Document:

Exhibit 10.3

  

  

    TRONOX HOLDINGS PLC AMENDED AND RESTATED ANNUAL PERFORMANCE BONUS PLAN

    
      

      

      1. PURPOSE. The purpose of the Tronox Holdings plc Annual
          Performance Bonus Plan is to attract, retain and motivate employees by providing bonus awards to designated Participants.

       

        

      2. DEFINITIONS. Unless the context otherwise requires, the words
          that follow shall have the following meanings:

    

    
      

      

      (a) “Award” shall mean a bonus award under the Plan.

    

    
      

      

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

       

        

      (c) “Code” shall mean the Internal Revenue Code of 1986,
          as amended, and any successor thereto.

       

        

      (d) “Committee” shall mean the Human Resources and
          Compensation Committee of the Board or such other committee of the Board that is appointed by the Board to administer the Plan. If no such committee has been appointed, the Board shall be the Committee.

       

        

      (e) “Common Stock” means the ordinary shares of the
          Company.

       

        

      (f) “Company” shall mean Tronox Holdings plc and any
          successor by merger, consolidation or otherwise.

       

        

      (g) “Participant” shall mean an employee of the Company or
          any subsidiary selected, in accordance with the terms of the Plan, to receive an Award in accordance with the Plan.

       

        

      (h) “Performance Goal” shall mean such performance
          objective or objectives applicable for Participants to receive payment of an Award under the Plan as selected by the Committee in its sole discretion; provided that
          with respect to Awards that are intended to be Section 162(m) Awards, such performance objective or objectives shall be selected by the Committee in its sole discretion from one of the performance goals set forth on Schedule A hereto.

       

        

      (i) “Performance Period” shall mean each fiscal year of
          the Company or such other period (as specified by the Committee) over which performance is to be measured.

       

        

      (j) “Plan” shall mean the Tronox Holdings plc Annual
          Performance Bonus Plan.

       

        

      (k) “Section 162(m)” shall mean Section 162(m) of the Code
          (or any successor section) and the Treasury regulations and other official guidance promulgated thereunder.

       

        

      (l) “Section 162(m) Award” shall mean any Award under the
          Plan that is intended to qualify for the “performance-based compensation” exception under Section 162(m).

       

        

      (m) “Section 409A” shall mean Section 409A of the Code and
          the Treasury regulations and other official guidance promulgated thereunder.

    

    
      

      

      3. ADMINISTRATION AND INTERPRETATION OF THE PLAN.

    

    
      

      

      (a) GENERAL. The Plan shall be administered
          by the Committee. The Committee shall have the exclusive authority and responsibility to make all determinations and take all other actions necessary or desirable for the Plan’s administration, including, without limitation, the power to: (i)
          select Participants; (ii) determine the amount of Awards granted to Participants under the Plan; (iii) determine the conditions and restrictions, if any, subject to which the payment of Awards will be made; (iv) certify that the conditions and
          restrictions applicable to the payment of any Award have been met; (v) interpret the Plan; and (vi) adopt, amend, or rescind such rules and regulations, and correct any defect, supply any omission and reconcile any inconsistency in the Plan in
          the

    

    
       

      

      manner and to the extent it shall deem necessary to carry out its responsibilities under the Plan. All decisions of the Committee on any question concerning
          the selection of Participants and the interpretation and administration of the Plan shall be final, conclusive and binding upon all parties. The Committee may rely on information, and consider recommendations provided by the Board or the
          executive officers of the Company.

    

    
      

      

      (b) PLAN EXPENSES. The expenses of the Plan
          shall be borne by the Company.

       

        

    

    
      
        

    

    
      (c) UNFUNDED ARRANGEMENT. The Company shall
          not be required to establish any special or separate fund or make any other segregation of assets to assume the payment of any Award under the Plan. The Plan shall be “unfunded” for all purposes and Awards hereunder shall be paid out of the
          general assets of the Company as and when the Awards are payable under the Plan. All Participants shall be solely unsecured general creditors of the Company. If the Company decides in its sole discretion to establish any advance accrued reserve
          on its books against the future expense of the Awards payable hereunder, or if the Company decides in its sole discretion to fund a trust from which Plan benefits may be paid from time to time, such reserve or trust shall not under any
          circumstance be deemed to be an asset of the Plan.

       

        

      (d) DELEGATION. The Committee may, in its
          discretion, delegate its authority and responsibility under the Plan unless prohibited by applicable law.

       

        

      (e) ACCOUNTS AND RECORDS. The Committee shall
          maintain such accounts and records regarding the fiscal and other transactions of the Plan and such other data as may be required to carry out its functions under the Plan and to comply with all applicable laws.

       

        

      (f) RETENTION OF PROFESSIONAL ASSISTANCE. The
          Committee may employ such legal counsel, accountants and other persons as may be required in carrying out its duties in connection with the Plan.

       

        

      (g) INDEMNIFICATION. In addition to such
          other rights of indemnification as they may have as members of the Board, the members of the Committee and the Board shall be indemnified by the Company against all costs and expenses reasonably incurred by them in connection with any action,
          suit or proceeding to which they or any of them may be party by reason of any action taken or failure to act under or in connection with the Plan or any right granted hereunder, and against all amounts paid by them in settlement thereof (provided that such settlement is approved by independent legal counsel selected by the Company) or paid by them in satisfaction of a judgment in any such action, suit or
          proceeding; provided that any such Board or Committee member shall be entitled to the indemnification rights set forth in this Section 3(g) only if such member has
          acted in good faith and in a manner that such member reasonably believed to be in or not opposed to the best interests of the Company and, with respect to any criminal action or proceeding, had no reasonable cause to believe that such conduct was
          unlawful; and provided, further, that upon the institution of any such action, suit or
          proceeding, a Board or Committee member shall give the Company written notice thereof and an opportunity, at its own expense, to handle and defend the same before such Board or Committee member undertakes to handle and defend it on such Board or
          Committee member’s own behalf.

