Document:

EX-10.8

 Exhibit 10.8 

MP MATERIALS CORP. 

DIRECTOR AND OFFICER 

INDEMNIFICATION AGREEMENT 

THIS INDEMNIFICATION AGREEMENT (this “Agreement”) is entered into as of the [●] day of [●], 2020, by and
between MP Materials Corp., a Delaware corporation (the “Company”), and [●] (“Indemnitee”). 

RECITALS 

A.    The Company is aware that competent and experienced persons are increasingly reluctant to serve or continue serving
as directors or officers of companies unless they are protected by comprehensive liability insurance and adequate indemnification against risk of claims and actions against them arising out of their service to and activities on behalf of such
companies that can bear no relationship to the compensation of such directors or officers. 
 B.    The statutes,
including the General Corporation Law of Delaware (the “DGCL”), and judicial decisions in the State of Delaware regarding the duties of directors and officers may be insufficient to provide directors and officers with adequate,
reliable knowledge of the legal risks to which they are exposed or the manner in which they are expected to execute their fiduciary duties and responsibilities. 

C.    The Company and the Indemnitee recognize that future plaintiffs may seek damages in such large amounts, and the
costs of litigation may be so great (whether or not the claims are meritorious), that the defense and/or settlement of such litigation can create an extraordinary burden on the personal resources of directors and officers. 

D.    The board of directors of the Company (the “Board”) recognizes the limitations on the protection
provided by existing indemnification arrangements pursuant to the Company’s second amended and restated certificate of incorporation (the “Charter”) and amended and restated bylaws (the “Bylaws”) and the
uncertainties as to its availability in any particular situation. 
 E.    The Board has concluded that, to attract and
retain competent and experienced persons to serve as directors and officers of the Company, it is not only reasonable and prudent but necessary to promote the best interests of the Company and its stockholders for the Company to contractually
indemnify and hold harmless its directors and certain of its officers in the manner set forth herein, and to assume for itself liability for expenses and damages in connection with claims against such directors and officers in connection with their
service to and activities on behalf of the Company as provided herein. 
 F.     Section 145 of the DGCL permits the
Company to indemnify and advance defense costs to its officers and directors and to indemnify and advance expenses to persons who serve at the request of the Company as directors, officers, employees, or agents of other corporations or enterprises.

 G.    The Company desires and has requested the Indemnitee to serve or
continue to serve as a director and/or officer of the Company, and the Indemnitee is willing to serve, or to continue to serve, as a director and/or officer of the Company if the Indemnitee is furnished the indemnity provided for herein by the
Company. 
 NOW, THEREFORE, in consideration of the foregoing premises and the mutual covenants and agreements set forth below, the
parties hereto, intending to be legally bound, hereby agree as follows: 
 1.    Definitions. For
purposes of this Agreement, the following terms shall have the corresponding meanings set forth below. 
 “Change in
Control” means each of the following, occurring after the Effective Date: 
 (i) The date any Person becomes the “Beneficial
Owner,” as such term is defined in Rule 13d-3 promulgated under the Exchange Act, of 30% or more of the combined voting power of the Company’s outstanding shares, other than beneficial ownership by
(A) the Company or any subsidiary of the Company, (B) any employee benefit plan of the Company or any subsidiary of the Company or (C) any entity of the Company for or pursuant to the terms of any such plan. Notwithstanding the
foregoing, a Change in Control shall not occur as the result of an acquisition of outstanding shares of the Company by the Company which, by reducing the number of shares outstanding, increases the proportionate number of shares beneficially owned
by a Person to 30% or more of the shares of the Company then outstanding; provided, however, that if a Person becomes the Beneficial Owner of 30% or more of the shares of the Company then outstanding by reason of share purchases by the Company and
shall, after such share purchases by the Company, become the Beneficial Owner of any additional shares of the Company, then a Change in Control shall be deemed to have occurred; or 

(ii) The date the Company consummates a merger or consolidation with another entity, or engages in a reorganization with or a statutory share
exchange or an exchange offer for the Company’s outstanding voting stock of any class with another entity or acquires another entity by means of a statutory share exchange or an exchange offer, or engages in a similar transaction; provided that
no Change in Control shall have occurred by reason of this paragraph unless either: 
 (A) the stockholders of the Company immediately prior
to the consummation of the transaction would not, immediately after such consummation, as a result of their beneficial ownership of voting stock of the Company immediately prior to such 

  
 2 

 
consummation (I) be the Beneficial Owners, directly or indirectly, of securities of the resulting or acquiring entity entitled to elect a majority of the members of the board of directors or
other governing body of the resulting or acquiring entity; and (II) be the Beneficial Owners of the resulting or acquiring entity in substantially the same proportion as their beneficial ownership of the voting stock of the Company immediately
prior to such transaction; or 
 (B) those persons who were directors of the Company immediately prior to the consummation of the proposed
transaction would not, immediately after such consummation, constitute a majority of the directors of the resulting entity. 
 (iii) The
date of the sale or disposition, in one or a series of related transactions, of all or substantially all of the assets of the Company to any Person (as defined in paragraph (i) above) other than an affiliate of the Company (meaning any
corporation that is part of a controlled group within the meaning of the Internal Revenue Code of 1986, as amended, Section 414(b) or (c)); or 

(iv) The date the number of duly elected and qualified directors of the Company who were not either elected by the Company’s Board or
nominated by the Board or its nominating/governance committee for election by the shareholders shall constitute a majority of the total number of directors of the Company as fixed by its By-Laws. 

The Reviewing Party shall have full and final authority, which shall be exercised in its sole discretion, to determine conclusively whether a
Change in Control of the Company has occurred pursuant to the above definition, and the date of the occurrence of such Change in Control and any incidental matters relating thereto. 

“Claim” means a claim or action asserted by a Person in a Proceeding or any other written demand for relief in
connection with or arising from an Indemnification Event. 
 “Covered Entity” means (i) the Company,
(ii) any subsidiary of the Company or (iii) any other Person for which Indemnitee is or was or may be deemed to be serving, at the request of the Company or any subsidiary of the Company, as a director, officer, employee, controlling
person, agent or fiduciary. 
 “Disinterested Director” means, with respect to any determination
contemplated by this Agreement, any Person who, as of the time of such determination, is a member of the Board but is not a party to any Proceeding then pending with respect to any Indemnification Event. 

  
 3 

 “Effective Date” means the date first above written. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Expenses” means any and all direct and indirect costs, fees and expenses (including, without limitation, fees
and expenses of legal counsel, subject to the limitations set forth in Section 3(c) below (including Indepenent Legal Counsel), retainers, court costs, transcript costs, fees of experts, witness fees, travel expenses,
duplicating costs, printing and binding costs, telephone charges, postage and delivery service fees and all other disbursements or expenses of any type or nature whatsoever reasonably incurred by Indemnitee) in connection with or arising from an
Indemnification Event, including, without limitation: (i) the investigation or defense of a Claim; (ii) being, or preparing to be, a witness or otherwise participating, or preparing to participate, in any Proceeding; (iii) furnishing,
or preparing to furnish, documents in response to a subpoena or otherwise in connection with any Proceeding; (iv) any appeal of any judgment, outcome or determination in any Proceeding (including, without limitation, any premium, security for
and other costs relating to any cost bond, supersedeas bond or any other appeal bond or its equivalent); (v) establishing or enforcing any right to indemnification under this Agreement (including, without limitation, pursuant to
Section 2(c) below), the DGCL or otherwise, regardless of whether Indemnitee is ultimately successful in such action, unless as a part of such action, a court of competent jurisdiction over such action determines that each
of the material assertions made by Indemnitee as a basis for such action was not made in good faith or was frivolous; (vi) Indemnitee’s defense of any Proceeding instituted by or in the name of the Company under this Agreement to enforce
or interpret any of the terms of this Agreement (including, without limitation, costs and expenses incurred with respect to Indemnitee’s counterclaims and cross-claims made in such action); and (vii) any Federal, state, local or foreign
taxes imposed on Indemnitee as a result of the actual or deemed receipt of any payments under this Agreement, including all interest, assessments and other charges paid or payable with respect to such payments. For purposes of clarification,
Expenses shall not include Losses. 
 An “Indemnification Event” shall be deemed to have occurred if
Indemnitee was or is or becomes, or is threatened to be made, a party to or witness or other participant in, or was or is or becomes obligated to furnish or furnishes documents in response to a subpoena or otherwise in connection with, any
Proceeding by reason of the fact that Indemnitee is or was or may be deemed a director, officer, employee, controlling person, agent or fiduciary of any Covered Entity, or by reason of any action or inaction on the part of Indemnitee while serving
in any such capacity. 
 “Independent Legal Counsel” means a competent, qualified attorney or firm of
attorneys that is experienced, knowledgeable and qualified in matters of corporate law, or such other specialty as required by the matter in question, and neither presently is, nor in the thirty-six
(36) months prior to such designation has been, retained to represent: (i) the Company or Indemnitee in any matter material to either such party, or (ii) any other party to the Proceeding giving rise to a claim for indemnification
hereunder. 

