Document:

QuickLinks
 -- Click here to rapidly navigate through this document

 
 

EXHIBIT 10.5    
    

FORM OF TRANSITION SERVICES AGREEMENT (this "Agreement"),
dated                        , among
Kerr-McGee Corporation, a Delaware corporation (the "Parent"), Kerr-McGee Worldwide Corporation, a Delaware corporation
("Worldwide"), and Tronox Incorporated, a Delaware corporation (the "Tronox"). 

INTRODUCTION

        The
Board of Directors of Parent (the "Board") has determined that it is in the best interests of Parent and its stockholders to transfer
certain existing businesses of Parent and its subsidiaries to Tronox. 

        In
order to ensure an orderly transition of the such businesses to Tronox, as described in the Master Separation Agreement (as defined below), each party desires to provide to the other
the services described herein for a transitional period. 

        The
parties hereby agree as follows: 

        Section 1.    Definitions.    For purposes of this Agreement, the following terms
shall have the meanings set forth or as referenced below: 

        "Affiliate" has the meaning given such term in the Master Separation Agreement. 

        "Closing Date" has the meaning given such term in the Master Separation Agreement. 

        "Governmental Authorities" has the meaning given such term in the Master Separation Agreement. 

        "Group" means either the Parent Group or the Tronox Group, as the context requires. 

        "Information" has the meaning given such term in the Master Separation Agreement. 

        "Liabilities" has the meaning given such term in the Master Separation Agreement. 

        "Master Separation Agreement" means the Master Separation Agreement, dated as of the date hereof, by and among Kerr-McGee
Corporation, Kerr-McGee Worldwide Corporation and Tronox Incorporated. 

        "Providing Party" means, with respect to any Service, the party providing such Service. 

        "Parent Group" has the meaning given such term in the Master Separation Agreement. 

        "Receiving Party" means, with respect to any Service, the party receiving such Service. 

        "Separation" means, with respect to any Service, the separation, duplication, installation or substitution of the subject matter of such
Service as utilized by the Receiving Party as of the Closing Date (unless another date is expressly provided for with respect to a particular Service), such that the Receiving Party is reasonably able
to provide for itself or through alternative service providers the benefits of such subject matter in a sustainable manner substantially similar to that provided to, or on behalf of, the Receiving
Party as of the Closing Date (unless another date is expressly provided for with respect to a particular Service). 

        "Service Costs" means, with respect to each Service provided under the terms and subject to the conditions of this Agreement, an amount
equal to the sum of such of the following items as may apply: 

        (i)    the
fully burdened labor costs incurred by the Providing Party in respect of the individual employees of such Providing Party who are engaged in the provision of such
Service without management fee (as applicable to the individual and/or the Service) for the portion of their work time engaged in the provision of such Service; 

        (ii)   the
costs charged to the Providing Party by a third party provider in connection with such Service; 

        (iii)  the
out-of-pocket and other expenses (other than expenses included in Transition Costs and the costs charged under item (i) above)
incurred by the Providing Party in connection with such Service; 

 

        (iv)  taxes
(other than Transfer Taxes) as set forth in Section 9(e) incurred by the Providing Party in connection with such Service; and 

        (v)   any
costs expressly included as Service Costs in this Agreement, including costs as set forth in Section 3.7 of Exhibit A. 

        "Transfer Taxes" means all recordation, transfer, documentary, excise, sales, value added, use, stamp, conveyance or other similar taxes,
duties or governmental charges, and all recording or filing fees or similar costs, imposed or levied by reason of, in connection with or attributable to the Separation of any Service. 

        "Transition Costs" means the one-time, initial set up, costs and expenses that are incurred by Parent Group in order to
initiate the process of obtaining the Separation of any Service as contemplated by (and subject to) the terms and conditions of this Agreement and the costs of obtaining and, if applicable, modifying
any contractual rights described in Section 6(c) of this Agreement, including such costs and expenses incurred prior to the date hereof by the Providing Party in preparation for the provision
of the Services (for the avoidance of doubt, Transition Costs shall not include any annual or recurring fees, including without limitation, license fees, or any maintenance fees, support services
fees, subscription fees or other costs relating to ongoing use). 

        "Tronox Group" has the meaning given such term in the Master Separation Agreement. 

        Section 2.    Certain Transferred Personnel.    Parent hereby acknowledges and
agrees that the individuals listed on Schedule 2 are identified as prospective Tronox Individuals (as such term is defined in the
Employee Benefits Agreement (as defined in the Master Separation Agreement)) each of whom may become, if not already, employees of the Tronox Group as of the Closing Date. Each party agrees that, for
a period of one year after the Closing Date, neither party nor its respective Affiliates shall recruit, offer employment to, hire or engage as a consultant any Person who is an employee of the other
party immediately after the Closing Date; provided that the foregoing provision will not prohibit any general solicitation of employment not
specifically directed toward employees of either Group or the soliciting or hiring of any individual who terminated his or her own employment with any member of the other Group or whose employment was
terminated by any member of the other Group prior to such solicitation or hiring. 

        Section 3.    Services.    

        (a)   Except
as otherwise provided herein, on the terms and subject to the conditions set forth herein, Parent shall provide, or cause one or more members of its Group to
provide, the Tronox Group with each of the services listed on Exhibit A and Tronox shall provide, or cause one or more members of its Group to provide, the Parent
Group with each of the services listed on Exhibit B (each service listed on Exhibit A or
Exhibit B being a "Service" and, collectively, the "Services"), in
each case beginning on the "Start Date" set forth on Exhibit A or Exhibit B for
such Service and ending on the earlier of (i) the "End Date" set forth on Exhibit A or
Exhibit B for such Service, (ii) the termination of this Agreement, or (iii) the termination of such Service pursuant to Section 11(b) (each
such duration, a "Service Term"). For the avoidance of doubt, it is understood that services included as "Services" may include, subject to the terms
and conditions of this Agreement, the transfer and installation of certain hardware, software, related licenses and applications, and other items as set forth on
Exhibit A, Exhibit B or pursuant to the Master Separation Agreement. 

        (b)   Subject
to the provisos set forth in this Section 3(b), the Transition Costs incurred by the Parent Group in connection with Separation of the Services to be
provided to the Tronox Group shall be borne 100% by the Parent Group and such Transition Costs shall not be included in the calculation of Service Costs payable by the Tronox Group for such Services;  provided, however, that, with respect to each line item set forth in
Exhibit C, in no event shall Parent Group have any obligation to incur any Transition Costs in excess of the specific amount allocated to each such line item set
forth on Exhibit C (with respect to each 

2

 

line
item on Exhibit C, the "Per Line Maximum Amount of Transition Costs") and in no event in an aggregate amount in
excess of $11 million; provided, further, that any Transition Costs in excess of the applicable Per Line Maximum Amount of Transition Costs shall
be borne 100% by Tronox Group. All Transfer Taxes incurred in connection with the Separation of the Services shall be borne 100% by the Parent Group, subject to Section 9(e). Such Transition
Costs shall not be included in the calculation of Service Costs payable by the Tronox Group for such Services. 

        (c)   It
is understood and agreed amongst the parties that, notwithstanding any provision to the contrary in this Agreement, the Providing Party shall have no obligation
whatsoever to upgrade systems, invest in product enhancements or increase staffing, capacity, functionality, reliability or any other aspect of any Service beyond the level that exists as of the date
hereof with respect to any Service. 

        (d)   Notwithstanding
anything to the contrary contained herein, during the Term, a Receiving Party may from time to time request that a Providing Party provide special
services or projects in addition to the Services, and (subject to the mutual agreement of the parties hereto) such Providing Party shall make commercially reasonable efforts to provide such additional
services or projects. If such Providing Party agrees to provide such additional services or projects, the parties shall negotiate in good faith to establish the terms (including, without limitation,
price) for providing such additional services or projects and, following agreement on such terms, Exhibit A or Exhibit B hereof
shall be amended, as applicable, to include such additions. 

        Section 4.    Standards of Performance; Level of Services.    

        (a)   Each
Providing Party, with respect to any Service, shall perform such Service exercising the same degree of care, at the same general level and at the same general
degree of accuracy and responsiveness, in each case as it exercises in performing the same or similar services for its own account, with priority equal to that provided to its own businesses and
members of its Group. 

        (b)   In
no event shall any party, as Receiving Party with respect to any Service, be entitled to increase its use of such Service above that level of use specified in the
exhibit related thereto without the prior written consent of the Providing Party. Notwithstanding anything to the contrary in this Agreement, the Providing Party shall not be required to provide the
Receiving Party with levels of such Service above the levels that existed prior to the date hereof or with the advantage of systems, equipment, facilities, training, services or improvements procured,
obtained or made after the date hereof. 

        (c)   Notwithstanding
anything to the contrary contained herein, the Providing Party with respect to any Service may, but is not required to, make changes from time to time in
the manner in which such Service is provided if (i) the Providing Party is making similar changes in the manner in which such Service is provided to it and members of its own Group,
(ii) the Providing Party furnishes to the Receiving Party substantially the same notice the Providing Party provides to members of its own Group with respect to such changes, and
(iii) such changes shall not create a substantial risk of a material disruption of the Receiving Party's business or of the Receiving Party's incurring a material loss or liability. 

        (d)   Each
Group shall nominate a representative to act as the primary contact person for the provision of all of the Services (the "Service
Coordinators"). The initial Service Coordinators shall be Kenneth Crouch for the Parent Group and Mary Mikkelson for the Tronox Group. Each party shall notify the other party
in writing of any change in the Service Coordinators. The parties agree that all communications relating to the provision of the Services shall be directed to the Service Coordinators. 

        (e)   In
order to monitor, coordinate and facilitate implementation of the terms and conditions of this Agreement, the parties shall establish (i) a
"Steering Committee" consisting of at least one (1) senior manager from each of Parent Group and Tronox Group and whereby each such Group is
equally represented and (ii) an "Operating Committee" consisting, as necessary, of one (1) representative of each of Parent Group and
Tronox Group from each functional area that is the subject of Exhibits A and B (for such time as Service Terms within such functional areas are in effect). The Steering
Committee shall 

3

 

provide
general oversight of the terms and conditions of this Agreement and shall work in good faith to resolve any disputes arising under this Agreement as set forth under Section 7. The
Operating Committee shall be responsible for the day-to-day operations related to the implementation of the terms and conditions of this Agreement and the exhibits hereto. The
initial Steering Committee representatives shall be (i) for the Parent Group, the individuals named by the Parent Group by the Closing Date and (ii) for Tronox Group, Tom Adams, Mary
Mikkelson and Robert Y. Brown. The initial Operating Committee representatives shall be (i) for the Parent Group, the individuals named by the Parent Group by the Closing Date and
(ii) for Tronox Group, Mark Meadors, Candace Kahle, Melody Walke, Bill Snider and Cliff Dolton. The initial Steering Committee and Operating Committee representatives shall not be changed by
either Group on less than ten (10) days' prior written notice to the Service Coordinator of the other Group. The Steering Committee and Operating Committee representatives shall meet at least
monthly (or more frequently if needed) during the Term of this Agreement; provided, the members of the Steering Committee and the Operating Committee
may participate in meetings of such committees by means of conference telephone, videoconferencing or other communications equipment by means of which all persons participating in the meeting can hear
each other. The Steering Committee and Operating Committee representative for each Group shall stay reasonably apprised of the activities of the employees, agents and contractors of such Group who are
providing or receiving the Services in order to maximize efficiency in the provision and receipt of the Services. Actions of the Steering Committee shall require the approval of Steering Committee
representatives from each of the Parent Group and the Tronox Group. 

