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Exhibit 10.2

FMC CORPORATION  
COMPENSATION POLICY FOR NON-EMPLOYEE DIRECTORS
(AS AMENDED AND RESTATED EFFECTIVE APRIL 27, 2021)
PART I GENERAL PROVISIONS

1.Purpose.  The purpose of this Policy is to provide a compensation program to attract and retain qualified individuals not employed by the Company or its Affiliates to serve on the Board and to further align the interests of those directors with those of stockholders by providing that a substantial portion of compensation will be linked directly to increases in stockholder value.

2.Definitions.  Except as otherwise defined herein, terms used herein in capitalized form will have the meanings attributed to them as set forth below or in the Stock Plan.

(a)    “Annual Retainer” means the retainer fee established by the Board and paid to a director for services on the Board for a year in accordance with Section 1 of Part II of this Policy.

(b)    “Audit Committee Fee” means the annual fee established by the Board and paid to a director for service as a member of the Audit Committee of the Board in accordance with Section 5 of Part II of this Policy.

(c)    “Board” means the Board of Directors of the Company.

(d)    “Change in Control” has the meaning set forth in the Stock Plan; provided that, solely for vesting purposes, in no event will a Change in Control be deemed to have occurred with respect to the Participant if the Participant is part of a purchasing Person which consummates the Change in Control.  The Participant will be deemed to be “part of a purchasing Person” for purposes of the preceding sentence if the Participant is an equity participant in the purchasing Person (except for: (i) passive ownership of less than 3% of the stock of the purchasing Person; or (ii) ownership of equity participation in the purchasing company or Person which is otherwise not significant, as determined prior to the Change in Control by a majority of the non-employee continuing directors of the Board).  

In addition, solely for purposes of Section 5(a) of Part III of this Policy, no event or transaction will constitute a Change in Control unless that event or transaction also constitutes a “change in ownership” of the Company, a “change in effective control” of the Company or a “change in the ownership of a substantial portion of the assets” of the Company, as those terms are used in Section 409A(a)(2)(v) of the Code and defined in regulations issued thereunder.

(e)    “Committee Chairman Fee” means the annual fee established by the Board and paid to a director for service as chairman of any committee of the Board in accordance with Section 4 of Part II of this Policy.

(f)    “Company” means FMC Corporation, a Delaware corporation.

Exhibit 10.2

(g)    “Lead Director Fee” means the annual fee established by the Board and paid to a director for service as the Lead Director of the Board in accordance with Section 2 of Part II of this Policy.

(h)    “Non-Employee Director” means a member of the Board who is not an employee of the Company or any of its Affiliates, as determined in the discretion of the Board.

(i)    “Non-Executive Chairman Fee” means the annual fee established by the Board and paid to a director for service as the Non-Executive Chairman of the Board in accordance with Section 3 of Part II of this Policy. 

(j)     “Participant” means a Non-Employee Director who is eligible to participate in this Policy.

(k)    “Policy” means this FMC Corporation Compensation Policy for Non-Employee Directors, as may be amended from time to time.

(l)    “RSU” means a Restricted Stock Unit within the meaning of the Stock Plan.

(m)    “Separation from Service” means a “Separation from Service” as that term is used in Section 409A(a)(2)(i) of the Code and defined in regulations issued thereunder.

(n)    “Service” means the Participant’s service to the Company or any of its Affiliates, solely during the period of such affiliation.

(o)    “Stock Plan” means the FMC Corporation Incentive Compensation and Stock Plan, as may be amended from time to time.

PART II COMPENSATION

1.Annual Retainer.

(a)    Each Participant will be entitled to receive an Annual Retainer in such amount as will be determined from time to time by the Board.  Until changed by resolution of the Board, the Annual Retainer will be $100,000, which will be payable in cash in equal installments at the end of each calendar year quarter.

(b)    Notwithstanding the foregoing, no later than the last day of any calendar year, a Participant may elect that all (or a portion, to the extent permitted by the Company) of the Annual Retainer payable in the following calendar year be paid in the form of RSUs, as set forth in Section 1 of Part III, by providing written notice of such election to the Company in the form and manner prescribed by the Company.  Any such election will be effective on the first day of the next calendar year beginning after the date of such election.

(c)    Notwithstanding anything to the contrary in Section 1(b), a Participant who is newly elected or appointed to the Board may elect within 30 days after joining the Board, by written notice to the Company in the form and manner prescribed by the Company, to receive all 

Exhibit 10.2

(or a portion, to the extent permitted by the Company) of the Annual Retainer that is payable to such Participant with respect to the remainder of the first calendar year of his or her service in the form of RSUs (as set forth in Section 1 of Part III).

2.    Lead Director Fee.  The Participant who serves as the Lead Director of the Board will be entitled to receive a Lead Director Fee in such amount as will be determined from time to time by the Board, in addition to (and not in lieu of) any other compensation to which such Participant may be entitled pursuant to any other provision of this Policy.  Until changed by resolution of the Board, the Lead Director Fee will be $30,000, which will be paid in cash in equal installments at the end of each calendar year quarter.