  
 4 

 “Losses” means any and all losses, claims, damages,
liabilities, judgments, fines, penalties, settlement payments, awards and amounts of any type whatsoever incurred by Indemnitee in connection with or arising from an Indemnification Event. For purposes of clarification, Losses shall not include
Expenses. 
 “Organizational Documents” means any and all organizational documents, charters or similar
agreements or governing documents, including, without limitation, (i) with respect to a corporation, its Charter and Bylaws, (ii) with respect to a limited liability company, its operating agreement, and (iii) with respect to a
limited partnership, its partnership agreement. 
 “Proceeding” means any threatened, pending or completed
claim, demand, action, suit, proceeding, arbitration, mediation or alternative dispute resolution mechanism, investigation, inquiry, administrative hearing or appeal or any other actual, threatened or completed proceeding, whether brought in the
right of a Covered Entity or otherwise and whether of a civil (including intentional or unintentional tort claims), criminal, administrative, internal or investigative nature. 

“Person” means an individual, a partnership, a corporation, a limited liability company, an association, a
joint stock company, a trust, a joint venture, an unincorporated organization or other entity or government or agency or political subdivision thereof. 

“Reviewing Party” means, with respect to any determination contemplated by this Agreement, any one of the
following: (i) a majority of the Disinterested Directors, even if such Persons would not constitute a quorum of the Company’s board of directors; (ii) a committee consisting solely of Disinterested Directors, even if such Persons
would not constitute a quorum of the Company’s board of directors, so long as such committee was designated by a majority of the Disinterested Directors; (iii) Independent Legal Counsel designated by the Disinterested Directors (or, if
there are no Disinterested Directors, the Company’s board of directors) (in which case, any determination shall be evidenced by the rendering of a written opinion); or (iv) in the absence of any Disinterested Directors, the Company’s
stockholders; provided, that, in the event that a Change in Control has occurred, the Reviewing Party shall be Independent Legal Counsel (selected by Indemnitee) in a written opinion to the board of directors of the Company, a copy of which shall be
delivered to the Indemnitee. 
 “SEC” means the Securities and Exchange Commission. 

“Securities Act” means the Securities Act of 1933, as amended. 

2.    Indemnification. 

(a)    Indemnification of Losses and Expenses. If an Indemnification Event has occurred, then, subject to
Section 9 below, the Company shall indemnify and hold harmless Indemnitee, to the fullest extent permitted by the DGCL, as such law may be amended from time 

  
 5 

 
to time (but in the case of any such amendment, only to the extent that such amendment permits the Company to provide broader indemnification rights than were permitted prior thereto), against
any and all Losses and Expenses; provided that the Company’s commitment set forth in this Section 2(a) to indemnify and hold harmless the Indemnitee shall be subject to the limitations and procedural requirements set
forth in this Agreement. 
 (b)    Partial Indemnification. If Indemnitee is entitled under any provision of this
Agreement to indemnification by the Company for some or a portion of Losses or Expenses, but not, however, for the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is entitled.

 (c)    Advancement of Expenses. The Company shall advance Expenses to or on behalf of Indemnitee to the
fullest extent permitted by the DGCL, as such law may be amended from time to time (but in the case of any such amendment, only to the extent that such amendment permits the Company to provide broader indemnification rights than were permitted prior
thereto), as soon as practicable, but in any event not later than thirty (30) days after written request therefor by Indemnitee, which request shall be accompanied by vouchers, invoices or similar evidence documenting in reasonable detail the
Expenses incurred or to be incurred by Indemnitee; provided, however, that Indemnitee need not submit to the Company any information that counsel for Indemnitee reasonably deems is privileged and exempt from compulsory disclosure in any Proceeding.
Execution and delivery of this Agreement by the Indemnitee constitutes an undertaking to repay such amounts advanced only if, and to the extent that, it shall ultimately be determined that Indemnitee is not entitled to be indemnified by the Company
as authorized by this Agreement. No other form of undertaking shall be required other than the execution of this Agreement. Any advances and undertakings to repay pursuant to this Section 2(c) shall be unsecured and interest free. 

(d)    Contribution. To the fullest extent permissible under applicable law, if the indemnification provided for in
this Agreement is unavailable to Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for Losses or Expenses, in connection with any Proceeding relating
to an Indemnification Event under this Agreement, in such proportion as is deemed fair and reasonable by the Reviewing Party in light of all of the circumstances of such Proceeding in order to reflect (1) the relative benefits received by the
Company and Indemnitee as a result of the event(s) and/or transaction(s) giving rise to such Proceeding; and (2) the relative fault of the Company (and its directors, officers, employees and agents) and Indemnitee in connection with such
event(s) and/or transaction(s). 
 3.    Indemnification Procedures. 

(a)    Notice of Indemnification Event. Indemnitee shall give the Company notice as soon as practicable of any
Indemnification Event of which Indemnitee becomes aware and of any request for indemnification hereunder, provided that any failure to so notify the Company shall not relieve the Company of any of its obligations under this Agreement except if, and
then only to the extent that, such failure actually and materially prejudices the Company. 

  
 6 

 (b)    Notice to Insurers. The Company shall give prompt written
notice of any Indemnification Event which may be covered by the Company’s liability insurance to the insurers in accordance with the procedures set forth in each of the applicable policies of insurance. The Company shall thereafter take all
necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such Indemnification Event in accordance with the terms of such policies; provided that nothing in this
Section 3(b) shall affect the Company’s obligations under this Agreement or the Company’s obligations to comply with the provisions of this Agreement in a timely manner as provided. 

(c)    Selection of Counsel. If the Company shall be obligated hereunder to pay or advance Expenses or indemnify
Indemnitee with respect to any Losses, the Company shall be entitled to assume the defense of any related Claims, with counsel selected by the Company. After the retention of such counsel by the Company, the Company will not be liable to Indemnitee
under this Agreement for any fees of counsel subsequently incurred by Indemnitee with respect to the defense of such Claims; provided that: (i) Indemnitee shall have the right to employ counsel in connection with any such Claim at
Indemnitee’s expense; and (ii) if (A) the employment of counsel by Indemnitee has been previously authorized by the Company, (B) counsel for Indemnitee shall have provided the Company with written advice that there is a conflict of
interest between the Company and Indemnitee in the conduct of any such defense, or (C) the Company shall not continue to retain such counsel to defend such Claim, then the fees and expenses of Indemnitee’s counsel shall be at the expense
of the Company. 
 4.    Determination of Right to Indemnification. 

(a)    Successful Proceeding. To the extent Indemnitee has been successful, on the merits or otherwise, in defense
of any Proceeding that is the subject of an Indemnification Event referred to in Section 2(a), the Company shall indemnify Indemnitee against Losses and Expenses incurred by him or her in connection therewith. If Indemnitee
is not wholly successful in such Proceeding, but is successful, on the merits or otherwise, as to one or more but less than all Claims in such Proceeding, the Company shall indemnify Indemnitee against all Losses and Expenses actually or reasonably
incurred by Indemnitee in connection with each successfully resolved Claim. 
 (b)    Other Proceedings. In the
event that Section 4(a) is inapplicable, the Company shall nevertheless indemnify Indemnitee as provided in Section 2(a) or 2(b), as applicable, or provide a contribution payment to the
Indemnitee as provided in Section 2(d), to the extent determined by the Reviewing Party. 

(c)    Reviewing Party Determination. A Reviewing Party chosen by the Board shall determine whether Indemnitee is
entitled to indemnification, subject to the following: 
 (i)    A Reviewing Party so chosen shall act in
the utmost good faith to assure Indemnitee a complete opportunity to present to such Reviewing Party Indemnitee’s case that Indemnitee has met the applicable standard of conduct. 

(ii)    Indemnitee shall be deemed to have acted in good faith if Indemnitee’s action is based on the
records or books of account of a Covered Entity, 

  
 7 

 
including, without limitation, its financial statements, or on information supplied to Indemnitee by the officers or employees of a Covered Entity in the course of their duties, or on the advice
of legal counsel for a Covered Entity or on information or records given, or reports made, to a Covered Entity by an independent certified public accountant or by an appraiser or other expert selected with reasonable care by a Covered Entity. In
addition, the knowledge and/or actions, or failure to act, of any director, officer, agent or employee of a Covered Entity shall not be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement. Whether or
not the foregoing provisions of this Section 4(c)(ii) are satisfied, it shall in any event be presumed that Indemnitee has at all times acted in good faith and in a manner Indemnitee reasonably believed to be in or not
opposed to the best interests of the Company. Any Person seeking to overcome this presumption shall have the burden of proof and the burden of persuasion, by clear and convincing evidence. 