    

    
      

      

      4. ELIGIBILITY AND PARTICIPATION. Participation in the Plan shall
          be limited to those employees of the Company or its subsidiaries selected by the Committee from time to time in its sole discretion, and no person shall be entitled to any Award for a Performance Period unless the individual is designated as a
          Participant for the Performance Period. The Committee may add to or delete individuals from the list of designated Participants at any time and from time to time, in its sole discretion. No Participant who is granted an Award under the Plan shall
          have any right to a grant of future Awards under the Plan. By accepting any payment under the Plan, each Participant and each person claiming under or through such Participant shall be conclusively deemed to have indicated such person’s
          acceptance and ratification of, and consent to, any action taken under the Plan by the Company or the Committee. Subject to the terms and conditions of the Plan, determinations made by the Committee under the Plan need not be uniform and may be
          made selectively among eligible employees under the Plan, whether or not such employees are similarly situated.

    

    
       

      

      5. GRANT OF AWARDS; PAYMENT OF AWARDS.

    

    
      

      

      (a) AWARDS. The Committee shall establish the
          terms and conditions applicable to any Award granted under the Plan and a Participant shall be eligible to receive an Award under the Plan in accordance with such terms and conditions. Without limiting the foregoing, the Committee may grant
          Awards subject to any or all of the following: (i) attainment of time-based vesting conditions; (ii) attainment of any Performance Goal established by the Committee with respect to any Performance Period; or (iii) the Committee’s evaluation of a
          Participant’s individual performance for the Company and/or its subsidiaries. The Committee may, in its sole discretion, amend or modify the terms and conditions applicable to an Award (provided that the consent of an affected Participant shall be required prior to any amendment or modification that adversely affects a Participant’s outstanding Awards) and may elect to pay all or any portion of an Award
          to a Participant regardless of whether any Award is payable in accordance with the terms and conditions originally established by the Committee, subject to the limitations of Section 6 hereof.

       

        

    

    
      
        

    

    
      (b) TIME OF PAYMENT. Unless otherwise
          determined by the Committee, Awards shall be paid in the calendar year following the year to which such Award relates at such time or times as determined by the Committee in its sole discretion. Notwithstanding the foregoing, the Committee may
          defer payment of all or any portion of any Awards with such conditions as the Committee may determine and may permit a Participant electively to defer receipt of all or a portion of an Award, in each case, taking into account the requirements of
          Section 409A.

       

        

      (c) FORM OF PAYMENT. In
          the sole discretion of the Committee, Awards may be paid in whole or in part in cash, Common Stock or other property, provided that any Common Stock to be
          awarded as part of an Award hereunder shall be issued pursuant to the terms and conditions of any shareholder-approved equity plan of the Company (if any) as in effect from time to time. To the extent that there is no shareholder-approved equity
          plan of the Company with an available share reserve to cover the issuance of Common Stock in connection with the payment of any Award hereunder, the full amount of the Award shall be paid in cash.

    

    
       

      

    

    
      
        
          (d) IMPACT OF TERMINATION OF EMPLOYMENT. Unless otherwise determined by the Committee
                in its sole discretion, the right to any payment in respect of an Award hereunder shall be subject to the Participant’s continued employment with the Company or its subsidiaries on the applicable date of payment of the Award.

        

      

    

    
      

      

      6. SECTION 162(m) COMPLIANCE. Notwithstanding any other provision
          of the Plan to the contrary, the provisions of this Section 6 shall apply to the extent that an Award under the Plan is intended to be a Section 162(m) Award.

    

    
      

      

      (a) GRANT TIMING. For
          purposes of any Award payable hereunder that is intended to be a Section 162(m) Award, the Committee shall make such determinations with respect to such Award and shall establish the objective performance criteria and the individual target Award
          (if any) applicable to each Participant or class of Participants in writing within ninety (90) days after the beginning of the applicable Performance Period (or such other time period as is required under Section 162(m)) and while the outcome of
          the Performance Goals is substantially uncertain. The applicable performance criteria shall be based on one or more of the Performance Goals set forth in Schedule A
          hereto.

    

    
       

      

    

    
      
        
          (b) OBJECTIVE CRITERIA.
              Subject to the limitations of the Plan, the Committee shall, in its sole discretion, have authority to determine the eligible Participants to whom, and the time or times at which, Section 162(m) Awards shall be made, the vesting and payment
              provisions applicable to such Awards, and all other terms and conditions of such Awards. As and to the extent required by Section 162(m), the terms of an Award that is a Section 162(M) Award must state, in terms of an objective formula or
              standard, the method of computing the amount of compensation payable under the Award, and must preclude discretion to increase the amount of compensation payable under the terms of the Award (but may allow the Committee discretion to decrease
              the amount of compensation payable).

        

      

    

    
      

      

    

    
      
        
          (c) OTHER TERMS.
              For each Participant, the Committee may specify a target Award. The individual target Award may be expressed, at the Committee’s discretion, as a fixed dollar amount, a percentage of base salary, or an amount determined pursuant to an
              objective formula or standard. Establishment of an individual target Award for a Participant for a Performance Period shall not imply or require that the same level individual target Award (if any such Award is established by the Committee
              for the relevant Participant) be set for any subsequent Performance Period. At the time the Performance Goals are established, the Committee shall prescribe a formula to determine the percentages (which may be greater than 100%) of the
              individual target Award, which may be payable based upon the degree of attainment of the Performance Goals during the Performance Period.

