Document:

Exhibit 10.3

  

  

  

  
    
      
EMPLOYEE MATTERS AGREEMENT

     

    

    between

     

    

    TECHNIPFMC PLC

     

    

    and

     

    

    TECHNIP ENERGIES N.V.

    

    

    Dated as of [ ● ]
      

    

    
      
        

    

    
      TABLE OF CONTENTS

      

      

      
        	 	 	 	
                Page

              
	
                ARTICLE I. GENERAL PRINCIPLES; LITIGATION

              	
                1

              
	 	
                1.1

              	
                TFMC Group Employee Liabilities

              	
                1

              
	 	
                1.2

              	
                TEN Group Employee Liabilities

              	
                2

              
	 	
                1.3

              	
                TFMC Benefit Plans/TEN Benefit Plans

              	
                2

              
	 	
                1.4

              	
                Employee-Related Litigation

              	
                2

              
	
                ARTICLE II. EMPLOYEES AND EMPLOYEE TRANSFERS

              	
                3

              
	 	
                2.1

              	
                Assignment and Transfer of Employees

              	
                3

              
	 	
                2.2

              	
                Automatic Transfers

              	
                3

              
	 	
                2.3

              	
                Delayed Transfers

              	
                4

              
	 	
                2.4

              	
                Collective Bargaining Agreements

              	
                5

              
	 	
                2.5

              	
                Employment Agreements

              	
                5

              
	 	
                2.6

              	
                Transfer and Termination Liabilities

              	
                5

              
	
                ARTICLE III. SERVICE CREDIT

              	
                6

              
	 	
                3.1

              	
                Service Credit for Employee Transfers

              	
                6

              
	
                ARTICLE IV. VACATION, PAID TIME OFF AND BONUSES

              	
                6

              
	 	
                4.1

              	
                Vacation and Paid Time Off

              	
                6

              
	 	
                4.2

              	
                Annual Bonuses

              	
                7

              
	
                ARTICLE V. BENEFIT PLANS GENERALLY AND RETIREMENT BENEFITS

              	
                7

              
	 	
                5.1

              	
                Benefit Plans Generally

              	
                7

              
	 	
                5.2

              	
                Retirement Plans

              	
                7

              
	 	
                5.3

              	
                No Distributions on Separation

              	
                10

              
	
                ARTICLE VI. CERTAIN WELFARE BENEFIT PLAN MATTERS

              	
                10

              
	 	
                6.1

              	
                Spinoff Welfare Plans

              	
                10

              
	 	
                6.2

              	
                Welfare Claims

              	
                11

              
	 	
                6.3

              	
                Continuation of Elections

              	
                11

              
	 	
                6.4

              	
                Deductibles, Cost-Sharing Provisions, and Coverage Maximums

              	
                12

              
	 	
                6.5

              	
                Workers’ Compensation

              	
                13

              
	
                ARTICLE VII. TECHNIPFMC EQUITY COMPENSATION AWARDS

              	
                13

              
	 	
                7.1

              	
                Outstanding TFMC Equity Compensation Awards

              	
                13

              
	 	
                7.2

              	
                Conformity with Laws

              	
                17

              
	 	
                7.3

              	
                Tax Withholding and Reporting

              	
                17

              
	 	
                7.4

              	
                Employment Treatment

              	
                17

              

        

        

        
          i

          
            

        

        	 	
                7.5

              	
                Registration

              	
                17

              
	 	
                7.6

              	
                Accelerated Vesting

              	
                18

              
	
                ARTICLE VIII. BENEFIT PLAN TRANSITION SERVICES, BENEFIT PLAN THIRD-PARTY CLAIMS

              	
                18

              
	 	
                8.1

              	
                General Principles

              	
                18

              
	 	
                8.2

              	
                Benefit Plan Third-Party Claims

              	
                18

              
	
                ARTICLE IX. INDEMNIFICATION

              	
                18

              
	 	
                9.1

              	
                Indemnification

              	
                18

              
	
                ARTICLE X. ADDITIONAL COVENANTS

              	
                18

              
	 	
                10.1

              	
                Cooperation

              	
                19

              
	 	
                10.2

              	
                Vendor Contracts

              	
                19

              
	 	
                10.3

              	
                Data Privacy

              	
                19

              
	
                ARTICLE XI. DISPUTE RESOLUTION

              	
                19

              
	 	
                11.1

              	
                Dispute Resolution

              	
                19

              
	
                ARTICLE XII. MISCELLANEOUS

              	
                19

              
	 	
                12.1

              	
                General

              	
                19

              
	 	
                12.2

              	
                Termination

              	
                19

              
	 	
                12.3

              	
                Defined Terms

              	
                20

                

              
	 	
                12.4

              	
                Other Agreements

              	
                20

                

              
	
                ANNEX I DEFINED TERMS

              	
                23

              
	
                COUNTRY SCHEDULE - AUSTRALIA

              	
                30

                

              
	
                COUNTRY SCHEDULE - FRANCE

              	
                31

              
	
                COUNTRY SCHEDULE - UNITED STATES

              	
                32

              

      

    

     

    

    
      ii

      
        

    

    
    
      EMPLOYEE MATTERS AGREEMENT

       

      

      This EMPLOYEE MATTERS AGREEMENT (this “Employee Matters Agreement”) is entered into effective as of [ ● ], by and between TechnipFMC plc, a public limited company formed under the laws of England and Wales (“TFMC”),

        and Technip Energies N.V., a public limited liability company incorporated under the laws of the Netherlands and a wholly owned subsidiary of TFMC (“TEN”).  TFMC and TEN are each a “Party” and are sometimes referred to herein
        collectively as the “Parties.”

       

      

      RECITALS

       

      

      WHEREAS, TFMC, acting together with its Subsidiaries, currently conducts the TFMC Business and the TEN Business;

       

      

      WHEREAS, TFMC and TEN have entered into that certain Separation and Distribution Agreement, dated as of [ ● ] (the “Separation Agreement”) pursuant to which the Separation will be consummated;

       

      

      WHEREAS, TFMC and TEN have agreed that, except as otherwise specifically provided herein, the general approach and philosophy underlying this Employee Matters Agreement is to (a) allocate Assets, Liabilities and
        responsibilities to the TFMC Group (as opposed to the TEN Group) to the extent they relate to current or former employees and other service providers primarily related to the TFMC Assets or the TFMC Business and (b) allocate Assets, Liabilities and
        responsibilities to the TEN Group (as opposed to the TFMC Group) to the extent they relate to current or former employees and other service providers primarily related to the TEN Assets or the TEN Business; and

       

      

      WHEREAS, TFMC and TEN desire to set forth their agreement on the rights and obligations of TFMC and TEN and the members of the TFMC Group and the TEN Group, respectively, with respect to the treatment of, and the
        compensation and employee benefits provided to, current and former employees of TFMC and TEN and their Subsidiaries.

       

      

      NOW, THEREFORE, in consideration of the foregoing and the mutual agreements, provisions and covenants contained in this Employee Matters Agreement, the Parties hereby agree as follows:

       

      

    

    ARTICLE I.

      GENERAL PRINCIPLES; LITIGATION

     

    

    1.1          TFMC Group Employee Liabilities. Except as specifically provided in this Employee Matters Agreement, a Country Schedule, or required by applicable local Law, the TFMC Group will be solely responsible
      for (i) all employment, compensation and employee benefits Liabilities relating to TFMC Employees and Former TFMC Employees, (ii) all Liabilities relating to or arising under each TFMC Benefit Plan, and (iii) any other Liabilities expressly assigned
      or allocated to a TFMC Group member under this Employee Matters Agreement, whether arising before, on or after the Distribution Date, whether based on facts occurring before, on or after the Distribution Date and irrespective of which Person such
      Liabilities are asserted against or which Person such Liabilities attached to as a matter of applicable Law or contract (collectively, “TFMC Employee Liabilities”).

     

    

    
      1

      
        

    

    1.2          TEN Group Employee Liabilities. Except as specifically provided in this Employee Matters Agreement, a Country Schedule, or required by applicable local Law, the TEN Group will be solely responsible
      for (i) all employment, compensation and employee benefits Liabilities relating to TEN Employees and Former TEN Employees, (ii) all Liabilities relating to or arising under each TEN Benefit Plan, and (iii) any other Liabilities expressly assigned or
      allocated to a TEN Group member under this Employee Matters Agreement, whether arising before, on or after the Distribution Date, whether based on facts occurring before, on or after the Distribution Date and irrespective of which Person such
      Liabilities are asserted against or which Person such Liabilities attached to as a matter of applicable Law or contract  (collectively, “TEN Employee Liabilities”).

     

    

    1.3          TFMC Benefit Plans/TEN Benefit Plans. Unless otherwise specifically provided in this Employee Matters Agreement or on a Country Schedule, required by applicable local Law, or provided in the
      Transition Services Agreement:

     

    

    (a)          Effective as of the applicable Plan Split Date, the TFMC Group will be exclusively responsible for administering each TFMC Benefit Plan (including any Split TFMC Retirement Plan, Split TFMC Welfare Plan,
      TFMC Spinoff Retirement Plan and TFMC Spinoff Welfare Plan) in accordance with its terms and for all obligations and Liabilities with respect to the TFMC Benefit Plans and all benefits owed to participants in the TFMC Benefit Plans, whether arising
      before, on or after the Distribution Date.

     

    

    (b)          Effective as of the applicable Plan Split Date the TEN Group will be exclusively responsible for administering each TEN Benefit Plan (including any Split TEN Retirement Plan, Split TEN Welfare Plan, TEN
      Spinoff Retirement Plan and TEN Spinoff Welfare Plan) in accordance with its terms and for all obligations and Liabilities with respect to the TEN Benefit Plans and all benefits owed to participants in the TEN Benefit Plans, whether arising before,
      on or after the Distribution Date.

     

    

    1.4          Employee-Related Litigation.  Effective as of the Distribution Date, Liabilities with respect to any Pre-Distribution Action: (i) will be a TEN Employee Liability if it relates to TEN Employees,
      Former TEN Employees and/or TEN Benefit Plans, including all matters included as a TEN Action on Schedule I.B to the Separation Agreement; (ii) will be a TFMC Employee Liability if it relates to TFMC Employees, Former TFMC Employees and/or
      TFMC Benefit Plans, including all matters listed as TFMC Actions on Schedule I.H of the Separation Agreement; and (iii) will be a shared Liability between TFMC and TEN to the extent it cannot be readily attributed to TFMC Employees, Former
      TFMC Employees or TFMC Benefit Plans on the one hand, or TEN Employees, Former TEN Employees or TEN Benefit Plans, on the other hand, as described in clauses (i) and (ii).

     

    

    
      2

      
        

    

    ARTICLE II.

      EMPLOYEES AND EMPLOYEE TRANSFERS

     

    

    2.1          Assignment and Transfer of Employees.

     

    

    (a)          Effective as of no later than the Distribution Date, and except as otherwise agreed by the Parties, the applicable members of the TFMC Group and the TEN Group shall have taken such actions as are necessary
      to ensure that (i) each individual who the parties have agreed will be treated as a TEN Employee is employed by a TEN Entity as of such date and (ii) each individual who the parties have agreed will be treated as a TFMC Employee is employed by a TFMC
      Entity as of such date. The Parties agree to execute, and to seek to have the applicable employees execute, such documentation, if any, as may be necessary to reflect such assignment or transfer.

     

    

    (b)          All transfers of employment will be accomplished in accordance with applicable Laws, and each Party will use commercially reasonable efforts to (i) transfer employees upon the same terms and conditions as
      such employee enjoyed immediately prior to such transfer or upon the same terms and conditions as other similarly situated employees of the employing entity into which such employee is transferred, and (ii) effectuate such transfers in a manner that
      does not result in the payment of severance, end of service gratuities or similar amounts, unless otherwise required by Law.

     

    

    (c)           To the extent that (i) the applicable Law of any jurisdiction, (ii) any applicable Collective Bargaining Agreement or other applicable agreement with a works council or economic committee, or (iii) any
      applicable employment agreement would require either Party to provide terms of employment to any transferred Employee that are more favorable than those otherwise provided for in this Employee Matters Agreement in connection with the Distribution,
      then such Party will or will cause a member of its Group to provide such Employee with such more favorable terms.

     

    

    (d)          For purposes of this Employee Matters Agreement, with respect to any former employee who provided services to both the TEN Business and the TFMC Business as a shared services employee, and whose employment
      terminated prior to the Distribution Date, then such former employee will be treated as either a Former TEN Employee or a Former TFMC Employee based on the following principles: (i) such employee will be allocated to the business for which he or she
      performed a majority of his or services, as reasonably determined by the Parties working in good faith, or (ii) if it cannot be determined that such former employee performed a majority of his or her services for one of the businesses, then such
      former employee will be treated as a former employee of the entity from which he or she terminated employment.

      

    

    2.2          Automatic Transfers.

     

    

    (a)          If any employee is employed by a TFMC Entity immediately prior to the Distribution Date, and who is required by applicable Law to transfer, or who has accepted a transfer of employment (on the same or
      different terms that applied prior to the Distribution), to a TEN Entity in connection with the transactions contemplated by this Employee Matters Agreement, the Separation Agreement or the other Ancillary Agreements, but such employee has not
      actually become an employee of the TEN Group prior to the Distribution Date, then such employee’s employment will transfer automatically on the Distribution Date to a TEN Entity in accordance with such applicable Law, or such employee will otherwise
      be deemed to be a TEN Employee for purposes of this Employee Matters Agreement and the Distribution Date will be such employee’s Employment Transfer Date.

     

    

    
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    (b)          Any employee who is employed by a TEN Entity immediately prior to the Distribution Date, and who is required by applicable Law to transfer, or who has accepted a transfer of employment (on the same or
      different terms that applied prior to the Distribution), to a TFMC Entity in connection with the transactions contemplated by this Employee Matters Agreement, the Separation Agreement or the other Ancillary Agreements, but such employee has not
      actually become an employee of the TFMC Group prior to the Distribution Date, then such employee’s employment will transfer automatically on the Distribution Date to a TFMC Entity in accordance with such applicable Law, or such employee will
      otherwise be deemed to be a TFMC Employee for purposes of this Employee Matters Agreement and the Distribution Date will be such employee’s Employment Transfer Date.

     

    

    2.3          Delayed Transfers. Any employee whose employment transfers from the TFMC Group to the TEN Group or from the TEN Group to the TFMC Group, as applicable, pursuant to one of the following categories
      will be a “Delayed Transfer Employee”, provided such employee was continuously employed by a TEN Entity  or the TFMC Group (as applicable) from the Distribution Date through the date of the applicable
      employment transfer:

     

    

    (a)           any employee who was inadvertently and erroneously treated as being employed by the wrong employer on the Distribution Date (including any employee who was inadvertently automatically transferred under Section

        2.2 or who rejected such transfer) and who is transferred to the correct employer within six (6) months after the Distribution Date;

     

    

    (b)          any employee whose transfer of employment required a Governmental Entity’s or other Third Party’s authorization, approval or consent (including in connection with a visa or work permit) where such
      authorization, approval or consent is obtained and such transfer of employment occurs within six (6) months after the Distribution Date;

     

    

    (c)          unless otherwise required by applicable Law, any employee who was on an approved long-term or short-term disability leave on the Distribution Date and who returns to active service within eighteen (18)
      months after the Distribution Date (or such other period required by applicable Law), with such transfer occurring immediately upon the employee returning to active service); or

     

    

    (d)          any employee who transfers employment before, or at the expiration of, the applicable period of the Transition Services Agreement under which such employee provides services, as mutually determined between
      TFMC and TEN.

     

    

    (e)          Notwithstanding anything herein to the contrary, no employee will be considered a Delayed Transfer Employee unless the mutual agreement with respect to, and the Delayed Transfer Date of, the Delayed Transfer
      Employee occurs on or before the end of the maximum period during which the transfer is permitted to occur, as detailed above.

     

    

    
      4

      
        

    

    2.4          Collective Bargaining Agreements.

     

    

    (a)          Unless otherwise required by applicable local Law, the Parties agree that if Employees are being transferred into a newly formed entity pursuant to this Article 2, then (a) the Collective Bargaining
      Agreements that are applicable to any such TEN Employees will have effect after the applicable Employment Transfer Date as if originally made between such TEN Entity (or a union, works council, or trade organization of which a TEN Group entity is a
      member) and the other parties to the Collective Bargaining Agreement, subject to the terms of such Collective Bargaining Agreement, and (ii) the Collective Bargaining Agreements that are applicable to any such TFMC Employees will have effect after
      the Employment Transfer Date as if originally made between a TFMC Entity (or a union, works council, or trade organization of which a TFMC Group entity is a member) and the other parties to the Collective Bargaining Agreement, subject to the terms of
      such Collective Bargaining Agreement.

     

    

    (b)          To the extent required by applicable local Law or any applicable Collective Bargaining Agreement, the parties shall cooperate and consult in good faith to provide notice, engage in consultation, and take any
      similar action which may be required on its part in connection with the Separation.

     

    

    2.5          Employment Agreements. Unless otherwise required by applicable local Law, effective as of the applicable Employment Transfer Date, (a) a TEN Entity will assume and be solely responsible for any
      Employment Agreement to which a TEN Employee transferred under this Article II is a party (a “TEN Employment Agreement”), as if originally made between the TEN Group, and the TFMC Group will have no Liabilities or other obligations
      with respect thereto and (b) TFMC or a TFMC Entity will assume and be solely responsible for any Employment Agreement to which a TFMC Employee transferred under this Article II is a party (a “TFMC Employment Agreement”), as if
      originally made between the TFMC Group and the TEN Group will have no Liabilities or other obligations with respect thereto.

     

    

    2.6          Transfer and Termination Liabilities.  Notwithstanding Section 5.1(a) or Section 5.1(b):

     

    

    (a)          With respect to any severance, end of service, jubilee, payout of accrued vacation or other paid-time off or other benefits owed to any TFMC Employee or Former TFMC Employee required as a result of the
      transfer of his or her employment contemplated by this Article II or other termination of employment occurring before, on or after the Distribution Date (the “TFMC Severance Benefits”), the TFMC Group and the applicable TFMC Benefit
      Plans will be solely responsible for all such TFMC Severance Benefits.

