Document:

Tax Sharing Agreement

 EXHIBIT 10.2 
 TAX SHARING AGREEMENT 
 BY AND AMONG 
 HALLIBURTON COMPANY 
 AND ITS AFFILIATED COMPANIES 
 AND 
 KBR INC. 
 AND ITS AFFILIATED COMPANIES 
 January 1, 2006 

 TABLE OF CONTENTS 
  

					
	 ARTICLE I. DEFINITIONS
	  	2
	 Section 1.01
	  	 Definitions
	  	2
		
	ARTICLE II. PREPARATION AND FILING OF TAX RETURNS PRIOR TO DECONSOLIDATION YEAR	  	9
	 Section 2.01
	  	 Manner of Filing
	  	9
		
	ARTICLE III. ALLOCATION OF TAXES PRIOR TO DECONSOLIDATION YEAR	  	10
	 Section 3.01
	  	 Liability of the ESG Group for Consolidated and Combined Taxes
	  	10
	 Section 3.02
	  	 Liability of the KBR Group for Consolidated and Combined Taxes
	  	10
	 Section 3.03
	  	 ESG Group Federal Income Tax Liability
	  	10
	 Section 3.04
	  	 KBR Group Federal Income Tax Liability
	  	10
	 Section 3.05
	  	 ESG Group Combined Tax Liability
	  	11
	 Section 3.06
	  	 KBR Group Combined Tax Liability
	  	11
	 Section 3.07
	  	 Preparation and Delivery of Pro Forma Tax Returns
	  	11
	 Section 3.08
	  	 Intercompany Payables and Receivables
	  	11
	 Section 3.09
	  	 Credit for Use of Attributes
	  	12
	 Section 3.10
	  	 Subsequent Changes in Treatment of Tax Items
	  	13
	 Section 3.11
	  	 Foreign Corporations
	  	13
	 Section 3.12
	  	 KBR Holdings Not Disregarded
	  	13
	 Section 3.13
	  	 State and Local Filings
	  	13
	 Section 3.14
	  	 Group Relief
	  	14
		
	ARTICLE IV. PREPARATION AND FILING OF TAX RETURNS FOR AND AFTER THE DECONSOLIDATION YEAR	  	16
	 Section 4.01
	  	 Manner of Filing
	  	16
	 Section 4.02
	  	 Pre-Deconsolidation Tax Returns
	  	16
	 Section 4.03
	  	 Post-Deconsolidation Tax Returns
	  	16
	 Section 4.04
	  	 Accumulated Earnings and Profits, Initial Determination and Subsequent Adjustments
	  	17
	 Section 4.05
	  	 Tax Basis of Assets Transferred
	  	17
		
	ARTICLE V. ALLOCATION OF TAXES FOR AND AFTER DECONSOLIDATION YEAR; ALLOCATION OF ADDITIONAL TAX LIABILITIES	  	17
	 Section 5.01
	  	 Liability of the ESG Group for Consolidated and Combined Taxes
	  	17
	 Section 5.02
	  	 Liability of the KBR Group for Consolidated and Combined Taxes
	  	17
	 Section 5.03
	  	 ESG Group Federal Income Tax Liability
	  	18
	 Section 5.04
	  	 KBR Group Federal Income Tax Liability
	  	18
	 Section 5.05
	  	 ESG Group Combined Tax Liability
	  	19
	 Section 5.06
	  	 KBR Group Combined Tax Liability
	  	19
	 Section 5.07
	  	 Preparation and Delivery of Pro Forma Tax Returns
	  	19

 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

					
	 Section 5.08
	  	 HESI Intercompany Payables and Receivables; KBR Payment
	  	19
	 Section 5.09
	  	 Credit for Use of Attributes
	  	19
	 Section 5.10
	  	 Subsequent Changes in Treatment of Tax Items
	  	20
	 Section 5.11
	  	 Foreign Corporations
	  	21
	 Section 5.12
	  	 Allocation of Additional Tax Liabilities
	  	21
	 Section 5.13
	  	 Tax Attributes of KBR Not Carried Back
	  	27
		
	ARTICLE VI. TAX DISPUTE INDEMNITY; CONTROL OF PROCEEDINGS; COOPERATION AND EXCHANGE OF INFORMATION	  	27
	 Section 6.01
	  	 Tax Dispute Indemnity and Control of Proceedings
	  	27
	 Section 6.02
	  	 Cooperation and Exchange of Information
	  	29
	 Section 6.03
	  	 Reliance on Exchanged Information
	  	30
	 Section 6.04
	  	 Payment of Tax and Indemnity
	  	30
	 Section 6.05
	  	 Prior Tax Years
	  	31
		
	ARTICLE VII. WARRANTIES AND REPRESENTATIONS; INDEMNITY	  	32
	 Section 7.01
	  	 Warranties and Representations Relating to Actions of Halliburton and KBR
	  	32
	 Section 7.02
	  	 Warranties and Representations Relating to the Distribution
	  	32
	 Section 7.03
	  	 Covenants Relating to the Tax Treatment of the Distribution
	  	32
	 Section 7.04
	  	 Spinoff Indemnification
	  	36
	 Section 7.05
	  	 Indemnified Liability – Spinoff
	  	36
	 Section 7.06
	  	 Amount of Indemnified Liability for Income Taxes – Spinoff
	  	36
	 Section 7.07
	  	 Indemnity Amount – Spinoff
	  	37
	 Section 7.08
	  	 Additional Indemnity Remedy – Spinoff
	  	37
	 Section 7.09
	  	 Calculation of Indemnity Payments
	  	37
	 Section 7.10
	  	 Prompt Performance
	  	38
	 Section 7.11
	  	 Interest
	  	38
	 Section 7.12
	  	 Tax Records
	  	38
	 Section 7.13
	  	 KBR Representations and Covenants
	  	38
	 Section 7.14
	  	 Halliburton Representations and Covenants
	  	39
	 Section 7.15
	  	 Continuing Covenants
	  	39
		
	ARTICLE VIII. MISCELLANEOUS PROVISIONS	  	39
	 Section 8.01
	  	 Notice
	  	39
	 Section 8.02
	  	 Required Payments
	  	40
	 Section 8.03
	  	 Injunctions
	  	40
	 Section 8.04
	  	 Further Assurances
	  	40
	 Section 8.05
	  	 Parties in Interest
	  	40
	 Section 8.06
	  	 Setoff
	  	41
	 Section 8.07
	  	 Change of Law
	  	41
	 Section 8.08
	  	 Termination and Survival
	  	41
	 Section 8.09
	  	 Amendments; No Waivers
	  	41
	 Section 8.10
	  	 Governing Law and Interpretation
	  	41
	 Section 8.11
	  	 Resolution of Certain Disputes
	  	41
	 Section 8.12
	  	 Confidentiality
	  	42
	 Section 8.13
	  	 Costs, Expenses and Attorneys’ Fees
	  	42

  

 - ii - 

 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

					
	 Section 8.14
	  	 Counterparts
	  	42
	 Section 8.15
	  	 Severability
	  	42
	 Section 8.16
	  	 Entire Agreement; Termination of Prior Agreements
	  	43
	 Section 8.17
	  	 Assignment
	  	43
	 Section 8.18
	  	 Fair Meaning
	  	43
	 Section 8.19
	  	 Commencement
	  	43
	 Section 8.20
	  	 Titles and Headings
	  	44
	 Section 8.21
	  	 Construction
	  	44
	 Section 8.22
	  	 Termination
	  	44

  

 - iii - 

 TAX SHARING AGREEMENT 
 BY AND BETWEEN 
 HALLIBURTON COMPANY AND KBR, INC. 
 This Tax Sharing Agreement (the “Agreement”), dated as of this 1st day of January, 2006, by and between HALLIBURTON COMPANY, a Delaware
corporation (“Halliburton”), KBR Holdings LLC, a Delaware limited liability company (“KBR Holdings”), and KBR, Inc., a Delaware corporation (“KBR, Inc.”), is entered into as of the 15th day of November, 2006.

 RECITALS 
 WHEREAS,
Halliburton is the common parent of an affiliated group of corporations within the meaning of Section 1504(a) of the Code (as defined herein), which currently files a consolidated federal income tax return; 
 WHEREAS, Halliburton Energy Services, Inc., a Delaware corporation (“HESI”), and certain other entities and divisions comprise the Energy
Services Group of Halliburton (collectively, the “ESG Group”), and KBR (as defined herein) and certain other entities and divisions comprise the Energy & Chemicals Group and Government & Infrastructure Group of
Halliburton (collectively, the “KBR Group”); 
 WHEREAS, the ESG Group and the KBR Group each include various corporations that
join with Halliburton in the filing of a consolidated U.S. federal income tax return, as well as limited liability companies and other entities organized under the laws of domestic and foreign jurisdictions; 
 WHEREAS, Halliburton and KBR determined it would be appropriate and desirable, effective as of December 31, 2005, for KBR to reorganize its
operations to separate the operations traditionally associated with KBR from the operations traditionally associated with Halliburton (the “Restructuring”); 
 WHEREAS, Halliburton and KBR contemplate that as part of the Restructuring, KBR may make an initial public offering (the “IPO”) of KBR common stock that would reduce Halliburton’s ownership of KBR to
not less than the amount required for Halliburton to control KBR within the meaning of Section 368(c) of the Code with respect to the stock of KBR and to not less than the amount required for Halliburton to control KBR within the meaning of
Section 1504(a)(2) of the Code with respect to the stock of KBR; 
 WHEREAS, Halliburton may determine that it is in the best interests
of the Parties to cause (1) Kellogg Energy Services, Inc. to distribute the shares of KBR common stock to DII Industries, LLC, a Delaware limited liability company (“DII”), (2) DII in turn to distribute the shares of KBR common
stock to HESI and (3) HESI in turn to distribute the shares of KBR common stock to Halliburton, subject to the terms and conditions of the Master Separation Agreement or the Master Separation and Distribution Agreement (as applicable)
(collectively, the “Preliminary Distributions”); 

 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 WHEREAS, in connection with the Preliminary Distributions, Halliburton may determine that it is in
the best interests of the Parties for Halliburton to distribute all of its shares of KBR common stock, on a pro rata basis, to the holders of the common stock of Halliburton, subject to the terms and conditions of the Master Separation Agreement or
the Master Separation and Distribution Agreement (as applicable) (the “Distribution”); 
 WHEREAS, the Preliminary Distributions
and the Distribution are intended to qualify as tax free distributions under Section 355 of the Code; 
 WHEREAS, upon the
Deconsolidation (as defined herein), Halliburton and KBR will cease to be members of the same affiliated group for federal income tax purposes; 
 WHEREAS, the Parties wish to set forth the general principles under which they will allocate and share various Taxes (as defined herein) and related liabilities; 
 WHEREAS, in contemplation of the IPO and the Deconsolidation, Halliburton, on behalf of itself and its present and future subsidiaries other than KBR (“Halliburton Group”), and KBR, on behalf of itself and
its present and future subsidiaries (“KBR Group”) are entering into this Agreement to provide for the allocation between the Halliburton Group and the KBR Group of all responsibilities, liabilities and benefits relating to all Taxes paid
or payable by either group for all taxable periods beginning on or after the Effective Date (as defined herein) and to provide for certain other matters; 
 WHEREAS, the Parties intend and agree that the Effective Date with respect to the provisions of Articles II, III, VI and VIII is January 1, 2001. 
 NOW, THEREFORE, in consideration of the mutual agreements, provisions, and covenants contained in this Agreement, and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree as follows: 
 ARTICLE I.

 DEFINITIONS 
 Section 1.01 Definitions. The following terms shall have the following meanings (such meanings to be equally applicable to both the singular and the plural forms of the terms defined): 
 “Accounting Referee” is defined in Section 8.11 herein. 
 “Additional ESG Group Relief” is defined in Section 3.14(a). 
 “Additional KBR Group Relief” is defined in Section 3.14(a). 
 “Adequate Assurances” means posting a bond or providing a letter of credit reasonably acceptable to the Indemnified Party; provided,
however, if the Indemnifying Party fails to post such bond or provide such letter of credit, the Indemnifying Party shall provide cash equal to the Indemnity Amount to the Indemnified Party not less than thirty (30) days prior to the date on
which such Tax would become due and payable by the Indemnified Party. 
  

 - 2 - 

 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 “Affiliate” of any person means any person, corporation, partnership or other entity
directly or indirectly controlling, controlled by or under common control with such person. 
 “Affiliated Group” means an
affiliated group of corporations within the meaning of Section 1504(a) (excluding Section 1504(b)) of the Code for the taxable period in question. 
 “Code” means the Internal Revenue Code of 1986, as amended, or any successor thereto, as in effect for the taxable period in question. 
 “Combined Group” means a group of corporations or other entities that files a Combined Return. 
 “Combined Return” means any Tax Return (other than for Federal Income Taxes) filed on a consolidated, combined (including nexus
combination, worldwide combination, domestic combination, line of business combination or any other form of combination), unitary or Group Relief basis that includes activities of members of the ESG Group or the KBR Group, or both, as the case may
be. 
 “Compensatory Transaction” has the meaning set forth in Section 7.03(b)(iii). 
 “Consolidated Group” means the affiliated group of corporations (as defined in Section 1504(a) of the Code) of which Halliburton is
the common parent corporation. 
 “Consolidated Return” means a Tax Return filed with respect to Federal Income Taxes for
the Consolidated Group. 
 “Control” means stock constituting a 50% or greater interest under Section 355(e) of the
Code. 
 “Deconsolidation” means the event that reduces the amount of KBR stock owned directly or indirectly by Halliburton
to be less than the amount required for Halliburton to control KBR within the meaning of Section 1504(a)(2) of the Code. 
 “Deconsolidation Date” means the date the Deconsolidation occurs. 
 “Deconsolidation Year” means
the taxable year in which the Deconsolidation Date occurs. 
 “Displaced ESG Tax Attribute” has the meaning set forth in
Section 5.12(g) of this Agreement. 
 “Disputed Tax Issue” is defined in Section 6.01(a) herein. 
 “Disputed Tax Issue Indemnitee” is defined in Section 6.01(a) herein. 
 “Disputed Tax Issue Indemnitor” is defined in Section 6.01(a) herein. 
 “Disqualifying Action” is defined in Section 7.03(a)(i) hereof. 
  

 - 3 - 

 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 “Distribution” has the meaning set forth in the Recitals to this Agreement.

 “Distribution Date” is the date the Distribution occurs. 
 “Dual Consolidated Loss” has the meaning ascribed to such term in Treasury Regulation § 1.1503-2(c)(5), Treasury Regulation
§ 1.1503-2A(b)(2), or any successor regulations promulgated under section 1503 of the Code. 
 “Effective Date” is
January 1, 2006, provided, however that the Effective Date with respect to Articles II, III, VI and VIII is January 1, 2001. 
 “ESG Allocated Attributes” has the meaning set forth in Section 3.09 or Section 5.09 of this Agreement as the case requires. 
 “ESG Group” has the meaning set forth in the Recitals to this Agreement. 
 “ESG
Group Combined Tax Liability” means, with respect to any taxable period, the ESG Group’s liability for Taxes owed with respect to Combined Returns, as determined under Section 3.05 or Section 5.05 of this Agreement as the
case requires. 
 “ESG Group Federal Income Tax Liability” means, with respect to any taxable period, the ESG Group’s
liability for Federal Income Taxes, as determined under Section 3.03 or Section 5.03 of this Agreement as the case requires. 
 “ESG Group Members” means those entities or divisions of entities included in the ESG Group as set forth on Exhibit A, hereto. 
 “ESG Group Pro Forma Combined Return” means a pro forma Combined Return or other schedule prepared pursuant to Section 3.05 or Section 5.05 of this Agreement as the case requires.

 “ESG Group Pro Forma Consolidated Return” means a pro forma consolidated U.S. Federal Income Tax Return or other schedule
prepared pursuant to Section 3.03 or Section 5.03 of this Agreement as the case requires. 
 “ESG Group Relief Tax
Attribute” is defined in Section 3.14(a). 
 “ESG Stand-Alone Attributes” has the meaning set forth in
Section 3.09(a) or Section 5.09(a) of this Agreement as the case requires. 
 “Federal Income Tax” means any Tax
imposed under Subtitle A of the Code or any other provision of United States Federal Income Tax law (including, without limitation, the Taxes imposed by Sections 11, 55, 59A, and 1201(a) of the Code), and any interest, additions to Tax or penalties
applicable or related thereto. 
 “Final Determination” means the final resolution of any Tax (or other matter) for a
taxable period, including related interest or penalties, that, under applicable law, is not subject to further appeal, review or modification through proceedings or otherwise, including (i) by the 

  

 - 4 - 

 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 
expiration of a statute of limitations or a period for the filing of claims for refunds, amending Tax Returns, appealing from adverse determinations, or
recovering any refund (including by offset), (ii) by a decision, judgment, decree, or other order by a court of competent jurisdiction, which has become final and unappealable, (iii) by a closing agreement or an accepted offer in
compromise under Section 7121 or 7122 of the Code, or comparable agreements under laws of other jurisdictions, (iv) by execution of an Internal Revenue Service Form 870 or 870-AD, or by a comparable form under the laws of other
jurisdictions (excluding, however, with respect to a particular Tax Item for a particular taxable period any such form that reserves (whether by its terms or by operation of law) the right of the taxpayer to file a claim for refund and/or the right
of the Tax Authority to assert a further deficiency with respect to such Tax Item for such period), or (v) by any allowance of a refund or credit, but only after the expiration of all periods during which such refund may be adjusted.

 “Foreign Tax Credit Adjustment” has the meaning set forth in Section 5.12(f) hereof. 
 “Group Relief” has the meaning set forth in Section 3.14(a) hereof. 
 “Halliburton Affiliated Group” means, for each taxable period, the Affiliated Group of which Halliburton or any successor of Halliburton
is the common parent. 
 “Halliburton Affiliated Group Federal Income Tax Return” means the consolidated Federal income Tax
Return of the Halliburton Affiliated Group. 
 “Halliburton Group” is defined in the Recitals to this Agreement. 

“Indemnified Liability” has the meaning set forth in Section 7.05. 
 “Indemnified Party” has the meaning set forth in Section 7.04(b) of this Agreement. 
 “Indemnity Amount” has the meaning set forth in Section 7.07. 
 “Indemnifying Party” has the meaning set forth in Section 7.04(b) of this Agreement. 
 “IPO” is defined in the Recitals to this Agreement. 
 “IRS” means the United States Internal Revenue Service or any successor thereto, including, but not limited to, its agents, representatives, and attorneys. 
 “KBR” means KBR Holdings from the Effective Date to the day immediately prior to the earlier of (i) the Deconsolidation Date or
(ii) the date of the IPO and means KBR, Inc. from and after such date. 
 “KBR Affiliated Group” means, for each
taxable period, the Affiliated Group of which KBR or any successor of KBR is the common parent. 
 “KBR Allocated
Attributes” has the meaning set forth in Section 3.09 or Section 5.09 of this Agreement as the case requires. 
  

 - 5 - 

 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 “KBR Businesses” means the present, former and future subsidiaries, divisions and
businesses of any member of the KBR Group which are not, or are not contemplated by the Master Separation Agreement or the Master Separation and Distribution Agreement (as applicable) to be, part of the Halliburton Group immediately after the
Deconsolidation Date. 
 “KBR Foreign Taxes” has the meaning set forth in Section 5.12(f) of this Agreement.

 “KBR Group” is defined in the Recitals to this Agreement. 
 “KBR Group Combined Tax Liability” means, with respect to any taxable period, the KBR Group’s liability for Taxes owed with respect
to Combined Returns, as determined under Section 3.06 or Section 5.06 of this Agreement as the case requires. 
 “KBR Group
Federal Income Tax Liability” means, with respect to any taxable period, the KBR Group’s liability for U.S. Federal Income Taxes, as determined under Section 3.04 or Section 5.04 of this Agreement as the case requires.

 “KBR Group Members” means those entities or divisions of entities included in the KBR Group as set forth on Exhibit B,
hereto. 
 “KBR Group Pro Forma Combined Return” means a pro forma Combined Return or other schedule prepared pursuant to
Section 3.06 or Section 5.06 of this Agreement as the case requires. 
 “KBR Group Pro Forma Consolidated Return”
means a pro forma consolidated U.S. Federal Income Tax Return or other schedule prepared pursuant to Section 3.04 or Section 5.04 of this Agreement as the case requires. 
 “KBR Group Relief Tax Attribute” has the meaning set forth in Section 3.14(a) of this Agreement. 
 “KBR Losses” has the meaning set forth in Section 5.12(g) of this Agreement. 
 “KBR Restructuring Issue” is defined in Section 6.01(c) herein. 
 “KBR Stand-Alone Attributes” has the meaning set forth in Section 3.09(b) or Section 5.09(b) of this Agreement as the case
requires. 
 “Loss Adjustment” has the meaning set forth in Section 5.12(g) of this Agreement. 
 “Master Separation Agreement” means that certain Master Separation Agreement entered into by Halliburton and KBR, dated
November 20, 2006, together with that certain Distribution Agreement entered into between Halliburton and KBR attached as a Schedule to such Master Separation Agreement. 
 “Master Separation and Distribution Agreement” means that certain Master Separation and Distribution Agreement entered into by
Halliburton and KBR, dated November 20, 2006. 
  