        

      

    

    
       

      

    

    
      
        
          (d) MEASUREMENT OF
                ACHIEVEMENT. The measurements used in Performance Goals set under the Plan shall be determined in accordance with generally accepted accounting principles,
                except, to the extent that any objective Performance Goals are used, if any measurements require deviation from generally accepted accounting principles, such deviation shall be at the discretion of the Committee at the time the Performance
                Goals are set or at such later time to the extent permitted under Section 162(m).

        

      

    

    
       

      

      
        
          

      

    

    
      
        
          (e) COMMITTEE
                CERTIFICATION. At the expiration of the applicable Performance Period, the Committee shall determine and certify in writing the extent to which the Performance
                Goals established pursuant to this Section 6 have been achieved and the percentage of the Participant’s individual target Award that has been vested and earned. Following the Committee’s determination and certification in accordance with
                the foregoing, the Section 162(m) Award shall become vested and payable in accordance with the terms and conditions of the Plan.

        

      

    

    
       

      

    

    
      
        
          (f) MAXIMUM AWARD. The maximum value of any payment under any Section 162(m) Award to any Participant in the Plan with respect to any twelve (12)-month period shall be $5,000,000.

        

      

    

    
      

      

      7. NON-ASSIGNABILITY. No Award or payment thereof nor any right or
          benefit under the Plan shall be subject to anticipation, alienation, sale, assignment, pledge, encumbrance, garnishment, execution or levy of any kind or charge, and any attempt to anticipate, alienate, sell, assign, pledge, encumber and to the
          extent permitted by applicable law, charge, garnish, execute upon or levy upon the same shall be void and shall not be recognized or given effect by the Company.

       

        

      8. SUCCESSORS. For purposes of the Plan, the Company shall include
          any and all successors or assignees, whether direct or indirect, by purchase, merger, consolidation or otherwise, to all or substantially all of the business or assets of the Company and such successors and assignees shall perform the Company’s
          obligations under the Plan, 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. In the event that the surviving corporation in any transaction to which the
          Company is a party is a subsidiary of another corporation, the ultimate parent corporation of such surviving corporation shall cause the surviving corporation to perform the obligations of the Company under the Plan in the same manner and to the
          same extent that the Company would be required to perform such obligations if no such succession or assignment had taken place. In such event, the term “Company,” as
          used in the Plan, shall mean the Company, as hereinbefore defined, and any successor or assignee (including the ultimate parent corporation) to the business or assets thereof which by reason hereof becomes bound by the terms and provisions of the
          Plan.

       

        

      9. NO RIGHT TO EMPLOYMENT. Nothing in the Plan or in any notice of
          an Award shall confer upon any person the right to continue in the employment of the Company or one of its subsidiaries or affect the right of the Company or any of its subsidiaries to terminate the employment of any Participant at any time or
          for any reason (or no reason).

       

        

      10. AMENDMENT OR TERMINATION. The Board reserves the right, subject
          to shareholder approval to the extent required by applicable law, regulation or exchange listing rules, to amend, suspend or terminate the Plan at any time, provided
          that no amendment, suspension or termination may adversely affect the rights of any

    

    
       

      

      Participant with regard to any outstanding Award. In no event may any such amendment, suspension or termination result in an increase in the amount of
          compensation payable pursuant to any Award under the Plan or the failure of any such Award to qualify for the “performance-based compensation” exception under Section 162(m) to the extent applicable.

    

    
      

      

      11. EFFECTIVE DATE AND TERM OF PLAN. The Board approved the Plan
          effective as of March 27, 2019, subject to shareholder approval for purposes of Awards intended to be Section 162(m) Awards. No Award under the Plan that is intended to be a Section 162(m) Award shall be granted on or after the fifth anniversary
          of the shareholder approval of the Plan unless the Performance Goals are re-approved (or other designated Performance Goals are approved) by the shareholders no later than the first shareholder meeting that occurs in the fifth year following the
          year in which shareholders approve the Performance Goals.

       

        

      12. SEVERABILITY. In the event that any one or more of the
          provisions contained in the Plan shall, for any reason, be held to be invalid, illegal or unenforceable, in any respect, such invalidity, illegality or unenforceability shall not affect any other provision of the Plan and the Plan shall be
          construed as if such invalid, illegal or unenforceable provisions had never been contained therein.

       

        

    

    
      
        

    

    
      13. WITHHOLDING. The Company shall have the right to make such
          provisions as it deems necessary or appropriate to satisfy any obligations it may have under applicable law to withhold federal, state or local income or other taxes incurred by reason of the payment of Awards under the Plan.

       

        

      14. GOVERNING LAW. The Plan and any amendments hereto shall be
          construed, administered, and governed in all respects in accordance with the laws of the State of Delaware (regardless of the law that might otherwise govern under applicable principles of conflict of laws).

       

        

      15. COMPANY RECOUPMENT OF AWARDS. All Awards shall be subject to
          any right or obligation that the Company may have regarding the clawback of “incentive-based compensation” under Section 10D of the Securities Exchange Act of 1934, as amended (as determined by the applicable rules and regulations promulgated
          thereunder from time to time by the U.S. Securities and Exchange Commission).