        Section 5.    Resources.    In connection with the Services, the Receiving Party
shall make reasonably available for consultation with the Providing Party those retained employees and consultants or other service providers of the Receiving Party reasonably necessary for the
effective provision of such Services. 

        Section 6.    Third Parties.    

        (a)   The
Providing Party with respect to a particular Service shall make reasonably available such personnel, facilities, equipment, systems and management as are required to
provide such Service. Subject to Section 4, the Providing Party shall have the right to designate which such resources it shall assign to perform such Service and shall have the right to remove
and replace any such resources at any time or designate any other members of its Group or a third party provider to perform such Service; provided,
however, that (i) the Providing Party shall use commercially reasonable efforts to prevent the disruption to the Receiving Party in the transition of the Service to
different resources or another provider and (ii) with respect to Services that are not currently outsourced by a Providing Party to a third party, any substitution of a third party provider in
connection with the provision of such Service shall be subject to the approval of the Steering Committee. Notwithstanding the foregoing, each Providing Party shall remain solely responsible, in
accordance with the terms of this Agreement, for the performance of any Service it is required to provide hereunder. 

        (b)   With
respect to Services that are currently outsourced by Parent Group to third parties, Parent Group shall reasonably assist the Tronox Group in seeking to cause such
third parties to provide such Services to the Tronox Group. In the event Parent Group is not able to secure the agreement of any third parties to provide Services to the Tronox Group, Parent Group
shall reasonably assist the Tronox Group in seeking to obtain substantially similar services from another source on substantially similar terms and conditions as those currently being provided. 

        (c)   If,
and to the extent, required, the Tronox Group, on the one hand, and the Parent Group, on the other hand, shall cooperate in good faith in seeking to obtain any
required transfer or assignment agreements or any other agreements necessary to transfer contractual rights of the Parent Group, that existed immediately prior to the Closing Date, to receive services
or license software, to the extent (i) such agreements or rights are necessary for the provision of Services to the Tronox Group and (ii) such rights were utilized by the Tronox Group
prior to the Closing Date. Such agreements shall be in the name or for the benefit of the applicable member, or members, of the Tronox Group. The cooperation required 

4

 

hereunder
shall be included in the Service to which it is related. For the avoidance of doubt, the parties agree and acknowledge that a Providing Party shall not be liable under this Agreement for any
annual or recurring fees, including without limitation license fees, or any maintenance fees, support services fees, subscription fees or other costs relating to ongoing use by a Receiving Party
stemming from a transfer to such Receiving Party pursuant to a Service hereunder. 

        (d)   A
Providing Party shall not enter into any agreement or contract with any third party to provide any Services hereunder pursuant to which the Receiving Party would
remain obligated to such third party upon the conclusion of this Agreement without such Receiving Party's prior written consent, such consent not to be unreasonably withheld, delayed or conditioned. 

        (e)   Without
prejudice to the obligations of the Parent Group under Section 3(b) and Exhibit C of this Agreement, the Receiving Party shall be solely
responsible for acquiring or otherwise obtaining all assets and rights for third party services not otherwise obtained as a result of the expenditure of such Transition Costs, including without
limitation, hardware, software, information systems and other materials and third party services, reasonably necessary in connection with the Separation of any Service as contemplated by this
Agreement. 

        Section 7.    Good Faith Cooperation; Dispute Resolution.    

        (a)   The
parties shall cooperate in good faith in all matters relating to the provision and receipt of the Services. Such cooperation shall include exchanging information,
providing access to personnel, equipment, office space, electronic systems and other property, performing true-ups and adjustments and obtaining all consents, licenses, sublicenses or
approvals necessary to permit each party to perform its obligations hereunder. 

        (b)   In
the event of a dispute under this Agreement, either Group may give notice to the other Group requesting that the Steering Committee in good faith try to resolve (but
without any obligation to resolve) such dispute. Not later than 10 days after said notice, each Group shall submit to the other Group a written statement setting forth such Group's description
of the dispute and of the respective positions of the Groups on such dispute and such Group's recommended resolution and the reasons why such Group feels its recommended resolution is fair and
equitable in light of the terms and spirit of this Agreement. Such statements represent part of a good-faith effort to resolve a dispute and as such, no statements prepared by a Group
pursuant to this Section 7 may be introduced as evidence or used as an admission against interest in any arbitral or judicial resolution of such dispute. 

        (c)   If
the dispute continues unresolved for a period of five days (or such longer period as the Steering Committee may otherwise agree upon) after the simultaneous exchange
of such written statements, then the Steering Committee shall promptly commence good-faith negotiations to resolve such dispute but without any obligation to resolve it. The initial
negotiating meeting may be conducted by teleconference. 

        (d)   Not
later than seven days after the commencement of good-faith negotiations under Section 7(c) above: (i) if the Steering Committee renders an
agreed resolution on the matter in dispute, then both Groups shall be bound thereby; and (ii) if the Steering Committee does not render an agreed resolution, then the dispute shall be submitted
for resolution pursuant to Section 7(e). 

        (e)   Disputes
arising under this Agreement and not resolved by the Steering Committee within seven days under clause (i) of Section 7(d) shall be submitted in
writing to an appropriate executive officer of each party. The executive officers shall attempt to resolve any dispute submitted to them for resolution in accordance with this Section 7(e)
through consultation and negotiation, within 30 days after such submittal (or such longer period as may be mutually agreed by the parties). The executive officers may request the assistance of
an independent mediator if they believe that such a mediator would be of assistance to the efficient resolution of the dispute. 

5

 

        (f)    Subject
to Section 11(c), during the course of resolution of any dispute, the rights and obligations of the parties under this Agreement, including with respect
to the subject matter of such dispute, shall continue. 

        (g)   If
the parties fail to resolve any dispute pursuant to this Section 7, then the provisions of Section 18 shall apply. 

        Section 8.    Exceptions to Providing Party's Obligation to Perform.    

        (a)   The
Providing Party with respect to any Service shall not be required to provide such Service to the extent the performance of such Service would require the Providing
Party to violate any applicable Law or would result in the breach of any software license or other Contract with a Person not a member of the Providing Party's Group. If the Providing Party with
respect to any Service reasonably determines that it is unable to provide such Service in accordance with the terms hereof, the parties shall cooperate to determine the best alternative approach.
Until such alternative approach is found or the problem is otherwise resolved to the satisfaction of the parties, the Providing Party shall use commercially reasonable efforts to continue to provide
such Service. To the extent the parties agree upon an alternative approach that requires payment of amounts above and beyond what the Receiving Party is required to pay under this Agreement for such
Service, such excess amounts shall be borne by the Receiving Party, or as otherwise agreed by the parties. 

        (b)   Notwithstanding
anything to the contrary contained herein, 

        (i)    if
the Receiving Party (A) elects to decommission, replace, modify or change its information technology or communications systems or any other aspect of its
business relationship relating to a Service in a manner that prevents the Providing Party from providing such Service as required hereunder (in the understanding that the Receiving Party shall provide
the Providing Party with five (5) Business Days prior notice of any such election), or (B) fails to acquire the hardware, software, information systems or other materials or third party
services reasonably necessary for the Separation
of any Service pursuant to Section 6(e) of this Agreement and such failure prevents the Providing Party from providing such Service as required hereunder, then, in each case, the Providing
Party shall have no liability whatsoever with respect to the effectiveness or quality of such Service and, following five (5) Business Days prior written notice to the Receiving Party, shall be
excused from the performance of such Service; 

        (ii)   if
the Tronox Group is unable, despite the reasonable assistance of the Parent Group in accordance with Section 6(b) of this Agreement and the good faith
cooperation of the Parent Group in accordance with Section 7(a) of this Agreement, to secure the agreement of third parties with whom Parent Group has outsourced certain Services to provide
such Services to the Tronox Group, the Parent Group shall have no liability whatsoever with respect to the effectiveness or quality of any Service that is prevented, hindered, or delayed thereby and,
following five (5) Business Days prior written notice to the Receiving Party, shall be excused from the performance of such Service; and 

        (iii)  if
the Tronox Group is unable, despite the good faith cooperation of the Parent Group in accordance with Sections 6(c) and 7(a) of this Agreement, to obtain any
required transfer or assignment agreements or any other agreements necessary to transfer contractual rights of the Parent Group, that existed immediately prior to the Closing Date, the Parent Group
shall have no liability whatsoever with respect to the effectiveness or quality of any Service that is prevented, hindered, or delayed thereby and, following five (5) Business Days prior
written notice to the Receiving Party, shall be excused from the performance of such Service; and 

        (iv)  the
Parent Group may suspend performance and the Tronox Group's access to information technology or communications systems used by the Parent Group if, in the Parent
Group's reasonable judgment, the integrity, security or performance of such systems, or any data stored thereon, is being 

6

 

or
is likely to be jeopardized by the activities of any member of the Tronox Group, its employees, agents, representatives or contractors. 

        Section 9.    Payment and Audit Rights.    

        (a)   Generally.    In
consideration of each Service provided hereunder, starting 30 days after the Closing and every month
thereafter during the Term of this Agreement, the Receiving Party shall pay the Providing Party, on a monthly basis, an amount equal to the Service Costs attributable to the Services provided by the
Providing Party during the prior month period; provided, however, that the first invoice for Services
Costs shall be rendered 60 days after the Closing Date for the immediately prior 30-day period, such that the Receiving Party shall not pay any Service Costs for Services rendered
during the first 30 days after the Closing Date. Upon a material reduction in the Services to be provided to the Receiving Party by the Providing Party (through Separation), such payment
amounts shall be commensurately reduced. With respect to any particular Service, if any, requiring additional payment by the Receiving Party, the Receiving Party shall pay the Providing Party in
accordance with the specifications set forth on the exhibit describing such Service. To the extent that during the Term of this Agreement the parties mutually agree to modify, amend, delete or add to
the Services, the parties shall cooperate to determine in good faith an equitable adjustment to the amounts paid by the Receiving Party to the Providing Party. 

        (b)   Invoices.    With
respect to the Services actually provided, the Providing Party shall invoice the Receiving Party on a monthly
basis for all amounts due the Providing Party hereunder with respect to such Services. For the avoidance of doubt, it is hereby understood that, unless mutually agreed in writing amongst the parties
hereto, amounts due hereunder shall consist solely of Service Costs. Such invoices shall be accompanied by a reasonable accounting of all invoiced amounts, all third party invoices and receipts
related to such invoiced amounts and such other supporting documentation as may be reasonably requested by the Receiving Party. 