     

    

    (b)          With respect to any severance, end or service, jubilee, payout of accrued vacation or other paid-time off or other benefits owed to any TEN Employee or Former TEN Employee required as a result of the
      transfer of employment of his or her employment contemplated by this Article II or a termination of employment occurring before, on or after to the Distribution Date (the “TEN Severance Benefits”), the TEN Group and the applicable TEN
      Spinoff Benefit Plans will be solely responsible for all such TEN Severance Benefits.

     

      

    
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    ARTICLE III.

      SERVICE CREDIT

     

    

    3.1          Service Credit for Employee Transfers. To the extent not already required by applicable Law, the following service crediting rules will apply:

     

    

    (a)          From and after the Employment Transfer Date, in the case of all TEN Benefit Plans, TEN will, and will cause its Affiliates to, provide credit under the TEN Benefit Plans to each TEN Employee (and Former TEN
      Employee, if applicable) for all service with the TFMC Group prior to the applicable Employment Transfer Date, as applicable, including for purposes of eligibility, vesting, and benefit service under the appropriate TEN Benefit Plans in which the TEN
      Employee (and Former TEN Employee, if applicable) is eligible to participate, subject to the terms of the applicable TEN Benefit Plans, to the extent recognized by the TFMC Group under an analogous TFMC Benefit Plan prior to the applicable Employment
      Transfer Date; provided, however, that service will not be recognized to the extent that such recognition would result in the duplication of benefits taking into account both TFMC Benefit Plans and TEN Benefit Plans.

     

    

    (b)          From and after the Employment Transfer Date, in the case of all TFMC Benefit Plans, TFMC will, and will cause its Affiliates to, provide credit under the TFMC Benefit Plans to each TFMC Employee (and Former
      TFMC Employee, if applicable) for all service with the TEN Group prior to the Employment Transfer Date, including for purposes of eligibility, vesting, and benefit service under the appropriate TFMC Benefit Plans in which the TFMC Employee (and
      Former TFMC Employee, if applicable) is eligible to participate, subject to the terms of the applicable TFMC Benefit Plans, to the extent recognized by the TEN Group under an analogous TEN Benefit Plan prior to the applicable Employment Transfer
      Date; provided, however, that service will not be recognized to the extent that such recognition would result in the duplication of benefits taking into account both TFMC Benefit Plans and TEN Benefit Plans.

     

    

    (c)          Except with respect to Delayed Transfer Employees, with respect to any employee hired after the Distribution Date, unless required by Law (i) the Benefit Plans of the TEN Group for employees hired by the TEN
      Group will not recognize such employee’s service with the TFMC Group (if any) and (ii) the Benefit Plans of the TFMC Group for employees hired by the TFMC Group will not recognize such employee’s service with the TEN Group (if any).

     

    

    ARTICLE IV.

      VACATION, PAID TIME OFF AND BONUSES

     

    

    4.1          Vacation and Paid Time Off. Except to the extent not permitted by applicable Law or paid out as provided in Section 2.6, the TFMC Group will assume or retain, as applicable, responsibility
      for accrued paid vacation and other paid time off attributable to TFMC Employees as of the Employment Transfer Date. Except to the extent not permitted by applicable Law or paid out as provided in Section 2.6, the TEN Group will assume or
      retain, as applicable, responsibility for accrued paid vacation and other paid time off attributable to TEN Employees as of the Employment Transfer Date.

     

    

    
      6

      
        

    

    4.2          Annual Bonuses.  For 2021 TFMC will establish performance goals for the period occurring prior to the Distribution Date, and for the period following the Distribution Date each of the TFMC Group and
      the TEN Group will be responsible for establishing the performance goals applicable to their respective employees.  TFMC Group will be responsible for paying any annual bonus for its employees for each of the 2021 performance periods and the TEN
      Group will be responsible for paying any annual bonus for its employees for each of the 2021 performance periods.

     

    

    ARTICLE V.

      BENEFIT PLANS GENERALLY AND RETIREMENT BENEFITS

     

    

    5.1          Benefit Plans Generally.

     

    

    (a)          Except as otherwise specifically provided in this Employee Matters Agreement or on a Country Schedule, on the relevant Employment Transfer Date, a TEN Entity will assume all or a portion of the obligations
      under the TFMC Benefit Plans solely to the extent applicable to the TEN Employees and Former TEN Employees and all associated Assets and Liabilities therewith. TEN will cause the TEN Group to assume such portion of the TFMC Plans or to otherwise
      apply the terms of such TFMC Benefit Plans on and after the relevant Employment Transfer Date to TEN Employees or Former TEN Employees for such time as permitted or required under applicable Law.

     

    

    (b)          Except as otherwise specifically provided in this Employee Matters Agreement or on a Country Schedule, on the relevant Employment Transfer Date, a TFMC Entity will assume all or a portion of the obligations
      under the TEN Benefit Plans solely to the extent applicable to the TFMC Employees and Former TFMC Employees and all associated Assets and Liabilities therewith.  TFMC will cause the TFMC Group to assume such portion of the TEN Plans or apply the
      terms of such TEN Benefit Plans on or after the relevant Employment Transfer Date to TFMC Employees or Former TFMC Employees for such period of time as permitted or required under applicable Law.

     

    

    5.2          Retirement Plans.

     

    

    (a)          Spinoff Plans Generally.

     

    

    
      
        (i)         Except as provided in Section 5.2(f), effective as of the relevant Plan Split Date, TEN or another member of the TEN Group will adopt and establish retirement plans, and, if
          applicable, any related trust (such plans and trusts, the “TEN Spinoff Retirement Plans”) with terms and features (including employer contribution provisions) that are substantially similar to the retirement Benefit Plans maintained by a
          TFMC Entity for the benefit of TEN Employees and Former TEN Employees (such Benefit Plans, the “Split TFMC Retirement Plans”) such that (for the avoidance of doubt) each Split TFMC Retirement Plan is substantially replicated to a
          corresponding TEN Spinoff Retirement Plan.  A TEN Entity will be solely responsible for taking all necessary, reasonable, and appropriate actions to establish, maintain and administer the TEN Spinoff Retirement Plans so that they comply with
          applicable Laws. Each TEN Spinoff Retirement Plan will assume all Liabilities relating to benefits accrued or earned (whether or not vested) by TEN Employees and Former TEN Employees under the corresponding Split TFMC Retirement Plan as of the
          Plan Split Date or Delayed Transfer Date, if applicable.

         

        

        
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        (ii)        Except as provided in Section 5.2(f), effective as of the relevant Plan Split Date, TFMC or another member of the TFMC Group will adopt and establish retirement plans, and, if
          applicable, any related trust (such plans and trusts, the “TFMC Spinoff Retirement Plans”) with terms and features (including employer contribution provisions) that are substantially similar to the retirement Benefit Plans maintained by a
          TEN Entity for the benefit of TFMC Employees and Former TFMC Employees (such Benefit Plans, the “Split TEN Retirement Plans”) such that (for the avoidance of doubt) each Split TEN Retirement Plan is substantially replicated by a
          corresponding TFMC Spinoff Retirement Plan. A TFMC Entity will be solely responsible for taking all necessary, reasonable, and appropriate actions to establish, maintain and administer the TFMC Spinoff Retirement Plans so that they comply with
          applicable Laws. Each TFMC Spinoff Retirement Plan will assume all Liabilities for all benefits accrued or earned (whether or not vested) by TFMC Employees and Former TFMC Employees under the corresponding Split TEN Retirement Plan as of the Plan
          Split Date or Delayed Transfer Date, if applicable.

         

        

      

    

    
      
        (b)          Asset Transfers and Assumption of Liabilities.

          

        

      

    

    
      
        (i)         On or as soon as reasonably practicable following the applicable Plan Split Date or Delayed Transfer Date for any TEN Transferees (but not later than thirty (30) days thereafter), TFMC
          or another member of the TFMC Group will cause each Split TFMC Retirement Plan to transfer to the applicable TEN Spinoff Retirement Plan, and TEN or another member of the TEN Group will cause such TEN Spinoff Retirement Plan to accept the
          transfer of, the accounts, related Liabilities and any related Assets in such Split TFMC Retirement Plan attributable to TEN Employees, Former TEN Employees, TEN Transferees and their respective Plan Payees, as set forth on the applicable Country
          Schedule.

         

        

      

    

    
      
        (ii)        On or as soon as reasonably practicable following the applicable Plan Split Date or Delayed Transfer Date for any TFMC Transferees (but not later than thirty (30) days thereafter), a
          TEN Entity will cause each Split TEN Retirement Plan to transfer to the applicable TFMC Spinoff Retirement Plan and TFMC or another member of the TFMC Group will cause such TFMC Spinoff Retirement Plan to accept the transfer of the accounts,
          related Liabilities, and related Assets in the corresponding TFMC Spinoff Retirement Plan attributable to any TFMC Employees, Former TFMC Employees, TFMC Transferees and their respective Plan Payees, as set forth on the applicable Country
          Schedule.

         

        

      

    

    
      
        (iii)       The transfer of any Assets under this Section 5.2(b) will be in cash or in-kind (as determined by the transferor) and, if relevant include outstanding loan balances.

      

    

    

    

    
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    (c)          Liabilities.

     

    

    
      
        (i)          From and after the Distribution Date, TEN and the TEN Group will be solely and exclusively responsible for all obligations and Liabilities with respect to, or related to, benefits
          under the TEN Spinoff Retirement Plans, whether accrued before, on or after the Distribution Date.

         

        

      

    

    
      
        (ii)        From and after the Distribution Date, TFMC and the TFMC Group will be solely and exclusively responsible for all obligations and Liabilities with respect to, or related to, benefits
          under the TFMC Spinoff Retirement Plans, whether accrued before, on or after the Distribution Date.

         

        

      

    

    (d)          Continuation of Elections.

     

    

    
      
        (i)          As of the applicable Plan Split Date, or Delayed Transfer Date for TEN Transferees, the parties will cooperate in good faith to cause the TEN Spinoff Retirement Plans to recognize and
          maintain all elections (to the extent still applicable and reasonable), including investment and payment form elections, beneficiary designations, and the rights of alternate payees under qualified domestic relations orders with respect to TEN
          Employees, Former TEN Employees and their respective Plan Payees under the corresponding Split TFMC Retirement Plan, subject to the terms of the applicable TEN Spinoff Retirement Plans.

         

        

      

    

    
      
        (ii)         As of the applicable Plan Split Date, or Delayed Transfer Date for TFMC Transferees, the parties will cooperate in good faith to cause the TFMC Spinoff Retirement Plans to recognize
          and maintain all elections (to the extent still applicable and reasonable), including investment and payment form elections, beneficiary designations, and the rights of alternate payees under qualified domestic relations orders with respect to
          TFMC Employees and their respective Plan Payees under the corresponding Split TEN Retirement Plan, subject to the terms of the applicable TFMC Spinoff Retirement Plans.

         

        

      

    

    (e)          Contributions Due.

     

    

    
      
        (i)          All amounts payable to the Split TFMC Retirement Plans with respect to employee deferrals, matching contributions and employer contributions for TEN Employees and Former TEN Employees
          relating to a time period ending on or prior to the Plan Split Date (or, for TEN Transferees, the applicable Delayed Transfer Date), determined in accordance with the terms and provisions of the Split TFMC Retirement Plans and applicable Law,
          will be paid by TEN or another member of the TEN Group to the appropriate Split TFMC Retirement Plan.

         

        

      

    

    
      
        (ii)         All amounts payable to the Split TEN Retirement Plans with respect to employee deferrals, matching contributions and employer contributions for TFMC Employees and Former TFMC Employees
          relating to a time period ending on or prior to the Plan Split Date (or, for TFMC Transferees, the applicable Delayed Transfer Date), determined in accordance with the terms and provisions of the Split TEN Retirement Plans and applicable Law,
          will be paid by TFMC or another member of the TFMC Group to the appropriate Split TEN Retirement Plan.

         

        

        
          9

          
            

        

      

    

    (f)           Notwithstanding Section 5.1 or Section 5.2(a) or anything in this Employee Matters Agreement to the contrary, or as otherwise required by applicable Law, TFMC will retain all Liabilities
      with respect to all Employees under the FMC Technologies Pension Plan and the FMC Technologies Inc. Employees’ Retirement Program, and the TEN Group shall not have any Liability or obligations with respect thereto.

     

    

    5.3          No Distributions on Separation. TFMC and TEN acknowledge that neither the Distribution nor any of the other transactions contemplated by this Employee Matters Agreement (including the split of
      certain plans as of the Plan Split Date), the Separation Agreement, or the other Ancillary Agreements will trigger a payment or distribution of compensation under any Benefit Plan that is a not a tax-qualified retirement plan for any TFMC Employee,
      TEN Employee, Former TFMC Employee or Former TEN Employee (or any applicable Plan Payee thereof) and, consequently, that the payment or distribution of any compensation to which any TFMC Employee, TEN Employee, Former TFMC Employee or Former TEN
      Employee (or any applicable Plan Payee thereof) is entitled under any such Benefit Plan will occur upon such individual’s separation from service from the TFMC Group or the TEN Group, as applicable, or at such other time as specified in the
      applicable Benefit Plan.

     

    

    ARTICLE VI.

      CERTAIN WELFARE BENEFIT PLAN MATTERS

     

    

    6.1          Spinoff Welfare Plans.

     

    

    (a)          Effective as of the applicable Plan Split Date (or the applicable Delayed Transfer Date with respect to any TEN Transferee), a TEN Entity will provide all welfare benefits required under applicable Law to
      TEN Employees and, if necessary, establish certain welfare benefit plans (such plans, the “TEN Spinoff Welfare Plans”) having terms and features (including benefit coverage options and employer contribution provisions) that are substantially
      similar to one of the corresponding TFMC Benefit Plans provided to TEN Employees or Former TEN Employees, to the extent applicable (such TFMC Benefit Plans, the “Split TFMC Welfare Plans”), such that (for the avoidance of doubt) each Split
      TFMC Welfare Plan is substantially replicated by a TEN Spinoff Welfare Plan, except as otherwise provided on a Country Schedule. From and after the Plan Split Date or Delayed Transfer Date, as applicable, TEN will cause each TEN Spinoff Welfare Plan
      to cover those TEN Employees, Former TEN Employees and their Plan Payees who immediately prior to the Plan Split Date or Delayed Transfer Date were participating in, or entitled to present or future benefits under, the corresponding Split TFMC
      Welfare Plan.  Effective as of the Plan Split Date or Delayed Transfer Date, TFMC will cause TEN Employees (and Former TEN Employees, if applicable) and their Plan Payees to cease to be covered by the TFMC Welfare Plans (including the Split TFMC
      Welfare Plans), except as otherwise provided in the Transition Services Agreement.

     

    

    
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    (b)          Effective as of the applicable Plan Split Date (or the applicable Delayed Transfer Date with respect to any TFMC Transferee), a TFMC Entity will provide all welfare benefits required under applicable Law to
      TFMC Employees and, if necessary, establish certain welfare benefit plans (such plans, the “TFMC Spinoff Welfare Plans”) having terms and features (including benefit coverage options and employer contribution provisions) that are substantially
      similar to one of the corresponding TEN Benefit Plans provided to TFMC Employees or Former TFMC Employees (such TEN Benefit Plans, the “Split TEN Welfare Plans”), such that (for the avoidance of doubt) each Split TEN Welfare Plan is
      substantially replicated by a TFMC Spinoff Welfare Plan, except as otherwise provided on a Country Schedule.  From and after the Plan Split Date or Delayed Transfer Date, as applicable, TFMC will cause each TFMC Spinoff Welfare Plan to cover those
      TFMC Employees, TFMC Former Employees and their Plan Payees who immediately prior to the Plan Split Date or Employment Transfer Date were participating in, or entitled to present or future benefits under, the corresponding Split TEN Welfare Plan.
      Effective as of the Plan Split Date or Employment Transfer Date, TEN will cause TFMC Employees (and Former TFMC Employees, if applicable) and their Plan Payees to cease to be covered by the TEN Welfare Plans (including the Split TEN Welfare Plans),
      except as otherwise provided in the Transition Services Agreement.

     

    

    6.2          Welfare Claims.

     

    

    (a)           The TFMC Group and the TFMC Spinoff Welfare Plans will be solely responsible for all claims incurred by TFMC Employees, TFMC Former Employees and their Plan Payees under the TFMC Spinoff Welfare Plans and
      Split TEN Welfare Plans (except with respect to TEN Severance Benefits, which are covered by Section 2.6(a) or as otherwise provided in the Transition Services Agreement) (“TFMC Welfare Claims”), whether incurred before, on or after
      the Plan Split Date or Delayed Transfer Date, but only to the extent such claims are not otherwise payable under an insurance policy held by the TEN Group. To the extent any TFMC Welfare Claims are payable under an insurance policy held by the TEN
      Group, TEN will take all commercially reasonable actions necessary to process such claim and obtain payment under the applicable insurance policy.

     

    

    (b)          The TEN Group and the TEN Spinoff Welfare Plans will be solely responsible for all claims incurred by TEN Employees, TEN Former Employees, as applicable and their Plan Payees under the TEN Spinoff Welfare
      Plans and Split TFMC Welfare Plans (except with respect to TFMC Severance Benefits, which is covered by Section 2.6(b), or as otherwise provided in the Transition Services Agreement) (“TEN Welfare Claims”), whether incurred before, on
      or after the Plan Split Date or Delayed Transfer Date, but only to the extent such claims are not otherwise payable under an insurance policy held by the TFMC Group. To the extent any TEN Welfare Claims are payable under an insurance policy held by
      the TFMC Group, TFMC will take all commercially reasonable actions necessary to process such claim and obtain payment under the applicable insurance policy.

     

    

    (c)          For purposes of this Article VI, a claim will be deemed “incurred” on (i) the date that the event that gives rise to the claim occurs for purposes of life insurance, severance, sickness, accident,
      disability and hospitalization programs, and (ii) the date that treatment or services are provided for purposes of health care programs other than hospitalization.

     

    

    6.3          Continuation of Elections.

     

    

    (a)          As of the Plan Split Date, or, if later, the applicable Employment Transfer Date, TEN will cause the TEN Spinoff Welfare Plans to recognize elections and designations (including all coverage and contribution
      elections and beneficiary designations, all continuation coverage and conversion elections, and all qualified medical child support orders and other orders issued by courts of competent jurisdiction) in effect with respect to TEN Employees (or Former
      TEN Employees and Plan Payees, if applicable) prior to the Plan Split Date or Employment Transfer Date, as applicable, under the corresponding Split TFMC Welfare Plan, to the extent such elections and designations and orders are applicable to such
      Split TFMC Welfare Plan, and apply and maintain in force comparable elections and designations and orders under the TEN Spinoff Welfare Plans for the remainder of the period or periods for which such elections or designations are by their original
      terms effective, in each case, subject to the terms of the applicable TEN Spinoff Welfare Plans.

