Document:

EX-10.1

 Exhibit 10.1 

FORM OF SEPARATION AND DISTRIBUTION AGREEMENT 

by and between 
 FMC CORPORATION

 and 
 LIVENT CORPORATION 

Dated as of [—] 

 TABLE OF CONTENTS 

 

					
	 	  	PAGE	 
	ARTICLE I	  			
	DEFINITIONS	  			
		
	 Section 1.01.     Certain Definitions
	  	 	6	 
		
	ARTICLE II	  			
	THE SEPARATION	  			
		
	 Section 2.01.     Pre-IPO
Restructuring Transactions; Separation of Assets
	  	 	19	 
	 Section 2.02.     Transfer of Assets and Assumption of
Liabilities
	  	 	20	 
	 Section 2.03.     Lithium Assets
	  	 	21	 
	 Section 2.04.     Lithium Liabilities
	  	 	23	 
	 Section 2.05.     Shared Assets; Shared Contracts
	  	 	25	 
	 Section 2.06.     Additional Conveyance Documents
	  	 	26	 
	 Section 2.07.     Foreign Transfers
	  	 	26	 
	 Section 2.08.     Transfers Not Effected on or Prior to the Separation
Date; Transfers Deemed Effective as of the Separation Date
	  	 	27	 
	 Section 2.09.     Intellectual Property License
	  	 	28	 
	 Section 2.10.     Disclaimer of Representations and
Warranties
	  	 	29	 
	 Section 2.11.     Issuance of Shares, Agreement to Make Separation
Payment
	  	 	30	 
		
	ARTICLE III	  			
	IPO; PRE-IPO TRANSACTIONS	  			
		
	 Section 3.01.     The IPO
	  	 	30	 
	 Section 3.02.     Conditions Precedent to Consummation of the
IPO
	  	 	31	 
		
	ARTICLE IV	  			
	THE DISTRIBUTION	  			
		
	 Section 4.01.     The Distribution
	  	 	32	 
	 Section 4.02.     Actions Prior to the Distribution
	  	 	33	 
	 Section 4.03.     Conditions to Distribution
	  	 	    33	 
		
	ARTICLE V	  			
	AFFIRMATIVE COVENANTS	  			
		
	 Section 5.01.     Consents and Governmental Approvals
	  	 	34	 
	 Section 5.02.     Licenses and Permits
	  	 	35	 
	 Section 5.03.     Termination of Inter-Company Accounts and
Agreements
	  	 	35	 
	 Section 5.04.     Financing Arrangements; Separation
Payment
	  	 	35	 
	 Section 5.05.     Guarantees
	  	 	36	 

  
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	 Section 5.06.     Bank Accounts; Cash Balances
	  	 	36	 
		
	ARTICLE VI	  			
	EXCHANGE OF INFORMATION; CONFIDENTIALITY	  			
		
	 Section 6.01.     Books and Records
	  	 	37	 
	 Section 6.02.     Exchange of Information; Archives
	  	 	38	 
	 Section 6.03.     Ownership of Information
	  	 	39	 
	 Section 6.04.     Compensation for Providing Information
	  	 	39	 
	 Section 6.05.     Record Retention
	  	 	39	 
	 Section 6.06.     Limitation of Liability
	  	 	39	 
	 Section 6.07.     Other Agreements Providing for Exchange of
Information
	  	 	39	 
	 Section 6.08.     Production of Witnesses; Records;
Cooperation
	  	 	40	 
	 Section 6.09.     Confidentiality
	  	 	40	 
	 Section 6.10.     Protective Arrangements
	  	 	42	 
	 Section 6.11.     Preservation of Legal Privileges
	  	 	42	 
	 Section 6.12.     Tax Records
	  	 	44	 
		
	ARTICLE VII	  			
	INSURANCE MATTERS	  			
		
	 Section 7.01.     Insurance Prior to the Distribution
Time
	  	 	44	 
	 Section 7.02.     Ownership of Existing Policies and
Programs
	  	 	44	 
	 Section 7.03.     Acquisition and Maintenance of Post-Separation
Insurance
	  	 	45	 
	 Section 7.04.     Rights Under Shared Policies
	  	 	45	 
	 Section 7.05.     Claims Administration
	  	 	46	 
	 Section 7.06.     Non-Waiver
of Rights to Coverage
	  	 	47	 
		
	ARTICLE VIII	  			
	MUTUAL RELEASES; INDEMNIFICATION	  			
		
	 Section 8.01.     Mutual Release of
Pre-Closing Claims
	  	 	47	 
	 Section 8.02.     Indemnification by the Company
	  	 	49	 
	 Section 8.03.     Indemnification by Parent
	  	 	50	 
	 Section 8.04.     Third-Party Claims
	  	 	51	 
	 Section 8.05.     Survival of Indemnification Obligations
	  	 	52	 
	 Section 8.06.     Limitation of Liability
	  	 	53	 
	 Section 8.07.     Additional Matters
	  	 	54	 
	 Section 8.08.     Remedies Cumulative
	  	 	54	 
	 Section 8.09.     Existing Litigation
	  	 	54	 
		
	ARTICLE IX	  			
	MISCELLANEOUS	  			
		
	 Section 9.01.     Termination
	  	 	55	 
	 Section 9.02.     Expenses
	  	 	56	 
	 Section 9.03.     Dispute Resolution
	  	 	56	 
	 Section 9.04.     Governing Law; Exclusive Forum
	  	 	56	 

  
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	 Section 9.05.     Waiver of Jury Trial
	  	 	57	 
	 Section 9.06.     Specific Performance
	  	 	57	 
	 Section 9.07.     Counterparts; Entire Agreement; Conflicting
Agreements
	  	 	57	 
	 Section 9.08.     No Construction Against Drafter
	  	 	58	 
	 Section 9.09.     Assignability
	  	 	58	 
	 Section 9.10.     Third-Party Beneficiaries
	  	 	59	 
	 Section 9.11.     Notices
	  	 	59	 
	 Section 9.12.     Severability
	  	 	60	 
	 Section 9.13.     Headings
	  	 	60	 
	 Section 9.14.     Survival of Covenants
	  	 	60	 
	 Section 9.15.     Waivers of Default
	  	 	60	 
	 Section 9.16.     Amendments
	  	 	60	 
	 Section 9.17.     Interpretation
	  	 	60	 

  
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 FORM OF SEPARATION AND DISTRIBUTION AGREEMENT 

THIS SEPARATION AND DISTRIBUTION AGREEMENT, dated as of [—], is by and between FMC CORPORATION, a Delaware corporation
(“Parent”), and LIVENT CORPORATION, a Delaware corporation (the “Company”). Capitalized terms used herein and not otherwise defined shall have the respective meanings assigned to them in Article I hereof. 

R E C I T A L S 
 WHEREAS, the
Board of Directors of Parent (the “Parent Board”) has determined that it is in the best interests of Parent and its stockholders to separate the Lithium Business from the Parent Business (the “Separation”); 

WHEREAS, the Company has been incorporated for this purpose and has not engaged in activities except in preparation for the Separation and the
exchange, sale and distribution of its stock; 
 WHEREAS, in furtherance of the foregoing, on or prior to the date of the consummation of
the IPO (the “Separation Date”), Parent transferred to the Company the capital stock and equity interests of the Lithium Subsidiaries (which then held substantially all of the Lithium Assets and had previously assumed the Lithium
Liabilities in accordance with the Plan of Reorganization, all as more fully described in this Agreement, the Ancillary Agreements and the Plan of Reorganization) (the “Contribution”) and, in exchange therefor, the Company
(i) issued to Parent, on or prior to the date hereof, shares of Company Common Stock, and (ii) shall pay Parent, following the Separation Date, an amount in cash equal to the net cash proceeds from the sale of shares of Company Common
Stock in the IPO (including the net cash proceeds from the exercise of any over-allotment option), as determined in good faith by the Company Board, or any committee thereof, which determination shall be conclusive (the “Separation
Payment”); 
 WHEREAS, the Parent Board has further determined that it is appropriate and desirable, on the terms and conditions
contemplated hereby, for an offer and sale to the public of a limited number of shares of the common stock, par value $0.001 per share, of the Company (the “Company Common Stock”), to take place pursuant to a registration statement
on Form S-1, as more fully described in this Agreement and the Ancillary Agreements (the “IPO”); 

WHEREAS, in connection with the Pre-IPO Restructuring Transactions, the Company has entered into the
Company Financing Arrangements; 
 WHEREAS, after the IPO, Parent intends to 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 or 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”); 

 WHEREAS, for U.S. federal and state income tax purposes, it is intended that (i) the
Contribution and Distribution, if effected, taken together, will qualify as a “reorganization” within the meaning Section 368(a)(1)(D) of the Internal Revenue Code of 1986, as amended (the “Code”), and (ii) the
Distribution and the Separation Payment, if effected, will qualify as tax-free transactions by reason of Sections 355 and 361 of the Code (in each case, also qualifying for such treatment under the
corresponding provisions of state Law); 
 WHEREAS, this Agreement, together with the Ancillary Agreements, Local Separation Agreements and
other documents implementing the Separation, is intended to be, and is hereby adopted as, a “plan of reorganization” within the meaning of Treas. Reg. Section 1.368-2(g); and 

WHEREAS, it is appropriate and desirable to set forth herein and in the Ancillary Agreements the principal corporate transactions required to
effect the Separation (including the Pre-IPO Restructuring Transactions), the Company Financing Arrangements, the Contribution, the IPO, and the Distribution, if effected, and certain other agreements that
will govern certain matters relating thereto (collectively, the “Transactions”), and the relationship of Parent, the Company and their respective Subsidiaries following the IPO, including as set out in the Shareholders’
Agreement between Parent and the Company entered into in connection with the IPO, as amended, modified or supplemented from time to time (the “Shareholders’ Agreement”). 

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: 

“Action” means any demand, action, suit, countersuit, arbitration, inquiry, proceeding or investigation by or before any
federal, state, local, foreign or international Governmental Authority or any arbitration or mediation tribunal. 
 “Additional
Company Transfer Documents” has the meaning set forth in Section 2.06. 
 “Additional Parent Transfer
Documents” has the meaning set forth in Section 2.06. 

  
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 “Additional Transfer Documents” has the meaning set forth in
Section 2.06. 
 “Affiliate” of any Person means a Person that controls, is controlled by, or is under common control
with such Person. As used herein, “control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such entity, whether through ownership of voting securities or other
interests, by contract or otherwise. It is expressly agreed that, from and after the Separation Date, solely for purposes of this Agreement, (1) no member of the Lithium Group shall be deemed to be an Affiliate of any member of the Parent Group
and (2) no member of the Parent Group shall be deemed to be an Affiliate of any member of the Lithium Group. 

“Agreement” means this Separation and Distribution Agreement, including all of the schedules and exhibits hereto. 

“Ancillary Agreements” means the Shareholders’ Agreement, the Transition Services Agreement, the Tax Matters Agreement,
the Employee Matters Agreement, the Trademark License Agreement, the Registration Rights Agreement, the Local Separation Agreements, the Additional Transfer Documents and any other agreements, instruments or certificates related thereto or to the
Transactions and including any exhibits, schedules, attachments, tables or other appendices thereto. 
 “Assets” means
assets, properties, claims and rights (including goodwill), wherever located (including in the possession of vendors or other third parties or elsewhere), of every kind, character and description, whether real, personal or mixed, tangible,
intangible or contingent, in each case whether or not recorded or reflected or required to be recorded or reflected on the books and records or financial statements of any Person, including the following: 

(a) all accounting and other legal and business books, records, ledgers and files and all personnel records, in each case,
whether printed, electronic, contained on storage media or written, or in any other form; 
 (b) all apparati, computers and
other electronic data processing and communication equipment, telephone and facsimile numbers, fixtures, machinery, furniture, office equipment, IT Assets, automobiles, motor vehicles and other transportation equipment, special and general tools,
test devices, prototypes and models, and other tangible personal property; 
 (c) all inventories of materials, parts,
biological materials, lithium minerals or metals, concentrates, analytical and research materials, raw materials, supplies, and work-in-process and finished goods and
products, in each case of whatever kind, nature or description; 
 (d) all interests in real property of whatever nature,
including but not limited to easements, servitudes, land use and mineral rights, leases, licenses, subleases or security interests, whether as owner, mortgagee, lessor, sublessor, lessee, sublessee or otherwise; 

  
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 (e) all interests in any capital stock or other equity interests of any
Person, all bonds, notes, debentures or other securities issued by any Person, all loans, advances or other extensions of credit or capital contributions to any Person and all other investments in any Person; 

(f) all leases of personal property, open purchase orders for raw materials, supplies, parts or services, and other similar
Contracts; 
 (g) all deposits, letters of credit, and performance and surety bonds; 

(h) all Intellectual Property; 

(i) all IP/IT Contracts; 

(j) all cost information, sales and pricing data, customer prospect lists, supplier records, customer and supplier lists,
customer and vendor data, correspondence and lists, product data and literature, artwork, designs, formulations and specifications, quality records and reports, and other books, records, studies, surveys, reports, plans and documents, other than any
Intellectual Property in any of the foregoing; 
 (k) all prepaid expenses, trade accounts, and other accounts and notes
receivable; 
 (l) all Contracts and rights thereunder, all claims or rights against any Person arising from the ownership of
any Asset, all rights in connection with any bids or offers, and all claims, choices in action and similar rights, whether accrued or contingent; 

(m) all employee Contracts, including the right thereunder to restrict an employee thereunder from competing in certain
respects; 
 (n) all rights under insurance policies and all rights in the nature of insurance, indemnification, recovery or
contribution; 
 (o) all licenses, permits, approvals, consents, registrations and authorizations, including, without
limitation, marketing authorizations for any products requiring such to be sold, which have been issued by or obtained from any Governmental Authority; 

(p) all cash or cash equivalents, certificates of deposit, banker’s acceptances and other investment securities of any
form or maturity, and all bank accounts, lock boxes and other deposit arrangements, and all brokerage accounts; 
 (q) all
receivables from Tax authorities; and 
 (r) all interest rate, currency, commodity or other swap, collar, cap or other
hedging or similar agreements or arrangements. 

  
 8 

 “Bromborough Indemnity Deed” means that certain Deed of Indemnity, dated as
of December 28, 2017, by and among FMC Chemicals Limited (a Lithium Subsidiary), Parent, FMC Chemicals Pension Plan Limited (a Lithium Subsidiary), and certain other parties named therein, with respect to the indemnification of certain
Liabilities associated with the winding-up of the FMC Chemicals Pension Plan. For the avoidance of doubt, any Liabilities of any member of the Parent Group arising out of or relating to the Bromborough
Indemnity Deed shall be a Lithium Liability and subject to the rights and obligations of the parties in Article VIII of this Agreement. 

“Business” means the Lithium Business or the Parent Business, as the context requires. 

“Business Day” means any day other than a Saturday, a Sunday or a day on which banking institutions are authorized or
obligated by Law to be closed in New York, New York. 
 “Code” has the meaning set forth in the recitals hereto. 

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

“Company Accounts” has the meaning set forth in Section 5.06(b). 

“Company Balance Sheet” means the consolidated balance sheet of the Company as set forth in the IPO Registration Statement.

 “Company Board” means the Board of Directors of the Company. 

“Company Books and Records” means originals or true and complete copies thereof, including electronic copies (if available),
of (a) all minute books, corporate charters and bylaws or comparable constitutive documents, records of share issuances and related corporate records of each member of the Lithium Group, (b) all books and records primarily relating to
(i) Lithium Participants, (ii) the purchase of materials, supplies and services for the Lithium Business, and (iii) dealings with customers of the Lithium Business, and (c) all files relating exclusively to any Lithium Asset,
Lithium Liabilities, or any Action the Liability of which is a Lithium Liability. 
 “Company Common Stock” has the meaning
set forth in the recitals. 
 “Company Credit Facility” means that certain Credit Agreement, dated as of [—], by and
among the Company and FMC Lithium USA Corp., a Delaware corporation, as borrowers, certain Subsidiaries of the Company from time to time party thereto as guarantors, each lender from time to time party thereto and Citibank, N.A., as administrative
agent and collateral agent for the lenders, as may be amended and restated, supplemented or otherwise modified from time to time. 

“Company Debt Obligations” means all Indebtedness of the Company or any member of the Lithium Group, including without
limitation Indebtedness incurred pursuant to the Company Financing Arrangements. 

  
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 “Company Financing Arrangements” means the Company Credit Facility. 

“Company Indemnitees” has the meaning set forth in Section 8.03. 

“Consents” means any consents, waivers or approvals from, or notification requirements to, any third parties. 

“Contract” means any written or oral commitment, contract, subcontract, agreement, lease, sublease, license, understanding,
sales order, purchase order, instrument, indenture, note or other commitment that is binding on any Person or any part of its property under applicable Law. 

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

“Covered Claims” has the meaning set forth in Section 7.04. 

“Disclosing Party” has the meaning set forth in Section 6.09(a). 

“Disclosure Documents” means any form, statement, schedule or other material filed with or furnished to the SEC or any other
Governmental Authority by or on behalf of any party or any of its controlled Affiliates, and also any information statement, prospectus, offering memorandum, offering circular or similar disclosure document (including in connection with the IPO) and
any schedule thereto or document incorporated therein by reference, whether or not filed with or furnished to the SEC or any other Governmental Authority. 

“Dispute” has the meaning set forth in Section 9.03. 

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

“Distribution Date” means the date of the Distribution or, if no Distribution has occurred, the date that Parent ceases to
hold in excess of 50% of the outstanding shares of Company Common Stock. 
 “Employee Matters Agreement” means the Employee
Matters Agreement, dated on or about the Separation Date, by and between Parent and the Company, including all schedules and exhibits thereto, as amended, modified or supplemented from time to time. 

“Environmental Law” means any Law relating to (A) human or occupational health and safety; (B) pollution or
protection of the environment (including ambient air, indoor air, water vapor, surface water, groundwater, wetlands, drinking water supply, land surface or subsurface strata, biota and other natural resources); or (C) Hazardous Materials
including any Law relating to exposure to, or use, generation, manufacture, processing, management, treatment, recycling, storage, disposal, emission, discharge, transport, distribution, labeling, presence, possession, handling, Release or
threatened Release of, any Hazardous Material and any Law relating to recordkeeping, notification, disclosure, registration and reporting requirements respecting Hazardous Materials. 

  
 10 

 “Environmental Liabilities” means all Liabilities (including all removal,
remediation, reclamation, cleanup or monitoring costs, investigatory costs, response costs, natural resources damages, property damages, personal injury damages, costs of compliance with any product take-back requirements or with any settlement,
judgment or other determination of Liability and indemnity, contribution or similar obligations and all costs and expenses, interest, fines, penalties or other monetary sanctions in connection therewith) relating to, arising out of or resulting from
any (a) (i) Environmental Law, (ii) actual or alleged generation, use, storage, manufacture, processing, recycling, labeling, handling, possession, management, treatment, transportation, distribution, emission, discharge or disposal, or
arrangement for the transportation or disposal, of any Hazardous Material, or (iii) actual or alleged presence, Release or threatened Release of, or exposure to, any Hazardous Material (including to the extent relating to the actual or alleged
exposure to Hazardous Material, any claims that arise under, or are covered by, workers’ compensation laws and/or workers’ compensation, disability or other insurance providing medical care and/or compensation to injured workers) or
(b) Contract or other consensual arrangement pursuant to which Liability is assumed or imposed with respect to any of the foregoing. 

“Environmental Permits” means Governmental Approvals relating to or required by Environmental Laws. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, together with the rules and regulations promulgated
thereunder. 
 “Existing Lithium Litigation Matters” means those matters set forth on Schedule 1.01 under the heading
“Existing Lithium Litigation Matters.” 
 “FIFO Basis” means, with respect to the payment of claims pursuant to
the same Shared Policy, the payment in full of each successful claim (regardless of whether a member of the Parent Group or the Lithium Group is the claimant) in the order in which such successful claim is approved by the insurance carrier, until
the limit of the applicable Shared Policy is met. 
 “GAAP” means accounting principles generally accepted in the United
States of America. 
 “Governmental Approvals” means any notices, reports or other filings to be made, or any consents,
registrations, approvals, licenses, permits or authorizations to be obtained from, any Governmental Authority, and any financial instruments or assurances required to be maintained in connection with such Governmental Approvals. 

“Governmental Authority” means any nation or Government, any state, municipality or other political subdivision thereof, and
any entity, body, agency, commission, department, board, bureau, court, tribunal or other instrumentality, whether federal, state, local, domestic, foreign or multinational, exercising executive, legislative, judicial, regulatory, administrative or
other similar functions of, or pertaining to, Government and any executive official thereof. As used in this definition, 

  
 11 

 
“Government” is meant to include all levels and subdivisions of any U.S. or non-U.S. governments (i.e., local, regional or national, and
administrative, legislative or executive). 
 “Group” means either the Lithium Group or the Parent Group, as the context
requires. 
 “Guarantee” has the meaning set forth in Section 5.05. 

“Hazardous Material” means (a) any petroleum or petroleum products, radioactive materials, toxic mold, radon, asbestos
or asbestos-containing materials in any form, lead-based paint, urea formaldehyde foam insulation, Per- and Polyfluoroalkyl Substances (PFAs) or polychlorinated biphenyls (PCBs); and (b) any chemicals,
materials, substances, compounds, mixtures, products or byproducts, biological agents, living or genetically modified materials, pollutants, contaminants or wastes that are now or hereafter become defined or characterized as or included in the
definition of “hazardous substances,” “hazardous wastes,” “hazardous materials,” “extremely hazardous wastes,” “restricted hazardous wastes,” “special waste,” “toxic substances,”
“pollutants,” “contaminants,” “toxic,” “dangerous,” “corrosive,” “flammable,” “reactive,” “radioactive,” or words of similar import, under any Environmental Law. 

“Indebtedness” of any Person means (a) all obligations of such Person for borrowed money, (b) all obligations of
such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such Person upon which interest charges are customarily paid, (d) all obligations of such Person under conditional sale or other title
retention agreements relating to property or assets purchased by such Person, (e) all obligations of such Person issued or assumed as the deferred purchase price of property or services, (f) all indebtedness of others secured by (or for
which the holder of such indebtedness has an existing right, contingent or otherwise, to be secured by) any mortgage, lien, pledge, or other encumbrance on property owned or acquired by such Person, whether or not the obligations secured thereby
have been assumed, (g) all guarantees by such Person of indebtedness of others, (h) all capital lease obligations of such Person and (i) all securities or other similar instruments convertible or exchangeable into any of the
foregoing, but excluding daily cash overdrafts associated with routine cash operations. 
 “Indemnifying Party” has the
meaning set forth in Section 8.06(a). 
 “Indemnitee” has the meaning set forth in Section 8.06(a). 