3.    Non-Executive Chairman Fee.  The Participant who serves as the Non-Executive Chairman of the Board will be entitled to receive a Non-Executive Chairman Fee in such amount as will be determined from time to time by the Board, in addition to (and not in lieu of) any other compensation to which such Participant may be entitled pursuant to any other provision of this Policy.  Until changed by resolution of the Board, the Non-Executive Chairman Fee will be $150,000, which will be paid in cash in equal installments at the end of each calendar year quarter.

4.     Committee Chairman Fees.  Each Participant who serves as a chairman of a committee of the Board will be entitled to receive a Committee Chairman Fee in such amount as will be determined from time to time by the Board, for the tenure of such service, in addition to (and not in lieu of) any other compensation to which such Participant may be entitled pursuant to any other provision of this Policy. Until changed by resolution of the Board, the Committee Chairman Fees for each committee of the Board will be paid in cash at the annualized rates set forth in the table below in equal installments at the end of each calendar year quarter.

						
	Audit Committee Chairman Fee	$20,000
	Compensation & Organization Committee Chairman Fee	$15,000
	Nominating & Corporate Governance Committee Chairman Fee	$15,000
	Sustainability Committee Chairman Fee	$15,000

5.    Audit Committee Fee.  Each Participant who serves as a member of the Audit Committee of the Board, including the Audit Committee Chairman, will be entitled to receive additional fees in respect of such service in such amount as will be determined from time to time by the Board, in addition to (and not in lieu of) any other compensation to which such Participant may be entitled pursuant to any other provision of this Policy.  Until changed by resolution of the Board, this additional Audit Committee fee will be paid in cash at an annualized rate of $5,000 in equal installments at the end of each calendar year quarter.

6.    In the event that a Participant ceases to serve as a member of the Audit Committee, a Committee Chairman, Lead Director, or a member of the Board, in each case prior to the end of a calendar year quarter, cash fees that would otherwise have been payable to the Participant under Part II of this Policy with respect to such service shall be pro-rated based upon his or her partial service during the calendar year quarter. Notwithstanding the foregoing, in the event that the Participant’s 

Exhibit 10.2

cessation of service as a member of the Board was due to the Participant’s death or Disability, any amounts for that year not yet paid in respect of Section 1(a) of Part II of this Policy shall then be paid in full, and shall not be subject to pro-ration.

PART III STOCK COMPENSATION

1.Retainer Grant.

(a)    In the event a Participant has made an election pursuant to Section 1(b) or 1(c) of Part II in respect of his or her Annual Retainer for the next calendar year, then effective as of the next annual meeting of the Company’s stockholders, such Participant will receive a number of RSUs determined by dividing (i) the portion of the Participant’s Annual Retainer payable in that calendar year with respect to which the Participant has made an election in accordance with Section 1(b) or 1(c) of Part II by (ii) the Fair Market Value of a share of Common Stock on the date of grant.  RSUs granted under this Section 1 of Part III are hereinafter referred to as “Retainer Units.”  Retainer Units will be granted pursuant to, and subject to the terms of, the Stock Plan.

(b)    Subject to the Participant’s continued Service, Retainer Units will vest ratably on a daily basis over a one (1) year period commencing on the date of grant, provided that any unvested Retainer Units will vest upon a Change in Control.  Upon the Participant’s Separation from Service, any Retainer Units that have not become vested prior to the Separation from Service will be automatically forfeited and the Participant will have no further rights with respect thereto. Notwithstanding the foregoing, in the event of the Participant’s Separation from Service due to his or her death or Disability, any unvested Retainer Units will vest as of the Participant’s Separation from Service. 

2.    Annual Equity Grant.  

(a)    Effective as of the annual meeting of the Company’s stockholders, each Participant will be granted a number of RSUs determined by dividing $140,000 by the Fair Market Value of a share of Common Stock on the date of grant.  RSUs granted under this Section 2 are hereinafter referred to as “Annual Units.”  Annual Units will be granted pursuant to, and subject to the terms of, the Stock Plan.

(b)    Annual Units will vest in full on the earliest of (i) the first anniversary of the date of grant, (ii) a Change in Control, and (iii) the Participant’s Separation from Service as a result of his or her death or Disability; provided in each case that the Participant has remained in Service through the applicable time. Any portion of a Participant’s Annual Units that have not vested on 

Exhibit 10.2

or prior to his or her Separation from Service will then be forfeited and all rights of the Participant to or with respect to such Annual Units will then automatically terminate.

3.    Dividend Equivalent Rights. If a cash dividend or distribution is paid with respect to outstanding shares of Common Stock, then effective as of the dividend or distribution payment date, each outstanding award of Retainer Units and Annual Units (including any additional Retainer Units and Annual Units previously credited pursuant to this Section 3) will be increased by a number of additional Retainer Units or Annual Units, as applicable, equal to the quotient of (i) the total dividend or distribution that would then be payable with respect to a number of shares of Common Stock equal to the number of Retainer Units or Annual Units, as applicable, held by the Participant on the dividend or distribution record date divided by (ii) the Fair Market Value of a share of Common Stock on the dividend or distribution record date (the “Dividend Equivalent Rights”). The Dividend Equivalent Rights will be subject to the same vesting conditions as the Retainer Units or Annual Units to which they relate. 