     

    

    
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    (b)          As of the Plan Split Date, or Employment Transfer Date, TFMC will cause the TFMC Spinoff Welfare Plans to recognize elections and designations (including all coverage and contribution elections and
      beneficiary designations, all continuation coverage and conversion elections, and all qualified medical child support orders and other orders issued by courts of competent jurisdiction) in effect with respect to TFMC Employees (or Former TFMC
      Employees and Plan Payees, if applicable) prior to the Plan Split Date, or Employment Transfer Date, under the corresponding Split TEN Welfare Plan, to the extent such elections and designations and orders are applicable to such Split TEN Welfare
      Plan, and apply and maintain in force comparable elections and designations and orders under the TFMC Spinoff Welfare Plans for the remainder of the period or periods for which such elections or designations are by their original terms effective, in
      each case, subject to the terms of the applicable TFMC Spinoff Welfare Plans.

     

    

    6.4          Deductibles, Cost-Sharing Provisions, and Coverage Maximums.

     

    

    (a)          As of the Plan Split Date, or, if later, the applicable Employment Transfer Date, TEN will use commercially reasonable efforts to cause the TEN Spinoff Welfare Plans to recognize all amounts applied to
      deductibles, co-payments and out-of-pocket maximums with respect to TEN Employees (and Former TEN Employees and Plan Payees, if applicable) under the corresponding Split TFMC Welfare Plan during the plan year in which the Distribution or Delayed
      Transfer Date occurs, to the same extent recognized under the corresponding Split TFMC Welfare Plan prior to the Plan Split Date or the applicable Employment Transfer Date, and the TEN Spinoff Welfare Plans will not impose any limitations on coverage
      for preexisting conditions other than such limitations as were applicable under the corresponding Split TFMC Welfare Plan prior to the Plan Split Date or the applicable Employment Transfer Date. As of the Plan Split Date, or, if later, the applicable
      Employment Transfer Date, TEN will use commercially reasonable efforts to cause the TEN Spinoff Welfare Plans to recognize all amounts (e.g., days or dollars) accrued towards coverage maximums with respect to TEN Employees (and Former TEN Employees,
      if applicable) under the corresponding Split TFMC Welfare Plan during the plan year in which the Plan Split Date or Employment Transfer Date occurs, to the same extent recognized under the corresponding Split TFMC Welfare Plan prior to the Plan Split
      Date or the applicable Employment Transfer Date.

     

    

    (b)          As of the Plan Split Date, or Employment Transfer Date, TFMC will use commercially reasonable efforts to cause the TFMC Spinoff Welfare Plans to recognize all amounts applied to deductibles, co-payments and
      out-of-pocket maximums with respect to TFMC Employees (and Former TFMC Employees and Plan Payees, if applicable) and their under the corresponding Split TEN Welfare Plan during the plan year in which the Distribution or Employment Transfer Date
      occurs, to the same extent recognized under the corresponding Split TEN Welfare Plan prior to the Plan Split Date or the applicable Employment Transfer Date, and the TFMC Spinoff Welfare Plans will not impose any limitations on coverage for
      preexisting conditions other than such limitations as were applicable under the corresponding Split TEN Welfare Plan prior to the Plan Split Date or the applicable Employment Transfer Date. As of the Plan Split Date, or, if later, the applicable
      Employment Transfer Date, TFMC will use commercially reasonable efforts to cause the TFMC Spinoff Welfare Plans to recognize all amounts (e.g., days or dollars) accrued towards coverage maximums with respect to TFMC Employees (and Former TFMC
      Employees, if applicable) under the corresponding Split TEN Welfare Plan during the plan year in which the Plan Split Date or Employment Transfer Date occurs, to the same extent recognized under the corresponding Split TEN Welfare Plan prior to the
      Plan Split Date or the applicable Employment Transfer Date.

      

    

    
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    6.5          Workers’ Compensation.  If a workers’ compensation claim relating to an employee transferred under Section 2 is insured, then the party holding the insurance (the “Insured Party”) that covers
      such workers’ compensation claim will be responsible for such claim, regardless of when the Workers’ Compensation Events to which such claims relate occurred.  To the extent any such Losses are payable under an insurance policy held by the Insured
      Party, then the Insured Party will use reasonable best efforts to take all actions necessary to obtain payment of such Losses under the applicable insurance policy. The Insured Party will have sole authority for administering, making decisions with
      respect to, and paying covered workers’ compensation claims with respect to Workers’ Compensation Events occurring before the Employment Transfer Date, subject to the prior consent of the other Party, which consent shall not be unreasonably
      withheld.  The consent described in the immediately preceding sentence will be evidenced in writing with respect to any decision relating to (a) the settlement of a workers’ compensation claim, (b) the designation of an “allowed condition,” or (c)
      the administration of ongoing litigation.  The other Party will, and will cause any other Affiliate (and each of their respective successors and assigns) to, jointly and severally indemnify, defend and hold harmless the Insured Party and each of the
      Insured Party’s Affiliates and each of their respective successors and assigns from and against any and all Losses incurred arising out of or in connection with a workers’ compensation claim in excess of those covered by the insurance policy and
      relating to Workers’ Compensation Events occurring prior to the Employment Transfer Date by its respective employees or former employees (i.e., if TEN is the Insured Party, TFMC will indemnify TEN and its Affiliates for TFMC Employees and Former TFMC
      Employees, and if TFMC is the Insured Party, TEN will indemnify TFMC and its Affiliates for TEN Employees and Former TEN Employees).  If any workers’ compensation claim is not insured, then such claim will be treated as an employment related
      litigation claim under Section 1.4.

     

    

    ARTICLE VII.

      TECHNIPFMC EQUITY COMPENSATION AWARDS

     

    

    7.1          Outstanding TFMC Equity Compensation Awards.

     

    

    (a)          Effective immediately prior to the Distribution, subject to the terms of this Article VII (including Section 7.6), each TFMC Equity Compensation Award that is held by a TFMC Participant and
      is outstanding as of immediately prior to the Distribution will be adjusted as follows:

     

    

    
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        (i)          TFMC Time-Based RSUs held by each TFMC Participant will be adjusted, effective as of the Distribution Date and immediately prior to the Distribution, pursuant to the adjustment
          provisions of the TFMC LTIP, to be Adjusted TFMC Time-Based RSUs.  Subject to the adjustment provisions of the TFMC LTIP, the Adjusted TFMC Time-Based RSUs will be subject to substantially similar vesting and payment terms that were applicable to
          the respective TFMC Time-Based RSUs immediately prior to the Distribution Date. The number of such Adjusted TFMC Time-Based RSUs that will be held by each such TFMC Participant immediately following such adjustment will be equal to the product
          (rounded down to the nearest whole unit) of (A) the number of such TFMC Time-Based RSUs held by such TFMC Participant immediately prior to the Distribution and (B) the TFMC Adjustment Ratio.

         

        

      

    

    
      
        (ii)         TFMC Performance-Based RSU held by each TFMC Participant will be adjusted, effective as of the Distribution Date and immediately prior to the Distribution, pursuant to the adjustment
          provisions of the applicable TFMC LTIP, to be Adjusted TFMC Performance‐Based RSUs. Subject to the adjustment provisions of the TFMC LTIP, the Adjusted TFMC Performance-Based RSUs will be subject to substantially similar vesting and payment terms
          that were applicable to the respective TFMC Performance-Based RSUs immediately prior to the Distribution Date, except that each Adjusted TFMC Performance-Based RSU granted in 2019 and 2020 will be modified to remove all performance-based vesting
          conditions (such that each Adjusted TFMC Performance-Based RSU granted in 2019 and 2020 will vest following the Distribution Date solely upon the satisfaction of time-based vesting conditions). The number of such Adjusted TFMC Performance-Based
          RSUs that will be held by each such TFMC Participant immediately following such adjustment will be equal to the product (rounded down to the nearest whole unit) of (A) the target number of such TFMC Performance-Based RSUs held by such TFMC
          Participant immediately prior to the Distribution and (B) the TFMC Adjustment Ratio.

         

        

      

    

    
      
        (iii)        TFMC Options, whether vested or unvested, held by each TFMC Participant will be adjusted, effective as of the Distribution Date and immediately prior to the Distribution, pursuant to
          the adjustment provisions of the TFMC LTIP, to be Adjusted TFMC Options. Subject to the adjustment provisions of the TFMC LTIP, the Adjusted TFMC Options will be subject to substantially similar vesting, exercise and payment terms that were
          applicable to the respective TFMC Options immediately prior to the Distribution Date. The number of such Adjusted TFMC Options that will be held by each such TFMC Participant will be equal to the product (rounded down to the nearest whole share)
          of (A) the number of such TFMC Options held by such TFMC Participant immediately prior to the Distribution and (B) the TFMC Adjustment Ratio.  The exercise price per Adjusted TFMC Option will be equal to the quotient (rounded up to the nearest
          whole cent) of (I) the exercise price of the respective TFMC Option divided by (II) the TFMC Adjustment Ratio.

         

        

      

    

    (b)          Effective immediately prior to the Distribution, subject to the terms of this Article VII (including Section 7.6), each TFMC Equity Compensation Award that is held by a TEN Participant and is
      outstanding as of immediately prior to the Distribution will be adjusted as follows:

     

    

    
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        (i)          After giving effect to Section 7.6, each TFMC Time-Based RSU held by each TEN Participant will be cancelled for no consideration on the Distribution Date.  On or as soon as
          practicable following the Distribution, TEN shall grant to each TEN Participant whose TFMC Time-Based RSUs were cancelled TEN Time-Based RSUs equal to the product (rounded down to the nearest whole unit) of (A) the number of such TFMC Time-Based
          RSUs held by such TEN Participant immediately prior to the Distribution Date and (B) the TEN Adjustment Ratio.  The TEN Time-Based RSUs granted under this Section 7.1(b)(i) will be subject to substantially similar vesting and payment
          terms (subject to any changes made by TEN that are consistent with the TEN LTIP and that do not otherwise require participant consent) that were applicable to the corresponding TFMC Time-Based RSUs immediately prior to the Distribution Date.

         

        

      

    

    
      
        (ii)         After giving effect to Section 7.6, each TFMC Performance-Based RSU held by each TEN Participant will be cancelled for no consideration on the Distribution Date. On or as soon
          as practicable following the Distribution, TEN will grant TEN RSUs (either as TEN Time-Based RSUs or TEN Performance-Based RSUs as described below) to each TEN Participant whose TFMC Performance-Based RSUs were cancelled with the number of such
          TEN RSUs equal to the product (which will be rounded down to the nearest whole unit) of (A) the target number of such TFMC Performance-Based RSUs held by such TEN Participant immediately prior to the Distribution and (B) the TEN Adjustment Ratio.
          Each TEN RSU granted under this Section 7.1(b)(ii) in replacement of TFMC Performance Based RSUs granted in 2019 and 2020 will be granted as a TEN Time-Based RSU which will vest solely upon the satisfaction of the service or time-based
          vesting conditions and will have payment terms (subject to any changes made by TEN that are consistent with the TEN LTIP and that do not otherwise require participant consent) that were applicable to the corresponding TFMC Performance-Based RSUs
          immediately prior to the Distribution Date.  Each TEN RSU granted under this Section 7.1(b)(ii) that is not in replacement of TFMC Performance Based RSUs granted in 2019 and 2020 will be granted as a TEN Performance-Based RSU, subject to
          substantially similar vesting and payment terms (subject to any changes made by TEN that are consistent with the TEN LTIP and that do not otherwise require participant consent) that were applicable to the corresponding TFMC Performance-Based RSUs
          immediately prior to the Distribution Date.

         

        

      

    

    
      
        (iii)       Each TFMC Option that is vested as of immediately prior to the Distribution (after giving effect to Section 7.6) and is held by a TEN Participant will be adjusted, effective as
          of the Distribution Date and immediately prior to the Distribution, pursuant to the adjustment provisions of the TFMC LTIP, to be Adjusted TFMC Options.  The Adjusted TFMC Options will be subject to substantially similar exercise and payment
          terms that were applicable to the respective TFMC Options immediately prior to the Distribution Date. The number of such Adjusted TFMC Options that will be held by each such TEN Participant will be equal to the product (rounded down to the
          nearest whole share) of (A) the number of vested TFMC Options held by such by a TEN Participant immediately prior to the Distribution and (B) the TFMC Adjustment Ratio.  The exercise price per Adjusted TFMC Option will be equal to the quotient
          (rounded up to the nearest whole cent) of (I) the exercise price of the respective TFMC Option divided by (II) the TFMC Adjustment Ratio. From and after the Distribution, each of TFMC and TEN shall
          cooperate in good faith to facilitate the orderly administration of the Adjusted TFMC Options held by TEN Participants, including, without limitation, the sharing of information relating to tax withholding, remittance and reporting and compliance
          with applicable Law.

         

        

        
          15

          
            

        

      

    

    
      
        (iv)        Each TFMC Option held by a TEN Participant that is not vested on the Distribution Date will be cancelled for no consideration on the Distribution Date.  On or as soon as practicable
          following the Distribution, TEN will grant TEN Options to each TEN Participant whose TFMC Options were cancelled with the number of such TEN Options to be equal to the product (rounded down to the nearest whole share) of (A) the number of
          unvested TFMC Options held by such TEN Participant immediately prior to the Distribution and (B) the TEN Adjustment Ratio.  The exercise price per TEN Option will be equal to the quotient (rounded up to the nearest whole cent) of (I) the exercise
          price of the respective TFMC Option divided by (II) the TEN Adjustment Ratio. The TEN Options will be subject to substantially similar vesting and payment terms (subject to any changes made by TEN that
          are consistent with the TEN LTIP and that do not otherwise require participant consent) that were applicable to the respective TFMC Options immediately prior to the Distribution Date.

         

        

      

    

    
      
        (v)         Each TFMC Time-Based RSU held by each TEN Director will be cancelled for no consideration on the Distribution Date.  As soon as practical following the Distribution, TEN shall grant
          each TEN Director TEN Time-Based RSUs in accordance with TEN’s director remuneration policy in payment of all director equity grants for service to both TEN and TFMC in 2021.  Each TFMC Vested Director RSU will be settled either (a) after a
          period of one (1) to ten (10) years from the grant date or (b) upon the applicable TEN Director’s separation of service from the TFMC board, as previously elected by the applicable TEN Director in accordance with the terms of the TFMC Vested
          Director RSUs.

         

        

      

    

    (c)          Prior to the Distribution Date, TEN will establish equity compensation plans, including the TEN LTIP, so that upon the Distribution, TEN will have in effect an equity compensation plan that allows grants of
      equity compensation awards subject to substantially the same terms as those that apply to the applicable TFMC Equity Compensation Awards (including the TEN Time-Based RSUs and TEN Options, as contemplated by Section 7.1(b) above). From and
      after the Distribution Date, each TEN Equity Compensation Award will be subject to the terms of the applicable TEN equity compensation plan, the award agreement and such other applicable writings governing such TEN Equity Compensation Award and any
      Employment Agreement to which the applicable holder is a party. From and after the Distribution Date, (i) TEN will retain, pay, perform, fulfill and discharge all Liabilities arising out of or relating to the TEN Equity Compensation Awards, which
      will constitute TEN Employee Liabilities for purposes of this Employee Matters Agreement, and (ii) TFMC will retain, pay, perform, fulfill and discharge all Liabilities arising out of or relating to the TFMC Equity Compensation Awards, which will
      constitute TFMC Employee Liabilities for purposes of this Employee Matters Agreement.

     

    

    
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    7.2          Conformity with Laws. Notwithstanding anything to the contrary in this Employee Matters Agreement, (i) to the extent any of the provisions in this Article VII (or any equity award described
      herein) do not conform with applicable Laws (including provisions for the collection of withholding taxes), such provisions shall be modified to the extent necessary to conform with such Laws in such manner as is equitable and to preserve the intent
      hereof, as determined by the parties in good faith, and (ii) the provisions of this Article VII may be modified, as mutually agreed by the parties, to the extent necessary to avoid undue cost or administrative burden arising out of the
      application of this Article VII to awards subject to Laws.

     

    

    7.3          Tax Withholding and Reporting.

     

    

    (a)          Except as otherwise required by applicable Law, the appropriate member of the TFMC Group will be responsible for all payroll taxes, withholding and reporting with respect to TFMC Equity Compensation Awards
      held by TFMC Employees, Former TFMC Employees, TEN Employees and Former TEN Employees.  Except as otherwise required by applicable Law, the appropriate member of the TEN Group will be responsible for all payroll taxes, withholding and reporting with
      respect to TEN Equity Compensation Awards held by TEN Employees.

     

    

    (b)          If TFMC or TEN determines in its reasonable judgment that any action required under this Article VII will not achieve the intended tax, accounting and legal results, including, without limitation,
      the intended results under Code Section 409A or FASB ASC Topic 718 – Stock Compensation, then at the request of TFMC or TEN, as applicable, TFMC and TEN will mutually cooperate in taking such actions as are necessary or
      appropriate to achieve such results, or most nearly achieve such results if the originally-intended results are not fully attainable.

     

    

    (c)           Tax deductions with respect to TFMC Equity Compensation Awards and TEN Equity Compensation Awards will be allocated in accordance with the Tax Matters Agreement.

     

    

    7.4          Employment Treatment.

     

    

    (a)          On the Distribution Date each TEN Employee and Former TEN Employee, other than a TEN Transferee will be deemed to have terminated employment with the TFMC Group and will cease vesting in any TFMC Equity
      Compensation Award.  For purposes of this Article VII only, if an individual is a TEN Transferee, such individual’s employment will be considered to have terminated his or her employment on his or her Delayed Transfer Date.

     

    

    (b)          If, after the Distribution Date, TFMC or TEN identifies an administrative error in the individuals identified as holding TFMC Equity Compensation Awards and TEN Equity Compensation Awards, the amount of such
      awards so held, the forfeiture of any such awards, vesting level of such awards, or any other similar error, TFMC and TEN will mutually cooperate in taking such actions as are necessary or appropriate to place, as nearly as reasonably practicable,
      the individual and TFMC and TEN in the position in which they would have been had the error not occurred.