        (c)   Payment.    Each
party shall pay the other party for any properly invoiced amounts within 30 days of receipt of the invoice
and other information required by Section 9(b); provided, however, that if such paying party shall have a bona fide dispute with the amount
invoiced, then such paying party shall pay only the undisputed amount at such time and the parties shall seek to resolve such dispute in accordance with Section 7 of this Agreement. All
payments hereunder shall be made by deposit of United States Dollars in the requisite amount to such bank account as the party receiving such payment may from time to time designate by notice to the
paying party. Late payments of undisputed amounts shall bear interest at the published LIBOR Rate plus 2% per annum. 

        (d)   Audit
Rights.    With respect to a particular Service, the Receiving Party shall have the right to audit the financial and other
records of the Providing Party and any member of the Providing Party's Group related to the provision of such Service, the systems and undertakings (including testing protocols) used to provide such
Service and the incurrence of Transition Costs; provided, however, that such right to audit shall exist
only for so long as such financial or other records are retained by the Providing Party under its records retention policies or practices; provided, further,
that such financial and other records shall be retained for a minimum of two years after the termination of this Agreement. If any such audit reveals any excess amounts paid by
the Receiving Party, the Providing Party shall, promptly after receipt of the results of such audit, (a) pay to the Receiving Party any such excess amounts, with interest from the date of
payment due at the published LIBOR Rate plus 2% per annum, and (b) if such excess amounts represent more than 2% of the total amount actually owed under this Agreement with respect to such
Service, reimburse the Receiving Party for the reasonable out-of-pocket cost of such audit. 

        (e)   Taxes.    Any
taxes (other than Transfer Taxes) assessed on the provision of any Service hereunder shall be included in the
Service Costs of such Services. 

7

 

        Section 10.    Confidentiality.    

        (a)   With
respect to any Service, the Receiving Party with respect thereto agrees that (i) all software, hardware or data store, procedures and materials provided to
such Receiving Party by or on behalf of the Providing Party in connection with such Service are solely for the use of the Receiving Party and members of its Group solely for purposes of using such
Services during the Term (provided that benefits received by third parties in the ordinary course of business conducted with a Receiving Party shall not be subject to this
Section 10); (ii) title to any software, hardware or data store or any other intellectual property or proprietary right of any kind used in performing such
Service shall, as between such Receiving Party and the Providing Party, remain in the Providing Party; (iii) such Receiving Party shall not copy, modify, reverse engineer, decompile, distribute
or in any way alter or make derivative works of any software, hardware or data store used in performing such Service without the Providing Party's prior written consent, and (iv) such Receiving
Party shall comply with any and all usage guidelines pertaining to any Service and provided by or on behalf of a Providing Party, including without limitation, any and all usage guidelines pertaining
to software, data, or other intellectual property or proprietary rights. Notwithstanding the foregoing, (x) the hardware and software licenses set forth in Schedules 2.2(j), 2.2(k) and
2.2(l) shall not be subject to this Section 10(a) (and the Tronox Group shall be solely responsible for complying with all terms and conditions applicable to such hardware and software
licenses) and (y) any software, hardware, data store, procedures or materials purchased for the Receiving Party pursuant to Section 3(b) of this Agreement in connection with the
Separation of a Service or the independent functionality of the Receiving Party, and any assets acquired or purchased by a Receiving Party for its own account, shall not be subject to this
Section 10(a). 

        (b)   Each
party shall use the other party's data solely to exercise its rights or perform its obligations, as applicable, under this Agreement. No party shall sell, assign,
lease, disseminate or otherwise dispose of any of the other party's data received or accessed as a consequence of the receipt or performance of Services pursuant to this Agreement. No party shall
possess or assert any property interest in, or any lien, security interest or other right against or to, any of the other party's data, and each party shall afford to the other party's data the same
level of security that is afforded to its own data. Nothing in this Agreement or in the performance or use of the Services hereunder shall be deemed to transfer, assign or otherwise convey any rights,
title or interests in or to any intellectual property or proprietary rights of one party to the other party; provided, however, each party shall grant
to the other party a non-exclusive, limited purpose, non-transferable, non-assignable, non-sublicenseable license to any intellectual property set forth
in Schedule 2.2(m) of Exhibit A and any software interfaces owned exclusively and developed in-house by the Providing Party and used to provide
Services hereunder (collectively, the "Licensed Intellectual Property"), to the extent such intellectual property license is necessary, in the case of a
Receiving Party, to utilize the Services in accordance with this Agreement, and in the case of a Providing Party, such license is necessary to perform its obligations under this Agreement, which
license shall terminate on the earlier of the date (x) the party granting such license shall no longer have the right to license such Licensed Intellectual Property as contemplated herein, and
(y) the recipient of such license ceases to use such Licensed Intellectual Property in connection with the Services described in this Agreement in the manner expressly contemplated and
described in this Agreement. Each party expressly reserves all rights, title and interests in and to its intellectual property that are not licensed in accordance with this Agreement. Each party shall
not possess or assert any interest in or any lien or security interest or other right against or to any of the other party's intellectual property beyond any licenses granted pursuant to this
Agreement. Notwithstanding any other provision of this Agreement, each party shall be free to use for itself and for others, in any manner, the general knowledge, skill or experience acquired by that
party in the course of the performance of this Agreement, including using that knowledge for any present or future customer or other business partner. 

        (c)   The
parties hereto acknowledge that, pursuant to the mutual provision of Services or as a result of the transfer of certain business operations and assets (including
information technology, software and 

8

 

hardware)
contemplated by the Master Separation Agreement, each Group shall possess or have access (intentionally or inadvertently) to information that belongs to the other Group or has commercial
value in that other Group's business, and is not in the public domain, including information relating to its customers, suppliers, finances, operations, facilities and markets
("Confidential Information"). Neither Group shall disclose, use, sell, assign, lease or otherwise dispose of the other Group's Confidential Information,
except as otherwise expressly permitted by this Agreement or the Master Separation Agreement. A Providing Party hereunder shall not, and shall use its commercially reasonable efforts to ensure that
Providing Party's employees, contractors and other agents do not use the Services to access any of a Receiving Party's Confidential Information that is outside the scope of the Service provided.
Nothing in this Section 10(c) shall be construed as obligating any party hereto to disclose its Confidential Information to any other party, or as granting to or conferring on another party,
expressly or by implication, any rights or license to its Confidential Information, provided that the parties acknowledge that, in order to perform the Services, a Providing Party shall have custody
of and usage of certain of a respective Receiving Party's Confidential Information and each party hereby grants to each other party acting as a Providing Party to it the right to do so in accordance
with this Agreement. 

        (d)   Notwithstanding
Section 10(c), Information is not Confidential Information to the extent that: (i) the Information is or becomes publicly available through
no fault of the party which received the Information from the other party, (ii) the same Information is rightfully in the possession of a party prior to receipt of that Information from another
party; provided, however that Tronox Group Information or data that is in the Parent Group's possession prior to the Closing Date and is otherwise
Confidential Information of the Tronox Group shall be Confidential Information, (iii) the same Information is independently developed (without the use of another party's Confidential
Information) by the party which received that information from such other party, or (iv) the same Information becomes available to a party on a non-confidential basis from a source
other than another party hereto, which source, to the knowledge of the disclosing party, is not prohibited from disclosing that information by a legal, contractual or fiduciary obligations to the
party about whom such Information pertains. 

        (e)   Notwithstanding
Section 10(c), a party hereto shall not have violated the terms of this Section 10 for disclosing Confidential Information: 

        (i)    to
third parties performing services required under this Agreement where (A) use of that Confidential Information by that third party is authorized under this
Agreement; or (B) disclosure is reasonably necessary or typically occurs in the natural course of the third party's duties; provided, in each
case, that the third party has executed a written confidentiality agreement under which the third party is obligated to maintain the confidentiality of
the Confidential Information in a manner substantially equivalent to this Agreement; 

        (ii)   in
order to comply with any applicable Laws, provided that as soon as practicable and legally permitted the disclosing
party shall notify the party whose Confidential Information was or is to be disclosed of the disclosure or possible disclosure under this subsection; or 

        (iii)  to
the disclosing party's independent auditors under an obligation of confidentiality. 

        Section 11.    Term.    

        (a)   The
term of this Agreement (the "Term") shall commence on the date hereof, and, unless earlier terminated in accordance
with Section 11(b), shall continue until the first anniversary of the Closing Date. This agreement may only be extended by written agreement of the parties as evidenced by the signature of
authorized representatives of such parties. 

        (b)   Notwithstanding
the foregoing, the commencement dates and, if sooner than the first anniversary of the Closing Date, the termination dates of any Service shall be as set
forth in the applicable exhibit; provided, however, that where such dates are not specified in the exhibits, the term of a Service shall 

9

 

coincide
with the term of this Agreement; provided, further, that the Receiving Party with respect to any Service may terminate the term of such Service
upon thirty (30) days notice to the Providing Party. 

        (c)   Notwithstanding
anything to the contrary set forth in this Agreement, if any party hereto defaults in any of its material obligations with respect to a Service
hereunder, and such default is not cured within 30 days after the resolution, pursuant to Section 7, of a dispute entered as a result of such default, the party not in default shall be
entitled, without prejudice to any of its other rights conferred on it by this Agreement, and in addition to any other remedies available to it by law or in equity, to terminate its obligations with
respect to such Service. 

        Section 12.    Consequences of Termination.    

        (a)   Termination
or expiration of this Agreement for any reason shall be without prejudice to any rights that shall have accrued to the benefit of a party prior to such
termination or expiration. Such termination, relinquishment, or expiration shall not relieve a party from obligations that are expressly indicated to survive the termination or expiration of this
Agreement. 

        (b)   Upon
termination or expiration of this Agreement, each party, at the request of the other, shall return all relevant records and materials in its possession or control
containing or comprising the other party's Information and to which the returning party does not retain rights hereunder (except one copy of which may be retained in such files for archival purposes). 

        Section 13.    Disclaimer of Warranties.    EACH PARTY EXPRESSLY DISCLAIMS ALL
WARRANTIES, EXPRESS, STATUTORY AND IMPLIED, INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, NON-INFRINGEMENT, QUIET ENJOYMENT, NO
ENCUMBRANCES, SYSTEM INTEGRATION, ACCURACY, WORKMANLIKE EFFORT AND WARRANTIES ARISING THROUGH COURSE OF DEALING OR USAGE OF TRADE. NEITHER PARTY MAKES ANY REPRESENTATIONS OR WARRANTIES AS TO THE
QUALITY, SUITABILITY, AVAILABILITY, RELIABILITY, SECURITY, PERFORMANCE OR ADEQUACY OF THE SERVICES. 