“Indemnity Payment” has the meaning set forth in Section 8.06(a). 

“Independent Directors” has the meaning set forth in Section 9.03. 

“Information” means all information in written, oral, electronic or other tangible or intangible forms, stored in any medium,
including studies, reports, records, books, Contracts, instruments, surveys, discoveries, ideas, concepts, know-how, techniques, designs, specifications, drawings, blueprints, diagrams, models, prototypes,
samples, flow 

  
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charts, data, computer data, disks, diskettes, tapes, computer programs or other software (including all source code of such programs and software), marketing plans, customer names,
communications by or to attorneys (including attorney-client privileged communications), memoranda and other materials prepared by attorneys or under their direction (including attorney work product), and other technical, financial, personnel or
business information or data. 
 “Insurance Proceeds” means those monies: 

(a) received by an insured from a third-party insurance carrier; 

(b) paid by a third-party insurance carrier on behalf of the insured; or 

(c) received (including by way of setoff) from any third party in the nature of insurance, contribution or indemnification in
respect of any Liability; 
 in each such case net of any deductibles, self-insured retentions, claims handling and administrative costs, Tax surcharges,
state assessments, reinsurance costs and other related costs or expenses incurred in the collection thereof and excluding, for the avoidance of doubt, proceeds from any self-insurance, captive insurance or similar program. 

“Intellectual Property” means all intellectual property throughout the world, including all U.S. and foreign
(i) patents, invention disclosures, and all related continuations, continuations-in-part, divisionals, provisionals, renewals, reissues, re-examinations, additions, extensions (including all supplementary protection certificates), and all applications and registrations therefor, (ii) trademarks, service marks, names, corporate names, trade
names, domain names, logos, slogans, trade dress, design rights, and other similar designations of source or origin and all applications and registrations therefor, together with the goodwill symbolized by any of the foregoing (collectively,
“Trademarks”), (iii) copyrights and copyrightable subject matter and all applications and registrations therefor, (iv) any and all trade secrets, confidential data and technical information, including practices, techniques,
methods, processes, inventions, developments, specifications, formulations, manufacturing processes, structures, chemical or biological manufacturing control data, analytical and quality control information and procedures, pharmacological,
toxicological and clinical test data and results, stability data, studies and procedures and regulatory information (v) computer software (including source code, object code, firmware, operating systems and specifications), (vi) databases and
data collections and (vii) all rights to sue or recover and retain damages and costs and attorneys’ fees for the past, present or future infringement, misappropriation or other violation of any of the foregoing. 

“IP/IT Contracts” means all Contracts related to Intellectual Property and/or IT Assets. 

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

  
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 “IPO Registration Statement” means the registration statement on Form S-l (File No. 333-183254) filed under the Securities Act, pursuant to which the Company Common Stock to be issued in the IPO will be registered, together with all
amendments thereto (including post-effective amendments and registration statements filed pursuant to Rule 462(b) under the Securities Act). 

“IT Assets” shall mean computers, hardware, software, firmware, middleware, servers, workstations, routers, hubs, switches,
data communications lines, and all other information technology assets, including all associated documentation related to any of the foregoing. 

“Law” means any United States or non-United States federal, national, supranational, state, provincial, local or similar law
(including common law), statute, ordinance, regulation, rule, code, order, treaty, license, permit, authorization, registration, approval, consent, decree, injunction, judgment, notice of liability, request for information, binding judicial or
administrative interpretation or other requirement, in each case, enacted, promulgated, issued, entered or otherwise put into effect by a Governmental Authority. 

“Liabilities” means any and all Indebtedness, claims, debts, Taxes, liabilities, demands, causes of action, Actions and
obligations, whether accrued, fixed or contingent, mature or inchoate, known or unknown, reflected on a balance sheet or otherwise, including, without limitation, those arising under any Law, Action or judgment of any court of any kind or any award
of any arbitrator of any kind, and those arising under any Contract, commitment or undertaking. 
 “License” has the
meaning set forth in Section 2.09(a). 
 “Licensed IP” has the meaning set forth in Section 2.09(a). 

“Lien” means any mortgage, security interest, pledge, lien, charge, claim, option, right to acquire, voting or other
restriction, right-of-way, covenant, condition, easement, encroachment, restriction on transfer, or other encumbrance of any nature whatsoever. 

“linked” has the meaning set forth in Section 5.06(b). 

“Lithium Assets” has the meaning set forth in Section 2.03. 

“Lithium Business” means all of the businesses and operations of the Company and the members of the Lithium Group as
described in the IPO Registration Statement. 
 “Lithium Group” means the Company, each Lithium Subsidiary and each other
Person that either (x) is controlled directly or indirectly by the Company immediately after the Separation Date or (y) becomes controlled by the Company following the Separation Date. 

  
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 “Lithium Intellectual Property” means all Intellectual Property owned by
Parent or any of its Subsidiaries that are exclusively used or exclusively held for use in the Lithium Business as of the Separation Date (other than any Parent Asset). 

“Lithium IP/IT Contracts” means all IP/IT Contracts entered into by Parent or any of its Subsidiaries that are exclusively
used and exclusively held for use in the Lithium Business as of the Separation Date. 
 “Lithium IT Assets” means all IT
Assets owned by Parent or any of its Subsidiaries that are exclusively used or exclusively held for use in the Lithium Business as of the Separation Date. 

“Lithium Liabilities” has the meaning set forth in Section 2.04(a). 

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

“Lithium Subsidiaries” means all of the Subsidiaries of the Company as of the Separation Date, after giving effect to the Pre-IPO Restructuring Transactions, including, for the avoidance of doubt, the Subsidiaries listed on Schedule 1.01 under the heading “Lithium Subsidiaries.” 

“Local Separation Agreements” means each of the asset transfer agreements, share transfer agreements, business transfer
agreements, certificates of demerger and merger and other agreements and instruments that provide for the transfer or assumption of Lithium Assets and Lithium Liabilities by a member of the Parent Group to a member of the Lithium Group as
contemplated by the Plan of Reorganization. 
 “Losses” means any and all damages, losses, deficiencies, Liabilities,
Taxes, obligations, penalties, judgments, settlements, claims, payments, fines, charges, interest, costs and expenses, whether or not resulting from third-party claims, including the costs and expenses of (i) any and all Actions and demands,
assessments, judgments, settlements and compromises relating thereto and (ii) the costs and expenses of attorneys’, accountants’, consultants’ and other professionals’ fees and expenses incurred in the investigation or
defense thereof or the enforcement of rights hereunder. 
 “NYSE” means the New York Stock Exchange. 

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

“Parent Accounts” has the meaning set forth in Section 5.06(b). 

“Parent Assets” has the meaning set forth in Section 2.03(b). 

“Parent Board” has the meaning set forth in the recitals. 

  
 15 

 “Parent Books and Records” means originals or true and complete copies
thereof, including electronic copies (if available) of (a) minute books, corporate charters and bylaws or comparable constitutive documents, records of share issuances and related corporate records, of the Parent Group; (b) all books and
records relating to (i) Parent Participants, (ii) the purchase of materials, supplies and services for the Parent Business and (iii) dealings with customers of the Parent Business; and (c) all files relating to any Action the
Liability with respect to which is a Parent Liability. Notwithstanding the foregoing, “Parent Books and Records” shall not include any Tax Returns or other information, documents or materials relating to Specified Taxes and shall not
include Company Books and Records. 
 “Parent Business” means any business or operations of the Parent Group (whether
conducted independently or in association with one or more third parties through a partnership, joint venture or other mutual enterprise) other than the Lithium Business. 

“Parent Common Stock” means the common stock, par value $0.10 per share, of Parent. 

“Parent Credit Facilities” means any outstanding Indebtedness of Parent and its Subsidiaries incurred prior to the Separation
Date, of whatever sort, nature or description. 
 “Parent Environmental Liabilities” means all Environmental Liabilities to
the extent that they constitute Parent Liabilities. 
 “Parent Group” means Parent, each of the Retained Subsidiaries and
each other Person that either (x) is controlled directly or indirectly by Parent immediately after the Separation Date or (y) becomes controlled by Parent following the Separation Date; provided, however, that neither the
Company nor any other member of the Lithium Group shall be members of the Parent Group. 
 “Parent Indemnitees” has the
meaning set forth in Section 8.02. 
 “Parent Liabilities” has the meaning set forth in Section 2.04(b). 

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

“Parent Policies” has the meaning set forth in Section 7.02. 

“Parent Transaction” has the meaning set forth in Section 6.09(e). 

“Person” means an individual, a general or limited partnership, a corporation, a trust, a joint venture, an unincorporated
organization, a limited liability entity, any other entity or any Governmental Authority. 
 “Plan of Reorganization” shall
mean that certain FMC Corporation Lithium Spin Transaction plan, dated as of [—]. 

  
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 “Policies” or “Policy” shall mean insurance policies and
insurance contracts of any kind, including primary, excess and umbrella, comprehensive general liability, directors and officers, automobile, products, workers’ compensation, employee dishonesty, property and crime insurance policies and
self-insurance, captive insurance company arrangements, together with the rights, benefits and privileges thereunder. 

“Post-Separation Insurance Arrangements” has the meaning set forth in Section 7.03. 

“Pre-IPO Restructuring Transactions” means all of the transactions described in the
Plan of Reorganization that occur on or prior to the IPO. 
 “Privilege” has the meaning set forth in Section 6.11(a).

 “Receiving Party” has the meaning set forth in Section 6.09(a). 

“Registration Rights Agreement” means the Registration Rights Agreement, dated on or about the Separation Date, by and
between Parent and the Company, as amended, modified or supplemented from time to time. 
 “Related Claim” has the
meaning set forth in Section 7.04(d). 
 “Release” means any release, spill, emission, leaking, dumping, pumping,
injection, pouring, deposit, disposal, discharge, dispersal, leaching or migration into, onto, within or through the indoor or outdoor environment (including ambient air, surface water, groundwater, land surface or subsurface strata, soil and
sediments) or into, through, or within any property, building, structure, fixture or equipment. 
 “Retained Subsidiaries”
has the meaning set forth in Section 2.03(b). 
 “SEC” means the U.S. Securities and Exchange Commission. 

“Securities Act” means the Securities Act of 1933, as amended, together with the rules and regulations promulgated
thereunder. 
 “Segregated Account” has the meaning set forth in Section 2.11(b). 

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

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

“Separation Payment” has the meaning set forth in the recitals. 

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

“Shared Asset” has the meaning set forth in Section 2.05(a). 

  
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 “Shared Contracts” means each Contract entered into prior to the Separation
Date which is between Parent or any of its Subsidiaries (including any member of the Lithium Group), on the one hand, and one or more third parties, on the other hand, that has benefits or imposes obligations on the Lithium Business, but is not a
Lithium Asset, including those Contracts listed on Schedule 1.01 under the heading “Shared Contracts,” except to the extent such Contract has been previously severed, divided, mirrored or otherwise separated in accordance with
Section 2.01(b). 
 “Shared Facilities” means the production facilities, manufacturing sites, warehouses, distribution
centers, sales offices, data processing centers, administrative offices or other facilities (whether owned or leased) of Parent or any of the members of the Parent Group in which operations of both the Lithium Business and the Parent Business are
conducted as of the Separation Date, including, without limitation, those listed on Schedule 1.01 under the heading “Shared Facilities.” 

“Shared Policies” has the meaning set forth in Section 7.04. 

“Shareholders’ Agreement” has the meaning set forth in the recitals. 

“Subsidiary” means, when used with respect to any Person, (a) a corporation in which such Person or one or more
Subsidiaries of such Person, directly or indirectly, owns capital stock having a majority of the total voting power in the election of directors of all outstanding shares of all classes and series of capital stock of such corporation entitled
generally to vote in such election; and (b) any other Person (other than a corporation) in which such Person or one or more Subsidiaries of such Person, directly or indirectly, has (i) a majority ownership interest or (ii) the power
to elect or direct the election of a majority of the members of the governing body of such first-named Person. 
 “Tax
Control” means the definition of “control” set forth in Section 368(c) of the Code. 
 “Tax Matters
Agreement” means the Tax Matters Agreement, dated on or about the Separation Date, by and between Parent and the Company, as amended, modified or supplemented from time to time. 

“Tax-Free Status” means the qualification of the Contribution and the Distribution,
taken together, (X) (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 and (c) as a transaction in which Parent, the Company and the holders of Parent Common Stock will 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 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 (Y) as a transaction in which Parent
should 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. 

“Tax Opinion” has the meaning set forth in Section 4.03(d). 

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

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

“Third-Party Claim” has the meaning set forth in Section 8.04(a). 

“Trademark License Agreement” means the Trademark License Agreement, dated on or about the Separation Date, by and between
Parent and the Company, as amended, modified or supplemented from time to time. 
 “Transactions” has the meaning set forth
in the recitals. 
 “Transition Services Agreement” means the Transition Services Agreement, dated on or about the
Separation Date, by and between Parent and the Company, as amended, modified or supplemented from time to time. 
 “Trigger
Time” means the later of the Separation Date or October 1, 2018. 
 “Underwriters” means the underwriters for
the IPO. 
 “Underwriting Agreement” means the underwriting agreement to be entered into among the Underwriters, the
Company and Parent with respect to the IPO. 
 “Unrelated Claim” has the meaning set forth in Section 7.04(d). 

ARTICLE II 
 THE
SEPARATION 
 Section 2.01. Pre-IPO Restructuring Transactions; Separation of
Assets. 
 (a) Prior to the Separation Date, and subject to Section 2.02(d), the parties hereto shall cause, or shall have caused,
the Pre-IPO Restructuring Transactions to be completed in accordance with the Plan of Reorganization. 

(b) Subject to Section 2.05, on or prior to the date hereof, including in connection with the
Pre-IPO Restructuring Transactions, the Lithium Assets (including Lithium Assets that are, or are contained in, the Shared Facilities) shall, to the extent reasonably practicable (including taking into account
the costs of any actions taken), be severed, divided or otherwise separated from the Parent Assets so that members of the Lithium Group will own and control the Lithium Assets as of the Separation Date and members of the Parent Group will own and
control the Parent Assets as of the Separation Date. Such separation may include subdivision of real property, subleasing or other division of shared buildings or premises and allocation of shared working capital, equipment and other Assets. Such
separation is intended to be effected in a manner that does not unreasonably disrupt either the Lithium Business or the Parent Business and minimizes, to the extent reasonably practicable, current and future costs (and losses of Tax or other
economic benefits) of the respective Businesses and the parties acknowledge that the Plan of Reorganization has been structured in a manner that complies with this intent. 

  
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 Section 2.02. Transfer of Assets and Assumption of Liabilities. 

(a) On or prior to the Separation Date, in accordance with the Plan of Reorganization and to the extent not previously effected pursuant to
the steps of the Plan of Reorganization that have been completed prior to the date hereof: 
 (i) Parent shall, and shall
cause the members of the Parent Group to, assign, transfer, convey and deliver to the Company, or certain of the members of the Lithium Group designated by the Company, and the Company and the members of the Lithium Group shall accept from Parent
and the applicable members of the Parent Group, all of Parent’s direct or indirect right, title and interest in and to all of the Lithium Assets (it being understood that if any Lithium Asset shall be held by a Lithium Subsidiary or a wholly
owned Subsidiary thereof, such Lithium Asset may be assigned, transferred, conveyed and delivered to the Company or the applicable member of the Lithium Group as a result of the transfer of all of the equity interests in such Lithium Subsidiary from
Parent or the applicable member of the Parent Group to the Company or the applicable member of the Lithium Group); 
 (ii)
the Company and the members of the Lithium Group designated by the Company shall accept, assume and agree faithfully to perform, discharge and fulfill all the Lithium Liabilities in accordance with their respective terms; the Company and the
applicable members of the Lithium Group shall be responsible for all Lithium Liabilities, regardless of when or where such Lithium Liabilities arose or arise, or whether the facts on which they are based occurred prior to or subsequent to the
Separation Date, regardless of where or against whom such Lithium Liabilities are asserted or determined (including any Lithium Liabilities arising out of claims made by Parent’s or the Company’s respective directors, officers, employees,
agents, Subsidiaries or Affiliates against any member of the Parent Group or the Lithium Group) or whether asserted or determined prior to the date hereof, and regardless of whether arising from or alleged to arise from negligence, recklessness,
violation of Law, fraud or misrepresentation by any member of the Parent Group or the Lithium Group, or any of their respective directors, officers, employees, agents, Subsidiaries or Affiliates; 

(iii) the Company shall cause the members of the Lithium Group to assign, transfer, convey and deliver to certain of the
members of the Parent Group designated by Parent all of the direct or indirect right, title and interest in and to any member of the Lithium Group in, to and under all Parent Assets not already owned by a member of the Parent Group; and 

  
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 (iv) Parent, and certain of the members of the Parent Group designated by
Parent, shall accept and assume from the members of the Lithium Group and agree faithfully to perform, discharge and fulfill certain Parent Liabilities of such members of the Lithium Group, and Parent and the members of the Parent Group shall be
responsible for all Parent Liabilities, regardless of when or where such Parent Liabilities arose or arise, or whether the facts on which they are based occurred prior to or subsequent to the Separation Date, regardless of where or against whom such
Parent Liabilities are asserted or determined (including any such Parent Liabilities arising out of claims made by Parent’s or the Company’s respective directors, officers, employees, agents, Subsidiaries or Affiliates against any member
of the Parent Group or the Lithium Group) or whether asserted or determined prior to the date hereof, and regardless of whether arising from or alleged to arise from negligence, recklessness, violation of Law, fraud or misrepresentation by any
member of the Parent Group or the Lithium Group, or any of their respective directors, officers, employees, agents, Subsidiaries or Affiliates. 

(b) The Company hereby waives compliance by each and every member of the Parent Group with the requirements and provisions of any
“bulk-sale” or “bulk-transfer” Laws of any jurisdiction that may otherwise be applicable with respect to the transfer or sale of any or all of the Lithium Assets to any member of the Lithium Group. 

(c) Parent hereby waives compliance by each and every member of the Lithium Group with the requirements and provisions of any
“bulk-sale” or “bulk-transfer” Laws of any jurisdiction that may otherwise be applicable with respect to the transfer or sale of any or all of the Parent Assets to any member of the Parent Group. 

(d) Except as set forth on Schedule 2.02(d), any outstanding obligations pursuant to any Local Separation Agreement that have not been fully
performed by the Separation Date shall be terminated and of no further force or effect on the Separation Date. 
 Section 2.03.
Lithium Assets. (a) For purposes of this Agreement, “Lithium Assets” shall mean all of Parent’s and its Subsidiaries’ right, title and interest as of the Separation Date, in and to: 

(i) all Assets (excluding any Intellectual Property, IP/IT Contracts and IT Assets) reflected as assets of the Company and its
Subsidiaries in the Company Balance Sheet and all Assets acquired after the date of the Company Balance Sheet that, had they been acquired on or before such date and owned as of such date, would have been reflected on the Company Balance Sheet if
prepared in accordance with GAAP applied on a consistent basis, other than any such Assets disposed of subsequent to the date of the Company Balance Sheet; 

(ii) except as expressly otherwise contemplated in this Agreement or any Ancillary Agreement, any and all Assets (excluding any
Intellectual Property, IP/IT Contracts and IT Assets) of Parent and its Subsidiaries that are primarily related to or primarily used or primarily held for use in connection with the Lithium Business; 

  
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 (iii) all issued and outstanding capital stock and other equity interests of
the Lithium Subsidiaries and all other equity, partnership, membership, joint venture and similar interests in any joint ventures or strategic partnerships primarily related to or held in connection with the Lithium Business, including such
interests listed or described on Schedule 2.03(a)(iii); 
 (iv) any Assets used or held for use in connection with the
Lithium Business that are not primarily related to the Lithium Business and that are listed or described on Schedule 2.03(a)(iv); 

(v) all Lithium Intellectual Property, including the Intellectual Property listed on Schedule 2.03(a)(v); 

(vi) all Lithium IP/IT Contracts, including the IP/IT Contracts listed on Schedule 2.03(a)(vi); 

(vii) all Lithium IT Assets, including the IT Assets listed on Schedule 2.03(a)(vii); and 

(viii) any and all Assets (A) that are expressly contemplated by this Agreement or any other Ancillary Agreement
(including any schedule or exhibit hereto or thereto) as Assets to be transferred to the Company or any member of the Lithium Group (excluding any Intellectual Property, IP/IT Contracts and IT Assets) or (B) listed or described on Schedule
2.03(a)(viii). 
 Notwithstanding anything to the contrary in this Agreement, the Lithium Assets shall not in any event include any Assets that are included
in the Parent Assets referred to in Section 2.03(b). 
 (b) For the purposes of this Agreement, “Parent Assets” shall
mean (without duplication): 
 (i) the Assets listed or described on Schedule 2.03(b)(i); 

(ii) any and all Trademarks and/or domain names that include “FMC”; 

(iii) any and all Assets that are contemplated by this Agreement, any Local Separation Agreement or any Ancillary Agreement
(including any schedule or exhibit hereto or thereto) as Assets to be retained by Parent or any other Person in the Parent Group; 

(iv) the capital stock and other equity interests of each of Parent’s Subsidiaries other than the Company and the Lithium
Subsidiaries (collectively, the “Retained Subsidiaries”); and 
 (v) all other Assets of Parent and its
Subsidiaries that are not Lithium Assets. 