     

    

    7.5          Registration. TEN will register the TEN Shares relating to the TEN Equity Compensation Awards and make any necessary filings with the appropriate Governmental Entities as required under securities
      Laws.

     

    

    
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    7.6          Accelerated Vesting.  Notwithstanding anything herein to the contrary, each TFMC Time-Based RSU and TFMC Performance-Based RSU that (i) would otherwise vest within one (1) year following the
      Distribution Date that is not a Section 409A Award, and (ii) that is held by (A) any TFMC Participant, other than TFMC Participants who are members of the Board of Directors of TFMC or a TFMC Executive Leadership Team member, or
      (B) a TEN Participant (which for sake of clarity does not include any TEN Director), shall accelerate and vest in full prior to or on the Distribution Date, with the number of TFMC Performance-Based RSUs vesting measured based on the level of
      achievement realized against the performance criteria applicable to TFMC Performance-Based RSUs immediately prior to such acceleration.

     

    

    ARTICLE VIII.

      BENEFIT PLAN TRANSITION SERVICES,

      BENEFIT PLAN THIRD-PARTY CLAIMS

     

    

    8.1          General Principles. From and after the Distribution Date, any services that a TEN Entity will provide to the members of the TFMC Group or that a TFMC Entity will provide to the members of the TEN
      Group relating to any Benefit Plans will be set forth in the Transition Services Agreements (and, to the extent provided therein, a TEN Entity or a TFMC Entity will provide administrative services referred to in this Employee Matters Agreement).

     

    

    8.2          Benefit Plan Third-Party Claims. Any Third-Party Claim relating to the matters addressed in this Employee Matters Agreement shall be governed by the applicable provisions of the Separation Agreement.

     

    

    ARTICLE IX.

      INDEMNIFICATION

     

    

    9.1          Indemnification. All TEN Employee Liabilities or any other Liabilities retained or assumed by or allocated to TEN or the TEN Group pursuant to this Employee Matters Agreement will be deemed to be
      Liabilities for which the TFMC Indemnitees shall be indemnified pursuant to Section 3.3 of the Separation Agreement, and all TFMC Employee Liabilities or any other Liabilities retained or assumed by or allocated to TFMC or the TFMC Group
      pursuant to this Employee Matters Agreement will be deemed to be Liabilities for which the TEN Indemnitees shall be indemnified by TFMC pursuant to Section 3.2 of the Separation Agreement. This indemnification shall be governed by the
      applicable indemnification terms of the Separation Agreement.

     

    

    ARTICLE X.

      ADDITIONAL COVENANTS

     

    

    10.1        Cooperation. Following the date of this Employee Matters Agreement, TFMC and TEN will, and will cause their respective Subsidiaries, agents and vendors to, use commercially reasonable efforts to
      cooperate with respect to any employee compensation, benefits or human resources systems matters that TFMC or TEN, as applicable, reasonably determines require the cooperation of both TFMC and TEN in order to accomplish the objectives of this
      Employee Matters Agreement.  Without limiting the generality of the preceding sentence, (a) TFMC and TEN will cooperate in coordinating each of their respective payroll systems in connection with the transfers of TFMC Employees to the TFMC Group and
      the Distribution, (b) TFMC and TEN will, and will cause its Subsidiaries to, transfer records as reasonably necessary for the proper administration of the other’s respective Benefit Plans, to the extent such records are in TFMC’s or TEN’s possession,
      (c) TFMC and TEN will share, with each other and with their respective agents and vendors (without obtaining releases), all employee, participant and beneficiary information necessary for the efficient and accurate administration of the Benefit
      Plans, and (d) TFMC and TEN will share such information as is necessary to administer equity awards pursuant to Article VII, to provide any required information to holders of such equity awards, and to make any governmental filings with
      respect thereto.

     

    

    
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    10.2        Vendor Contracts. Prior to the Distribution, TFMC and TEN will use reasonable best efforts to (a) negotiate with the current Third Party providers to separate and assign the applicable rights and
      obligations under each group insurance policy, health maintenance organization, administrative services contract, Third Party administrator agreement, letter of understanding or arrangement that pertains to one or more TFMC Benefit Plans and one or
      more TEN Benefit Plans (each, a “Vendor Contract”) to the extent that such rights or obligations pertain to Employees and their respective Plan Payees or, in the alternative, to negotiate with the current Third Party providers to provide
      substantially similar services to the TEN Benefit Plans or TFMC Benefit Plans on substantially similar terms under separate contracts with TEN, TFMC, the TEN Benefit Plans or the TFMC Benefit Plans, as applicable and (b) to the extent permitted by
      the applicable Third Party provider, obtain and maintain pricing discounts or other preferential terms under the Vendor Contracts.

     

    

    10.3        Data Privacy. The parties agree that any applicable data privacy Laws and any other obligations of the TEN Group and the TFMC Group to maintain the confidentiality of any employee information or
      information held by any benefit plans in accordance with applicable Law will govern the disclosure of employee information among the parties under this Employee Matters Agreement.  TEN and TFMC will ensure that they each have in place appropriate
      technical and organizational security measures to protect the personal data of the TEN Employees, Former TEN Employees, TFMC Employees and Former TFMC Employees.

     

    

    ARTICLE XI.

      DISPUTE RESOLUTION

     

    

    11.1        Dispute Resolution.  Any and all disputes, controversies and claims arising hereunder, including with respect to the validity, interpretation, performance, breach or termination of this Employee
      Matters Agreement shall be resolved through the procedures provided in Article VI of the Separation Agreement.

     

    

    ARTICLE XII.

    MISCELLANEOUS

     

    

    12.1        General.  The provisions of Article VIII of the Separation Agreement are hereby incorporated by reference into and deemed part of this Employee Matters Agreement and shall apply,
      mutatis mutandis, as if fully set forth in this Employee Matters Agreement.

     

    

    12.2        Termination.  In the event the Separation Agreement is terminated, this Employee Matters Agreement shall automatically become null and void and no Party, nor any Party’s directors, officers or
      employees, shall have any Liability of any kind to any Person by reason of this Employee Matters Agreement.  After the Distribution, this Employee Matters Agreement may not be terminated except by an agreement in writing signed by TFMC and TEN.

     

    

    
      19

      
        

    

    12.3        Defined Terms.  Capitalized terms used and not otherwise defined herein shall have the meanings specified or referred to in Annex I.

     

    

    12.4        Other Agreements.  Except as expressly set forth herein, this Employee Matters Agreement is not intended to address, and should not be interpreted to address, the matters specifically and expressly
      covered by the Separation Agreement or the other Ancillary Agreements.

     

    

    
      20

      
        

    

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

     

    

    
      	 	
              TECHNIPFMC PLC

            
	 	

            
	 	
              By:

            	

            	 
	 	
              Name:

            	

            	 
	 	
              Title:

            	

            	 

    

    

    [Signature Page to Employee Matters Agreement]

     

    

    
      
        

    

     

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

    

    

    
      	 	TECHNIP ENERGIES B.V.
	 	 	 	 
	 	
              By:

            	

            	 
	 	
              Name:

            	

            	 
	 	
              Title:

            	

            	 

    

    

    

    
      [Signature Page to Employee Matters Agreement]

       

      

      
        
          

      

    

    ANNEX I

      DEFINED TERMS

     

    

    “Action” has the meaning set forth in the Separation Agreement.

     

    

    “Adjusted TFMC Options” means an option to purchase TFMC Shares granted under the TFMC LTIP resulting from the adjustment of TFMC Options as described in Section 7.1(a)(iii) and Section 7.1(b)(iii).

     

    

    “Adjusted TFMC Performance-Based RSU” means a performance-based restricted stock unit award granted under the TFMC LTIP with respect to TFMC Shares resulting from the adjustment of TFMC Performance-Based RSUs as
      described in Section 7.1(a)(ii).

     

    

    “Adjusted TFMC Time-Based RSU” means a time-based restricted stock unit award granted under the TFMC LTIP with respect to TFMC Shares resulting from the adjustment of TFMC Time‐Based RSUs as described in Section

        7.1(a)(i).

     

    

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

     

    

    “Ancillary Agreements” has the meaning set forth in the Separation Agreement.

     

    

    “Benefit Plan” means, with respect to an entity, each plan, program, policy, agreement, arrangement or understanding that is maintained primarily for the benefit of employees and is a compensation, deferred
      compensation, incentive bonus or other bonus, pension, profit sharing, savings, retirement, severance pay, end of service gratuity, jubilee, salary continuation, life, death benefit, health, hospitalization, sick leave, vacation or other paid time
      off, disability or accident insurance or other employee benefit plan, program, policy, agreement or arrangement, including any “employee benefit plan” (as defined in Section 3(3) of ERISA, whether or not subject to ERISA), that
      is sponsored, maintained or contributed to by such entity or to which such entity is a party or under which such entity has any Liability or obligation; provided that in no event shall any TFMC Equity Compensation Award or TEN Equity
      Compensation Award, nor any plan under which any such award is granted (including the TFMC LTIP or the TEN LTIP), constitute a “Benefit Plan” under this Employee Matters Agreement. In addition, no Employment Agreement will constitute a Benefit
      Plan for purposes hereof.

     

    

    “Bonus Plan” means the TFMC Annual Incentive Compensation Plan and each other plan or arrangement (other than an Employment Agreement) under which a TEN Employee or a TFMC Employee may earn an annual cash
      incentive.

     

    

    “Code” means the U.S. Internal Revenue Code of 1986, as amended.

     

    

    “Collective Bargaining Agreement” means any collective bargaining or similar agreement with any labor or trade union, works council or trade representative that governs the terms and conditions of employment of
      Employees, including those that arise by virtue of TFMC, TEN or their respective Affiliate’s membership in a union or participation in a particular trade, industry or economic sector.

     

    

    
      23

      
        

    

    “Country Schedule” means a schedule to this Employee Matters Agreement, applicable to the Employees employed in that country.

     

    

    “Delayed Transfer Date” means the date on which a Delayed Transfer Employee actually transfers employment to the TEN Group or the TFMC Group, as applicable.

     

    

    “Delayed Transfer Employee” has the meaning set forth in Section 2.3.

     

    

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

     

    

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

     

    

    “Employee” means a TEN Employee, Former TEN Employee, TFMC Employee and Former TFMC Employee, as applicable.

     

    

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

     

    

    “Employment Agreement” means any individual employment, offer, retention, consulting, change in control, sale bonus, retention bonus, incentive bonus, severance or other individual compensatory agreement entered
      into between any TEN Entity or TFMC Entity, as applicable, and any Employee.

     

    

    “Employment Transfer Date” means (i) the date the employment of any TEN Employee is transferred from any member of the TFMC Group to the TEN Group, (ii) the date the employment of any TFMC Employee is transferred
      from any member of the TEN Group to the TFMC Group, and (iii) for each Delayed Transfer Employee the Delayed Transfer Date.

     

    

    “ERISA” means the Employee Retirement Income Security Act of 1974, as amended.

     

    

    “Exchange Rate” means the exchange rate between U.S. Dollars and Euros published on Bloomberg at 5:00 pm, Eastern time, on the day before the relevant date, or in The Wall Street
        Journal on such date if not so published on Bloomberg.

     

    

     “Former TEN Employee” means any individual (A) (i) who on or before the close of business on the Distribution Date retired or otherwise separated from service from TFMC and its Affiliates, and (ii) whose last day
      of employment with TFMC and its Affiliates prior to the close of business on the Distribution Date was with the TEN Business (including each of the employees that is a claimant under the TEN Actions included on Schedule I.B to the Separation
      Agreement) or (B) who is determined to be a Former TEN Employee pursuant to Section 2.1(d) hereof.

     

    

    “Former TFMC Employee” means any individual (A) who (i) on or before the close of business on the Distribution Date retired or otherwise separated from service from TFMC and its Affiliates, and (ii) is not a
      Former TEN Employee or (B) who is determined to be a Former TFMC Employee pursuant to Section 2.1(d) hereof.

     

    

    “Group” means the TFMC Group or the TEN Group, as the context requires.

     

    

    
      24

      
        

    

    “Governmental Entity” has the meaning set forth in the Separation Agreement.

     

    

    “Law” has the meaning set forth in the Separation Agreement.

     

    

    “Liabilities” has the meaning set forth in the Separation Agreement.

     

    

    “Listing Date” means the first date on which a share of TEN Shares begins trading separately from TFMC Shares on Euronext Paris.

     

    

    “Losses” has the meaning set forth in the Separation Agreement.

     

    

    “Person” has the meaning set forth in the Separation Agreement.

     

    

    “Plan Payee” means, as to an individual who participates in a Benefit Plan, such individual’s dependents, beneficiaries, alternate payees and alternate recipients, as applicable under such Benefit Plan.

     

    

    “Plan Split Date” means the date each Benefit Plan is split in accordance with Articles V or VI as applicable, which shall occur on or before the Distribution Date (unless otherwise provided in Articles

        V or VI or mutually agreed between the parties).

     

    

    “Pre-Distribution Action” means an Action by any Third Party with respect to a Split Plan, TFMC Employee, Former TFMC Employee, TEN Employee, or Former TEN Employee that arises from an act, omission, or event that
      occurred prior to the Distribution.

     

    

    “Section 409A Award” means a TFMC Equity Compensation Award that is treated as non-qualified deferred compensation subject to Section 409A of the Code.

     

    

    “Separation Agreement” has the meaning set forth in the Recitals.

     

    

    “Split Plan” means any Split TEN Retirement Plan, Split TEN Welfare Plan, Split TFMC Retirement Plan or Split TFMC Welfare Plan, as applicable.

     

    

    “Split TEN Retirement Plans” has the meaning set forth in Section 5.2(a)(ii).

     

    

    “Split TEN Welfare Plans” has the meaning set forth in Section 6.1(b).

     

    

    “Split TFMC Retirement Plans” has the meaning set forth in Section 5.2(a)(i).

     

    

    “Split TFMC Welfare Plans” has the meaning set forth in Section 61(a).

     

    

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

     

    

    “Tax” has the meaning set forth in the Separation Agreement.

     

    

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

     

    

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

     

    

    
      25

      
        

    

    “TEN Adjustment Ratio” means the ratio obtained by dividing (a) the closing sale price of TFMC Shares on the New York Stock Exchange on the last date on which the TFMC Shares are traded “regular way” prior to the
      Distribution Date, as reported by Bloomberg L.P. or any successor thereto and converted to Euros based on the Exchange Rate by (b) the closing sale price of TEN Shares on Euronext Paris on the Listing Date, as reported by Bloomberg L.P. or any
      successor thereto,

     

    

    “TEN Benefit Plan” means any Benefit Plan sponsored, maintained or contributed to by any member of the TEN Group.  For the avoidance of doubt, no member of the TEN Group will be deemed to sponsor, maintain or
      contribute to any Benefit Plan if its relationship to such Benefit Plan is solely to administer such Benefit Plan or provide to the TFMC Group any reimbursement in respect of such Benefit Plan.

     

    

    “TEN Business” has the meaning set forth in the Separation Agreement.

     

    

    “TEN Compensation Committee” means the committee of the Board of Directors of TEN with the authority to administer and make grants under the TEN LTIP.

     

    

    “TEN Director” means each member of the Board of Directors of TEN who was also a member of the Board of Directors of TFMC.

     

    

    “TEN Employee” means each individual who, as of the close of business on the Distribution Date, is employed by a TEN Entity (including, for the avoidance of doubt, any such individual who is on a leave of absence,
      whether paid or unpaid). TEN Employees also include TEN Transferees, effective as of the applicable Delayed Transfer Date.

     

    

    “TEN Employee Liabilities” has the meaning set forth in Section 1.2.

     

    

    “TEN Employment Agreement” has the meaning set forth in Section 2.5.

     

    

    “TEN Entity” means a member of the TEN Group.

      

    

    “TEN Equity Compensation Award” means each TEN RSU or TEN Option.

     

    

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

     

    

    “TEN LTIP” means the TEN Incentive Award Plan and any stock-based or other incentive plan adopted by TEN before the Distribution Date.

     

    

    “TEN Option” means each outstanding option to purchase TEN Shares under the TEN LTIP as described in Section 7.1(b)(iv).

     

    

    “TEN Participants” means each TEN Employee who, immediately prior to the Distribution Date, holds a TFMC Equity Compensation Awards, or a beneficiary, dependent or alternate payee of such person.

     

    

    “TEN RSU” means a restricted stock unit award with respect to TEN Shares outstanding under the TEN LTIP as described in Section 7.1(b).

     

    

    
      26

      
        

    

    “TEN Performance-Based RSU” means a TEN RSU that vests in part based on the satisfaction of one or more performance criteria.

     

    

    “TEN Severance Benefits” has the meaning set forth in Section 2.6(b).

     

    

    “TEN Spinoff Retirement Plans” has the meaning set forth in Section 5.1(a).

     

    

    “TEN Spinoff Welfare Plan” has the meaning set forth in Section 6.1(a).

     

    

    “TEN Shares” means the ordinary shares, a nominal value of €0.01 per share, of TEN.

     

    

    “TEN Time-Based RSU” means a TEN RSU that vests solely based on continued employment or the passage of time.

     

    

    “TEN Transferee” means a Delayed Transfer Employee who transfers from the TFMC Group to the TEN Group.

      

    

    “TEN Vested Director RSU” means a restricted stock unit that is granted to a TEN Director under Section 7.1(b)(v).

     

    

    “TEN Welfare Claims” has the meaning set forth in Section 6.2(b).

     

    

    “TEN Welfare Plan” means each TEN Benefit Plan that is a Welfare Plan.

     

    

    “TEN Workers’ Compensation Claim” has the meaning set forth in Section 6.5.

      

    

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

     

    

    “TFMC Adjustment Ratio” means the ratio obtained by dividing (a) the closing sale price of TFMC Shares solely on the New York Stock Exchange on the last date on which the TFMC Shares are traded “regular way” prior
      to the Distribution Date, as reported by Bloomberg L.P. or any successor thereto by (b)  the closing sale price of TFMC Shares solely on the New York Stock Exchange on the Listing Date (as traded on the “regular way” market) as reported by Bloomberg
      L.P. or any successor thereto.

     

    

    “TFMC Benefit Plans” means any Benefit Plan that is sponsored, maintained or contributed to by any member of the TFMC Group.  For the avoidance of doubt, no member of the TFMC Group will be deemed to sponsor,
      maintain or contribute to any Benefit Plan if its relationship to such Benefit Plan is solely to administer such Benefit Plan or provide to TEN any reimbursement in respect of such Benefit Plan.