        Section 14.    Damages.    NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED
HEREIN, EXCEPT AS EXPRESSLY SET FORTH HEREIN, NO PARTY HERETO SHALL BE
LIABLE TO ANY OTHER PARTY HERETO (INCLUDING ITS RESPECTIVE HEIRS, LEGAL REPRESENTATIVES, SUCCESSORS OR ASSIGNS, AS THE CASE MAY BE, HEREUNDER) FOR ANY LOSSES THAT ARE NOT REASONABLY FORESEEABLE OR ANY
DAMAGES FOR THE LOSS OF PROFITS, BUSINESS, ANTICIPATED SAVINGS, GOODWILL, OR THE LOSS OF OR DAMAGE TO DATA OR ANY OTHER INCIDENTAL, CONSEQUENTIAL, SPECIAL OR PUNITIVE DAMAGES ARISING OUT OF THIS
AGREEMENT OR ITS TERMINATION OR ANY TRANSACTION CONTEMPLATED BY THIS AGREEMENT, WHETHER FOR BREACH OF REPRESENTATION OR WARRANTY OR COVENANT OR OTHER AGREEMENT OR ANY OBLIGATION ARISING THEREFROM OR
OTHERWISE, WHETHER LIABILITY IS ASSERTED IN CONTRACT OR TORT (INCLUDING GROSS NEGLIGENCE, NEGLIGENCE AND STRICT PRODUCT LIABILITY) AND REGARDLESS OF WHETHER SUCH PARTY HAS BEEN ADVISED OF THE
POSSIBILITY OF ANY SUCH LOSS OR DAMAGE. EACH PARTY HERETO HEREBY WAIVES ANY CLAIMS THAT THESE EXCLUSIONS DEPRIVE SUCH PARTY OF AN ADEQUATE REMEDY. 

        Section 15.    Indemnification.    The Providing Party with respect to a
particular Service shall not have any liability to the Receiving Party with respect thereto for the furnishing of or failure to furnish such Service hereunder, including for Liabilities arising out of
the gross negligence or willful misconduct of the Providing Party or a member of its Group. The Receiving Party shall indemnify, defend and hold harmless the Providing Party and each of its Affiliates
and each of their respective officers, directors, employees, 

10

 

stockholders,
agents and representatives (each an "Indemnitee") in respect of all Liabilities related to, arising from, asserted against or associated
with any Service. 

        Section 16.    Subrogation.    If any liability arises from the performance of any
Service hereunder by a third party contractor, the Receiving Party with respect to such Service shall be subrogated to such rights, if any, as the Providing Party may have against such third party
contractor. 

        Section 17.    Counterparts; Entire Agreement.    

        (a)   This
Agreement may be executed in one or more counterparts, all of which shall be considered one and the same agreement, and shall become effective when one or more
counterparts have been signed by each of the parties and delivered to the other party. 

        (b)   This
Agreement, and the exhibits and schedules hereto, contain the entire agreement between the parties with respect to the subject matter hereof, supersede all previous
agreements, negotiations, discussions, writings, understandings, commitments and conversations with respect to such subject matter and there are no agreements or understandings between the parties
other than those set forth or referred to herein or therein. 

        Section 18.    Governing Law; Jurisdiction; Jury Trial Waiver.    

        (a)   This
Agreement shall be governed by, and construed in accordance with, the laws of the State of New York without giving effect to principles of conflicts of laws
thereof. 

        (b)   Each
of the parties hereto (i) consents to submit itself to the personal jurisdiction of the United States District Court for the Southern District of New York or
the Supreme Court of The State of New York, New York County in the event any dispute arises out of this Agreement or any of the transactions contemplated hereby, (ii) agrees that it will not
attempt to deny or defeat such personal jurisdiction by motion or other request for leave from any such court, and (iii) agrees that it will not bring any action relating to this agreement or
any of the transactions contemplated hereby in any court other than the United States District Court for the Southern District of New York or the Supreme Court of the State of New York, New York
County. 

        (c)   EACH
OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR BY THE
TRANSACTIONS CONTEMPLATED HEREBY. 

        Section 19.    Assignability.    This Agreement shall be binding upon and inure to
the benefit of the parties hereto, and their respective successors and permitted assigns; provided,  however, that, without prejudice to the provisions of
Section 6 of this Agreement, no party hereto may assign its respective rights or delegate
its respective obligations under this Agreement without the express prior written consent of the other parties hereto, except that any party may assign any of its rights or obligations under this
Agreement to any member of its Group without the prior written consent of the other party. 

        Section 20.    Third Party Beneficiaries.    

        (a)   Except
for the indemnification rights under this Agreement of any Indemnitee in its capacity as such, (a) the provisions of this Agreement are solely for the
benefit of the parties hereto and are not intended to confer upon any other any rights or remedies hereunder and (b) there are no third party beneficiaries of this Agreement and this shall not
provide any third person with any remedy, claim, liability, reimbursement, claim of action or other right in excess of those existing without reference to this Agreement. 

        (b)   Unless
otherwise expressly provided herein (other than in the ordinary course of business of the Receiving Party), (i) each Service shall be provided solely for
the benefit of the applicable Receiving Party and members of its Group and (ii) no party may sell, transfer, assign or otherwise use the Services provided 

11

 

to
it hereunder or its right to receive such Services, in whole or in part, for the benefit of any Person other than a member of its Group. 

        Section 21.    Notices.    All notices or other communications under this
Agreement shall be in writing (including by telecopy) and shall be deemed to be duly given or made when delivered, or, in the case of telecopy, when received, addressed as follows or to such other
address as may be hereafter notified by the respective party: 

	To Parent or any member of the Parent Group:	 	Kerr-McGee Corporation

Kerr-McGee Worldwide Corporation

Kerr-McGee Center

123 Robert S. Kerr Avenue

Oklahoma City, Oklahoma 73102

Facsimile:    405-270-3649

Attention:    General Counsel
	
with a copy to:	
 	

Covington & Burling

1330 Avenue of the Americas

New York, New York 10019

Facsimile:    212-841-1010

Attention:    Scott F. Smith
	

To Tronox or any member of the Tronox Group:	
 	

Tronox Incorporated

123 Robert S. Kerr Avenue

Oklahoma City, Oklahoma 73102

Facsimile:    [  ]

Attention:    Chief Executive Officer
	
with a copy to:	
 	

Tronox Incorporated

23 Robert S. Kerr Avenue

Oklahoma City, Oklahoma 73102

Facsimile:    [                        ]

Attention:    General Counsel

        Section 22.    Independent Contractor.    At all times during the term of this
Agreement, the Providing Party shall be an independent contractor in providing the Services hereunder with the sole right to supervise, manage, operate, control and direct the performance of the
Services and the sole obligation to employ, compensate and manage its employees and business affairs. Nothing contained in this Agreement shall be deemed or construed to create a partnership or joint
venture, to create the relationships of employee/employer or principal/agent, or otherwise create any liability whatsoever of any party with respect to the indebtedness, Liabilities, obligations or
actions of the other party or any of its respective officers, directors, employees, stockholders, agents or representatives, or any other person or entity. 

        Section 23.    Severability.    If any provision of this Agreement or the
application thereof to any Person or circumstance is determined by a court of competent jurisdiction to be invalid, void or unenforceable, the remaining provisions hereof, or the application of such
provision to Persons or circumstances or in jurisdictions other than those as to which it has been held invalid or unenforceable, shall remain in full force and effect and shall in no way be affected,
impaired or invalidated thereby, so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner adverse to any party. Upon such determination, the
parties shall negotiate in good faith in an effort to agree upon such a suitable and equitable provision to effect the original intent of the parties. 

12

 

        Section 24.    Force Majeure.    The Providing Party shall not be in default
hereunder by reason of any failure or delay in the performance of its obligations hereunder where such failure or delay is due to any cause beyond its control, including strikes, labor disputes, civil
disturbances, riot, rebellion, invasion, epidemic, hostilities, war, embargo, natural disaster, acts of God, flood, fire, sabotage, accident, delay in transportation, loss and destruction of property,
intervention by Governmental Authorities, change in laws, regulations or orders, other events or any other circumstances or causes beyond the Providing Party's control. In the event that any Providing
Party reasonably expects a failure or delay in the performance of its obligations hereunder, such Providing Party shall promptly notify the Receiving Party of such expectation and shall set forth in
such notice, if practicable, such Providing Party's reasonable estimate of the nature, extent and duration of such expected failure or delay. Notwithstanding anything to the contrary contained herein,
any Providing Party that experiences any shortage, interruption, delay inadequacy or limitation in the availability of any of the Services (by reason of force majeure or otherwise) and is unable to
fulfill the Receiving Party's requirements for those Services shall ensure that the Receiving Party is treated no less favorably than any member of the Providing Party's Group in the allocation by the
Providing Party between such Group members and the Receiving Party of such affected Services. 

        Section 25.    Headings.    The article, section and paragraph headings contained
in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. 

        Section 26.    Survival.    The provisions of Sections 9, 10 (other than
the licenses granted thereunder), as well as the related provisions of Sections 12 through 28, shall survive the expiration or earlier termination of this Agreement for any reason whatsoever. 

        Section 27.    Amendments.    No provisions of this Agreement shall be deemed
waived, amended, supplemented or modified by any party, unless such waiver, amendment, supplement or modification is in writing and signed by the authorized representative of the party against whom it
is sought to enforce such waiver, amendment, supplement or modification. 

        Section 28.    Interpretation.    Words in the singular shall be held to include
the plural and vice versa and words of one gender shall be held to include the other genders as the context requires. The terms "hereof", "herein", and "herewith" and words of similar import shall,
unless otherwise stated, be construed to refer to this Agreement as a whole (including all of the Schedules and Exhibits hereto) and not to any particular provision of this Agreement. Article,
Section, Exhibit and Schedule references are to the Articles, Sections, Exhibits and Schedules to this Agreement unless otherwise specified. The word "including" and words of similar import
when used in this Agreement shall mean "including, without limitation," unless the context otherwise requires or unless otherwise specified. The word "or" shall not be exclusive. 

13

        IN
WITNESS WHEREOF, each of the parties has caused this Agreement to be duly executed and delivered as of the day and year first above written. 

	 	 	KERR-MCGEE CORPORATION
	

 	
 	

By:	

 
	 	 	 	

	 	 	Name:

Title:
	

 	
 	

KERR-MCGEE WORLDWIDE CORPORATION
	

 	
 	

By:	

 
	 	 	 	

	 	 	Name:

Title:
	

 	
 	

TRONOX INCORPORATED
	

 	
 	

By:	

 
	 	 	 	

	 	 	Name:

Title:
	    	 	 	 

   EXHIBIT A  

 Services Provided by Parent Group to Tronox Group  

	1.
	Accounting and Finance Matters

	1.1
	Accounts Payable

	1.1.1
	Start Date.    Beginning on the Closing Date, Parent Group shall use commercially reasonable
efforts to provide information technology systems hosting services in respect of accounts payable functions.

	1.1.2
	End Date.    Parent Group's obligations pursuant to this Section 1.1 shall continue
until the earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

	1.1.3
	Systems.    For the purposes of this Section 1.1, Parent Group shall share and permit
access to its systems and data and shall provide the Tronox Group with information and processing promptly and in conformance with the standards set forth in the Agreement.