  
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 Section 2.04. Lithium Liabilities. (a) For the purposes of this Agreement,
“Lithium Liabilities” shall mean (without duplication with Section 2.04(b)), in each case whether occurring or arising before, on or after the Separation Date: 

(i) any and all Liabilities, including any Environmental Liabilities (other than the Parent Environmental Liabilities),
reflected as liabilities or obligations of the Company in the Company Balance Sheet and all Liabilities incurred or arising after the date of the Company Balance Sheet that, had they been incurred or arisen on or before such date, would have been
reflected on the Company Balance Sheet if prepared in accordance with GAAP applied on a consistent basis, excluding any such Liabilities (or portions thereof) that have been satisfied, paid or discharged subsequent to the date of the Company Balance
Sheet and prior to the Separation Date; 
 (ii) any and all Liabilities, including any Environmental Liabilities (other than
the Parent Environmental Liabilities), to the extent relating to or arising from any Lithium Asset or the Lithium Business, including, without limitation, Liabilities relating to or arising from: 

(A) the conduct and operation of the Lithium Business (including as conducted or operated by any predecessor of any member of
the Parent Group or the Lithium Group), at any time prior to, on or after the Separation Date (including any Liability relating to, arising out of or resulting from any act or failure to act by any director, officer, manager, member, employee or
agent of any member of the Parent Group or Lithium Group (whether or not such act or failure to act is or was within such Person’s authority)); 

(B) the conduct and operation of any other business conducted by any member of the Lithium Group at any time after the
Separation Date (including any Liability relating to, arising out of or resulting from any act or failure to act by any director, officer, manager, member, employee or agent of any member of the Lithium Group (whether or not such act or failure to
act is or was within such Person’s authority)); 
 (C) the ownership, operation or use of any Lithium Assets (including
any Contracts of the Lithium Business and any real property, leasehold interests facilities or mines currently or formerly owned, leased or operated by or in connection with the Lithium Business); 

(D) any warranty or similar obligation entered into, created or incurred in the course of business of the Lithium Business with
respect to its products or services; 

  
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 (E) any product liability claims or other claims of third parties relating
to any product developed, manufactured, marketed, distributed, leased or sold by the Lithium Business; 
 (F) any Action
relating to the Lithium Business; 
 (G) claims made by the Company’s directors, officers, employees, agents,
Subsidiaries or Affiliates against any member of the Parent Group or the Lithium Group to the extent relating to the Lithium Business or the Transactions; 

(H) any of the terminated, divested or discontinued businesses and operations of Parent and its Subsidiaries that would have
comprised part of, or related to, the Lithium Business had they not been terminated, divested or discontinued prior to the Separation Date, including as listed or described on Schedule 2.04(a)(ii)(H); 

(I) any and all Company Debt Obligations and any and all Liabilities arising under Company Financing Arrangements; and 

(J) any Shared Contracts that are allocated to the Company pursuant to Section 2.05; 

(iii) any and all Liabilities that are expressly contemplated by this Agreement or any Ancillary Agreement (or any other
schedules hereto or thereto) as Liabilities to be retained, assumed or retired by the Company or any Person in the Lithium Group (including any Lithium Subsidiary), and all agreements, obligations and Liabilities of any Person in the Lithium Group
under this Agreement, any Local Separation Agreement or any of the Ancillary Agreements; 
 (iv) any and all Environmental
Liabilities to the extent relating to or arising from the Lithium Assets or the Lithium Business, as currently or formerly operated (including as conducted or operated by any predecessor of any member of the Parent Group or the Lithium Group), and
any currently or formerly owned, leased or operated real property, facilities or mines of the foregoing, including listed or described on Schedule 2.04(a)(iv); and 

(v) any and all Liabilities that are listed or described on Schedule 2.04(a)(v). 

Notwithstanding anything to the contrary in this Agreement, the Lithium Liabilities shall not in any event include any Liabilities that are included in the
Parent Liabilities referred to in Section 2.04(b). 

  
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 (b) For the purposes of this Agreement, “Parent Liabilities” shall mean the
following (without duplication): 
 (i) any and all Liabilities that are expressly contemplated by this Agreement or any
other Ancillary Agreement (or any other schedules hereto or thereto) as Liabilities to be retained or assumed by Parent or any other member of the Parent Group, and all agreements and obligations of any member of the Parent Group under this
Agreement or any of the other Ancillary Agreements; 
 (ii) any and all Liabilities of a member of the Parent Group to the
extent relating to, arising out of or resulting from any Parent Assets; and 
 (iii) any and all Liabilities of any members
of the Parent Group or the Lithium Group that are not Lithium Liabilities. 
 Section 2.05. Shared Assets; Shared Contracts.
(a) Subject to the following paragraphs (b) through (d) of this Section 2.05 in respect of any Shared Contract, with respect to any Asset that cannot reasonably be separated or otherwise allocated as provided in Section 2.01(b)
prior to the Separation Date (a “Shared Asset”), (i) no right, title or interest in such Shared Asset shall be assigned, transferred or otherwise conveyed as of the Separation Date pursuant to this Agreement notwithstanding
Section 2.02(a) and (ii) following the Separation Date, without limiting any Services provided with respect to such Shared Asset pursuant to the Transition Services Agreement, Parent, the Company and the members of their respective Groups
shall use their respective commercially reasonable efforts to work together (and, if necessary and desirable, to work with any applicable third party) in an effort to divide, partially assign, modify and/or replicate (in whole or in part) such
Shared Asset such that each Group shall receive an Asset to be used in connection with its respective Business in a manner consistent with past practice. 

(b) At the written request of the Company, Parent shall, and shall cause the applicable members of the Parent Group to, to the extent not
prohibited by the terms of the applicable Shared Contract or applicable Law and except where the benefits or rights under such Shared Contract are specifically provided pursuant to an Ancillary Document, make available to the Company and the
applicable members of the Lithium Group benefits and rights pursuant to such Shared Contract that are substantially equivalent to the benefits and rights enjoyed by the Lithium Group under such Shared Contract prior to the Separation Date;
provided, however, that the Company and the applicable members of the Lithium Group shall assume and discharge (or promptly reimburse Parent for) such Liabilities under the applicable Shared Contracts that are associated with the
benefits and rights made available to them (allocated in a manner consistent with past practice of Parent with respect to the Lithium Business), which shall be Lithium Liabilities for all purposes hereunder. Notwithstanding the foregoing, each party
and its Group shall be responsible for any or all Liabilities arising out of or resulting from such party’s or Group’s breach of the relevant Shared Contract. 

(c) The parties shall, and shall cause the members of their respective Group to, use their respective commercially reasonable efforts to work
together (and, if necessary and desirable, to work with the third party to each Shared Contract) in an effort to divide, partially assign, modify and/or replicate (in whole or in part) the respective rights and obligations under and in respect of
any Shared Contract, such that (i) a member of the 

  
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Lithium Group is the beneficiary of the rights and is responsible for the obligations related to that portion of such Shared Contract relating to the Lithium Business, which rights shall be a
Lithium Asset and which Liabilities shall be a Lithium Liability, and (ii) a member of the Parent Group is the beneficiary of the rights and is responsible for the obligations related to such Shared Contract relating to the Parent Business,
which rights shall be a Parent Asset and which obligations shall be a Parent Liability. 
 (d) If Parent or any member of the Parent Group,
on the one hand, or the Company or any member of the Lithium Group, on the other hand, receives any benefit or payment under any Shared Contract which was intended for the other party or its Group, Parent, on the one hand, or the Company, on the
other hand, will use its respective commercially reasonable efforts, or will cause any member of its Group to use its commercially reasonable efforts, to deliver, transfer or otherwise afford such benefit or payment to the other party. 

Section 2.06. Additional Conveyance Documents. In furtherance of the assignment, transfer and conveyance of Lithium Assets and the
assumption of Lithium Liabilities set forth in Section 2.02, on or prior to the Separation Date, (i) Parent shall execute and deliver, and shall cause its Subsidiaries to execute and deliver, such bills of sale, stock powers, certificates
of title, deeds, assignments of Contracts and other instruments of transfer, conveyance and assignment (collectively, the “Additional Parent Transfer Documents”) as and to the extent necessary to evidence the transfer, conveyance
and assignment of all of Parent’s and its Subsidiaries’ right, title and interest in and to the Lithium Assets to the Company, and (ii) the Company shall execute and deliver to Parent, and shall cause its Subsidiaries to execute and
deliver, such bills of sale, stock powers, certificates of title, assumptions of Contracts and other instruments of assumption (collectively, the “Additional Company Transfer Documents,” and together with the Additional Parent
Transfer Documents, the “Additional Transfer Documents”) as and to the extent necessary to evidence the valid and effective assumption of the Lithium Liabilities by the Company or a Subsidiary of the Company. For the avoidance of
doubt, Additional Transfer Documents shall exclude the Local Separation Agreements. 
 Section 2.07. Foreign Transfers. Parent
shall use its reasonable best efforts to effect the legal separation of the Lithium Assets and Lithium Liabilities, on the one hand, from the Parent Assets and the Parent Liabilities, on the other hand, that are located in jurisdictions outside the
United States prior to or on the Separation Date in accordance with the Plan of Reorganization, including pursuant to the Pre-IPO Restructuring Transactions. If all of the transactions necessary to effectuate
such legal separation in jurisdictions outside the United States are not completed on or before the Separation Date, then Parent may, at its election, (a) delay the Separation Date until such time as the legal separation of such Assets and
Liabilities in jurisdictions outside the United States is completed or (b) consummate the IPO on the Separation Date notwithstanding that such legal separation of Assets and Liabilities in jurisdictions outside the United States has not yet
been completed; provided that in the case of clause (b), Parent shall, and shall cause the members of the Parent Group to, use commercially reasonable efforts to complete such legal separation as soon as practicable following the Separation
Date in accordance with Section 2.08 in all respects. 

  
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 Section 2.08. Transfers Not Effected on or Prior to the Separation Date; Transfers
Deemed Effective as of the Separation Date. (a) To the extent that any transfers of Assets (including the capital stock or equity interests of any Lithium Subsidiary or Retained Subsidiary) or assumptions of Liabilities contemplated by this
Article II shall not have been consummated on, at or prior to the Separation Date because of a necessary Consent or Governmental Approval or because a condition precedent to any such transfer has not been satisfied or any relevant fact related
thereto has not been realized, the parties shall cooperate to effect such transfers or assumptions, as the case may be, as promptly following the Separation Date as shall be practicable. 

(b) Nothing herein shall be deemed to require the transfer of any Assets or the assumption of any Liabilities which by their terms or
operation of Law cannot be transferred or assumed without the receipt of an applicable Consent or Governmental Approval; provided, however, that the parties shall, and shall cause the members of their respective Groups to, cooperate
and use commercially reasonable efforts to seek to obtain any necessary Consents or Governmental Approvals for the transfer of all Assets and assumption of all Liabilities contemplated to be transferred or assumed pursuant to this Article II. In the
event that any transfer of Assets or assumption of Liabilities contemplated by this Agreement has not been consummated at or prior to the Separation Date (including any Assets or Liabilities described in Section 2.07 and the proviso thereto),
then from and after the Separation Date, (i) the party (or relevant member in its Group) retaining such Asset shall thereafter hold (or shall cause such member in its Group to hold) such Asset for the use and benefit of the party (or relevant
member in its Group) entitled thereto (at the expense of the Person entitled thereto) and (ii) the party intended to assume such Liability shall, or shall cause the applicable member of its Group to, pay or reimburse the party (or the relevant
member of its Group) retaining such Liability for all amounts paid or incurred in connection with the retention of such Liability. In addition, the party retaining such Asset or Liability (or relevant member of its Group) shall (or shall cause such
member in its Group to) treat, insofar as reasonably possible and to the extent permitted by applicable Law, such Asset or Liability in the ordinary course of business in accordance with past practice and take such other actions as may be reasonably
requested by the party to which such Asset or Liability is to be transferred or assumed in order to place such party, insofar as reasonably possible, in the same position as if such Asset or Liability had been transferred or assumed on or prior to
the Separation Date as contemplated hereby and so that all the benefits and burdens relating to such Asset or Liability, including possession, use, risk of loss, potential for gain, and dominion, control and command over such Asset or Liability, are
to inure from and after the Separation Date to the relevant member of the Parent Group or the Lithium Group, as the case may be, entitled to the receipt of such Asset or Liability. In furtherance of the foregoing, the parties agree that, as of the
Separation Date, each party shall be deemed to have acquired complete and sole beneficial ownership over all of the Assets, together with all rights, powers and privileges incident thereto, and shall be deemed to have assumed in accordance with the
terms of this Agreement all of the Liabilities, and all duties, obligations and responsibilities incident thereto, which such party is entitled to acquire or required to assume pursuant to the terms of this Agreement or, as applicable, an Ancillary
Agreement. 

  
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 (c) If and when the Consents, Governmental Approvals and/or conditions or facts, the
absence, non-satisfaction or existence of which caused the deferral of transfer of any Asset or assumption of any Liability pursuant to Section 2.08(b), are obtained, satisfied or realized, the transfer
or assignment of the applicable Asset or Liability shall be effected in accordance with and subject to the terms of this Agreement and/or the applicable Ancillary Agreement as promptly as practicable after the receipt of such Consents, Governmental
Approvals, satisfaction of such conditions or realization of such facts. 
 Section 2.09. Intellectual Property License. 

(a) License Grant. Effective from and after the Separation Date, Parent (on behalf of the Parent Group) hereby grants to the Company a non-exclusive, worldwide, fully paid-up, royalty-free, non-transferable (except as set forth herein),
non-sublicensable (except as set forth herein) license under the Intellectual Property owned by the Parent Group as of the Separation Date and included in the Parent Assets (other than any Trademarks), but
only to the extent used or held for use in the Lithium Business on or prior to the Separation Date, (the “Licensed IP”) to use, reproduce, create derivative works of, modify, distribute, make, have made, sell, offer for sale or
import products and services solely in connection with the operation of the Lithium Business as conducted as of the Separation Date (the “License”). 

(b) Sublicensing. The License includes the right for the Company to grant a sublicense to (i) any Lithium Subsidiary and
(ii) manufacturers, suppliers, distributors, contractors or consultants of the Lithium Business solely for the purpose of providing products and services to, or otherwise acting on behalf of and at the direction of, the Company; provided
that (x) each permitted sublicensee under clauses (i) or (ii) of this Section 2.09(b) shall be bound by all obligations of Company under this Agreement relating to the License; (ii) Company shall be liable for any breach of the
terms and conditions of this Agreement with respect to the License by any such sublicensee and (iii) any sublicense granted hereunder shall terminate upon the termination of the License. 

(c) Retention of Rights. The Company (on behalf of the Lithium Group) acknowledges and agrees that, as between the Lithium Group and
the Parent Group, the Parent or another member of the Parent Group is the sole and exclusive owner of all right, title and interest in and to the Licensed IP. All rights not expressly granted by Parent (on behalf of the Parent Group) herein are
hereby retained by the Parent Group. The License (including any sublicensing rights granted in Section 2.09(b) are subject to, and limited by, any and all licenses, rights, limitations and restrictions with respect to the Licensed IP previously
granted to or otherwise obtained by any third party that are in effect as of the Separation Date. 

  
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 (d) Assistance. Without limitation of the Services to be provided under the
Transition Services Agreement, the Parent Group shall not be obligated to provide any materials or embodiments of or related to the Licensed IP or any documentation, assistance, training, guidance, maintenance, support or any other service of any
kind whatsoever to the Company or any of its permitted sublicensees with respect to its or their use, installation or maintenance of the Licensed IP. 

Section 2.10. Disclaimer of Representations and Warranties. (a) EACH OF PARENT (ON BEHALF OF ITSELF AND EACH PERSON IN THE
PARENT GROUP) AND THE COMPANY (ON BEHALF OF ITSELF AND EACH PERSON IN THE LITHIUM GROUP) UNDERSTANDS AND AGREES THAT, EXCEPT AS EXPRESSLY SET FORTH HEREIN, NO PARTY TO THIS AGREEMENT, ANY ANCILLARY AGREEMENT, ANY LOCAL SEPARATION AGREEMENT OR ANY
OTHER AGREEMENT OR DOCUMENT CONTEMPLATED BY THIS AGREEMENT, ANY ANCILLARY AGREEMENT, ANY LOCAL SEPARATION AGREEMENT OR OTHERWISE, IS REPRESENTING OR WARRANTING TO ANY OTHER PARTY HERETO OR THERETO IN ANY WAY, EXPRESS OR IMPLIED, AS TO THE ASSETS,
BUSINESSES OR LIABILITIES TRANSFERRED, ASSUMED OR LICENSED AS CONTEMPLATED HEREBY OR THEREBY, AS TO ANY CONSENTS OR GOVERNMENTAL APPROVALS REQUIRED IN CONNECTION HEREWITH OR THEREWITH, AS TO THE VALUE OR FREEDOM FROM ANY LIENS OF, OR ANY OTHER
MATTER CONCERNING, ANY ASSETS OF SUCH PARTY, OR AS TO THE ABSENCE OF ANY DEFENSES OR RIGHT OF SETOFF OR FREEDOM FROM COUNTERCLAIM WITH RESPECT TO ANY CLAIM OR OTHER ASSET, INCLUDING ANY ACCOUNTS RECEIVABLE, OF ANY PARTY, OR AS TO THE LEGAL
SUFFICIENCY OF ANY ASSIGNMENT, DOCUMENT, CERTIFICATE OR INSTRUMENT DELIVERED HEREUNDER TO CONVEY TITLE TO ANY ASSET OR THING OF VALUE UPON THE EXECUTION, DELIVERY AND FILING HEREOF OR THEREOF. EXCEPT AS MAY EXPRESSLY BE SET FORTH HEREIN, ALL SUCH
ASSETS ARE BEING TRANSFERRED OR LICENSED ON AN “AS IS,” “WHERE IS” BASIS (AND, IN THE CASE OF ANY REAL PROPERTY, BY MEANS OF A QUITCLAIM OR SIMILAR FORM DEED OR CONVEYANCE WITHOUT WARRANTY) AND THE RESPECTIVE TRANSFEREES SHALL
BEAR THE ECONOMIC AND LEGAL RISKS THAT (I) ANY CONVEYANCE SHALL PROVE TO BE INSUFFICIENT TO VEST IN THE TRANSFEREE GOOD AND MARKETABLE TITLE, FREE AND CLEAR OF ANY LIEN, ENCUMBRANCE, CHARGE, ASSESSMENT OR OTHER ADVERSE CLAIM, AND (II) ANY
NECESSARY CONSENTS OR GOVERNMENTAL APPROVALS ARE NOT OBTAINED OR THAT ANY REQUIREMENTS OF LAWS OR JUDGMENTS ARE NOT COMPLIED WITH. ALL WARRANTIES OF HABITABILITY, MERCHANTABILITY, SUFFICIENCY, FITNESS FOR ANY PARTICULAR PURPOSE, FUNCTION,
ENVIRONMENTAL CONDITION, OPERATIONAL CONDITION, NON-INFRINGEMENT, VALIDITY AND ENFORCEABILITY AND ALL OTHER WARRANTIES ARISING UNDER THE UNIFORM COMMERCIAL CODE (OR SIMILAR
NON-U.S. LAWS) ARE HEREBY DISCLAIMED. 

  
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 Section 2.11. Issuance of Shares; Separation Payment. 

(a) In exchange for the consummation of the transactions contemplated by the foregoing sections of Article II, the Company (i) has, on or
prior to the date hereof, issued to Parent shares of Company Common Stock, and (ii) shall, promptly following the consummation of the IPO, make the Separation Payment to Parent by wire transfer of immediately available funds into an account or
accounts designated by Parent prior to the Separation Date. 
 (b) Parent shall maintain any funds received pursuant to the payment of the
Separation Payment in a non-interest bearing segregated bank account (the “Segregated Account”). As promptly as possible after receiving the Separation Payment, and in all events before the 12-month anniversary of the Distribution, Parent will distribute the cash held in the Segregated Account exclusively to (i) Parent’s creditors in retirement of outstanding Parent indebtedness, (ii) to
Parent’s shareholders in repurchase of, or distribution with respect to, its shares, or (iii) a combination of (i) and (ii). 