       

        

      16. SECTION 409A COMPLIANCE. The Plan is intended to either comply
          with, or be exempt from, the requirements of Section 409A. To the extent that the Plan is not exempt from the requirements of Section 409A, the Plan is intended to comply with the requirements of Section 409A and shall be limited, construed and
          interpreted in accordance with such intent. Accordingly, the Company reserves the right to amend the provisions of the Plan at any time and in any manner without the consent of Participants solely to comply with the requirements of Section 409A
          and to avoid the imposition of the additional tax, interest or income inclusion under Section 409A on any payment to be made hereunder while preserving, to the maximum extent possible, the intended economic result of the Award of any affected
          Participant. In no event whatsoever shall the Company be liable for any additional tax, interest, income inclusion or other penalty that may be imposed on a Participant by Section 409A or for damages for failing to comply with Section 409A.
          Notwithstanding any contrary provision in the Plan, to the extent that the payment of an Award is to be made as a result of a Participant’s “separation from service” (within the meaning of Section 409A) and such Participant is a “specified
          employee” (as defined under Section 409A) of the Company at the time of such “separation from service,” the payment of the Award shall be delayed for the first six (6) months following such “separation from service” (or, if earlier, the date of
          such Participant’s death) and shall instead be paid in the manner set forth for the applicable Award upon expiration of such delay period.

       

        

      17. TITLES AND HEADINGS. The headings and titles used in the Plan
          are for reference purposes only and shall not affect in any way the meaning or interpretation of the Plan.

    

    
       

      

    

    
      
        

    

    
      SCHEDULE A

    

    
      

      

      PERFORMANCE GOALS

    

    
      

      

      To the extent permitted under Section 162(m), performance goals established for purposes of Awards intended to be Section 162(m)
          Awards, shall be based on the attainment of certain target levels of, or a specified increase or decrease (as applicable) in one or more of the following performance goals (“Performance

              Goals”):

    

    
       

      

    

    
      
        	

              	•	
                earnings per share;

              

      

    

    
      

      

    

    
      
        	

              	•	
                operating income;

              

      

    

    
      

      

    

    
      
        	

              	•	
                gross income;

              

      

    

    
      

      

    

    
      
        	

              	•	
                net income (before or after taxes);

              

      

    

    
      

      

    

    
      
        	

              	•	
                cash flow;

              

      

    

    
      

      

    

    
      
        	

              	•	
                gross profit;

              

      

    

    
      

      

    

    
      
        	

              	•	
                gross profit return on investment;

              

      

    

    
      

      

    

    
      
        	

              	•	
                gross margin return on investment;

              

      

    

    
      

      

    

    
      
        	

              	•	
                gross margin;

              

      

    

    
      

      

    

    
      
        	

              	•	
                operating margin;

              

      

    

    
      

      

    

    
      
        	

              	•	
                working capital;

              

      

    

    
      

      

    

    
      
        	

              	•	
                earnings before interest and taxes;

              

      

    

    
      

      

    

    
      
        	

              	•	
                earnings before interest, tax, depreciation, and amortization;

              

      

    

    
      

      

    

    
      
        	

              	•	
                return on equity;

              

      

    

    
      

      

    

    
      
        	

              	•	
                return on assets;

              

      

    

    
      

      

    

    
      
        	

              	•	
                return on capital;

              

      

    

    
      

      

    

    
      
        	

              	•	
                return on invested capital;

              

      

    

    
      

      

    

    
      
        	

              	•	
                return on capital employed;

              

      

    

    
      

      

    

    
      
        	

              	•	
                net revenues;

              

      

    

    
      

      

    

    
      
        	

              	•	
                gross revenues;

              

      

    

    
      

      

    

    
      
        	

              	•	
                revenue growth;

              

      

    

    
      

      

    

    
      
        	

              	•	
                annual recurring revenues;

              

      

    

    
      

      

    

    
      
        	

              	•	
                recurring revenues;

              

      

    

    
      

      

    

    
      
        	

              	•	
                service revenues;

              

      

    

    
      

      

    

    
      
        	

              	•	
                license revenues;

              

      

    

    
      

      

    

    
      
        	

              	•	
                sales or market share;

              

      

    

    
      

      

    

    
      
        	

              	•	
                total shareholder return;

              

      

    

    
      

      

    

    
      
        	

              	•	
                economic value added;

              

      

    

    
       

      

    

    
      
        

    

    
      
        
          	

                	•	
                  specified objectives with regard to limiting the level of increase in all or a portion of the Company’s
                        bank debt or other long-term or short-term public or private debt or other similar financial obligations of the Company, which may be calculated net of cash balances and/or other offsets and adjustments as may be established by the
                        Committee in its sole discretion;

                

        

      

      
         

        

      

      
        
          	

                	•	
                  the fair market value of the a share of Common Stock;

                

           

          

        

      

      
        
          	

                	•	
                  the growth in the value of an investment in the Common Stock assuming the reinvestment of dividends; or,

                

           

          

        

      

      
        
          	

                	•	
                  reduction in operating expenses.

                

        

      

    

    
    
      

      

      To the extent permitted under Section 162(m), the Committee may, in its sole discretion, also exclude, or adjust to reflect, the impact
          of an event or occurrence that the Committee determines should be appropriately excluded or adjusted, including:

    

    
       

      

    

    
      
        	

              	(a)	
                restructurings, discontinued operations, extraordinary items or events, and other unusual or non-recurring
                      charges as described in Accounting Principles Board Opinion No. 30 and/or management’s discussion and analysis of financial condition and results of operations appearing or incorporated by reference in the Company’s Form 10-K for the
                      applicable year;

              

      

    

    
       

      

    

    
      
        	

              	(b)	
                an event either not directly related to the operations of the Company or not within reasonable control of the
                      Company’s management; or,

              

      

    

    
       

      

    

    
      
        	

              	(c)	
                a change in tax law or accounting standards required by generally accepted accounting principles.

              

      

    

    
      

      

      Performance Goals may also be based upon individual participant performance goals, as determined by the Committee, in its sole
          discretion.