 - 6 - 

 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 “Non-Transacting Party” is defined in Section 7.03(b)(i) herein. 
 “Notice” is defined in Section 8.01 herein. 
 “Party” means each of Halliburton and KBR, and, solely for purposes of this definition, “Halliburton” includes the Halliburton Group and “KBR” includes the KBR Group, all as of the
Deconsolidation Date. Each of Halliburton and KBR shall cause the Halliburton Group and the KBR Group, respectively, to comply with this Agreement. 
 “Post-Deconsolidation Period” means any period beginning after the Deconsolidation Date. 
 “Potential
Disqualifying Action” is defined in Section 7.03(a)(iii) hereof. 
 “Pre-Deconsolidation Period” means any
period ending on or before the Deconsolidation Date. 
 “Preliminary Distributions” is defined in the Recitals to this
Agreement. 
 “Private Letter Ruling” means the private letter ruling issued by the IRS to Halliburton in connection with
the Spinoff. 
 “Project Constructor” means the transaction, effective December 15, 2003, pursuant to which Halliburton
separated the ESG Group, on the one hand, from the Energy & Chemicals Group and the Government & Infrastructure Group (formerly the Engineering & Construction Group), on the other hand, with HESI acting as the holding
company for the ESG Group and DII acting as the holding company for the Energy & Chemicals Group and the Government & Infrastructure Group. 
 “Required Tax Attribute Carryback” is defined in Section 5.13 hereof. 
 “Restricted Period” means the period beginning two years before the Distribution Date and ending two years after the Distribution Date. 
 “Restructuring” is defined in the Recitals to this Agreement. 
 “Restructuring
Taxes” means any and all Taxes resulting from the Restructuring or from Project Constructor, and shall include any related interest, penalties, Tax credit recapture or other additions to Tax, including, without limitation, any Tax imposed
pursuant to, or as a result of, the application of Section 311 of the Code. 
 “Ruling Documents” means (1) the
request for a ruling under Section 355 and various other sections of the Code, that have been or will be filed with the IRS in connection with the Spinoff, together with any supplemental filings or ruling requests or other materials
subsequently submitted on behalf of Halliburton, its subsidiaries and shareholders to the IRS, the appendices and exhibits thereto, and any rulings issued by the IRS to Halliburton in connection with the Spinoff or (2) any similar filings
submitted to, or rulings issued by, any other Tax Authority in connection with the Spinoff. 
  

 - 7 - 

 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 “Section 171A” has the meaning set forth in Section 3.14(c). 
 “Spinoff” means the separation of KBR from Halliburton through the Distribution. 
 “Subsequent Ruling” has the meaning set forth in Section 7.03(a)(iii). 
 “Subsequent Opinion” has the meaning set forth in Section 7.03(a)(iii). 
 “Tainting Act” means (i) any act of omission or commission, including but not limited to, any transaction, representation, or
election which would constitute a breach by KBR (or its successors) of the warranties, representations and covenants of Sections 7.02 or 7.03 hereof (without regard to whether a Subsequent Opinion had been obtained); (ii) any breach of any
representation or covenant given by KBR in connection with the Private Letter Ruling, Subsequent Ruling, Tax Opinion or Subsequent Opinion which relates to the qualification of the Distribution as a Tax Free Spinoff; or (iii) any transaction
involving the stock or assets of KBR (or its successors) occurring after the Deconsolidation Date. 
 “Tax” means any of the
Taxes. 
 “Tax Attribute” means one or more of the following attributes of a member of either the ESG Group or the KBR
Group: (i) with respect to the Consolidated Return, a net operating loss, a net capital loss, an unused investment credit, an unused foreign tax credit, an excess charitable contribution, a U.S. federal minimum tax credit or U.S. federal
general business credit (but not tax basis or earnings and profits) and (ii) any comparable Tax Item reflected on a Combined Return. 
 “Tax Authority” means a governmental authority (foreign or domestic) or any subdivision, agency, commission or authority thereof or any quasi-governmental or private body having jurisdiction over the assessment,
determination, collection or imposition of any Tax (including, without limitation, the U.S. Internal Revenue Service). 
 “Tax
Controversy” means any audit, examination, dispute, suit, action, litigation or other judicial or administrative proceeding initiated by KBR, Halliburton, the IRS or any other Tax Authority. 
 “Tax Free Spinoff” is defined in Section 7.02(a) hereof. 
 “Tax Item” means any item of income, gain, loss, deduction or credit, or other item reflected on a Tax Return or any Tax Attribute.

 “Tax Counsel” means a nationally recognized law firm selected by Halliburton and engaged to deliver the Tax Opinion.

 “Tax Opinion” means an opinion of Tax Counsel to the effect that the Preliminary Distributions and the Distribution
should qualify as a Tax Free Spinoff. 
 “Tax Opinion Documents” means the officer’s certificates and other documents
submitted to Tax Counsel and relied on by Tax Counsel in rendering the Tax Opinion. 
  

 - 8 - 

 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 “Tax Return” means any return, report, certificate, form or similar statement or
document (including, any related or supporting information or schedule attached thereto and any information return, amended Tax Return, claim for refund or declaration of estimated tax) required to be supplied to, or filed with, a Tax Authority in
connection with the determination, assessment or collection of any Tax or the administration of any laws, regulations or administrative requirements relating to any Tax. 
 “Taxes” means all forms of taxation, whenever created or imposed, and whenever imposed by a national, local, municipal, governmental, state, federation or other body, and without limiting the
generality of the foregoing, shall include net income, alternative or add-on minimum tax, gross income, sales, use, ad valorem, gross receipts, value added, franchise, profits, license, transfer, recording, withholding, payroll, employment, excise,
severance, stamp occupation, premium, property, windfall profit, custom duty, or other tax, governmental fee or other like assessment or charge of any kind whatsoever, together with any related interest, penalties, or other additions to tax, or
additional amounts imposed by any such Tax Authority. 
 “Transacting Party” is defined in Section 7.03(b)(i) herein.

 Any term used but not capitalized herein that is defined in the Code or in the Treasury Regulations thereunder, shall to the extent
required by the context of the provision at issue, have the meaning assigned to it in the Code or such regulation. 
 ARTICLE II.

 PREPARATION AND FILING OF TAX 
 RETURNS PRIOR TO DECONSOLIDATION YEAR 
 Section 2.01 Manner of Filing. 
 (a) For periods after the Effective Date and prior to the Deconsolidation Year and except as provided in Section 2.0l(b) hereof, Halliburton shall
have the sole and exclusive responsibility for the preparation and filing of, and shall prepare and file or cause to be prepared and filed: (1) all Consolidated Returns and (2) all Combined Returns. 
 (b) For periods after the Effective Date and prior to the Deconsolidation Year and except as otherwise provided in Section 2.0l(a) hereof, the ESG
Group and the KBR Group shall have the sole and exclusive responsibility for the preparation and filing of, and shall prepare and file or cause to be prepared and filed, all Tax Returns of the ESG Group Members and the KBR Group Members that are not
required to be filed on a consolidated or combined basis. With respect to any Combined Return required to be filed in a foreign taxing jurisdiction, Halliburton shall determine, in its sole discretion, whether ESG Group Members or KBR Group Members,
rather than Halliburton, shall have the responsibility for preparing and filing such Combined Return and the manner in which Taxes related to such Combined Return shall be allocated and paid. 
  

 - 9 - 

 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 ARTICLE III. 
 ALLOCATION OF TAXES PRIOR TO DECONSOLIDATION YEAR 
 Section 3.01 Liability of the ESG Group
for Consolidated and Combined Taxes. For each taxable year ending prior to the Deconsolidation Year and beginning on or after the Effective Date, the ESG Group shall be liable to Halliburton for an amount equal to the ESG Group Federal Income
Tax Liability and the ESG Group Combined Tax Liability. 
 Section 3.02 Liability of the KBR Group for Consolidated and Combined
Taxes. For each taxable year ending prior to the Deconsolidation Year and beginning on or after the Effective Date, the KBR Group shall be liable to Halliburton for an amount equal to the KBR Group Federal Income Tax Liability and the KBR Group
Combined Tax Liability to the extent such liabilities are paid by Halliburton or by a member of the ESG Group. 
 Section 3.03 ESG Group
Federal Income Tax Liability. With respect to each taxable year ending prior to the Deconsolidation Year and beginning on or after the Effective Date, the ESG Group Federal Income Tax Liability for such taxable period shall be the Federal Income
Taxes for such taxable period, as determined on an ESG Group Pro Forma Consolidated Return prepared: 
 (a) assuming that the members of the
ESG Group were not included in the Consolidated Group and by including only Tax Items of members of the ESG Group that are included in the Consolidated Return; 
 (b) except as provided in Section 3.03(e) hereof, using all elections, accounting methods and conventions used on the Consolidated Return for such period; 
 (c) applying the highest statutory marginal corporate income Tax rate in effect for such taxable period; 
 (d) excluding any Tax Attributes for which HESI has been compensated pursuant to Section 3.09 hereof; 
 (e) assuming that the ESG Group elects not to carry back any net operating losses; and 
 (f) assuming that the ESG Group’s utilization of any Tax Attribute carryforward or carryback is limited to the Tax Attributes of the ESG Group that
would be available if the ESG Group Federal Income Tax Liability for each taxable year ending after January 1, 2001 were determined in accordance with this Section 3.03. 
 Section 3.04 KBR Group Federal Income Tax Liability. With respect to each taxable year ending prior to the Deconsolidation Year and beginning on
or after the Effective Date, the KBR Group Federal Income Tax Liability for such taxable period shall be the Federal Income Taxes for such taxable period, as determined on an KBR Group Pro Forma Consolidated Tax Return prepared: 
 (a) assuming that the members of the KBR Group were not included in the Consolidated Group and by including only Tax Items of members of the KBR Group
that are included in the Consolidated Return; 
  

 - 10 - 

 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 (b) except as provided in Section 3.04(e) hereof, using all elections, accounting methods and
conventions used on the Consolidated Return for such period; 
 (c) applying the highest statutory marginal corporate income Tax rate in
effect for such taxable period; 
 (d) excluding any Tax Attributes for which KBR has been compensated pursuant to Section 3.09 hereof;

 (e) assuming that the KBR Group elects not to carry back any net operating losses and may elect either to deduct or take a credit for
foreign Taxes paid or deemed paid (and to carryback or carryforward any excess foreign Taxes); and 
 (f) assuming that the KBR Group’s
utilization of any Tax Attribute carryforward or carryback is limited to the Tax Attributes of the KBR Group that would be available if the KBR Group Federal Income Tax Liability for each taxable year ending after January 1, 2001 were
determined in accordance with this Section 3.04. 
 Section 3.05 ESG Group Combined Tax Liability. With respect to any taxable
year ending prior to the Deconsolidation Year and beginning on or after the Effective Date, the ESG Group Combined Tax Liability shall be the sum for such taxable period of the ESG Group’s liability for Taxes owed with respect to Combined
Returns, as determined on the ESG Group Pro Forma Combined Returns prepared in a manner consistent with the principles and procedures set forth in Section 3.03 hereof. 
 Section 3.06 KBR Group Combined Tax Liability. With respect to any taxable year ending prior to the Deconsolidation Year and beginning on or after
the Effective Date, the KBR Group Combined Tax Liability shall be the sum for such taxable period of the KBR Group’s liability for Taxes owed with respect to Combined Returns, as determined on the KBR Group Pro Forma Combined Returns prepared
in a manner consistent with the principles and procedures set forth in Section 3.04 hereof. 
 Section 3.07 Preparation and Delivery
of Pro Forma Tax Returns. Not later than ninety (90) days following the date on which the related Consolidated Return or Combined Return, as the case may be, is filed with the appropriate Tax Authority, Halliburton shall prepare and deliver
to HESI and KBR, respectively, pro forma Tax Returns calculating (i) the ESG Group Federal Income Tax Liability or the ESG Group Combined Tax Liability, and (ii) the KBR Group Federal Income Tax Liability or the KBR Group Combined Tax
Liability, which is attributable to the period covered by such filed Tax Return. 
 Section 3.08 Intercompany Payables and
Receivables. The liability of the ESG Group and the KBR Group for (i) the ESG Group Federal Income Tax Liability and (ii) the KBR Group Federal Income Tax Liability, respectively, shall be reflected in the intercompany accounts of
Halliburton and HESI or KBR, as the case may be. 
  

 - 11 - 

 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 Section 3.09 Credit for Use of Attributes. Not later than ninety (90) days following the
filing of the Consolidated Return for each taxable year, Halliburton shall determine the aggregate amount of the Tax Attributes of the Consolidated Group and all Combined Groups that are allocable to the ESG Group (the “ESG Allocated
Attributes”) and the KBR Group (the “KBR Allocated Attributes”) as of the end of such year and shall inform HESI and KBR, respectively, of such determination. 
 (a) If the amount of the ESG Allocated Attributes is less than the amount of Tax Attributes (as reasonably determined by Halliburton) that would have
been available to the ESG Group at the end of such year had the ESG Group Members not been included in the Consolidated Return and the Combined Returns (the “ESG Stand-Alone Attributes”), the value of such shortfall, to the extent such
shortfall is attributable to the use of the ESG Group’s Tax Attributes by KBR Group Members, shall be reflected in the intercompany accounts as an amount payable by Halliburton to HESI. If the amount of the ESG Allocated Attributes is greater
than the ESG Stand-Alone Attributes, the value of such excess, to the extent such excess is attributable to the use of Tax Attributes of KBR Group Members by ESG Group Members during such year, shall be reflected in the intercompany accounts as an
amount payable by HESI to Halliburton. For this purpose, a Tax Attribute shall be treated as used by KBR Group Members or ESG Group Members only to the extent that such Tax Attribute is necessary to reduce the KBR Group Federal Income Tax Liability
or ESG Group Federal Income Tax Liability (computed in accordance with Section 3.04 or 3.03) for such year. In calculating the ESG Stand-Alone Attributes, the utilization of any Tax Attribute carryforward by ESG Group Members shall be subject
to the limitation described in Section 3.03(f) hereof. For purposes of this section, the value of any Tax Attribute shall be equal to the amount of Taxes (computed in accordance with Section 3.03 hereof) that would be avoided by the payor
if it had sufficient income to fully utilize such Tax Attribute in such year. 
 (b) If the amount of the KBR Allocated Attributes is less
than the amount of Tax Attributes (as reasonably determined by Halliburton) that would have been available to the KBR Group at the end of such year had the KBR Group Members not been included in the Consolidated Return and the Combined Returns (the
“KBR Stand-Alone Attributes”), the value of such shortfall, to the extent such shortfall is attributable to the use of the KBR Group’s Tax Attributes by ESG Group Members, shall be reflected in the intercompany accounts as an amount
payable by Halliburton to KBR. If the amount of the KBR Allocated Attributes is greater than the KBR Stand-Alone Attributes, the value of such excess, to the extent such excess is attributable to the use of Tax Attributes of ESG Group Members by KBR
Group Members during such year, shall be reflected in the intercompany accounts as an amount payable by KBR to Halliburton. For this purpose, a Tax Attribute shall be treated as used by ESG Group Members or KBR Group Members only to the extent that
such Tax Attribute is necessary to reduce the ESG Group Federal Income Tax Liability or KBR Group Federal Income Tax Liability (computed in accordance with Section 3.03 or 3.04) for such year. In calculating the KBR Stand-Alone Attributes, the
utilization of any Tax Attribute carryforward by KBR Group Members shall be subject to the limitation described in Section 3.04(f) hereof. For purposes of this section, the value of any Tax Attribute shall be equal to the amount of Taxes
(computed in accordance with Section 3.04 hereof) that would be avoided by the payor if it had sufficient income to fully utilize such Tax Attribute in such year. 
  

 - 12 - 

 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 Section 3.10 Subsequent Changes in Treatment of Tax Items. For any taxable year ending prior
to the Deconsolidation Year and beginning on or after the Effective Date, in the event of a change in the treatment of any Tax Item of any member of the Consolidated Group or a Combined Group as a result of a Final Determination, Halliburton shall
calculate (i) the change to the ESG Group Federal Income Tax Liability or ESG Group Combined Tax Liability and/or the KBR Group Federal Income Tax Liability or the KBR Group Combined Tax Liability and (ii) any change to the Allocated
Attributes and/or the Stand-Alone Attributes of the ESG Group and the KBR Group, and such changes shall be properly reflected in the intercompany accounts described in Section 3.09 hereof. 
 Section 3.11 Foreign Corporations. Any Taxes associated with the filing of a separate Tax Return in a foreign jurisdiction with respect to an ESG
Group Member or a KBR Group Member shall be allocated to and paid directly by such member. Any Taxes and Tax Attributes associated with the filing of a separate Tax Return in a foreign jurisdiction that includes the Tax Items of one or more ESG
Group Members and one or more KBR Group Members shall be allocated to such members by Halliburton in a manner consistent with the principles set forth in this Article III. 
 Section 3.12 KBR Holdings Not Disregarded. Notwithstanding KBR Holding’s classification as an entity disregarded as an entity separate from
its owner under Treasury Regulations § 301.7701-3: 
 (a) Tax Attributes of the KBR Group shall include the income and deductions of KBR
Holdings and such income and deductions of KBR Holdings shall not be included in the ESG Group’s Tax Attributes. 
 (b) Intercompany
accounts payable between Halliburton and KBR Holdings under Section 3.09(b) hereof shall remain intercompany accounts payable between Halliburton and KBR Holdings and shall not be treated instead as intercompany accounts payable between
Halliburton and Kellogg Energy Services, Inc. 
 (c) Amounts payable between Halliburton and KBR Holdings under Section 5.09(b) hereof
shall remain amounts payable between Halliburton and KBR Holdings and shall not be treated instead as amounts payable between Halliburton and Kellogg Energy Services, Inc. 
 Section 3.13 State and Local Filings. Any Taxes associated with the filing of a separate Tax Return in a state or local jurisdiction with respect
to an ESG Group Member or a KBR Group Member shall be allocated to and paid directly by such member. Any Taxes and Tax Attributes associated with the filing of a Combined Return in a state or local jurisdiction that includes the Tax Items of one or
more ESG Group Members and one or more KBR Group Members shall be allocated to such members by Halliburton in a manner consistent with the principles set forth in this Article III and consistent with past practices. 
  

 - 13 - 

 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 Section 3.14 Group Relief. For any accounting period ending prior to the Deconsolidation Year
and beginning on or after the Effective Date: 
 (a) Group Relief Indemnification. 
 (i) In the event a Final Determination causes Halliburton or any member of the ESG Group to recognize additional income directly as a
result of the reduction of the amount of “Group Relief” (as defined in Section 402 et seq. of the UK Income and Corporation Taxes Act 1988, as amended) that was surrendered by any member of the KBR Group (a “KBR Group Relief Tax
Attribute”), then KBR shall pay to Halliburton, no later than 90 days following the date of the Final Determination, the amount of additional Tax incurred by Halliburton or any member of the ESG Group that is directly attributable to the loss
of the KBR Group Relief Tax Attribute. In the event a Final Determination causes Halliburton or any member of the ESG Group to recognize less income directly as a result of an increase in the amount of Group Relief that is surrendered by any member
of the KBR Group (the “Additional KBR Group Relief”), then Halliburton shall pay to KBR, no later than 90 days following the date of the Final Determination, the amount of the reduction in Tax realized by Halliburton or any member of the
ESG Group that is directly attributable to the use of the Additional KBR Group Relief. 
 (ii) In the event a Final
Determination causes KBR or any member of the KBR Group to recognize additional income directly as a result of the reduction of the amount of Group Relief that was surrendered by any member of the ESG Group (an “ESG Group Relief Tax
Attribute”), then Halliburton shall pay to KBR, no later than 90 days following the date of the Final Determination, the amount of additional Tax incurred by KBR or any member of the KBR Group that is directly attributable to the loss of the
ESG Group Relief Tax Attribute. In the event a Final Determination causes KBR or any member of the KBR Group to recognize less income directly as a result of an increase in the amount of Group Relief that is surrendered by any member of the ESG
Group (the “Additional ESG Group Relief”), then KBR shall pay to Halliburton, no later than 90 days following the date of the Final Determination, the amount of the reduction in Tax realized by KBR or any member of the KBR Group that is
directly attributable to the use of the Additional ESG Group Relief. 
 (b) Group Relief Payment. 
 (i) No later than 90 days following the filing of any U.K. Tax Return for the accounting period in which a Group Relief is surrendered by
KBR or any member of the KBR Group to Halliburton or any member of the ESG Group, Halliburton shall pay to KBR an amount equal to the product of: (x) the aggregate amount of Group Relief that was surrendered to Halliburton or any member of the
ESG Group multiplied by (y) the highest U.K. Corporation Tax rate applicable to corporations at the time the Group Relief was surrendered by the member of the KBR Group. 
 (ii) No later than 90 days following the filing of any U.K. Tax Return for the accounting period in which a Group Relief is surrendered by
Halliburton or any member 

  

 - 14 - 

 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 
of the ESG Group to KBR or any member of the KBR Group, KBR shall pay to Halliburton an amount equal to the product of: (x) the aggregate amount of
Group Relief that was surrendered to KBR or any member of the KBR Group multiplied by (y) the highest U.K. Corporation Tax rate applicable to corporations at the time the Group Relief was surrendered by Halliburton or any member of the ESG
Group. 
 (c) Notional Asset Transfer and Indemnification. 
 (i) No later than 90 days following the filing of any U.K. Tax Return for the accounting period in which a capital asset was notionally
transferred under Section 171A of the Taxation of Chargeable Gains Act 1992 (“Section 171A”) in order to enable Halliburton or any member of the ESG Group to utilize a capital loss of any member of the KBR Group, Halliburton shall pay
to KBR an amount equal to the product of: (x) the aggregate amount of the capital gain transferred, multiplied by (y) the highest U.K. Corporation tax rate applicable to corporations at the time the asset was notionally transferred.