4.    Fractional Units.  All RSUs, as well as Dividend Equivalent Rights credited with respect to such RSUs, will be credited in whole units, with any fractional unit being rounded up to the nearest whole number.

5.    Form and Time of Payment.

(a)    Payments with respect to vested RSUs will be made upon the earlier of (i) the Participant’s Separation from Service, (ii) a Change in Control, (iii) such other date (if any) elected by the Participant in a form and manner specified by the Company, or (iv) upon the Company’s termination of the plan including such RSUs in accordance with Treas. Reg. § 1.409A-3(j)(4)(ix). 

(b)    Payments will be made in shares of Common Stock, unless otherwise determined by the Compensation and Organization Committee in accordance with the terms of the Stock Plan.

(c)    Notwithstanding any other provision in this Policy, to the extent compliance with the requirements of Treas. Reg. § 1.409A-3(i)(2) is necessary to avoid the application of an additional tax under Section 409A of the Code,  shares of Common Stock that are otherwise issuable upon the Participant’s Separation from Service will be deferred (without interest) and issued to the Participant immediately following the six month delay period.

6.    Rights.  Except to the extent otherwise set forth herein, a Participant will not have any of the rights of a stockholder with respect to the RSUs unless and until such time as shares of Common Stock have been issued to the Participant in settlement of the vested RSUs. 

PART IV ADDITIONAL PROVISIONS

1.    Administration.  The Board administers the Policy. The Board has full power to interpret the Policy, formulate additional details and regulations for carrying out the Policy and amend or terminate the Policy as from time to time it deems proper and in the best interest of the Company. Any decision or interpretation of the Board is final and conclusive.

Exhibit 10.2

2.    Statement of Account.  Each Participant will receive an annual statement showing the number and status of and essential terms applicable to RSUs that have been awarded to the Participant.

3.    Unsegregated Funds.  The Company will not segregate any funds or securities in respect of the Participant’s interests under this Policy, and the Participant’s Service is the Participant’s acknowledgement and agreement that any interests of the Participant remain a part of the Company’s general funds and are subject to the claims of the Company’s general creditors.  Nothing in this Policy will be construed as creating any trust, express or implied, for the benefit of any Participant.

4.    Awards Issued Pursuant to the Policy.  All equity-based awards described herein  will be granted under, and subject to the terms of, the Stock Plan (or any successor plan thereto) and the applicable Notice thereunder. In the event of a conflict between any term or provision contained in this Policy on the one hand, and the Stock Plan (or any successor plan thereto) and the applicable Notice on the other hand, the applicable terms and provisions of the Stock Plan (or any successor thereto) and the Notice will govern.

5.    Payments Upon Death.  In the event of the Participant’s death, payments under this Policy will be made to the beneficiary designated by the Participant to receive such payments or, in the absence of a duly executed and filed beneficiary designation form, to the Participant’s estate.

6.    Payment of Certain Costs of the Participant. If a dispute arises regarding the interpretation or enforcement of this Policy and the Participant (or in the event of his or her death, his beneficiary) obtains a final judgment in his or her favor from a court of competent jurisdiction from which no appeal may be taken, whether because the time to do so has expired or otherwise, or his or her claim is settled by the Company prior to the rendering of such a judgment, all reasonable legal and other professional fees and expenses incurred by the Participant in contesting or disputing any such claim or in seeking to obtain or enforce any right or benefit provided for in this Policy or in otherwise pursuing his or her claim will be promptly paid by the Company with interest thereon at the highest Delaware statutory rate for interest on judgments against private parties from the date of payment thereof by the Participant to the date of reimbursement by the Company.

7.    Reservation of Rights.  Nothing in this Policy will be construed to (a) give any Participant any right to defer compensation received for services as a director of the Company other than as expressly authorized and permitted in this Policy or in any other plan or arrangement approved by the Board, (b) create any obligation on the part of the Board to nominate any Participant for reelection by the Company’s stockholders or (c) limit in any way the right of the Board to remove a Participant as a director of the Board.

8.    Amendment or Termination.  The Board may, at any time by resolution, terminate or amend this Policy provided that no such termination or amendment will adversely affect the rights of Participants with respect to awards granted under this Policy prior to such termination or amendment, without the consent of the Participant.

Exhibit 10.2

9.    Withholding.  The Company will have the right to deduct or withhold from all payments of compensation any taxes required by law to be withheld with respect to such payments.

10.    Directors Elected Between Annual Stockholders’ Meetings.  Notwithstanding anything to the contrary in this Policy, unless otherwise determined by the Board, the compensation hereunder of an individual who becomes a Participant as a result of his or her election to the Board other than at an annual meeting of the Company’s stockholders will be prorated for the period of service commencing with his or her initial election and ending on the Company’s next annual stockholders’ meeting.