       

        

      In addition, such Performance Goals may be based upon the attainment of specified levels of Company (or subsidiary, division, other
          operational unit or administrative department of the Company) performance under one or more of the measures described above relative to the performance of other corporations. To the extent permitted under Section 162(m), but only to the extent
          permitted under Section 162(m) (including, without limitation, compliance with any requirements for shareholder approval), the Committee may also:

    

    
       

      

    

    
      
        	

              	(a)	
                designate additional business criteria on which the performance goals may be based; or,

              

      

    

    
       

      

    

    
      
        	

              	(b)	
                adjust, modify or amend the aforementioned business criteria.Exhibit 10.4

      

       

      
        	DATED	

              	MARCH 2019

        

      

       
        

       

        

      FORM OF DEED OF INDEMNITY

       
        

       

        

      Between

       

      TRONOX HOLDINGS PLC

      

      

      and

       

      [DIRECTOR]

      

      

      
        

      CMS Cameron McKenna Nabarro Olswang LLP

       Cannon Place

       78 Cannon Street

       London EC4N 6AF

       T +44 20 7367 3000

       F  +44 20 7367 2000

       cms.law
        

      

      

      
        
          

      

      TABLE OF CONTENTS

       

      	
              1.

            	
              Interpretation

            	
              1

            
	
              2.

            	
              Indemnity

            	
              2

            
	
              3.

            	
              Conduct of claims

            	
              4

            
	
              4.

            	
              Company’s liability and Director’s remedies

            	
              5

            
	
              5.

            	
              Confidentiality

            	
              5

            
	
              6.

            	
              Notices

            	
              5

            
	
              7.

            	
              General

            	
              6

            

      

      

      
        
          

      

      
      THIS DEED OF INDEMNITY is made the      day of March 2019

       

      BETWEEN:

       

      
        
          	(1)	
                  TRONOX HOLDINGS PLC, registered in England and Wales (registered number
                      11653089), whose registered office is at 3rd Floor, 25 Bury Street, London SW1Y 2AL (the “Company”); and

                

        

      

       

      
        
          	(2)	
                  DIRECTOR of [RESIDENTIAL ADDRESS] (the “Director”).

                

        

      

       

      RECITALS:

       

      
        
          	(A)	
                  The Director is a director of the Company at the date of this Deed.

                

        

      

       

      
        
          	(B)	
                  Pursuant to article 147 of the Company’s articles of association, and subject to the Companies Act 2006, the Company is permitted to indemnify any of its directors
                      against certain liabilities.

                

        

      

       

      
        
          	(C)	
                  The Company has agreed to provide an indemnity to the Director on the terms and subject to the conditions of this Deed.

                

        

      

       

      NOW THIS DEED WITNESSES as follows:

       

      
        
          	1.	
                  INTERPRETATION

                

        

      

       

      
        
          	1.1	
                  In this Deed the expressions below have the meanings shown next to them:

                

        

      

       

      “Application” means an application made
          under sections 661(3), 661(4) or 1157 of the Companies Act 2006;

       

      “Associated Company” means in relation to
          the Company, any associated company (within the meaning of section 256 of the Companies Act 2006 but in addition as if the section defining subsidiary provided that its members are deemed to include any other body corporate whose rights in
          relation to it are held on behalf of that other body corporate or by way of security by another person but are treated for the purposes of that section as held by that other body corporate) from time to time;

       

      “Claim” means a claim by the Director
          under the indemnity contained in clause 2.1;

       

      “Connected Person” has the meaning given
          to it in section 252 of the Companies Act 2006;

       

      “D&O Insurance” means any directors
          and officers insurance policy;

       

      “Liabilities” means all losses, damages,
          liabilities, settlements, costs and expenses, including legal and other professional fees and any amount paid by the Director to any person in good faith, having reasonably determined such payment to be due to that person (whether it is or not),
          and any value added tax payable in relation to any such item; and

       

      “Third Party Claim” means any formal
          investigation against or implicating a Director; any claim made or proceeding commenced against a Director; or any Application made by a Director.

       

      
        
          	1.2	
                  In this Deed:

                

        

      

       

      
        
          	

                	1.2.1	
                  the headings and sub-headings are for convenience only and shall not affect the construction of this Deed;

                

        

      

       

      
        
          	

                	1.2.2	
                  unless the context otherwise requires, words denoting the singular shall include the plural and vice versa and references to any gender shall include all other genders.
                      References to any person (which for the purposes of this Deed shall include natural persons and bodies corporate) shall include the person’s successors including, in the case of the Director, his executors or administrators;

                

        

      

       

      
        1

        
          

      

      
        
          	

                	1.2.3	
                  “other”, “include” and “including”
                      do not connote limitation in any way;

                

        

      

       

      
        
          	

                	1.2.4	
                  references to clauses are to the clauses of this Deed (unless otherwise specified);

                

        

      

       

      
        
          	

                	1.2.5	
                  references to any statute, statutory provision or other legislation include a reference to that statute, statutory provision or legislation as amended, extended,
                      re-enacted, consolidated or replaced from time to time (whether before or after the date of this Deed) and include any order, regulation, instrument or other subordinate legislation made under the relevant statute, statutory provision
                      or legislation; and

                

        

      

       

      
        
          	

                	1.2.6	
                  any reference to “writing” or “written” includes faxes and any legible reproduction of words delivered in permanent and tangible form (but, subject to clause 6.1, does not include e-mail).