 (ii) No later than 90 days following the filing of any U.K. Tax Return for the accounting period in which a capital asset
was notionally transferred under Section 171A in order to enable KBR or any member of the KBR Group to utilize a capital loss of any member of the ESG Group, KBR shall pay to Halliburton an amount equal to the product of: (x) the aggregate
amount of the capital gain transferred, multiplied by (y) the highest U.K. Corporation tax rate applicable to corporations at the time the asset was notionally transferred. 
 (iii) In the event that either KBR or any member of the KBR Group is required to pay Tax (whether currently or as a result of a Final
Determination) as a result of a notional capital asset transfer described in Section 3.14(c)(i) hereof, Halliburton shall pay to KBR the amount of such Tax within 90 days following the filing of the U.K. Tax Return for the accounting period in
which such Tax is owed or within 90 days following a Final Determination with respect to such Tax, as the case may be. 
 (iv)
In the event that either Halliburton or any member of the ESG Group is required to pay Tax (whether currently or as a result of a Final Determination) as a result of a notional capital asset transfer described in Section 3.14(c)(ii) hereof, KBR
shall pay to Halliburton the amount of such Tax within 90 days following the filing of the U.K. Tax Return for the accounting period in which such Tax is owed or within 90 days following a Final Determination with respect to such Tax, as the case
may be. 
 (v) Notwithstanding anything to the contrary in this Agreement, the parties agree that no payment or
indemnification shall be required from Halliburton, KBR or any Affiliate thereof with respect to any notional transfer of capital asset under Section 171A relating to the sale of European Marine Contractors, Ltd. 
 (d) The consequences of any utilization of a KBR or KBR Group member U.K. Tax Attribute by Halliburton or any member of the ESG Group, and any
utilization of a Halliburton or ESG Group U.K. Tax Attribute by KBR or any member of the KBR Group, that is not 

  

 - 15 - 

 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 
attributable to Group Relief or notional capital asset transfer under Section 171A shall be determined in a manner consistent with the principles of
this Section 3.14. 
 (e) The provisions of this Section 3.14, Section 5.12(c), Section 6.01(a) and Section 6.05 are
intended to be the exclusive governing provisions with respect to indemnification and compensation rights and obligations among the parties relating to U.K. Group Relief and notional capital asset transfers under Section 171A. 
 ARTICLE IV. 
 PREPARATION AND
FILING OF TAX RETURNS FOR AND AFTER THE DECONSOLIDATION YEAR 
 Section 4.01 Manner of Filing. 
 (a) Except to the extent otherwise provided herein, all Tax Returns filed with federal and state Tax Authorities of the United States for the
Deconsolidation Year and for two taxable years following the Deconsolidation Year by Halliburton or by KBR shall be prepared (in the absence of a controlling change in law or circumstances or consent of Halliburton with such consent not to be
unreasonably withheld) consistent with past practices, elections, accounting methods, conventions, and principles of taxation used for the most recent taxable periods for which Tax Returns involving similar items have been filed prior to the
Deconsolidation Date. 
 (b) For a period of two (2) fiscal years following the Distribution Date, all Tax Returns filed by Halliburton
and KBR after the Distribution Date shall be prepared on a basis that is consistent with the Private Letter Ruling or Tax Opinion obtained by Halliburton in connection with the Distribution (in the absence of a controlling change in law or
circumstances), and shall be filed on a timely basis by the Party responsible for such filing under this Agreement. 
 Section 4.02
Pre-Deconsolidation Tax Returns. Except as provided in Section 4.03(b) hereof, all Tax Returns required to be filed for the portion of the Deconsolidation Year ending on the Deconsolidation Date shall be filed by the party who would bear
responsibility under Section 2.01 hereof if such Tax Returns were for periods prior to the Deconsolidation Year. 
 Section 4.03
Post-Deconsolidation Tax Returns. 
 (a) All Tax Returns of the KBR Group for the portion of the Deconsolidation Year beginning after
the Deconsolidation Date and all periods after the Deconsolidation Year shall be filed by KBR and all Tax Returns of the Halliburton Group for the portion of the Deconsolidation Year beginning after the Deconsolidation Date and all periods after the
Deconsolidation Year shall be filed by Halliburton. 
 (b) All KBR Group foreign, state or local income Tax Returns for the Deconsolidation
Year that are filed based on a complete fiscal year (i.e. there is not a Tax year end as of the Deconsolidation Date) shall be filed by KBR. 
  

 - 16 - 

 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 (c) If Deconsolidation occurs for federal Tax purposes but not for Combined Return purposes,
i.e., there is more than 50% but less than 80% ownership of KBR stock by Halliburton, the HESI and KBR Tax departments will develop procedures consistent with this Agreement for handling such Combined Returns. 
 Section 4.04 Accumulated Earnings and Profits, Initial Determination and Subsequent Adjustments. Within ninety (90) days following the
Distribution Date, Halliburton shall notify KBR of the balance of accumulated earnings and profits on Halliburton’s Tax records as of the Distribution Date which are allocable to the KBR Businesses, as calculated in accordance with the
appropriate provisions of the Code and the Treasury Regulations thereunder (including Section 312(h) of the Code and Treasury Regulations § 1.312-10 or any successor regulation thereto) by Halliburton. The notice provided by Halliburton to
KBR hereunder shall include supporting documentation which details the calculation of earnings and profits allocated to the KBR Businesses as of the Distribution Date. Within sixty (60) days after filing the Halliburton Affiliated Group Federal
Income Tax Return for the taxable year that includes the Distribution Date, Halliburton shall notify KBR of any adjustments in the Halliburton earnings and profits as of the Distribution Date and shall provide to KBR supporting documentation which
details the recalculation of Halliburton earnings and profits allocable to the KBR Businesses as of the Distribution Date. If in subsequent Tax years, a Final Determination results in an adjustment to the accumulated earnings and profits on the Tax
records of Halliburton as of the Distribution Date, Halliburton shall promptly notify KBR of the adjustment within sixty (60) days after receiving written notice of such Final Determination, and shall provide KBR with supporting documentation
which details the recalculation of Halliburton earnings and profits allocable to the KBR Businesses as of the Distribution Date. 
 Section
4.05 Tax Basis of Assets Transferred. Within ninety (90) days following the Distribution Date, Halliburton shall notify KBR of the Tax basis of the stock of any controlled foreign corporations (as defined in Section 957 of the Code)
transferred to KBR in the Restructuring. In the event that a Final Determination results in an adjustment to the basis of such stock, Halliburton shall notify KBR within sixty (60) days of receiving written notice of such Final Determination,
of the nature and amount of the adjustments and shall provide KBR with supporting documentation which details the calculation of such adjustments. 
 ARTICLE V. 
 ALLOCATION OF TAXES FOR AND AFTER DECONSOLIDATION YEAR; 
 ALLOCATION OF ADDITIONAL TAX LIABILITIES 
 Section 5.01 Liability of the ESG Group for Consolidated and Combined Taxes. For the Deconsolidation Year and all taxable years following the Deconsolidation Year, the ESG Group shall be liable to Halliburton
for an amount equal to the ESG Group Federal Income Tax Liability and the ESG Group Combined Tax Liability. 
 Section 5.02 Liability of
the KBR Group for Consolidated and Combined Taxes. For the Deconsolidation Year, the KBR Group shall be liable to Halliburton for an amount equal to the KBR Group Federal Income Tax Liability and the KBR Group Combined Tax Liability to the
extent such liability was paid by Halliburton or by a member of the ESG Group. 
  

 - 17 - 

 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 Section 5.03 ESG Group Federal Income Tax Liability. With respect to the Deconsolidation Year
and all taxable years following the Deconsolidation Year, the ESG Group Federal Income Tax Liability for such taxable period shall be the Federal Income Taxes for such taxable period, as determined on an ESG Group Pro Forma Consolidated Return
prepared: 
 (a) assuming that the members of the ESG Group were not included in the Consolidated Group and by including only Tax Items of
members of the ESG Group that are included in the Consolidated Return; 
 (b) except as provided in Section 5.03(e) hereof, using all
elections, accounting methods and conventions used on the Consolidated Return for such period; 
 (c) applying the highest statutory marginal
corporate income Tax rate in effect for such taxable period; 
 (d) excluding any Tax Attributes for which HESI has been compensated pursuant
to Section 5.09 hereof; 
 (e) assuming that the ESG Group elects not to carry back any net operating losses; and 
 (f) assuming that the ESG Group’s utilization of any Tax Attribute carryforward or carryback is limited to the Tax Attributes of the ESG Group that
would be available if the ESG Group Federal Income Tax Liability for each taxable year ending after January 1, 2001 were determined in accordance with this Section 5.03. 
 Section 5.04 KBR Group Federal Income Tax Liability. With respect to the Deconsolidation Year, the KBR Group Federal Income Tax Liability
for such taxable period shall be the Federal Income Taxes for such taxable period, as determined on an KBR Group Pro Forma Consolidated Tax Return prepared: 
 (a) assuming that the members of the KBR Group were not included in the Consolidated Group and by including only Tax Items of members of the KBR Group that are included in the Consolidated Return; 
 (b) except as provided in Section 5.04(e) hereof, using all elections, accounting methods and conventions used on the Consolidated Return for such
period; 
 (c) applying the highest statutory marginal corporate income Tax rate in effect for such taxable period; 
 (d) excluding any Tax Attributes for which KBR has been compensated pursuant to Section 5.09 hereof; 
 (e) assuming that the KBR Group elects not to carry back any net operating losses and may elect either to deduct or take a credit for foreign Taxes paid
or deemed paid (and to carryback or carryforward any excess foreign Taxes); and 
  

 - 18 - 

 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 (f) assuming that the KBR Group’s utilization of any Tax Attribute carryforward or carryback is
limited to the Tax Attributes of the KBR Group that would be available if the KBR Group Federal Income Tax Liability for each taxable year ending after January 1, 2001 were determined in accordance with this Section 5.04. 
 Section 5.05 ESG Group Combined Tax Liability. With respect to the Deconsolidation Year and all taxable years following the Deconsolidation Year,
the ESG Group Combined Tax Liability shall be the sum for such taxable period of the ESG Group’s liability for Taxes owed with respect to Combined Returns, as determined on the ESG Group Pro Forma Combined Returns prepared in a manner
consistent with the principles and procedures set forth in Section 5.03 hereof, without recalculating the state apportionment factors. 
 Section 5.06 KBR Group Combined Tax Liability. With respect to the Deconsolidation Year, the KBR Group Combined Tax Liability shall be the sum for such taxable period of the KBR Group’s liability for Taxes owed with respect to
Combined Returns, as determined on the KBR Group Pro Forma Combined Returns prepared in a manner consistent with the principles and procedures set forth in Section 5.04 hereof, without recalculating the state apportionment factors and assuming
that Tax Items of the KBR Group are not included in the Combined Returns of the Halliburton Group following the Deconsolidation Date. 
 Section 5.07 Preparation and Delivery of Pro Forma Tax Returns. Not later than ninety (90) days following the date on which the related Consolidated Return or Combined Return, as the case may be, is filed with the appropriate
Tax Authority, Halliburton shall prepare and deliver to HESI and KBR, respectively, pro forma Tax Returns calculating (i) the ESG Group Federal Income Tax Liability or the ESG Group Combined Tax Liability, and (ii) the KBR Group Federal
Income Tax Liability or the KBR Group Combined Tax Liability, which is attributable to the period covered by such filed Tax Return. 
 Section 5.08 HESI Intercompany Payables and Receivables; KBR Payment. The liability of the ESG Group for the ESG Group Federal Income Tax Liability and ESG Group Combined Tax Liability shall be reflected in the intercompany accounts
of Halliburton and HESI. For the Deconsolidation Year, KBR will pay Halliburton for the KBR Group Federal Income Tax Liability and the KBR Group Combined Tax Liability within sixty (60) days following the delivery to KBR by Halliburton of a KBR
Group Pro Forma Consolidated Tax Return or a KBR Group Pro Forma Combined Return, as the case may be, to the extent such Tax liabilities are paid by Halliburton or other person who is not a member of the KBR Group. For the Deconsolidation Year, any
payment due from KBR described in the previous sentence shall be decreased by the cumulative amount of payments made by KBR to Halliburton to fund Halliburton’s estimated Tax payments with respect to Taxes for the Deconsolidation Year.

 Section 5.09 Credit for Use of Attributes. Not later than ninety (90) days following the filing of the Consolidated Return for
the Deconsolidation Year and all taxable years following the Deconsolidation Year, Halliburton shall determine the aggregate amount of the Tax Attributes of the Consolidated Group and all Combined Groups that are allocable to the ESG Group (the
“ESG Allocated Attributes”) as of the end of such year and shall inform HESI of such determination. Not later than sixty (60) days following the filing of the Consolidated Return for the Deconsolidation Year, Halliburton shall
determine the aggregate amount of the 

  

 - 19 - 

 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 
Tax Attributes of the Consolidated Group and all Combined Groups that are allocable to the KBR Group (the “KBR Allocated Attributes”) as of the end
of such year and shall inform KBR of such determination. 
 (a) If the amount of the ESG Allocated Attributes is less than the amount of Tax
Attributes (as reasonably determined by Halliburton) that would have been available to the ESG Group at the end of such year had the ESG Group Members not been included in the Consolidated Return and the Combined Returns (the “ESG Stand-Alone
Attributes”), the value of such shortfall, to the extent such shortfall is attributable to the use of the ESG Group’s Tax Attributes by KBR Group Members, shall be reflected in the intercompany accounts as an amount payable by Halliburton
to HESI. If the amount of the ESG Allocated Attributes is greater than the ESG Stand-Alone Attributes, the value of such excess, to the extent such excess is attributable to the use of Tax Attributes of KBR Group Members by ESG Group Members during
such year, shall be reflected in the intercompany accounts as an amount payable by HESI to Halliburton. For this purpose, a Tax Attribute shall be treated as used by KBR Group Members or ESG Group Members only to the extent that such Tax Attribute
is necessary to reduce the KBR Group Federal Income Tax Liability or ESG Group Federal Income Tax Liability (computed in accordance with Section 5.04 or 5.03) for such year. In calculating the Stand-Alone Attributes, the utilization of any Tax
Attribute carryforward by ESG Group Members shall be subject to the limitation described in Section 5.03(f) hereof. For purposes of this section, the value of any Tax Attribute shall be equal to the amount of Taxes (computed in accordance with
Section 5.03 hereof) that would be avoided by the payor if it had sufficient income to fully utilize such Tax Attribute in such year. 
 (b) If the amount of the KBR Allocated Attributes for the Pre-Deconsolidation Period is less than the amount of Tax Attributes (as reasonably determined by Halliburton) that would have been available to the KBR Group for the
Pre-Deconsolidation Period had the KBR Group Members not been included in the Consolidated Return and the Combined Returns (the “KBR Stand-Alone Attributes”), the value of such shortfall, to the extent such shortfall is attributable to the
use of the KBR Group’s Tax Attributes by ESG Group Members, shall be paid by Halliburton to KBR within thirty (30) days of the date the KBR Allocated Attributes are determined. If the amount of the KBR Allocated Attributes for the
Pre-Deconsolidation Period is greater than the amount of the KBR Stand-Alone Attributes, the value of such excess, to the extent such excess is attributable to the use of Tax Attributes of ESG Group Members by KBR Group Members during such period,
shall be paid by KBR to Halliburton within thirty (30) days of the date the KBR Allocated Attributes are determined. For this purpose, a Tax Attribute shall be treated as used by ESG Group Members or KBR Group Members only to the extent that
such Tax Attribute is necessary to reduce the ESG Group Federal Income Tax Liability or KBR Group Federal Income Tax Liability (computed in accordance with Section 5.03 or 5.04) for such year. In calculating the KBR Stand-Alone Attributes, the
utilization of any Tax Attribute carryforward by KBR Group Members shall be subject to the limitation described in Section 5.04(f) hereof. For purposes of this section, the value of any Tax Attribute shall be equal to the amount of Taxes
(computed in accordance with Section 5.04 hereof) that would be avoided by the payor if it had sufficient income to fully utilize such Tax Attribute in such year. 
 Section 5.10 Subsequent Changes in Treatment of Tax Items. For the Deconsolidation Year and all taxable years following the Deconsolidation Year, in the event of a change in the 

  

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 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 
treatment of any Tax Item of any member of the Consolidated Group or a Combined Group as a result of a Final Determination, Halliburton shall calculate
(i) the change to the ESG Group Federal Income Tax Liability or ESG Group Combined Tax Liability and (ii) any change to the Allocated Attributes and/or the Stand-Alone Attributes of the ESG Group, and such changes shall be properly
reflected in the intercompany accounts described in Section 5.09(a) hereof. For the Deconsolidation Year, in the event of a change in the treatment of any Tax Item of any member of the Consolidated Group or a Combined Group as a result of a
Final Determination, Halliburton shall calculate (i) the change to the KBR Group Federal Income Tax Liability or KBR Group Combined Tax Liability and (ii) any change to the Allocated Attributes and/or the Stand-Alone Attributes of the KBR
Group and such changes shall be properly reflected in payments from Halliburton to KBR, or from KBR to Halliburton, as the case may be. 
 Section 5.11 Foreign Corporations. Any Taxes associated with the filing of a separate Tax Return in a foreign jurisdiction with respect to an ESG Group Member or a KBR Group Member shall be allocated to and paid directly by such
member. For the Deconsolidation Year any Taxes and Tax Attributes associated with the filing of a separate Tax Return in a foreign jurisdiction that includes the Tax Items of one or more ESG Group Members and one or more KBR Group Members shall be
allocated to such members by Halliburton in a manner consistent with the principles set forth in this Article V. 
 Section 5.12
Allocation of Additional Tax Liabilities. 
 (a) Restructuring Taxes. Notwithstanding that the Restructuring and Project
Constructor occurred prior to the Effective Date, notwithstanding any other provision of this Agreement to the contrary, and except as otherwise provided in the Master Separation Agreement or the Master Separation and Distribution Agreement (as
applicable) and Section 5.12(a)(i) hereof, Halliburton shall pay and shall indemnify and hold harmless KBR and any member of the KBR Group from and against any and all Restructuring Taxes, without regard to any benefit that any member of the
KBR Group might derive as a result of the payment of the Restructuring Taxes by Halliburton. Halliburton shall also be liable for all fees, costs and expenses, including reasonable attorneys’ fees, arising out of, or incident to, any
proceedings before any Tax Authority, or any judicial authority, with respect to any amount for which it is liable for under Section 5.12(a) hereof. 
 (i) In the event any Restructuring Taxes are attributable to a Tainting Act of KBR or any member of the KBR Group, then KBR shall pay and shall indemnify and hold harmless Halliburton from and against any and all
Restructuring Taxes and from and against any costs whatsoever connected with such Taxes, including, but not limited to, fees, interest, penalties, and expenses, including reasonable attorneys’ fees. For purposes of this Section 5.12(a)(i),
a Restructuring Tax is attributable to a Tainting Act if (1) such Tax would not have been imposed but for the Tainting Act, or (2) the Tainting Act would have independently caused the imposition of such Tax; provided, however, that in no
event shall a Restructuring Tax be considered attributable to a Tainting Act to the extent such Tax would not have been incurred but for a breach by Halliburton of any warranty, representation or covenant contained in Article VII hereof. 