11.    Section 409A.  This Policy and any compensation granted hereunder is intended to comply with, or be exempt from, the provisions of Section 409A of the Code.  If any provision of the Policy would otherwise frustrate or conflict with this intent, the provision, term or condition shall be interpreted and deemed amended so as to avoid this conflict. Notwithstanding the foregoing, the tax treatment of the benefits provided under the Policy is not warranted or guaranteed, and in no event shall the Company be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by any Participant on account of non-compliance with Section 409A of the Code.Document

Exhibit 10.10

FMC Corporation

Amended and Restated 
 Executive Severance Agreement

THIS AMENDED AND RESTATED EXECUTIVE SEVERANCE AGREEMENT
is made and entered into as of the 6th day of November, 2012 (the "Effective Date") by and between FMC Corporation (hereinafter referred to as the "Company") and Mark Douglas (hereinafter referred to as the "Executive") (the "Agreement").

WHEREAS, the Executive is currently a party to an Executive Severance Agreement with the Company dated March 22, 2010 (the "Prior Agreement"); and

WHEREAS, the Executive and the Company desire that this Agreement replace and supersede the Prior Agreement and all other prior executive severance agreements with the Company.

NOW THEREFORE, to assure the Company that it will have the continued dedication of the Executive and the availability of the Executive's service notwithstanding the possibility, threat, or occurrence of a Change in Control of the Company, and to induce the Executive to remain in the employ of the Company, and for other good and valuable consideration, the Company and the Executive agree to the amendment and restatement of the Prior Agreement as follows:

Article 1. Establishment, Term, and Purpose

This Agreement is effective from the Effective Date and will continue in effect until December 31, 2015. On that date, and on each subsequent December 31st, the term of this Agreement will be extended automatically for one (1) additional year, unless the Committee delivers written notice six (6) months prior to such date to the Executive that this Agreement will not be extended. If timely notice not to extend is given, this Agreement will terminate at the end of the term, or extended term, then in progress.

However, in the event a Change in Control occurs during the original or any extended term, this Agreement will remain in effect for the longer of: (i) twenty-four (24) months beyond the end of the month in which such Change . in Control occurred; and (ii) until all obligations of the Company hereunder have been fulfilled, and until all benefits required hereunder have been paid to the Executive.

Article 2. Definitions

Whenever used in this Agreement, the following terms will have the meanings set forth below and, when the meaning is intended, the initial letter of the word is capitalized.

2.1     Affiliate means a corporation or other entity controlled by, controlling or under common control with the Company, including, without limitation, any corporation partnership, joint venture or other entity during any period in which at least a fifty percent (50%) voting or

Exhibit 10.10

profits interest is owned, directly or indirectly, by the Company or any successor to the Company.

2.2     Base Salary means the salary of record paid to an Executive as annual salary, excluding amounts received under incentive or other bonus plans, whether or not deferred.

2.3     Beneficiary means the persons or entities designated or deemed designated by the Executive pursuant to Section 11.2 herein.

2.4     Board means the Board of Directors of the Company.

2.5    Cause means:

(a)    the Executive’s Willful and continued failure to substantially perform the Executive’s employment duties in any material respect (other than any such failure resulting from physical or mental incapacity or occurring after issuance by the Executive of a Notice of Termination for Good Reason), after a written demand for substantial performance is delivered to the Executive that specifically identifies the manner in which the Company believes the Executive has failed to perform the Executive’s duties, and after the Executive has failed to resume substantial performance of the Executive’s duties on a continuous basis within thirty (30) calendar days of receiving such demand;

(b)    the Executive’s Willfully engaging in conduct (other than conduct covered under (a) above) which is demonstrably and materially injurious to the Company or an Affiliate; or

(c)    the Executive’s having been convicted of, or pleading guilty or nolo contendere to, a felony under federal or state law on or prior to a Change in Control.

2.6    Change in Control means the happening of any of the following events:

(a)    An acquisition by any Person of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of twenty percent (20%) or more of either (i) the then outstanding shares of common stock of the Company (the “Outstanding Company Common Stock”) or (ii) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); excluding, however, the following:  (A) any acquisition directly from the Company, other than an acquisition by virtue of the exercise of a conversion privilege unless the security being so converted was itself acquired directly from the Company, (B) any acquisition by the Company, (C) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any entity controlled by the Company, or (D) any acquisition pursuant to a transaction which complies with Subsections (i), (ii) and (iii) of Subsection (c) of this Section 2.6;

Exhibit 10.10

(b)    A change in the composition of the Board such that the individuals who, as of the Effective Date, constitute the Board (such Board will be hereinafter referred to as the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, for purposes of this Section 2.6, that any individual who becomes a member of the Board subsequent to the Effective Date, whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of those individuals who are members of the Board and who were also members of the Incumbent Board (or deemed to be such pursuant to this proviso) will be considered as though such individual were a member of the Incumbent Board; but, provided further, that any such individual whose initial assumption of office occurs as a result of either an actual or threatened election contest (as such terms are used in Rule 14a-11 of Regulation 14A promulgated under the Exchange Act) or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board will not be so considered as a member of the Incumbent Board;