 

	1.2
	Credit Accounting

	1.2.1
	Start Date.    Beginning on the Closing Date and subject to the terms and conditions of this
Agreement, Parent Group shall use commercially reasonable efforts to transfer to the Tronox Group the Dun & Bradstreet credit analysis system.

	1.2.2
	End Date.    Parent Group's obligations pursuant to this Section 1.2 shall continue
until the earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

	1.2.3
	Services.    Subject to provisions of applicable law and contracts, Parent Group shall provide
to the Tronox Group a full listing of customer accounts, approved credit limits and relevant Parent Group files and documentation related to the business credit function of the Tronox Group.

 

	1.3
	Payroll / Employee Benefits / Human Resources

	1.3.1
	Start Date.    Beginning on the Closing Date, Parent Group shall use commercially reasonable
efforts to assist the Tronox Group with respect to general accounting services with respect to payroll and employee benefits matters.

	1.3.2
	End Date.    Parent Group's obligations pursuant to this Section 1.3 shall continue
until the earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

	1.3.3
	Services.    Subject to the terms and conditions of the Agreement, Parent Group's services
provided pursuant to this Section 1.3 shall include the following:

	(a)
	Parent
Group shall share with the Tronox Group systems implemented and in production for the Tronox Group as of the Closing Date.

	(b)
	Payroll
administration

	(c)
	Benefits
administration

 

	1.4
	General Accounting

	1.4.1
	Start Date.    Beginning on the Closing Date, Parent Group shall use commercially reasonable
efforts to assist the Tronox Group with respect to general accounting services, including general accounting services necessary for Tronox Group to comply with its SEC obligations. 

A-1

 

	1.4.2
	End Date.    Parent Group's obligations pursuant to this Section 1.4 shall continue
until the earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

	1.4.3
	Services.    Subject to the terms and conditions of this Agreement, beginning on the Closing
Date, Parent Group shall make reasonably available its general accounting personnel for consultation on matters relating to or affecting the Tronox Group or any of its members and on which such
personnel have relevant familiarity or expertise and provide information technology hosting in respect of general accounting matters.

 

	1.5
	Tax Matters Relating to Employee Benefit Plans, Ad Valorem and other Tax Items

	1.5.1
	Start Date.    Beginning on the Closing Date, Parent Group shall cooperate with the Tronox
Group in obtaining tax compliance for the Tronox Group.

	1.5.2
	End Date.    Parent Group's obligations pursuant to this Section 1.5 shall continue
until the earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

	1.5.3
	Services.    Subject to the terms and conditions of the Agreement, Parent Group shall provide
the following services and assistance to the Tronox Group:

	(a)
	Access
to information regarding legacy plans, including any savings plans worldwide, employees and the tax and accounting treatment thereof, including authority to consult with
current and former third-party providers in connection with such information.

	(b)
	Preparation
of W-2 information for employees of the Tronox Group with respect to the period prior to Closing if requested.

	(c)
	Consultation
and access to Parent Group's current and former internal and third-party providers in connection with Plans and employees.

	(d)
	Assistance
with, and access to records in connection with, ad valorem tax matters. Assistance in the collection and transfer of related historical data to Tronox Group or designated
service provider.

	(e)
	Additional
assistance, and access to records, in regard to other tax matters pursuant to historical practices.

 

	1.6
	Internal Audit Matters

	1.6.1
	Start Date.    Beginning on the Closing Date, Parent Group shall use commercially reasonable
efforts to assist the Tronox Group with respect to internal audit matters.

	1.6.2
	End Date.    Parent Group's obligations pursuant to this Section 1.6 shall continue
until the earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

	1.6.3
	Services.    Subject to the terms and conditions of the Agreement, Parent Group shall permit
access to information systems with respect to retained properties as necessary for the completion of the auditing activities subject of this Section 1.6 and to personnel for consultation with
respect to such matters and Parent Group shall permit the use of its systems for the collection, processing and reporting of such audits.

 

	1.7
	Access to Accounts, Bank Systems and Funds

	1.7.1
	Start Date.    Beginning on the Closing Date, Parent Group shall use commercially reasonable
efforts to assist the Tronox Group with respect to the coordination of transferred accounts and bank systems. 

A-2

 

	1.7.2
	End Date.    Parent Group's obligations pursuant to this Section 1.7 shall continue
until the earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

	1.7.3
	Services.    Subject to the terms and conditions of the Agreement, Parent Group's services
provided pursuant to this Section 1.7 shall include the following:

	(a)
	Parent
Group shall cooperate with the Tronox Group in facilitating access to information and transactions involving bank accounts and bank systems transferred, or intended to be
transferred, to the Tronox Group pursuant to the transactions contemplated by the Master Separation Agreement or containing or receiving funds so transferred to the Tronox Group or otherwise belonging
to the Tronox Group.

	(b)
	Parent
Group shall permit the Tronox Group access to information regarding accounts of Parent Group limited to transactions therein which involve funds relating to the Tronox Group
whether prior to, or after, the Closing.

	(c)
	If
an account is used by both the Tronox Group and the Parent Group as of the date hereof, a new bank account shall be created for the benefit of, and in the name of, the Tronox
Group, or certain of its members, as applicable. Such accounts shall replicate the accounts in use by the Tronox Group as of the Closing Date. If any such accounts are created after the Closing, funds
attributable to the Tronox Group in accounts which are being replicated shall be transferred to such new accounts upon the establishment of such new accounts.

	(d)
	Prior
to the closing, Parent Group shall facilitate the preparation of appropriate account or bank system transfer documentation, such transfers to be effective as of the Closing Date
or as soon as practicable thereafter. Subsequent to the Closing Date, Parent Group shall make its personnel available for consultation and shall execute documents or assign authority to the Tronox
Group where necessary to allow the Tronox Group to complete any account or bank system transfers.

 

	1.8
	Stray Funds

	1.8.1
	Start Date.    Beginning on the Closing Date, Parent Group shall use commercially reasonable
efforts to assist the Tronox Group in the directing of funds intended to be remitted to the Tronox Group.

	1.8.2
	Services.    In the event that remittances received into Parent Group bank accounts relate to
sales or services provided by the Tronox Group (or otherwise intended for the Tronox Group), Parent Group shall promptly segregate such remittance amounts and whenever the balance of such amounts
exceeds $100,000 or once a week, whichever occurs first, Parent Group shall remit by wire transfer the balance collected on behalf of the Tronox Group to the Tronox Group.

 

	1.9
	Migration of Fleet Rental Services

	1.9.1
	Start Date.    Beginning on the date hereof, Parent Group shall use commercially reasonable
efforts to cause (or assist, as applicable) the Tronox Group to have Separation with respect to the fleet rental services available to the Tronox Group as of the date hereof (the  "Fleet Rental Services").

	1.9.2
	End Date.    Parent Group shall use commercially reasonable efforts to complete the Services
set forth in this Section 1.9 within 180 days after the Closing Date; provided Parent Group's obligations pursuant to this
Section 1.9 shall continue until the earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement. 

A-3

 

	1.9.3
	Services.    Parent Group's services provided pursuant to this Section 1.9 shall
include the following:

	(a)
	Establishment
of a separate account, or accounts, for the Tronox Group with respect to the Fleet Rental Services.

	(b)
	Provide
surety, guarantee, or other credit support or assurance for the Tronox Group's obligations pursuant to the Fleet Rental Services as, and for such time, as reasonably required
by the Fleet Rental Services' service providers.

 

	1.10
	Fleet Rental Services

	1.10.1
	Start Date.    Beginning on the Closing Date, Parent Group shall provide fleet rental
services to the Tronox Group.

	1.10.2
	End Date.    Parent Group shall use commercially reasonable efforts to complete the Services
set forth in this Section 1.10 within 180 days after the Closing Date; provided Parent Group's obligations pursuant to this
Section 1.10 shall continue until the earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

	1.10.3
	Services.    Parent Group shall permit the use by Tronox Group personnel of Parent Group's
fleet rental services as existing and under the terms applicable as of the date hereof. Parent Group shall process the charges and use of such fleet rental services and shall present to the Tronox
Group an accounting of any charges made on behalf of the Tronox Group after the Closing Date for reimbursement thereof.

	1.10.4
	Applicable Service Costs.    Reimbursement amounts, as set forth in Section 1.10.3,
shall be included, without duplication, in Service Costs.

 

	1.11
	Migration of American Express Travel Charge Cards and Travel Service

	1.11.1
	Start Date.    Beginning on the date hereof, Parent Group shall use commercially reasonable
efforts to cause (or assist, as applicable) the Tronox Group to have Separation with respect to the American Express Travel Charge Card services and American Express Travel services (together, the  "AMEX
Services") available to the Tronox Group as of the date hereof.

	1.11.2
	End Date.    Parent Group shall use commercially reasonable efforts to complete the Services
set forth in this Section 1.11 within 180 days after the Closing Date; provided Parent Group's obligations pursuant to this
Section 1.11 shall continue until the earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

	1.11.3
	Services.    Parent Group's services provided pursuant to this Section 1.11 shall
include the following:

	(a)
	Establishment
of a separate account, or accounts, for the Tronox Group with respect to the AMEX Services.

	(b)
	Provide
surety, guarantee, or other credit support or assurance for the Tronox Group's obligations pursuant to the AMEX Services as, and for such time, as reasonably required by the
AMEX Services' service providers.

 

	1.12
	Travel and Entertainment Expense Reporting

	1.12.1
	Start Date.    Beginning on the Closing Date, Parent Group shall use commercially reasonable
efforts to provide travel and entertainment expense reporting and processing services to the Tronox Group. 

A-4

 

	1.12.2
	End Date.    Parent Group shall use commercially reasonable efforts to complete the Services
set forth in this Section 1.12 within 180 days after the Closing Date; provided Parent Group's obligations pursuant to this
Section 1.12 shall continue until the earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

	1.12.3
	Services.    Parent Group's services provided pursuant to this Section 1.12 shall
include the following:

	(a)
	Parent
Group shall permit the use by Tronox Group personnel of American Express travel charge cards and American Express Travel services under the terms applicable as of the date
hereof.

	(b)
	Parent
Group shall process the charges and use of such cards and services and shall present to the Tronox Group an accounting of any charges for payment made on behalf of the Tronox
Group after the Closing Date until Separation for reimbursement thereof.

	1.12.4
	Applicable Service Cost.    Reimbursement amounts, as set forth in Section 1.12.3(b),
shall be included, without duplication, in Service Costs.

 

	1.13
	Migration of Procurement Card Services

	1.13.1
	Start Date.    Beginning on the date hereof, Parent Group shall use commercially reasonable
efforts to cause (or assist, as applicable) the Tronox Group to have Separation with respect to the procurement card services available to the Tronox Group as of the date hereof (the  "Procurement Card Services").