 

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 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 (ii) An indemnification payment required to be made by one Party pursuant to
Section 5.12(a) hereof shall be paid in immediately available funds within thirty (30) days after receiving a written demand from the other Party for such payment; however, no Party shall make a written demand for an indemnification
payment attributable to Restructuring Taxes under Section 5.12(a) hereof until such Tax liability is established by a Final Determination. Any indemnification payment required to be made by either Party under Section 5.12(a) hereof which
is not paid timely shall bear interest (compounded daily) at the Federal short-term rate or rates established pursuant to Section 6621 of the Code for the period during which such payment is due but unpaid. 
 (b) Dual Consolidated Losses. 
 (i) Notwithstanding anything else to the contrary in this Agreement (including, without limitation, any provision of Article III or Article V hereof) other than Section 5.12(b)(iii), KBR and each member of the KBR Affiliated Group
shall not be liable for, and Halliburton shall indemnify and hold KBR and each member of the KBR Affiliated Group harmless against (A) any and all Tax or other loss resulting from a recapture of a Dual Consolidated Loss resulting from the
Spinoff and (B) any loss attributable to the reduction of an ESG Allocated Attribute otherwise available to Halliburton or any member of the Halliburton Affiliated Group resulting from a recapture of a Dual Consolidated Loss resulting from the
Spinoff. 
 (ii) Without limiting the generality of Section 6.02(a), KBR agrees to reasonably cooperate with Halliburton
and take any action (including executing any agreement or filing any document) or refrain from taking any action as reasonably requested by Halliburton in order to permit the deduction of a Dual Consolidated Loss incurred by Halliburton or any of
its present or former Affiliates prior to the Spinoff or during the Deconsolidation Year, including but not limited to filing for relief pursuant to Section 9100 of the Code or pursuant to any other published guidance of the Internal Revenue
Service with respect to the late filing of any documents, agreements or certifications, and entering into a closing agreement within the meaning of Section 7121 of the Code with the Internal Revenue Service (a “Closing Agreement”)
with respect to all Dual Consolidated Losses that Halliburton determines may be required to be recaptured as a result of the Spinoff. Halliburton will be responsible for and shall bear all costs relating to the preparation of any required Closing
Agreements (as defined in Treasury Regulations § 1.1503-2T(a)(2)) and for any other filings required under Section 9100 of the Code or any other provision of the Code or Treasury Regulations thereunder with respect to Dual Consolidated
Losses. Halliburton shall propose in writing to KBR the Dual Consolidated Losses relating to the KBR Group for which any agreement or filing with the Internal Revenue Service would be necessary to permit the deduction of a Dual Consolidated Loss or
avoid the recapture of the Dual Consolidated Losses that would otherwise result from the Spinoff. The final determination of the Dual Consolidated Losses for which such agreements or filings will be submitted shall be subject to the written consent
of KBR, which consent shall not be unreasonably withheld. 
 (iii) Notwithstanding Section 5.12(b)(i) hereof, in the
event KBR or any of its Affiliates takes or fails to take any action following the Spinoff (including, but not 

  

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 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 
limited to, a failure to execute and deliver the Closing Agreement contemplated by Section 5.12(b)(ii)) that results in a triggering event (as defined
in Treasury Regulations § 1.1503-2(g)(2)(iii)) with respect to a Dual Consolidated Loss identified by Halliburton pursuant to Section 5.12(b)(ii) which requires recapture of such Dual Consolidated Loss, KBR shall indemnify and hold
harmless Halliburton and its present and former Affiliates for any and all Tax payable by Halliburton resulting from the recapture of the Dual Consolidated Loss or any actual loss recognized by Halliburton attributable to the reduction of an ESG
Allocated Attribute resulting from the recapture of the Dual Consolidated Loss. For the avoidance of doubt, neither Halliburton nor any of its Affiliates shall be entitled to more than one recovery of any Tax or loss resulting from the Dual
Consolidated Loss recapture described in this Section 5.12(b)(iii). 
 (iv) Notwithstanding any other provision of this
Agreement to the contrary, KBR shall not indemnify Halliburton and its present and former Affiliates with respect to any Dual Consolidated Loss recapture attributable to Halliburton Productos Ltd., such Dual Consolidated Loss recapture shall not be
treated as an item of income of the KBR Group for any purpose of this Agreement, and Halliburton shall indemnify and hold harmless KBR and its Affiliates from any Tax payable by KBR or its Affiliates as a result of such Dual Consolidated Loss
recapture. 
 (c) Group Relief. For any accounting period beginning after the accounting periods described in Section 3.14
hereof: 
 (i) Group Relief Indemnification. 
 (1) In the event a Final Determination causes Halliburton or any member of the ESG Group to recognize additional income directly as a
result of the reduction of the amount of a KBR Group Relief Tax Attribute, then KBR shall pay to Halliburton, no later than 90 days following the date of the Final Determination, the amount of additional Tax incurred by Halliburton or any member of
the ESG Group that is directly attributable to the loss of the KBR Group Relief Tax Attribute. In the event a Final Determination causes Halliburton or any member of the ESG Group to recognize less income directly as a result of an increase in the
amount of the Additional KBR Group Relief, then Halliburton shall pay to KBR, no later than 90 days following the date of the Final Determination, the amount of the reduction in Tax realized by Halliburton or any member of the ESG Group that is
directly attributable to the use of the Additional KBR Group Relief. 
 (2) In the event a Final Determination causes KBR or
any member of the KBR Group to recognize additional income directly as a result of the reduction of the amount of an ESG Group Relief Tax Attribute, then Halliburton shall pay to KBR, no later than 90 days following the date of the Final
Determination, the amount of additional Tax incurred by KBR or any member of the KBR Group that is directly attributable to the loss of the ESG Group Relief Tax Attribute. In the event a Final Determination causes KBR or any member of the KBR Group
to recognize less income directly as a result of an increase in the 

  

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 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 
amount of the Additional ESG Group Relief, then KBR shall pay to Halliburton, no later than 90 days following the date of the Final Determination, the amount
of the reduction in Tax realized by KBR or any member of the KBR Group that is directly attributable to the use of the Additional ESG Group Relief. 
 (ii) Group Relief Payment. 
 (1) No later than 90 days following the filing of any U.K. Tax
Return, for the accounting period in which a Group Relief is surrendered by KBR or any member of the KBR Group to Halliburton or any member of the ESG Group, Halliburton shall pay to KBR an amount equal to the product of: (x) the aggregate
amount of Group Relief that was surrendered to Halliburton or any member of the ESG Group multiplied by (y) the highest U.K. Corporation Tax rate applicable to corporations at the time the Group Relief was surrendered by the member of the KBR
Group. 
 (2) No later than 90 days following the filing of any U.K. Tax Return for the accounting period in which a Group
Relief is surrendered by Halliburton or any member of the ESG Group to KBR or any member of the KBR Group, KBR shall pay to Halliburton an amount equal to the product of: (x) the aggregate amount of Group Relief that was surrendered to KBR or
any member of the KBR Group multiplied by (y) the highest U.K. Corporation Tax rate applicable to corporations at the time the Group Relief was surrendered by Halliburton or any member of the ESG Group. 
 (iii) Notional Asset Transfer and Indemnification. 
 (1) No later than 90 days following the filing of any U.K. Tax Return for the accounting period in which a capital asset was notionally
transferred under Section 171A in order to enable Halliburton or any member of the ESG Group to utilize a capital loss of any member of the KBR Group, Halliburton shall pay to KBR an amount equal to the product of: (x) the aggregate amount
of the capital gain transferred, multiplied by (y) the highest U.K. Corporation tax rate applicable to corporations at the time the asset was notionally transferred. 
 (2) No later than 90 days following the filing of any U.K. Tax Return for the accounting period in which a capital asset was notionally
transferred under Section 171A in order to enable KBR or any member of the KBR Group to utilize a capital loss of any member of the ESG Group, KBR shall pay to Halliburton an amount equal to the product of: (x) the aggregate amount of the
capital gain transferred, multiplied by (y) the highest U.K. Corporation tax rate applicable to corporations at the time the asset was notionally transferred. 
 (3) In the event that either KBR or any member of the KBR Group is required to pay Tax (whether currently or as a result of a Final
Determination) as a result of a notional capital asset transfer described in Section 5.12(c)(iii)(1) hereof, Halliburton shall pay to KBR the amount of such Tax within 90 days 

  

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 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 
following the filing of the U.K. Tax Return for the accounting period in which such Tax is owed or within 90 days following a Final Determination with
respect to such Tax, as the case may be. 
 (4) In the event that either Halliburton or any member of the ESG Group is
required to pay Tax (whether currently or as a result of a Final Determination) as a result of a notional capital asset transfer described in Section 5.12(c)(iii)(2) hereof, KBR shall pay to Halliburton the amount of such Tax within 90 days
following the filing of the U.K. Tax Return for the accounting period in which such Tax is owed or within 90 days following a Final Determination with respect to such Tax, as the case may be. 
 (5) Notwithstanding anything to the contrary in this Agreement, the parties agree that no payment or indemnification shall be required
from Halliburton, KBR or any Affiliate thereof with respect to any notional transfer of capital asset under Section 171A relating to the sale of European Marine Contractors, Ltd. 
 (iv) The consequences of any utilization of a KBR or KBR Group member U.K. Tax Attribute by Halliburton or any member of the ESG Group,
and any utilization of a Halliburton or ESG Group U.K. Tax Attribute by KBR or any member of the KBR Group, that is not attributable to Group Relief or notional capital asset transfer under Section 171A shall be determined in a manner
consistent with the principles of this Section 5.12(c). 
 (v) The provisions of Section 3.14, this
Section 5.12(c), Section 6.01(a) and Section 6.05 are intended to be the exclusive governing provisions with respect to indemnification and compensation rights and obligations among the parties relating to U.K. Group Relief and
notional capital asset transfers under Section 171A. 
 (d) Refunds. Each Party shall be entitled to retain or be paid all
refunds of Tax received, whether in the form of payment, credit or otherwise, from any Tax Authority with respect to any Tax for which such Party is responsible under this Article V. 
 (e) Allocation of Taxable Items. Halliburton shall determine the amounts of income, gain, loss, deduction, and credit of the KBR Group for the
Pre-Deconsolidation Period that are properly includible in the Consolidated Return for the taxable year which includes the Deconsolidation Date. For all relevant purposes of this Agreement, the members of the KBR Group and each KBR Combined Group
shall cease to be members of the Consolidated Group as of the end of the Deconsolidation Date, and the KBR Group shall cause the book of account of the KBR Group to be closed for accounting and Tax purposes as of the end of the Deconsolidation Date
in accordance with Halliburton’s direction. In determining consolidated taxable income for the taxable period that ends on the Deconsolidation Date, the income and other items of the KBR Group shall be determined in good faith by Halliburton in
accordance with Treasury Regulations §§ 1.1502-76(b)(1), 1.1502-76(b)(2)(i) and 1.1502-76(b)(2)(iv) and no election shall be made under § 1.1502-76(b)(2)(ii)(D) to ratably allocate items. However, an allocation shall be made in good
faith by Halliburton under Treasury Regulations 

  

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 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 
§ 1.1502- 76(b)(2)(iii) if such allocation is determined by Halliburton in good faith to be necessary to appropriately allocate items in the event the
Deconsolidation Date occurs on any date other than the last day of any month. 
 (f) Foreign Tax Credit True-Up. With respect to the
Deconsolidation Year, no later than ninety (90) days following the filing of a Consolidated Return, an amended Consolidated Return or a final settlement with the U.S. Internal Revenue Service, Halliburton shall determine the aggregate amount of
the “Foreign Tax Credit Adjustment.” The Foreign Tax Credit Adjustment shall be equal to (x) the aggregate amount of foreign Taxes paid or accrued by members of the KBR Group and allowable as foreign tax credits for United States
federal income tax purposes for the period commencing January 1, 2001, and ending on the Deconsolidation Date (the “KBR Foreign Taxes”), minus (y) the sum of (i) the aggregate amount during such period of KBR Foreign Taxes
used to reduce (either as a deduction or credit) the KBR Group’s Federal Income Tax Liability pursuant to Section 3.04 and Section 5.04 hereof, (ii) the aggregate amount during such period of credit that the KBR Group received
with respect to KBR Foreign Taxes pursuant to Section 3.09 and Section 5.09 hereof, and (iii) the aggregate amount during such period of KBR Foreign Taxes allocated to the KBR Group upon Deconsolidation pursuant to Treasury
Regulations § 1.1502-79(d). If such Foreign Tax Credit Adjustment is a positive amount, Halliburton shall pay such amount to the KBR Group. The payment in the preceding sentence shall be due within ninety (90) days following the earlier of
(a) the filing of the federal income Tax Return on which Halliburton realizes a benefit for the KBR Foreign Taxes or (b) the filing of the federal income Tax Return on which KBR could have utilized the foreign tax credits, were KBR in
possession of such foreign tax credits. For purposes of this agreement, a benefit for KBR Foreign Taxes is considered to be realized by Halliburton only when all available Halliburton/ESG Group foreign tax credits (except ESG Group foreign tax
credits carried back) have been utilized. If the amount determined pursuant to this Section 5.12(f) is a negative amount, the KBR Group shall pay such amount to Halliburton. If such negative amount is the result of a foreign tax credit carried
forward pursuant to Treasury Regulations § 1.1502-79(d), such payment shall be due no sooner than ninety (90) days following the filing of the federal income Tax Return on which the KBR Group realizes the benefit associated with the
foreign tax credit carryforward. 
 (g) KBR Group Tax Losses. Notwithstanding anything to the contrary in this Agreement, with respect
to tax years beginning on or after the Effective Date and ending prior to or on the Deconsolidation Date, no later than ninety (90) days following the filing of a Consolidated Return, an amended Consolidated Return or a final settlement with
the IRS, Halliburton shall determine the aggregate amount of the “Loss Adjustment.” The Loss Adjustment shall be an amount equal to: (x) the aggregate amount of Tax Attributes of the KBR Group reflected on the Consolidated Return that
are net operating losses or net capital losses for the period commencing on the Effective Date through the Deconsolidation Date (the “KBR Losses”) multiplied by thirty-five percent (35%); minus (y) the sum of: (i) the aggregate
amount during such period of reduction of the KBR Group’s U.S. federal income tax liability pursuant to Section 3.04 and Section 5.04 hereof resulting from the KBR Losses, (ii) the aggregate amount during such period of credit
that the KBR Group received with respect to the KBR Losses pursuant to Section 3.09 and Section 5.09 hereof, and (iii) the aggregate amount during such period of KBR Losses allocated to the KBR Group upon Deconsolidation pursuant to
Treasury Regulations §§ 1.1502-21 and 1.1502-22(b) multiplied by thirty-five percent (35%). If the Loss 

  

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 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 
Adjustment pursuant to the preceding sentence is a positive amount, Halliburton shall pay to KBR an amount equal to the Loss Adjustment when Halliburton
realizes a tax benefit from using the KBR Losses. Such payment shall be reduced by an amount equal to the tax benefit that Halliburton otherwise would have realized by the use of a Tax Attribute of a member of the ESG Group (a “Displaced ESG
Tax Attribute”) that would have been used if the KBR Losses had not been included in the Consolidated Return or final settlement with the IRS. When a Displaced ESG Tax Attribute is used, Halliburton shall then pay KBR an amount equal to the tax
benefit realized from the use of the Displaced ESG Tax Attribute by Halliburton. For purposes of this Section 5.12(g), Displaced ESG Tax Attributes shall be considered used and Halliburton shall be treated as recognizing a tax benefit from such
use (i) when they are applied to a Consolidated Return of the Halliburton Affiliated Group or ESG Group to reduce the consolidated tax liability of the Halliburton Affiliated Group or ESG Group; or (ii) when they are allocated to a member
of the Halliburton Affiliated Group or ESG Group that is no longer consolidated with the Halliburton Affiliated Group or ESG Group. Payments required under this Section 5.12(g) shall be made within 90 days of filing a Consolidated Return where
Halliburton has realized the tax benefit from using KBR Losses or a Displaced ESG Tax Attribute. 
 Section 5.13 Tax Attributes of KBR Not
Carried Back. With respect to any Tax Attributes incurred by the KBR Group in a Post-Deconsolidation Period, KBR shall not, and shall cause each member of the KBR Group to not, elect to carry back Tax Attributes to a Pre-Deconsolidation Period.
In the event the applicable Tax law requires a Tax Attribute of the KBR Group arising in a Post-Deconsolidation Period to be carried back to a Pre-Deconsolidation Period Tax Return of Halliburton or other member of the Halliburton Group (such Tax
Attribute being a “Required Tax Attribute Carryback”), KBR shall notify Halliburton of such Required Tax Attribute Carryback sixty (60) days prior to the date such Tax Return must be filed and KBR shall timely provide Halliburton with
all information reasonably necessary to properly account for such Required Tax Attribute Carryback on such Tax Return. If a Required Tax Attribute Carryback that is reported on a Tax Return filed by Halliburton or other member of the Halliburton
Group produces an actual Tax savings to Halliburton or other member of the Halliburton Group, Halliburton shall pay KBR an amount equal to such savings within sixty (60) days following the filing of such Tax Return. 
 ARTICLE VI. 
 TAX DISPUTE
INDEMNITY; CONTROL OF PROCEEDINGS; COOPERATION AND 
 EXCHANGE OF INFORMATION 
 Section 6.01 Tax Dispute Indemnity and Control of Proceedings. 
 (a) Whenever a Party becomes aware of the existence of an issue which relates to any Tax liability of the other Party (a “Disputed Tax Issue” of such other Party), and the rights or responsibilities under
this Agreement of such Party may be affected by the resolution of such Disputed Tax Issue, such Party (a “Disputed Tax Issue Indemnitee”) shall promptly notify the other Party (the “Disputed Tax Issue Indemnitor”) of the Disputed
Tax Issue. The Disputed Tax Issue Indemnitor has the right to defend, handle, settle or contest at its cost any Disputed Tax Issue; provided, however, that Halliburton shall have the right (but not the obligation) to defend, 

  

 - 27 - 

 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 
handle, settle or contest at KBR’s cost any Disputed Tax Issue related to a Disqualifying Action or Potential Disqualifying Action. 
 (b) Except as provided in this Article VI, Halliburton shall have full responsibility and discretion in handling, settling or contesting any Tax
Controversy involving a Tax Return for which it has filing responsibility under this Agreement. KBR shall have full responsibility and discretion in handling, settling or contesting any Tax Controversy involving a Tax Return for which it has filing
responsibility under this Agreement. Except as otherwise provided in Section 5.12(a)(i) hereof and in this Article VI, any costs incurred in handling, settling or contesting any Tax Controversy shall be borne by the Party having full
responsibility and discretion thereof. 
 (c) In the event that (x) a statutory notice of deficiency (or foreign, state or local law
equivalent) is received by Halliburton from the IRS or any other Tax Authority, (y) such notice is with respect to a Tax Return for which Halliburton has filing responsibility under this Agreement and (z) such notice relates in whole or in
part to Restructuring Taxes for which KBR could be liable to Halliburton pursuant to Section 5.12(a) hereof (a “KBR Restructuring Issue”) then 
 (i) Halliburton, upon receiving a written request from KBR to file a petition with the United States Tax Court (or equivalent foreign,
state or local court) seeking a redetermination of such deficiency, which shall be given no later than a date reasonably necessary to permit preparation and timely filing of such petition, shall timely file such petition; provided, however, that,
notwithstanding such request, Halliburton, with the prior written consent of KBR, shall have the option to pay the amount of the deficiency, in which case KBR shall either itself pay or loan to Halliburton no later than three (3) business days
before Halliburton pays such deficiency, without interest, and, until a Final Determination of the KBR Restructuring Issue results, one hundred (100) percent of the amount of the portion of the deficiency relating to the KBR Restructuring
Issue, and to file a claim for the refund thereof, and, if the claim is denied, to bring an action in a court of competent jurisdiction seeking the refund of Tax paid with respect to such deficiency; or 
 (ii) If (1) KBR does not request Halliburton to file a petition in the United States Tax Court (or equivalent foreign, state or local
court) for redetermination of the deficiency pursuant to Section 6.01(c)(i) hereof, (2) Halliburton does not, on its own initiative, timely file such a petition, and (3) KBR requests that Halliburton file a claim for refund, then KBR
shall either pay the deficiency or request in writing that Halliburton pay such deficiency, in which case KBR shall loan to Halliburton no later than three (3) business days before Halliburton pays such deficiency, without interest, and, until
a Final Determination of the KBR Restructuring Issue results, one hundred (100) percent of the amount of the portion of the deficiency relating to the KBR Restructuring Issue, which loan Halliburton shall use to pay such deficiency, and
Halliburton shall file a claim for refund thereof and, if the claim is denied, bring an action in a court of competent jurisdiction seeking such refund. 
 (iii) In the event that a judgment of the United States Tax Court or other court of competent jurisdiction results in an adverse determination with respect to the KBR 

  

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 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 
Restructuring Issue, and Halliburton notifies KBR that it does not intend to appeal such KBR Restructuring Issue, then KBR shall have the right to cause
Halliburton to appeal from such adverse determination at KBR’s expense. 
 (iv) KBR and its representatives, at
KBR’s expense, shall be entitled to participate in (1) all conferences, meetings, or proceedings with any Tax Authority, the subject matter of which is or includes the KBR Restructuring Issue and (2) all appearances before any court,
the subject matter of which includes the KBR Restructuring Issue. 
 (d) The right to participate referred to in Section 6.01(c)(iv)
hereof shall include, with respect to the KBR Restructuring Issue, the right to participate in the preparation and submission of documentation, protests, memoranda of fact and law and briefs; the conduct of oral arguments or presentations; the
selection of witnesses; and the negotiation of stipulations of fact. 
 (e) Notwithstanding Sections 6.01(c)(iv) and (d) hereof, unless
and until the notice provided in Section 6.01(c)(iii) above is given, Halliburton shall control the litigation of the KBR Restructuring Issue and have the authority to settle in a reasonable manner and in good faith any such issue. 

Section 6.02 Cooperation and Exchange of Information. 
 (a) Each Party shall cooperate fully at such time and to the extent reasonably requested by the other Party in connection with the preparation and filing of any Tax Return or claim for refund, or the conduct of any
audit, dispute, proceeding, suit or action concerning any issues or other matters considered in this Agreement. Such cooperation shall include, without limitation, the following: (i) forwarding promptly copies of appropriate notices and forms
or other communications received from any Tax Authority (including any IRS revenue agent’s report or similar report, notice of proposed adjustment, or notice of deficiency) or sent to any Tax Authority or any other administrative, judicial or
other governmental authority that relate to a Disputed Tax Issue; (ii) the retention and provision on demand of Tax Returns, books, records (including those concerning ownership and Tax basis of property which either Party may possess),
documentation or other information relating to the Tax Returns, including accompanying schedules, related workpapers, and documents relating to rulings or other determinations by Taxing Authorities, until the expiration of the applicable statute of
limitations (giving effect to any extension, waiver or mitigation thereof) subject to the provisions of Section 6.02(e) hereof; (iii) the provision of additional information, including an explanation of material provided under clause
(i) of Section 6.02(a) hereof, to the extent such information is necessary or reasonably helpful in connection with the foregoing; (iv) the execution of any document that may be necessary or reasonably helpful in connection with the
filing of a Tax Return by Halliburton or KBR or of their respective subsidiaries, or in connection with any audit, dispute, proceeding, suit or action; and (v) such Party’s commercially reasonable efforts to obtain any documentation from a
governmental authority or a third party that may be necessary or reasonably helpful in connection with any of the foregoing. 
  