(c)    Consummation of a reorganization, merger or consolidation, sale or other disposition of all or substantially all of the assets of the Company, or acquisition by the Company of the assets or stock of another entity (“Corporate Transaction”); excluding, however, such a Corporate Transaction pursuant to which (i) all or substantially all of the individuals and entities who are the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such Corporate Transaction will beneficially own, directly or indirectly, more than sixty percent (60%) of, respectively, the outstanding shares of common stock, and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Corporate Transaction (including, without limitation, a corporation which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Corporate Transaction, of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be, (ii) no Person (other than the Company, any employee benefit plan (or related trust) of the Company or such corporation resulting from such Corporate Transaction) will beneficially own, directly or indirectly, twenty percent (20%) or more of, respectively, the outstanding shares of common stock of the corporation resulting from such Corporate Transaction or the combined voting power of the outstanding voting securities of such corporation entitled to vote generally in the election of directors except to the extent that such ownership existed prior to the Corporate Transaction, and (iii) individuals who were members of the Incumbent Board will constitute at least a majority of the members of the board of directors of the corporation resulting from such Corporate Transaction; or

(d)    The approval by the stockholders of the Company of a complete liquidation or dissolution of the Company.

Exhibit 10.10

2.7    Code means the Internal Revenue Code of 1986, as amended from time to time, and any successor thereto.

2.8    Committee means the Compensation and Organization Committee of the Board or any other committee of the Board appointed to perform the functions of the Compensation and Organization Committee.

2.9    Company means FMC Corporation, a Delaware corporation, or any successor thereto as provided in Article 10 herein.

2.10    Date of Separation from Service means the date on which a Qualifying Termination occurs.

2.11    Disability means complete and permanent inability by reason of illness or accident to perform the duties of the occupation at which the Executive was employed when such disability commenced.

2.12    Exchange Act means the Securities Exchange Act of 1934, as amended from time to time, and any successor thereto.

2.13    Good Reason means, without the Executive’s express written consent, the occurrence of any one or more of the following:

(a)    The assignment of the Executive to duties materially inconsistent with the Executive’s authorities, duties, responsibilities and status (including, without limitation, offices, titles and reporting requirements) as an employee of the Company (including, without limitation, any material change in duties or status as a result of the stock of the Company ceasing to be publicly traded or of the Company becoming a subsidiary of another entity), or a reduction or alteration in the nature or status of the Executive’s authorities, duties, or responsibilities from the greatest of those in effect (i) immediately preceding the Company’s entry into any definitive agreement to conduct the Change in Control, or (ii) immediately preceding the Change in Control;

(b)    The Company’s requiring the Executive to be based at a location which is at least fifty (50) miles further from the Executive’s then current primary residence than such residence is from the office where the Executive is located at the time of the Change in Control, except for required travel on the Company’s business to an extent substantially consistent with the Executive’s business obligations;

(c)    A reduction by the Company in the Executive’s Base Salary;

(d)    A material reduction in the Executive’s level of participation in any of the Company’s short- and/or long-term incentive compensation plans, or employee benefit or retirement plans, policies, practices, or arrangements in which the Executive participates from the greatest of the levels in place:  (i) immediately 

Exhibit 10.10

preceding the Company’s entry into any definitive agreement to conduct the Change in Control, or (ii) immediately preceding the Change in Control;

(e)    The failure of the Company to obtain a satisfactory agreement from any successor to the Company to assume and agree to perform this Agreement, as contemplated in Article 10 herein.

provided that any such event shall constitute Good Reason only if Executive notifies the Company in writing of such event within 90 days following the initial occurrence thereof, the Company fails to cure such event within 30 days after receipt from Executive of written notice thereof, and Executive resigns his employment within two years following the initial occurrence of such event.

The existence of Good Reason will not be affected by the Executive’s temporary incapacity due to physical or mental illness not constituting a Disability.

2.14    Notice of Termination means a written notice which indicates the specific termination provision in this Agreement relied upon, and sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive’s employment under the provision so indicated.

2.15    Person has the meaning ascribed to such term in Section 3(a)(9) of the Exchange Act and used in Sections 13(d) and 14(d) thereof, including a “group” as provided in Section 13(d).

2.16    Qualifying Termination means any of the events described in Section 3.2 herein, the occurrence of which triggers the payment of Severance Benefits hereunder.

2.17    Separation from Service means the Executive’s termination of employment with the Company, its Affiliates and with each member of the controlled group (within the meaning of Sections 414(b) or (c) of the Code) of which the Company is a member.  An Executive will not be treated as having a Separation from Service during any period the Executive’s employment relationship continues, such as a result of a leave of absence, and whether a Separation from Service has occurred shall be determined by the Committee (on a basis consistent with rules under Section 409A) after consideration of all the facts and circumstances, including whether either no further services are to be performed or there is a reasonably anticipated permanent and substantial decrease (e.g., 80% or more) in the level of services to be performed (and the related amount of compensation to be received for such services) below the level of services previously performed (and compensation previously received).