	1.13.2
	End Date.    Parent Group shall use commercially reasonable efforts to complete the Services
set forth in this Section 1.13 within 180 days after the Closing Date; provided Parent Group's obligations pursuant to this
Section 1.13 shall continue until the earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

	1.13.3
	Services.    Parent Group's services provided pursuant to this Section 1.13 shall
include, without limitation, the following:

	(a)
	Establishment
of a separate account, or accounts, for the Tronox Group with respect to the Procurement Card Services.

	(b)
	Provide
surety, guarantee, or other credit support or assurance for the Tronox Group's obligations pursuant to the Procurement Card Services as, and for such time, as reasonably
required by the Procurement Card Services' service providers.

 

	1.14
	Procurement Card Management

	1.14.1
	Start Date.    Beginning on the Closing Date, Parent Group shall use commercially reasonable
efforts to provide procurement card reporting and processing services to the Tronox Group.

	1.14.2
	End Date.    Parent Group shall use commercially reasonable efforts to complete the Services
set forth in this Section 1.14 within 180 days after the Closing Date; provided Parent Group's obligations pursuant to this
Section 1.14 shall continue until the earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

	1.14.3
	Services.    Parent Group's services to be provided to the Tronox Group pursuant to this
Section 1.14 shall include, without limitation:

	(a)
	Parent
Group shall permit the use by Tronox Group personnel of procurement charge cards under the terms applicable as of the date hereof. 

A-5

 

	(b)
	Parent
Group shall process the charges and use of such cards and shall present to the Tronox Group an accounting of any charges made on behalf of the Tronox Group after the Closing
Date for reimbursement thereof.

	1.14.4
	Applicable Service Cost.    Reimbursement amounts, as set forth in Section 1.14.3(b),
shall be included, without duplication, in Service Costs.

 

	1.15
	Forecasting Services

	1.15.1
	Start Date.    Beginning on the Closing Date, Parent Group shall use commercially reasonable
efforts to provide forecasting services (but not budgeting services) with respect to shared costs for IM&T to the Tronox Group.

	1.15.2
	End Date.    Parent Group's obligations pursuant to this Section 1.15 shall continue
until the earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

 

	1.16
	Accounting Testing.    Parent Group and Tronox Group shall use commercially reasonable efforts
to test and demonstrate a full accounting close of the financial books of the Tronox Group consistent with historical practices and reports, including, but not limited to, income statements and
balance sheets. It is understood and agreed that, notwithstanding any provision to the contrary in this Agreement, the Tronox Group shall be exclusively responsible for complying with the requirements
of the Sarbanes Oxley Act of 2002 (including with respect to its testing of internal controls and disclosure controls).

	2.
	Information Management & Technology.

        For
purposes hereof, the following provisions shall be known, collectively, as the "IT Separation Standards" and, unless otherwise
provided herein, shall apply to the provision of all Services described in Section 2 of this Exhibit A: 

	(a)
	Start
Date.    On or prior to the Closing Date, Parent Group shall commence commercially reasonable efforts to segregate, install, implement and
provide consulting services for transferred software and applications set forth in Schedule 2.2(j) (including hardware, enterprise software and required applications, each an
"IT System"), in each case if and to the extent owned by the Parent Group and utilized by Tronox Group in its global production environment, as of the
date hereof.

	(b)
	End
Date.    Parent Group's obligation pursuant to Section 2 of this Exhibit A shall end on the earlier of Separation or the first
anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

	(c)
	Personnel.    In
connection with the Services to be provided pursuant to Section 2 of this Exhibit A, beginning on the Closing
Date, each Group shall make reasonably available for consultation with the other Group those retained employees and consultants or other service providers of such Group as are reasonably necessary for
the provision of such Services.

	(d)
	System
Test.    Parent Group and Tronox Group shall test each IT System for successful functionality and shall use commercially reasonable
efforts to demonstrate functionality consistent with historical functionality. Such testing shall be conducted by Parent Group and Tronox Group in cooperation with each other and results of such
testing, accompanied by proposed follow-up action, shall be shared by the Tronox Group and Parent Group. In the event that such tests and demonstrations are not deemed successful, the
parties' obligations under this paragraph shall continue, and such tests shall be repeated at intervals of not more than 15 days, until such time as such tests are successful. The parties agree
that a test of an IT System shall be deemed successful when such IT System operates, on a stand-alone basis, in a manner consistent 

A-6

 

with
its operation immediately prior to the Closing Date. Once such tests are deemed successful in accordance with the terms of this paragraph, Parent Group's obligations under Section 2 of
this Exhibit A shall terminate. 

	2.1
	Elements of IT System Migration and Replicating.    Subject to the terms and conditions of this
Agreement, the Parent Group shall take the following steps in connection with the migration and replication of each IT System:

	(a)
	Hardware.
Certain servers, terminals, network equipment, data storage systems and additional hardware related to each IT System shall be segregated for the exclusive use of the Tronox
Group and each IT System shall be installed, developed and tested thereon. Such segregated hardware shall be integrated into the other information technology systems that the Parent Group has migrated
and replicated for the Tronox Group in accordance with this Agreement.

	(b)
	Software.
All necessary software shall be installed on the segregated hardware for the complete and independent operation of each IT System.

	(c)
	Data.
All data, reasonably required, subject to the Parent Group's records retention policy, for the operation of each IT System by the Tronox Group, including existing information
with respect to historic operations of the Tronox Group (including historic data and records of all businesses, including prior businesses, and their transaction details).

	(d)
	System
Integration. The Parent Group shall assist the Tronox Group in integrating each IT System with the other IT Systems that Parent Group migrates and replicates for the Tronox
Group in accordance with this Agreement.

	(e)
	System
Modules and Applications. System modules and applications implemented by the Parent Group for the benefit of the Tronox Group shall be migrated to the Tronox Group.

 

	2.2
	Information Technology Systems Migration 

Services.    Beginning
on the Closing Date, Parent Group shall provide the following services in accordance with the IT Separation Standards: 

	(a)
	Deliver
(as necessary), configure and install IT System components as required for Separation pursuant to this Exhibit A.

	(b)
	Jointly
with the Tronox Group, appoint qualified project managers to manage the transition and Separation projects.

	(c)
	Jointly
with the Tronox Group, develop detailed transition plans for infrastructure, applications and business processes.

	(d)
	Load
pertinent shared applications, databases and data onto Tronox Group hardware and prior to loading, conduct appropriate tests jointly with Tronox Group personnel to check whether
such shared applications and data are fully operational in connection with the comparable hardware and software as used in the Tronox Group systems and applications that the Parent Group migrates and
replicates for the Tronox Group in accordance with this Agreement.

	(e)
	Extract
appropriate data out of Parent Group's enterprise systems and other applications in a mutually agreed format for normalization, testing and loading into Tronox Group systems
and applications that the Parent Group migrates and replicates for the Tronox Group in accordance with this Agreement.

	(f)
	Establish
WAN, LAN, and other information technology systems elements to move the Tronox Group from the Parent Group network to the Tronox Group network, retaining access to necessary
applications. 

A-7

 

	(g)
	Transition
Tronox Group master data, open balances and transactional data based upon a mutually agreed plan.

	(h)
	Provide
documentation and any other necessary information related to the information technology systems (including telephone and networking equipment), networks and applications.

	(i)
	Continue
current services, including relevant third-party services, pertaining to cellphone and calling card programs and shall present to the Tronox Group an accounting of any
charges for payment made on behalf of the Tronox Group in connection with such programs after the Closing Date until Separation for reimbursement thereof.

	(j)
	Use
commercially reasonable efforts to transfer to the Tronox Group the software and applications listed on Schedule 2.2(j)
hereto.

	(k)
	Use
commercially reasonable efforts to transfer the information and technology assets listed in Schedule 2.2(k) hereto.

	(l)
	Use
commercially reasonable efforts to transfer the licenses listed in Schedule 2.2(l) hereto.

 

	2.3
	Information Technology Systems Services 

Services:    Beginning
on the Closing Date, Parent Group shall provide the following Services in accordance with the IT Separation Standards. 

	(a)
	Infrastructure
(hardware, software, networks, etc.).

	(b)
	Access
to data, including databases, datawarehouse, reporting system, processing and networking.

	(c)
	Consultation,
maintenance, support and systems administration.

	(d)
	Call-center/help-desk
user support.

	(e)
	Monitoring,
managing, operating and maintaining: (i) Data center, including all servers for data processing and other supporting equipment, (ii) wide area network (WAN),
(iii) local area network (LAN), (iv) telephony infrastructure, (v) web sites, (vi) business-to-business connections, including existing EDI and XML
partners, (viii) legacy application systems, (ix) all other interfaces between internal and external applications and systems, and (xi) chemical datawarehouse and associated
databases.

	(f)
	Reasonable
access to, or reasonable access to data from, the legacy systems, networks and applications for data collection and analysis.

	(g)
	In
a manner consistent with its records retention policy, retain electronic data in its enterprise, accounting and other principal systems and applications relating to the Tronox
Group.

 

	2.4
	Information Technology Security 

Services.    Beginning
on the Closing Date, Parent Group shall provide the following services in accordance with the IT Separation Standards: 

	(a)
	firewall
monitoring, administration, configuration and reporting.

	(b)
	VPN
and remote-access monitoring, administration, configuration management and support.

	(c)
	E-mail
virus protection, spam filtering and attack monitoring, prevention and reporting.

	(d)
	Real-time
monitoring and updating of virus definitions on all hosts and clients (including laptops).

	(e)
	Host
intrusion detection, protection, configuration, maintenance and support.

	(f)
	network
intrusion detection, protection, configuration, maintenance and support. 

A-8

 

	(g)
	Establishment
of systems access protocols.

	(h)
	Computer
incident response.

 

	3.
	Miscellaneous Matters

	3.1
	Legal Matters

	3.1.1
	Start Date.    Beginning on the Closing Date, Parent Group shall make reasonably available its
internal and external legal counsel for consultation on matters relating to or affecting the Tronox Group or any of its members and on which such personnel have relevant familiarity or expertise.

	3.1.2
	End Date.    Parent Group's obligations pursuant to this Section 3.1 shall continue
until the earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

 

	3.2
	Medical Services

	3.2.1
	Start Date.    Beginning on the Closing Date, Parent Group shall make reasonably available its
medical services personnel for consultation on matters relating to or affecting the Tronox Group or any of its members and on which such personnel have relevant familiarity or expertise.

	3.2.2
	End Date.    Parent Group's obligations pursuant to this Section 3.2 shall continue
until the earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

 

	3.3
	Security

	3.3.1
	Start Date.    Beginning on the Closing Date, Parent Group shall make reasonably available its
security personnel for consultation with the Tronox Group.

	3.3.2
	End Date.    Parent Group's obligations pursuant to this Section 3.3 shall continue
until the earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

 

	3.4
	Records Retention

	3.4.1
	Start Date.    Beginning as of the Closing Date, Parent Group shall use commercially
reasonable efforts to retain, organize and store, records relating to the Tronox Group and not transferred to the Tronox Group in a manner consistent with its current document retention policy or
practice. For purposes of this Section 3.4, the term "records" shall include all formats (electronic, film, paper, and otherwise) of such records and shall include shared records not pertaining
exclusively to the Tronox Group.