ARTICLE III 
 IPO;
PRE-IPO TRANSACTIONS 
 Section 3.01. The IPO. Subject to
the terms and conditions hereof, each of Parent and the Company shall use their commercially reasonable efforts to consummate the IPO, including by taking the actions specified in this Section 3.01, to the extent not undertaken and completed
prior to the execution of this Agreement: 
 (a) the Company shall prepare and file such amendments or supplements to the IPO Registration
Statement as may be necessary in order to cause the same to become and remain effective as required by the Underwriting Agreement, the SEC and applicable Law, including federal, state or foreign securities Laws, and shall cooperate in preparing,
filing with the SEC and causing to become effective any registration statements or amendments thereof that are required to reflect the establishment of, or amendments to, any employee benefit and other plans necessary or appropriate in connection
with the IPO or the other Transactions; 
 (b) the Company shall enter into the Underwriting Agreement, in form and substance reasonably
satisfactory to Parent, and shall comply with its obligations thereunder; 
 (c) the Company shall use its commercially reasonable efforts
to take all such actions as may be necessary or appropriate under state securities and blue sky laws of the United States (and any comparable Laws under any foreign jurisdictions) in connection with the IPO; 

(d) the Company shall prepare, file and use its commercially reasonable efforts to seek to make effective an application for listing of the
Company Common Stock issued in the IPO on NYSE; 

  
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 (e) the Company shall participate in the preparation of materials and presentations as any
of Parent and the Underwriters shall deem necessary or desirable in connection with the IPO; and 
 (f) the Company will cooperate in all
respects with Parent and the Underwriters in connection with the pricing of the Company Common Stock to be issued in the IPO and will, at any such party’s request, promptly take any and all actions necessary or desirable to consummate the IPO
as contemplated by the IPO Registration Statement and the Underwriting Agreement. 
 Section 3.02. Conditions Precedent to
Consummation of the IPO. The obligations of the parties to consummate the Separation and the settlement of the IPO shall be subject to the following conditions, which conditions shall be for the sole benefit of Parent, which conditions may be
waived by Parent in its sole and absolute discretion, and any determination by Parent regarding the satisfaction or waiver of any of such conditions shall be conclusive, and which conditions shall not give rise to or create any duty on the part of
Parent or the Parent Board to waive or not waive such conditions or in any way limit Parent’s right to terminate this Agreement as set forth in this Agreement or alter the consequences of any such termination from those specified in this
Agreement: 
 (a) final approval of the Separation and the IPO shall have been given by the Parent Board in its sole discretion; 

(b) the Separation shall have been completed in accordance with the provisions of Article II and the Plan of Reorganization; 

(c) the IPO Registration Statement shall have been filed and declared effective by the SEC, and there shall be no stop-order in effect with
respect thereto and no proceeding for that purpose shall have been instituted by the SEC; 
 (d) the actions and filings with regard to
state securities and blue sky Laws of the United States (and any comparable Laws under any foreign jurisdictions) referenced in Section 3.01(c) shall have been taken and, where applicable, have become effective or been accepted; 

(e) the Company Common Stock to be issued in the IPO shall have been accepted for listing on NYSE, subject to official notice of issuance;

 (f) the Company Financing Arrangements shall have been executed and delivered in accordance with the terms thereof; 

(g) immediately prior to the pricing of the IPO, the members of the Company Board, as named in the IPO Registration Statement, shall have been
duly elected, and an amended and restated certificate of incorporation of the Company and an amended and restated bylaws of the Company, each in substantially the form filed as an exhibit to the IPO Registration Statement, shall be in effect; 

  
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 (h) the Company shall have entered into the Underwriting Agreement and all conditions to the
obligations of Parent, the Company and the Underwriters shall have been satisfied or waived; 
 (i) Parent shall be satisfied, in its sole
discretion, that (i) it will possess Tax Control of the Company immediately following the settlement of the IPO, (ii) all other conditions relating to Tax-Free Status will, to the extent applicable
as of the time the IPO is consummated, be satisfied or can reasonably be anticipated to be satisfied, and (iii) there will be no event or circumstance that may cause any of such conditions not to be satisfied as of the time of the Distribution
or thereafter; 
 (j) after giving effect to the Separation, the IPO and the use of the proceeds therefrom as described in this Agreement
and the IPO Registration Statement, Parent shall be in compliance with all of the terms and conditions of the Parent Credit Facilities; 

(k) no order, injunction or decree issued by any Governmental Authority or other legal restraint or prohibition restraining or preventing the
consummation of the Separation, the IPO, the Distribution or any of the other Transactions shall be in effect; 
 (l) all Consents and
Governmental Approvals required in connection with the Separation and the IPO shall have been received, except where the failure to obtain such Consents or Governmental Approvals would not have a material adverse effect on either (i) the
ability of the parties to consummate the Transactions or (ii) the Lithium Business, taken as a whole; and 
 (m) this Agreement shall
not have been terminated. 
 ARTICLE IV 

THE DISTRIBUTION 

Section 4.01. The Distribution. Parent intends to, but shall not be obligated to, within eighteen (18) months following the
settlement of the IPO, but no earlier than the expiration or waiver by the Underwriters of the lock-up period described in the IPO Registration Statement, effect the Distribution. Parent shall, in its sole and
absolute discretion, determine the date of the consummation of the Distribution, if any, and all terms of the Distribution, including the form, structure and terms of any transaction(s) and/or offering(s) to effect the Distribution, the number of
shares of Company Common Stock distributed pursuant thereto and the timing of and conditions to the consummation of the Distribution. In addition, Parent may, at any time and from time to time until the completion of the Distribution, modify or
change the terms of the Distribution, including by accelerating or delaying the timing of the consummation of all or part of the Distribution. The Company shall cooperate with Parent in all respects to accomplish the Distribution and shall, at
Parent’s direction, promptly take any and all actions necessary or desirable to effect the Distribution, including, to the extent necessary, the registration under the Securities Act and the Exchange Act of the Company Common Stock on an
appropriate registration form or forms to be designated by Parent. Parent shall select any investment banker(s) and manager(s) in connection with the Distribution, as well as any 

  
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financial printer, solicitation and/or exchange agent and financial, legal, accounting and other advisors for Parent; provided, however, that nothing in this Agreement shall
prohibit the Company from engaging (at its own expense) its own financial, legal, accounting and other advisors in connection with the Distribution. For the avoidance of doubt, Parent shall have the right not to complete a Distribution for any or no
reason. 
 Section 4.02. Actions Prior to the Distribution. Subject to the conditions to the Distribution set out in
Section 4.03, the parties shall take the following actions in connection with the Distribution: 
 (a) Parent and the Company shall
(i) prepare and mail, prior to the date of any Distribution, to the holders of Parent Common Stock, such information concerning the Company and the Distribution and such other matters as Parent reasonably determines is necessary or desirable
and such information as may be required by Law, and (ii) file with the SEC any such documentation that Parent determines is necessary or desirable to effect the Distribution (including any registration statement on Form S-4 to be filed in connection with the Distribution), and Parent and the Company shall each use commercially reasonable efforts to obtain all necessary approvals from the SEC in connection therewith as soon as
practicable; 
 (b) the Company shall use commercially reasonable efforts to take all such action as may be necessary or desirable under
applicable state securities and blue sky Laws of the United States (and any comparable Laws under any foreign jurisdictions) in connection with the Distribution; 

(c) the Company shall prepare, file and use commercially reasonable efforts to seek to make effective an application for listing of the
Company Common Stock to be issued in the Distribution on NYSE; 
 (d) the Company shall take all commercially reasonable steps necessary or
desirable to cause the conditions set forth in Section 4.03 to be satisfied and to effect the Distribution, including, without limitation, providing to the exchange or distribution agent all share certificates and any information required in
order to complete the Distribution or any other disposition; and 
 (e) Parent and the Company shall reasonably cooperate with Davis
Polk & Wardwell, LLP, as counsel to Parent, to deliver customary representation letters in connection with the Tax Opinion (as defined below), and shall cooperate in obtaining any customary tax rulings or opinions, including under
applicable non-U.S. Law, deemed necessary or desirable by Parent, in its sole and absolute discretion. 

Section 4.03. Conditions to Distribution. The obligations of the parties hereto to consummate the Distribution are subject to the
satisfaction, or waiver by Parent in its sole and absolute discretion, of each of the following conditions, which conditions shall be for the sole benefit of Parent, which conditions may be waived by Parent in its sole and absolute discretion, and
any determination by Parent regarding the satisfaction or waiver of any of such conditions shall be conclusive, and which conditions shall not give rise to 

  
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or create any duty on the part of Parent or the Parent Board to waive or not waive such conditions or in any way limit Parent’s right to terminate this Agreement as set forth in this
Agreement or alter the consequences of any such termination from those specified in this Agreement; provided that for the avoidance of doubt, in the event that Parent determines not to consummate the Distribution because one or more of such
conditions is not satisfied or for any other reason, such determination by Parent shall not impact the effectiveness of the Separation or the IPO: 

(a) final approval of the Distribution shall have been given by the Parent Board in its sole discretion; 

(b) all actions and filings necessary or appropriate under applicable securities Laws of the United States or any state securities and blue
sky Laws of the United States (and any comparable Laws under any foreign jurisdictions) in connection with the Distribution shall have been taken or made, and, where applicable, have become effective or been accepted by the applicable Governmental
Authority; 
 (c) the Company Common Stock to be issued in the Distribution shall have been accepted for listing on NYSE, subject to
official notice of issuance; 
 (d) to the extent required by Parent in its sole discretion, Parent shall have received an opinion from
Davis Polk & Wardwell LLP, counsel to Parent, regarding the Tax-Free Status of the Contribution, the Separation Payment and the Distribution, taken together (the “Tax Opinion”); 

(e) no order, injunction or decree issued by any Governmental Authority or other legal restraint or prohibition restraining or preventing the
consummation of the Separation, the IPO, the Distribution or any of the other Transactions shall be in effect; and 
 (f) all Consents and
Governmental Approvals required in connection with the Distribution shall have been received, except where the failure to obtain such Consents or Governmental Approvals would not have a material adverse effect on either (i) the ability of the
parties to consummate the Transactions or (ii) the Lithium Business, taken as a whole. 
 ARTICLE V 

AFFIRMATIVE COVENANTS 

Section 5.01. Consents and Governmental Approvals. Not in limitation of any obligations of the parties hereunder, the members of
the Parent Group and the members of the Lithium Group shall cooperate to make all other filings and give notice to and obtain any Consent or Governmental Approval that may reasonably be required to consummate the Transactions; provided that
in no event shall any member of a Group have any Liability whatsoever to any member of the other Group for any failure to obtain any such Consent or Governmental Approval. 

  
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 Section 5.02. Licenses and Permits. Parent shall cause the members of the Parent
Group to prepare and file with the appropriate Governmental Authorities applications for the transfer or issuance, as may be necessary or advisable in connection with the Transactions, to the members of the Lithium Group of all material Governmental
Approvals, including all applicable Environmental Permits, required for the members of the Lithium Group to operate the Lithium Business and the members of the Lithium Group shall cooperate and use commercially reasonable efforts to secure the
transfer or issuance of such Governmental Approvals. 
 Section 5.03. Termination of Inter-Company Accounts and Agreements.
(a) Except as set forth in Section 5.03(b), in furtherance of the releases and other provisions of Section 8.01 hereof, the Company and each Person in the Lithium Group, on the one hand, and Parent and each Person in the Parent Group,
on the other hand, shall take all actions as are necessary or advisable to terminate any and all agreements, arrangements, commitments or understandings (including all intercompany accounts payable or accounts receivable between a member of the
Parent Group, on the one hand, and a member of the Lithium Group, on the other hand, accrued as of the Separation Date), whether or not in writing, between or among the Company or any member of the Lithium Group, on the one hand, and Parent and any
member of the Parent Group, on the other hand, effective as of or prior to the Separation Date. No such agreement, arrangement, commitment, understanding or intercompany account (including any provision thereof which purports to survive termination)
shall be of any further force or effect after the Separation Date. 
 (b) The provisions of Section 5.03(a) shall not apply to any of
the following agreements, arrangements, commitments, understandings or intercompany accounts (or to any of the provisions thereof): (i) this Agreement and the Ancillary Agreements (and each other agreement or instrument expressly contemplated by
this Agreement or any Ancillary Agreement to be entered into by any of the parties hereto or any member of their respective Groups); (ii) any agreements, arrangements, commitments or understandings set forth or described on Schedule 5.03(b)(ii);
(iii) any agreements, arrangements, commitments or understandings (including any Shared Contracts) to which any Person other than the parties hereto and their respective Affiliates is a party; and (iv) any other agreements, arrangements,
commitments, understandings or intercompany accounts that this Agreement or any Ancillary Agreement expressly contemplates will survive the Separation Date. 

Section 5.04. Financing Arrangements. Prior to or concurrently with the Separation, the Company shall enter into the Company
Financing Arrangements. To the extent applicable and to the extent not undertaken and completed prior to the execution of this Agreement, the Company shall take all such reasonable actions as may be necessary to ensure that (i) the Company
assumes all Liabilities under the Company Financing Arrangements and (ii) Parent and the members of the Parent Group shall have no obligation or liability thereunder as of the Separation Date. 

  
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 Section 5.05. Guarantees. Parent and the Company shall each use commercially
reasonable efforts to, and shall cause the members of their respective Groups to use commercially reasonable efforts to, effective as of the Separation Date, terminate or cause a member of the Lithium Group to be substituted in all respects for a
member of the Parent Group with respect to, and for the members of the Parent Group, as applicable, to be otherwise removed or released from, all obligations of any member of the Lithium Group under each guarantee, indemnity, surety bond, letter of
credit or letter of comfort (each, a “Guarantee”), given or obtained by any member of the Parent Group for the benefit of any member of the Lithium Group or the Lithium Business (including any Guarantee of any Environmental
Liability), other than the Guarantees listed on Schedule 5.05. Subject to any applicable terms of Schedule 5.05, if Parent and the Company have been unable to effect any such substitution, removal, release and termination with respect to any such
Guarantee as of the Separation Date, then, following the Separation Date, (a) the parties shall cooperate to effect such substitution, removal, release and termination as soon as reasonably practicable after the Separation Date, (b) the
Company and the members of the Lithium Group shall, from and after the Separation Date, indemnify against, hold harmless and promptly reimburse the members of the Parent Group for any payments made by members of the Parent Group and for any and all
Liabilities of the members of the Parent Group arising out of, or in performing, in whole or in part, any performance obligation in accordance with the underlying obligation under any such Guarantee (including, for the avoidance of doubt, any
Guarantee set forth on Schedule 5.05) (except to the extent the performance obligation under any such Guarantee shall have been triggered solely by an act or failure to act of the applicable guarantor (rather than the underlying obligor)), and
(c) without the prior written consent of an officer of Parent who is not also an officer of the Company or any member of the Lithium Group, no member of the Lithium Group may renew, extend the term of, increase any obligations under, or
transfer to a third Person, any Liability for which any member of the Parent Group is or might be liable pursuant to an applicable Guarantee (including, for the avoidance of doubt, any Guarantee set forth on Schedule 5.05) unless such Guarantee, and
all applicable obligations of the members of the Parent Group with respect thereto, are thereupon terminated pursuant to documentation reasonably acceptable to Parent; provided that the foregoing clause (c) shall not apply in the event
the members of the Lithium Group obtain a letter of credit from a financial institution reasonably acceptable to Parent and for the benefit of Parent with respect to such Liabilities of the Parent Group in respect of such Guarantee. 

Section 5.06. Bank Accounts; Cash Balances. (a) Parent and the Company shall, and shall cause the members of their respective
Group to, use commercially reasonable efforts such that, on or prior to the Separation Date, the Parent Group and the Lithium Group maintain separate bank accounts and separate cash management processes. 

(b) To the extent not completed prior to the Separation Date, Parent and the Company each agrees to take, or cause the members of their
respective Groups to take, all actions necessary to amend all Contracts governing each bank and brokerage account owned by the Company or any other member of the Lithium Group (collectively, the “Company Accounts”) so that such
Company Accounts, if linked (whether by automatic withdrawal, automatic deposit or any other authorization to transfer funds from or to, 

  
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hereinafter “linked”) to any bank or brokerage account owned by Parent or any other member of the Parent Group (collectively, the “Parent Accounts”) are de-linked from the Parent Accounts. It is intended that, subject to the terms of the Transition Services Agreement, as applicable, Parent and the Company will maintain separate bank accounts and separate cash
management processes following the Separation Date. 
 (c) With respect to any outstanding checks issued by Parent, the Company, or any of
their respective Subsidiaries prior to the Separation Date, such outstanding checks shall be honored following the Separation Date by the Person or Group owning the account on which the check is drawn. 

(d) As between Parent and the Company (and the members of their respective Groups), all payments made and reimbursements received after the
Separation Date by either party (or member of its Group) that relate to a Business, Asset or Liability of the other party (or member of its Group), shall be held by such party in trust for the use and benefit of the party entitled thereto and,
promptly upon receipt by such party of any such payment or reimbursement, such party shall pay over, or shall cause the applicable member of its Group to pay over, to the other party the amount of such payment or reimbursement without right of set-off. The parties hereto will reasonably cooperate to ensure that each party shall maintain, at all times prior to the clearance or settlement of any outstanding check or similar instrument drawn against any
applicable Company Account or Parent Account, sufficient balances to cover all outstanding checks or similar instruments drawn against such Company Account or Parent Account, as applicable. Notwithstanding the foregoing, neither Parent nor the
Company (nor any member of their respective Groups) shall act as collection agent for the other party, nor shall either party (or any member of its respective Group) act as surety or endorser with respect to
non-sufficient funds checks or funds to be returned, including in a bankruptcy or fraudulent conveyance action. 

ARTICLE VI 

EXCHANGE OF INFORMATION; CONFIDENTIALITY 

Section 6.01. Books and Records. Prior to the Distribution: 

(a) Subject to the terms of this Section 6.01, Parent and the Company shall, and shall cause the members of their respective Groups to,
transition and transfer (i) to the Company all Company Books and Records in the possession of Parent or any member of the Parent Group, and (ii) to Parent all Parent Books and Records in the possession of the Company or any member of the
Lithium Group. Without limiting any express delivery requirements under this Section 6.01 or any other provision of this Agreement or any Ancillary Agreement, neither party shall be required to conduct any general search or investigation of its
files. 
 (b) Each party may retain copies of books and records delivered to the other, subject to holding in confidence in accordance with
Section 6.09 information contained in such books and records. 

  
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 (c) Each party may in good faith refuse to furnish any books and records under this
Section 6.01 if it reasonably believes in good faith that doing so could materially adversely affect its ability to successfully assert a claim of Privilege; provided, however, that the parties shall take all commercially
reasonable measures to permit the compliance with such obligations in a manner that avoids any such harm or consequence. 
 (d) Neither
party shall be required to deliver to the other books and records or portions thereof which are subject to any Law or confidentiality agreements which would by their terms prohibit such delivery; provided, however, that if requested by
the other party, such party shall use commercially reasonable efforts to seek a waiver of or other relief from such confidentiality restriction. 

Section 6.02. Exchange of Information; Archives. (a) Except in the case of any Action involving or relating to any conflict
or dispute between any member of the Parent Group, on the one hand, and any member of the Lithium Group, on the other hand, and subject to Section 6.02(c), each of Parent and the Company, on behalf of its respective Group, agrees to provide, or
cause to be provided, to the other Group, at any time prior to the Distribution, as soon as reasonably practicable after written request therefor, access to the employees or other service providers of the other Group and any Information in the
possession or under the control of such respective Group that can be retrieved without unreasonable disruption to its Business, in each case which the requesting party reasonably needs (i) to comply with reporting, disclosure, filing, record
retention or other requirements imposed on the requesting party (including under applicable securities or tax Laws) by a Governmental Authority having jurisdiction over the requesting party, (ii) for use in any other judicial, regulatory,
administrative, tax or other proceeding or in order to satisfy audit, accounting, regulatory, litigation, environmental, tax or other similar requirements, in each case other than claims or allegations that one party to this Agreement or any member
of its Group has against the other party or any member of its Group, or (iii) subject to the foregoing clause (ii), to comply with its obligations under this Agreement. 

(b) Except in the case of any Action involving or relating to any conflict or dispute between any member of the Parent Group, on the one hand,
and any member of the Lithium Group, on the other hand, and subject to Section 6.02(c), after the Separation Date and at any time prior to the Distribution, each of the Parent Group, on the one hand, and the Lithium Group, on the other hand,
shall provide to such other Group access during regular business hours (as in effect from time to time) to Information that relates to the Business of such Group that is located in archives retained or maintained by such other Group (or, if such
Information does not exclusively relate to a party’s Business, to the portions of such Information that so exclusively relate), subject to appropriate restrictions for proprietary, privileged or confidential information and to the requirements
of an applicable state and/or federal regulation such as a Code of Conduct or Standard of Conduct, to the personnel, properties and information of such party and its Subsidiaries, and only insofar as such access is reasonably required by the other
party for legitimate business reasons, and only for the duration such access is required, and relates to such other party or the conduct of the business prior to the Separation Date. The Company or Parent, as applicable, may obtain copies (but not
originals) at their own expense of such Information for bona fide business purposes. The requesting party shall pay the applicable fee or rate per hour for archives research services (subject to increase from time to time to reflect rates then in
effect) for the providing party generally. 

  
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 (c)In the event any party reasonably determines that any such provision of Information could
be commercially detrimental, violate any Law or Contract, or waive or jeopardize any Privilege, such party shall not be required to provide access to or furnish such Information to the other party; provided, however, that the parties
shall take all commercially reasonable measures to permit the compliance with such obligations in a manner that avoids any such harm or consequence. 

Section 6.03. Ownership of Information. Any Information owned by one Group that is provided to a requesting party pursuant to
Section 6.02 shall be deemed to remain the property of the providing party. Unless expressly set forth in this Agreement, nothing contained in this Agreement shall be construed as granting or conferring any right, title or interest (whether by
license or otherwise) in, to or under any such Information. 
 Section 6.04. Compensation for Providing Information. The party
requesting access to Information agrees to reimburse the other party for the reasonable internal or external costs, if any, of providing such access and the costs incurred in creating, gathering and copying such Information, to the extent that such
costs are incurred for the benefit of the requesting party. 
 Section 6.05. Record Retention. To facilitate the possible
exchange of Information pursuant to this Article VI and other provisions of this Agreement after the Separation Date, the parties agree to use their commercially reasonable efforts to retain all Information in their respective possession or control
on the Separation Date in accordance with the record retention policies of Parent as in effect from time to time or such other policies as may be reasonably adopted by the appropriate party after the Separation Date. For the avoidance of doubt, such
policies shall be deemed to apply to any Information in a party’s possession or control on the Separation Date relating to the other party or members of its Group. 

Section 6.06. Limitation of Liability. Except as otherwise provided in this Article VI, no party shall have any liability to any
other party in the event that any Information exchanged or provided pursuant to this Agreement is found to be inaccurate or the requested Information is not provided, in the absence of willful misconduct by the party requested to provide such
Information. No party shall have any liability to any other party if any Information is destroyed after commercially reasonable efforts by such party to comply with the provisions of Section 6.05. 

Section 6.07.Other Agreements Providing for Exchange of Information. The rights and obligations granted under this Article VI are
subject to any specific limitations, qualifications or additional provisions on the sharing, exchange, retention, rights to use, or confidential treatment of Information set forth in any Ancillary Agreement. 

  
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 Section 6.08. Production of Witnesses; Records; Cooperation. (a) After the
Separation Date, except in the case of any Action among the parties to this Agreement involving or relating to any conflict or dispute between any member of the Parent Group, on the one hand, and any member of the Lithium Group, on the other hand,
each party hereto will use its commercially reasonable efforts to make available to each other party, upon written request, the then-current directors, officers, employees, other personnel and agents of the Person in its respective Group as
witnesses and any books, records or other documents within its control or which it otherwise has the ability to make available, to the extent that any such Person (giving consideration to business demands of such directors, officers, employees,
other personnel and agents) or books, records or other documents may reasonably be required in connection with any Action in which indemnification is or may reasonably be expected to be sought in which the requesting party may from time to time be
involved. The requesting party shall bear all costs and expenses in connection therewith. 
 (b) If an Indemnifying Party or Indemnitee
chooses to defend or seeks to compromise or settle any Third-Party Claim, the other party shall make available to such Indemnifying Party or Indemnitee, as applicable, upon written request then-current directors, officers, employees, other personnel
and agents of the Persons in its respective Group as witnesses and any Information within its control or possession, to the extent that any such Person (giving consideration to business demands of such directors, officers, employees, other personnel
and agents) or books, records or other documents may reasonably be required in connection with such defense, settlement or compromise, or such prosecution, evaluation or pursuit, as the case may be, and shall otherwise reasonably cooperate in such
defense, settlement or compromise, or such prosecution, evaluation or pursuit, as the case may be. 
 (c) Without limiting the foregoing,
the parties shall cooperate and consult to the extent reasonably necessary with respect to any Actions in which indemnification is or may reasonably be expected to be sought. 