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 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 (b) Both Parties shall use reasonable efforts to keep each other advised as to the status of Tax
audits or Tax Controversies involving a Disputed Tax Issue and cooperate in a defense with respect to a Disputed Tax Issue in any Tax Controversy. 
 (c) Each Party shall make its employees and facilities available on a reasonable and mutually convenient basis in connection with any of the foregoing matters. 
 (d) If either Party fails to provide any information requested pursuant to Section 6.02 hereof within a reasonable period, as determined in good faith by the Party requesting the information, then the requesting
Party shall have the right to engage a public accounting firm to gather such information, provided that thirty (30) days prior written notice is given to the unresponsive Party. If the unresponsive Party fails to provide the requested
information within thirty (30) days of receipt of such notice, then such unresponsive Party shall permit the requesting Party’s public accounting firm full access to all appropriate records or other information as reasonably necessary to
comply with the requirements of Section 6.02 hereof and shall reimburse the requesting Party or pay directly all costs connected with the requesting Party’s engagement of the public accounting firm. 
 (e) Upon the expiration of any statute of limitations, the documentation of Halliburton or KBR or any of their respective subsidiaries, including,
without limitation, books, records, Tax Returns and all supporting schedules and information relating thereto, shall not be destroyed or disposed of unless (i) the Party proposing such destruction or disposal provides sixty (60) days prior
written notice to the other Party describing in reasonable detail the documentation to be destroyed or disposed of and (ii) the recipient of such notice agrees in writing to such destruction or disposal. If the recipient of such notice objects,
then the Party proposing the destruction or disposal shall promptly deliver such materials to the objecting Party at the expense of the objecting Party. 
 Section 6.03 Reliance on Exchanged Information. If either Party supplies information to the other Party upon such Party’s request, and an officer of the requesting Party intends to sign a statement or
other document under penalties of perjury in reliance upon the accuracy of such information, then a duly authorized officer of the Party supplying such information shall certify, to the best of such Party’s knowledge, the accuracy and
completeness of the information so supplied. 
 Section 6.04 Payment of Tax and Indemnity. Except as provided in Section 7.03 of
this Agreement, Halliburton shall timely pay (or shall cause to be timely paid) all Taxes of the Consolidated Group, of any Combined Group which includes a member of the ESG Group and of any entity or person that is not a member of the KBR Group and
shall indemnify and hold harmless KBR for all liability for Taxes of any member of the Consolidated Group, of any Combined Group which includes a member of the ESG Group or of any other person or entity that is not a member of the KBR Group assessed
against any member of the KBR Group pursuant to Treasury Regulations § 1.1502-6 or any analogous or similar law. 
  

 - 30 - 

 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 Section 6.05 Prior Tax Years. For all taxable periods beginning before the Effective Date of
this Article VI (January 1, 2001), the Parties hereby agree that: 
 (a) KBR shall have full responsibility and discretion in handling,
settling or contesting any Tax Controversy involving a Tax Return that includes Tax Items of a member of the KBR Group and does not include Tax Items of a member of the ESG Group; 
 (b) Halliburton shall have full responsibility and discretion in handling, settling or contesting any Tax Controversy involving a Tax Return that
includes Tax Items of a member of the ESG Group and does not include Tax Items of a member of the KBR Group; 
 (c) Halliburton shall have
full responsibility and discretion in handling, settling or contesting any Tax Controversy involving any Tax Return not described in Section 6.05(a) or (b); 
 (d) with respect to any Consolidated Return or Combined Return described in this Section 6.05 that includes activities of members of the ESG Group and the KBR Group, KBR shall pay to Halliburton, within ninety
(90) days of a Final Determination of any Tax, any liability for such Tax attributable to a member of the KBR Group, as reasonably determined by Halliburton; 
 (e) with respect to any Consolidated Return or Combined Return described in this Section 6.05 that includes activities of members of the ESG Group and the KBR Group, Halliburton shall pay to KBR, within ninety
(90) days of a Final Determination of any Tax, any refund due with respect to such Final Determination attributable to a member of the KBR Group, as reasonably determined by Halliburton; 
 (f) any costs incurred in handling, settling or contesting any Tax Controversy described in Section 6.05(a) shall be borne by KBR, any costs
incurred in handling, settling or contesting any Tax Controversy described in Section 6.05(b) shall be borne by Halliburton and any costs incurred in handling, settling or contesting any Tax Controversy described in Section 6.05(c) shall
be borne by the Party who would bear such costs if Section 6.01(a) applied; 
 (g) for the purposes of this Section 6.05,
Halliburton Produtos Ltda. shall be considered a member of the KBR Group until the date it is transferred to Kellogg Energy Services, Inc.; and 
 (h) except to the extent otherwise provided in this Section 6.05, the provisions of Article VI shall apply to the taxable periods described in this Section 6.05. For the avoidance of doubt, notwithstanding anything to the contrary
in this Section 6.05, the provisions of Section 6.01(a) shall apply to any Disputed Tax Issue relating to any taxable period beginning before the Effective Date of this Article VI. 
  

 - 31 - 

 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 ARTICLE VII. 
 WARRANTIES AND REPRESENTATIONS; INDEMNITY 
 Section 7.01 Warranties and Representations
Relating to Actions of Halliburton and KBR. Each of Halliburton and KBR warrants and represents to the other that: 
 (a) it is a
corporation duly organized, validly existing and in good standing under the laws of the State of Delaware and has all requisite corporate power to own, lease and operate its properties, to carry on its business as presently conducted and to carry
out the transactions contemplated by this Agreement; 
 (b) it has duly and validly taken all corporate action necessary to authorize the
execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby; 
 (c) this Agreement has
been duly executed and delivered by it and constitutes its legal, valid and binding obligation enforceable in accordance with its terms subject, as to the enforcement of remedies, to (i) applicable bankruptcy, reorganization, insolvency,
moratorium or other similar laws affecting the enforcement or creditors’ rights generally from time to time in effect and (ii) to general principles of equity, whether enforcement is sought in a proceeding at law or in equity; and

 (d) the execution and delivery of this Agreement, the consummation of the transactions contemplated hereby, or the compliance with any of
the provisions of this Agreement will not (i) conflict with or result in a breach of any provision of its certificate of incorporation or by-laws, (ii) breach, violate or result in a default under any of the terms of any agreement or other
instrument or obligation to which it is a party or by which it or any of its properties or assets may be bound, or (iii) violate any order, writ, injunction, decree, statute, rule or regulation applicable to it or affecting any of its
properties or assets. 
 Section 7.02 Warranties and Representations Relating to the Distribution. 
 (a) In General. Each of the Parties represents that, as of the date of this Agreement, it knows of no fact (after due inquiry) that may cause the
Tax treatment of the Distribution to be other than a distribution of KBR stock with respect to which no gain or loss is recognized by Halliburton, KBR or their respective stockholders pursuant to Section 355 and related provisions of the Code
and relevant Treasury regulations promulgated thereunder (such distribution a “Tax Free Spinoff”). 
 (b) No Contrary Plan.
Each of the Parties represents that it has no plan or intent to take any action which is inconsistent with the treatment of the Distribution as a Tax Free Spinoff. 
 Section 7.03 Covenants Relating to the Tax Treatment of the Distribution. 
 (a) In General.
The Parties intend the Distribution to qualify as a Tax Free Spinoff. 
 (i) During the Restricted Period, KBR shall not
permit or take any action within its control (including entering into any agreement, understanding or arrangement or any negotiations with respect to any transactions or series of transactions) that, or fail to take any action within its control the
failure of which, would cause the Distribution to fail to qualify as a Tax Free Spinoff (any such action or failure to act, a “Disqualifying Action”). 
  

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 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 (ii) For the avoidance of doubt, and without limitation, Disqualifying Actions
include (1) KBR causing or permitting to be caused a change in its Control or (2) KBR ceasing the active conduct of a trade or business within the meaning of Section 355(b) of the Code to the extent the existence of such trade or
business was necessary to a conclusion reached by the IRS in the Private Letter Ruling or a conclusion reached by Tax Counsel in the Tax Opinion, unless Halliburton consents in writing to such action, unless expressly required or permitted pursuant
to the Master Separation Agreement or Master Separation and Distribution Agreement (as applicable), or unless, for actions after the Distribution Date, KBR first obtains, and permits Halliburton to review, either a supplemental ruling from the IRS
or an opinion from a nationally recognized law firm reasonably acceptable to Halliburton, in either case, to the effect that such action or non-action referred to in this Section 7.03(a)(ii) will not affect the qualification of the Distribution
as a Tax Free Spinoff. 
 (iii) During the Restricted Period, except for transactions contemplated by the Master Separation
Agreement or Master Separation and Distribution Agreement (as applicable), KBR shall not take any action within its control, taken alone or together with any other action (including entering into any agreement, understanding or arrangement or any
negotiations with respect to any transactions or series of transactions), that, or fail to take any action within its control the failure of which, would result in a more than immaterial possibility that the Distribution would be treated as part of
a plan pursuant to which one or more persons acquire directly or indirectly KBR stock representing a “50-percent or greater interest” within the meaning of Section 355(e)(4) of the Code (any such action or failure to act, a
“Potential Disqualifying Action”), unless, prior to the taking of the Potential Disqualifying Action, KBR delivers to Halliburton either a private letter ruling from the IRS reasonably acceptable to Halliburton (a “Subsequent
Ruling”) or an opinion from a nationally recognized law firm reasonably acceptable to Halliburton (a “Subsequent Opinion”), in either case, to the effect that the Potential Disqualifying Action would not cause the Distribution to
cease to qualify as a Tax Free Spinoff. 
 (iv) For the avoidance of doubt, and without limitation, each of the following
constitutes a Potential Disqualifying Action pursuant to Section 7.03(a)(iii) hereof: 
 (1) The merger or consolidation
of KBR with or into any other corporation; 
 (2) The liquidation or partial liquidation of KBR (within the meaning of such
terms as defined in Section 346 and Section 302, respectively, of the Code); 
 (3) The sale or transfer of all or
substantially all of KBR’s assets (within the meaning of Rev. Proc. 77-37, 1977-2 C.B. 568) in a single transaction or series of related transactions; 
 (4) The redemption or other repurchase of any of KBR’s capital stock (other than in connection with future employee benefit plans or pursuant to a 

  

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 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 
future market purchase program involving five (5) percent or less of its publicly traded stock); or 
 (5) The change in KBR’s equity structure (including stock issuances, pursuant to the exercise of options, the vesting of restricted
stock units or otherwise, option grants, the adoption of, or authorization of shares under a stock option plan, grants of restricted stock or stock units, capital contributions or acquisition); provided, however, that stock issuances pursuant to and
awards under the KBR, Inc. 2006 Stock and Incentive Plan or the Transitional Stock Adjustment Plan related to conversions of awards made with respect to Halliburton stock shall not be considered a change in KBR’s equity structure for purposes
of this Section 7.03(a)(iv)(5); 
 unless such action is expressly required or permitted pursuant to the Master Separation Agreement or
Master Separation and Distribution Agreement (as applicable) or unless KBR first delivers to Halliburton a Subsequent Ruling or a Subsequent Opinion, both reasonably acceptable to Halliburton, in either case, to the effect that the action would not
cause the Distribution to cease to qualify as a Tax Free Spinoff. 
 (b) Notice of Events That Could Affect the Tax Treatment of the
Distribution and Right to Enjoin. 
 (i) Subject to Section 7.03(b)(iii) hereof, until the first day after the second
anniversary of the Distribution, KBR shall give Halliburton at least thirty (30) days prior written notice of KBR’s intention to effect any transaction with respect to KBR’s capital structure, whether through issuance, redemption or
otherwise if and to the extent there is more than an immaterial possibility that such transaction would constitute a Disqualifying Action. Each such notice shall set forth the necessary terms and conditions of the proposed transaction, including, as
applicable, the nature of any related action proposed to be taken, the approximate number of shares proposed to be issued, redeemed or transferred (directly or indirectly, in accordance with the provisions of Section 355(e) of the Code), all
with sufficient particularity to enable Halliburton to review and comment on the effect of such transaction with respect to Section 355(e) of the Code. Because the damages that may result to Halliburton will be difficult to quantify, in the
event Halliburton obtains an opinion from a nationally recognized law firm that the proposed transaction described in this Section 7.03(b)(i) would more likely than not constitute a Disqualifying Action, Halliburton shall have the right to
enjoin KBR from entering into such transaction, and upon ten (10) business days prior written notice from Halliburton of its desire to enjoin such transaction, KBR shall not enter into such transaction; provided, however, that Halliburton will
not waive its right to recover damages for breach of this Agreement if KBR is not enjoined from engaging in the proposed transaction. 
 (ii) If KBR receives a Subsequent Opinion or Subsequent Ruling, KBR shall notify Halliburton and (if Halliburton is not otherwise provided a copy) provide Halliburton promptly with a copy of such Subsequent Opinion or
Subsequent Ruling, but 

  

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 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 
in any event with ten (10) business days after the receipt of the Subsequent Opinion or Subsequent Ruling. 
 (iii) Notice shall not be required under Section 7.03(b)(i) hereof with respect to the grant and/or exercise of any stock option,
stock, stock-based compensation or other employment related arrangements arising in the ordinary course of business that have customary terms and conditions consistent with past practice (a “Compensatory Transaction”) if the Compensatory
Transaction satisfies the requirements of Treasury Regulations § 1.355-7(d)(8), or, if in the case of options, if (A) the exercise price is equal to or greater than the fair market value of the stock subject to the option on the date of
grant or issuance and (B) such option does not have a readily ascertainable fair market value within the meaning of Treasury Regulations § 1.83-7. 
 (iv) Each Party shall furnish the other with a copy of any document of information that reasonably could be expected to affect treatment
of the Distribution as a Tax Free Spinoff. 
 (v) All information provided by any Party to the other Party pursuant to this
Section 7.03(b) shall be kept confidential pursuant to the terms and conditions of Section 8.12 hereof. 
 (c) Cooperation
Relating to the Tax Treatment of the Distribution. 
 (i) Each Party shall cooperate with the other and shall take such
actions reasonably requested by such other Party in connection with obtaining either a Subsequent Ruling or Subsequent Opinion. Such cooperation shall include providing any information, representations and/or covenants reasonably requested by the
requesting Party to enable such Party to obtain, or maintain the validity of, either a Subsequent Ruling or Subsequent Opinion. From and after any date on which a Party makes any representation or covenant to counsel for the purpose of obtaining a
Subsequent Opinion or to the IRS for the purpose of obtaining a Subsequent Ruling and until the first day after the second anniversary (or such later date as may be agreed upon at the time such representations and/or covenants are made) of the date
of such Subsequent Ruling or Subsequent Opinion, the party making such representation or covenant shall take no action that would have caused such representation to be untrue or covenant to be breached unless Halliburton determines, in its
reasonable discretion, which discretion shall be exercised in good faith solely to ensure that the Distribution constitutes a Tax Free Spinoff, that such action would not cause the Distribution to fail to qualify as a Tax Free Spinoff. 

(ii) KBR shall not file any request for a Subsequent Ruling with respect to the treatment of the Distribution as a Tax Free Spinoff
without the prior written consent of Halliburton, which consent shall not be unreasonably withheld or delayed, if a favorable Subsequent Ruling would be reasonably likely to have an adverse effect on Halliburton. 
 (d) Each Party agrees that it will not take any position on a Tax Return that is inconsistent with the treatment of the Distribution as a Tax Free
Spinoff. 
  

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 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 (e) Each Party agrees (i) not to take any action reasonably expected to result in an increased
Tax liability to the other Party under this Agreement and (ii) to take any action reasonably requested by the other Party that would reasonably be expected to result in a Tax benefit or avoid a Tax detriment to such other Party; provided, in
either such case, that the taking or refraining to take such action does not result in any additional cost not fully compensated for by the other Party or any other adverse effect to such Party. The Parties hereby acknowledge that the preceding
sentence is not intended to limit, and therefore shall not apply to, the rights of the parties with respect to matters otherwise covered by this Agreement. 
 (f) For the avoidance of doubt, notwithstanding anything in this Agreement to the contrary (including, but not limited to, Section 7.14), KBR will be responsible for any Taxes of a member of the Halliburton Group
arising from the change of Control of KBR even if (i) Halliburton or KBR, (ii) one or more officers or directors acting on behalf of Halliburton or KBR, or (iii) another person or persons with the implicit or explicit permission of
one or more officers or directors of Halliburton or KBR held discussions with third parties for the sale of the stock of KBR prior to the Distribution. 
 (g) For the avoidance of doubt, KBR will not be responsible for any Taxes of a member of the Halliburton Group arising from the change of Control of Halliburton. 
 Section 7.04 Spinoff Indemnification. 
 (a) In General. Notwithstanding anything herein to the contrary, the provisions of this Article VII shall govern all matters among the Parties hereto related to an Indemnified Liability (as defined in Section 7.05 below) and an
Indemnity Amount (as defined in Section 7.07 below). 
 (b) Indemnification Obligation. If either Party breaches any warranty,
representation or covenant set forth in Sections 7.02, 7.03, 7.13 or 7.14 of this Agreement and the Distribution shall fail to qualify as a Tax Free Spinoff as a result of such breach, then such Party (the “Indemnifying Party”) shall
indemnify and hold harmless the other Party against any and all federal, state, local and foreign Taxes, interest, penalties and additions to Tax imposed upon or incurred by Halliburton, the Halliburton Group, KBR or the KBR Group, as the case may
be (each such party an “Indemnified Party”), as a result of the failure of the Distribution to qualify as a Tax Free Spinoff, to the extent provided herein. 
 Section 7.05 Indemnified Liability –Spinoff. For purposes of this Agreement, the term “Indemnified Liability” means any liability imposed upon or incurred by (1) Halliburton or any member of
the Halliburton Group, for which Halliburton or any other member of the Halliburton Group is indemnified and held harmless under Section 7.04(b), or (2) KBR or any member of the KBR Group, for which KBR or any other member of the KBR Group
is indemnified and held harmless under Section 7.04(b). 
 Section 7.06 Amount of Indemnified Liability for Income Taxes –
Spinoff. The amount of an Indemnified Liability for a federal, state, local or foreign Tax incurred by an Indemnified Party based on or determined with reference to income shall be deemed to be the amount of Tax computed by multiplying
(i) the Tax Authority’s highest effective Tax rate 

  

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 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 
applicable to the Indemnified Party for the character of the Tax Item subject to Tax as a result of the failure of the Distribution to qualify as a Tax Free
Spinoff for the taxable period in which the Distribution occurs, times (ii) the gain or income of the Indemnified Party which is subject to Tax in the Tax Authority’s jurisdiction as a result of such failure, and (iii) in the case of
a state, times the percentage representing the extent to which such gain or income is apportioned or allocated to such state; provided, however, that in the case of a state Tax determined as a percentage of Federal income Tax liability, the amount
of Indemnified Liability shall be deemed to be the amount of Tax computed by multiplying (x) that state’s highest effective rate applicable to the Indemnified Party for the character of the Tax Item subject to Tax as a result of the
failure of the Distribution to qualify as a Tax Free Spinoff for the taxable period in which the Distribution occurs, times (y) the gain or income of the Indemnified Party which is subject to federal income Tax as a result of such failure,
times (z) the percentage representing the extent to which the gain or income required to be recognized on the Distribution is apportioned to such state. 
 Section 7.07 Indemnity Amount – Spinoff. With respect to any Indemnified Liability, the amount which the Indemnifying Party shall pay to the Indemnified Party as indemnification (the “Indemnity
Amount”) shall be the sum of (i) the amount of the Indemnified Liability, as determined under Section 7.06, (ii) any penalties and interest imposed with respect to the Indemnified Liability and (iii) an amount such that when
the sum of the amounts set forth in clauses (i), (ii) and this clause (iii) of this Section 7.07 are reduced by all Taxes imposed as a result of the receipt of such sum, (taking into account any related current credits or deductions
available to the Indemnified Party or any of its Affiliates under any law or Tax Authority) the reduced amount is equal to the sum of the amounts set forth in clauses (i) and (ii) of this Section 7.07. 
 Section 7.08 Additional Indemnity Remedy – Spinoff. Each of the Parties recognizes that any failure by it to comply with its obligations
under this Article VII may result in additional Taxes which could cause irreparable harm to Halliburton, its shareholders, the Halliburton Group, and/or KBR and the KBR Group, and that such entities may be inadequately compensated by monetary
damages for such failure. Accordingly, if (A) (i) a Party shall fail to comply with any obligation under this Article VII which would be reasonably foreseeable to result in any additional Taxes and (ii) such Party shall fail to
provide the other Party with an opinion from a nationally recognized law firm, such opinion, upon timely review being approved by the other Party (which approval shall not be unreasonably withheld), that the failure to comply with such obligation
will not result in any increase in Taxes of Halliburton, its shareholders, any member of the Halliburton Group, on the one hand, or KBR or any member of the KBR Group, on the other hand, as the case may be, or if (B) it is probable in the
written legal opinion of a nationally recognized law firm that the failure by such Party to comply with any such obligation under this Article VII will result in an Indemnified Liability under this Agreement and the Indemnifying Party fails to
provide Adequate Assurances to the Indemnified Party of its ability to pay the Indemnity Amount under this Agreement, then Halliburton or KBR, as the case may be, shall be entitled to injunctive relief in the manner described in Section 8.03
hereof, in addition to all other remedies. 
 Section 7.09 Calculation of Indemnity Payments. Except as otherwise provided under this
Agreement, to the extent that the Indemnifying Party has an indemnification or payment 

  