	3.4.2
	Services.    If and to the extent in existence as of the date hereof and in possession and
control of the Parent Group as of the date hereof and without imposing any obligation on the Parent Group to create any of the documents or records described below and subject to the Parent Group's
document retention policy, Parent Group's services provided pursuant to this Section 3.4 shall include the following:

	(a)
	Parent
Group shall provide the Tronox Group with documentation of records retained by Parent Group and shall provide the Tronox Group with access to records storage facilities
maintained by Parent Group.

	(b)
	Parent
Group shall assist the Tronox Group in the separation of historic records relating to the Tronox Group in respect of the Chemical Business (as defined in the Master Separation
Agreement) and the other legacy businesses of the Tronox Group from the common records of the Parent Group and its affiliates as of the Closing Date, including with respect to the generation of new
records documentation specific to the Tronox Group. 

A-9

 

	(c)
	Parent
Group shall assist the Tronox Group in the identification, documentation, removal and duplication of records pertaining to the Tronox Group.

	(d)
	Parent
Group shall retain records relating to the following matters for the term of the Agreement at which time such records which remain shall be delivered to the Tronox Group, or,
if such records are to be discarded or destroyed pursuant to the practices of the Parent Group, shall deliver such records to the Tronox Group:

	(i)
	Property;

	(ii)
	Tax;

	(iii)
	Environmental
reports and remediation matters;

	(iv)
	Employee
matters; and

	(v)
	Relevant
business documents.

 

	3.4.3
	Personnel.    In connection with the Services to be provided pursuant to this
Section 3.4, beginning on the Closing Date, Parent Group and Tronox Group, as the case may be, shall make reasonably available for consultation with the Tronox Group and the Parent Group, as
the case may be, those retained employees and consultants or other service providers of the Parent Group or the Tronox Group, as the case may be, reasonably necessary for the provision of such
Services.

 

	3.5
	Government Affairs

	3.5.1
	Start Date.    Beginning on the Closing Date, Parent Group shall make reasonably available its
government affairs personnel for consultation on matters relating to or affecting the Tronox Group or any of its members and on which such personnel have relevant familiarity or expertise.

	3.5.2
	End Date.    Services provided pursuant to this Section 3.5 shall be provided until the
earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

 

	3.6
	Communications and Community Affairs

	3.6.1
	Start Date.    Beginning on the Closing Date, Parent Group shall make reasonably available its
communications and community affairs personnel for consultation with the Tronox Group.

	3.6.2
	End Date.    Parent Group's obligations pursuant to this Section 3.6 shall continue
until the earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

 

	3.7
	Office Services

	3.7.1
	Start Date.    Beginning on the Closing Date, Parent Group shall use commercially reasonable
efforts to provide office services to the Tronox Group in a form and manner consistent with past practices.

	3.7.2
	End Date.    The Tronox Group may terminate any specific service provided pursuant to this
Section 3.7 upon 30 days notice, and, in the event of such termination, any costs charged to the Tronox Group shall be commensurately reduced.

	3.7.3
	Services.    Such office services shall include, but not be limited to:

	(a)
	Those
services historically provided by Trammel Crow or otherwise in the ordinary course of business (which services shall be billed at actual cost as incurred).

	(b)
	Office
space, together with utilities, insurance and related services (which items shall be billed pro rata to the square footage of space occupied by the Tronox Group). 

A-10

 

	(c)
	Cafeteria
and catering services (which services shall be billed at actual cost based on usage).

	3.7.4
	Third-Party Costs.    Costs incurred in the provision of such office services shall be
allocated pursuant to historical practices.

	3.7.5
	Rent.    The Tronox Group shall pay Parent as rent an amount per annum equal to $12 per square
foot of space of real property owned by Parent Group and occupied by the Tronox Group, which amount shall be subject to annual review and adjustment based on the rents of comparable office space in
the local market. Notwithstanding anything to the contrary contained herein, the Tronox Group, upon thirty-days written notice, may reduce, in whole or in part, the amount of such space.
Parking spaces used, as of the Closing Date, by Tronox Group shall be made available to Tronox Group at no additional charge. The monthly portion of rent payable pursuant to this Section 3.7.5
shall be included in Service Costs.

 

	3.8
	Risk Management

	3.8.1
	Start Date.    Beginning on the Closing Date, Parent Group shall use commercially reasonable
efforts to provide assistance in claims administration, including, in particular, with respect to claims existing as of the Closing Date and claims which are not separable from claims of the Parent
Group.

	3.8.2
	End Date.    Parent Group's obligations pursuant to this Section 3.8 shall continue
until the earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

	3.8.3
	Services.    Subject to the terms and conditions of the Agreement, Parent Group's services
provided pursuant to this Section 3.8 shall include, but not be limited to, access to its records and personnel (including third party consultants and service providers) for purposes of claims
administration and consulting with respect to claims relating to the Tronox Group.

	3.8.4
	Personnel.    In connection with the Services to be provided pursuant to this
Section 3.8, beginning on the Closing Date, Parent Group and Tronox Group, as the case may be, shall make reasonably available for consultation with the Tronox Group and the Parent Group, as
the case may be, those retained employees and consultants or other service providers of the Parent Group or the Tronox Group, as the case may be, reasonably necessary for the provision of such
Services.

 

	3.9
	Human Resources

	3.9.1
	Start Date.    Beginning as of the Closing Date, Parent Group shall use commercially
reasonable efforts to separate the personnel and resources applicable to human resources administration in connection with the Tronox Group such that such separate personnel and resources may
independently conduct such human resource administration.

	3.9.2
	End Date.    Parent Group's obligations pursuant to this Section 3.9 shall continue
until the earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

	3.9.3
	Services.    Subject to the terms and conditions of the Agreement, Parent Group's services
provided pursuant to this Section 3.9 shall include the following:

	(a)
	Separation
of personnel, systems, records, applications and data related to the Tronox Group.

	(b)
	Assistance
in the integration of human resource activities and resources into the information technology system of the Tronox Group.

	(c)
	Provision
of human resource administration services, including payroll and benefits matters, (through personnel, systems, service providers, or otherwise) to the extent required to
maintain 

A-11

 

such
services, on behalf of the Tronox Group, to the extent and at the level provided to the Tronox Group as of the Closing Date. 

	(d)
	Processing
and payment of payroll obligations, including remittance of payroll taxes to the appropriate taxing authority.

	3.9.4
	Personnel.    In connection with the Services to be provided pursuant to this
Section 3.9, beginning on the Closing Date, Parent Group and Tronox Group, as the case may be, shall make reasonably available for consultation with the Tronox Group and the Parent Group, as
the case may be, those retained employees and consultants or other service providers of the Parent Group or the Tronox Group, as the case may be, reasonably necessary for the provision of such
Services.

 

	3.10
	Emergency Response Services and Disaster Recovery Services

	3.10.1
	Start Date.    Beginning on the Closing Date, Parent Group shall use commercially reasonable
efforts to provide assistance with, and use of, disaster recovery services and personnel (including with respect to process, systems and communications issues).

	3.10.2
	End Date.    Parent Group's obligations pursuant to this Section 3.10 shall continue
until the earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

	3.10.3
	Services.    Parent Group's services provided pursuant to this Section 3.10 shall
include, the provision of disaster recovery services available as of the Closing Date.

 

	3.11
	Relocation and Expatriate Services

	3.11.1
	Start Date.    Beginning on the Closing Date, Parent Group shall use commercially reasonable
efforts to provide the Tronox Group with consultation and assistance in relocation and expatriate services and shall transfer to the Tronox Group records relevant to such services and the Tronox
Group.

	3.11.2
	End Date.    Parent Group's obligations pursuant to this Section 3.11 shall continue
for a period of 90 days following the Closing Date.

 

	3.12
	Investor Relations

	3.12.1
	Start Date.    Beginning on the Closing Date, Parent Group shall make reasonably available
its investor personnel for consultation with the Tronox Group.

	3.12.2
	End Date.    Services provided pursuant to this Section 3.12 shall be provided until
the earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

 

	3.13
	Electrolytic

	3.13.1
	Start Date.    Beginning on the Closing Date, the Parent Group shall make reasonably
available its retained managerial personnel with respect to the electrolytic business for consultation with the Tronox Group.

	3.13.2
	End Date.    Services provided pursuant to this Section 3.13 shall be provided until
the earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

 

	3.14
	Gas Hedging

	3.14.1
	Start Date.    Beginning on the Closing Date, Parent Group shall (i) make reasonably
available its oil and gas marketing group personnel for the purpose of gas hedging consultation and (ii) with respect to commodity swap transaction cash settlements associated with the Tronox 

A-12

 

Group,
continue to process settlements with trading partners outstanding as of the Closing Date in accordance with existing terms and conditions and, after the Closing Date, forward promptly to Tronox
Group any associated cash proceeds or payables. 

	3.14.2
	End Date.    Parent Group's obligations pursuant to this Section 3.14 shall continue
until the earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

 

	3.15
	Corporate Planning

	3.15.1
	Start Date.    Beginning on the Closing Date, Parent Group shall make reasonably available
its consulting personnel for consultation with the Tronox Group in connection with investor relations and cash-flow consolidation support and consultation.

	3.15.2
	End Date.    Parent Group's obligations pursuant to this Section 3.15 shall continue
until the earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

 

	3.16
	Personnel

	3.16.1
	Start Date.    Beginning on the Closing Date, Parent Group shall make reasonably available
its personnel from time to time for consultation on matters relating to or affecting the Tronox Group or any of its members and on which such personnel have relevant familiarity or expertise.

	3.16.2
	End Date.    Parent Group's obligations pursuant to this Section 3.16 shall continue
until the earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

 

	3.17
	Letters of Credit; Surety Bonds or Financial Assurance 

If
Parent Group maintains any letters of credit, surety bonds or like instruments for the benefit of the Tronox Group, the Tronox Group shall reimburse Parent Group for the costs and fees associated
with such instruments. If requested by Tronox Group, Parent Group shall use commercially reasonable efforts to assist Tronox Group in establishing substitute letters of credit, surety bonds or like
instruments for the benefit of Tronox Group; provided, however, that Parent Group shall have no
obligation whatsoever to post any collateral or other financial guarantee in favor of the Tronox Group in connection with the Services described in this Section 3.17. 

	3.18
	Workers Compensation 

The
Tronox Group shall reimburse Parent Group for any worker compensation claims paid by Parent Group in respect of the businesses of the Tronox Group from and after the Closing Date. 

	3.19
	Insurance Premiums 

The
Tronox Group shall reimburse Parent Group for Tronox Group's pro rata share of any insurance premiums incurred by Parent Group under any Parent
Insurance Policy (as defined in the Master Separation Agreement) for the period of time during which members of the Tronox Group are covered under such policy pursuant to Section 2.6 of the
Master Separation Agreement; provided, however, that the Tronox Group shall not be required to reimburse
Parent Group for (i) any incremental premium surcharge billed by Oil Insurance Limited in the fourth quarter of 2005 or (ii) any premiums incurred by Parent Group with respect to
directors' and officers' liability insurance policies covering matters occurring prior to the Closing Date. 