(d) The obligations of the parties to provide witnesses pursuant to this Section 6.08 is intended to be interpreted in a manner so as to
facilitate cooperation and shall include the obligation to provide as witnesses employees and other officers without regard to whether the witness or the employer of the witness could assert a possible business conflict (subject to the exception set
forth in the first sentence of Section 6.08(a)). 
 (e) In connection with any matter contemplated by this Section 6.08, the
parties will enter into a mutually acceptable joint defense agreement so as to maintain to the extent practicable any applicable Privilege of any member of any respective Group. 

Section 6.09. Confidentiality. (a) Subject to Section 6.10, each of Parent and the Company (each, a “Receiving
Party”), on behalf of itself and each Person in its respective Group, agree 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 

  
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proprietary information of Parent pursuant to its practices and policies in effect as of the Separation Date, all Information with respect to Parent, solely concerning the Lithium Business (for
which the Company shall be the “Disclosing Party”) and with respect to the Company, concerning the Parent Business (for which Parent shall be the “Disclosing Party”) that is accessible to it, in its possession
(including Information in its possession prior to the Separation Date) or furnished by the Disclosing Party or any Person in its respective Group, or accessible to, in the possession of, or furnished to the Company’s respective directors,
officers, employees, agents, accountants, counsel and other advisors and representatives at any time pursuant to this Agreement 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) Each party acknowledges that it and the other members of its Group may have in
their possession confidential or proprietary Information of third parties that was received under confidentiality or non-disclosure agreements with such third party prior to the Separation Date. Such party
will hold, and will cause the other members of its Group and their respective representatives to hold, in strict confidence the confidential and proprietary information of third parties to which they or any other member of their respective Groups
has access, in accordance with the terms of any agreements entered into prior to the Separation Date between one or more members of such party’s Group (whether acting through, on behalf of, or connection with, the separated businesses) and such
third parties. 
 (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. 
 (d) Notwithstanding
anything to the contrary in this Article VI, (i) to the extent that an Ancillary Agreement or other Contract pursuant to which a party hereto or a Person in its respective Group is bound or its confidential Information is subject provides that
certain Information shall be maintained confidential on a basis that is more protective of such Information or for a longer period of time than provided for herein, then the applicable provisions contained in such Ancillary Agreement or other
Contract shall control with respect thereto and (ii) a party and the Persons in its respective Group shall have no right to use any Information of the Disclosing Party unless otherwise provided for in this Agreement, an Ancillary Agreement or a
Contract between the parties or a member of their respective Groups. 

  
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 (e) Notwithstanding the foregoing, no provision of this Agreement or any Ancillary
Agreement, including this Section 6.09, 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 6.10. Protective Arrangements. 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.  

Section 6.11. Preservation of Legal Privileges. (a) Parent and the Company recognize that the members of their respective
groups possess and will possess information and advice that has been previously developed but is legally protected from disclosure under legal privileges, such as the attorney-client privilege or work product exemption and other concepts of legal
protection (“Privilege”). Each party recognizes that they shall be jointly entitled to the Privilege with respect to such privileged information and that each shall be entitled to maintain, preserve and assert for its own benefit
all such information and advice, but both parties shall ensure that such information is maintained so as to protect the Privileges with respect to the other party’s interest. To that end, neither party will knowingly waive or compromise any
Privilege associated with such information and advice without the prior written consent of the other 

  
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party. In the event that privileged information is required to be disclosed to any arbitrator or mediator in connection with a dispute between the parties, such disclosure shall not be deemed a
waiver of Privilege with respect to such information, and any party receiving it in connection with a proceeding shall be informed of its nature and shall be required to safeguard and protect it. 

(b) The rights and obligations created by this Section 6.11 shall apply to all information relating to the Lithium Business as to which,
but for the Separation, either party would have been entitled to assert or did assert the protection of a Privilege, including (i) any and all information generated prior to the Separation Date but which, after the Separation, is in the
possession of either party and (ii) all information generated, received or arising after the Separation Date that refers to or relates to information described in the preceding clause (i). 

(c) Upon receipt by either party of any subpoena, discovery or other request that may call for the production or disclosure of information
that is the subject of a Privilege, or if a party obtains knowledge that any current or former employee of a party has received any subpoena, discovery or other request that may call for the production or disclosure of such information, such party
shall provide the other party a reasonable opportunity to review the information and to assert any rights it may have under this Section 6.11 or otherwise to prevent the production or disclosure of such information. Absent receipt of written
consent from the other party to the production or disclosure of information that may be covered by a Privilege, each party agrees that it will not produce or disclose any information that may be covered by a Privilege unless a court of competent
jurisdiction has entered a final, nonappealable order finding that the information is not entitled to protection under any applicable Privilege. 

(d) Parent’s transfer of Company Books and Records and other Information to the Company, Parent’s agreement to permit the Company to
obtain Information existing prior to the Separation Date, the Company’s transfer of Parent Books and Records and other Information and the Company’s agreement to permit Parent to obtain Information existing prior to the Separation Date are
made in reliance on Parent’s and the Company’s respective agreements, as set forth in Section 6.09, Section 6.10 and this Section 6.11, to maintain the confidentiality of such Information and to take the steps provided
herein for the preservation of all Privileges that may belong to or be asserted by Parent or the Company, as the case may be. The access to Information being granted pursuant to Section 6.02 hereof, the agreement to provide witnesses and
individuals pursuant to Section 6.08 hereof and the disclosure to Parent and the Company of Privileged Information relating to the Lithium Business or Parent Business pursuant to this Agreement in connection with the Separation shall not be
asserted by Parent or the Company to constitute, or otherwise deemed, a waiver of any Privilege that has been or may be asserted under this Section 6.11 or otherwise. Nothing in this Agreement shall operate to reduce, minimize or condition the
rights granted to Parent and the Company in, or the obligations imposed upon the parties by, this Section 6.11. 

  
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 (e) All communications between members of the Parent Group, on the one hand, and Davis
Polk & Wardwell LLP or any other internal or external legal counsel currently representing the Lithium Group, on the other hand, related to the Transactions shall be deemed to be attorney-client confidences and Privileges that belong solely
to the members of the Parent Group. 
 Section 6.12. Tax Records. Notwithstanding anything in this Article VI to the contrary,
the Tax Matters Agreement shall govern the retention of Tax related records and the exchange of Tax related information. 
 ARTICLE VII 

INSURANCE MATTERS 

Section 7.01. Insurance Prior to the Distribution Time. Except as may otherwise be expressly provided in this Article VII, the
Company does hereby agree, for itself and on behalf of each member of the Lithium Group, that the Parent Group shall not have any Liability whatsoever to the Lithium Group to the extent such Liability is related to, arising out of or resulting from
the Policies, insurance contracts and claim administration contracts and practices related to the foregoing of the Parent Group in effect at any time prior to the Trigger Time, including as a result of the level, scope or any of the terms and
conditions of any such Policies, insurance contracts, claim administration contracts and practices, and any other administration and/or adjustment activity with respect thereto, undertaken by Parent or any member of the Parent Group prior to the
Trigger Time, the creditworthiness of any insurance carrier, the adequacy or timeliness of any notice, or lack thereof, to any insurance carrier, bank trustee for any insurer, scheme administrator for any insurer, or claims administrator with
respect to any actual claim or potential claim or otherwise. 
 Section 7.02. Ownership of Existing Policies and Programs.
Parent or the applicable member of the Parent Group will continue to own all Policies, insurance contracts and claim administration contracts of any kind of any member of the Parent Group and the Lithium Group which were or are in effect at any
time at or prior to the Trigger Time (other than the Post-Separation Insurance Arrangements), together with all rights, benefits and privileges under any of the foregoing (collectively, the “Parent Policies”), provided that
Parent Policies shall not include Policies, insurance contracts and claim administration contracts exclusively related to the Lithium Business and which are set forth on Schedule 7.02. Subject to the provisions of this Agreement, including the
rights of the members of the Lithium Group under Section 7.04, (a) the members of the Parent Group shall retain all of their respective rights, benefits and privileges, if any, under the Parent Policies and (b) coverage of the Lithium
Group under the Parent Policies shall cease as of the Trigger Time with respect to all Liabilities to the extent incurred or suffered by the Lithium Group in connection with, relating to, arising out of or due to, directly or indirectly, any act,
error, omission, event or occurrence at or after the Trigger Time. Nothing contained herein shall be construed to be an attempted assignment of or a change to any part of the ownership of the Parent Policies or shall be construed to waive any right
or remedy of any member of the Parent Group in respect thereof. No provision of this Agreement is intended to relieve any insurer of any Liability under any Policy. 

  
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 Section 7.03. Acquisition and Maintenance of Post-Separation Insurance.
Commencing on and as of the Trigger Time, the Company shall be responsible for establishing and maintaining a separate insurance program consisting of the types of Policies and coverages that the Company considers appropriate to carry on behalf
of the Lithium Group (the “Post-Separation Insurance Arrangements”). Each member of the Lithium Group, as appropriate, shall be responsible for all administrative and financial matters relating to the Post-Separation Insurance
Arrangements and claims relating to any period at or after the Trigger Time involving any member of the Lithium Group. 
 Section 7.04.
Rights Under Shared Policies. At and after the Trigger Time, the Company and the members of the Lithium Group will have the right, but not the obligation, to assert claims for any Liabilities with respect to the Lithium Business, to the
extent assumed by the Company or any member of the Lithium Group pursuant to this Agreement, under Parent Policies that cover any member of the Lithium Group and/or any or all of the Lithium Business within the definition of the named insured,
additional named insured, additional insured or insured (excluding, for the avoidance of doubt, any group health and welfare insurance policies) with third-party insurers (excluding any self-insured, captive insurance or similar program) that are
“occurrence based” excess liability Policies (collectively, the “Shared Policies”) arising out of insured occurrences occurring from the date coverage thereunder first commenced until the Trigger Time to the extent that
the terms and conditions of any such Shared Policies and agreements relating thereto so allow (all such claims pursuant to Shared Policies in accordance with this Section 7.04, “Covered Claims”); provided that: 

(a) the Parent Group may, at any time, without liability or obligation to the Lithium Group, amend, commute, terminate, buy-out, release, sell back, extinguish liability under or otherwise modify any Shared Policies (and such claims shall be subject to any such amendments, commutations, terminations,
buy-outs, releases, sale back arrangements, extinguishments and modifications); 
 (b) the Company
will promptly notify Parent of any Covered Claim and consult with Parent (and Parent will promptly respond to the Company’s request to consult) regarding such Covered Claim, and Parent shall use commercially reasonable efforts to assert and
prosecute such Covered Claim in accordance with the terms of Section 7.05, to the extent that the terms and conditions of any such Shared Policy and agreements relating thereto so allow, and shall provide the Company with regular updates on the
status of such Covered Claim; provided that no member of the Parent Group will bear any liability for the failure of an insurer to pay any claim under any Shared Policy; 

(c) subject to Sections 7.04(d) and 7.04(e), any proceeds received by Parent or the members of the Parent Group from any third-party insurer
that relate to any Covered Claim will be promptly paid to the Company by Parent or the applicable member of the Parent Group; provided, however, that any such recovery and payment will be subject to (x) the amount of any
applicable deductibles, retentions or matching deductible provisions, and, with respect to any such deductibles, retentions or matching deductible provisions which require a payment by a member of the Parent Group in respect thereof, the Company
will make such payment on behalf of Parent or the applicable member of the Parent Group, and (y) any claims handling expenses, unreimbursed allocated loss adjustment or defense expenses and any amounts related to, arising out of or resulting
from any residual Liability arising from such Covered Claim; 

  
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 (d) in the event that a Covered Claim relates to the same occurrence for which Parent is
seeking coverage under any Shared Policy (a “Related Claim” and each other Covered Claim, an “Unrelated Claim”), any proceeds received by Parent or the members of the Parent Group from any third-party insurer that
relate to such Related Claim will be allocated, subject to Section 7.04(e) and existing sublimits and aggregate limits of such Shared Policy, pro rata based on the share of the loss incurred by each of Parent and the Company (or the
members of their respective Groups); 
 (e) any Covered Claims will be subject to exhaustion of the Shared Policies, including existing
sublimits and aggregate limits, and to the extent any such limits preclude payment in full of Parent and the Company (and the members of each of their respective Groups), the insurance proceeds available under such Shared Policy will be allocated
between Parent and the Company as follows: 
 (i) in the case of Unrelated Claims, on a FIFO Basis; and 

(ii) in the case of Related Claims, pro rata based on available insurance proceeds pursuant to such Shared Policy as if
the coverage for such Related Claims was infinite; 
 (f) in no event (except as provided in Section 7.04(d)) will any member of the
Parent Group have any Liability whatsoever to any member of the Lithium Group if (x) any Shared Policy is terminated or otherwise ceases to be in effect for any reason, is unavailable or inadequate to cover any Liability of any member of the
Lithium Group for any reason whatsoever or is not renewed or extended beyond the current expiration date, or (y) any insurer fails to pay any claim under any Shared Policy; and 

(g) any amounts unpaid by the Company in accordance with the terms of this Article VII shall be subject to the terms of Section 8.02.

 Section 7.05. Claims Administration. In connection with making any Covered Claim (including any Related Claim or Unrelated
Claim), without any prejudice or limitation to Parent seeking insurance under the Shared Policies for its own claims (including in respect of any Covered Claim), Parent will control the administration of all Covered Claims (other than such functions
of claims administration that are performed by any insurer pursuant to an applicable Shared Policy at the time such claims are made) and shall administer such Covered Claims in a manner that is consistent in all material respects, including with
respect to the timing of assertion and pursuit of coverage, with the claims administration of Parent in respect of its own claims, and the Company will (x) cooperate and assist Parent with respect to such Covered Claim and (y) not take any
action that would compromise or impair Parent’s ability to prosecute such Covered Claim; provided that, if there is an actual or potential conflict of interest in such pursuit, prosecution and/or defense of any Related Claim, which, in
the reasonable opinion of 

  
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either party, would otherwise prevent the conduct of such claims administration by Parent, the parties will cooperate to prosecute and/or defend such coverage dispute with respect to, and to
pursue coverage under, such Shared Policy pursuant to appropriate arrangements (which arrangements may require each party to retain separate counsel) for the administration of such Related Claim as may be agreed upon by the parties and permitted by
such Shared Policy. Nothing in this Article VII will be construed to limit or otherwise alter in any way the indemnity obligations of the parties, including those created by this Agreement, by operation of law or otherwise. 

Section 7.06. Non-Waiver of Rights to Coverage. An insurance carrier that would otherwise
be obligated to pay any claim shall not be relieved of the responsibility with respect thereto, or, solely by virtue of the provisions of this Article VII, have any subrogation rights with respect thereto, it being expressly understood and agreed
that no insurance carrier or any third party shall be entitled to a benefit (i.e., a benefit such Person would not be entitled to receive had the Separation not occurred or in the absence of the provisions of this Article VII) by virtue of the
provisions hereof. 
 ARTICLE VIII 

MUTUAL RELEASES; INDEMNIFICATION 

Section 8.01. Mutual Release of Pre-Closing Claims. (a) Except as provided in
Section 8.01(c) and Section 8.03, effective as of the Separation Date, the Company does hereby, for itself and for each member of the Lithium Group as of the Separation Date and their respective successors and assigns and all Persons who
at any time prior to the Separation Date have been directors, officers, agents or employees of any member of the Lithium Group (in each case, in their respective capacities as such), release and forever discharge Parent and each member of the Parent
Group, and all Persons who at any time prior to the Separation Date have been stockholders, directors, officers, managers, members, agents or employees of any Person in the Parent Group (in each case, in their respective capacities as such), and
their respective heirs, executors, administrators, successors and assigns, from any and all Liabilities whatsoever, whether at law or in equity (including any rights of contribution or recovery), whether arising under any Contract, by operation of
Law or otherwise, existing or arising from any acts or events occurring or failing to occur or alleged to have occurred or to have failed to occur or any conditions existing or alleged to have existed in each case on or before the Separation Date,
including in connection with the Transactions and all other activities to implement the Transactions and any of the other transactions contemplated hereunder, and under any of the Ancillary Agreements and pursuant to the Plan of Reorganization. 

(b) Except as provided in Section 8.01(c) and Section 8.02, effective as of the Separation Date, Parent does hereby, for itself and
for each member of the Parent Group as of the Separation Date and their respective successors and assigns and all Persons who at any time prior to the Separation Date, have been directors, officers, agents or employees of any member of the Parent
Group (in each case, in their respective capacities as such), remise, release and forever discharge the Company and each member of the Lithium Group as of the Separation Date, and all Persons who at any time prior to

  
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the Separation Date have been stockholders, directors, officers, managers, members, agents or employees of any Person in the Lithium Group (in each case, in their respective capacities as such),
and their respective heirs, executors, administrators, successors and assigns, from any and all Liabilities whatsoever, whether at law or in equity (including any rights of contribution or recovery), whether arising under any Contract, by operation
of Law or otherwise, including for fraud, existing or arising from any acts or events occurring or failing to occur or alleged to have occurred or to have failed to occur or any conditions existing or alleged to have existed in each case on or
before the Separation Date, including in connection with the Transactions and all other activities to implement the Transactions and any of the other transactions contemplated hereunder, under any of the Ancillary Agreements and pursuant to the Plan
of Reorganization. 
 (c) Nothing contained in Section 8.01(a) or (b) shall (x) impair any right of any Person to enforce this
Agreement, any Ancillary Agreement or any Contracts that are specified in Section 5.03(b) or the applicable schedules thereto not to terminate as of the Separation Date, in each case in accordance with its terms or (y) release any Person
from: 
 (i) any Liability provided in or resulting from any Contract among any Persons in the Parent Group or the Lithium
Group that is specified in Section 5.03(b) or the applicable schedules thereto as not to terminate as of the Separation Date, or any other Liability specified in such Section 5.03(b) as not to terminate as of the Separation Date; 

(ii) any Liability assumed or retained by, or transferred, assigned or allocated to, the Group of which such Person is a member
in accordance with, or any other Liability of any Person in any Group under, this Agreement or any Ancillary Agreement, including (A) with respect to the Company, any Lithium Liability, and (B) with respect to Parent, any Parent Liability;

 (iii) any Liability provided in or resulting from any Contract or understanding that is entered into after the Separation
Date between a member of the Parent Group, on the one hand, and a member of the Lithium Group, on the other hand; 
 (iv) any
Liability that the parties may have with respect to claims for indemnification, recovery or contribution brought pursuant to this Agreement or any Ancillary Agreement, which Liability shall be governed by the provisions of this Article VIII or, if
applicable, the appropriate provisions of the Ancillary Agreements; or 
 (v) any Liability the release of which would result
in the release of any Person other than a Person released pursuant to this Section 8.01, in which case solely to the extent the release would result in the release of such other Person. 

  
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 In addition, nothing contained in Section 8.01(a) shall release Parent from
indemnifying any director, officer or employee of the Company who was a director, officer or employee of Parent or any of its Affiliates on or prior to the Separation Date, to the extent such director, officer or employee is or becomes a named
defendant in any Action with respect to which he or she was entitled to such indemnification pursuant to obligations existing prior to the Separation Date, it being understood that if the underlying obligation giving rise to such Action is a Lithium
Liability, the Company shall indemnify Parent for such Liability (including Parent’s costs to indemnify the director, officer or employee) in accordance with the provisions set forth in this Article VIII. 

(d) The Company shall not, and shall not permit any Person in the Lithium Group to, make any claim or demand, or commence any Action asserting
any claim or demand, including any claim of contribution, recovery or any indemnification, against Parent or any Person in the Parent Group, or any other Person released pursuant to Section 8.01(a), with respect to any Liabilities released
pursuant to Section 8.01(a). Parent shall not, and shall not permit any Person in the Parent Group to, make any claim or demand, or commence any Action asserting any claim or demand, including any claim of contribution, recovery or any
indemnification against the Company or any Person in the Lithium Group, or any other Person released pursuant to Section 8.01(b), with respect to any Liabilities released pursuant to Section 8.01(b). If any Person associated with either
Parent or the Company (including any of their respective directors, officers, agents or employees) initiates an Action with respect to claims released by this Section 8.01, the party with which such Person is associated shall indemnify the
other party against such Action in accordance with the provisions set forth in this Article VIII. 
 (e) It is the intent of each of Parent
and the Company, by virtue of the provisions of this Section 8.01, to provide for a full and complete release and discharge of all Liabilities existing or arising from all acts and events occurring or failing to occur or alleged to have
occurred or to have failed to occur and all conditions existing or alleged to have existed in each case on or before the Separation Date, between or among the Company or any member of the Lithium Group, on the one hand, and Parent or any Person in
the Parent Group, on the other hand (including any contractual agreements or arrangements existing or alleged to exist between or among any such Persons on or before the Separation Date), except as expressly set forth in Section 8.01(c),
Section 8.02 or Section 8.03, as applicable. At any time, at the request of any other party, each party shall cause each member of its respective Group and, to the extent practicable, each other Person to execute and deliver releases
reflecting the provisions hereof. 
 Section 8.02. Indemnification by the Company. Except as provided in Section 8.06, the
Company shall indemnify, defend and hold harmless Parent and each member of the Parent Group and each of their Affiliates and Parent’s, each member of the Parent Group’s and their respective Affiliates’ directors, officers, employees
and agents, and each of the heirs, executors, successors and assigns of any of the foregoing (collectively, the “Parent Indemnitees”), from and against any and all Losses of the Parent Indemnitees relating to, arising out of or
resulting from any of the following items (without duplication and including any such Losses arising by way of setoff, counterclaim or defense or enforcement of any Lien): 

  
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 (a) all Lithium Liabilities, including the failure of the Company or any member of the
Lithium Group or any other Person to pay, perform or otherwise promptly discharge any Lithium Liability in accordance with its terms; 
 (b)
the Lithium Business; 
 (c) any breach by the Company or any member of the Lithium Group of this Agreement or any of the Ancillary
Agreements; 
 (d) any breach by the Company of any of the representations and warranties made by the Company on behalf of itself and the
members of the Lithium Group in this Agreement or any Ancillary Agreement; 
 (e) any use by the Company or any of its permitted
sublicensees of any Licensed IP; and 
 (f) any untrue statement or alleged untrue statement of a material fact or omission or alleged
omission to state a material fact required to be stated therein or necessary to make the statements therein not misleading, with respect to all information contained in any Disclosure Document with respect to the IPO other than any such statement or
omission in the Disclosure Document furnished by Parent solely in respect of Parent expressly for use in such Disclosure Document. 