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 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 
obligation to the Indemnified Party pursuant to this Agreement, the Indemnified Party shall provide the Indemnifying Party with its calculation of the amount
of such obligation. The documentation of such calculation shall provide sufficient detail to permit the Indemnifying Party to reasonably understand the calculation. All indemnification payments shall be made to the Indemnified Party or to the
appropriate Tax Authority as specified by the Indemnified Party within the time prescribed for payment in this Agreement, or if no period is prescribed, within thirty (30) days after delivery by the Indemnified Party to the Indemnifying Party
of written notice of an indemnification obligation, or if the Tax liability giving rise to an Indemnified Liability is contested pursuant to Section 6.01(c) of this Agreement, within thirty (30) days of a Final Determination with respect
to such Indemnified Liability. Any disputes with respect to indemnification payments shall be resolved in accordance with Section 8.11 below. 
 Section 7.10 Prompt Performance. All actions required to be taken by any Party under this Agreement shall be performed within the time prescribed for performance in this Agreement, or if no period is prescribed, such actions shall be
performed promptly. 
 Section 7.11 Interest. Payments pursuant to this Agreement that are not made within the period prescribed in
Section 7.09 shall bear interest (compounded daily) from and including the date immediately following the last date of such period through and including the date of payment at a rate equal to the Federal short-term rate or rates established
pursuant to Section 6621 of the Code for the period during which such payment is due but unpaid. 
 Section 7.12 Tax Records. The
Parties to this Agreement hereby agree to retain and provide on proper demand by any Tax Authority (subject to any applicable privileges) the books, records, documentation and other information relating to any Tax Return until the later of
(a) the expiration of the applicable statute of limitations (giving effect to any extension, waiver or mitigation thereof), (b) the date specified in an applicable records retention agreement entered into with the IRS, (c) a Final
Determination made with respect to such Tax Return and (d) the final resolution of any claim made under this Agreement for which such information is relevant. Notwithstanding the prior sentence, no Party may destroy any such records without the
approval of all other Parties to this Agreement as described in section 6.02 hereof. 
 Section 7.13 KBR Representations and
Covenants. KBR hereby represents, warrants and covenants that: 
 (a) KBR will review the information and representations made in the
Ruling Documents and in the Tax Opinion Documents that will be submitted to the IRS, and, KBR covenants that all of such information or representations that relate to KBR or any member of the KBR Group, or the business or operations of each, will be
true, correct and complete to KBR’s knowledge and will identify to Halliburton any information or representations that are incorrect or incomplete. 
 (b) KBR will not, and will cause each member of the KBR Group not to, take any action, or fail or omit to take any action, that would cause any of the information or representations made in the Ruling Documents and in
the Tax Opinion Documents that relate to KBR or any member of the KBR Group or the business or operations of each, to be untrue, 

  

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 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 
regardless of whether such information or representations are included in the Private Letter Ruling (or any supplemental ruling) or in the Tax Opinion (or
any Subsequent Opinion). 
 Section 7.14 Halliburton Representations and Covenants. Halliburton hereby represents, warrants, and
covenants that: 
 (a) Halliburton will review the information and representations made in the Ruling Documents and in the Tax Opinion
Documents that will be submitted to the IRS, and Halliburton covenants that all of such information or representations that relate to Halliburton or any member of the Halliburton Group, or the business or operations of each, will be true, correct
and complete to Halliburton’s knowledge and will identify to KBR any information or representations that are incorrect or incomplete. 
 (b) Halliburton will not, and will cause each member of the Halliburton Group not to, take any action, or fail or omit to take any action, that would cause any of the information or representations made in the Ruling Documents and in the
Tax Opinion Documents that relate to Halliburton or any member of the Halliburton Group, or the business or operations of each, to be untrue, regardless of whether such information or representations are included in the Private Letter Ruling (or any
supplemental ruling) or in the Tax Opinion (or any Subsequent Opinion). 
 Section 7.15 Continuing Covenants. Each Party agrees
(1) not to take any action reasonably expected to result in a new or changed Tax Item that is detrimental to the other Party and (2) to take any action reasonably requested by the other Party that would reasonably be expected to result in
a new or changed Tax Item that produces a benefit or avoids a detriment to such other Party; provided that such action does not result in any additional cost not fully compensated for by the requesting Party. The Parties hereby acknowledge that the
preceding sentence is not intended to limit, and therefore shall not apply to, the rights of the Parties with respect to matters otherwise covered by this Agreement. 
 ARTICLE VIII. 
 MISCELLANEOUS PROVISIONS 
 Section 8.01 Notice. Any notice, demand, claim, or other communication required or permitted to be given under this Agreement (a
“Notice”) shall be in writing and may be personally serviced, provided a receipt is obtained therefor, or may be sent by certified mail, return receipt requested, postage prepaid, or may be sent by telecopier, with acknowledgment of
receipt requested, to the either of the Parties at the following addresses (or at such other address as one Party may specify by notice to the other Party): 
  

			
	Halliburton at:	    	 Halliburton Company
 1401 McKinney, Suite
2400
 Houston, Texas 77010-4035
 Telecopier Number:
(713) 839-4816
 Attn: Director of Taxes

  

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 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

			
	KBR at:	    	 KBR, Inc.
 4100 Clinton Drive, P.O. Box 3

Houston, Texas 77001-0003
 Telecopier Number: (713) 753-3868
 Attn: Director of Taxes

		
	KBR Holdings at:	    	 KBR Holdings LLC
 4100 Clinton Drive, P.O. Box
3
 Houston, Texas 77001-0003
 Telecopier Number:
(713) 753-3868
 Attn: Director of Taxes

 A Notice which is delivered personally shall be deemed given as of the date specified on the
written receipt therefor. A Notice mailed as provided herein shall be deemed given on the third business day following the date so mailed. A Notice delivered by telecopier shall be deemed given upon the date it is transmitted. Notification of a
change of address may be given by either Party to the other in the manner provided in Section 8.01 hereof for providing a Notice. 
 Section 8.02 Required Payments. Unless otherwise provided in this Agreement, any payment of Tax required shall be due within thirty (30) days of a Final Determination of the amount of such Tax. 
 Section 8.03 Injunctions. The Parties acknowledge that irreparable damage would occur in the event that any of the provisions of this Agreement
were not performed in accordance with its specific terms or were otherwise breached. The Parties hereto shall be entitled to an injunction or injunctions to prevent breaches of the provisions of this Agreement and to enforce specifically the terms
and provisions of this Agreement and to enforce specifically the terms and provisions hereof in any court having jurisdiction, such remedy being in addition to any other remedy to which they may be entitled at law or in equity. 
 Section 8.04 Further Assurances. Subject to the provisions hereof, the Parties hereto shall make, execute, acknowledge and deliver such other
instruments and documents, and take all such other actions, as may be reasonably required in order to effectuate the purposes of this Agreement and to consummate the transactions contemplated hereby. Subject to the provisions hereof, each of the
Parties shall, in connection with entering into this Agreement, perform its obligations hereunder and take any and all actions relating hereto, comply with all applicable laws, regulations, orders, and decrees, obtain all required consents and
approvals and make all required filings with any governmental agency, other regulatory or administrative agency, commission or similar authority and promptly provide the other Party with all such information as such Party may reasonably request in
order to be able to comply with the provisions of this sentence. 
 Section 8.05 Parties in Interest. Except as herein otherwise
specifically provided, nothing in this Agreement expressed or implied is intended to confer any right or benefit upon any person, firm or corporation other than the Parties and their respective successors and permitted assigns. 
  

 - 40 - 

 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 Section 8.06 Setoff. All payments to be made under this Agreement shall be made without
setoff, counterclaim or withholding, all of which are expressly waived. 
 Section 8.07 Change of Law. If, due to any change in
applicable law or regulations or the interpretation thereof by any court of law or other governing body having jurisdiction subsequent to the date of this Agreement, performance of any provision of this Agreement or any transaction contemplated
thereby shall become impracticable or impossible, the Parties hereto shall use their best efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such provision. 
 Section 8.08 Termination and Survival. Notwithstanding anything in this Agreement to the contrary, this Agreement shall remain in effect and its
provisions shall survive for the full period of all applicable statutes of limitation (giving effect to any extension, waiver or mitigation thereof) or until otherwise agreed to in writing by Halliburton and KBR, or their successors. 
 Section 8.09 Amendments; No Waivers. 
 (a)
Any provision of this Agreement may be amended or waived if, and only if, such amendment or waiver is in writing and signed, in the case of an amendment, by Halliburton and KBR, or in the case of a waiver, by the Party against whom the waiver is to
be effective. 
 (b) No failure or delay by any Party in exercising any right, power or privilege hereunder shall operate as a waiver thereof
nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. 
 Section 8.10 Governing Law and Interpretation. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware applicable to agreements made and to be performed in the
State of Delaware. 
 Section 8.11 Resolution of Certain Disputes. Any disagreement between the Parties with respect to any matter
that is the subject of this Agreement, including, without limitation, any disagreement with respect to any calculation or other determinations by Halliburton hereunder, which is not resolved by mutual agreement of the Parties, shall be resolved by a
nationally recognized independent accounting firm chosen by and mutually acceptable to the Parties hereto (an “Accounting Referee”). Such Accounting Referee shall be chosen by the Parties within fifteen (15) business days from the
date on which one Party serves written notice on the other Party requesting the appointment of an Accounting Referee, provided that such notice specifically describes the calculations to be considered and resolved by the Accounting Referee. In the
event the Parties cannot agree on the selection of an Accounting Referee, then the Accounting Referee shall be any office or branch of the public accounting firm of Deloitte & Touche. The Accounting Referee shall resolve any such
disagreements as specified in the notice within thirty (30) days of appointment; provided, however, that no Party shall be required to deliver any document or take any other action pursuant to this Section 8.11 if it determines that such
action would result in the waiver of any legal privilege or any detriment to its business. Any resolution of an issue submitted to the Accounting Referee shall be final and binding on the 

  

 - 41 - 

 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 
Parties hereto without further recourse. The Parties shall share the costs and fees of the Accounting Referee equally. 
 Section 8.12 Confidentiality. Except to the extent required to protect a Party’s interests in a Tax Controversy, each Party shall hold and
shall cause its consultants and advisors to hold in strict confidence, unless compelled to disclose by judicial or administrative process or, in the opinion of its counsel, by other requirements of law, all information (other than any such
information relating solely to the business or affairs of such Party) concerning the other Party or its representatives pursuant to this Agreement (except to the extent that such information can be shown to have been (i) previously known by the
Party to which it was furnished, (ii) in the public domain through no fault of such Party, or (iii) later lawfully acquired from other sources by the Party to which it was furnished), and each Party shall not release or disclose such
information to any other person, except its auditors, attorneys, financial advisors, bankers and other consultants and advisors who shall be advised of the provisions of this Agreement. Each Party shall be deemed to have satisfied its obligation to
hold confidential information concerning or supplied by the other Party if it exercises the same care as it takes to preserve confidentiality for its own similar information. 
 Section 8.13 Costs, Expenses and Attorneys’ Fees. Except as expressly set forth in this Agreement, each Party shall bear its own costs and
expenses incurred pursuant to this Agreement. In the event either Party to this Agreement brings an action or proceeding for the breach or enforcement of this Agreement, the prevailing party in such action, proceeding, or appeal, whether or not such
action, proceeding or appeal proceeds to final judgment, shall be entitled to recover as an element of its costs, and not as damages, such reasonable attorneys’ fees as may be awarded in the action, proceeding or appeal in addition to whatever
other relief the prevailing party may be entitled. For purposes of Section 8.13 hereof, the “prevailing party” shall be the Party who is entitled to recover its costs; a Party not entitled to recover its costs shall not recover
attorneys’ fees. No sum for attorneys’ fees shall be counted in calculating the amount of the judgment for purposes of determining whether a Party is entitled to recover its costs or attorneys’ fees. 
 Section 8.14 Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, but all of
which together shall constitute one and the same instrument. 
 Section 8.15 Severability. The Parties hereby agree that, if any
provision of this Agreement should be adjudicated to be invalid or unenforceable, such provision shall be deemed deleted herefrom with respect, and only with respect, to the operation of such provision in the particular jurisdiction in which such
adjudication was made, and only to the extent of the invalidity, and any such invalidity or unenforceability in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All other remaining
provisions of this Agreement shall remain in full force and effect for the particular jurisdiction and all other jurisdictions. 
  

 - 42 - 

 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 Section 8.16 Entire Agreement; Termination of Prior Agreements. 
 (a) This Agreement contains the entire agreement between the Parties with respect to the subject matter hereof and supersedes all other agreements,
whether or not written, in respect of any Tax between or among any member or members of the Halliburton Group, on the one hand, and any member or members of the KBR Group, on the other hand. All such other agreements, including, but not limited to,
that certain Tax Sharing Agreement by and among Halliburton Company and its Affiliated Companies and KBR, Inc. and its Affiliated Companies, dated October 2, 2006, and that certain Tax Sharing Agreement by and among Halliburton Company and its
Affiliated Companies and KBR, Inc. and its Affiliated Companies, dated October 31, 2006, are hereby canceled and any rights or obligations existing thereunder are hereby fully and finally settled without any payment by any party thereto;
provided, however, that (i) that certain letter agreement regarding Tax indemnification for periods ending prior to January 1, 2001, attached as Exhibit C to this Agreement, shall be cancelled as of the date of this Agreement and any
rights or obligations existing thereunder are hereby fully and finally settled without any payment by any party thereto and (ii) that certain Amendment to the Amended and Restated Tax Sharing and Allocation Agreement, attached as Exhibit D to
this Agreement, shall remain in effect. 
 (b) Without limiting the foregoing, the Parties acknowledge and agree that in the event of any
conflict or inconsistency between the provisions of this Agreement and the provisions of the Master Separation Agreement or the Master Separation and Distribution Agreement (as applicable), the provisions of this Agreement shall take precedence and
to such extent shall be deemed to supersede such conflicting provisions under the Master Separation Agreement or the Master Separation and Distribution Agreement (as applicable). 
 Section 8.17 Assignment. This Agreement is being entered into by Halliburton and KBR on behalf of themselves and each member of the Halliburton
Group and KBR Group, respectively. This Agreement shall constitute a direct obligation of each such member and shall be deemed to have been readopted and affirmed on behalf of any corporation which becomes a member of the Halliburton Group or KBR
Group in the future. Halliburton and KBR hereby guarantee the performance of all actions, agreements and obligations provided for under this Agreement of each member of the Halliburton Group and KBR Group, respectively. Halliburton and KBR shall,
upon the written request of the other, cause any of their respective group members to formally execute this Agreement. This Agreement shall be binding upon, and shall inure to the benefit of, the successors, assigns and persons controlling any of
the corporations bound hereby for so long as such successors, assigns or controlling persons are members of the Halliburton Group or the KBR Group or their successors and assigns. 
 Section 8.18 Fair Meaning. This Agreement shall be construed in accordance with its fair meaning and shall not be construed strictly against the
drafter. 
 Section 8.19 Commencement. This Agreement shall commence on the date of execution indicated below. 
  

 - 43 - 

 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

 Section 8.20 Titles and Headings. Titles and headings to sections herein are inserted for the
convenience of reference only and are not intended to be a part or to affect the meaning or interpretation of this Agreement. 
 Section 8.21
Construction. In this Agreement, unless the context otherwise requires the terms “herein,” “hereof,” and “hereunder” refer to this Agreement. 
 Section 8.22 Termination. This Agreement may be terminated at any time prior to the date of the IPO, without the approval of KBR, by and in the
sole discretion of the Halliburton Board of Directors. In the event of such termination, no Party shall have any liability to the other Party from or for the terminated Agreement, except that expenses incurred in connection with the preparation of
this Agreement shall be paid as provided in Section 8.13 hereof; provided that any agreement that remained in force prior to the Deconsolidation Date, as described in Section 8.16 hereof, shall remain in force upon a termination of this
Agreement pursuant to this Section 8.22. 
 SPACE INTENTIONALLY LEFT BLANK 
  

 - 44 - 

 Tax Sharing Agreement 
 Between Halliburton Co. and KBR, Inc. 
  

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

			
	Halliburton Company
		
	By:	 	/s/ C. Christopher Gaut
	Name:	 	C. Christopher Gaut
	Title:	 	Executive Vice President and Chief Financial Officer
	
	KBR, Inc.
		
	By:	 	/s/ William P. Utt
	Name:	 	William P. Utt
	Title:	 	President & CEO
	
	KBR Holdings LLC
		
	By:	 	/s/ Andrew D. Farley
	Name:	 	Andrew D. Farley
	Title:	 	Senior VP and General Counsel

  

 - 45 -Registration Rights Agreement

 EXHIBIT 10.3 
 REGISTRATION RIGHTS AGREEMENT 
 REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as
of November 20, 2006, between Halliburton Company, a Delaware corporation (“Halliburton”), and KBR, Inc., a Delaware corporation (the “Company”). 
 WHEREAS, Kellogg Energy Services, Inc., a Delaware corporation and a wholly owned subsidiary of Halliburton (“KESI”), owns all of the
capital stock of the Company outstanding as of the execution of this Agreement; and 
 WHEREAS, as provided in a Master Separation Agreement
dated the date hereof between Halliburton and the Company (the “Separation Agreement”), the Company has determined to offer to the public (the “Public Offering”) shares of the Company’s Common Stock (as defined
below); and 
 WHEREAS, in connection with the Public Offering, the Company has, among other things, agreed to grant to Halliburton and any
of its Affiliates (other than the Company or any of its Subsidiaries) who from time to time own Registrable Securities (including without limitation KESI) certain registration rights applicable to Registrable Securities (as defined below) held by
Halliburton and such Affiliates, and the parties hereto desire to enter into this Agreement to set forth the terms of such registration rights; and 
 WHEREAS, the execution and delivery of this Agreement by the parties hereto is a condition to the obligations of each of Halliburton and the Company under the Separation Agreement; and 
 NOW, THEREFORE, upon the premises and based on the mutual promises herein contained, and for other good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, the parties agree as follows: 
 1. Certain Definitions. As used in this Agreement, the
following initially capitalized terms shall have the following meanings: 
 (a) “Affiliate” means, with
respect to any person, any other person who, directly or indirectly, is in control of, is controlled by or is under common control with the former person; and “control” (including the terms “controlling,” “controlled
by,” and “under common control with”) means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by contract
or otherwise. 
 (b) “Common Stock” means the Company’s common stock, par value $0.001 per share.

 (c) “Company Securities” has the meaning set forth in Section 3 hereof. 
 (d) “Exchangeable Securities” has the meaning set forth in Section 6 hereof. 
  

 -1- 

 (e) “Fair Market Value” means, with respect to any security, (i) if
the security is listed on a national securities exchange or authorized for quotation on a national market quotation system, the closing price, regular way, of the security on such exchange or quotation system, as the case may be, or if no such
reported sale of the security shall have occurred on such date, on the next preceding date on which there was such a reported sale, or (ii) if the security is not listed for trading on a national securities exchange or authorized for quotation
on a national market quotation system, the average of the closing bid and asked prices as reported by the National Association of Securities Dealers Automated Quotation System or such other reputable entity or system engaged in the regular reporting
of securities prices and on which such prices for such security are reported or, if no such prices shall have been reported for such date, on the next preceding date for which such prices were so reported, or (iii) if the security is not
publicly traded, the fair market value of such security as determined by a nationally recognized investment banking or appraisal firm mutually acceptable to the Company and the Holders, the fair market value of whose Registrable Securities is to be
determined. 
 (f) “Holder” means (i) Halliburton and any Affiliate of Halliburton (other than the
Company or any of its Subsidiaries) who from time to time owns Registrable Securities (including without limitation KESI) or (ii) any Permitted Transferee and any Affiliate of such Permitted Transferee who from time to time owns Registrable
Securities. 
 (g) “Initiating Holders” has the meaning set forth in Section 3(b) hereof. 
 (h) “Initiating Holder Securities” has the meaning set forth in Section 3(b) hereof. 
 (i) “Maximum Marketable Amount” means, when used in connection with an underwritten offering, the aggregate number or
principal amount of securities which, in the opinion of the managing underwriter for such offering, can be sold in such offering without materially and adversely affecting the offering. 
 (j) “Other Holders” has the meaning set forth in Section 3(b) hereof. 
 (k) “Other Securities” has the meaning set forth in Section 3 hereof. 
 (l) “Permitted Transferee” has the meaning set forth in Section 11 hereof. 
 (m) “Person” means any individual, partnership, corporation, limited liability company, business trust, joint stock
company, trust, unincorporated association, joint venture, or other entity of whatever nature. 
 (n) “Registrable
After-Acquired Securities” means any securities of the Company acquired by a Holder after the execution of this Agreement. 
 (o) “Registrable Securities” means any of the following held by a Holder (i) the shares of Common Stock owned as of the execution of this Agreement by KESI, (ii) all Registrable After-Acquired Securities,
(iii) any stock or other securities into which or for which such Common Stock or Registrable After-Acquired Securities may hereafter be changed, converted or exchanged, and (iv) any other securities issued to holders of such Common Stock
or 

  

 -2- 

 
Registrable After-Acquired Securities (or such stock or other securities into which or for which such Common Stock or Registrable After-Acquired Securities
are so changed, converted or exchanged) upon any reclassification, share combination, share subdivision, share dividend, merger, consolidation or similar transaction or event, provided that any such securities shall cease to be Registrable
Securities when such securities are sold in any manner to a person who is not a Permitted Transferee or after the registration rights with respect to the Holder thereof has expired pursuant to Section 12(g). 
 (p) “Registration Expenses” means all out-of-pocket expenses incurred in connection with any registration of Registrable
Securities pursuant to this Agreement (other than Selling Expenses), including, without limitation, the following; (i) SEC filing fees; (ii) all fees, disbursements and expenses of the Company’s counsel(s) and accountants in
connection with the registration of the Registrable Securities to be disposed of and the reasonable fees, disbursements and expenses of counsel, other than the Company’s counsel, selected by the Holders of the Registrable Securities to be
disposed of; (iii) all expenses in connection with the preparation, printing and filing of the registration statement, any preliminary prospectus or final prospectus and amendments and supplements thereto and the mailing and delivering of
copies thereof to any Holders, underwriters and dealers and all expenses incidental to delivery of the Registrable Securities; (iv) the cost of printing or producing any underwriting agreement, agreement among underwriters, agreement between
syndicates, selling agreement, blue sky or legal investment memorandum or other document in connection with the offering, sale or delivery of the Registrable Securities to be disposed of; (v) all expenses in connection with the qualification of
the Registrable Securities to be disposed of for offering and sale under state securities laws, including the fees and disbursements of counsel for the underwriters in connection with such qualification and the preparation of any blue sky and legal
investments surveys; (vi) the filing fees incident to securing any required review by the National Association of Securities Dealers, Inc. of the terms of the sale of the Registrable Securities to be disposed of; (vii) transfer
agents’, depositaries’ and registrars’ fees and the fees of any other agent appointed in connection with such offering; (viii) all security engraving and security printing expenses, (ix) all fees and expenses payable in
connection with the listing of the Registrable Securities on any securities exchange or inter-dealer quotation system; (x) all expenses incurred in connection with “roadshow” presentations and holding meetings with potential investors
to facilitate the distribution and sale of Registrable Securities; and (xi) any one-time payment for directors and officers insurance directly related to such offering, provided the insurer provides a separate statement for such payment.