2.18    Severance Benefits means the payment of severance compensation as provided in Section 3.3 herein.

2.19    Trust means the Company grantor trust described in Article 6 of this Agreement.

2.20    Willful means any act or omission by the Executive that was in good faith and with a reasonable belief that the action or omission was in the best interests of the Company or its affiliates.  Any act or omission based upon authority given pursuant to a duly adopted Board 

Exhibit 10.10

resolution, or, upon the instructions of any senior officer of the Company, or based upon the advice of counsel for the Company will be conclusively presumed to be taken or omitted by the Executive in good faith and in the best interests of the Company and/or its affiliates.

Article 3.  Severance Benefits

3.1    Right to Severance Benefits.  The Executive will be entitled to receive the Severance Benefits from the Company if a Qualifying Termination occurs after a Change in Control and before the end of the twenty-fourth (24th) calendar month following the end of the month in which the Change in Control occurs.

The Executive will not be entitled to receive Severance Benefits if the Executive’s employment is terminated (i) for Cause, (ii) due to a voluntary termination without Good Reason, or (iii) due to death or Disability.

3.2    Qualifying Termination.  A Qualifying Termination shall occur if:

(a)    The Executive incurs a Separation from Service because of an involuntary termination of the Executive’s employment by the Company for reasons other than Cause, Disability or death; or

(b)    The Executive incurs a Separation from Service because of a voluntary termination by the Executive for Good Reason pursuant to a Notice of Termination delivered to the Company by the Executive.

3.3    Description of Severance Benefits.  In the event the Executive becomes entitled to receive Severance Benefits, as provided in Sections 3.1 and 3.2 herein, the Company will pay to the Executive (or in the event of the Executive’s death, the Executive’s Beneficiary) and provide him with the following at the time or times provided in Section 4.1 herein:

(a)    An amount equal to three (3) times the highest rate of the Executive’s annualized Base Salary in effect at any time up to and including the Date of Separation from Service.

(b)    An amount equal to three (3) times the Executive’s highest annualized target Management Incentive Award granted under the FMC Corporation Incentive Compensation and Stock Plan for any plan year up to and including the plan year in which the Executive’s Date of Separation from Service occurs.

(c)    An amount equal to the Executive’s unpaid Base Salary, and unused and accrued vacation pay, earned or accrued through the Date of Separation from Service.

(d)    Any Management Incentive Award otherwise payable (but for Executive’s separation) for the plan year in which the Executive’s Date of Separation from Service occurred, prorated through the Date of Separation from Service.

Exhibit 10.10

(e)    A continuation of the Company’s welfare benefits of life and accidental death and dismemberment, and disability insurance coverage for three (3) full years after the Date of Separation from Service.  These benefits will be provided to the Executive (and to the Executive’s covered spouse and dependents) at the same premium cost, and at the same coverage level, as in effect as of the date of the Change in Control.  The continuation of these welfare benefits will be discontinued prior to the end of the three (3) year period if the Executive has available substantially similar benefits at a comparable cost from a subsequent employer, as determined by the Committee.

(f)    For a period of three (3) full years following the Date of Separation from Service, the Company shall provide medical insurance for the Executive (and the Executive’s covered spouse and dependents) at the same premium cost, and at the same coverage level, as in effect as of the date of the Change in Control.  The continuation of this medical insurance will be discontinued prior to the end of the three (3) year period if the Executive has available substantially similar medical insurance at a comparable cost from a subsequent employer, as determined by the Committee.  The date that medical benefits provided in this paragraph cease to be provided under this paragraph will be the date of the Executive’s qualifying event for continuation coverage purposes under Code Section 4980B(f)(3)(B).

Awards granted under the FMC Corporation Incentive Compensation and Stock Plan, and other incentive arrangements adopted by the Company will be treated pursuant to the terms of the applicable plan. 

The aggregate benefits accrued by the Executive as of the Date of Separation from Service under the FMC Corporation Salaried Employees’ Retirement Program, the FMC Corporation Savings and Investment Plan, the FMC Corporation Salaried Employees’ Equivalent Retirement Plan, the FMC Corporation Non-Qualified Savings and Investment Plan and other savings and retirement plans sponsored by the Company will be distributed pursuant to the terms of the applicable plan.

In addition, for purposes of benefit calculation only under the Company’s nonqualified retirement plans with respect to benefits that have not been paid prior to such Change in Control, it will be assumed that the Executive’s employment continued following the Date of Separation from Service for three (3) full years (i.e., three (3) additional years of age and service credits will be added); provided, however, that for purposes of determining “final average pay” under such programs, the Executive’s actual pay history as of the Date of Separation from Service will be used.

3.4    Termination for Disability.  If the Executive’s employment is terminated due to Disability, the Executive will receive the Executive’s Base Salary through the Date of Separation from Service, and the Executive’s benefits will be determined in accordance with the Company’s disability, retirement, survivor’s benefits, insurance and other applicable plans and programs then in effect.  If the Executive’s employment is terminated due to Disability, he will not be entitled to the Severance Benefits described in Section 3.3.