Notwithstanding anything to the contrary herein, in no event will any Parent Indemnitee have the right to seek indemnification from the
Company or any member of the Lithium Group with respect to any claim or demand against any Person in the Parent Group for the satisfaction of the Parent Liabilities. 

Section 8.03. Indemnification by Parent. Except as provided in Section 8.06, Parent shall indemnify, defend and hold harmless
the Company, each member of the Lithium Group and each of their Affiliates and the Company’s, each member of the Lithium Group’s and their respective Affiliates’ respective directors, officers, employees and agents, and each of the
heirs, executors, successors and assigns of any of the foregoing (collectively, the “Company Indemnitees”), from and against any and all Losses of the Company Indemnitees relating to, arising out of or resulting from any of the
following items (without duplication and including any Losses arising by way of setoff, counterclaim or defense or enforcement of any Lien): 

(a) all Parent Liabilities, including the failure of Parent or any member of the Parent Group or any other Person to pay, perform or otherwise
promptly discharge any Parent Liability in accordance with its terms; 
 (b) the Parent Business; 

(c) any breach by Parent or any member of the Parent Group of this Agreement or any of the Ancillary Agreements; 

  
 50 

 (d) any breach by Parent of any of the representations and warranties made by Parent on
behalf of itself and the members of the Parent Group in this Agreement or any Ancillary Agreement; and 
 (e) any untrue statement or
alleged untrue statement of a material fact or omission or alleged omission to state a material fact required to be stated therein or necessary to make the statements therein not misleading, with respect to all information contained in any
Disclosure Document with respect to the IPO, the Distribution or otherwise, in each case solely to the extent furnished by Parent solely in respect of Parent and expressly for use in such Disclosure Document and which information is set forth on
Schedule 8.03(e). 
 Notwithstanding anything to the contrary herein, in no event will any Company Indemnitee have the right to seek
indemnification from the Parent or any member of the Parent Group with respect to any claim or demand against any Person in the Lithium Group for the satisfaction of the Lithium Liabilities. 

Section 8.04.Third-Party Claims. (a) If an Indemnitee shall receive notice or otherwise learn of the assertion by a Person
(including any Governmental Authority) who is not a Person in the Parent Group or the Lithium Group of any claim or of the commencement by any such Person of any Action with respect to which an Indemnifying Party may be obligated to provide
indemnification to such Indemnitee pursuant to Section 8.02 or Section 8.03, or any other Section of this Agreement (collectively, a “Third-Party Claim”), such Indemnitee shall give such Indemnifying Party written notice
thereof as promptly as practicable (and in any event within forty-five (45) days) after becoming aware of such Third-Party Claim. Any such notice shall describe the Third-Party Claim in reasonable detail. Notwithstanding the foregoing, the
failure of any Indemnitee or other Person to give notice as provided in this Section 8.04(a) shall not relieve the related Indemnifying Party of its obligations under this Article VIII, except to the extent, and only to the extent, that such
Indemnifying Party is materially prejudiced by such failure to give notice. 
 (b) An Indemnifying Party may elect (but shall not be
required) to defend, at such Indemnifying Party’s own expense and by such Indemnifying Party’s own counsel (which counsel shall be reasonably satisfactory to the Indemnitee), any Third-Party Claim; provided that the Indemnifying
Party shall not be entitled to defend and shall pay the reasonable fees and expenses of one separate counsel for all Indemnitees if the claim for indemnification relates to or arises in connection with any criminal action, indictment or allegation.
Within forty-five (45) days after the receipt of notice from an Indemnitee in accordance with Section 8.04(a) (or sooner, if the nature of such Third-Party Claim so requires), the Indemnifying Party shall notify the Indemnitee of its
election whether the Indemnifying Party will assume responsibility for defending such Third-Party Claim, which election shall specify any reservations or exceptions to its defense. After notice from an Indemnifying Party to an Indemnitee of its
election to assume the defense of a Third-Party Claim, such Indemnitee shall have the right to employ separate counsel and to participate in (but not control) the defense, compromise, or settlement thereof, but the fees and expenses of such counsel
shall be the expense of such Indemnitee; provided, 

  
 51 

 
however, in the event that (i) the Indemnifying Party has elected to assume the defense of the Third-Party Claim but has specified, and continues to assert, any reservations or
exceptions in such notice or (ii) the Third-Party Claim involves injunctive or equitable relief, then, in any such case, the reasonable fees and expenses of one separate counsel for all Indemnitees shall be borne by the Indemnifying Party. 

(c) If an Indemnifying Party elects not to assume responsibility for defending a Third-Party Claim, or fails to notify an Indemnitee of its
election as provided in Section 8.04(b), such Indemnitee may defend such Third-Party Claim at the cost and expense of the Indemnifying Party. Any legal fees and expenses incurred by the Indemnitee in connection with defending such claim shall
be paid by the Indemnifying Party at the actual rates charged by counsel. 
 (d) Unless the Indemnifying Party has failed to assume the
defense of the Third-Party Claim in accordance with the terms of this Agreement, no Indemnitee may settle or compromise any Third-Party Claim without the consent of the Indemnifying Party. If an Indemnifying Party has failed to assume the defense of
the Third-Party Claim within the time period specified in clause (b) above, it shall not be a defense to any obligation to pay any amount in respect of such Third-Party Claim that the Indemnifying Party was not consulted in the defense thereof,
that such Indemnifying Party’s views or opinions as to the conduct of such defense were not accepted or adopted, that such Indemnifying Party does not approve of the quality or manner of the defense thereof or that such Third-Party Claim was
incurred by reason of a settlement rather than by a judgment or other determination of liability. 
 (e) In the case of a Third-Party Claim,
no Indemnifying Party shall consent to entry of any judgment or enter into any settlement of the Third-Party Claim without the consent of the Indemnitee if the effect thereof is (i) to permit any injunction, declaratory judgment, other order or
other non-monetary relief to be entered, directly or indirectly, against any Indemnitee or (ii) to ascribe any fault on any Indemnitee in connection with such defense. 

(f) Notwithstanding the foregoing, the Indemnifying Party shall not, without the prior written consent of the Indemnitee, settle or compromise
any Third-Party Claim or consent to the entry of any judgment which does not include as an unconditional term thereof the delivery by the claimant or plaintiff to the Indemnitee of a written release from all Liability in respect of such Third-Party
Claim. 
 Section 8.05. Survival of Indemnification Obligations. The indemnity and contribution agreements contained in this
Article VIII shall remain operative and in full force and effect indefinitely, regardless of (i) any investigation made by or on behalf of any Indemnitee and (ii) the knowledge by the Indemnitee of Liabilities for which it might be
entitled to indemnification or contribution hereunder. The rights and obligations of each of Parent and the Company and their respective Indemnitees under this Article VIII shall survive the merger or consolidation of any party, the sale or other
transfer by any party of any Assets or businesses or the assignment by it of any Liabilities, or the change of form or change of control of any party. 

  
 52 

 Section 8.06. Limitation of Liability. (a) The amount which any party (an
“Indemnifying Party”) is required to pay to any Person entitled to indemnification hereunder (an “Indemnitee”) will be reduced by any amounts actually recovered from any Person, including any Insurance Proceeds
actually recovered by or on behalf of the Indemnitee, in respect of the related Loss; provided that nothing contained in this Agreement or any Ancillary Agreement shall obligate any Indemnitee to seek, pursue, collect or otherwise make any
claim under any Policy (including any Shared Policy) other than in accordance with the terms of Article VII. If an Indemnitee receives a payment (an “Indemnity Payment”) required by this Agreement from an Indemnifying Party in
respect of any Loss and subsequently actually recovers any amount from any Person, including Insurance Proceeds, in respect of such related Loss, then the Indemnitee will pay to the Indemnifying Party an amount equal to the excess of the Indemnity
Payment received over the amount of the Indemnity Payment that would have been due if the Insurance Proceeds had been received, realized or recovered before the Indemnity Payment was made. 

(b) An insurer who would otherwise be obligated to pay any claim shall not be relieved of the responsibility with respect thereto or, solely
by virtue of the indemnification provisions hereof, have any subrogation rights with respect thereto, it being expressly understood and agreed that no insurer or any other third party shall be entitled to a “wind-fall” (i.e., a benefit
such insurer or other third party would not be entitled to receive in the absence of the indemnification provisions) by virtue of the indemnification provisions hereof. 

(c) Any Indemnity Payment made by the Company shall be increased as necessary so that after making all payments in respect to Taxes imposed on
or attributable to such Indemnity Payment, each Parent Indemnitee receives an amount equal to the sum it would have received had no such Taxes been imposed. Any Indemnity Payment made by Parent shall be increased as necessary so that after making
all payments in respect of Taxes imposed on or attributable to such Indemnity Payment, each Company Indemnitee receives an amount equal to the amount it would have received had no such Taxes been imposed. 

(d) If an indemnification claim is covered by the indemnification provisions of an Ancillary Agreement, the claim shall be made under the
Ancillary Agreement to the extent applicable and the provisions thereof shall govern such claim. In no event shall any party be entitled to double recovery from the indemnification provisions of this Agreement and any Ancillary Agreement. 

(e) NOTWITHSTANDING ANYTHING IN THIS AGREEMENT OR ANY ANCILLARY AGREEMENT TO THE CONTRARY, IN NO EVENT WILL EITHER PARTY OR ANY OF THE MEMBERS
OF ITS GROUP BE LIABLE FOR ANY SPECIAL, INDIRECT, INCIDENTAL, COLLATERAL, PUNITIVE OR CONSEQUENTIAL DAMAGES OR LOST PROFITS OR LOST BUSINESS OPPORTUNITIES SUFFERED BY AN INDEMNIFIED PARTY, HOWEVER CAUSED AND ON ANY THEORY OF LIABILITY, IN CONNECTION
WITH ANY DAMAGES ARISING HEREUNDER OR THEREUNDER; PROVIDED, HOWEVER, 

  
 53 

 
THAT TO THE EXTENT AN INDEMNIFIED PARTY IS REQUIRED TO PAY ANY SPECIAL, INDIRECT, INCIDENTAL, COLLATERAL, PUNITIVE OR CONSEQUENTIAL DAMAGES OR LOST PROFITS OR LOST BUSINESS OPPORTUNITIES TO A
PERSON WHO IS NOT A MEMBER OF EITHER GROUP IN CONNECTION WITH A THIRD PARTY CLAIM, SUCH DAMAGES WILL CONSTITUTE DIRECT DAMAGES AND NOT BE SUBJECT TO THE LIMITATION SET FORTH IN THIS SECTION 8.06(e). 

Section 8.07. Additional Matters. (a) Any claim on account of a Loss which does not result from a Third-Party Claim shall be
asserted by written notice given by the Indemnitee to the related Indemnifying Party. Such Indemnifying Party shall have a period of thirty (30) days after the receipt of such notice within which to respond thereto. If such Indemnifying Party
does not respond within such 30-day period, such Indemnifying Party shall be deemed to have refused to accept responsibility to make payment. If such Indemnifying Party does not respond within such 30-day period or rejects such claim in whole or in part, such Indemnitee shall be free to pursue such remedies as may be available to such Indemnitee as contemplated by this Agreement. 

(b) In the event of payment by or on behalf of any Indemnifying Party to any Indemnitee in connection with any Third-Party Claim, such
Indemnifying Party shall be subrogated to and shall stand in the place of such Indemnitee as to any events or circumstances in respect of which such Indemnitee may have any right, defense or claim relating to such Third-Party Claim against any
claimant or plaintiff asserting such Third -Party Claim or against any other Person. Such Indemnitee shall cooperate with such Indemnifying Party in a reasonable manner, and at the cost and expense of such Indemnifying Party, in prosecuting any
subrogated right, defense or claim. 
 (c) In the event of an Action in which the Indemnifying Party is not a named defendant, if either the
Indemnitee or Indemnifying Party shall so request, the parties shall endeavor to substitute the Indemnifying Party for the named defendant or otherwise hold the Indemnifying Party as party thereto, if at all practicable. If such substitution or
addition cannot be achieved for any reason or is not requested, the named defendant shall allow the Indemnifying Party to manage the Action as set forth in this Section, and the Indemnifying Party shall fully indemnify the named defendant against
all costs of defending the Action (including court costs, sanctions imposed by a court, attorneys’ fees, experts fees and all other external expenses), the costs of any judgment or settlement, and the cost of any interest or penalties relating
to any judgment or settlement with respect to such Third-Party Claim. 
 Section 8.08. Remedies Cumulative. The remedies
provided in this Article VIII shall be cumulative and, subject to the provisions of Article VIII, shall not preclude assertion by any Indemnitee of any other rights or the seeking of any and all other remedies against any Indemnifying Party. 

Section 8.09. Existing Litigation. The Existing Lithium Litigation Matters constitute
pre-existing Third-Party Claims, which were initiated prior to the Separation Date and for which proper notice has been given, and the Company hereby expressly 

  
 54 

 
assumes control of such Existing Lithium Litigation Matters pursuant to Section 8.04(b) as the Indemnifying Party. The parties further agree that the Existing Lithium Litigation Matters are
and shall remain and be treated as Third-Party Claims after the Separation Date. Notwithstanding anything herein to the contrary, (a) the Company agrees to indemnify each Parent Indemnitee for the Existing Lithium Litigation Matters pursuant to
the terms of indemnification set forth in Article VIII for any and all Losses incurred or suffered by any Parent Indemnified Party whether such Losses arise or accrue prior to, on or following the Separation Date, (b) the Company shall consult
with Parent on case management and strategy for such Existing Lithium Litigation Matters and will consider in good faith Parent’s input in respect thereof, (c) Parent shall be permitted to participate in such Existing Lithium Litigation
Matters and to retain separate counsel, in each case at Parent’s sole cost and expense and (d) the Company shall not settle or otherwise resolve any such Existing Lithium Litigation Matter without Parent’s prior written consent, which
shall not be unreasonably withheld or delayed, unless such settlement or resolution (i) contains no admission of any wrongdoing or culpability on behalf of the Company or Parent or any member of their respective Groups, (ii) contains a
full release of both Parent and the Company from all Liability in respect thereof and (iii) would not, in Parent’s reasonable discretion, be reasonably likely to either materially prejudice Parent or any member of its Group in respect of
any other ongoing, pending or threatened Action or result in or cause any increase in the cost of any insurance coverage maintained by the Parent Group in respect of such matters. Each of Parent and the Company agrees that the outside legal counsel
currently retained in connection with the Existing Lithium Litigation Matters may continue to represent the interests of both Parent and the Company, subject to Section 8.04(b). 

ARTICLE IX 

MISCELLANEOUS 

Section 9.01. Termination. (a) This Agreement may be terminated: 

(i) at any time by the mutual consent of Parent and the Company; 

(ii) at any time prior to the Separation Date by Parent in its sole and absolute discretion and without the consent of the
Company or any other Person; and 
 (iii) solely with respect to the obligations of the parties pursuant to Article IV
(including the obligation to pursue or effect the Distribution), by Parent, in its sole and absolute discretion and without the consent of the Company or any other Person, at any time prior to the Distribution. 

(b) In the event of any termination of this Agreement pursuant to Section 9.01(a)(i) or (a)(ii), no party to this Agreement (or any of
its directors, officers, members or managers) shall have any Liability or further obligation to any other party under this Agreement, except for any breach that occurs prior to such termination. In the event of any termination of this Agreement on
or after the Separation Date, only the provisions of Article IV will terminate and the other provisions of this Agreement and each Ancillary Agreement shall remain in full force and effect. 

  
 55 

 Section 9.02. Expenses. Parent and the Company shall each bear the costs and
expenses incurred or paid in connection with the Separation, the IPO, the Distribution and any other related transaction, as applicable, set forth below their respective names on Schedule 9.02. All other third-party fees, costs and expenses paid or
incurred in connection with the foregoing (except as specifically allocated pursuant to the terms of this Agreement or any Ancillary Agreement) will be paid by the party incurring such fees or expenses, whether or not the Separation Date or a
Distribution occurs, or as otherwise agreed by the parties in writing. 
 Section 9.03. Dispute Resolution. In the event of any
dispute or disagreement between any member of the Parent Group, on one hand, and any member of the Lithium Group, on the other hand, as to the interpretation of any provision of the Agreement or any Ancillary Agreement or the performance of any
obligations hereunder or thereunder (a “Dispute”), the Dispute, upon written request of Parent or the Company, as applicable, shall first be referred to senior managers of the parties for resolution. Following any written request
delivered pursuant to the foregoing, such senior managers of the parties shall promptly meet in a good-faith effort to resolve the Dispute. If such senior managers are not able to resolve the Dispute within sixty (60) days after such initial
meeting, the Dispute shall be further referred to an independent member of the Parent Board, on the one hand, and the Company Board, on the other hand, and in either case who is not also a member of the board of directors of the other party (the
“Independent Directors”). Following the referral of such Dispute in accordance with the foregoing, the Independent Directors shall promptly meet in a good-faith effort to resolve the Dispute. If the Independent Directors are unable
to resolve the Dispute within sixty (60) days after such initial meeting, each of Parent and the Company shall be free to exercise all rights and remedies available under law or equity with respect to such Dispute. 

Section 9.04. Governing Law; Exclusive Forum. (a) This Agreement shall be governed by and construed and interpreted in
accordance with the Laws of the State of Delaware, without regard to the conflict of laws principles thereof that would result in the application of any Law other than the Laws of the State of Delaware. 

(b) With respect to any Action seeking to enforce any provision of, or based on any matter arising out of or in connection with, this
Agreement or the Transactions, each party to this Agreement irrevocably (i) consents and submits to the exclusive jurisdiction of the Court of Chancery of the State of Delaware, New Castle County, or, if that court does not have jurisdiction, a
federal court sitting in Wilmington, Delaware, so long as one of such courts shall have subject matter jurisdiction over such Action; (ii) waives any objection which such party may have at any time to the laying of venue of any Action brought
in any such court, waives any claim that such Action has been brought in an inconvenient forum and further waives the right to object, with respect to such Action, that such court does not have jurisdiction over such party; and (iii) consents
to the service of process at the address set forth for notices in Section 9.11 herein; provided, however, that such manner of service of process shall not preclude the service of process in any other manner permitted under
applicable Law. 

  
 56 

 Section 9.05. Waiver of Jury Trial. SUBJECT TO SECTIONS 9.04(b) AND 9.06 HEREIN,
EACH OF THE PARTIES HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY COURT PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF AND PERMITTED UNDER OR IN CONNECTION WITH THIS
AGREEMENT OR THE TRANSACTIONS. EACH OF THE PARTIES HEREBY (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO
ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS
SECTION 9.05. 
 Section 9.06. Specific Performance. In the event of any actual or threatened default in, or breach of, any of
the terms, conditions and provisions of this Agreement, the party or parties who are or are to be thereby aggrieved shall have the right to specific performance and injunctive or other equitable relief of its rights under this Agreement, in addition
to any and all other rights and remedies at law or in equity, and all such rights and remedies shall be cumulative. 
 Section 9.07.
Counterparts; Entire Agreement; Conflicting Agreements. (a) This Agreement may be executed in one or more counterparts, all of which shall be considered one and the same agreement, and shall become effective when one or more counterparts
have been signed by each of the parties and delivered to the other party. Execution of this Agreement or any other documents pursuant to this Agreement by facsimile or other electronic copy of a signature shall be deemed to be, and shall have the
same effect as, execution by an original signature. 
 (b) This Agreement, the Ancillary Agreements, the exhibits, the schedules and the
appendices hereto and thereto contain the entire agreement between the parties with respect to the subject matter hereof, supersede all previous agreements, negotiations, discussions, writings, understandings, commitments and conversations with
respect to such subject matter, and there are no agreements or understandings between the parties with respect to such subject matter other than those set forth or referred to herein or therein. 

(c) In the event of any inconsistency between this Agreement and any Schedule hereto, the Schedule shall prevail. Subject to
Section 8.06(d), in the event and to the extent that there shall be a conflict between the provisions of this Agreement and the provisions of any Ancillary Agreement, the Ancillary Agreement shall control with respect to the subject matter
thereof, and this Agreement shall control with respect to all other matters; provided that in respect of any Local Separation Agreement, this 

  
 57 

 
Agreement shall control with respect to all matters, except in respect of the provisions set forth on Schedule 2.02(d). Without limiting the foregoing, except as explicitly provided in this
Agreement, this Agreement shall not govern Tax matters (including any administrative, procedural and related matters thereto) which shall be exclusively governed by the Tax Matters Agreement and the Employee Matters Agreement and to the extent of
any inconsistency between this Agreement and either of the Tax Matters Agreement or Employee Matters Agreement, the terms of the Tax Matters Agreement or Employee Matters Agreement, as the case may be, shall govern. If a Subsidiary of Parent and a
Subsidiary of the Company are parties to a Local Separation Agreement entered into prior to the Separation Date, then any transfer, assumption or payment (other than payments for products purchased, services provided or royalties accrued after the
Separation Date) between such entities pursuant to this Agreement or any Ancillary Agreement that is not otherwise transferred, assumed or assigned pursuant to an agreement between such entities shall be treated as occurring between such entities
pursuant to such Local Separation Agreement on the date of such Local Separation Agreement. 
 (d) Parent represents on behalf of itself and
each member of the Parent Group, and the Company represents on behalf of itself and each member of the Lithium Group, as follows: 

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

(ii) this Agreement and each Ancillary Agreement to which it is a party has been (or, in the case of any Ancillary Agreement,
will be on or prior to the Separation Date) duly executed and delivered by it and constitutes, or will constitute, a valid and binding agreement of it enforceable in accordance with the terms thereof. 

Section 9.08. No Construction Against Drafter. The parties acknowledge that this Agreement and all the terms and conditions
contained herein have been fully reviewed and negotiated by the parties. Having acknowledged the foregoing, the parties agree that any principle of construction or rule of law that provides that, in the event of any inconsistency or ambiguity, an
agreement shall be construed against the drafter of the agreement shall have no application to the terms and conditions of this Agreement. 