                

        

      

       

      
        
          	2.	
                  INDEMNITY

                

        

      

       

      
        
          	2.1	
                  Subject to the provisions of the Companies Act 2006 and this Deed, the Company shall indemnify the Director to the fullest extent permissible by law against all
                      Liabilities which the Director may incur arising out of or in connection with any Third Party Claim for any actual or alleged negligence,
                      default, breach of duty or breach of trust, in relation to the Company or any Associated Company.

                

        

      

       

      
        
          	2.2	
                  The indemnity contained in clause 2.1 shall not apply to any liability incurred by the Director:

                

        

      

       

      
        
          	

                	2.2.1	
                  to pay a fine imposed in criminal proceedings or a sum payable to a regulatory authority by way of a penalty in respect of non-compliance with any requirement of a
                      regulatory nature (however arising);

                

        

      

       

      
        
          	

                	2.2.2	
                  in defending any criminal proceedings in which he is convicted of a criminal offence; or

                

        

      

       

      
        
          	

                	2.2.3	
                  in relation to a body corporate that is or was an Associated Company to the extent that the act or omission giving rise to the liability was carried out at a time when
                      that body corporate was not yet or had ceased to be an Associated Company.

                

        

      

       

      
        
          	2.3	
                  The indemnity contained in clause 2.1 shall not apply to any liability incurred by the Director:

                

        

      

       

      
        
          	

                	2.3.1	
                  to the Company or to any Associated Company;

                

        

      

       

      
        
          	

                	2.3.2	
                  in defending any civil proceedings brought by or on behalf of the Company or an Associated Company in which judgment is given against him;

                

        

      

       

      
        
          	

                	2.3.3	
                  in connection with any Application in which the court refuses to grant him relief; or

                

        

      

       

      
        
          	

                	2.3.4	
                  in connection with any proceedings for disqualification of the Director in which the Director is disqualified or in relation to which the Director gives a
                      disqualification undertaking,

                

        

      

       

      except to the extent that the indemnity relates to an Associated Company that is a trustee of an occupational pension scheme (as
          defined in section 235 of the Companies Act 2006) and to liabilities incurred in connection with that company’s activities as trustee of the scheme.

       

      
        
          	2.4	
                  References in clauses 2.2 and 2.3 to a conviction, judgment or refusal of relief are to the final decision in the proceedings, as defined in section 234 or (where
                      relevant) section 235 of the Companies Act 2006.

                

        

      

       

      
        2

        
          

      

      
        
          	2.5	
                  Furthermore, the indemnity in clause 2.1 shall not apply:

                

        

      

       

      
        
          	

                	2.5.1	
                  to the extent that it is not permitted by, or consistent with, law or statute from time to time in force, or the rules and regulations of any regulatory body;

                

        

      

       

      
        
          	

                	2.5.2	
                  where there has been fraud or wilful default by the Director; nor

                

        

      

       

      
        
          	

                	2.5.3	
                  where the Director or a person connected with the Director has improperly derived a personal benefit or profit, whether directly or indirectly, from the matter in respect
                      of which a liability arises.

                

        

      

       

      
        
          	2.6	
                  The Company shall not be liable for any Claim to the extent that the Director has already recovered any amount in respect of the Liabilities concerned from a third party,
                      whether by payment, credit, discount, relief, pursuant to a claim under insurance (including such D&O Insurance as may be in force from time to time in relation to the Company and/or any Associated Company), under any other
                      indemnity or otherwise, and where the Director makes any such recovery after the Company has made any payment to him in respect of the Claim he shall promptly pay the Company an amount equal to so much of the amount recovered as does
                      not exceed the total amount paid by the Company in respect of the Claim (as reduced by the total amount, if any, previously paid to the Company pursuant to this clause in respect of the Claim).

                

        

      

       

      
        
          	2.7	
                  The Company and the Director acknowledge and agree that the Director may have already suffered or incurred Liabilities arising out of or in connection with any
                      negligence, default, breach of duty or breach of trust by the Director in relation to the Company or any Associated Company.  The Director warrants that he is not aware of any existing Liabilities and that he is not aware of any
                      circumstances that may give rise to any Liabilities.

                

        

      

       

      
        
          	2.8	
                  The Company undertakes and agrees to provide and maintain in force D&O Insurance for the benefit of the Director providing a level of cover in respect of its scope
                      and amount that its insurance broker advises is reasonable. The Director agrees to comply at all times with his obligations under and in respect of the D&O Insurance, including obligations of disclosure and in respect of
                      statements made in connection with the obtaining of D&O Insurance, and with the terms and conditions of such D&O Insurance as may be in force from time to time, including compliance with conditions relating to the notification
                      and conduct of claims and incurring of legal costs. The Company shall not be liable for any Claim to the extent that the Director’s failure so to comply directly or indirectly results, or may result, in indemnity for that Director
                      being declined under such D&O Insurance.

                

        

      

       

      
        
          	2.9	
                  Except as otherwise expressly provided in this Deed, all payments to be made under this Deed shall be made in full without any set-off or counterclaim and free from any
                      deduction or withholding except as may be required by law (in which event such deduction or withholding shall not exceed the minimum amount required by law and the Company will simultaneously pay to the Director whatever additional
                      amount is required for the net amount received to equal what would have been received if no such deduction or withholding had been required).

                

        

      

       

      
        
          	2.10	
                  If the Company makes any payment under this Deed, subject to the terms of any D&O Insurance in force at the relevant time, it shall be subrogated to the extent of
                      such payment to any right the Director may have for recovery of the amounts so paid from any third party. The Director agrees to execute all documents required and do all other acts necessary to effect the foregoing provisions and
                      permit the Company to enforce the rights so subrogated.