(iii)    If a Reviewing Party chosen pursuant to this Section 4(c) shall not have
made a determination whether Indemnitee is entitled to indemnification within thirty (30) days after receipt by the Company of the request therefor, the requisite determination of entitlement to indemnification shall be deemed to have been made
and Indemnitee shall be entitled to such indemnification, absent (A) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with
the request for indemnification, or (B) a prohibition of such indemnification under applicable law; provided, however, that such thirty (30) day period may be extended for a reasonable time, not to exceed an additional fifteen
(15) days, if the Reviewing Party in good faith requires such additional time for obtaining or evaluating documentation and/or information relating thereto; and provided, further, that the foregoing provisions of this
Section 4(c)(iii) shall not apply if (I) the determination of entitlement to indemnification is to be made by the stockholders of the Company, (II) a special meeting of stockholders is called by the Board for such
purpose within thirty (30) days after the stockholders are chosen as the Reviewing Party, (III) such meeting is held for such purpose within sixty (60) days after having been so called, and (IV) such determination is made
thereat. 
 (d)    Appeal to Court. Notwithstanding a determination by a Reviewing Party chosen pursuant to
Section 4(c) that Indemnitee is not entitled to indemnification with respect to a specific Claim or Proceeding (an “Adverse Determination”), Indemnitee shall have the right to apply to the court in which
that Claim or Proceeding is or was pending or any other court of competent jurisdiction for the purpose of enforcing Indemnitee’s right to indemnification pursuant to this Agreement, provided that Indemnitee shall commence any such Proceeding
seeking to enforce Indemnitee’s right to indemnification within one (1) year following the date upon which Indemnitee is notified in writing by the Company of the Adverse Determination. In the event of any dispute between the parties
concerning their respective rights and obligations hereunder, the Company shall have the burden of proving that the Company is not obligated to make the payment or advance claimed by Indemnitee. 

(e)    Presumption of Success. The Company acknowledges that a settlement or other disposition short of final
judgment shall be deemed a successful resolution for purposes of 

  
 8 

 
Section 4(a) if it permits a party to avoid expense, delay, distraction, disruption or uncertainty. In the event that any Proceeding to which Indemnitee is a party is
resolved in any manner other than by adverse judgment against Indemnitee (including, without limitation, settlement of such Proceeding with or without payment of money or other consideration), it shall be presumed that Indemnitee has been successful
on the merits or otherwise in such Proceeding. Anyone seeking to overcome this presumption shall have the burden of proof and the burden of persuasion, by clear and convincing evidence. 

(f)    Settlement of Claims. The Company shall not be liable to indemnify Indemnitee under this Agreement or
otherwise for any amounts paid in settlement of any Proceeding effected without the Company’s written consent. The Company shall not settle any Proceeding in any manner that would impose any penalty or limitation on Indemnitee without
Indemnitee’s written consent. Neither the Company nor the Indemnitee will unreasonably withhold their consent to any proposed settlement. The Company shall not be liable to indemnify the Indemnitee under this Agreement with regard to any
judicial award if the Company was not given a reasonable and timely opportunity, at its expense, to participate in the defense of such action; the Company’s liability hereunder shall not be excused if participation in the Proceeding by the
Company was barred by this Agreement. 
 5.    Additional Indemnification Rights; Non-exclusivity. 
 (a)    Scope. The Company hereby agrees to
indemnify Indemnitee to the fullest extent permitted by law, even if such indemnification is not specifically authorized by the other provisions of this Agreement or any other agreement, the Organizational Documents of any Covered Entity or by
applicable law. In the event of any change after the Effective Date in any applicable law, statute or rule that expands the right of a Delaware corporation to indemnify a member of its board of directors or an officer, employee, controlling person,
agent or fiduciary, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits afforded by such change. In the event of any change in any applicable law, statute or rule that narrows the right of a
Delaware corporation to indemnify a member of its board of directors or an officer, employee, controlling person, agent or fiduciary, such change, to the extent not otherwise required by such law, statute or rule to be applied to this Agreement,
shall have no effect on this Agreement or the parties rights and obligations hereunder except as set forth in Section 9(a) hereof. 

(b)    Non-exclusivity. The rights to indemnification, contribution
and advancement of Expenses provided in this Agreement shall not be deemed exclusive of, but shall be in addition to, any other rights to which Indemnitee may at any time be entitled under the Organizational Documents of any Covered Entity, any
other agreement, any vote of stockholders or Disinterested Directors, the laws of the State of Delaware or otherwise. Furthermore, no right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right
and remedy shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion of any right or remedy hereunder or otherwise shall not prevent the
concurrent assertion of any other right or remedy. The rights to indemnification, contribution and advancement of Expenses provided in this Agreement shall continue as to Indemnitee for any action Indemnitee took or did not take while serving in an
indemnified capacity even though Indemnitee may have ceased to serve in such capacity. 

  
 9 

 6.    No Duplication of Payments. The
Company shall not be liable under this Agreement to make any payment of any amount otherwise indemnifiable hereunder, or for which advancement is provided hereunder, if and to the extent Indemnitee has otherwise actually received such payment,
whether pursuant to any insurance policy, the Organizational Documents of any Covered Entity or otherwise. For the avoidance of doubt, notwithstanding that the Indemnitee may have certain rights to indemnification and insurance provided by other
entities or organizations, the Company acknowledges and agrees that it is the indemnitor of first resort (i.e., its obligations to Indemnitee are primary and any obligation of the other indemnitors to advance expenses or to provide
indemnification for the same expenses or liabilities incurred by Indemnitee are secondary). 
 7.    Mutual
Acknowledgment. Both the Company and Indemnitee acknowledge that, in certain instances, Federal law or public policy may override applicable state law and prohibit the Company from indemnifying its directors and officers under this Agreement
or otherwise. For example, the Company and Indemnitee acknowledge that the SEC has taken the position that indemnification is not permissible for liabilities arising under certain Federal securities laws, and Federal legislation prohibits
indemnification for certain violations of the Employee Retirement Income Security Act of 1979, as amended. Indemnitee understands and acknowledges that the Company has undertaken, or may be required in the future to undertake, with the SEC to submit
the question of indemnification to a court in certain circumstances for a determination of the Company’s right under public policy to indemnify Indemnitee, and any right to indemnification hereunder shall be subject to, and conditioned upon,
any such required court determination. 
 8.    Liability Insurance. The Company shall
maintain liability insurance applicable to directors and officers of the Company and shall cause Indemnitee to be named as an insured in such a manner as to provide Indemnitee the same rights and benefits as are accorded to the most favorably
insured of the Company’s officers and directors (other than in the case of an independent director liability insurance policy if Indemnitee is not an independent or outside director). The Company shall advise Indemnitee as to the general terms
of, and the amounts of coverage provide by, any liability insurance policy described in this Section 8 and shall promptly notify Indemnitee if, at any time, any such insurance policy is terminated or expired without renewal
or if the amount of coverage under any such insurance policy will be decreased. 

9.    Exceptions. Any other provision herein to the contrary notwithstanding, the Company
shall not be obligated pursuant to the terms of this Agreement to indemnify Indemnitee: 
 (a)    against
any Losses or Expenses, or advance Expenses to Indemnitee, with respect to Claims initiated or brought voluntarily by Indemnitee, and not by way of defense (including, without limitation, affirmative defenses and counter-claims), except
(i) Claims to establish or enforce a right to indemnification, contribution or advancement with respect to an Indemnification Event, whether under this Agreement, any other agreement or insurance policy, the Company’s Organizational
Documents of any Covered Entity, the laws of the State of Delaware or otherwise, or (ii) if the Board has approved specifically the initiation or bringing of such Claim; 

  
 10 

 (b)    against any Losses or Expenses, or advance
Expenses to Indemnitee, with respect to Claims arising (i) with respect to an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within the meaning of Section 16(b) of
the Exchange Act or (ii) pursuant to Section 304 or 306 of the Sarbanes-Oxley Act of 2002, as amended, or any rule or regulation promulgated pursuant thereto; or 

(c)    if, and to the extent, that a court of competent jurisdiction renders a final, unappealable decision
that such indemnification is not lawful. 
 10.    Miscellaneous. 

(a)    Counterparts. This Agreement may be executed in one or more counterparts, each of which shall
constitute an original. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any
counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes. 

(b)    Binding Effect; Successors and Assigns. This Agreement shall be binding upon and inure to the benefit
of and be enforceable by the parties hereto and their respective successors and assigns (including with respect to the Company, any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the
business and/or assets of the Company) and with respect to Indemnitee, his or her spouse, heirs, and personal and legal representatives. The Company shall require and cause any successor or assign (whether direct or indirect, by purchase, merger,
consolidation or otherwise) to all, substantially all, or a substantial part, of the business and/or assets of the Company, to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to
perform if no such succession or assignment had taken place. This Agreement shall continue in effect with respect to Claims relating to Indemnification Events regardless of whether Indemnitee continues to serve as a director, officer, employee,
controlling person, agent or fiduciary of any Covered Entity. 
 (c)    Notice. All notices and other
communications required or permitted hereunder shall be in writing, shall be effective when given, and shall in any event be deemed to be given (a) five (5) days after deposit with the U.S. Postal Service or other applicable postal service, if
delivered by first class mail, postage prepaid, (b) upon delivery, if delivered by hand, (c) one (1) business day after the business day of deposit with Federal Express or similar, nationally recognized overnight courier, freight prepaid,
or (d) one (1) business day after the business day of delivery by confirmed facsimile transmission or electronic mail, and if deliverable by facsimile transmission, with copy by other means permitted hereunder, including electronic mail, and
addressed, if to Indemnitee, to the Indemnitee’s address, electronic mail address or facsimile number (as applicable) as set forth beneath the Indemnitee’s signature to this Agreement, or, if to the Company, at the address or facsimile
number (as applicable) of its principal corporate offices (attention: Secretary), or at such other address or facsimile number (as applicable) as such party may designate to the other parties hereto. 