Section 9.09. Assignability. This Agreement (including the License) shall be binding upon and inure to the benefit of the parties
hereto and their respective successors and permitted assigns; provided, however, that no party hereto may assign its respective rights or delegate its respective obligations under this Agreement (including the License) without the
express prior written consent of the other party or parties hereto. Notwithstanding the foregoing, either party may assign this Agreement without consent in connection with, and nothing in this Section 9.09 shall be deemed to apply to,
(a) a 

  
 58 

 
merger transaction in which such party is not the surviving entity and the surviving entity acquires or assumes all or substantially all of such party’s assets, or (b) the sale of all
or substantially all of such party’s assets; provided, however, that the assignee expressly assumes in writing all of the obligations of the assigning party under this Agreement, and the assigning party provides written notice and
evidence of such assignment and assumption to the non-assigning party. No assignment permitted by this Section 9.09 shall release the assigning party from liability for the full performance of its
obligations under this Agreement. 
 Section 9.10. Third-Party Beneficiaries. Except for the indemnification rights under this
Agreement of any Parent Indemnitee or Company Indemnitee in their respective capacities as such, (a) the provisions of this Agreement are solely for the benefit of the parties and are not intended to confer upon any Person (including employees
of the parties hereto) except the parties any rights or remedies hereunder, and (b) there are no third-party beneficiaries of this Agreement and this Agreement shall not provide any third person (including employees of the parties hereto) with
any remedy, claim, liability, reimbursement, claim of action or other right in excess of those existing without reference to this Agreement. 

Section 9.11. Notices. All notices and other communications to be given to any party under this Agreement shall be sufficiently
given for all purposes hereunder if in writing and delivered by hand, courier or overnight delivery service, or five (5) days after being mailed by certified or registered mail, return receipt requested, with appropriate postage prepaid or
electronically mailed (with a response confirming receipt) and shall be directed to the address set forth below (or at such other address or e-mail address as such party shall designate by like notice): 

If to Parent, to: 
 FMC
Corporation 
 FMC Tower 
 2929
Walnut Street 
 Philadelphia, PA 19104 

Attention: Executive Vice President and General Counsel 

Email: General.Counsel@fmc.com 

If to the Company to: 
 Livent
Corporation 
 FMC Tower 
 2929
Walnut Street 
 Philadelphia, PA 19104 

Attention: Executive Vice President and General Counsel 

Email: LiventGeneral.Counsel@livent.com 

  
 59 

 Section 9.12. Severability. If any provision of this Agreement or the
application thereof to any Person or circumstance is determined by a court of competent jurisdiction to be invalid, void or unenforceable, the remaining provisions hereof or the application of such provision to Persons or circumstances or in
jurisdictions other than those as to which it has been held invalid or unenforceable shall remain in full force and effect and shall in no way be affected, impaired or invalidated thereby, so long as the economic or legal substance of the
transactions contemplated hereby is not affected in any manner adverse to any party. Upon such determination, the parties shall negotiate in good faith in an effort to agree upon such a suitable and equitable provision to effect the original intent
of the parties to the fullest extent possible. 
 Section 9.13. Headings. The article, section and paragraph headings contained
in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. 

Section 9.14. Survival of Covenants. The covenants contained in this Agreement, indemnification obligations and liability for the
breach of any obligations contained herein, shall survive the Separation Date and the consummation of the Transactions contemplated by this Agreement and shall remain in full force and effect indefinitely. 

Section 9.15. Waivers of Default. Waiver by any party of any default by the other party of any provision of this Agreement shall
not be deemed a waiver by the waiving party of any subsequent or other default, nor shall it prejudice the rights of the other party. 

Section 9.16. Amendments. No provisions of this Agreement shall be deemed waived, amended, supplemented or modified by any party,
unless such waiver, amendment, supplement or modification is in writing and signed by the authorized representative of the party against whom it is sought to enforce such waiver, amendment, supplement or modification. 

Section 9.17. Interpretation. Words in the singular shall be held to include the plural and vice versa and words of one gender
shall be held to include the other genders as the context requires. The terms “hereof,” “herein” and “herewith” and words of similar import shall, unless otherwise stated, be construed to refer to this Agreement as a
whole (including all of the schedules, exhibits and appendices hereto) and not to any particular provision of this Agreement. Article, Section, Exhibit, Schedule and Appendix references are to the Articles, Sections, Exhibits, Schedules and
Appendices to this Agreement unless otherwise specified. The word “including” and words of similar import when used in this Agreement shall mean “including, without limitation,” unless otherwise specified. 

  
 60 

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

			
	FMC CORPORATION
		
	By:	 	 
	 	 	Name:
	 	 	Title:
	
	LIVENT CORPORATION
		
	By:	 	 
	 	 	Name:
	 	 	Title:EX-10.2

 Exhibit 10.2 

FORM OF TRANSITION SERVICES 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

SERVICES
	  

 

			
	 Section 2.01.
	 	Services	  	 	3	 
	 Section 2.02.
	 	Service Migration	  	 	4	 
	 Section 2.03.
	 	Standard of Performance; Third-Party Consents; Service Enhancements	  	 	4	 
	 Section 2.04.
	 	Term; Discontinuation or Extension of Services; Termination; Effect of Termination	  	 	5	 
	 Section 2.05.
	 	Service Levels	  	 	7	 
	 Section 2.06.
	 	Changes	  	 	8	 
	 Section 2.07.
	 	Maintenance	  	 	8	 
	 Section 2.08.
	 	Local Agreements	  	 	8	 
	 Section 2.09.
	 	Access to Systems	  	 	9	 
	 Section 2.10.
	 	Books and Records	  	 	9	 
	 Section 2.11.
	 	Independent Contractor	  	 	9	 
	
	 ARTICLE III

SERVICE FEES
	  

 

			
	 Section 3.01.
	 	Service Fees	  	 	10	 
	 Section 3.02.
	 	Payment	  	 	10	 
	 Section 3.03.
	 	Finance Charge	  	 	10	 
	 Section 3.04.
	 	Taxes	  	 	10	 
	 Section 3.05.
	 	No Right to Setoff	  	 	11	 
	
	 ARTICLE IV

INDEMNITY
	  

 

			
	 Section 4.01.
	 	Suitability of the Services	  	 	11	 
	 Section 4.02.
	 	No Liability; Indemnity	  	 	11	 
	 Section 4.03.
	 	Limitation of Liability	  	 	12	 
	 Section 4.04.
	 	Consequential Damages	  	 	12	 
	 Section 4.05.
	 	Exclusive Remedy	  	 	12	 

  
 1 

							
	
	 ARTICLE V

INTELLECTUAL PROPERTY
	  

 

			
	 Section 5.01.
	 	Title to Intellectual Property	  	 	12	 
	
	 ARTICLE VI

SHARED FACILITIES
	  

 

			
	 Section 6.01.
	 	Shared Facilities	  	 	13	 
	 Section 6.02.
	 	Use of Shared Facilities	  	 	13	 
	 Section 6.03.
	 	Expiration of the Shared Lease Term	  	 	13	 
	 Section 6.04.
	 	Indemnification	  	 	13	 
	
	 ARTICLE VII

MISCELLANEOUS
	  

 

			
	 Section 7.01.
	 	Confidentiality	  	 	14	 
	 Section 7.02.
	 	Services Coordinators	  	 	15	 
	 Section 7.03.
	 	Joint Essential Systems and Services Working Group	  	 	15	 
	 Section 7.04.
	 	Dispute Resolution	  	 	15	 
	 Section 7.05.
	 	Other Property	  	 	15	 
	 Section 7.06.
	 	Notices	  	 	16	 
	 Section 7.07.
	 	Interpretation; Incorporation of Terms by Reference	  	 	16	 

  

  
 2 

 FORM OF TRANSITION SERVICES AGREEMENT 

THIS TRANSITION 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, on or about the date hereof, the parties have entered into that certain Separation and Distribution Agreement (as amended, modified
or supplemented from time to time, the “Separation and Distribution Agreement”), pursuant to which Parent has transferred all of the assets and liabilities of the Lithium Business to the Company; 

WHEREAS, pursuant to the Separation and Distribution Agreement and in connection with the transactions contemplated thereby, the Company and
Parent have agreed to provide, or to cause one or more of the members of their respective Groups to provide, to each other, for a limited period of time, certain transitional services pursuant to the terms and conditions of this Agreement in order
to facilitate the orderly transition of the Lithium Business from Parent and the members of the Parent Group to the Company and the members of the Lithium Group; and 

WHEREAS, the Separation and Distribution Agreement requires the execution and delivery of this Agreement by Parent and the Company on or prior
to the Separation Date. 
 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: 

“Additional Services” has the meaning set forth in Section 2.01(b). 

“Agreement” means this Transition Services Agreement, including all of the Schedules and exhibits hereto. 

“Change” has the meaning set forth in Section 2.06. 

  
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 “Change Request” has the meaning set forth in Section 2.06. 

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

“Company ESS Designees” has the meaning set forth in Section 7.03. 

“Dispute” has the meaning set forth in Section 7.04. 

“ESS Committee” has the meaning set forth in Section 7.03. 

“ESS Designees” has the meaning set forth in Section 7.03. 

“Improvements” has the meaning set forth in Section 5.01 

“Invoice” has the meaning set forth in Section 3.02. 

“IP” has the meaning set forth in Section 5.01. 

“Other Party” has the meaning set forth in Section 2.04. 

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

“Parent ESS Designees” has the meaning set forth in Section 7.03. 

“Philadelphia Sublease” has the meaning set forth in Section 6.01. 

“Provider” has the meaning set forth in Section 2.01(a). 

“Provider Indemnitee” has the meaning set forth in Section 4.02(b). 

“Recipient” has the meaning set forth in Section 2.01(a). 

“Recipient Indemnitee” has the meaning set forth in Section 4.02(c). 

“Residual Costs” means all documented internal or third-party costs, fees and expenses of Provider or any member of its
Group, including migration, transition or service exit costs, actually incurred by Provider (i) that arise as a direct result of the early termination of any applicable Service Period in accordance with Section 2.04 or a reduction in
Services or any applicable Service Levels by Recipient in accordance with Section 2.05, (ii) that do not constitute part of the Service Fees or expenses of an applicable Service as set forth in the Schedules, (iii) that Provider and the
applicable members of its Group cannot reasonably eliminate, obtain a refund for or obtain a reduction for as a result of the early termination of any applicable Service Period in accordance with Section 2.04 or the reduction in any Service or
any applicable Service Levels in accordance with Section 2.05, and (iv) to the extent the resources obtained as a result of such costs, fees and expenses cannot reasonably be allocated for equal or greater consideration to the provision of
other Services for Recipient or any member of its Group or, at the Provider’s election acting in good faith, for the business of Provider or the members of its Group. 

  
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 “Responsible Officers” has the meaning set forth in Section 7.04. 

“Schedules” has the meaning set forth in Section 2.01(a). 

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

“Service Fees” has the meaning set forth in Section 3.01. 

“Service Levels” has the meaning set forth in Section 2.05. 

“Service Period” has the meaning set forth in Section 2.01(a). 

“Services” has the meaning set forth in Section 2.01(a). 

“Services Coordinator” has the meaning set forth in Section 7.02. 

“Shared Facility” has the meaning set forth in Section 6.01. 

“Shared Facility Lease” has the meaning set forth in Section 6.04(a). 

“Shared Lease Term” has the meaning set forth in Section 6.02. 

“Systems” has the meaning set forth in Section 2.09(b). 

“Taxes” has the meaning set forth in Section 3.04. 

“Term” has the meaning set forth in Section 2.04(a). 

“Terminating Party” has the meaning set forth in Section 2.04(c). 

“Termination Notice” has the meaning set forth in Section 2.04(b). 

“Third-Party Service Provider” has the meaning set forth in Section 2.01(a). 

ARTICLE II 

SERVICES 

Section 2.01.    Services. (a) Subject to Section 2.04, beginning on the Separation Date and for the
applicable durations specified on Schedule 1 under the heading “Service Period” (each such period, a “Service Period”), Parent shall provide, or cause to be provided, to the Company and/or the members of the Lithium Group
the services set forth in Schedule 1 to this Agreement and the Company shall provide, or cause to be provided, to Parent and/or the members of the Parent Group, the services set forth in Schedule 2 to this Agreement (Schedules 1 and 2, the
“Schedules”). Subject to Section 2.04(b), upon the expiration of each applicable Service Period, the obligation of Provider with respect to the provision of the applicable Service shall automatically and immediately terminate
(but, for the avoidance of doubt, the foregoing shall not waive or release Provider or any 

  
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member of its Group from any liability or obligation that accrued prior to the end of any applicable Service Period). For the purposes of this Agreement, “Services” shall mean
the services set forth on the Schedule to be provided, or caused to be provided, by Provider to Recipient pursuant to this Agreement; “Provider” shall mean the party, or member of such party’s Group, providing, or causing to be
provided, Services to the other party or the members of such party’s Group under this Agreement and “Recipient” shall mean the party, or member of such party’s Group, receiving, directly or indirectly, Services from the
other party or the members of such party’s Group under this Agreement. Recipient acknowledges that Provider may provide the applicable Services directly, through any of its Affiliates or through one or more third parties engaged by Provider to
provide Services in accordance with the terms of this Agreement (each such third party, a “Third-Party Service Provider”). 

(b)    After the date hereof, the parties may by mutual written agreement identify additional services that Provider will
provide, or cause to be provided, to Recipient in accordance with the terms of this Agreement (the “Additional Services”). If the parties mutually agree to add any Additional Services pursuant to this Section 2.01(b), the
parties will amend the Schedules to include each such Additional Service and all applicable terms in respect of such Additional Service in accordance with the terms of this Agreement. 

(c)    Recipient shall, at the request of Provider in consultation with Recipient from time to time and without further
consideration, execute and deliver such powers of attorney, acknowledgments, assurances, consents and other documents as may be reasonably necessary for Provider to satisfy and perform its obligations hereunder. 

Section 2.02.    Service Migration. Each party to this Agreement acknowledges and agrees that the Services are
being provided on a transition basis in order to allow the applicable Recipient a period of time to obtain similar services for itself and the members of its Group, and that no party hereto is a commercial provider of any such Services. Each party
hereto agrees to use its commercially reasonable efforts to end its use of each and every Service as soon as reasonably practicable, and each applicable Provider shall assist the applicable Recipient in connection with the transition from the
performance of Services by Provider to the performance of such Services by Recipient, which may include assistance with the transfer of records, migration of historical data, the transition of any such Service from the hardware, software, network
and telecommunications equipment and internet-related information technology infrastructure. In no event shall the applicable Provider be responsible for providing any services in connection with, or bearing any costs of, any such migration, except
in connection with the previous sentence or as set forth on any Schedule to this Agreement. 

Section 2.03.    Standard of Performance; Third-Party Consents; Service Enhancements. (a) Subject to the
terms and conditions of this Agreement, Provider shall use commercially reasonable efforts to provide, or cause to be provided, the Services to Recipient at a quality level and in the same manner as such Service has been provided to Recipient and
the members of its Group immediately prior to the Separation Date or, if any such Service was not provided during such period, Provider will provide such 

  
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Services in a professional and workmanlike manner, but in each case, exercising at least the same care and skill as Provider exercises in performing similar services for itself or for the members
of its Group; provided that nothing in this Agreement shall require Provider to perform, or caused to be performed, any Service or to take, or refrain from taking, any action, if the provision of such Service or the taking, or refraining from
taking, of such action by Provider would be reasonably likely to result in any breach or violation of any applicable Law or any license, lease, Contract or other agreement with any third party (including any software or information technology
license or service agreement); provided, however that Provider shall use its commercially reasonable efforts to obtain the consent of any such third party (at Recipient’s sole cost and expense) required for the provision of such
Services to the Recipient or the members of its Group by the Provider; provided, further that in the event such consent cannot be obtained, the parties shall work together in good faith and use their respective commercially reasonable
efforts to (in each case, at Recipient’s sole cost and expense) arrange for alternative methods of delivery of such Service. 

(b)    EACH PARTY ACKNOWLEDGES AND AGREES THAT, EXCEPT AS OTHERWISE PROVIDED IN THIS AGREEMENT, ALL SERVICES ARE PROVIDED
ON AN “AS IS, WHERE IS” BASIS AND “WITH ALL FAULTS” AND THAT PROVIDER MAKES NO REPRESENTATIONS OR WARRANTIES, WHETHER EXPRESS, IMPLIED OR STATUTORY, WITH RESPECT TO THE SERVICES TO BE PROVIDED HEREUNDER, INCLUDING, BUT NOT
LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NON-INFRINGEMENT WHICH ARE SPECIFICALLY DISCLAIMED. 

(c)    It is understood and agreed that Provider may from time to time modify, change or enhance the manner, nature,
quality and/or standard of care of any Service provided to Recipient or the members of its Group to the extent Provider is making a similar change in the performance of services similar to such Services for Provider or the members of its Group or to
the extent that such change is in connection with the relocation of Provider’s employees; provided that any such modification, change or enhancement will not reasonably be expected to have a material adverse effect on the provision of
such Service in accordance with the standards set forth in Section 2.03(a). 
 Section 2.04.    Term;
Discontinuation or Extension of Services; Termination; Effect of Termination. (a) The term of this Agreement (the “Term”) will commence on the Separation Date and end on the earliest to occur of: (i) the last date on
which a Provider is obligated to provide any Service to a Recipient pursuant to this Agreement and the Schedules, and (ii) the mutual written agreement of the parties to terminate this Agreement (and all Services hereunder) in its entirety.

 (b)    Subject to this Section 2.04(b), any Service may be discontinued or extended upon the mutual written
consent of the parties, and, in such case, the applicable Schedule shall be amended in writing as soon as practicable to either delete such Service and terminate the applicable Service Period as of such date (and this Agreement shall be of no
further force and effect for such Service, except as to obligations accrued prior to 

  
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the date of discontinuation of such Service), or to extend the Service Period for the duration of such extension, as applicable. Recipient may discontinue any Service by providing advance written
notice to Provider (a “Termination Notice”) either 90 days in advance of the proposed date of termination or in accordance with the termination procedures set forth with respect to such Service on the Schedules under the column
entitled “Termination Notice Period”, and in either case subject to Provider’s written consent (which consent shall not be unreasonably withheld) with respect to such termination; provided that in the case in which an
aggregate cost is set forth on any applicable Schedule for a group of Services, no individual or line item Service within such group may be terminated without the termination of all of the other Services within such group; provided,
further that Recipient shall be responsible for any Residual Costs incurred by reason of such termination. Upon any discontinuation in accordance with this Section 2.04(b), (i) all accrued and unpaid Service Fees or other amounts payable in
respect of the applicable Services to be discontinued shall be due and payable no later than sixty (60) days following the date of such discontinuation and shall be paid by Recipient to Provider in accordance with Article III and
(ii) Recipient’s obligation to pay for such discontinued Service beyond the specified discontinuation date will terminate (but, for the avoidance of doubt, the foregoing shall not waive or release the Recipient or any member of its Group
from any Liability that accrued prior to any applicable discontinuation). 
 (c)    Either party (the
“Terminating Party”) may terminate this Agreement with immediate effect by notice in writing to the other party (the “Other Party”) on or at any time after the occurrence of any of the following events: 

(i)    the Other Party is in default of any of its material obligations (for the avoidance of doubt, all of
a Recipient’s obligations under Section 3.01 of this Agreement shall be deemed material obligations) under this Agreement and (if the breach is capable of being cured) has failed to cure the breach within thirty (30) calendar days
after receipt of notice in writing from the Terminating Party giving particulars of the breach and requiring the Other Party to cure such breach (provided that the cure period for any breach of Recipient’s obligations under
Section 3.01 of this Agreement shall be thirty (30) calendar days after the occurrence of such breach); 

(ii)    the Other Party commences a voluntary case or other proceeding seeking bankruptcy protection,
liquidation, reorganization or similar relief with respect to itself or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect, or seeks the appointment of a trustee, receiver, liquidator, custodian or other
similar official of it or any substantial part of its property, or consents to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other proceeding commenced against it, or makes a general
assignment for the benefit of creditors, or fails generally to pay its debts as they become due, or takes any corporate action to authorize any of the foregoing; or 

  
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 (iii)    an involuntary case or other proceeding is
commenced against the Other Party seeking bankruptcy protection, liquidation, reorganization or other relief with respect to it or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect, or seeks the appointment
of a trustee, receiver, liquidator, custodian or other similar official of it or any substantial part of its property, and such involuntary case or other proceeding remains undismissed and unstayed for a period of sixty (60) calendar days or an
order for relief shall be entered against the Other Party. 
 (d)    In the event of termination of this Agreement in its
entirety pursuant to this Section 2.04, or upon the expiration of the Term, this Agreement shall cease to have further force or effect, and neither Party shall have any liability to the other Party with respect to this Agreement;
provided that: 
 (i)    termination or expiration of this Agreement for any reason shall not
release a party from any liability or obligation that already has accrued as of the effective date of such termination or expiration, as applicable, and shall not constitute a waiver or release of, or otherwise be deemed to adversely affect, any
rights, remedies or claims which a Party may have hereunder at Law, in equity or otherwise or which may arise out of or in connection with such termination or expiration; 

(ii)    all accrued and unpaid Service Fees or other amounts payable pursuant to this Agreement shall be
due and payable as soon as practicable upon, but in no event later than 60 days following, the termination of this Agreement and shall be paid by Recipient to Provider in accordance with Article III; and 

(iii)    this Section 2.04, Section 2.10 (Books and Records), Article IV (Indemnity) and Article
VII (Miscellaneous) shall survive any termination or expiration of this Agreement and shall remain in full force and effect. 

Section 2.05.    Service Levels. Subject to any applicable service levels set out in the Schedules (the
“Service Levels”), Provider shall perform each Service in all material respects in accordance with past practice; provided that Provider will not be obligated to perform any Service in a volume or quantity that exceeds in any
material respect the level of use reasonably required to support Recipient’s business in accordance with historical volumes (on an annualized basis) performed for Recipient’s business during calendar year 2018 to date (taking into account
the monthly and seasonal changes during the last twelve-month period prior to the Separation Date). In no event shall Recipient be entitled to any increase in the level of its use of any of the Services without providing to Provider at least sixty
(60) days’ prior written notice for such request and obtaining the prior written consent of Provider, which consent shall not be unreasonably withheld. Without limiting Section 2.04 in any respect, Recipient may not decrease, without
Provider’s prior written consent, the level of its use of any of the Services if such a decrease would have a material and adverse effect on Provider’s ability to provide the Services or would materially increase the cost or expense to
Provider to provide such Service; provided, however that Recipient must provide at least three (3) months prior written notice to 

  
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Provider for any decrease in the level of Services that would reasonably be expected to result in reduction of force, require termination of any third-party agreements, or may require changes to
Provider’s IT systems operations (e.g., related to Recipient’s IT migration efforts); provided, further that, subject to payment for Residual Costs, the applicable Service Fees shall be decreased in Provider’s reasonable
discretion by the amount that Provider’s costs associated with providing such Services have reduced as a result of such reduction of Services by Recipient in the event that such cost reduction in the aggregate for all such related requests is
at least ten (10%) percent of the applicable Service Fee. Such reduced Service Fees shall take effect following the later of (i) the last day of the month that is three (3) months following the receipt of such reduction of Services notice
or (ii) the last day of the month in which Provider realizes such reduction of costs. 