Exhibit 10.10

3.5    Termination upon Death.  If the Executive’s employment is terminated due to death, the Executive’s benefits will be determined in accordance with the Company’s retirement, survivor’s benefits, insurance and other applicable programs of the Company then in effect.  If the Executive’s employment is terminated due to death, neither the Executive’s estate nor the Executive’s Beneficiary will be entitled to the Severance Benefits described in Section 3.3.

3.6    Termination for Cause, or Other Than for Good Reason.  Following a Change in Control of the Company, if the Executive’s employment is terminated either:  (a) by the Company for Cause; or (b) by the Executive (other than for Good Reason), the Company will pay the Executive an amount equal to the Executive’s Base Salary and accrued vacation through the Date of Separation from Service, at the rate then in effect, plus all other amounts to which the Executive is entitled under any plans of the Company, at the time such payments are due and the Company will have no further obligations to the Executive under this Agreement.

3.7    Notice of Termination.  Any termination of employment by the Company or by the Executive for Good Reason will be communicated by a Notice of Termination.

Article 4.  Form and Timing of Severance Benefits

4.1    Form and Timing.  Subject to Section 4.2 and 5.3:

(a)    the amounts payable under Sections 3.3(a), (b) and (c) will be paid in a lump sum on the 31st day following the Termination Date;

(b)    the amount payable under Section 3.3(d) will be paid in a lump sum at the same time that Management Incentive Awards are paid to employees generally for the year in which the Executive’s Separation from Service occurs, but in no event later than 2 1⁄2 months following the end of that year; and

(c)    the benefits due under Sections 3.3(e) and 3.3(f) will continue uninterrupted following the Executive’s Separation from Service (but will be discontinued if the requirements of Section 4.2 are not timely satisfied).

4.2    Release.  All rights, payments and benefits due to the Executive under Section 3.3 (other than Section 3.3(c)) shall be conditioned on the Executive’s execution of a general release of claims against the Company and its affiliates in a form reasonably prescribed by the Company and on that release becoming irrevocable within 30 days following the Termination Date.

Article 5.  Taxes and Tax Compliance

5.1    Withholding of Taxes.  The Company will be entitled to withhold from any amounts payable under this Agreement all taxes as it may believe are reasonably required to be withheld (including, without limitation, any United States federal taxes and any other state, city, or local taxes).

5.2    Section 409A Compliance.  Notwithstanding any other provision of this Agreement to the contrary, any payment that constitutes the deferral of compensation (within the meaning of 

Exhibit 10.10

Treas. Reg. § 1.409A-1(b)) that is otherwise required to be made to the Executive prior to the day after the date that is six months from the Date of Separation from Service shall be accumulated, deferred and paid in a lump sum to the Executive (with interest on the amount deferred from the Date of Separation from Service until the day prior to the actual payment at the federal short-term rate on the Date of Separation from Service) on the day after the date that is six months from the Date of Separation from Service; provided, however, if Executive dies prior to the expiration of such six month period, payment to the Executive’s Beneficiary shall be made as soon as practicable following the Executive’s death. Any reimbursements or in-kind benefits that constitute a deferral of compensation (within the meaning of Treas. Reg. § 1.409A1(b)) will be provided subject to the requirements of Treas. Reg. §§ 1.409A3(i)(1)(iv)(A)(3), (4) and (5).

Article 6.  Establishment of Trust

The Company has created a domestic Trust (which will be a grantor trust within the meaning of Sections 671-678 of the Code) for the benefit of the Executive and Beneficiaries.  The Trust has a Trustee selected by the Company, and has certain restrictions as to the Company’s ability to amend the Trust or cancel benefits provided thereunder.  Any assets contained in the Trust will, at all times, be specifically subject to the claims of the Company’s general creditors in the event of bankruptcy or insolvency.

At any time following the Effective Date hereof, the Company may, but is not obligated to, deposit assets in the Trust in an amount equal to or less than the aggregate Severance Benefits which may become due to the Executive under Sections 3.3 (a), (b), (c) and (d) of this Agreement.

As soon as practicable after the Company has knowledge that a Change in Control is imminent, but no later than the day immediately preceding the date of the Change in Control, the Company will deposit assets in such Trust in an amount equal to the estimated aggregate Severance Benefits which may become due to the Executive under Sections 3.3 (a), (b), (c) and (d) of this Agreement.  Such deposited amounts will be reviewed and increased, if necessary, every six (6) months following a Change in Control to reflect the Executive’s estimated aggregate Severance Benefits at such time.

Article 7.  The Company’s Payment Obligation

The Company’s obligation to make the payments and the arrangements provided for herein will be absolute and unconditional, and will not be affected by any circumstances, including, without limitation, any offset, counterclaim, recoupment, defense, or other right which the Company may have against the Executive or anyone else.  All amounts payable by the Company hereunder will be paid without notice or demand.  Each and every payment made hereunder by the Company will be final, and the Company will not seek to recover all or any part of such payment from the Executive or from whomsoever may be entitled thereto, for any reasons whatsoever.