  
 11 

 (d)    Enforceability. This Agreement is a legal, valid and
binding obligation of the Company, enforceable against the Company in accordance with its terms. 
 (e)    Consent to
Jurisdiction. The Company and Indemnitee each hereby irrevocably consent to the jurisdiction and venue of the courts of the State of Delaware for all purposes in connection with any Proceeding which arises out of or relates to this Agreement and
agree that any Proceeding instituted under this Agreement shall be commenced, prosecuted and continued only in the courts of the State of Delaware. 

(f)    Severability. The provisions of this Agreement shall be severable in the event that any of the provisions
hereof (including any provision within a single section, paragraph or sentence) are held by a court of competent jurisdiction to be invalid, void or otherwise unenforceable, and the remaining provisions shall remain enforceable to the fullest extent
permitted by law. Furthermore, to the fullest extent possible, the provisions of this Agreement (including, without limitation, each portion of this Agreement containing any provision held to be invalid, void or otherwise unenforceable that is not
itself invalid, void or unenforceable) shall be construed so as to give effect to the extent manifested by the provision held invalid, illegal or unenforceable. 

(g)    Choice of Law. This Agreement shall be governed by and its provisions shall be construed and enforced in
accordance with, the laws of the State of Delaware, without regard to the conflict of laws principles thereof. 

(h)    Subrogation. In the event of payment under this Agreement, the Company shall be subrogated to the extent of
such payment to all of the rights of recovery of Indemnitee who shall execute all documents required and shall do all acts that may be necessary to secure such rights and to enable the Company effectively to bring suit to enforce such rights. 

(i)    Amendment and Termination. No amendment, modification, termination or cancellation of this Agreement shall
be effective unless it is in a writing signed by the parties to be bound thereby. Notice of same shall be provided to all parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other
provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver. 
 (j)    No
Construction as Employment Agreement. This Agreement is not an employment agreement between the Company and the Indemnitee and nothing contained in this Agreement shall be construed as giving Indemnitee any right to be retained or continue in
the employ or service of any Covered Entity. 
 (k)    Supersedes Previous Agreements. This Agreement supersedes
all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof. All such prior agreements and understandings are hereby terminated and deemed of no further force or effect.

  
 12 

 [remainder of page intentionally left blank; signature page follows] 

  
 13 

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

			
	COMPANY:	 	
	
	MP Materials Corp.

 
			
		
	By:	 	  

 
			
	Name:	 	  

 
			
	Title:	 	  

 
			
	
	INDEMNITEE:

 
			
	
	  

  
 14EX-10.9

 Exhibit 10.9 

EMPLOYMENT AGREEMENT 

This EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into as of this 7th day of August 2020 (the
“Effective Date”), by and between MP Mine Operations LLC (the “Company”) and James H. Litinsky (the “Executive”). 

W I T N E S S T H : 

WHEREAS, on July 15, 2020, the Company entered into a definitive agreement with Fortress Value Acquisition Corp.
(“FVAC”), a special purpose acquisition company (SPAC), and certain other parties, which contemplates a series of transactions following which the Company will merge with FVAC and the equity of the Company will be exchanged for
publicly traded securities of the combined company (the “Going Public Transaction”), which combined company will be named MP Materials Corp. (“MP Materials”); and

 WHEREAS, in anticipation of the Going Public Transaction, the Company desires to employ Executive and to enter into this Agreement
embodying the terms of such employment, and Executive desires to enter into this Agreement and to accept such employment, subject to the terms and provisions of this Agreement; and 

WHEREAS, effective upon the closing of the Going Public Transaction (the “Closing”), without further action by the parties
hereto, the Company shall assign and shall cause MP Materials to assume this Agreement, at which time, all references to the Company thereafter shall instead refer to MP Materials. 

NOW, THEREFORE, in consideration of the promises and mutual covenants contained herein and for other good and valuable consideration, the
receipt and sufficiency of which are mutually acknowledged, the Company and Executive hereby agree as follows: 

Section 1.    Definitions. Capitalized terms not otherwise defined in this Agreement
shall have the meaning set forth on Appendix A, attached hereto. 

Section 2.    Acceptance and Term of Employment. 

The Company agrees to employ Executive, and Executive agrees to serve the Company, on the terms and conditions set forth herein.
Executive’s employment hereunder shall continue until terminated as provided in Section 7 hereof (the “Term of Employment”). 
  

	 	Section	 3.    Position, Duties, and Responsibilities; Place of Performance.

 (a)    Position, Duties, and Responsibilities. On the Effective Date, Executive shall be
appointed as the Chairman of the Board and shall, subject to his continued service as a director of the Company, hold that title during the Term of Employment and, as requested by the Board, Executive shall serve as an officer and/or director of any
member of the Company Group. Beginning on the date of the Closing and thereafter during the Term of Employment, Executive shall be employed by and serve as the Chief Executive Officer of the Company, reporting directly to the Board, and having such
duties, authority and responsibilities commensurate with such position and as may be reasonably assigned to Executive from time to time by the Board. 

 
During the Term of Employment, Executive shall not be entitled to any additional compensation in connection with his service on the Board or as a director or officer of any member of the Company
Group. 
 (b)    Performance. Executive shall devote Executive’s full business time, attention, skill, and
best efforts to the performance of Executive’s duties under this Agreement and shall not engage in any other business or occupation during the Term of Employment, including, without limitation, any activity that (x) conflicts with the
interests of the Company or any other member of the Company Group, (y) interferes with the proper and efficient performance of Executive’s duties for the Company or for any other member of the Company Group, or (z) interferes with
Executive’s exercise of judgment in the Company’s best interests. Notwithstanding the foregoing, nothing herein shall preclude Executive from (i) serving as a member of the board of directors or advisory board (or the equivalent in
the case of a non-corporate entity) of a non-competing for-profit business and/or one or more charitable organizations,
(ii) engaging in charitable activities and community affairs, (iii) managing Executive’s personal investments and affairs and (iv) being a partner, member, employee or consultant of JHL Capital Group LLC (“JHL”)
and providing services to JHL and its affiliates; provided, however, that the activities set out in clauses (i), (ii), (iii) and (iv) shall be limited by Executive so as not to materially interfere, individually or in the
aggregate, with the performance of Executive’s duties and responsibilities hereunder. Executive shall not become a director of any for profit entity without first receiving the approval of the nominating and corporate governance committee of
the Board, which shall not be unreasonably withheld. 
 (c)    Principal Place of Employment. Executive’s
principal place of employment shall be at the Company’s corporate headquarters, although Executive understands and agrees that Executive may be required to travel from time to time for business reasons. 

Section 4.    Compensation. 

(a)    Base Salary. Executive’s base salary shall be $0, except to the extent that any applicable federal,
state or local law requires payment of a minimum wage or salary to Executive. 
 (b)    Adjustment to
Compensation. At any time on or after the one-year anniversary of the Closing, Executive may request that the Compensation Committee, in consultation with such committee’s compensation consultant,
prepare and present a proposal to Executive of a compensation package (including base salary, annual cash and equity incentives and severance) that is competitive for a publicly-traded company of the Company’s size and consistent with the
Company’s then-current pay strategy for the Company’s senior executives. At such time, the parties agree to negotiate in good faith to agree to Executive’s compensation package and to amend this Agreement as appropriate to reflect the
foregoing. 
 Section 5.    Employee Benefits. 

During the Term of Employment, Executive shall be entitled to participate in health, insurance, retirement, and other benefits provided
generally to senior executives of the Company. Executive shall also be entitled to the same number of holidays and sick days, as well 

  
 -2- 

 
as any other benefits, in each case as are generally allowed to senior executives of the Company in accordance with the Company policy as in effect from time to time. Executive will also be
entitled to four (4) weeks of vacation annually. Nothing contained herein shall be construed to limit the Company’s ability to amend, suspend, or terminate any employee benefit plan or policy at any time, and the right to do so is
expressly reserved so long as such amendment, suspension or termination is not particularly targeted at Executive. 

Section 6.    Reimbursement of Business Expenses. 