                

        

      

       

      
        3

        
          

      

      
        
          	2.11	
                  The indemnity contained in clause 2.1 is without prejudice to any other indemnity or compensation to which the Director may otherwise be entitled from the Company or any
                      Associated Company.

                

        

      

       

      
        
          	2.12	
                  Except in the case of the Director’s disqualification, or dismissal for gross misconduct, the

                      Director’s rights and obligations under this Deed shall remain in full force and effect notwithstanding his ceasing, for any reason, to be a director of the Company for a period of six years from the date on which he ceased to be a
                      Director.

                

        

      

       

      
        
          	3.	
                  CONDUCT OF CLAIMS

                

        

      

       

      
        
          	3.1	
                  The Company shall advance costs and expenses to the Director on an as incurred basis prior to the adjudication of any Third Party Claim that is the subject of a Claim
                      under this Deed.

                

        

      

       

      
        
          	3.2	
                  Except to the extent that it would be inconsistent with the Director’s due compliance with clause 2.8, the Director shall be obliged to take reasonable action to mitigate
                      any Liabilities which he may suffer or incur in consequence of any matter giving rise to a Claim, including taking all reasonable steps to make recovery (including by payment, credit, discount, relief or otherwise) from any third
                      party (including any in respect of whom there may be a right of recovery which is referable to the matter giving rise to the Claim).

                

        

      

       

      
        
          	3.3	
                  Except to the extent that it would be inconsistent with the Director’s due compliance with clause 2.8, the Company shall (if it so requires) be allowed to have the
                      conduct of any negotiations, proceedings or appeals incidental to any matter which may give rise to a Claim provided that the Company shall not admit liability in respect of or compromise or settle any such matter without first
                      obtaining the prior written consent of the Director making the Claim.. Accordingly the Director shall:

                

        

      

       

      
        
          	

                	3.3.1	
                  give to the Company by written notice details immediately on becoming aware of them of any circumstances which will or may give rise to a Claim, and consult with the
                      Company in respect of, and keep the Company fully and promptly informed of all material developments relating to, such circumstances and the Claim;

                

        

      

       

      
        
          	

                	3.3.2	
                  at all reasonable times allow the Company and its agents to inspect and take copies of all necessary books, correspondence and records of the Director (subject always to
                      keeping them confidential except to the extent that their disclosure is necessary in connection with the proper exercise of the Company’s rights under this clause); and

                

        

      

       

      
        
          	

                	3.3.3	
                  use professional advisers nominated by the Company and, if so requested by the Company, take all reasonable steps or proceedings as the Company may consider necessary in
                      order to mitigate, avoid, resist, appeal, dispute, contest, remedy, compromise or defend any of the relevant Liabilities, but not without the Company’s prior written consent admit liability in respect of, compromise or settle any such
                      Liabilities.

                

        

      

       

      
        
          	3.4	
                  The provisions of clause 3.3 shall:

                

        

      

       

      
        
          	

                	3.4.1	
                  not apply to any matter arising out of or in connection with any dispute between the Director and the Company (or any Associated Company); and

                

        

      

       

      
        
          	

                	3.4.2	
                  cease to apply with immediate effect to any matter arising out of or in connection with any dispute between the Director and a third party if the Company (or any
                      Associated Company) becomes aware that it has or may have a related dispute with the Director.

                

        

      

       

      
        4

        
          

      

      
        
          	3.5	
                  If the Director fails to comply with his obligations under clauses 3.2 and 3.3 in any material respect then the Director’s right under clause 2 to be indemnified in
                      respect of the relevant Claim shall be limited to the amount to which he would have been entitled in the absence of such failure.

                

        

      

       

      
        
          	3.6	
                  Nothing in this Deed shall prevent the Director from exercising his right to resign as a director of the Company.

                

        

      

       

      
        
          	4.	
                  COMPANY’S LIABILITY AND DIRECTOR’S REMEDIES

                

        

      

       

      
        
          	4.1	
                  If the Company denies it is liable to the Director in respect of any Claim under this Deed it will advance payment of all costs and expenses and legal and professional
                      fees on a current basis as they are incurred by the Director.  In the event it is determined that the Company is not liable to the Director for such amounts then the Director shall immediately repay them to the Company,

                

        

      

       

      
        
          	4.2	
                  The Director agrees that he will not, except as required by law, take any steps or legal proceedings for the winding-up, dissolution, administration or re-organisation
                      of, or for the appointment of a receiver, liquidator, administrator or similar officer to, the Company for the purpose of obtaining payment of any amounts payable to him under this Deed by the Company.

                

        

      

       

      
        
          	5.	
                  CONFIDENTIALITY

                

        

      

       

      
        
          	5.1	
                  The Director and the Company shall keep confidential the existence and terms of this Deed and all information received or obtained as a result of entering into or
                      performing obligations under, or supplied by or on behalf of any person in the negotiations leading to, this Deed and shall use such information solely for the purpose of performing his or its obligations under this Deed.

                

        

      

       

      
        
          	5.2	
                  The prohibition in clause 5.1 shall not apply to the extent that:

                

        

      

       

      
        
          	

                	5.2.1	
                  disclosure is required in order to comply with any applicable requirement of law (in particular, sections 236 to 238 of the Companies Act 2006), the Securities and
                      Exchange Commission or the New York Stock Exchange or of any person who has regulatory authority which has the force of law; or

                

        

      

       

      
        
          	

                	5.2.2	
                  disclosure is to be made to a director or a potential new director of the Company who wishes to enter into a similar deed of indemnity to this Deed; or

                

        

      

       

      
        
          	

                	5.2.3	
                  disclosure is to be made to the Director’s professional advisers, the Company’s insurance brokers (current or prospective), the Company’s insurers (current or
                      prospective) or the professional advisers of the Company’s insurers.