The Executive will not be obligated to seek other employment in mitigation of the amounts payable or arrangements made under any provision of this Agreement, and the obtaining of any such other employment will in no event effect any reduction of the Company’s obligations to make the payments and arrangements required to be made under this Agreement, except to the 

Exhibit 10.10

extent provided in Sections 3.3(e) and (f) herein.  Notwithstanding anything in this Agreement to the contrary, if Severance Benefits are paid under this Agreement, no severance benefits under any program of the Company, other than benefits described in this Agreement, will be paid to the Executive.

Article 8.  Fees and Expenses

To the extent permitted by law, the Company will pay as incurred (within ten (10) days following receipt of an invoice from the Executive) all legal fees, costs of litigation, prejudgment interest, and other expenses incurred in good faith by the Executive as a result of the Company’s refusal to provide the Severance Benefits to which the Executive becomes entitled under this Agreement, or as a result of the Company’s contesting the validity, enforceability, or interpretation of this Agreement, or as a result of any conflict between the parties pertaining to this Agreement; provided, however, that the Company will reimburse the Executive only for such expenses arising out of litigation commenced within three years following the Executive’s Separation from Service.  Notwithstanding any other provision in this Article 8, the Company will reimburse the Executive only for expenses incurred prior to the end of the fifth year following the Executive’s Separation from Service.

Article 9.  Outplacement Assistance

Following a Qualifying Termination (as described in Section 3.2 herein), the Executive will be reimbursed by the Company for the costs of all reasonable outplacement services obtained by the Executive within the two (2) year period after the Date of Separation from Service; provided, however, that reimbursements must be made by the end of the third year following the Date of Separation from Service and the total reimbursement for such outplacement services will be limited to an amount equal to fifteen percent (15%) of the Executive’s Base Salary as of the Date of Separation from Service.

Article 10.  Successors and Assignment

10.1    Successors to the Company.  The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation, or otherwise) of all or substantially all of the business and/or assets of the Company or of any division or subsidiary thereof to expressly assume and agree to perform the Company’s obligations under this Agreement in the same manner and to the same extent that the Company would be required to perform them if no such succession had taken place.

10.2    Assignment by the Executive.  This Agreement will inure to the benefit of and be enforceable by the Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees, and legatees.  If the Executive dies while any amount would still be payable to him hereunder had he continued to live, all such amounts, unless otherwise provided herein, will be paid in accordance with the terms of this Agreement to the Executive’s Beneficiary.  If the Executive has not named a Beneficiary, then such amounts will be paid to the Executive’s devisee, legatee, or other designee, or if there is no such designee, to the Executive’s estate, and such designee, or the Executive’s estate will be treated as the Beneficiary hereunder.

Exhibit 10.10

Article 11.  Miscellaneous

11.1    Employment Status.  Except as may be provided under any other agreement between the Executive and the Company, the employment of the Executive by the Company is “at will,” and may be terminated by either the Executive or the Company at any time, subject to applicable law.

11.2    Beneficiaries.  The Executive may designate one or more persons or entities as the primary and/or contingent Beneficiaries of any Severance Benefits owing to the Executive under this Agreement.  Such designation must be in the form of a signed writing acceptable to the Committee.  The Executive may make or change such designations at any time.

11.3    Severability.  In the event any provision of this Agreement will be held illegal or invalid for any reason, the illegality or invalidity will not affect the remaining parts of the Agreement, and the Agreement will be construed and enforced as if the illegal or invalid provision had not been included.  Further, the captions of this Agreement are not part of the provisions hereof and will have no force and effect.

11.4    Modification.  No provision of this Agreement may be modified, waived, or discharged unless such modification, waiver, or discharge is agreed to in writing and signed by the Executive and by an authorized member of the Committee, or by the respective parties’ legal representatives and successors.

11.5    Applicable Law.  To the extent not preempted by the laws of the United States, the laws of the state of Delaware will be the controlling law in all matters relating to this Agreement.

11.6    Indemnification.  To the full extent permitted by law, the Company will, both during and after the period of the Executive’s employment, indemnify the Executive (including by advancing him expenses) for any judgments, fines, amounts paid in settlement and reasonable expenses, including any attorneys’ fees, incurred by the Executive in connection with the defense of any lawsuit or other claim to which he is made a party by reason of being (or having been) an officer, director or employee of the Company or any of its subsidiaries.  The Executive will be covered by director and officer liability insurance to the maximum extent that that insurance covers any officer or director (or former officer or director) of the Company.

IN WITNESS WHEREOF, the parties have executed this amended and restated Agreement on this 7th day of December, 2012.									
			
	FMC Corporation     		Executive:
			
	By:  /s/ Kenneth R. Garrett   
		/s/ Mark Douglas                            

	            Kenneth R. Garrett		
			
	Its:       Executive Vice President		
	            Human Resources		
			
	Attest:

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