     

    

    “TFMC Compensation Committee” means the Compensation Committee of the Board of Directors of TFMC.

     

    

    “TFMC Employee” means each individual who, as of the close of business on the Distribution Date, is employed by a TFMC Entity (including, for the avoidance of doubt, any such individual who is on a leave of
      absence, whether paid or unpaid). TFMC Employees also include TFMC Transferees, effective as of the applicable Delayed Transfer Date.

     

    

    
      27

      
        

    

    “TFMC Employee Liabilities” has the meaning set forth in Section 1.1.

     

    

    “TFMC Employment Agreement” has the meaning set forth in Section 2.5.

     

    

    “TFMC Entity” means a member of the TFMC Group.

     

    

    “TFMC Equity Compensation Award” means each TFMC Option, TFMC Performance‐Based RSU and TFMC Time-Based RSU.

     

    

    “TFMC Executive Leadership Team” means each of Doug Pferdehirt, Maryann Mannen, Justin Rounce, Agnieszka Kmieciak, Arnaud Pieton, Barry Glickman, Jon Landes and such other individuals as the TFMC board of
      directors may designate.

     

    

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

     

    

    “TFMC LTIP” means Amended and Restated TFMC plc Incentive Award Plan.

     

    

    “TFMC Option” means each outstanding option to purchase TFMC Shares granted by TFMC under the TFMC LTIP before the Distribution Date.

     

    

    “TFMC Participants” means any TFMC Employee, Former TFMC Employee, Former TEN Employee or current or former member of the TFMC Board of Directors or other current or former consultant or service provider of TFMC
      who, immediately prior to the Distribution Date, holds TFMC Equity Compensation Awards, or a beneficiary, dependent or alternate payee of such person.

     

    

    “TFMC Performance-Based RSU” means a performance-based restricted stock unit award with respect to TFMC Shares granted by TFMC under the TFMC LTIP before the Distribution Date.

     

    

    “TFMC Severance Benefits” has the meaning set forth in Section 2.6(a).

     

    

    “TFMC Spinoff Retirement Plan” has the meaning set forth in Section 5.2(a)(ii).

     

    

    “TFMC Spinoff Welfare Plan” has the meaning set forth in Section 6.1(b).

     

    

    “TFMC Shares” has the meaning set forth in the Separation Agreement.

     

    

    “TFMC Time-Based RSU” means a time-based restricted stock unit award with respect to TFMC Shares granted by TFMC under the TFMC LTIP before the Distribution Date, but not including a TFMC Vested Director RSU.

     

    

    “TFMC Transferee” means a Delayed Transfer Employee who transfers from the TEN Group to the TFMC Group.

     

    

    “TFMC Vested Director RSU” means each restricted stock unit with respect to TFMC Shares granted by TFMC to a TEN Director under the TFMC LTIP that was fully vested immediately prior to the Distribution.

     

    

    
      28

      
        

    

    “TFMC Welfare Claims” has the meaning set forth in Section 6.2(a).

     

    

    “TFMC Welfare Plan” means each TFMC Benefit Plan that is a Welfare Plan.

     

    

    “Third Party” has the meaning set forth in the Separation Agreement.

     

    

    “Third-Party Claim” has the meaning set forth in the Separation Agreement.

     

    

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

     

    

    “Vendor Contract” has the meaning set forth in Section 11.1.

     

    

    “Welfare Plan” means each Benefit Plan that provides life insurance, health care, dental care, vision care, employee assistance programs (EAP), health and dependent care flexible spending accounts, accidental
      death and dismemberment insurance, disability, severance, end of service gratuity, jubilee payment or other group welfare or fringe benefits or is otherwise an “employee welfare benefit plan” as described in Section 3(1) of
      ERISA, whether or not subject to ERISA.

     

    

    “Workers’ Compensation Event” means the event, injury, illness or condition giving rise to a workers’ compensation claim.

    

    

    
      29

      
        

    

    COUNTRY SCHEDULE - AUSTRALIA

     

      

    This Country Schedule-Australia sets forth terms applicable to Employees employed in Australia that differ from the provisions set forth in the Employee Matters Agreement.

     

    

    ARTICLE VI

      WELFARE PLANS

     

      

    6.1          Spinoff.  Notwithstanding the provisions of Articles V or VI of the Employee Matters Agreement, the employing member of the TEN Group need not continue to provide company contributions for
      health insurance premiums to the Health Insurance Fund of Australia (HIF) for any TEN Employee transferred from the TFMC Group.  The employing TEN Group member may instead provide such TEN Employees with a discretionary HIF payment for such period as
      the TEN Employee may accept.

    

    

    
      30

      
        

    

    COUNTRY SCHEDULE - FRANCE

     

      

    This Country Schedule-France sets forth terms applicable to Employees employed in France that differ from the provisions set forth in the Employee Matters Agreement.

     

    

    ARTICLE I

     

      

    1.1          Legal Requirements.  Notwithstanding the provisions of Section 7.3 of the Employee Matters Agreement, the TEN Group member, which is the relevant employer of TEN Employees at the time the
      award plan obligations arise, will be responsible for the payment of all payroll taxes, withholding and reporting with respect to TEN Equity Compensation Awards.

      

    

    ARTICLE V

     

      

    5.1          “Epargne salariale”.  Notwithstanding the provisions of Article V of the Employee Matters Agreement, all and any obligations of
      administration, declaration, pay-out, withholding, set-up of benefit plans and similar in relation to the benefits mentioned in Troisième Partie, Livre III of the
      French Labor Code (Articles L. 3311-1 et seq., including relevant regulatory provisions and circulars) shall be performed by the company that is obligated to do so by Law.1

     

      

    ARTICLE VII

     

      

    7.3          TechnipFMC Equity Compensation Awards.

     

    

    (a)          Notwithstanding the provisions of Section 7.3 of the Employee Matters Agreement, the TechnipFMC Group member or the TEN Group member, which is the relevant employer, or former employer as the case
      may be, of an Employee at the time the award plan obligations arise, will be responsible for the payment of all payroll taxes, withholding and reporting with respect to TechnipFMC Equity Compensation Awards.

    

    

    
      	
              1

            	
              A specific explanation on French profit-sharing plans (participation):

            

    

     

    

    In the relation employer-employee:

     

    

    (a)          Under mandatory French law, in case the benefiting employee transferred from a TechnipFMC Group Affiliate to a TEN Group Affiliate, or vice versa, in application of an Automatic Transfer (see Art. 2.2 of the Employee Matters
      Agreement), such employee will have a claim on the total annual profit-sharing amount against his/her ‘new’ employer;

     

    

    (b)          Under mandatory French law, in case the benefiting employee transferred from a TechnipFMC Group Affiliate to a TEN Group Affiliate in application of a non-Automatic Transfer (see Art. 2.1 of the Employee Matters Agreement), such
      employee will have two separate claims, on a prorata temporis basis, of the two portions of the annual profit-sharing amount, against the ‘old’ and against the ‘new’ employer respectively.

    In the relation TechnipFMC Group - TEN Group:

     

    

    In application of Articles 1.1 and 1.2 of the Employee Matters Agreement, this would generate an indemnification to be calculated and paid post-Distribution Date, in the second case only. From a practical standpoint, we understand that few
      employees are concerned by the second case, most being in the first case (client to confirm).

     

    

    
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    COUNTRY SCHEDULE - UNITED STATES

     

      

    This Country Schedule-United States sets forth terms applicable to Employees employed in the U.S. that differ from the provisions set forth in the Employee Matters Agreement.

     

    

    ARTICLE V

    U.S. TAX-QUALIFIED AND NON-QUALIFIED DEFINED CONTRIBUTION PLANS

     

      

    5.1          US Benefit Plans and US Plan Split Date.  Following the Distribution Date through July 1, 2021 (the “US Plan Split Date”) TEN Employees shall continue to participate in the TFMC Savings and
      Investment Plan (“TFMC 401(k) Plan”) and all TFMC Welfare Plans that provide life insurance, health care, dental care, vision care, employee assistance programs (EAP), health and dependent care flexible spending accounts, accidental death and
      dismemberment insurance, and disability,  pursuant to and subject to the terms of the Transition Services Agreement.

     

    

    5.2          TEN Spinoff 401(k) Plans.

     

    

    (a)          Effective July 1, 2021 (the “DC Plan Split Date”), TEN or another member of the TEN Group will adopt a defined contribution plan that is intended to qualify under Code Section 401(a),
      and a related trust exempt under Code Section 501(a) (such plan and trust, the “TEN 401(k) Plan”). The TEN 401(k) Plan will have terms and features (including employer contribution provisions) that are substantially
      similar to the TFMC 401(k) Plan such that (for the avoidance of doubt) the TFMC 401(k) Plan is substantially replicated by a corresponding TEN 401(k) Plan. A TEN Entity will be solely responsible for taking all necessary, reasonable, and appropriate
      actions (including the submission of the TEN 401(k) Plan to the Internal Revenue Service for a determination of tax-qualified status) to establish, maintain and administer the TEN 401(k) Plan so that it is qualified under Section 401(a)
      of the Code and that the related trusts thereunder are exempt under Section 501(a) of the Code.  Effective as of the DC Plan Split Date, each TEN Employee that was eligible to participate in the TFMC 401(k) Plan will be eligible
      to participate in the TEN 401(k) Plan.  The TEN 401(k) Plan will assume Liability for all benefits accrued or earned (whether or not vested) by TEN Employees and Former TEN Employees, as applicable, under the TFMC 401(k) Plan as of the DC Plan Split
      Date.

     

    

    (b)          On or as soon as reasonably practicable following the DC Plan Split Date (but not later than 30 days thereafter), TFMC or another member of the TFMC Group will cause the TFMC 401(k) Plan to transfer to the
      TEN 401(k) Plan, and TEN or another member of the TEN Group will cause such TEN 401(k) Plan to accept the transfer of, the accounts, Liabilities and related assets in the TFMC 401(k) Plan attributable to TEN Employees and Former TEN Employees, if
      applicable, and their respective Plan Payees. The transfer of assets will be in cash or in kind (as determined by TFMC) and include outstanding loan balances in accordance with Code Section 414(l) and Treasury Regulation Section
          1.414(l)-1 and Section 208 of ERISA.

     

    

    (c)          On or as soon as reasonably practicable following the Delayed Transfer Date  (if later than the DC Plan Split Date) (but not later than 30 days thereafter), a TEN Entity will cause the accounts, related
      Liabilities, and related Assets in the TEN 401(k) Plan attributable to any TFMC Transferees and their respective Plan Payees (including any outstanding loan balances) to be transferred in cash in accordance with Code Section 414(l)
      and Treasury Regulation Section 1.414(l)-1 and Section 208 of ERISA to the applicable TEN Plan. TFMC or another member of the TFMC Group will cause the TFMC 401(k) Plan to accept such transfer of accounts,
      liabilities and assets.

     

    

    
      32

      
        

    

    (d)          From and after the DC Plan Split Date, except as specifically provided in paragraph (c) above, (i) TEN and the TEN Group will be solely and exclusively responsible for all obligations and liabilities with
      respect to, or related to, benefits under the TEN 401(k) Plan, whether accrued before, on or after the DC Plan Split Date and (ii) TFMC and the TFMC Group will be solely and exclusively responsible for all obligations and liabilities with respect to,
      or related to, benefits under the TFMC 401(k) Plan, whether accrued before, on or after the DC Plan Split Date.

      

    

    (e)          Between the Distribution Date and the DC Plan Split Date, TEN will adopt the TFMC 401(k) Plan and the TFMC 401(k) Plan will become a multiple employer plan.

     

    

    5.3          Non-Qualified Defined Contribution Plan.

     

    

    (a)          On or as soon as reasonably practicable following the DC Plan Split Date (but not later than 30 days thereafter), TEN or another member of the TEN Group will cause the Technip USA Executive Retirement Plan
      (the “TEN Executive Retirement Plan”) to transfer to the TechnipFMC Non-Qualified Savings and Investment Plan (the “TFMC Excess Benefit Plan”), and TFMC or another member of the TFMC Group will cause such TFMC Excess Benefit Plan to
      accept the transfer of, the accounts, Liabilities and related assets in the TEN Executive Retirement Plan attributable to TFMC Employees and Former TFMC Employees, if applicable, and their respective Plan Payees. The transfer of any assets will be in
      cash and, once transferred, such accounts, Liabilities and related assets will vest in accordance with the terms of the TFMC Excess Benefit Plan as non-elective contributions thereunder.

     

    

    (b)          From and after the DC Plan Split Date, except as specifically provided in paragraph (a) above, (i) TEN and the TEN Group will be solely and exclusively responsible for all obligations and liabilities with
      respect to, or related to, benefits under the TEN Executive Retirement Plan, whether accrued before, on or after the DC Plan Split Date and (ii) TFMC and the TFMC Group will be solely and exclusively responsible for all obligations and liabilities
      with respect to, or related to, benefits under the TFMC Excess Benefit Plan, whether accrued before, on or after the DC Plan Split Date.

      

    

    5.4          Compliance with Section 409A.  TFMC and TEN will cooperate in good faith so that the Distribution will not result in adverse Tax consequences under Code Section 409A to any TFMC
      Employee, TEN Employee, Former TFMC Employee or Former TEN Employee, or their respective Plan Payees, in respect of his or her benefits under any TFMC Benefit Plan or TEN Benefit Plan.

     

    

    
      33

      
        

    

    ARTICLE VI

    U.S. WELFARE BENEFITS

     

      

    6.1          Flexible Spending Account Treatment

     

      

    (a)          Notwithstanding anything in Sections 6.1 and 6.2 of the Employee Matters Agreement to the contrary, with respect to the portion of a TFMC Split Welfare Plan that consists of medical and
      dependent care flexible spending accounts under Sections 125 and 129 of the Code (the “TFMC Flexible Account Plan”), the corresponding TEN Welfare Plan (the “TEN Flexible Account Plan”) will be
      responsible for reimbursement of all previously reimbursable medical expense and dependent care claims incurred by TEN Employees (and Former TEN Employees, if applicable) following the U.S. Plan Split Date for the year in which the Distribution Date
      or the applicable Delayed Transfer Date occurs. The parties will cooperate in good faith to cause the TEN Flexible Account Plan to give effect to the elections of TEN Employees (and Former TEN Employees, if applicable) that were in effect under the
      corresponding TFMC Flexible Account Plan as of the US Plan Split Date or, if later, the Delayed Transfer Date, subject to the terms of the TEN Flexible Account Plan. Notwithstanding the foregoing, if a Delayed Transfer Employee returning from
      disability leave has no election in place under the TFMC Flexible Account Plan, such employee may make a new election under the TEN Flexible Account Plan as of the Delayed Transfer Date, subject to the terms of the TEN Flexible Account Plan.

     

    

    (b)          The parties shall take all actions reasonably necessary or appropriate so that the account balances (positive or negative) under the TFMC Flexible Account Plan of each TEN Employee (or Former TEN Employee,
      if applicable) who has elected to participate therein in the year in which the Distribution Date or the applicable Delayed Transfer Date occurs shall be transferred, effective as of the US Plan Split date or, if later, the Delayed Transfer Date, as
      applicable, from the TFMC Flexible Account Plan to the corresponding TEN Flexible Account Plan.  As soon as practicable after the end of the TFMC Flexible Account Plan’s plan year TFMC shall pay TEN the net aggregate amount of such transferred 
      account balances, if such amount is positive, and TEN shall pay TFMC the net aggregate amount of such transferred account balances, if such amount is negative.

     

    

    6.6          COBRA.  Effective as of the US Plan Split Date or, if later, the Delayed Transfer Date, a TEN Entity will assume or will cause the TEN Spinoff Welfare Plans to assume sole responsibility for compliance with
      the continuation coverage requirements under Code Section 4980B and ERISA Sections 601-608 (“COBRA”) after the US Plan Split Date or, if later, the Delayed Transfer Date for all TEN Employees and their
      “qualified beneficiaries” for whom a “qualifying event” occurs on or after the Distribution Date or the Delayed Transfer Date; provided, however, that a TFMC Entity will be responsible for furnishing any election notice required under COBRA to any
      TEN Transferee. TFMC, the TFMC Group, or a Split Welfare Plan will remain solely responsible for compliance with COBRA before, on and after the US Plan Split Date or, if later, the Delayed Transfer Date for TFMC Employees, Former TFMC Employees,
      Former TEN Employees and their “qualified beneficiaries”; provided, however, that a TEN Entity will be responsible for furnishing any election notice required under COBRA to any TFMC Transferee. The terms “qualified beneficiaries” and “qualifying
      event” will have the meanings given to them under Code Section 4980B and ERISA Sections 601-608. For the avoidance of doubt, Section 5.1(a) of the Employee Matters Agreement will govern
      whether the TEN Spinoff Welfare Plans or Split Welfare Plans are responsible for claims incurred by TEN Employees or their qualified beneficiaries while receiving continuation coverage under COBRA. The parties agree that neither the Separation, the
      Distribution nor any assignment or transfer of the employment or services of any Employee as contemplated under this Employee Matters Agreement shall constitute a “qualifying event” for any purpose of COBRA.

     

    

    

    34Exhibit 10.4

      

      
        
          
            

               

          

          
            
TRANSITION SERVICES AGREEMENT

           

         
         

           

         
        by and between

         
         

           

         
        TECHNIPFMC PLC

         
         

           

         
        AND

         
         

           

         
        TECHNIP ENERGIES N.V.