 (q) “Rule 144” means Rule 144 promulgated under the Securities Act, or any successor rule to similar
effect. 
 (r) “SEC” means the United States Securities and Exchange Commission. 
 (s) “Securities Act” means the Securities Act of 1933, as amended, or any successor statute. 
 (t) “Selling Expenses” means all underwriting discounts and commissions, selling concessions and stock transfer taxes
applicable to the sale by the Holders of Registrable Securities pursuant to this Agreement. 
  

 -3- 

 (u) “Selling Holder” has the meaning set forth in Section 5(e)
hereof. 
 2. Demand Registration. 
 (a) At any time prior to such time as the rights under this Section 2 terminate with respect to a Holder as provided in Section 2(a)(iii) hereof, upon written notice from such Holder in the manner set forth
in Section 12(i) hereof requesting that the Company effect the registration under the Securities Act of any or all of the Registrable Securities held by such Holder or any of its Affiliates, which notice shall specify the intended method or
methods of disposition of such Registrable Securities, the Company shall use its best efforts to effect, in the manner set forth in Section 5, the registration under the Securities Act of such Registrable Securities for disposition in
accordance with the intended method or methods of disposition stated in such request (including (1) in an offering on a delayed or continuous basis under Rule 415 (or any successor rule of similar effect) promulgated under the Securities Act
and accordingly requiring the filing of a “shelf” registration statement and/or (2) sales for cash or dispositions upon exchange or conversion of securities or dispositions for any form of consideration or no consideration),
provided that: 
 (i) if, while a registration request is pending pursuant to this Section 2(a), the Company
determines, following consultation with and receiving advice from its legal counsel, that the filing of a registration statement would require the disclosure of material information that the Company has a bona fide business purpose for preserving as
confidential and the disclosure of which the Company determines reasonably and in good faith would have a material adverse effect on the Company, the Company shall not be required to effect a registration pursuant to this Section 2(a) until the
earlier of (A) the date upon which such material information is otherwise disclosed to the public or ceases to be material and (B) 30 days after the Company makes such determination, provided, however, that the Company shall
not be permitted to delay a requested registration in reliance on this clause (i) more than twice in any 12-month period; 
 (ii) the Company shall not be obligated to file a registration statement relating to a registration request pursuant to this Section 2: (A) prior to 180 days following the closing of the Public Offering, or (B) within a
period of 60 days after the effective date of any other registration statement of the Company demanded pursuant to this Section 2(a); and 
 (iii) the Company shall not be obligated to file a registration statement relating to a registration request pursuant to this Section 2: (A) in the case of a registration request by Halliburton or any of its
Affiliates, on more than three occasions after such time as Halliburton and its Affiliates collectively own less than a majority of the voting power of the then outstanding shares of Common Stock (it being acknowledged that so long as Halliburton
and its Affiliates collectively own a majority of the voting power of the then outstanding shares of Common Stock, there shall be no limit to the number of occasions on which Halliburton or its Affiliates may exercise their rights under this
Section 2), or (B) in the case of a registration request by a Permitted Transferee or any of its 

  

 -4- 

 
Affiliates, on more than the number of occasions permitted such Holder in accordance with Section 11 hereof (it being acknowledged that (1) the
exercise by such Permitted Transferee and its Affiliates of such rights shall not limit the number of occasions on which Halliburton and its Affiliates may exercise their rights under this Section 2 and (2) so long as such Permitted
Transferee and its Affiliates collectively own a majority of the then outstanding shares of Common Stock, there shall be no limit to the number of occasions on which such Permitted Transferee or its Affiliates may exercise their rights under this
Section 2). 
 (b) Notwithstanding any other provision of this Agreement to the contrary, a registration requested by a
Holder pursuant to this Section 2 shall not be deemed to have been effected (and, therefore, not requested for purposes of Section 2(a)), (i) unless the registration statement filed in connection therewith has become effective,
(ii) if after such registration statement has become effective, it becomes subject to any stop order, or there is issued an injunction or other order or decree of the SEC or other governmental agency or court for any reason other than a
misrepresentation or an omission by such Holder, which injunction, order or decree prohibits or otherwise materially and adversely affects the offer and sale of the Registrable Securities so registered prior to the completion of the distribution
thereof in accordance with the plan of distribution set forth in the registration statement or (iii) if the conditions to closing specified in the purchase agreement or underwriting agreement entered into in connection with such registration
are not satisfied other than by reason of some act, misrepresentation or omission by a Holder and are not waived by the purchasers or underwriters. 
 (c) In the event that any registration pursuant to this Section 2 shall involve, in whole or in part, an underwritten offering, Holders owning at least 50.1% of the Fair Market Value of the Registrable Securities
to be registered in connection with such offering shall have the right to designate an underwriter reasonably satisfactory to the Company as the lead managing underwriter of such underwritten offering. 
 (d) The Company shall have the right to cause the registration of additional securities for sale for the account of any person (including
the Company) in any registration of Registrable Securities requested by any Holder pursuant to Section 2(a); provided, however, that if the managing underwriter or other independent marketing agent for such offering (if any)
determines that, in its opinion, the additional securities proposed to be sold will materially and adversely affect the offering and sale of the Registrable Securities to be registered in accordance with the intended method or methods of disposition
then contemplated by such Holder, only the number or principal amount of such additional securities, if any (in excess of the number or principal amount of Registrable Securities), which, in the opinion of such underwriter or agent, can be so sold
without materially and adversely affecting such offering shall be included in such registration. The rights of a Holder to cause the registration of additional Registrable Securities held by such Holder in any registration of Registrable Securities
requested by another Holder pursuant to Section 2(a) shall be governed by the agreement of the Holders with respect thereto as provided in Section 11(a). 
 (e) The Company shall not be obligated to file a registration statement relating to a registration request by a Holder pursuant to this
Section 2 from and after such time as such Holder (together with any Affiliates of such Holder) first owns Registrable Securities 

  

 -5- 

 
representing (assuming for this purpose the conversion, exchange or exercise of all Registrable Securities then owned by such Holder that are convertible
into or exercisable or exchangeable for Common Stock of the Company) less than 10% of the then issued and outstanding Common Stock of the Company. 
 3. Piggyback Registration. If the Company at any time proposes to register any of its Common Stock or any of its other securities (such Common Stock and other securities collectively, “Other Securities”) under the
Securities Act, whether or not for sale for its own account, in a manner which would permit registration of Registrable Securities under the Securities Act, it will at such time give prompt written notice to each Holder of its intention to do so at
least 20 business days prior to the anticipated filing date of the registration statement relating to such registration. Such notice shall offer each such Holder the opportunity to include in such registration statement such number of Registrable
Securities as each such Holder may request. Upon the written request of any such Holder made within 15 business days after the receipt of the Company’s notice (which request shall specify the number of Registrable Securities intended to be
disposed of and the intended method of disposition thereof), the Company shall effect, in the manner set forth in Section 5, in connection with the registration of the Other Securities, the registration under the Securities Act of all
Registrable Securities which the Company has been so requested to register, to the extent required to permit the disposition (in accordance with such intended methods thereof) of the Registrable Securities so requested to be registered,
provided that: 
 (a) if at any time after giving written notice of its intention to register any securities and prior
to the effective date of such registration, the Company shall determine for any reason not to register or to delay registration of such securities, the Company may, at its election, give written notice of such determination to the Holders and,
thereupon, (A) in the case of a determination not to register, the Company shall be relieved of its obligation to register any Registrable Securities in connection with such registration and (B) in the case of a determination to delay such
registration, the Company shall be permitted to delay registration of any Registrable Securities requested to be included in such registration for the same period as the delay in registering such Other Securities, but, in either such case, without
prejudice to the rights of the Holders under Section 2; 
 (b) (i) if the registration referred to in the first sentence
of this Section 3 is to be a registration in connection with an underwritten offering on behalf of any of the Company, holders of securities (other than Registrable Securities) of the Company (“Other Holders”) or Holders of
Registrable Securities, and the managing underwriter for such offering advises the Company in writing that, in such firm’s opinion, such offering would be materially and adversely affected by the inclusion therein of Registrable Securities
requested to be included therein pursuant to this Section 3 because such Registrable Securities are not of the same type, class or series as the securities to be offered and sold in such offering on behalf of the Company, the Other Holders
and/or the Holders of Registrable Securities, the Company may exclude all such Registrable Securities requested to be included therein pursuant to this Section 3 from such offering. 
 (ii) if the registration referred to in the first sentence of this Section 3 is to be a registration in connection with an
underwritten primary offering on behalf of the Company, and 

  

 -6- 

 
the managing underwriter for such offering advises the Company in writing that, in such firm’s opinion, such offering would be materially and adversely
affected by the inclusion therein of the Holder’s Registrable Securities requested to be included therein pursuant to this Section 3 because the number or principal amount of such Registrable Securities, considered together with the number
or principal amount of securities proposed to be offered by the Company, exceeds the Maximum Marketable Amount, the Company shall include in such registration (1) first, the lesser of (A) all securities the Company proposes to sell for its
own account (“Company Securities”) and (B) the number or principal amount of Company Securities that represents 80% of the total number or principal amount of the Maximum Marketable Amount (or the fair market value of the
Maximum Marketable Amount if such Registrable Securities are not of the same type, class or series as the Company Securities) included in such registration; (2) second, the lesser of (A) the number or principal amount of Registrable
Securities requested to be included therein pursuant to this Section 3 and (B) the number or principal amount of such Registrable Securities that represents 20% of the total number or principal amount of the Maximum Marketable Amount (or
the fair market value of the Maximum Marketable Amount if such Registrable Securities are not of the same type, class or series as the Company Securities) included in such registration (in either case, allocated among the Holders in accordance with
the agreement of the Holders with respect thereto as provided in Section 11(a)) ; and (3) third, the number or principal amount of securities, if any, requested to be included therein by Other Holders (in excess of the number or principal
amount of Company Securities and such Registrable Securities) which, in the opinion of such underwriter, can be so sold without materially and adversely affecting such offering (allocated among such Other Holders on the basis of the number or
principal amount (or the fair market value of such securities if the securities are not of the same type, class or series) of the securities requested to be included therein by each such Other Holder); and 
 (iii) if the registration referred to in the first sentence of this Section 3 is to be a registration in connection with an
underwritten secondary offering on behalf of Other Holders made pursuant to demand registration rights granted by the Company to such Other Holders or on behalf of a Holder of Registrable Securities made pursuant to Section 2 of this Agreement
(the “Initiating Holders”), and the managing underwriter for such offering advises the Company in writing that, in such firm’s opinion, such offering would be materially and adversely affected by the inclusion therein of the
Holder’s Registrable Securities requested to be included therein pursuant to this Section 3 because the number or principal amount of such Registrable Securities, considered together with the number or principal amount of securities
proposed to be offered by the Initiating Holders, exceeds the Maximum Marketable Amount, the Company shall include in such registration; (1) first, all securities any such Initiating Holder proposes to sell for its own account (the
“Initiating Holder Securities”); (2) second, the number or principal amount of such Registrable Securities (in excess of the number or principal amount of Initiating Holder Securities) which, in the opinion of such underwriter,
can be sold without materially and adversely affecting such offering (allocated among the Holders in accordance with the agreement of the Holders with respect thereto as provided in Section 11(a)); and (3) third, the number or principal
amount of securities, if any, requested to be included therein by Other Holders to which clause (1) does not apply or the Company (in excess of the number or principal amount of Initiating Holder Securities and such Registrable Securities)
which, in the opinion of such underwriter, can be so sold without materially and adversely affecting such offering (allocated among such Other Holders and the Company on the basis of the number or principal amount (or 

  

 -7- 

 
the fair market value of such securities if the securities are not of the same type, class or series) of the securities requested to be included therein by
each such Other Holder or the Company; and 
 (c) the Company shall not be required to effect any registration of Registrable
Securities under this Section 3 incidental to (i) the registration of any of its securities in connection with stock option or other executive or employee benefit or compensation plans of the Company, or (ii) the registration of any
of its equity securities to be issued solely in connection with the Company’s acquisition of an entity or business in a transaction governed by Rule 145 promulgated under the Securities Act; and 
 (d) no registration of Registrable Securities effected under this Section 3 shall relieve the Company of its obligation to effect any
registration of Registrable Securities required of the Company pursuant to Section 2 hereof. 
 4. Expenses. The Company agrees
to pay all Registration Expenses with respect to a registration pursuant to this Agreement. All internal expenses of the Company or a Holder in connection with any offering pursuant to this Agreement, including, without limitation, the salaries and
expenses of officers and employees, including in-house attorneys, shall be borne by the party incurring them. All Selling Expenses of the Holders participating in any registration pursuant to this Agreement shall be borne by such Holders pro
rata based on each Holder’s number of Registrable Securities included in such registration. 
 5. Registration and
Qualification. If and whenever the Company is required to use its best efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Section 2 or 3 hereof, the Company, shall: 
 (a) prepare and file a registration statement under the Securities Act relating to the Registrable Securities to be offered as soon as
practicable, but in no event later than 30 days (45 days if the applicable registration form is other than Form S-3) after the date notice is given, and use its best efforts to cause the same to become effective as soon as practicable thereafter,
but in no event later than 75 days after the date notice is given (90 days if the applicable registration form is other than Form S-3); provided that, a reasonable time before filing a registration statement or prospectus, or any amendments
or supplements thereto (other than reports required to be filed by it under the Exchange Act and the rules and regulations adopted by the SEC thereunder), the Company will furnish to the Holders and their counsel and other representatives (including
underwriters) for review and comment, copies of all documents proposed to be filed and provided further, that if Halliburton so requests (i) it and its counsel and other representatives (including underwriters) may participate in
the drafting and preparation of such registration statement and prospectus and (ii) such information as it believes may be beneficial to be included in the registration statement and prospectus for marketing purposes shall be included therein
so long as disclosure of such information (A) is in compliance with applicable law and (B) does not competitively harm the Company; 
 (b) prepare and file with the SEC such amendments and supplements to such registration statement and the prospectus used in connection therewith as may be necessary to keep such registration statement effective with
respect to the disposition of all Registrable Securities included therein and to otherwise comply with the provisions of the Securities Act 

  

 -8- 

 
with respect to the disposition of all Registrable Securities included therein until the earlier of (i) such time as all of such Registrable Securities
have been disposed of in accordance with the intended methods of disposition set forth in such registration statement and (ii) the expiration of nine months after such registration statement becomes effective; provided, that such
nine-month period shall be extended for such number of days that equals the number of days elapsing from (A) the date the written notice contemplated by paragraph (f) below is given by the Company to (B) the date on which the Company
delivers to the Holders the supplement or amendment contemplated by paragraph (f) below; and provided further, that in the case of a registration to permit the exercise or exchange of Exchangeable Securities for, or the conversion of
Exchangeable Securities into, Registrable Securities, the time limitation contained in clause (ii) above shall be disregarded to the extent that, in the written opinion of Halliburton’s counsel delivered to the Company, such Registrable
Securities are required to be covered by an effective registration statement under the Securities Act at the time such Registrable Securities are issued upon exercise, exchange or conversion of Registrable Securities in order for such Registrable
Securities to be freely tradeable by any person who is not an Affiliate of the Company or Halliburton; 
 (c) furnish to the
Holders and to any underwriter of such Registrable Securities such number of conformed copies of such registration statement and of each amendment thereto (in each case including all exhibits), such number of copies of the prospectus included in
such registration statement (including each preliminary prospectus and any summary prospectus) and of each supplement thereto, in conformity with the requirements of the Securities Act, and such other documents, as the Holders or such underwriter
may reasonably request in order to facilitate the public sale of the Registrable Securities, and a copy of any and all transmittal letters or other correspondence to, or received from, the SEC or any other governmental agency or self-regulatory body
or other body having jurisdiction (including any domestic or foreign securities exchange) relating to such offering; 
 (d)
use its best efforts to register or qualify all Registrable Securities covered by such registration statement under the securities or blue sky laws of such jurisdictions (domestic or foreign) as the Holders or any underwriter of such Registrable
Securities shall request, and use its best efforts to obtain all appropriate registrations, permits and consents required in connection therewith, and do any and all other acts and things which may be necessary or advisable to enable the Holders or
any such underwriter to consummate the disposition in such jurisdictions of its Registrable Securities covered by such registration statement; provided that the Company shall not for any such purpose be required to register or qualify
generally to do business as a foreign corporation in any jurisdiction wherein it is not so qualified, or to subject itself to taxation in any such jurisdiction, or to consent to general service of process in any such jurisdiction; 
 (e) (i) use its best efforts to furnish an opinion of counsel for the Company addressed to the underwriters dated the date of the closing
under the underwriting agreement (if any) (or if such offering is not underwritten, dated the effective date of the registration statement), and (ii) use its best efforts to furnish a “cold comfort” letter addressed to the
underwriters and each Holder of Registrable Securities included in such registration (each a “Selling Holder”), if permissible under applicable accounting practices, and signed by the independent public accountants who have audited
the Company’s financial statements included 

  

 -9- 

 
in such registration statement, in each such case covering substantially the same matters with respect to such registration statement (and the prospectus
included therein) as are customarily covered in opinions of issuer’s counsel and in accountants’ letters delivered to underwriters in underwritten public offerings of securities and such other matters as the Selling Holders may reasonably
request and, in the case of such accountants’ letter, with respect to events subsequent to the date of such financial statements; 
 (f) immediately notify the Selling Holders in writing (i) at any time when a prospectus relating to a registration pursuant to Section 2 or 3 hereof is required to be delivered under the Securities Act of
the happening of any event as a result of which the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary
to make the statements therein, in light of the circumstances under which they were made, not misleading, (ii) of any request by the SEC or any other regulatory body or other body having jurisdiction for any amendment of or supplement to any
registration statement or other document relating to such offering, and (iii) of the issuance by the SEC of any stop order suspending the effectiveness of any registration statement relating to such offering or the initiation of proceedings for
that purpose and in any such case (i), (ii) or (iii) at the request of the Selling Holders, promptly prepare and furnish to the Selling Holders a reasonable number of copies of a supplement to or an amendment of such prospectus as may be
necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make
the statements therein, in light of the circumstances under which they are made, not misleading or to remove such stop order; 
 (g) use its best efforts to list all such Registrable Securities covered by such registration on each securities exchange and inter-dealer quotation system on which the Common Stock is then listed; 
 (h) use its best efforts to list all Registrable Securities covered by such registration statement on any securities exchange or
inter-dealer quotation system (in each case, domestic or foreign) not described in paragraph (g) above as the Selling Holders or any underwriter of such Registrable Securities shall reasonably request, and use its best efforts to obtain all
appropriate registrations, permits and consents required in connection therewith, and to do any and all other acts and things which may be necessary or advisable to effect such listing; 
 (i) to the extent reasonably requested by the lead or managing underwriters in connection with any underwritten offering, send appropriate
officers of the Company to attend any “road shows” scheduled in connection with any such registration; 
 (j)
furnish for delivery in connection with the closing of any offering of Registrable Securities unlegended certificates representing ownership of the Registrable Securities being sold in such denominations as shall be requested by the Selling Holders
or the underwriters; and 
 (k) use its best efforts to make available to its security holders, as soon as reasonably
practicable (but not more than eighteen months) after the effective date of the 

  