                

        

      

       

      
        
          	6.	
                  NOTICES

                

        

      

       

      
        
          	6.1	
                  Any notice required to be given under this Agreement may, by prior agreement between the Director and the Company, be given by e-mail.  In the absence of such agreement,
                      any notice required to be given under this Agreement shall be in writing and be delivered by hand or sent by pre-paid first-class post or recorded delivery (or airmail if overseas) or by commercial courier, to the other Party.

                

        

      

       

      
        
          	6.2	
                  Notices shall be sent to the address of the relevant person set out in this Deed (provided that either party may, by written notice to the other, substitute another
                      address for the service of notices on him or it under this Deed).

                

        

      

       

      
        
          	6.3	
                  Any notice is served and is deemed to have been duly received:

                

        

      

       

      
        
          	

                	6.3.1	
                  if delivered by hand, on the date and at the time when left at the address referred to above and addressed as referred to above;

                

        

      

       

      
        5

        
          

      

      
        
          	

                	6.3.2	
                  if sent by pre-paid first-class post or recorded delivery and addressed as referred to above, on the second business day after posting;

                

        

      

       

      
        
          	

                	6.3.3	
                  if sent by airmail, six days after posting; or

                

        

      

       

      
        
          	

                	6.3.4	
                  if delivered by commercial courier and addressed as referred to above, on the date and at the time when the courier’s delivery receipt is signed.

                

        

      

       

      
        
          	7.	
                  GENERAL

                

        

      

       

      
        
          	7.1	
                  The Director irrevocably appoints the Company as his attorney on behalf of and in the name of the Director (or in the attorney’s own name), but at the cost of the
                      Company, to execute any document and do anything that the Director is obliged to do under this Deed or that the attorney reasonably considers to be necessary or desirable in exercise of any of the powers and authorities given to it
                      under this Deed.

                

        

      

       

      
        
          	7.2	
                  On the expiry of all relevant limitation periods for bringing a claim against the Director in connection with any negligence, default, breach of duty or breach of trust
                      by the Director, the Company’s obligations under this Deed in respect of the Director shall cease (except to the extent that any such claim has been made within the relevant limitation period and is otherwise valid).

                

        

      

       

      
        
          	7.3	
                  Any waiver of any right, power or remedy under this Deed must be in writing and may be given subject to any conditions thought fit by the Company. No waiver will take
                      effect if the person seeking the waiver has failed to disclose every material fact or circumstance which (so far as the person seeking the waiver is aware) has a bearing on its subject matter. Unless otherwise expressly stated, any
                      waiver shall be effective only in the instance and only for the purpose for which it is given.

                

        

      

       

      
        
          	7.4	
                  No variation to this Deed shall be of any effect unless it is agreed in writing and signed by or on behalf of the Company and the Director.

                

        

      

       

      
        
          	7.5	
                  Each of the provisions of this Deed is severable. If any such provision is or becomes illegal, invalid or unenforceable in any respect under the law of any jurisdiction
                      that shall not affect or impair the legality, validity or enforceability in that jurisdiction of the other provisions of this Deed, or of that or any provision of this Deed in any other jurisdiction.

                

        

      

       

      
        
          	7.6	
                  This Deed may be executed in any number of counterparts and by the parties on different counterparts. Each counterpart shall constitute an original of this Deed but all
                      the counterparts shall together constitute one and the same Deed.

                

        

      

       

      
        
          	7.7	
                  To the extent that any provision of this Deed is a provision referred to in section 232(2) of the Companies Act 2006, nothing contained in this Deed shall operate to
                      prevent such provision from being a qualifying third party indemnity provision for the purposes of section 234 of the Companies Act 2006 and a qualifying pension scheme indemnity provision for the purposes of section 235 of the
                      Companies Act 2006.

                

        

      

       

      
        
          	7.8	
                  Neither the Company nor the Director may assign, transfer, charge or deal in any way with the benefit of, or any of its rights under or interest in, this Deed without the
                      prior written consent of, in the case of the Company, the Director or, in the case of the Director, the Company.

                

        

      

       

      
        
          	7.9	
                  Nothing in this Deed is intended to confer on any person any right to enforce any term of this Deed which that person would not have had but for the Contracts (Rights of
                      Third Parties) Act 1999.

                

        

      

       

      
        6

        
          

      

      
        
          	7.10	
                  This Deed, and any non-contractual rights or obligations arising out of or in connection with it or its
                        subject matter, shall be governed by and construed in accordance with English law and the Company and the Director irrevocably agree that the courts of England
                        and Wales shall have exclusive jurisdiction to settle any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with this Deed or its subject matter or formation.

                

        

      

       

      IN WITNESS of which the parties have executed and delivered
          this Deed on the day and year first above written.

       

      
        7

        
          

      

      	
              Executed as a deed by

            	
              )

            
	
              TRONOX HOLDINGS PLC

            	
              )

            	 
	
              on being signed by:

            	
              )

            	

            	 
	 	)	
              Director

            
	
              

              

            	 	
              )

            	
              

              

            
	
              in the presence of:

            	
              )

            	 

      

      

      	
              Signature of witness:

            	

            	 
	
              Name:

            	 
	
              Address:

            	 
	
              Occupation:

            	 

      

      

      	
              Signed as a deed by

            	
              )

            	 
	
              DIRECTOR NAME

            	
              )

            	 
	
              in the presence of:

            	
              )

            	
              

              

            	 
	 

      

      

      	
              Signature of witness:

            	
              

              

            	 
	
              Name:

            	 
	
              Address:

            	 
	
              Occupation:

            	 

      

      

      

      

      8

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