         
         
           

            

           
          Dated as of [ ● ], 2020

            
            

            

            

               

        

        
          
            

        

        
        TABLE OF CONTENTS

        

        
        	 	 	 	
                Page

              
	
                Article I. SERVICES

              	
                3

                

              
	 	 	 
	 	
                1.1

              	
                Provision of Services

              	
                3

                

              
	 	
                1.2

              	
                Service Modifications and Additional Services

              	
                5

                

              
	 	
                1.3

              	
                Service Standards

              	
                6

                

              
	 	 	 	 
	
                Article II. FEES AND PAYMENT

              	
                6

                

              
	 	 	 
	 	
                2.1

              	
                Fees

              	
                6

                

              
	 	
                2.2

              	
                Payment Terms

              	
                7

                

              
	 	
                2.3

              	
                Taxes

              	
                8

                

              
	 	 	 	 
	
                Article III. TERM AND TERMINATION

              	
                8

                

              
	 	 	 
	 	
                3.1

              	
                Term

              	
                8

                

              
	 	
                3.2

              	
                Service Terms; Extensions

              	
                8

                

              
	 	
                3.3

              	
                Early Termination

              	
                9

                

              
	 	
                3.4

              	
                Termination for Default

              	
                9

                

              
	 	
                3.5

              	
                Effect of Termination

              	
                9

                

              
	 	 	 	 
	
                Article IV. COOPERATION AND ACCESS

              	
                10

                

              
	 	 	 
	 	
                4.1

              	
                Cooperation by Recipient

              	
                10

                

              
	 	
                4.2

              	
                Access to Premises and Systems

              	
                10

                

              
	 	
                4.3

              	
                Compliance with Third Party Vendor Agreements

              	
                10

                

              
	 	 	 	 
	
                Article V. INTELLECTUAL PROPERTY

              	
                10

                

              
	 	 	 
	 	
                5.1

              	
                Ownership of Intellectual Property

              	
                10

                

              
	 	
                5.2

              	
                No Implied License

              	
                11

                

              
	 	 	 	 
	
                Article VI. NO WARRANTIES; LIMITATION OF LIABILITY

              	11

              
	 	 	 
	 	
                6.1

              	
                No Warranties

              	
                11

                

              
	 	
                6.2

              	
                Limitation of Liability

              	
                11

                

              
	 	 	 	 
	
                Article VII. FORCE MAJEURE

              	
                12

              
	 	 
	 	
                7.1

              	
                Force Majeure.

              	
                12

              
	 	 	 	 
	
                Article VIII. CONFIDENTIALITY

              	
                12

                

              
	 	 
	 	
                8.1

              	
                Confidentiality

              	
                12

                

              
	 	
                8.2

              	
                Government Order

              	
                12

                

              

        

           

        
          i

          
            

        

        
        	
                Article IX. DISPUTE RESOLUTION

              	
                13

              
	 	 
	 	
                9.1

              	
                Dispute Resolution.

              	
                13

                

              
	 	 	 	 
	
                Article X. MISCELLANEOUS PROVISIONS

              	
                13

                

              
	 	 	 	 
	 	
                10.1

              	
                Corporate Power

              	
                13

                

              
	 	
                10.2

              	
                Modification or Amendments

              	
                13

                

              
	 	
                10.3

              	
                Waivers of Default

              	
                13

              
	 	
                10.4

              	
                Counterparts

              	
                14

              
	 	
                10.5

              	
                Governing Law

              	
                14

              
	 	
                10.6

              	
                Notices

              	
                14

              
	 	
                10.7

              	
                Entire Agreement

              	
                15

              
	 	
                10.8

              	
                No Third-Party Beneficiaries

              	
                15

              
	 	
                10.9

              	
                Severability.

              	
                15

              
	 	
                10.10

              	
                Interpretation..

              	
                16

              
	 	
                10.11

              	
                Defined Terms

              	
                16

              
	 	
                10.12

              	
                Expenses

              	
                16

              
	 	
                10.13

              	
                No Set-Off

              	
                16

              
	 	
                10.14

              	
                Specific Performance; Other Equitable Relief

              	
                16

              
	 	
                10.15

              	
                Construction

              	
                16

              
	 	
                10.16

              	
                Assignment; Successors and Assigns; No Third Party Beneficiaries

              	
                17

              
	 	
                10.17

              	
                Conflict

              	
                17

              
	 	
                10.18

              	
                Relationship of the Parties

              	
                17

              
	 	
                10.19

              	
                Performance

              	
                17

              
	 	
                10.20

              	
                Compliance with Laws

              	
                18

              
	 	
                10.21

              	
                Other Agreements

              	
                18

              

         

           

        
          ii

          
            

        

        
        TRANSITION SERVICES AGREEMENT

         

           

        This TRANSITION SERVICES AGREEMENT (this “Agreement”), is entered into effective as of  [ ● ] (“Effective Date”), by and between TechnipFMC plc, a public limited company formed under
          the Laws of England and Wales (“TFMC”) and Technip Energies N.V., a public limited liability company formed under the laws of the Netherlands and wholly owned subsidiary of TFMC (“TEN”). TFMC and TEN are each a “Party” and
          are sometimes referred to herein collectively as the “Parties.”

         
         

           

         
        RECITALS

         
         

           

         
        WHEREAS, TFMC, acting together with its subsidiaries, currently conducts the TFMC Business and the TEN Business;

         
         

           

         
        WHEREAS, TFMC and TEN have entered into that certain Separation and Distribution Agreement, dated as of [ ● ] (the “Separation Agreement”) pursuant to which the Separation will be consummated;
          and

         
         

           

         
        WHEREAS, following the Separation, the Parties have agreed that each Party, either itself or through its Subsidiaries, will provide to the other Party and its Subsidiaries certain services on a
          transitional basis to allow the other Party the time to develop the capability to perform such services for itself or to outsource such services to a third-party service provider;

         

           

        NOW, THEREFORE, in consideration of the foregoing and the mutual agreements, provisions and covenants contained in this Agreement, the Parties hereby agree as follows:

         
         

           

         
        ARTICLE I.

          SERVICES

         
         

           

         
        1.1       Provision of Services.

         
         

        

         
        (a) Services Provided by TFMC. 
            Subject to the terms and conditions of this Agreement, TFMC agrees to provide, or cause to be provided, to TEN and its Subsidiaries the Services described on Annex I, solely for purposes of the continued operation of the TEN Business by
            TEN and its Subsidiaries in the ordinary course consistent with how the TEN Business was operated during the one-year period prior to the Effective Date.

         
         

        

         
        (b) Services Provided by TEN. 
            Subject to the terms and conditions of this Agreement, TEN agrees to provide, or cause to be provided, to TFMC and its Subsidiaries the Services described on Annex II, solely for purposes of the continued operation of the TFMC Business
            by TFMC and its Subsidiaries in the ordinary course consistent with how the TFMC Business was operated during the one-year period prior to the Effective Date.

         
         

        

         
        (c) Scope of Services. 
            For the avoidance of doubt, any tasks necessary to accomplish the Services, even if such tasks are not expressly set forth in Annex I or Annex II, shall be deemed to be part of the “Services” to be performed by the applicable
            Provider pursuant to this Agreement, provided that such tasks are an inherent part of the Services described on Annex I or Annex II, as applicable.

         
         

        

        
          3

          
            

        

        (d) Required Consents. 
            Provider shall use commercially reasonable efforts to obtain any third-party consents, approvals or amendments to Provider’s existing third-party agreements that are necessary to allow Provider to provide the Services to Recipient (the “Consents”). 

            Recipient shall pay, or, at Provider’s request, reimburse Provider for, the cost of obtaining the Consents and any fees or charges associated with the Consents, including, but not limited to, any additional license, sublicense, access or
            transfer fees.  Recipient acknowledges that there can be no assurance that Provider will be able to obtain the Consents. In the event that any Consents are not obtained, upon Recipient’s request, Provider will reasonably cooperate with
            Recipient to identify, and if commercially feasible, to implement, a work-around or other alternative arrangement for any affected Service(s), provided that (i) Recipient shall be responsible for all fees and costs associated with any such
            work-around or alternative arrangement, and (ii) Recipient acknowledges that any such work-around or alternative arrangement may adversely impact the Service Standards, and Provider shall not be liable for any breach of the Service Standards
            that results from the adoption of any such work-around or alternative arrangement.  If no commercially feasible alternative for a Service is available or capable of being reasonably implemented, Provider shall be relieved of its obligations to
            provide such Service.

         
         

        

         
        (e) Cutover.  Recipient
            shall be responsible for planning and preparing the transition to its own internal organization or other third-party service providers of the provision of each of the Services provided to it hereunder (the “Cutover”).  At Recipient’s
            request, Provider shall meet with Recipient within ten (10) calendar days following such request to assist Recipient with the initial development of a plan for Cutover (the “Cutover Plan”) and shall provide Recipient with all information
            reasonably requested by it in connection with the development and implementation of the Cutover Plan.  Recipient shall, with Provider’s reasonable assistance, prepare a Cutover Plan with sufficient lead time in order to achieve a timely
            Cutover.  Once the Cutover Plan is prepared, Recipient shall promptly provide Provider a copy of the Cutover Plan, and Provider shall reasonably cooperate and shall use commercially reasonable efforts to cause its third-party vendors to
            reasonably cooperate, at Recipient’s expense, in a timely implementation of the Cutover Plan.

         
         

        

         
        (f) Service and Project
              Managers. Each Party will appoint a manager for each Service (each a “Service Manager”), who shall be responsible for managing the provision of such Service and who shall be the primary contact for any issues relating to that
            Service.  The Parties’ initial Service Managers for each Service are set forth in Annex I and Annex II.  In addition, each Party will appoint a project manager, who shall oversee the Service Managers and ultimately be
            responsible for all day-to-day matters arising hereunder, and who shall be the primary contact for the other Party for any issues arising hereunder that are not covered or resolved by the Service Managers (each a “Project Manager”).  The
            Project Managers shall meet (in person or by telephone) at the request of either Project Manager, in order to ensure the provision of the Services in accordance with the terms hereof, as well as the orderly transition of those Services at the
            end of the applicable Service Term.  TFMC’s initial Project Manager shall be Stevan Verkin and TEN’s initial Project Manager shall be Charles Cessot.  Each Party may change its designated Project Manager upon notice to the other Party’s Project
            Manager. Each Party may change any of its Service Managers upon notice to the other Party’s Project Manager and applicable Service Manager.

         

           

        
          4

          
            

        

        1.2       Service Modifications and Additional Services.

         
         

        

         
        (a) Changes. During the
            Term, the Parties may, in accordance with the procedures specified in this Section 1.2: (i) agree to modify the terms and conditions relating to the performance of a previously agreed-upon Service in order to reflect, among other
            things, new procedures or processes for providing such Service (a “Service Modification”), or (ii) agree upon terms and conditions related to the provision of services that are in addition to any of the previously agreed-upon Services
            and that were utilized in the conduct of the TEN Business or the TFMC Business (as appropriate), prior to Closing (an “Additional Service”).

         
         

        

         
        (b) Change Requests.  In
            the event either of the Parties desires a Service Modification or an Additional Service (in each case, a “Change”), the Party requesting the Change will deliver a written description of the proposed Change (a “Change Request”) to
            the other Party as follows: (i) in the case of a Change Request by Provider, to Recipient’s Project Manager; and (ii) in the case of a Change Request by Recipient, to Provider’s Project Manager.

         
         

        

         
        (c) Meeting of the Parties. 
            Unless the Party receiving the Change Request agrees to implement the Change Request as proposed, the Project Managers will meet in person or by telephone to discuss the Change Request no later than ten (10) Business Days after delivery of the
            Change Request to the other Party.

         
         

        

         
        (d) Approval of Recipient
              Change Requests.  All Recipient Change Requests must be approved by Provider’s Project Manager in writing before the Change may be implemented in accordance with Section 1.2(f) below, such approval not to be unreasonably withheld,
            conditioned, or delayed.  For the purposes of the preceding sentence, the Parties agree that it is not unreasonable to: (i) withhold such consent to the extent that such proposed Change would increase the resources required for Provider to
            provide the Services after giving effect to the Change Request, (ii) withhold such consent if Provider determines that it would have to hire any new resources in order to provide the Services following implementation of the Change, whether due
            to lack of available personnel, lack of expertise of existing available personnel, or otherwise, (iii) condition such consent on Recipient agreeing to bear any increases in Provider’s cost of performance (including, if applicable, Fully
            Burdened Costs of personnel) resulting from such Change, or (iv) condition such consent on the Parties, acting in good faith, reaching an agreement on the pricing of the applicable Service following the Change.

         
         

        

         
        (e) Approval of Provider
              Change Requests.  All Provider Change Requests must be approved by Recipient’s Project Manager in writing before the Change may be implemented in accordance with Section 1.2(f) below.  Such consent will not be unreasonably
            withheld, conditioned or delayed.  For the purposes of the preceding sentence, the Parties agree that it is not unreasonable to: (i) withhold such consent to the extent that such proposed Change would materially adversely affect Provider’s
            performance of the Services after giving effect to the Change Request, (ii) condition such consent on Provider agreeing not to pass to Recipient any increases in Provider’s cost of performance resulting from such Change, or (iii) condition such
            consent on Provider agreeing to reimburse Recipient for any costs incurred by Recipient to implement or accommodate such Change in order to continue to receive the Services.

            

          

        
          5

          
            

        

        (f) Implementation of Approved
              Change.  If a Change Request is approved in accordance with this Section 1.2, then Annex I or Annex II, as applicable, will be amended in accordance with Section 10.2  to reflect the implementation of the Change Request
            and any other agreed-upon terms or conditions relating to the Change.

         
         

        

         
        1.3       Service Standards.

         
         

           

         
        (a) Service Quality. 
            Except to the extent otherwise expressly provided in Annex I or Annex II, as applicable, Provider shall provide, or cause to be provided, the Services with at least the same degree of care, quality, priority, timeliness, and skill as its past
            practice in performing the Services for itself and/or the Recipient’s Business during the one-year period prior to the Effective Date (the “Service Standards”).  For the avoidance of doubt, nothing herein shall be construed to require
            Provider to maintain the employment of any particular individual(s), or any number of individual(s), and Provider shall be free to hire and terminate its personnel and its contractors in its sole and absolute discretion.

         
         

        

         
        (b) Maintenance. 
            Notwithstanding anything to the contrary in Section 1.3(a), Provider shall have the right to shut down its facilities and/or systems used in providing the Services in accordance with scheduled maintenance windows that have been set by
            Provider and communicated in advance to Recipient’s Project Manager; provided, however, that Provider shall not shut down any such facilities and/or systems during critical operating periods.  The scheduled maintenance windows shall always be
            planned to be performed outside customary business hours, or if not possible, be planned so that such shut down shall not materially and adversely affect Recipient’s operations.  In the event maintenance is nonscheduled, Provider shall,
            whenever possible notify Recipient twenty-four (24) hours in advance.  Unless not feasible under the circumstances, this notice shall be given in writing or by email to the Recipient’s Project Manager.  Where written notice is not feasible,
            Provider shall give prompt oral notice, which notice shall be promptly confirmed in writing by Provider.  Provider shall be relieved of its obligations to provide Services only for the period of time that its facilities are so shut down but
            shall use commercially reasonable efforts to minimize each period of shutdown for such purpose and to schedule such shutdown so as not to inconvenience or disrupt the conduct of the business of the Recipient.  Provider shall consult with
            Recipient prior to temporary shutdowns to the extent reasonably practicable or, if not reasonably practicable, immediately thereafter in order to establish alternative sources for such Services.  To the extent commercially reasonable, Provider
            will afford Recipient the benefit of any arrangements for substitute services that Provider makes on its own behalf.

         
         

        

         
        ARTICLE II.

          FEES AND PAYMENT

         
         

           

         
        2.1       Fees.  In consideration of the Services, Recipient shall pay to Provider the Fees associated
            with the Services provided to Recipient and its Subsidiaries hereunder.  The Fees for each Service will be determined as specified for such Service in Annex I and Annex II; provided that, if no Fees are specified for a Service
            in the applicable Annex, then the Fees for such Service shall be equal to Provider’s Fully Burdened Cost for providing such Service (the “Fees”).  In addition, without duplication of any expenses included in the Fees and unless specified
            otherwise in Annex I or Annex II, Recipient shall reimburse Provider for all reasonable out-of-pocket fees, costs and expenses incurred by Provider in the provision of the Services (“Expenses”).

         
         

           

        
          6

          
            

        

        2.2       Payment Terms.

         
         

          

         
        (a) Invoices. Except as
            otherwise provided in Annex I or Annex II with respect to any Service, promptly following the end of each calendar month during the Term, Provider shall deliver to Recipient or its nominated designee an invoice setting forth the Fees and
            Expenses for the Services provided by Provider during the prior month.  All invoices or other demands for payment delivered pursuant to this Agreement shall set forth, or be accompanied by, reasonable documentation or other reasonable
            explanation supporting the amounts invoiced.

         
         

        

         
        (b) Payment. Except as
            otherwise expressly provided to the contrary in this Agreement, any amount to be paid or reimbursed by a Party (where applicable, or a member of such Party’s Group) to the other Party (where applicable, or a member of such other Party’s Group)
            under this Agreement shall be paid or reimbursed hereunder within thirty (30) days after presentation of an invoice or a written demand therefor in accordance with Section 2.2(a).  All payments under this Agreement shall be made by
            electronic funds transfer of immediately available funds to the bank account specified by the Party receiving the payment.

         
         

        

         
        (c) Disputed Amounts.  In
            the event that Recipient disputes in good faith the accuracy of any portion of an invoice, Recipient shall deliver to the Provider Project Manager notice of the dispute (which shall constitute an “Initial Notice” for purposes of the dispute
            resolution provisions incorporated by reference herein pursuant to Article IX), along with a reasonably detailed explanation of the basis of the dispute, on or prior to the applicable due date, and shall pay all undisputed portions of
            the applicable invoice in a timely manner in accordance with Section 2.2(b).  The Project Managers shall attempt to resolve the dispute in a prompt manner.  If the Project Managers are unable to resolve the dispute within ten (10) days
            from the date of the Initial Notice, either Party may, upon notice to the other Party, escalate the dispute to the “Dispute Committee” specified in [Section 6.2(b)] of the Separation Agreement, and thereafter, the dispute shall be
            resolved in accordance with Article IX hereof (and Article VI of the Separation Agreement).

         
         

        

         
        (d) Late Payment Charge.
            Except as expressly provided to the contrary in this Agreement, any amount not paid when due pursuant to this Agreement (and any amount billed or otherwise invoiced or demanded and properly payable that is not paid within thirty (30) days of
            such bill, invoice or other demand) shall bear interest at a rate per annum equal to the Prime Rate, from time to time in effect, plus two percent (2%), calculated for the actual number of days elapsed, accrued from the date on which such
            payment was due up to the date of the actual receipt of payment.

         
         

        

         
        (e) Currency Conversion.
            Without the consent of the Party receiving any payment under this Agreement specifying otherwise, all payments to be made by either Provider or Recipient under this Agreement shall be made in U.S. dollars.  Except as expressly provided herein,
            any amount which is not expressed in U.S. dollars shall be converted into U.S. dollars by using the exchange rate published on Bloomberg at 5:00 pm, Eastern time, on the day before the relevant date, or in The
              Wall Street Journal on such date if not so published on Bloomberg.