Executive is authorized to incur reasonable business expenses in carrying out Executive’s duties and responsibilities under this
Agreement, and the Company shall promptly reimburse Executive for all such reasonable business expenses, subject to documentation in accordance with the Company’s reimbursement policy, as in effect from time to time. 

 

	 	Section	 7.    Termination of Employment. 

(a)    General. The Term of Employment, and Executive’s employment hereunder, shall terminate upon the earliest
to occur of (i) Executive’s death, (ii) a termination by reason of a Disability, (iii) a termination by the Company with or without Cause, and (iv) a termination by Executive with or without Good Reason. Except as otherwise
expressly required by law (e.g., COBRA) or as specifically provided herein, all of Executive’s rights to future employee benefits and other compensatory amounts hereunder (if any) shall cease upon the termination of Executive’s
employment hereunder. 
 (b)    Deemed Resignation. Upon any termination of Executive’s employment for any
reason, except as may otherwise be requested by the Company in writing and agreed upon in writing by Executive, Executive shall be deemed to have resigned from any and all directorships, committee memberships, and any other positions Executive holds
with the Company or any other member of the Company Group. 
 (c)    Termination Due to Death or Disability.
Executive’s employment shall terminate automatically upon Executive’s death. The Company may terminate Executive’s employment immediately upon the occurrence of a Disability, such termination to be effective upon Executive’s
receipt of written notice of such termination. Upon Executive’s death or in the event that Executive’s employment is terminated due to Executive’s Disability, Executive or Executive’s estate or Executive’s beneficiaries, as
the case may be, shall be entitled to the Accrued Obligations. Following Executive’s death or a termination of Executive’s employment by reason of a Disability, except as set forth in this Section 7(c), Executive shall have no further
rights to any compensation or any other benefits under this Agreement. 
 (d)    Termination by the Company for
Cause. The Company may terminate Executive’s employment at any time upon the occurrence of an act constituting Cause, effective upon delivery to Executive of written notice of such termination; provided, that such notice of termination has
first been approved by a majority of the members of the Board excluding Executive (“Board Approval of Notice”). In the event that the Company terminates Executive’s employment for Cause, he shall be entitled only to the Accrued
Obligations. Following such termination of Executive’s employment for Cause, except as set forth in this Section 7(d), Executive shall have no further rights to any compensation or any other benefits under this Agreement. 

  
 -3- 

 (e)    Termination by the Company without Cause. The Company may
terminate Executive’s employment at any time without Cause, effective upon delivery to Executive of written notice of such termination, subject to Board Approval of Notice. In the event that Executive’s employment is terminated by the
Company without Cause (other than due to death or Disability), Executive shall be entitled to: 

(i)    The Accrued Obligations; and 

(ii)    Severance payments in the aggregate amount of $2 million, payable in substantially equal
installments during the Severance Term in accordance with the Company’s regular payroll practices. 
 Notwithstanding the foregoing, the payments and
benefits described in clause (ii) above shall immediately terminate, and the Company shall have no further obligations to Executive with respect thereto, in the event that Executive breaches any provision set forth in Section 9 hereof.
Following such termination of Executive’s employment by the Company without Cause, except as set forth in this Section 7(e), Executive shall have no further rights to any compensation or any other benefits under this Agreement. 

(f)    Termination by Executive with Good Reason. Executive may terminate Executive’s employment with Good
Reason by providing the Company thirty (30) days’ written notice setting forth in reasonable detail the nature of the Good Reason. During such thirty (30) day notice period, the Company shall have a cure right (if curable), and if not
cured within such period, Executive’s termination will be effective upon the expiration of such cure period, and Executive shall be entitled to the same payments and benefits as provided in Section 7(e) hereof for a termination by the
Company without Cause, subject to the same conditions on payment and benefits as described in Section 7(e) hereof. Following such termination of Executive’s employment by Executive with Good Reason, except as set forth in this
Section 7(f), Executive shall have no further rights to any compensation or any other benefits under this Agreement. 

(g)    Termination by Executive without Good Reason. Executive may terminate Executive’s employment without
Good Reason by providing the Company thirty (30) days’ written notice of such termination. In the event of a termination of employment by Executive under this Section 7(g), Executive shall be entitled only to the Accrued Obligations.
In the event of termination of Executive’s employment under this Section 7(g), the Company may, in its sole and absolute discretion, by written notice accelerate such date of termination without changing the characterization of such
termination as a termination by Executive without Good Reason. Following such termination of Executive’s employment by Executive without Good Reason, except as set forth in this Section 7(g), Executive shall have no further rights to any
compensation or any other benefits under this Agreement. 
 (h)    Release. Notwithstanding any provision herein
to the contrary, the payment of any amount or provision of any benefit pursuant to subsection (e) or (f) of this Section 7 other than the Accrued Obligations (collectively, the “Severance Benefits”) shall be

  
 -4- 

 
conditioned upon Executive’s execution, delivery to the Company, and non-revocation of the Release of Claims (and the expiration of any revocation
period contained in such Release of Claims) within sixty (60) days following the date of Executive’s termination of employment hereunder (the “Release Execution Period”). If Executive fails to execute the Release of Claims
in such a timely manner so as to permit any revocation period to expire prior to the end of such sixty (60) day period, or timely revokes Executive’s acceptance of such release following its execution, Executive shall not be entitled to
any of the Severance Benefits. No portion of the Severance Benefits (other than Accrued Obligations) shall be paid until the Release of Claims has become effective and all such amounts shall commence to be paid on the first regular payroll date of
the Company after the Release of Claims has become effective; provided, that, if the Release Execution Period overlaps two calendar years, the first payment shall not be made sooner than the first day of the second year, and shall include any
missed payments. 
 Section 8.    Certain Payments. 

In the event that (a) Executive is entitled to receive any payment, benefit or distribution of any type to or for the benefit of
Executive, whether paid or payable, provided or to be provided, or distributed or distributable, pursuant to the terms of this Agreement or otherwise, that would constitute a “parachute payment” (as defined in Section 280G(b)(2) of
the Code) (collectively, the “Payments”), and (b) the net after-tax amount of such Payments, after Executive has paid all taxes due thereon (including, without limitation, taxes due under
Section 4999 of the Code) is less than the net after-tax amount of all such Payments otherwise due to Executive in the aggregate, if such Payments were reduced to an amount equal to 2.99 times
Executive’s “base amount” then the aggregate amount of such Payments payable to Executive shall be reduced to an amount that will equal 2.99 times Executive’s base amount (as defined in Section 280G(b)(3) of the Code). To
the extent such aggregate “parachute payment” amounts are required to be so reduced, the parachute payment amounts due to Executive (but no non-parachute payment amounts) shall be reduced in the
following order: (i) the parachute payments that are payable in cash shall be reduced (if necessary, to zero) with amounts that are payable last reduced first; (ii) payments and benefits due in respect of any equity, valued at full value
(rather than accelerated value), with the highest values reduced first (as such values are determined under Treasury Regulation Section 1.280G-1, Q&A 24); and (iii) all other non-cash benefits not otherwise described in clause (ii) of this Section 8 with amounts that are payable or to be provided last reduced first. 

 

	 	Section	 9.    Restrictive Covenants 

(a)    General. Executive acknowledges and recognizes the highly competitive nature of the business of the Company
Group, that access to Confidential Information renders Executive special and unique within the industry of the Company Group, and that Executive will have the opportunity to develop substantial relationships with existing and prospective clients,
accounts, customers, consultants, contractors, investors, and strategic partners of the Company Group during the course of and as a result of Executive’s employment with the Company. In light of the foregoing, as a condition of Executive’s
employment by the Company, and in consideration of Executive’s employment hereunder and the compensation and benefits provided herein, Executive acknowledges and agrees to the covenants contained in this Section 9. Executive further
recognizes and acknowledges that the restrictions and limitations set forth in this Section 9 are reasonable and valid in geographical and temporal scope and in all other respects and are essential to protect the value of the business and
assets of the Company Group. 

  
 -5- 

 (b)    Confidential Information. 

(i)    Executive acknowledges that, during the Term of Employment, Executive will have access to
information about the Company Group and that Executive’s employment with the Company shall bring Executive into close contact with confidential and proprietary information of the Company Group. In recognition of the foregoing, Executive agrees,
at all times during the Term of Employment and thereafter, to hold in confidence, and not to use, except for the benefit of the Company Group, or to disclose to any Person without written authorization of the Company, any Confidential Information;
provided, that nothing in this Section 9(b)(i) shall prevent Executive from disclosing Confidential Information as may be required by applicable law, rule or court order. 