 -10- 

 
registration statement, an earnings statement which shall satisfy the provisions of Section 11(a) of the Securities Act and the rules and regulations
promulgated thereunder. 
 The Company may require each Selling Holder to furnish the Company with such information regarding
such Selling Holder and pertinent to the disclosure requirements relating to the registration and the distribution of such securities as the Company may from time to time reasonably request. 
 6. Exchangeable Securities; Spin-off or Exchange Offer. Halliburton shall be entitled, if it intends to offer any options, rights, warrants, debt
securities, preference shares or other securities issued or to be issued by it or any other person that are exercisable or exchangeable for or convertible into any Registrable Securities (“Exchangeable Securities”), to register the
Registrable Securities underlying such options, rights, warrants, debt securities, preference shares or other securities pursuant to (and subject to the limitations contained in) Section 2 of this Agreement. Halliburton shall also be entitled,
if it intends to distribute Registrable Securities to the holders of its common stock or other securities (including any distribution in exchange for Halliburton common stock or other securities), by means of a distribution or exchange offer, to
register such Registrable Securities pursuant to (and subject to the limitations contained in) Section 2 of this Agreement. 
 7.
Underwriting; Due Diligence. 
 (a) If requested by the underwriters for any underwritten offering of Registrable
Securities pursuant to a registration requested under this Agreement, the Company shall enter into an underwriting agreement, with such underwriters for such offering, such agreement to contain such representations and warranties by the Company and
such other terms and provisions as are customarily contained in underwriting agreements with respect to secondary distributions, including, without limitation, indemnities and contribution substantially to the effect and to the extent provided in
Section 8 hereof and the provision of opinions of counsel and accountants’ letters to the effect and to the extent provided in Section 5(e) hereof. The Selling Holders on whose behalf the Registrable Securities are to be distributed
by such underwriters shall be parties to any such underwriting agreement and the representations and warranties by, and the other agreements on the part of, the Company to and for the benefit of such underwriters, shall also be made to and for the
benefit of such Selling Holders. Such underwriting agreement shall also contain such representations and warranties by the Selling Holders on whose behalf the Registrable Securities are to be distributed as are customarily contained in underwriting
agreements with respect to secondary distributions. The Selling Holders may require that any additional securities included in an offering proposed by a Holder be included on the same terms and conditions as the Registrable Securities that are
included therein. 
 (b) In the event that any registration pursuant to Section 3 shall involve, in whole or in part, an
underwritten offering, the Company may require the Registrable Securities requested to be registered pursuant to Section 3 to be included in such underwritten offering on the same terms and conditions as shall be applicable to the other
securities being sold through underwriters under such registration. If requested by the underwriters for such underwritten offering, the Selling Holders on whose behalf the Registrable Securities are to be distributed 

  

 -11- 

 
shall enter into an underwriting agreement with such underwriters, such agreement to contain such representations and warranties by the Selling Holders and
such other terms and provisions as are customarily contained in underwriting agreements with respect to secondary distributions, including, without limitation, indemnities and contribution substantially to the effect and to the extent provided in
Section 8 hereof. Such underwriting agreement shall also contain such representations and warranties by the Company and such other person or entity for whose account securities are being sold in such offering as are customarily contained in
underwriting agreements with respect to secondary distributions. 
 (c) In connection with the preparation and filing of each
registration statement registering Registrable Securities under the Securities Act, the Company shall give the Holders of such Registrable Securities and the Underwriters, if any, and their respective counsel and accountants, such reasonable and
customary access to its books and records and such opportunities to discuss the business of the Company with its officers and the independent public accountants who have certified the Company’s financial statements as shall be necessary, in the
opinion of such Holders and such underwriters or their respective counsel, to conduct a reasonable investigation within the meaning of the Securities Act. 
 8. Indemnification and Contribution. 
 (a) In the case of each offering of Registrable
Securities made pursuant to this Agreement, the Company agrees to indemnify and hold harmless each Holder, its officers and directors, each underwriter of Registrable Securities so offered and each person, if any, who controls any of the foregoing
persons within the meaning of the Securities Act, from and against any and all claims, liabilities, losses, damages, expenses and judgments, joint or several, to which they or any of them may become subject, under the Securities Act or otherwise,
including any amount paid in settlement of any litigation commenced or threatened, and shall promptly reimburse them, as and when incurred, for any reasonable legal or other expenses incurred by them in connection with investigating any claims and
defending any actions, insofar as such losses, claims, damages, liabilities or actions shall arise out of, or shall be based upon, any untrue statement or alleged untrue statement of a material fact contained in the registration statement (or in any
preliminary or final prospectus included therein) or any amendment or supplement thereto, or in any document incorporated by reference therein, or any omission or alleged omission to state therein a material fact required to be stated therein or
necessary to make the statements therein not misleading; provided, however, that the Company shall not be liable to a particular Holder in any such case to the extent that any such loss, claim, damage, liability or action arises out
of, or is based upon, any untrue statement or alleged untrue statement, or any omission, if such statement or omission shall have been made in reliance upon and in conformity with information relating to such Holder furnished to the Company in
writing by or on behalf of such Holder and identified in such writing as being specifically for use in the preparation of the registration statement (or in any preliminary or final prospectus included therein) or any amendment or supplement thereto.
Such indemnity shall remain in full force and affect regardless of any investigation made by or on behalf of a Holder and shall survive the transfer of such securities. The foregoing indemnity agreement is in addition to any liability which the
Company may otherwise have to each Holder, any of such Holder’s directors or officers, underwriters of the Registrable Securities or any controlling person of the foregoing; provided, further, that this indemnity does not apply in
favor of any underwriter or person controlling an 

  

 -12- 

 
underwriter (or if a Selling Holder offers Registrable Securities directly without an underwriter, the Selling Holder) with respect to any loss, liability,
claim, damage or expense arising out of or based upon any untrue statement or alleged untrue statement or omission or alleged omission in any preliminary prospectus if a copy of a final prospectus was not sent or given by or on behalf of an
underwriter (or the Selling Holder, if the Selling Holder offered the Registrable Securities directly without an underwriter) to the person asserting such loss, claim, damage, liability or action at or prior to the written confirmation of the sale
of the Registrable Securities as required by the Securities Act and such untrue statement or omission had been corrected in such final prospectus. 
 (b) In the case of each offering made pursuant to this Agreement, each Holder of Registrable Securities included in such offering, by exercising its registration rights hereunder, agrees to indemnify and hold harmless
the Company, its officers and directors and each person, if any, who controls any of the foregoing within the meaning of the Securities Act (and if requested by the underwriters, each underwriter who participates in the offering and each person, if
any, who controls any such underwriter within the meaning of the Securities Act), from and against any and all claims, liabilities, losses, damages, expenses and judgments, joint or several, to which they or any of them may become subject, under the
Securities Act or otherwise, including any amount paid in settlement of any litigation commenced or threatened, and shall promptly reimburse them, as and when incurred, for any legal or other expenses incurred by them in connection with
investigating any claim and defending any actions, insofar as any such losses, claims, damages, liabilities or actions shall arise out of, or shall be based upon, any untrue statement or alleged untrue statement of a material fact contained in the
registration statement (or in any preliminary or final prospectus included therein) or any amendment or supplement thereto, or any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the
statements therein not misleading, but in each case only to the extent that such untrue statement of a material fact is contained in, or such material fact is omitted from, information relating to such Holder furnished in writing to the Company by
or on behalf of such Holder and identified in such writing as being specifically for use in the preparation of such registration statement (or in any preliminary or final prospectus included therein). The foregoing indemnity is in addition to any
liability which such Holder may otherwise have to the Company, any of its directors or officers, underwriters who participates in the offering or any controlling person of the foregoing; provided, however, that this indemnity does not
apply in favor of any underwriter or person controlling an underwriter (or if the Company offers securities directly without an underwriter, the Company) with respect to any loss, liability, claim, damage or expense arising out of or based upon any
untrue statement or alleged untrue statement or omission or alleged omission in any preliminary prospectus if a copy of a final prospectus was not sent or given by or on behalf of an underwriter (or the Company, if the Company offered the securities
directly without an underwriter) to the person asserting such loss, claim, damage, liability or action at or prior to the written confirmation of the sale of the securities as required by the Securities Act and such untrue statement or omission had
been corrected in such final prospectus. 
 (c) Each party indemnified under Paragraph (a) or (b) of this
Section 8 shall, promptly after receipt of notice of any claim or the commencement of any action against such indemnified party in respect of which indemnity may be sought, notify the indemnifying party in writing of the claim or the
commencement thereof; provided that the failure to notify the 

  

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indemnifying party shall not relieve it from any liability which it may have to an indemnified party on account of the indemnity agreement contained in
paragraph (a) or (b) of this Section 8, except to the extent the indemnifying party was materially prejudiced by such failure, and in no event shall relieve the indemnifying party from any other liability which it may have to such
indemnified party. If any such claim or action shall be brought against an indemnified party, and such indemnified party notifies the indemnifying party thereof, the indemnifying party shall be entitled to participate therein, and, to the extent
that it wishes, jointly with any other similarly notified indemnifying party, to assume the defense thereof with counsel reasonably satisfactory to the indemnified party. After notice from the indemnifying party to the indemnified party of its
election to assume the defense of such claim or action, the indemnifying party shall not be liable to the indemnified party under this Section 8 for any legal or other expenses subsequently incurred by the indemnified party in connection with
the defense thereof other than reasonable costs of investigation; provided that each indemnified party, its officers and directors, if any, and each person, if any, who controls such indemnified party within the meaning of the Securities Act,
shall have the right to employ separate counsel reasonably approved by the indemnifying party to represent them if the named parties to any action (including any impleaded parties) include both such indemnified party and an indemnifying party or an
Affiliate of an indemnifying party, and such indemnified party shall have been advised by counsel a conflict may exist between such indemnified party and such indemnifying party or such Affiliate that makes representation by the same counsel
inadvisable, and in that event the fees and expenses of one such separate counsel for all such indemnified parties shall be paid by the indemnifying party. An indemnified party will not enter into any settlement agreement which is not approved by
the indemnifying party, such approval not to be unreasonably withheld. The indemnifying party may not agree to any settlement of any such claim or action which provides for any remedy or relief other than monetary damages for which the indemnifying
party shall be responsible hereunder, without the prior written consent of the indemnified party, which consent shall not be unreasonably withheld. In any action hereunder as to which the indemnifying party has assumed the defense thereof with
counsel reasonably satisfactory to the indemnified party, the indemnified party shall continue to be entitled to participate in the defense thereof, with counsel of its own choice, but, except as set forth above, the indemnifying party shall not be
obligated hereunder to reimburse the indemnified party for the costs thereof. In all instances, the indemnified party shall cooperate fully with the indemnifying party or its counsel in the defense of such claim or action. 
 (d) If the indemnification provided for in this Section 8 shall for any reason be unavailable to or insufficient to hold harmless an
indemnified party in respect of any loss, claim, damage or liability, or any action in respect thereof, referred to herein, then each indemnifying party shall, in lieu of indemnifying such indemnified party, contribute to the amount paid or payable
by such indemnified party as a result of such loss, claim, damage or liability, or action in respect thereof, in such proportion as shall be appropriate to reflect the relative fault of the indemnifying party on the one hand and the indemnified
party on the other with respect to the statements or omissions which resulted in such loss, claim, damage or liability, or action in respect thereof, as well as any other relevant equitable considerations. The relative fault shall be determined by
reference to whether the untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information related to and supplied by the indemnifying party on the one hand or the indemnified party
on the other, the intent of the parties and their relative knowledge, access to information and opportunity to correct or prevent 

  

 -14- 

 
such statement or omission, but not by reference to any indemnified party’s stock ownership in the Company. In no event, however, shall a Holder be
required to contribute in excess of the amount of the net proceeds received by such Holder in connection with the sale of Registrable Securities in the offering which is the subject of such loss, claim, damage or liability. The amount paid or
payable by an indemnified party as a result of the loss, claim, damage or liability, or action in respect thereof, referred to above in this paragraph shall be deemed to include, for purposes of this paragraph, any legal or other expenses reasonably
incurred by such indemnifying party in connection with investigating or defending any such action or claim. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to
contribution from any person who was not guilty of such fraudulent misrepresentation. 
 9. Rule 144. The Company shall take such
measures and file such information, documents and reports as shall be required by the SEC as a condition to the availability of Rule 144 (or any successor provision). The Company shall use its best efforts to cause all conditions to the availability
of Form S-3 (or any successor form thereto) under the Securities Act for the filing of registration statements under this Agreement to be met as soon as possible after the completion of the Public Offering. 
 10. Holdback. 
 (a)
Each Holder agrees, if so required by the managing underwriter of any offering of equity securities by the Company and provided that the Company and each of its executive officers and directors enter into similar agreements, not to sell, make any
short sale of, loan, grant any option for the purchase of, effect any public sale or distribution of or otherwise dispose of any Registrable Securities owned by such Holder, during the 7 days prior to and the 90 days after the registration statement
relating to such offering has become effective (or such shorter period as may be required by the underwriter), except as part of such underwritten offering. Notwithstanding the foregoing sentence, each Holder subject to the foregoing sentence shall
be entitled at any time to (i) issue shares of Common Stock or other securities upon the exercise of an option or warrant or the conversion or exchange of a security outstanding on such date, (ii) sell any Registrable Securities acquired
in open market transactions after the completion of such underwritten offering, (iii) sell any Registrable Securities in a transaction in which the purchaser agrees to be bound by the restrictions contained in the foregoing sentence and
(iv) in the case of Halliburton, effect any distribution of shares of Common Stock to the holders of its common stock by means of a distribution or exchange offer in a transaction intended to qualify as a tax-free distribution under
Section 355 of the Internal Revenue Code, as amended, or any corresponding provision of any successor statute. The Company may legend and may impose stop transfer instructions on any certificate evidencing Registrable Securities relating to the
restrictions provided for in this Section 10. The Holders shall not be subject to the restrictions set forth in this Section 10(a) for longer than 97 days during any 12-month period and a Holder shall no longer be subject to such
restrictions at such time as such Holder together with its Affiliates shall own less than 10% of the then outstanding shares of Common Stock on a fully-diluted basis. 
 (b) The Company agrees, if so required by the managing underwriter of any offering of Registrable Securities, not to sell, make any short
sale of, loan, grant any option for 

  

 -15- 

 
the purchase of, effect any public sale or distribution of or otherwise dispose of any of its equity securities during the 30 days prior to and the 90 days
after any underwritten registration pursuant to Section 2 or 3 hereof has become effective, except as part of such underwritten registration. Notwithstanding the foregoing sentence, the Company shall be entitled at any time to (i) issue
shares of Common Stock or other securities upon the exercise of an option or warrant or the conversion or exchange of a security outstanding on such date, (ii) grant options to purchase shares of Common Stock or issue restricted shares of
Common Stock or other securities pursuant to employee benefit plans in effect on such date and (iii) sell shares of Common Stock or other securities in a transaction in which the purchaser agrees to be bound by the restrictions contained in the
preceding paragraph. The Company shall use its best efforts to obtain and enforce similar agreements from any other Persons if requested by the managing underwriter of such offering. Neither the Company nor such Persons shall be subject to the
restrictions set forth in this Section 10(b) for longer than 120 days during any 12-month period. 
 11. Transfer of Registration
Rights. 
 (a) A Holder may transfer all or any portion of its rights under this Agreement to any transferee of
Registrable Securities that represent (assuming the conversion, exchange or exercise of all Registrable Securities so transferred that are convertible into or exercisable or exchangeable for the Company’s Common Stock) at least 10% of the then
issued and outstanding Common Stock of the Company (each, a “Permitted Transferee”); provided, however, that (i) with respect to any transferee of a majority of the then outstanding shares of Common Stock, the
Company shall not be obligated to file a registration statement pursuant to a registration request made by such transferee pursuant to Section 2 hereof on more than two occasions after such time as such transferee owns less than a majority of
the then outstanding shares of Common Stock, (ii) with respect to any transferee of less than a majority but more than 25% of the then outstanding shares of Common Stock, the Company shall not be obligated to file a registration statement
pursuant to a registration request made by such transferee pursuant to Section 2 hereof on more than two occasions, and (iii) with respect to any transferee of 25% or less of the then issued and outstanding Common Stock, the Company shall
not be obligated to file a registration statement pursuant to a registration request made by such transferee pursuant to Section 2 hereof on more than one occasion. Any Holder electing to transfer registration rights pursuant to this Section
shall provide the Company with written notice promptly following such Holder’s execution of a binding agreement to transfer Registrable Securities. Such notice shall state the name and address of any Permitted Transferee and identify the number
and/or aggregate principal amount of Registrable Securities with respect to which the rights under this Agreement are being transferred and the scope of the rights so transferred. In connection with any such transfer, the term Halliburton as used in
this Agreement (other than in Sections 2(a)(iii) and 5(a)) shall, where appropriate to assign the rights and obligations hereunder to such Permitted Transferee, be deemed to refer to the Permitted Transferee of such Registrable Securities.
Halliburton and any Permitted Transferees may exercise the registration rights hereunder in such priority, as among themselves, as they shall agree among themselves, and the Company shall observe any such agreements of which it shall have notice as
provided above. 
 (b) After any such transfer, the transferring Holder shall retain its rights under this Agreement with
respect to all other Registrable Securities owned by such transferring Holder. 
  

 -16- 

 (c) Upon the request of the transferring Holder, the Company shall execute an agreement
with a Permitted Transferee substantially similar to this Agreement. 
 12. Miscellaneous. 
 (a) Injunctions. Each party acknowledges and agrees that irreparable damage would occur in the event that any of the provisions of
this Agreement was not performed in accordance with its specific terms or was otherwise breached. Therefore, each party shall be entitled to an injunction or injunctions to prevent breaches of the provisions of this Agreement and to enforce
specifically the terms and provisions hereof in any court having jurisdiction, such remedy being in addition to any other remedy to which such party may be entitled at law or in equity. 
 (b) Severability. If any term or provision of this Agreement is held by a court of competent jurisdiction to be invalid, void or
unenforceable, the remainder of the terms and provisions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and each of the parties shall use its best efforts to find and employ an
alternative means to achieve the same or substantially the same result as that contemplated by such term or provision. 
 (c)
Further Assurances. Subject to the specific terms of this Agreement, each of the parties hereto shall make, execute, acknowledge and deliver such other instruments and documents, and take all such other actions, as may be reasonably required
in order to effectuate the purposes of this Agreement and to consummate the transactions contemplated hereby. 
 (d)
Waivers, etc. Except as otherwise expressly set forth in this Agreement, no failure or delay on the part of either party in exercising any power or right hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of
any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. Except as otherwise expressly set forth in this
Agreement, no modification or waiver of any provision of this Agreement nor consent to any departure therefrom shall in any event be effective unless the same shall be in writing and signed by an authorized officer of each of the parties, and then
such waiver or consent shall be effective only in the specific instance and for the purpose for which given. 
 (e) Entire
Agreement. This Agreement contains the final and complete understanding of the parties with respect to its subject matter. This Agreement supersedes all prior agreements and understandings between the parties, whether written or oral, with
respect to the subject matter hereof. 
 (f) Counterparts. For the convenience of the parties, this Agreement may be
executed in any number of counterparts, each of which shall be deemed to be an original but all of which together shall be one and the same instrument. 
 (g) Termination. The right of any Holder to request registration or inclusion in any registration pursuant to this Agreement shall terminate on such date as all Registrable 

  

 -17- 

 
Securities held or entitled to be held upon conversion by such Holder and its Affiliates may immediately be sold under Rule 144 during any ninety
(90) day period. 
 (h) Amendment. This Agreement may be amended only by a written instrument duly executed by an
authorized officer of each of the parties. 
 (i) Notices. Unless expressly provided herein, all notices, claims,
certificates, requests, demands and other communications hereunder shall be in writing and shall be deemed to be duly given (i) when personally delivered or (ii) if sent by registered or certified mail, postage prepaid, return receipt
requested, on the date the return receipt is executed or the letter refused by the addressee or its agent or (iii) if sent by overnight courier which delivers only upon the signed receipt of the addressee, on the date the receipt acknowledgment
is executed or refused by the addressee or its agent or (iv) if sent by facsimile or other generally accepted means of electronic transmission, on the date confirmation of transmission is received (provided that a copy of any notice delivered
pursuant to this clause (iv) shall also be sent pursuant to clause (ii) or (iii)), addressed as follows or sent by facsimile to the following number (or to such other address or facsimile number for a party as it shall have specified by
like notice): 
  

	 	(i)	if to Halliburton, to: 

 Halliburton Company 

5 Houston Center 
 1401 McKinney, Suite
2400 
 Houston, Texas 77010 
 Attention: General Counsel 
  

	 	(ii)	if to the Company, to 

 KBR, Inc. 
 4100 Clinton Drive 
 Houston, Texas
77020-6237 
 Attention: General Counsel 
  

	 	(iii)	if to a Holder, to the name and address as the same appear in the security transfer books of the Company, 

 or to such other address as either party (or other Holders) may, from time to time, designate in a written notice in a like manner. 
 (j) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT
REGARD TO THE CONFLICTS OF LAWS PRINCIPLES THEREOF. 
 (k) Assignment. Except as specifically provided herein, the
parties may not assign their rights under this Agreement. The Company may not delegate its obligations under this Agreement. 
  

 -18- 

 (l) Conflicting Agreements. The Company shall not hereafter grant any rights to
any person to register securities of the Company, the exercise of which would conflict with the rights granted to the Holders under this Agreement. The Company shall not hereafter grant to any person demand registration rights permitting it to
exclude the Holders from including Registrable Securities in a registration on behalf of such person on a basis more favorable than that set forth in Section 2(d) hereof with respect to the Holders. 
 (m) Resolution of Disputes. If a dispute, claim or controversy results from or arises out of or in connection with this Agreement,
the parties agree to use the procedures set forth in Article VII of the Separation Agreement, in lieu of other available remedies, to resolve the same. 
 (n) Construction. This Agreement shall be construed as if jointly drafted by the Company and Halliburton and no rule of construction or strict interpretation shall be applied against either party. The paragraph
headings contained in this Agreement are for reference purposes only, and shall not affect in any manner the meaning or interpretation of this Agreement. 
  

 -19- 

 IN WITNESS WHEREOF, Halliburton and the Company have caused this Agreement to be duly executed by their
authorized representative as of the date first above written. 
  

			
	HALLIBURTON COMPANY
		
	By:	 	/s/ C. Christopher Gaut
	Name:	 	C. Christopher Gaut
	Title:	 	Executive Vice President and Chief Financial Officer
	
	KBR, INC.
		
	By:	 	/s/ William P. Utt
	Name:	 	William P. Utt
	Title:	 	President & CEO

  

 -20-

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