         

           

        
          7

          
            

        

        2.3       Taxes. All sums payable under this Agreement are exclusive of value added tax, sales tax, service tax and turnover tax that may be levied
          in any jurisdiction (collectively, “Service Taxes”) which shall (if and to the extent applicable with respect to a Service) be payable by the Recipient of such Service to the extent that the Recipient bears primary liability for such
          Service Taxes under applicable Law.  Except to the extent provided in the Tax Matters Agreement, each Party shall be liable for its own Taxes that are imposed on (or measured by) net income or net profits, however denominated, and any interest,
          penalties, additions to Tax or additional amounts in respect of the foregoing.  If any Taxes are required to be deducted or withheld from any payments made by one Party (the “Payor”) to another Party (the “Payee”) hereunder, then
          such Payor shall (i) withhold or deduct the required amount and promptly pay such Taxes to the applicable Tax authority, and (ii) pay additional amounts to such Payee so that the net amount actually received by such Payee after such withholding
          or deduction of Tax is equal to the amount that such Payee would have received had no such withholding or deduction been required.  If the Payor makes a payment pursuant to this Section 2.3 in respect of which a Payee obtains and is
          entitled to retain an actual cash refund of Tax or an actual reduction in a Tax liability (including by virtue of the Payee obtaining a deduction for Tax purposes in respect of the cost, liability or expense for which the Payee was subsequently
          reimbursed by the Payor) then the relevant Payee shall reimburse the Payor for an amount equal to the lower of the amount of: (i) such refund or such actual reduction, after deducting any Tax thereon and after deducting the reasonable costs and
          expenses incurred in obtaining such refund or reduction; and (ii) the relevant payment in respect of which such refund or actual reduction arises.  Payor and Payee shall make commercially reasonable efforts to cooperate to the extent necessary to
          obtain any exemption relating to, or reduced rate of, deduction or withholding for or on account of Tax.

         
        ARTICLE III.

          TERM AND TERMINATION

         
         

           

         
        3.1       Term.  This Agreement is effective as of the Effective Date and shall continue until the
            termination or expiration of all Services (the “Term”); provided, however, in the event the Separation Agreement is terminated, this Agreement shall automatically become null and void and no Party, nor any Party’s
            directors, officers or employees, shall have any Liability of any kind to any Person by reason of this Agreement.  After the Distribution, this Agreement may not be terminated except as otherwise provided in this Article III, or by an
            agreement in writing signed by the Parties.

         
         

        

         
        3.2       Service Terms; Extensions.  The term for each Service is specified for that
            Service on Annex I and Annex II (each a “Service Term”).  Except as otherwise provided in Annex I or Annex II with respect to any Service, upon notice from Recipient to Provider at least forty-five (45)
            days prior to the expiration of a Service Term, Recipient shall have the right to extend the Service Term for the applicable Service for up to six (6) additional
            months; provided that (i) in the event the Service to be extended is contingent upon the provision of another Service, both Services must be extended; (ii) Recipient shall be required to pay any additional fees or costs (including retention
            costs, if applicable) incurred by Provider in order to extend the Service Term for the applicable Service(s); (iii) during the extended Service Term, the Fees for the applicable Service shall be increased by twenty-five (25) percent; and (iv) the total aggregate Service Term (including any extension) for the applicable Service does not exceed twenty-four (24) months. For the avoidance of
            doubt, to the extent that any extension to a Service Term would result in the aggregate Service Term for the applicable Service exceeding twenty-four (24) months, such extension must be mutually agreed in writing between the Parties in
            accordance with Section 10.2.

         
         

           

         
        
          8

          
            

        

        3.3       Early Termination.  Except as otherwise provided in Annex I or Annex
              II, Recipient may terminate this Agreement in respect of any or all of the Services, effective on the first day of any calendar month, by providing a minimum of thirty (30) days prior written notice Provider (an “Early Termination
              Notice”); provided, however, Recipient may not terminate a particular Service if such Service is interdependent with other Services, unless all such interdependent Services are simultaneously terminated.  Recipient shall
            reimburse Provider for Stranded Costs, if any, resulting from any such early termination as set forth in Annex I or Annex II, as applicable.

         
         

        

         
        3.4       Termination for Default.

         
         

        

         
        (a) Termination for
              Non-Payment.  A Provider may terminate this Agreement, with respect to all or any applicable Services it provides hereunder, if the Recipient fails to pay undisputed amounts due in accordance with Article II, and the Recipient
            fails to cure such payment default within thirty (30) days of receipt of notice of the payment default from the Provider.

         
         

        

         
        (b) Termination for Material
              Breach.  A Recipient may terminate this Agreement, with respect to all or any applicable Services it receives hereunder, if the Provider is in material breach of this Agreement with respect to its provision of Services hereunder, and the
            Provider fails to cure such material breach within thirty (30) days of receipt of notice of such material breach from the Recipient.

         
         

        

         
        3.5       Effect of Termination.

         
         

        

         
        (a) Upon the expiration or
            termination of this Agreement or the termination of the provision of any Services hereunder, the Parties shall pay all costs and other sums owed to the other for the terminated Services provided or reimbursement of excess payments through the
            date of such expiration or termination on the payment terms set forth in Article II.  Unless Recipient is in default of its payment obligations hereunder, Provider will, at Recipient’s reasonable expense, provide such cooperation as may
            reasonably be requested by Recipient, in order to transition the terminated Services to Recipient or a third party service provider (the “Termination Services”).  Notwithstanding anything to the contrary, the Recipient will pay Provider
            its Fully Burdened Cost for providing the Termination Services (including, without duplication, reimbursement of all Expenses), which will be invoiced and payable in the same manner as set forth for Expenses in Article II above.

         
         

        

         
        (b) The provisions of Article
              I Section 1.1(f), this Section 3.5, Article V, Article VI, Article VIII, Article IX, and Article X shall survive the expiration or the termination of this Agreement.  The remaining
            provisions shall survive to the extent such provisions are applicable to any amounts due for Services provided prior to termination or expiration, or are applicable to any Termination Services (including payment therefor).

         
         

           

         
        
          9

          
            

        

        ARTICLE IV.

          COOPERATION AND ACCESS

         
         

           

         
        4.1       Cooperation by Recipient.  Subject to the terms and conditions set forth in
            this Agreement, Recipient shall use commercially reasonable efforts to make available, as reasonably requested by Provider, sufficient resources and timely decisions, approvals and acceptances in order that Provider may accomplish its
            obligations under this Agreement in a timely and efficient manner.

         
         

        

         
        4.2       Access to Premises and Systems. Each Party agrees that it shall, without
            charge, provide such reasonable access to its premises, personnel and/or computer systems or information stores, and such reasonable assistance, as may be required to the other Party for the other Party to perform their obligations or receive
            the Services under this Agreement. Unless otherwise agreed to in writing by the Parties, each Party will: (i) use the premises, computer systems and information stores of the other Party solely for the purpose of providing or receiving the
            Services; (ii) limit such access to those of its representatives with a bona fide need to have such access in connection with the Services and who, if required by the provisions of this Agreement, have been duly approved to have such access,
            and (iii) comply, and cause its employees, subcontractors and third-party providers to comply, with all policies and procedures governing access to and use of such premises, computer systems and/or information stores made known to such Party in
            advance. All user identification numbers and passwords disclosed by a Party to the other Party and any information obtained by either Party as a result of such Party’s access to and use of the other Party’s computer systems shall be deemed to
            be, and treated as, Confidential Information of the disclosing Party hereunder in accordance with the provisions set forth in Article VIII, with the same degree of care as such receiving Party uses for its own information of a similar
            nature, but in no event a lower standard than a reasonable standard of care.  The Parties shall cooperate in the investigation of any apparent unauthorized access to any premises, computer system and/or information stores of any Party.  These
            provisions concerning access to premises, personnel and/or computer systems or information stores shall apply equally to any access and use by a Party of the other Party’s electronic mail system, electronic switched network, either directly or
            via a direct inward service access or calling card feature, data network or any other property, equipment or service of the other Party, and any software that may be accessible by either Party in connection with this Agreement.

         
         

        

         
        4.3       Compliance with Third Party Vendor Agreements.  Recipient shall comply with
            the terms of all third-party vendor agreements, copies of which Recipient has been provided, which are used by Provider in providing the Services.

         
         

        

         
        ARTICLE V.

          INTELLECTUAL PROPERTY

         
         

           

         
        5.1       Ownership of Intellectual Property.  Except as otherwise expressly set forth
            herein, as between the Parties, each Party shall remain the exclusive owner of all right, title and interest throughout the world in and to its Intellectual Property, whether provided to one another in the performance or receipt of the
            Services, or in any other context given the relationships of the Parties under this Agreement.  Without limiting the foregoing and for the avoidance of doubt, ownership of any Intellectual Property that is developed or generated after the
            Effective Date in connection with any Service will vest, as between the Parties, in the Provider of such Service, except for any Intellectual Property generated by Recipient’s use of a Service in the ordinary course of operating the relevant
            business (e.g., copyrights in reports, documents or data generated through Recipient’s use of a Service).

         
         

           

         
        
          10

          
            

        

        5.2       No Implied License.  Each Party acknowledges that no license or conveyance of any
            rights to any Intellectual Property is granted to the receiving Party by the disclosure of Confidential Information pursuant to this Agreement.  Except as otherwise provided in the Separation Agreement or this Agreement, Recipient further
            acknowledges that it will acquire no right, title or interest (including any license rights or rights of use) in any firmware or software, and the licenses therefor which are owned by Provider by reason of Provider’s provision of the Services
            provided hereunder.

         
         

        

         
        ARTICLE VI.

         
        NO WARRANTIES; LIMITATION OF LIABILITY

         
         

        

         
        6.1       No Warranties.  EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, BUT WITHOUT LIMITING
            ANY REPRESENTATIONS OR WARRANTIES IN THE SEPARATION AGREEMENT, (A) ALL SERVICES ARE PROVIDED “AS IS,” AND (B) PROVIDER PROVIDES NO WARRANTY IN CONNECTION WITH THE SUBJECT MATTER OF THIS AGREEMENT AND HEREBY DISCLAIMS ANY AND ALL IMPLIED OR
            STATUTORY WARRANTIES, INCLUDING ALL IMPLIED WARRANTIES OF TITLE, MERCHANTABILITY, NON-INFRINGEMENT AND FITNESS FOR A PARTICULAR PURPOSE REGARDING SUCH SUBJECT MATTER.  To the extent that Provider may not as a matter of applicable law disclaim
            any implied warranty, the scope and duration of such warranty will be the minimum permitted under such law.

         
         

        

         
        6.2       Limitation of Liability.  WITH THE EXCEPTION OF CLAIMS ARISING FROM A
            PROVIDER’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT, THE PROVIDER SHALL NOT BE LIABLE TO THE RECIPIENT FOR ANY CLAIM OR CAUSE OF ACTION ARISING OUT OF ITS ACTS OR OMISSIONS AS A PROVIDER HEREUNDER.  NOTWITHSTANDING ANYTHING TO THE CONTRARY
            CONTAINED IN THIS AGREEMENT, TO THE FULLEST EXTENT PERMITTED UNDER APPLICABLE LAW,  NEITHER PARTY, NOR ITS AFFILIATES, CONTRACTORS, SUPPLIERS OR AGENTS, SHALL HAVE ANY LIABILITY HEREUNDER FOR, AND DAMAGES SHALL NOT INCLUDE, ANY PUNITIVE,
            INCIDENTAL, CONSEQUENTIAL, SPECIAL OR INDIRECT DAMAGES, OR DAMAGES CALCULATED BASED UPON LOST PROFITS, LOSS IN VALUE OR MULTIPLE OF EARNINGS.  ANY CLAIM OR CAUSE OF ACTION REQUESTING OR CLAIMING SUCH DAMAGES IS SPECIFICALLY WAIVED AND BARRED,
            WHETHER OR NOT SUCH DAMAGES WERE FORESEEABLE OR A PARTY WAS NOTIFIED IN ADVANCE OF THE POSSIBILITY OF SUCH DAMAGES.

         
         

           

         
        
          11

          
            

        

        ARTICLE VII.

          FORCE MAJEURE

         
         

           

         
        7.1       Force Majeure.  In case a Party shall be hindered, delayed or prevented from
            performing its obligations under this Agreement (other than its payment obligation), or if such performance is rendered impossible by reason of fire, explosion, earthquake, storm, flood, drought, embargo, pandemic, wars or other hostilities,
            strike, lockout or other labor disturbance, mechanical breakdown, governmental action, or any other cause that is beyond the reasonable control of a Party (a “Force Majeure Event”), then the Party so hindered, delayed or prevented shall
            not be liable to the other Party for the resulting delay or failure to carry out its obligations hereunder.  In any such event, such Party’s affected obligations hereunder shall be postponed for such time as its performance is suspended or
            delayed on account thereof.  The affected Party will promptly notify the other Party, either orally or in writing, upon learning of the occurrence of such Force Majeure Event.  If the Force Majeure Event affects the provision of Services by
            Provider hereunder, Provider shall use commercially reasonable efforts to remove such Force Majeure Event as soon as and to the extent reasonably possible and, in any event, will treat the Recipient the same as any other internal or external
            service recipient of the affected Services, if any.  Upon the cessation of the Force Majeure Event, the affected Party will use commercially reasonable efforts to resume its performance with the least possible delay.  Notwithstanding the
            foregoing, and notwithstanding anything to the contrary in this Agreement, Recipient shall not be required to pay for the affected Services during the pendency of a Force Majeure Event.  If any Services are interrupted or suspended for more
            than ten (10) consecutive days, Recipient may immediately terminate the affected Services upon written notice to Provider.

         
         

           

         
        ARTICLE VIII.

          CONFIDENTIALITY

         
         

           

         
        8.1       Confidentiality.  Each of the Parties agrees that any Confidential Information of
            the other Party received in the course of performance under this Agreement shall be kept strictly confidential by the Parties, except that Provider may disclose Recipient’s Confidential Information for the sole purpose of providing Services
            pursuant to this Agreement to any Affiliate of Provider or to third parties that provide such Services in accordance with the terms set forth in Section 10.16; provided, that Provider shall ensure that any such Affiliate or third party
            is bound in writing by obligations of confidentiality at least as strict as those contained herein.  Provider shall be responsible for any such Affiliate or third party keeping confidential such Confidential Information of Recipient.  The Party
            receiving Confidential Information further agrees (i) not to use the disclosing Party’s Confidential Information except as necessary to perform its obligations under this Agreement, and (ii) to take the same care with the disclosing Party’s
            Confidential Information as it does with its own, but in no event less than a reasonable degree of care.  Upon the termination of this Agreement, each Party shall return to the other Party or destroy all of such other Party’s Confidential
            Information.  Each of the Parties shall treat the terms of this Agreement as if they were the Confidential Information of the other Party and shall not disclose the terms of this Agreement without the other Party’s prior
            written consent, except as required by applicable Law, by the rules of any national stock exchange with respect to a Party’s publicly-traded securities or as otherwise permitted under this Agreement.

         
         

           

         
        8.2       Government Order.  If the receiving Party is requested to disclose any of the
            disclosing Party’s Confidential Information pursuant to any judicial or governmental order, the receiving Party will promptly notify the disclosing Party of such order so that the disclosing Party, in its sole discretion, may seek an
            appropriate protective order and/or take any other action to prevent or minimize the breadth of such disclosure.

         
         

           

         
        
          12

          
            

        

        ARTICLE IX.

          DISPUTE RESOLUTION

         
        9.1       Dispute Resolution.  Any and all disputes, controversies and claims
            arising hereunder, including with respect to the validity, interpretation, performance, breach or termination of this Agreement shall be resolved through the procedures provided in Article VI of the Separation Agreement.

         
         

        

         
        ARTICLE X.

          MISCELLANEOUS PROVISIONS

         
         

           

         
        10.1     Corporate Power.

         
         

        

         
        (a) TFMC represents on behalf of
            itself and each other member of the TFMC Companies, and TEN represents on behalf of itself and each other member of the TEN Companies, as follows:

         
         

        

         
        
          
            (i) each such Person has the requisite public limited company, public limited liability company or other power and authority and has taken all public limited company, public limited liability company or other
              action necessary in order to execute, deliver and perform this Agreement and to consummate the transactions contemplated hereby; and

             

               

          

        

         
        
          
            (ii) this Agreement has been duly executed and delivered by it and constitutes a valid and binding agreement of it enforceable in accordance with the terms hereof.

             

               

          

        

         
        (b)            Each Party acknowledges that it and each other Party may execute this Agreement by facsimile, stamp or mechanical signature. Each
            Party expressly adopts and confirms each such facsimile, stamp or mechanical signature made in its respective name as if it were a manual signature, agrees that it shall not assert that any such signature is not adequate to bind such Party to
            the same extent as if it were signed manually and agrees that at the reasonable request of any other Party at any time it shall as promptly as reasonably practicable cause this Agreement to be manually executed (any such execution to be as of
            the date of the initial date thereof).

         
         

        

         
        10.2     Modification or Amendments. Subject to the provisions of applicable Law, and
            except as otherwise provided in this Agreement, this Agreement may be amended, modified or supplemented only by written instrument signed by the authorized representative of the Party against whom it sought to enforce such waiver, amendment,
            supplement or modification is sought to be enforced; provided, at any time prior to the Effective Date, the terms and conditions of this Agreement, including terms relating to the Transactions, may be amended, modified or abandoned by and in
            the sole and absolute discretion of the TFMC Board without the approval of any Person, including TFMC or TEN.

         
         

           

         
        10.3     Waivers of Default.  Waiver by a Party of any default by the other Party
            of any provision of this Agreement shall not be deemed a waiver by the waiving Party of any subsequent or other default, nor shall it prejudice the rights of the other Party. No failure or delay by a Party in exercising any right, power or
            privilege under this Agreement shall operate as a waiver thereof nor shall a single or partial exercise thereof prejudice any other or further exercise thereof or the exercise of any other right, power or privilege.

         
         

           

         
        
          13

          
            

        

        10.4     Counterparts. This Agreement may be executed in one or more counterparts, and by the
            different parties hereto in separate counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement. The exchange of a fully executed Agreement (in
            counterparts or otherwise) by facsimile or by electronic delivery in .pdf format shall be sufficient to bind the parties to the terms and conditions of this Agreement.