(ii)    Nothing in this Agreement shall prohibit or impede Executive from communicating, cooperating or
filing a complaint with any U.S. federal, state or local governmental or law enforcement branch, agency or entity (collectively, a “Governmental Entity”) with respect to possible violations of any U.S. federal, state or local law or
regulation, or otherwise making disclosures to any Governmental Entity, in each case, that are protected under the whistleblower provisions of any such law or regulation, provided that in each case such communications and disclosures are consistent
with applicable law. Executive understands and acknowledges that an individual shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that is made (i) in confidence to a
federal, state, or local government official or to an attorney solely for the purpose of reporting or investigating a suspected violation of law, or (ii) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is
made under seal. Executive understands and acknowledges further that an individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use
the trade secret information in the court proceeding, if the individual files any document containing the trade secret under seal; and does not disclose the trade secret, except pursuant to court order. Moreover, Executive is not required to give
prior notice to (or get prior authorization from) the Company regarding any such communication or disclosure. Notwithstanding the foregoing, under no circumstance will Executive be authorized to disclose any information covered by attorney-client
privilege or attorney work product of any member of the Company Group without prior written consent of Company’s General Counsel or other officer designated by the Company. Participant does not need the prior authorization of (or to give notice
to) any member of the Company Group regarding any communication, disclosure, or activity permitted by this paragraph. 

(c)    Assignment of Intellectual Property. 

(i)    Executive agrees that he will, without additional compensation, promptly make full written
disclosure to the Company, and will hold in trust for the sole 

  
 -6- 

 
right and benefit of the Company all developments, original works of authorship, inventions, concepts, know-how, improvements, trade secrets, and similar
proprietary rights, whether or not patentable or registrable under copyright or similar laws, which Executive may (or have previously) solely or jointly conceive or develop or reduce to practice, or cause to be conceived or developed or reduced to
practice, during the Term of Employment, whether or not during regular working hours, provided they arise out of Executive’s employment with the Company or are developed through the use of equipment, supplies, or facilities of any member of the
Company Group, or any Confidential Information, or in consultation with personnel of any member of the Company Group (collectively referred to as “Developments”). Executive further acknowledges that all Developments made by
Executive (solely or jointly with others) within the scope of and during the Term of Employment are “works made for hire” (to the greatest extent permitted by applicable law) for which Executive is compensated by the Company, unless
regulated otherwise by law, but that, in the event any such Development is deemed not to be a work made for hire, Executive hereby assigns to the Company, or its designee, all Executive’s right, title, and interest throughout the world in and
to any such Development. 
 (ii)    Executive agrees to reasonably assist the Company, or its designee,
at the Company’s expense, in every way to secure the rights of the Company Group in the Developments and any copyrights, patents, trademarks, service marks, database rights, domain names, mask work rights, moral rights, and other intellectual
property rights relating thereto in any and all countries, including the disclosure to the Company of all pertinent information and data with respect thereto, the execution of all applications, specifications, oaths, assignments, recordations, and
all other instruments that the Company shall deem necessary in order to apply for, obtain, maintain, and transfer such rights and in order to assign and convey to the Company Group the sole and exclusive right, title, and interest in and to such
Developments, and any intellectual property and other proprietary rights relating thereto. Executive further agrees that Executive’s obligation to execute or cause to be executed, when it is in Executive’s power to do so, any such
instrument or papers shall continue after the termination of the Term of Employment until the expiration of the last such intellectual property right to expire in any country of the world; provided, however, that the Company shall
reimburse Executive for Executive’s reasonable expenses incurred in connection with carrying out the foregoing obligation. If the Company is unable because of Executive’s mental or physical incapacity or unavailability for any other reason
to secure Executive’s signature to apply for or to pursue any application for any United States or foreign patents or copyright registrations covering Developments or original works of authorship assigned to the Company as above, then Executive
hereby irrevocably designates and appoints the Company and its duly authorized officers and agents as Executive’s agent and attorney in fact to act for and in Executive’s behalf and stead to execute and file any such applications or
records and to do all other lawfully permitted acts to further the application for, prosecution, issuance, maintenance, and transfer of letters patent or registrations thereon with the same legal force and effect as if originally executed by me.
Executive hereby waives and irrevocably quitclaims to the Company any and all claims, of any nature whatsoever, that Executive now or hereafter have for past, present, or future infringement of any and all proprietary rights assigned to the Company.

  
 -7- 

 (d)    Non-Competition.
During the Term of Employment and the Post-Termination Restricted Period, Executive shall not, directly or indirectly engage in, have any equity interest in, or manage, provide services to or operate any person, firm, corporation, partnership or
business (whether as director, officer, employee, agent, representative, partner, member, security holder, consultant or otherwise) that engages in any business, directly or indirectly (through a subsidiary or otherwise), which competes with the
Business within the United States of America or any other jurisdiction in which any member of the Company Group engages in business, derives a material portion of its revenues or has demonstrable plans to commence business activities in.
Notwithstanding the foregoing, Executive may at any time own, for investment purposes only, up to five percent (5%) of the equity of any publicly-held company whose equity is either listed on a national stock exchange or on the NASDAQ National
Market System. 
 (e)    Non-Interference. During the Term of Employment
and the Post-Termination Restricted Period, Executive shall not, directly or indirectly for Executive’s own account or for the account of any other Person, engage in Interfering Activities. 

(f)    Return of Documents. In the event of Executive’s termination of employment hereunder for any reason,
Executive shall deliver to the Company (and will not keep in Executive’s possession, recreate, or deliver to anyone else) or destroy, at Executive’s sole option, any and all Confidential Information and all other documents, materials,
information, and property otherwise belonging to the Company Group; provided, that Executive shall be entitled to retain his personal contacts, digital or physical rolodex and/or any other personal property he may keep in his office. 

(g)    Independence; Severability; Blue Pencil. Each of the rights enumerated in this Section 9 shall
be independent of the others and shall be in addition to and not in lieu of any other rights and remedies available to the Company Group at law or in equity. If any of the provisions of this Section 9 or any part of any of them is hereafter
construed or adjudicated to be invalid or unenforceable, the same shall not affect the remainder of this Section 9, which shall be given full effect without regard to the invalid portions. If any of the covenants contained herein are held to be
invalid or unenforceable because of the duration of such provisions or the area or scope covered thereby, each of the Company and Executive agree that the court making such determination shall have the power to reduce the duration, scope, and/or
area of such provision to the maximum and/or broadest duration, scope, and/or area permissible by law, and in its reduced form said provision shall then be enforceable. 

(h)    Injunctive Relief. Executive expressly acknowledges that any breach or threatened breach of any of the terms
and/or conditions set forth in this Section 9 may result in substantial, continuing, and irreparable injury to the members of the Company Group. Therefore, Executive hereby agrees that, in addition to any other remedy that may be available
to the Company, any member of the Company Group shall be entitled to seek injunctive relief, specific performance, or other equitable relief by a court of appropriate jurisdiction in the event of any breach or threatened breach of the terms of this
Section 9. Notwithstanding any other provision to the contrary, Executive acknowledges and agrees that the Post-Termination Restricted Period shall be tolled during any period of violation of any of the covenants in this Section 9 and
during any other period required for litigation during which the Company or any other member of the Company Group seeks to enforce such covenants against Executive if it is ultimately determined that Executive was in breach of such covenants. 

  
 -8- 

 (i)    Disclosure of Covenants. As long as it remains in effect,
Executive will disclose the existence of the covenants contained in this Section 9 to any prospective employer, partner, co-venturer, investor, or lender prior to entering into an employment, partnership,
or other business relationship with such Person or entity. 
 (j)    Other Covenants. Notwithstanding anything
contained in this Agreement to the contrary, in the event that Executive is subject to similar restrictive covenants pursuant to any other agreement with the Company or any other member of the Company Group (“Other Covenants”), the
covenants contained in this Agreement shall be in addition to, and not in lieu of, any such Other Covenants, and enforcement by the Company of the covenants contained in this Agreement shall not preclude the Company or any other applicable member of
the Company Group from enforcing such Other Covenants in accordance with their terms. 

Section 10.    Representations and Warranties of Executive. 

Executive represents and warrants to the Company that: 

(a)    Executive is entering into this Agreement voluntarily and Executive’s employment hereunder and compliance with
the terms and conditions hereof will not conflict with or result in the breach by Executive of any agreement to which he is a party or by which he may be bound; 

(b)    By entering into this Agreement Executive has not violated any
non-solicitation, non-competition, or other similar covenant or agreement with any Person by which he is or may be bound; 

(c)    In connection with Executive’s employment with the Company, Executive will not use any confidential or
proprietary information he may have obtained in connection with employment or service with any prior service recipient; and 

(d)    Executive has not been terminated from any prior employer or service recipient, or otherwise disciplined in
connection any such relationship, in connection with, or as a result of, any claim of workplace sexual harassment or sex or gender discrimination, and to Executive’s knowledge, Executive has not been the subject of any investigation, formal
allegation, civil or criminal complaint, charge, or settlement regarding workplace sexual harassment or sex or gender discrimination. 

Section 11.    Taxes. 