Section 2.06.    Changes. Subject to Section 2.04, no Recipient shall be entitled to any change,
alteration, amendment or other modification (a “Change”) without the prior written consent of Provider, which consent (in the case of Changes that are not material or that are required by Law) shall not be unreasonably withheld. In
the event that a Recipient desires a Change, Recipient will deliver a change request (a “Change Request”) to Provider. The timing for Provider’s approval or rejection of such Change Requests shall be within a commercially
reasonable time period; provided, however, in respect of any Change Requests that are required by Law then such period shall be within a period that is sufficient to meet with any deadlines and requirements imposed by Law if Recipient
has given Provider reasonable advance notice of such deadlines and requirements. If a Change Request is approved, the applicable Recipient shall be responsible for all changes to associated Service Fees and reasonable and documented expenses
associated with such approved Change in a manner as shall be mutually agreeable to Provider and Recipient. 

Section 2.07.    Maintenance. Provider may temporarily shut down for maintenance purposes the facilities
providing any Service to Recipient or any member of its Group whenever such action is necessary in Provider’s reasonable discretion; provided that Provider will use reasonable best efforts to (x) provide Recipient with reasonable
advance written notice of any scheduled maintenance and (y) schedule any such maintenance in consultation with Recipient so as not to unreasonably interfere in Recipient’s business. Provider shall use its reasonable best efforts to
minimize the length of time any facilities providing Services remain under maintenance. During any period of shutdown of any of the facilities providing Services, Provider shall furnish to Recipient the same level and priority of Services that
Provider’s own business units receive during such shutdown. 
 Section 2.08.    Local Agreements. With
respect to Services delivered in a particular country and to the extent required by applicable Law, the parties will cause the members of their respective Group in such country to enter into one or more local services agreements for the purpose of
implementing this Agreement in that country. 

  
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 Section 2.09.    Access to Systems. 

(a)    Recipient shall (i) make available on a timely basis to Provider and the members of its Group and applicable
Third-Party Service Providers all information and materials reasonably requested by them to enable them to provide the applicable Services to Recipient and (ii) provide to Provider and the members of its Group and applicable Third-Party Service
Providers reasonable access to its premises, systems, assets, facilities and personnel during regular business hours and at such other times as reasonably requested to the extent necessary for Provider and the members of its Group and applicable
Third-Party Service Providers (as applicable) to provide the applicable Services to Recipient. 
 (b)    If as a result
of the provision of the Services, employees of Provider or Recipient or any member of their respective Group or any applicable Third-Party Service Provider thereof receive access to the computer systems or software (collectively, the
“Systems”) of the other Group, such persons shall access such Systems only for the limited purpose of supporting the provision of the Services and shall abide by any and all access rules and restrictions applicable to such Systems,
including with respect to security and privacy, that are provided to such person in advance of such access or from time to time thereafter, and such persons shall not circumvent or attempt to circumvent any security, privacy or audit measures of
Provider, Recipient or any member of their respective Group, as applicable. The parties will reasonably cooperate to ensure that only those persons who are specifically authorized to have access to the Systems of Provider, Recipient or any of the
members of their respective Group gain such access, and to prevent unauthorized access, use, destruction, alteration or loss of information contained therein. 

Section 2.10.    Books and Records. Each party agrees to maintain financial, accounting, and functional
(including metering) records, data and other supporting documentation consistent with its practices in the ordinary course of business to reflect the accuracy of invoiced quantities and amounts for the Services provided under this Agreement. Each
Party shall retain such data and records in accordance with its respective control policies in the ordinary course of business existing from time to time and shall afford reasonable access to the other party during normal business hours to such data
and records. 
 Section 2.11.    Independent Contractor. In providing Services hereunder, Provider and its
Affiliates and any Third-Party Service Providers acting on behalf of Provider shall act solely as independent contractors. Nothing herein shall constitute or be construed to be or create in any way or for any purpose a partnership, joint venture or
principal-agent relationship between the parties. No party shall have any power to control the activities and/or operations of the other party. No party shall have any power or authority to bind or commit any other party. In providing the Services
hereunder, Provider’s employees and agents shall not be considered employees or agents of Recipient, nor shall Provider’s employees or agents be eligible or entitled to any compensation, benefits, or perquisites (including severance) given
or extended to Recipient’s employees. For the avoidance of doubt, Recipient shall be solely responsible for the operation of its businesses and the decisions and actions taken in connection therewith, and nothing contained herein shall impose
any liability or responsibility on Provider with respect thereto. 

  
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 ARTICLE III 

SERVICE FEES 

Section 3.01.    Service Fees. During the Term, the Services set forth on the Schedules will be provided to
Recipient and the members of its Group during the applicable Service Period and the applicable Provider shall charge the applicable Recipient the service fees for each Service as set forth in the applicable Schedule (the “Service
Fees”). Without limiting the foregoing, the applicable Recipient shall reimburse the applicable Provider for (i) any reasonable and documented expenses of Provider, including any expenditures of any Third-Party Service Provider
invoiced to Provider, in connection with the Services, (ii) any costs paid or payable associated with securing the consent of any third party that is required in connection with the provision of the Services, and (iii) any Residual Costs
that arise from the early termination of any Service in accordance with Section 2.04 or any reduction in Services or Service Levels by Recipient in accordance with Section 2.05. 

Section 3.02.    Payment. Provider, or the applicable member of its Group, shall invoice Recipient, or the
applicable member of its Group, each month for Services delivered and expenses incurred during the preceding month (each, an “Invoice”). Recipient shall remit payment for amounts specified in an applicable Invoice within sixty
(60) calendar days after the date of the applicable Invoice. 
 Section 3.03.    Finance Charge. If
Recipient fails to make any payment on the date such payment was due to Provider in accordance with Section 3.02, a finance charge of one and a half percent (1.5%) per month or, if less, the maximum rate allowed by applicable Law, payable from
the date prior to which such payment was required to be made in accordance with Section 3.02 to the date such payment is received by Provider, unless the failure to make such payment is a result of the failure of Provider to provide any
applicable Service in respect of such payment. In addition, Recipient shall indemnify Provider for its costs, including reasonable attorneys’ fees and disbursements, incurred to collect any unpaid amount. 

Section 3.04.    Taxes.    Except as expressly noted therein, the Service Fees set forth
in the Schedules with respect to each Service do not include any sales, use, value added, goods and services or similar taxes, duties, levies and similar charges (collectively, and together with any interest, penalties or additions to tax imposed
with respect thereto, “Taxes”). In addition to the amounts required to be paid pursuant to this Agreement, Recipient shall pay and be responsible for any Taxes imposed with respect to the fees or the provision of Services to
Recipient hereunder, unless the applicable Law provides that the relevant Taxes are levied directly on Provider; in such case Provider will pay the relevant Taxes directly to the Tax Authority in accordance with applicable Law, and Recipient shall
reimburse Provider for such Taxes. All payments by Recipient to Provider for Services will be increased as necessary so that after Recipient has withheld any applicable Taxes, the amount received by Provider is equal to the amount it would have
received had no such withholding been required. The parties will cooperate with each other to minimize any of these Taxes to the extent reasonable. 

  
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 Section 3.05.    No Right to Setoff. There shall be no right
of setoff or counterclaim with respect to any claim, debt or obligation, against payments to Provider under this Agreement. 
 ARTICLE IV

 INDEMNITY 

Section 4.01.    Suitability of the Services. Determination of the suitability of any Services is the sole
responsibility of Recipient, and neither Provider nor any member of its Group will have any responsibility for such determination. Recipient assumes all risk and liability for loss, damage or injury to persons or property arising out of such
Services, however used, and Provider shall in no event be liable to Recipient or those claiming by, through or under Recipient for any Losses suffered as a result of any Services provided hereunder, regardless of whether due or alleged to be due to
the negligence of Provider, except to the extent caused by Provider’s gross negligence, willful misconduct or willful breach. 

Section 4.02.    No Liability; Indemnity. (a) Subject to Section 4.02(c), Provider and the members
of its Group shall have no Liability with respect to the furnishing of the Services or arising from or related to this Agreement except to the extent resulting from Provider’s (or a member of its Group’s) gross negligence, willful
misconduct or willful breach. 
 (b)    Recipient agrees to indemnify and hold Provider, the members of the Parent Group
and their respective employees, agents, officers and directors (each, a “Provider Indemnitee”) harmless from and against any and all Losses of any Provider Indemnitee arising out of, in connection with or by reason of the provision
of any Services to Recipient or the members of its Group pursuant to this Agreement or any breach of this Agreement by Recipient or any member of its Group, in each case regardless of whether due or alleged to be due to the negligence of Provider or
any member of its Group or any Third-Party Service Provider, except to the extent such Losses are caused by gross negligence, willful misconduct or willful breach of Provider or any member of its Group. 

(c)    Provider agrees to indemnify and hold Recipient, the members of its Group and all of their respective employees,
agents, officers and directors (each, a “Recipient Indemnitee”) harmless from and against any Losses arising out of, in connection with or by reason of the provision of the Services or any breach of this Agreement solely to the
extent that it is determined by a court of competent jurisdiction in a final and non-appealable judgment or order that Provider’s (or the applicable member of its Group’s) actions in respect of such
Losses constitute gross negligence, willful misconduct or willful breach of this Agreement. 

  
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 Section 4.03.    Limitation of Liability. IN NO EVENT SHALL
PROVIDER (OR ANY MEMBER OF ITS GROUP) BE LIABLE UNDER THIS ARTICLE IV OR OTHERWISE WITH RESPECT TO THIS AGREEMENT OR ANY BREACH HEREOF FOR ANY AMOUNT IN EXCESS OF THE AGGREGATE SERVICE FEES PROVIDER RECEIVED PURSUANT TO THIS AGREEMENT FOR THE
SERVICE THAT IS THE SUBJECT OF THE DISPUTE. 
 Section 4.04.    Consequential Damages. IN NO EVENT SHALL
EITHER PARTY BE LIABLE TO THE OTHER PARTY FOR ANY SPECIAL, INDIRECT, INCIDENTAL, CONSEQUENTIAL, EXEMPLARY OR PUNITIVE DAMAGES WHATSOEVER WHICH IN ANY WAY ARISE OUT OF, RELATE TO, OR ARE A CONSEQUENCE OF, ITS PERFORMANCE OR NONPERFORMANCE UNDER THIS
AGREEMENT OR ANY OF THE SERVICES, WHETHER SUCH ACTION IS BASED ON WARRANTY, CONTRACT, TORT (INCLUDING NEGLIGENCE OR STRICT LIABILITY) OR OTHERWISE, EVEN IF AN AUTHORIZED REPRESENTATIVE OF SUCH PARTY IS ADVISED OF THE POSSIBILITY OR LIKELIHOOD OF THE
SAME. SPECIAL DAMAGES UNDER THIS AGREEMENT INCLUDE, BUT ARE NOT LIMITED TO, LOSS OF PROFITS, BUSINESS INTERRUPTIONS AND CLAIMS OF CUSTOMERS. 

Section 4.05.    Exclusive Remedy. The provisions of this Article IV shall be the sole and exclusive remedies
of the Provider Indemnitees and the Recipient Indemnitees, as applicable, for any claim, Loss, damage, expense or Liability, whether arising from statute, principle of strict liability, tort, contract or any other theory of liability at law or in
equity under this Agreement. 
 ARTICLE V 

INTELLECTUAL PROPERTY 

Section 5.01.    Title to Intellectual Property. To the extent Provider uses any intellectual property,
including know-how, proprietary processes, software, technology and trade secrets, owned or controlled by Provider after giving effect to the transactions contemplated by the Separation and Distribution
Agreement (collectively, “IP”) in providing Services, such IP and any derivative works or modifications thereof or improvements thereto (collectively, “Improvements”) shall be and will remain, as between the
parties, the sole and exclusive property of Provider. As between the parties, to the extent ownership of such IP and Improvements does not vest in Provider, Recipient does hereby assign to Provider all of its right, title and interest in such IP and
Improvements. Recipient shall take all further actions reasonably requested by Provider to confirm Provider’s ownership and interest in and to such IP and Improvements. Recipient acknowledges and agrees that it will not acquire any right, title
or interest in any IP or Improvements solely by reason of Provider’s provision of Services and Provider hereby reserves all rights with respect thereto. 

  
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 ARTICLE VI 

SHARED FACILITIES 

Section 6.01.    Shared Facilities. On or prior to the date hereof and in connection with the transactions
contemplated by the Separation and Distribution Agreement, the parties have agreed that Parent shall make available space at certain facilities mutually agreed upon by the parties and described in the Schedules (each a “Shared
Facility”). For the avoidance of doubt, with respect to the premises demised by that certain sublease for a portion of the facility located at FMC Tower, 2929 Walnut Street, Philadelphia, Pennsylvania 19104 (the “Philadelphia
Sublease”), the terms and conditions of the Philadelphia Sublease shall control and such premises shall not be a Shared Facility. 

Section 6.02.    Use of Shared Facilities. For the period commencing on the Separation Date until the
applicable date (the “Shared Lease Term”) and on the terms and conditions set forth this Agreement, and subject to the terms thereof, each of the Company or Parent, or the respective members of its Group, shall have the right to use
and occupy that portion of the Shared Facilities that it uses and occupies in connection with the Lithium Business or the Parent Businesses, respectively, as of the Separation Date in substantially the same manner and on the same terms and
conditions that it currently uses and occupies such space. In the event that Recipient terminates its obligations with respect to any Shared Facility and vacates any such Shared Facility in accordance with Section 2.04, Recipient shall only be
responsible for its pro rata portion of the Rental Costs relating to such Shared Facility through the date of such termination; provided that Recipient shall be responsible for any Residual Costs incurred by reason of such termination. 

Section 6.03.    Expiration of the Shared Lease Term. Recipient shall vacate its portion of the Shared
Facilities (i) on or prior to the expiration set forth in the Schedules or earlier termination as provided in Section 6.02 (provided with respect to the Shared Facility located in Philadelphia, the expiration date set forth in the
Schedules shall be the earlier of such date and the date of termination of the Philadelphia Sublease), (ii) using commercially reasonable efforts to minimize business interruptions for all parties to the extent reasonably possible and
(iii) leaving its portion of such Shared Facility in broom clean condition. 

Section 6.04.    Indemnification. (a) Not in limitation of any other provision of this Agreement,
Recipient shall indemnify and hold harmless the Provider Indemnitees from and against all Losses imposed upon or incurred by or asserted against any Provider Indemnitee, as the case may be, by reason of (i) any accident, injury to or death of
persons or loss of or damage to property occurring on or about any portion of the Shared Facilities then used or occupied by Recipient or the members of its Group or any other Person (excluding the Provider or members of its Group), to the extent
such Person’s use or occupancy is authorized or permitted by the Recipient or any member of its Group, during the Shared Lease Term, (ii) any failure on the part of the Recipient or any member of its Group to perform or comply with any
obligation of lessee under, or any other term of, any lease of any Shared Facility (each a “Shared Facility Lease”) during the Shared Lease Term, (iii) performance of any labor or services or the furnishing of any materials

  
 13 

 
or other property in respect of any portion of the Shared Facilities then used or occupied by Recipient or the members of its Group or any other Person (excluding Provider or members of its
Group), to the extent such Person’s use or occupancy is authorized or permitted by Recipient or any member of its Group, as the case may be or (iv) the use or occupancy of any of the Shared Facilities by Recipient or any member of its
Group or any other Person (excluding the Provider or the members of its Group), to the extent such Person’s use or occupancy is authorized or permitted by Recipient or the members of its Group, except in each case to the extent any such Losses
arise solely as the result of the gross negligence, willful misconduct or willful breach of this Agreement or any Shared Facility Lease of or by Provider or any member of its Group. 

(b)    Subject to Section 4.03, Provider shall indemnify, defend and hold harmless the Recipient Indemnitees from and
against all Losses imposed upon or incurred by or asserted against any Recipient Indemnitee, as the case may be, by reason of (i) any accident, injury to or death of persons or loss of or damage to property occurring on or about any portion of
the Shared Facilities then used or occupied by Provider or the members of its Group or any other Person (excluding Recipient or the members of its Group), to the extent such Person’s use or occupancy is authorized or permitted by Provider or
any member of its Group, during the Shared Lease Term, (ii) any failure on the part of Provider or any member of its Group to perform or comply with any obligation thereof under, or any other term of, any Shared Facility Lease during the Shared
Lease Term, (iii) performance of any labor or services or the furnishing of any materials or other property in respect of any portion of the Shared Facilities then used or occupied by Provider or the members of its Group or any other Person
(excluding Recipient or the members of its Group), to the extent such Person’s use or occupancy is authorized or permitted by Provider or any member of its Group, as the case may be or (iv) the use or occupancy of any of the Shared
Facilities by Provider or the members of its Group or any other Person (excluding Recipient or the members of its Group), to the extent such Person’s use or occupancy is authorized or permitted by Provider or any member of its Group, except in
each case to the extent any such Losses arise solely as the result of the gross negligence, willful misconduct or willful breach of this Agreement or any Shared Facility Lease of or by Recipient or any member of its Group. 

(c)    If it cannot be determined, acting reasonably, whether any accident, injury to or death of persons or loss of or
damage to property occurred on or about a portion of the Shared Facilities contemplated in Section 6.04(a)(i) or on or about a portion of the Shared Facilities contemplated in Section 6.04(b)(i), then liability shall be apportioned between
the Parties (or the appropriate member of their respective Group) based on the percentage of the relevant Shared Facility used or occupied by each of them. 

ARTICLE VII 

MISCELLANEOUS 

Section 7.01.    Confidentiality. Each party to this Agreement acknowledges that any and all Information
related to the Services or otherwise provided to any party pursuant to this Agreement or in connection with the provision of the Services shall be subject to in all respects the confidentiality obligations of Section 6.09 of the Separation, and
Distribution Agreement and Section 6.09 of the Separation and Distribution Agreement is hereby incorporated by reference, mutatis mutandis, as if set forth in full herein. 

  
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 Section 7.02.    Services Coordinators. Provider and
Recipient shall each select a services coordinator (a “Services Coordinator”) for each Service. Such Services Coordinators will be identified with respect to each Service on the applicable Schedule, and will act as the primary
contact person for the provision or receipt, as applicable, of such applicable Services. All communications relating to the provision of the applicable Service will be directed to the Services Coordinator of the other party with respect to such
Service. Provider and Recipient shall each be permitted, upon notice to the other party, to select any new or additional Services Coordinator with respect to any Service. 

Section 7.03.    Joint Essential Systems and Services Working Group. A joint working committee comprised of
representatives of Parent and the Company set forth in Schedule 3 (respectively, the “Parent ESS Designees” and the “Company ESS Designees”) is hereby established (the “ESS Committee”). From and
after the date of this Agreement, the ESS Committee shall consist of three Parent ESS Designees and three Company ESS Designees (together, the “ESS Designees”). From and after the date of this Agreement, the ESS shall meet on a
regular basis, in person or by telephone, without requirement for any quorum, at a time and place agreed by a majority of the ESS Designees to discuss and coordinate the provision of the Services pursuant to this Agreement and to perform such other
roles and responsibilities as may delegated to the ESS Committee by the parties from time to time. None of the ESS Designees shall have decision-making authority with respect to either party, except as otherwise duly granted to any such ESS Designee
by such party. 
 Section 7.04.    Dispute Resolution. In the event of any dispute or disagreement between
the parties to this Agreement or the members of their respective Groups as to the interpretation of any provision of the Agreement or in respect of the provision of the Services (a “Dispute”) that is not capable of being resolved by
the Services Coordinators, before initiating any legal action in respect of such Dispute, such Dispute shall be first referred to the ESS Committee by the Services Coordinators of each Party and shall be subject to informal good faith negotiation
among the Services Coordinators and the ESS Designees for a period of thirty (30) Business Days. If the ESS Committee and the Services Coordinators cannot resolve such Dispute within such thirty (30) Business Day period, the Dispute shall
be referred to the chief financial officer of each of the parties (provided that neither such Person is also an executive or member of the board of directors of the other party, in which case to an Independent Director of such party) (the
“Responsible Officers”). The Responsible Officers will meet in person or by telephone as often as reasonably necessary to resolve the Dispute in good faith. If the Responsible Officers are not able to resolve the Dispute within
sixty (60) days after such initial meeting, the parties shall be free to exercise all rights and remedies available under law or equity with respect to such Dispute. 

Section 7.05.    Other Property. Unless otherwise specified in the Separation and Distribution Agreement, any
and all equipment, Systems, tools, facilities and any and all other resources used by Provider and any of its Affiliates in connection with the provision of Services will remain, as between the parties, the sole and exclusive property of Provider.

  
 15 

 Section 7.06.    Notices. All notices and other
communications to be given to any party under this Agreement shall be sufficiently given for all purposes hereunder if in writing and delivered by hand, courier or overnight delivery service, or five (5) days after being mailed by certified or
registered mail, return receipt requested, with appropriate postage prepaid, or electronically mailed (with a response confirming receipt), and shall be directed to the address set forth below (or at such other address as such party shall designate
by like notice) with a copy to the applicable ESS Designees at the addresses listed in Schedule 3 (which shall not constitute notice): 
 If
to Parent, to: 
 FMC Corporation 

FMC Tower 
 2929 Walnut Street

 Philadelphia, PA 19104 

Attention: Executive Vice President and General Counsel 

Email: General.Counsel@fmc.com 

If to the Company to: 
 Livent
Corporation 
 FMC Tower 
 2929
Walnut Street 
 Philadelphia, PA 19104 

Attention: Executive Vice President and General Counsel 

Email: LiventGeneral.Counsel@livent.com 

Section 7.07.    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, 9.10, 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. 
 * * * * * 

  
 16 

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

			
	FMC CORPORATION
		
	By:	 	 
		 	Name:
		 	Title:

  

			
	LIVENT CORPORATION
		
	By:	 	 
		 	Name:
		 	Title:

  
 17

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