         
         

        

         
        10.5     Governing Law. This Agreement (and any claims arising out of or related hereto
            or to the transactions contemplated hereby or to the inducement of any Party to enter herein, whether for breach of contract, tortious conduct or otherwise and whether predicated on common law, statute or otherwise) shall be governed by and
            construed and interpreted in accordance with the Laws of the State of New York, irrespective of the choice of laws principles of the State of New York, including all matters of validity, construction, effect, enforceability, performance and
            remedies.

            

          

         
        10.6     Notices.  Any notice, request, instruction or other document to be given hereunder by any
            party to the others shall be in writing and delivered personally or sent by registered or certified mail, postage prepaid or by prepaid overnight courier (providing written proof of delivery), or by confirmed facsimile transmission or
            electronic mail (with confirmed receipt), addressed as follows:

         
         

        

         
        If to TFMC, to:

         
         

           

         
        TechnipFMC plc

          One St. Paul’s Churchyard,

          London EC4M 8AP, United Kingdom

          Attention: Chief Legal Officer

         
         

           

         
        with a copy (which shall not constitute notice) to:

         
         

           

         
        Latham & Watkins LLP

          330 North Wabash Avenue, Suite 2800

          Chicago, IL 60611

         
        United States of America

          Attention: Ryan Maierson

          Email: ryan.maierson@lw.com

          Attention: Christopher R. Drewry

          Email: christopher.drewry@lw.com

         
         

           

         
        
          14

          
            

        

        If to TEN, to:

         
         

           

         
        Technip Energies N.V.

         
        6-8 Allée de l’Arche

         
        Faubourg de l’Arche

         
        ZAC Danton

         
        92400 Courbevoie

         
        France

         
        Attention: Chief Legal Officer

         
         

           

         
        with a copy (which shall not constitute notice) to:

         
         

           

         
        Davis & Polk Wardwell LLP

          450 Lexington Avenue

          New York, New York 10017

         
        United States of America

         
        Attention: William Aaronson

         
        Email: william.aaronson@davispolk.com

         
        Attention: Jacques Naquet-Radiguet

         
        Email: jacques.naquet@davispolk.com

           
        

           

         
        or to such other persons or addresses as may be designated in writing by the party to receive such notice as provided above.

         
         

           

         
        10.7     Entire Agreement. This Agreement (including any annexes hereto), together
            with the Separation Agreement and the other Ancillary Agreements constitutes the entire agreement, and supersedes all other prior agreements, understandings, representations and warranties both written and oral, among the Parties, with respect
            to the subject matter hereof.

         
         

        

         
        10.8     No Third-Party Beneficiaries.  The provisions of this Agreement are solely
            for the benefit of the Parties and are not intended to confer upon any Person (including, without limitation, any shareholders of TFMC or shareholders of TEN) except the Parties hereto any rights or remedies hereunder; and (b) there are no
            third-party beneficiaries of this Agreement, and this Agreement shall not provide any third Person (including, without limitation, any shareholders of TFMC or shareholders of TEN) with any remedy, claim, reimbursement, claim of action or other
            right in excess of those existing without reference to this Agreement.

         
         

        

         
        10.9     Severability. The provisions of this Agreement shall be deemed severable and the
            invalidity or unenforceability of any provision shall not affect the validity or enforceability or the other provisions hereof. If any provision of this Agreement, or the application thereof to any Person or any circumstance, is invalid or
            unenforceable, (a) a suitable and equitable provision shall be substituted therefor in order to carry out, so far as may be valid and enforceable, the intent and purpose of such invalid or unenforceable provision and (b) the remainder of this
            Agreement and the application of such provision to other Persons or circumstances shall not be affected by such invalidity or unenforceability, nor shall such invalidity or unenforceability affect the validity or enforceability of such
            provision, or the application thereof, in any other jurisdiction.

         
         

           

         
        
          15

          
            

        

        10.10   Interpretation. The table of contents and headings herein are for convenience of
            reference only, do not constitute part of this Agreement and shall not be deemed to limit or otherwise affect any of the provisions hereof. Where a reference in this Agreement is made to a Section, Schedule, Exhibit or Annex, such reference
            shall be to a Section of, Schedule to, Exhibit to or Annex to this Agreement unless otherwise indicated. Whenever the words “include,” “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words
            “without limitation.” For purposes of this Agreement, whenever the context requires the singular number shall include the plural, and vice versa. All references in this Agreement to “$” are intended to refer to United States dollars and all
            references to “EUR” are to the lawful currency of the European Union. Any reference to a particular Law means such Law as amended, modified or supplemented (including all rules and regulations promulgated thereunder) and, unless otherwise
            provided, as in effect from time to time.

         
         

        

         
        10.11   Defined Terms. Capitalized terms used and not otherwise defined herein shall have the
            meanings specified or referred to in Annex III, or if not defined therein, in the Separation Agreement.

         
         

        

         
        10.12   Expenses.  Except as otherwise expressly provided herein, each Party shall pay its own
            expenses incident to this Agreement and the transactions contemplated herein.

         
         

        

         
        10.13   No Set-Off.  The obligations under this Agreement shall not be subject to set-off for
            non-performance or any monetary or non-monetary claim by any Party or any of their respective Affiliates under any other agreement between the Parties or any of their respective Affiliates.

         
         

        

         
        10.14   Specific Performance; Other Equitable Relief.

         
         

        

         
        (a)       Subject to Article IX, the Parties agree that irreparable damage would occur if any provision of this Agreement were not
            performed in accordance with the specific terms hereof or were otherwise breached. It is accordingly agreed that prior to the termination of this Agreement in accordance with Article III, the Parties shall be entitled to an injunction
            or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement (without necessity of posting bond or other security (any requirements therefor being expressly waived)), this being in
            addition to any other remedy to which they are entitled at Law or in equity.

         
         

        

         
        (b)       Each of the Parties agrees that it will not oppose the granting of an injunction, specific performance and other equitable relief as
            provided herein on the basis that (i) it has an adequate remedy at Law or (ii) an award of specific performance is not an appropriate remedy for any reason at Law or equity. Any Party seeking an injunction or injunctions to prevent breaches of
            this Agreement and to enforce specifically the terms and provisions of this Agreement shall not be required to provide any bond or other security in connection with any such order or injunction.

         
         

        

         
        10.15   Construction. This Agreement shall be construed as if jointly drafted by the Parties
            and no rule of construction or strict interpretation shall be applied against either Party. The Parties represent that this Agreement is entered into with full consideration of any and all rights which the Parties may have. The Parties have
            conducted such investigations they thought appropriate, and have consulted with such advisors as they deemed appropriate regarding this Agreement and their rights and asserted rights in connection therewith. The Parties are not relying upon any
            representations or statements made by the other Party, or such other Party’s employees, agents, representatives or attorneys, regarding this Agreement, except to the extent such representations are expressly set forth or incorporated in this
            Agreement. The Parties are not relying upon a legal duty, if one exists, on the part of the other Party (or such other Party’s employees, agents, representatives or attorneys) to disclose any information in connection with the execution of this
            Agreement or their preparation, it being expressly understood that neither Party shall ever assert any failure to disclose information on the part of the other Party as a ground for challenging this Agreement.

         
         

           

         
        
          16

          
            

        

        10.16   Assignment; Successors and Assigns; No Third Party Beneficiaries.  Neither

            this Agreement nor the rights or obligations hereunder shall be assignable by either Party, by operation of law or otherwise, without the prior written consent of the other Party, and any purported assignment or delegation in violation of this
            paragraph shall be null and void; provided, however, that (a) either Party may, without the consent of any other Party, assign any or all of its rights and interests, and delegate any or all of its obligations, to an Affiliate,
            provided that no such assignment or delegation shall relieve the assigning or delegating Party of its obligation to ensure performance by such Affiliate of its delegated obligations, (b) nothing in this Section 10.16 will restrict
            Provider from subcontracting the provision of Services to an Affiliate or to any third parties to the extent such third parties are used to provide such Services or similar services to other businesses of Provider and its Affiliates, and (c) a
            Party may assign its applicable rights, obligations and interests to a third party hereunder in conjunction with (i) the change in control of such Party, (ii) the sale of all or substantially all of the assets of such Party, or (iii) the sale
            or divestiture of any of the product lines, operating units, subsidiaries or business divisions of such Party,  provided that (x) such assigning Party shall remain responsible for all liability of such Party accrued hereunder as of the date of
            such assignment, (y) the assignee agrees in writing to assume all applicable obligations of the assigning Party accruing hereunder after such assignment (whereupon the assigning Party will be relieved of all liability and obligations hereunder
            to the extent accruing after such assignment), and (z) as of the date of such assignment, such assignee has commercially reasonably financial wherewithal to assume all applicable obligations.  Subject to the foregoing, this Agreement shall
            inure to the benefit of and be binding upon the Parties hereto and their respective successors and assigns.  No provision of this Agreement is intended to confer any rights, benefits, remedies or liabilities hereunder upon any person other than
            the Parties and their respective successors and permitted assigns.

         
         

        

         
        10.17   Conflict. In case of conflict between the terms and conditions of this Agreement and any
            schedule hereto, the terms and conditions of this Agreement shall control and govern.

         
         

        

         
        10.18   Relationship of the Parties.  The relationship of the Parties to each other is
            that of independent contractors and neither Party nor its agents or employees shall be considered employees or agents of the other Party.  This Agreement does not constitute and shall not be construed as constituting a partnership or joint
            venture or grant of a franchise between the Parties.  Neither Party shall have the right to bind the other Party to any obligations to third parties.

         
         

        

         
        10.19   Performance. Each Party shall cause to be performed, and hereby guarantees the
            performance of, all actions, agreements and obligations set forth herein to be performed by any Subsidiary or Affiliate of such Party.

         
         

           

         
        
          17

          
            

        

        10.20   Compliance with Laws.  Each Party shall comply, at its own expense, with the
            provisions of all Laws applicable to the performance of its obligations under this Agreement.

         
         

        

         
        10.21   Other Agreements.  Except as expressly set forth herein, this Agreement is not intended to address, and should not be
          interpreted to address, the matters specifically and expressly covered by the Separation Agreement or the other Ancillary Agreements.

         
        

           

         
        [Signature Page To Follow.]

         
         

           

         
        
          18

          
            

        

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

         
         

           

         
        
          	 	
                  TECHNIPFMC PLC

                
	 	
                  By:

                	

                	 
	 	
                  Name:

                	 
	 	
                  Title:

                	 

        

         
        

           

         
        
          19

          
            

        

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

         
         

           

         
        	 	
                TECHNIP ENERGIES N.V.

              
	 	
                By:

              	 	 
	 	
                Name:

              	 
	 	
                Title:

              	 

         
        

           

         
        
          20

          
            

        

        ANNEX I

         
         

           

         
        Services provided by TFMC to TEN

         
         

           

         
        [To come]

         
        

           

         
        
          
            

        

        ANNEX II

         
         

           

         
        Services provided by TEN to TFMC

         
         

           

         
        [To come]

         
         

           

         
        
          
            

        

        ANNEX III

         
        Defined Terms

         
         

           

         
         “Confidential Information” means

            all (i) non-public information and material of a Party or its Affiliates (and of companies with which such Party has entered into confidentiality agreements) that the other Party obtains knowledge of or access to; (ii) non-public Intellectual
            Property of the disclosing Party; and (iii) business and financial information of the disclosing Party, including but not limited to pricing, business plans, forecasts, revenues, expenses, earnings projections, sales data and any and all other
            non-public financial information; provided, however, “Confidential Information” does not include information that: (i) is or becomes public knowledge without any action by, or involvement of, the receiving Party or its
            Affiliates or contractors; (ii) is independently developed by the receiving Party without reference or access to the Confidential Information of the disclosing Party and is so documented; or (iii) is obtained by the receiving Party without
            restrictions on use or disclosure from a third party who did not receive it, directly or indirectly, from the disclosing Party.

         
         

        

         
         “Fully Burdened Cost” has the meaning set forth in Annex IV.

         
         

        

         
         “Provider” refers to (i) TFMC, in connection with Services
            provided by such Person pursuant to Section 1.1(a) of this Agreement, and (ii) TEN, in connection with Services provided by such Person pursuant to Section 1.1(b) of this Agreement.

         
         

        

         
         “Recipient” refers to (i) TEN, in connection with Services
            received by such Person pursuant to Section 1.1(a) of this Agreement, and (ii) TFMC, in connection with Services received by such Person pursuant to Section 1.1(b) of this Agreement.

         
         

        

         
         “Service” refers to (i) each Service provided by or at the
            direction of TFMC to TEN and its Subsidiaries as set forth on Annex I in accordance with Section 1.1(a) and (ii) each service provided by or at the direction of TEN to TFMC and its Subsidiaries as set forth on Annex II
            in accordance with Section 1.1(b).

         
         

        

         
        “Stranded Costs” means, with respect to any particular Service, the amounts identified as “Stranded Costs” for early termination, if any, in Annex I or Annex II, as applicable.

         
         

           

         
        
          
            

        

        Other Defined Term References

         
         

           

         
        	
                Defined Term

              	
                Section

              
	
                Action

              	
                Separation Agreement

              
	
                Additional Services

              	
                Section 1.2(a)

              
	
                Affiliate

              	
                Separation Agreement

              
	
                Agreement

              	
                Preamble

              
	
                Ancillary Agreements

              	
                Separation Agreement

              
	
                Asset Transfer Agreement

              	
                Recitals

              
	
                Change

              	
                Section 1.2(b)

              
	
                Change Request

              	
                Section 1.2(b)

              
	
                Consents

              	
                Section 1.1(d)

              
	
                Contract

              	
                Separation Agreement

              
	
                Cutover

              	
                Section 1.1(e)

              
	
                Cutover Plan

              	
                Section 1.1(e)

              
	
                Distribution

              	
                Separation Agreement

              
	
                Early Termination Notice

              	
                Section 3.3

              
	
                Effective Date

              	
                Preamble

              
	
                Expenses

              	
                Section 2.1

              
	
                Fees

              	
                Section 2.1

              
	
                Force Majeure Event

              	
                Section 7.1

              
	
                Law

              	
                Separation Agreement

              
	
                Liabilities

              	
                Separation Agreement

              
	
                Party(ies)

              	
                Preamble

              
	
                Payee

              	
                Section 2.3

              
	
                Payor

              	
                Section 2.3

              
	
                Person

              	
                Separation Agreement

              
	
                Project Managers

              	
                Section 1.1(f)

              
	
                Separation

              	
                Recitals

              
	
                Separation Agreement

              	
                Recitals

              
	
                Service Modification

              	
                Section 1.2(a)

              
	
                Service Standards

              	
                Section 1.3(a)

              
	
                Service Managers

              	
                Section 1.1(f)

              
	
                Service Taxes

              	
                Section 2.3

              
	
                Service Term

              	
                Section 3.2

              
	
                Services

              	
                Section 1.1(a)

              
	
                Subsidiary

              	
                Separation Agreement

              
	
                Tax Matters Agreement

              	
                Separation Agreement

              
	
                TEN

              	
                Preamble

              
	
                TEN Business

              	
                Separation Agreement

              
	
                Term

              	
                Section 3.1

              
	
                Termination Services

              	
                Section 3.5(a)

              
	
                TFMC

              	
                Preamble

              
	
                TFMC Business

              	
                Separation Agreement

              

         
        

           

         
        
          
            

        

        
        ANNEX IV

         
        Costing Methodology

         
         

           

         
        The term “Fully Burdened Cost” represents the total cost to provide a Service.  The intent is to assign to the Service all direct costs (including direct labor at average labor rates, direct
          supervision, benefits, travel and related costs, service-related training and any direct third party costs incurred to provide the Service) as well as a relevant portion of overhead.  Overhead includes the necessary costs to support the provision
          of a Service including indirect labor, building occupancy costs, depreciation, information technology costs, site costs, and supplies.  Average departmental labor rates are normally used to charge direct labor to a product or Service.  Actual
          material purchase prices are used to charge direct materials to a product or Service.

         
         

           

         
        I.          Methodology.  Provider will use a methodology similar to the following to calculate the Fully Burdened Cost to provide a
            Service:

         
        The Service to be performed will be defined (e.g., Accounts Payable, Accounts Receivable).

         
         

           

         
        A. Direct
            costs to provide the Service are charged directly to the applicable Provider providing this Service.  These costs generally include direct labor, direct supervision, employee benefits, travel and related costs, service-related training, Taxes,
            permits, and any direct third party costs incurred to provide the Service.

         
         

        

         
        B. Direct
            costs will be allocated to the Service being provided using appropriate and available cost drivers or based on an effort study to determine the portion of the total effort of the relevant Provider utilized to provide the defined Service in A.
            above.

         
         

        

         
        C. An
            allocation of overhead to the Service being provided will be determined by first identifying relevant overhead costs necessary to support the Service.  Second, an appropriate and available cost driver will be used to relate the overhead to the
            Service being provided.

         
         

        

         
        D. Fully
            Burdened Cost is equal to the sum of direct costs as determined in B and allocated overhead as determined in C.  The unit charge rate for each Service provided is determined by dividing the total cost by the forecast/actual units (e.g., direct
            hours, etc.).

         
         

        

         
        II. Example Overhead Costs. 

            The overhead portion of Fully Burdened Cost attributable to a Service shall include (but is not limited to) costs such as:

         
         

        

         
        A.             Information technology costs including voice communication, data communication, desktop hardware and software,
            desktop support, application support, data center and related hardware costs and administration.

         
         

        

        
          
            

        

         
        B.            Related costs including rent, property and related Taxes, insurance and depreciation.

            

          

         
        C.             Maintenance.

         
         

        

         
        D.            Utilities.

         
         

        

         
        E.             Security costs.

         
         

        

         
        F.             Office administration and supplies.

         
         

        

         
        III. Examples of Overhead
              Costs Not Included in Overhead Calculations.  The following costs will not be includable in the overhead portion of Fully Burdened Cost:

         
         

        

         
        A. Costs for
            corporate executives, including the CEO and those overseeing the following functions:  Finance, Human Resources, Information Technology, Supply, Chain Management and Logistics, Corporate Marketing, and Corporate Research and Development.

         
         

        

         
        B. Corporate
            marketing costs.

         
         

        

         
        C. Any cost
            that does not directly or indirectly support the Service being provided.

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