The Company may withhold from any payments made under this Agreement or otherwise made in connection with Executive’s employment
hereunder, all applicable taxes, including but not limited to income, employment, and social insurance taxes, as shall be required by law. If any such taxes are paid or advanced by the Company on behalf of Executive, Executive shall remain
responsible for, and shall repay, such amounts to the Company, promptly following notice thereof by the Company. Executive acknowledges and represents that the 

  
 -9- 

 
Company has not provided any tax advice to Executive in connection with this Agreement and that he has been advised by the Company to seek tax advice from Executive’s own tax advisors
regarding this Agreement and payments that may be made to Executive pursuant to this Agreement, including specifically, the application of the provisions of Section 409A of the Code to such payments. 

Section 12.    Mitigation. 

Executive shall not be required to mitigate the amount of any payment provided pursuant to this Agreement by seeking other employment or
otherwise and the amount of any payment provided for pursuant to this Agreement shall not be reduced by any compensation earned as a result of Executive’s other employment or otherwise. 

Section 13.    Additional Section 409A Provisions. 

Notwithstanding any provision in this Agreement to the contrary: 

(a)    Any payment of nonqualified deferred compensation (within the meaning of Section 409A of the Code) otherwise
required to be made hereunder to Executive at any date as a result of the termination of Executive’s employment shall be delayed for such period of time as may be necessary to meet the requirements of Section 409A(a)(2)(B)(i) of the Code
(the “Delay Period”). On the first business day following the expiration of the Delay Period, Executive shall be paid, in a single cash lump sum, an amount equal to the aggregate amount of all payments delayed pursuant to the
preceding sentence, and any remaining payments not so delayed shall continue to be paid pursuant to the payment schedule set forth herein. 

(b)    Each payment in a series of payments hereunder shall be deemed to be a separate payment for purposes of
Section 409A of the Code. 
 (c)    Notwithstanding anything herein to the contrary, the payment (or commencement
of a series of payments) hereunder of any nonqualified deferred compensation (within the meaning of Section 409A of the Code) upon a termination of employment shall be delayed until such time as Executive has also undergone a “separation
from service” as defined in Treas. Reg. 1.409A-1(h), at which time such nonqualified deferred compensation (calculated as of the date of Executive’s termination of employment hereunder) shall be
paid (or commence to be paid) to Executive on the schedule set forth in Section 7 as if Executive had undergone such termination of employment (under the same circumstances) on the date of Executive’s ultimate “separation from
service.” 
 (d)    To the extent that any right to reimbursement of expenses or payment of any benefit in-kind under this Agreement constitutes nonqualified deferred compensation (within the meaning of Section 409A of the Code), (i) any such expense reimbursement shall be made by the Company no later than the
last day of the taxable year following the taxable year in which such expense was incurred by Executive, (ii) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange
for another benefit, and (iii) the amount of expenses eligible for reimbursement or in-kind benefits provided during any taxable year shall not affect the expenses eligible for reimbursement or in-kind benefits to be provided in any other taxable year; provided, however, that the foregoing clause shall not be violated with regard to expenses reimbursed under any arrangement covered by
Section 105(b) of the Code solely because such expenses are subject to a limit related to the period the arrangement is in effect. 

  
 -10- 

 (e)    While the payments and benefits provided hereunder are intended
to be structured in a manner to avoid the implication of any penalty taxes under Section 409A of the Code, and shall be interpreted in a manner consistent with such intention, in no event whatsoever shall the Board any member of the Company
Group or any of their respective advisors be liable for any additional tax, interest, or penalties that may be imposed on Executive as a result of Section 409A of the Code or any damages for failing to comply with Section 409A of the Code
(other than for withholding obligations or other obligations applicable to employers, if any, under Section 409A of the Code). 

Section 14.    Successors and Assigns; No Third-Party Beneficiaries. 

(a)    The Company. This Agreement shall inure to the benefit of the Company and its respective successors and
assigns. Except as expressly contemplated in the introductory clauses of this Agreement, neither this Agreement nor any of the rights, obligations, or interests arising hereunder may be assigned by the Company to a Person (other than another member
of the Company Group, or its or their respective successors) without Executive’s prior written consent (which shall not be unreasonably withheld, delayed, or conditioned); provided, however, that in the event of a sale of all or
substantially all of the assets of the Company or any direct or indirect division or subsidiary thereof to which Executive’s employment primarily relates, the Company may provide that this Agreement will be assigned to, and assumed by, the
acquiror of such assets, division or subsidiary, as applicable, without Executive’s consent. 

(b)    Executive. Executive’s rights and obligations under this Agreement shall not be transferable by
Executive by assignment or otherwise, without the prior written consent of the Company; provided, however, that if Executive shall die, all amounts then payable to Executive hereunder shall be paid in accordance with the terms of this
Agreement to Executive’s devisee, legatee, or other designee, or if there be no such designee, to Executive’s estate. 

(c)    No Third-Party Beneficiaries. Except as otherwise set forth in Section 7(c) or Section 14(b)
hereof, nothing expressed or referred to in this Agreement will be construed to give any Person other than the Company, the other members of the Company Group, and Executive any legal or equitable right, remedy, or claim under or with respect to
this Agreement or any provision of this Agreement. 
 Section 15.    Indemnity. 

Except as otherwise provided herein, the Company (and following the Closing, MP Materials) will, to the maximum extent permitted by law,
defend, indemnify and hold harmless Executive and Executive’s heirs, estate, executors and administrators against any costs, losses, claims, suits, proceedings, damages or liabilities to which Executive may become subject which arise out of,
are based upon or relate to Executive’s employment by the Company, including without limitation reimbursement for any legal or other expenses reasonably incurred by Executive in connection with the investigation of and defense against any such
claims, suits, or proceedings. Notwithstanding the foregoing, however, the Company’s obligation to defend, 

  
 -11- 

 
indemnify and hold harmless contained in this Section 15 shall not apply to claims between the Company and Executive (including Executive’s heirs, estate, executors and administrators)
including, without limitation, disputes arising out of the terms of this Agreement, nor shall it apply to any claims or suits successfully adjudicated on the merits against Executive based upon Executive’s willful misconduct or gross negligence
or Executive’s breach of any term of this Agreement (in which event Executive shall promptly return to the Company all legal and other expenses paid on Executive’s behalf). 

 

	 	Section	 16.    Clawbacks. 

The payments to Executive pursuant to this Agreement or otherwise are subject to forfeiture or recovery by the Company or other action pursuant
to any clawback or recoupment policy which the Company may adopt from time to time, including without limitation any such policy or provision that the Company has included in any of its existing compensation programs or plans or that it may be
required to adopt under the Dodd-Frank Wall Street Reform and Consumer Protection Act and implementing rules and regulations thereunder, or as otherwise required by law. 
  

	 	Section	 17.    Company Policies. 

Executive shall be subject to additional Company policies as they may exist from time-to-time, including policies with regard to stock ownership by senior executives and policies regarding trading of securities. 

Section 18.    Waiver and Amendments. 

Any waiver, alteration, amendment, or modification of any of the terms of this Agreement shall be valid only if made in writing and signed by
each of the parties hereto; provided, however, that any such waiver, alteration, amendment, or modification must be consented to on the Company’s behalf by the Board. No waiver by either of the parties hereto of their rights
hereunder shall be deemed to constitute a waiver with respect to any subsequent occurrences or transactions hereunder unless such waiver specifically states that it is to be construed as a continuing waiver. 

 

	 	Section	 19.    Severability. 

If any covenants or such other provisions of this Agreement are found to be invalid or unenforceable by a final determination of a court of
competent jurisdiction, (a) the remaining terms and provisions hereof shall be unimpaired, and (b) the invalid or unenforceable term or provision hereof shall be deemed replaced by a term or provision that is valid and enforceable and that
comes closest to expressing the intention of the invalid or unenforceable term or provision hereof. 
  

	 	Section	 20.    Governing Law; Dispute Resolution. 

(a)    Governing Law. THIS AGREEMENT IS GOVERNED BY AND IS TO BE CONSTRUED UNDER THE LAWS OF THE STATE OF NEVADA.

  
 -12- 

 (b)    Dispute Resolution. 

(i)    The parties agree that, except as provided in Section 9 above, any disputes under this
Agreement shall be settled exclusively by arbitration conducted in Las Vegas, Nevada. Except to the extent inconsistent with this Agreement, such arbitration shall be conducted in accordance with the National Rules for the Resolution of Employment
Disputes of the American Arbitration Association then in effect at the time of the arbitration and otherwise in accordance with principles which would be applied by a court of law or equity. The arbitrator shall be acceptable to both the Company and
Executive. If the parties cannot agree on an acceptable arbitrator, the dispute shall be decided by a panel of three arbitrators, one appointed by each of the parties and the third appointed by the other two arbitrators or if the two arbitrators do
not agree, appointed by the American Arbitration Association. Judgment upon the final award rendered by such arbitrator(s) may be entered in any court having jurisdiction thereof. 

(ii)    The costs of arbitration (including, without limitation, reasonable attorneys’ fees and other
reasonable charges of counsel) incurred by each party hereof; provided, however, that if Executive (or his beneficiaries) prevails on at least one material issue in the dispute, the Company shall pay or reimburse Executive for all such
costs. Following the final determination of the dispute in which, based on the outcome of the dispute, the Executive is, in accordance with this Section 20(b), entitled to have his costs borne by the Company, the Company shall pay all such
reasonable costs within ten (10) days following written demand therefor (supported by documentation of such costs) by Executive, and Executive shall make such written demand within sixty (60) days following the final determination of the
dispute; provided, however, that such payment shall be made no later than on or prior to the end of the calendar year following the calendar year in which the costs are incurred. 

 

	 	Section	 21.    Notices. 

(a)    Place of Delivery. Every notice or other communication relating to this Agreement shall be in writing, and
shall be mailed to or delivered to the party for whom or which it is intended at such address as may from time to time be designated by it in a notice mailed or delivered to the other party as herein provided; provided, however, that
unless and until some other address be so designated, all notices and communications by Executive to the Company shall be mailed or delivered to the Company at its principal executive office, and all notices and communications by the Company to
Executive may be given to Executive personally or may be mailed to Executive at Executive’s last known address, as reflected in the Company’s records. 

(b)    Date of Delivery. Any notice so addressed shall be deemed to be given (i) if delivered by hand, on the
date of such delivery, (ii) if mailed by courier or by overnight mail, on the first business day following the date of such mailing, and (iii) if mailed by registered or certified mail, on the third business day after the date of such
mailing. 

  
 -13- 

	 	Section	 22.    Section Headings. 

The headings of the sections and subsections of this Agreement are inserted for convenience only and shall not be deemed to constitute a part
thereof or affect the meaning or interpretation of this Agreement or of any term or provision hereof. 
  

	 	Section	 23.    Entire Agreement. 

This Agreement constitutes the entire understanding and agreement of the parties hereto regarding the employment of Executive. This Agreement
supersedes all prior negotiations, discussions, correspondence, communications, understandings, and agreements between the parties relating to the subject matter of this Agreement. 

 

	 	Section	 24.    Survival of Operative Sections. 

Upon any termination of Executive’s employment, the provisions of Section 7 through Section 23 of this Agreement (together with
any related definitions set forth on Appendix A) shall survive to the extent necessary to give effect to the provisions thereof. 
  

	 	Section	 25.    Counterparts. 

This Agreement may be executed in two or more counterparts, each of which shall be deemed to be an original but all of which together shall
constitute one and the same instrument. The execution of this Agreement may be by actual or electronic facsimile signature. 

*        *        * 

[Signatures to appear on the following page.] 

  
 -14- 

 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first above
written. 
  

	
	MP MINE OPERATIONS LLC
	
	 /s/ Michael Rosenthal

	 By: Michael Rosenthal
 Title:
Manager

	
	EXECUTIVE
	
	 /s/ James H. Litinsky

	James H. Litinsky

 APPENDIX A 

Definitions 

(a)    “Accrued Obligations” shall mean (i) all accrued but unpaid base salary through the date of
termination of Executive’s employment, (ii) any unpaid or unreimbursed expenses incurred in accordance with Section 6 hereof, and (iii) any benefits provided under the Company’s employee benefit plans upon a termination of
employment, including rights with respect to equity participation under any applicable equity incentive plan of the Company or any award agreement or other related document with respect to the grant of any award under such equity incentive plan.

 (b)     “Board” shall mean the Board of Directors of the Company. 

(c)    “Business” shall mean any business activities related to rare earth mining and processing, or any
other current or demonstrably planned material business activities of the Company Group. 
 (d)    “Business
Relation” shall mean any current or prospective client, customer, licensee, supplier, or other business relation of the Company Group, or any such relation that was a client, customer, licensee or other business relation within the prior
six (6) month period, in each case, with whom Executive transacted business or whose identity became known to Executive in connection with Executive’s employment hereunder. 

(e)    “Cause” shall mean (i) Executive’s material breach of this Agreement or any other
material policy of the Company, in each instance only after a written demand to cure such breach is delivered to Executive setting forth in reasonable detail the circumstances of such breach and Executive fails to cure such breach (if it reasonably
can be cured) within the thirty (30) day period following his receipt of such written notice; (ii) any material act of dishonesty, or any act of misappropriation, embezzlement, fraud or similar conduct involving the Company or any of its
affiliates; (iii) Executive’s continued willful failure or refusal to perform Executive’s material duties or responsibilities after a written demand to cure such failure or refusal is delivered to Executive setting forth in reasonable
detail the circumstances of such failure or refusal and Executive fails to cure such failure or refusal within the ten (10) day period following his receipt of such written notice; or (iv) Executive’s engagement in illegal conduct,
gross negligence or willful misconduct which is, or could be reasonably expected to be, materially and demonstrably injurious to the reputation or business of the Company. 

(f)    “Code” shall mean the Internal Revenue Code of 1986, as amended, and the rules and regulations
promulgated thereunder. 
 (g)    “Company Group” shall mean the Company together with any of its
direct or indirect subsidiaries. 
 (h)     “Compensation Committee” shall mean the compensation
committee of the Board. Prior to any time that such a committee has been designated, the Board shall be deemed the Compensation Committee for purposes of this Agreement. 

 (i)    “Confidential Information” means information
that the Company Group has or will develop, acquire, create, compile, discover, or own, that has value in or to the business of the Company Group that is not generally known and that the Company wishes to maintain as confidential. Confidential
Information includes, but is not limited to, any and all non-public information that relates to the actual or anticipated business and/or products, research, or development of the Company Group, or to the
Company Group’s technical data, trade secrets, or know-how, including, but not limited to, research, plans, or other information regarding the Company Group’s products or services and markets,
customer lists, and customers (including, but not limited to, customers of the Company on whom Executive called or with whom Executive may become acquainted during the Term of Employment), software, developments, inventions, processes, formulas,
technology, designs, drawings, engineering, hardware configuration information, marketing, finances, and other business information disclosed by the Company either directly or indirectly in writing, orally, or by drawings or inspection of premises,
parts, equipment, or other Company Group property. Notwithstanding the foregoing, Confidential Information shall not include any of the foregoing items (i) that have become publicly and widely known through no unauthorized disclosure by
Executive or others who were under confidentiality obligations as to the item or items involved, (ii) that have been independently developed without the use of or reference to Confidential Information or (iii) if such item has been
provided by a third party to Executive and is not known by Executive to be subject to any confidentiality restrictions. 

(j)    “Disability” shall mean any physical or mental disability or infirmity of Executive that prevents
the substantial performance of Executive’s duties notwithstanding reasonable accommodation for a period of (i) ninety (90) consecutive days or (ii) one hundred fifty
(150) non-consecutive days during any twelve (12) month period. Any question as to the existence, extent, or potentiality of Executive’s Disability upon which Executive and the Company cannot
agree shall be determined by a qualified, independent physician selected by the Company and approved by Executive. The determination of any such physician shall be final and conclusive for all purposes of this Agreement.  
 (k)    “Good Reason” shall mean, without
Executive’s written consent, (i) the failure of the Company to make any payment that it is required to make hereunder to Executive when such payment is due; (ii) the assignment to Executive of duties materially inconsistent with
Executive’s position and status with the Company, a change in Executive’s title, or a material reduction in Executive’s responsibilities; (iii) a reassignment of Executive’s primary work location outside of Las Vegas, Nevada
or (iv) the Company’s breach of any material provision of this Agreement. 
 (l)    “Interfering
Activities” shall mean (A) recruiting, encouraging, soliciting, or inducing, or in any manner attempting to recruit, encourage, solicit, or induce, any Person employed by, or providing consulting services to, any member of the Company
Group to terminate such Person’s employment or services (or in the case of a consultant, materially reducing such services) with the Company Group, (B) hiring any individual who was employed by the Company Group within the six
(6) month period prior to the date of such hiring, or (C) encouraging, soliciting, or inducing, or in any manner attempting to encourage, solicit, or induce, any Business Relation to cease doing business with or reduce the amount of
business conducted with the Company Group, or in any way interfering with the relationship between any such Business Relation and the Company Group; provided, that engaging in a general solicitation not specifically targeted at the foregoing
individuals shall not be Interfering Activities. 

  
 -2- 

 (m)    “Person” shall mean any individual, corporation,
partnership, limited liability company, joint venture, association, joint-stock company, trust (charitable or non-charitable), unincorporated organization, or other form
of business entity. 
 (n)    “Post-Termination Restricted Period” shall mean the period commencing on
the date of the termination of the Term of Employment for any reason and ending on the twelve (12) month anniversary of such date of termination. 

(o)    “Release of Claims” shall mean a general release of claims delivered to Executive by the Company
in connection with Executive’s termination of employment in a mutually acceptable form. 

(p)    “Severance Term” shall mean the period commencing on the date of Executive’s termination by
the Company without Cause (other than by reason of death or Disability) or by Executive with Good Reason and ending on the twelve (12) month anniversary of such date of termination. 

  
 -3-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00317-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00317-of-00352.parquet"}]]