A-13

   EXHIBIT B  

 Services Provided by Tronox Group to Parent Group  

	1.
	Accounting and Finance Matters

	1.1
	Accounts Payable

	1.1.1
	Start Date.    Beginning on the Closing Date, the Tronox Group shall use commercially
reasonable efforts to provide accounts payable services to the Parent Group if requested.

	1.1.2
	End Date.    The Tronox Group's obligations pursuant to this Section 1.1 shall continue
until the earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

	1.1.3
	Services.    The Tronox Group shall use commercially reasonable efforts to assist the Parent
Group in the processing of accounts payable matters relevant to activities prior to, and after, the Closing Date, including with respect to:

	(a)
	Processing
vendor invoices, including interfacing with accounting and other systems, including Oracle;

	(b)
	Processing
travel expense reports;

	(c)
	Stop
payment coordination;

	(d)
	1099
Misc. reporting;

	(e)
	Invoice
filing; and

	(f)
	Document
retention.

	1.1.4
	Systems.    For the purposes of this Section 1.1, the Tronox Group shall share and
permit access to its systems and data and shall provide the Parent Group with information and processing promptly and in conformance with the standards set forth in the Agreement.

 

	1.2
	Stray Funds

	1.2.1
	Start Date.    Beginning on the Closing Date, the Tronox Group shall assist the Parent Group
in the directing of funds intended to be remitted to the Parent Group.

	1.2.2
	Services.    In the event that remittances received into Tronox Group bank accounts relate to
sales or services provided by the Parent Group (or otherwise intended for the Parent Group), the Tronox Group shall promptly segregate such remittance amounts and whenever the balance of such amounts
exceeds $100,000 or once a week, whichever occurs first, the Tronox Group shall remit by wire transfer the balance collected on behalf of the Parent Group to the Parent Group.

 

	1.3
	General Accounting

	1.3.1
	Start Date.    Beginning on the Closing Date, the Tronox Group shall use commercially
reasonable efforts to assist the Parent Group with respect to general accounting services, including general accounting services necessary for Parent Group to comply with its SEC obligations.

	1.3.2
	End Date.    Tronox Group's obligations pursuant to this Section 1.3 shall continue
until the earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

	1.3.3
	Services.    Subject to the terms and conditions of this Agreement, beginning on the Closing
Date, Tronox Group shall make reasonably available its general accounting personnel for consultation 

B-1

 

on
matters relating to or affecting the Parent Group or any of its members and on which such personnel have relevant familiarity or expertise and provide information technology hosting in respect of
general accounting matters. 

	2.
	Information Technology and Management

	2.1
	Disaster Recovery Services

	2.1.1
	Start Date.    Beginning on the Closing Date, the Tronox Group shall use commercially
reasonable efforts to provide assistance to the Parent Group with respect to disaster recovery services available through the research and development center of the Tronox Group.

	2.1.2
	End Date.    The Tronox Group's obligations pursuant to this Section 2.1 shall continue
until the earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

	2.1.3
	Services.    The Tronox Group's services provided pursuant to this Section 2.1 shall
include the provision of disaster recovery services consistent with the services available as of the Closing Date.

	2.1.4
	Personnel.    In connection with the Services to be provided pursuant to this
Section 2.1, beginning on the Closing Date, Parent Group and Tronox Group, as the case may be, shall make reasonably available for consultation with the Tronox Group and the Parent Group, as
the case may be, those retained employees and consultants or other service providers of the Parent Group or the Tronox Group, as the case may be, reasonably necessary for the provision of such
Services.

	2.2
	IM&T
Personnel

	2.2.1
	Start Date.    Beginning on the Closing Date, the Tronox Group shall make reasonably available
its retained IM&T personnel for consultation or other IM&T services needed from time to time by the Parent Group.

	2.2.2
	End Date.    Services provided pursuant to this Section 2.2 shall be provided until the
earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

 

	3.
	Miscellaneous

	3.1
	Risk
Management

	3.1.1
	Start Date.    Beginning on the Closing Date, the Tronox Group shall make reasonably available
its retained risk management personnel for the purpose of consultation, assistance with insurance program procurement or other risk management services needed by the Parent Group.

	3.1.2
	End Date.    Services provided pursuant to this Section 3.1 shall be provided until the
earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

 

	3.2
	Real Property

	3.2.1
	Start Date.    Beginning on the Closing Date, the Tronox Group shall make reasonably available
its retained real property personnel for consultation or other real property administration services needed from time to time by the Parent Group.

	3.2.2
	End Date.    Services provided pursuant to this Section 3.2 shall be provided until the
earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement. 

B-2

 

	3.3
	Intellectual
Property Legal Matters

	3.3.1
	Start Date.    Beginning on the Closing Date, the Tronox Group shall make reasonably available
its retained intellectual property legal personnel for consultation with the Parent Group.

	3.3.2
	End Date.    Services provided pursuant to this Section 3.3 shall be provided until the
earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

	3.4
	Legal
Matters

	3.4.1
	Start Date.    Beginning on the Closing Date, Tronox Group shall make reasonably available its
internal and external legal counsel for consultation on matters relating to or affecting the Parent Group or any of its members and on which such personnel have relevant familiarity or expertise.

	3.4.2
	End Date.    Tronox Group's obligations pursuant to this Section 3.4 shall continue
until the earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement.

 

	3.5
	Personnel

	3.5.1
	Start Date.    Beginning on the Closing Date, Tronox Group shall make reasonably available its
personnel from time to time for consultation on matters relating to or affecting the Parent Group or any of its members and on which such personnel have relevant familiarity or expertise.

	3.5.2
	End Date.    Tronox Group's obligations pursuant to this Section 3.5 shall continue
until the earlier of Separation or the first anniversary of the Closing Date, unless extended in accordance with Section 11 of the Agreement. 

B-3

   Exhibit C  

 Amount of Transition Costs

(amounts in USD thousands) 

	Treasury	 	 	 
	XRT-CERG Conversion	 	$	.1
	
IMT	
 	
 	

 
	 	(includes Hardware, Software, Consulting, Misc. Other Expenses and Contingency)	 	 	9.8
	
Accounting	
 	
 	

 
	Oracle conversion	 	 	Included in IMT Costs
	
Human Resources	
 	
 	

 
	 	Benefits plans (assumed set up plans that mirror existing KM pension, medical)	 	 	1.1
	 	 	

	Total One-Time Transition Costs	 	$	11.0
	 	 	

C-1

QuickLinks

EXHIBIT 10.5QuickLinks
 -- Click here to rapidly navigate through this document

 
 

EXHIBIT 10.7    
    

FORM OF CONTINUITY AGREEMENT FOR OFFICERS 

        This
Agreement (the "Agreement") is dated as of                        , 2005 by and between Tronox Incorporated, a Delaware
corporation (the "Company"), and                        (the "Executive").
 

        WHEREAS,
the Company's Board of Directors considers the continued services of key executives of the Company to be in the best interests of the Company and its stockholders; and 

        WHEREAS,
the Company's Board of Directors desires to assure, and has determined that it is appropriate and in the best interests of the Company and its stockholders to reinforce and
encourage the continued attention and dedication of key executives of the Company to their duties of employment without personal distraction or conflict of interest in circumstances which could arise
from the occurrence of a change in control of the Company; and 

        WHEREAS,
the Company's Board of Directors has authorized the Company to enter into continuity agreements with those key executives of the Company and any of its respective subsidiaries
(all of such entities, together with the Company, are hereinafter referred to as an "Employer"), such agreements to set forth the severance compensation which the Company agrees under certain
circumstances to pay such executives; and 

        WHEREAS,
the Executive is a key executive of an Employer and has been designated as an executive to be offered such a continuity compensation agreement with the Company. 

        NOW,
THEREFORE, in consideration of the premises and the mutual covenants and agreements contained herein and other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, the Company and the Executive agree as follows: 

        1.    Term.    This Agreement shall become effective on the date the Company first offers shares of its Class A
common stock in an initial public offering (the "Effective Date") and remain in effect until the third anniversary thereof; provided,  however, that this
Agreement shall automatically renew for an additional year on each successive anniversary of the Effective Date, unless an Employer
informs the Executive, in writing, at least 180 days prior to the renewal date, that this Agreement shall not be renewed. The foregoing shall constitute the "Term" of this Agreement for
purposes hereof. 

        2.    Change in Control.    No compensation or other benefit pursuant to Section 4 hereof shall be payable
under this Agreement unless and until either (i) a Change in Control of the Company (as hereinafter defined) shall have occurred while the Executive is employed by an Employer and the
Executive's employment by an Employer thereafter shall have terminated in accordance with Section 3 hereof or (ii) the Executive's employment by an Employer shall have terminated in
accordance with Section 3(a)(ii) hereof prior to the occurrence of the Change in Control. Except as provided in Section 2(e) hereof, for purposes of this Agreement, a "Change in Control"
shall be deemed to have occurred if, beginning on the Effective Date and before the end of the Term of this Agreement: 

        (a)   any
person ("Person") as defined in Section 3(a)(9) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as used in Section 13(d)
and 14(d) thereof, including a "group" as defined in Section 13(d) of the Exchange Act but excluding the Company and any subsidiary and any employee benefit plan sponsored or maintained by the
Company or any subsidiary (including any trustee of such plan acting as trustee), directly or indirectly, becomes the "beneficial owner" (as defined in Rule 13d-3 under the Exchange
Act), of securities of the Company representing 25% or more of the combined voting power of the Company's then outstanding securities (other than indirectly as a result of the Company's redemption of
its securities); or 

        (b)   the
consummation of any merger or other business combination of the Company, sale of 50% or more of the Company's assets, liquidation or dissolution of the Company or
combination of the foregoing transactions (the "Transactions") other than a Transaction immediately following which the shareholders of the Company and any trustee or fiduciary of any Company employee
benefit plan 

 

immediately
prior to the Transaction own at least 60% of the voting power, directly or indirectly, of (A) the surviving corporation in any such merger or other business combination;
(B) the purchaser of or successor to the Company's assets; (C) both the surviving corporation and the purchaser in the event of any combination of Transactions; or (D) the parent
company owning 100% of such surviving corporation, purchaser or both the surviving corporation and the purchaser, as the case may be; or 

        (c)   within
any twenty-four month period, the persons who were directors immediately before the beginning of such period (the "Incumbent Directors") shall cease
(for any reason other than death) to constitute at least a majority of the Board or the board of directors of a successor to the Company. For this purpose, any director who was not a director at the
beginning of such period shall be deemed to be an Incumbent Director if such director was elected to the Board by, or on the recommendation of or with the approval of, at least two-thirds
of the directors who then qualified as Incumbent Directors (so long as such director was not nominated by a person who commenced or threatened to commence an election contest or proxy solicitation by
or on behalf of a Person (other than the Board) or who has entered into an agreement to effect a Change in Control or expressed an intention to cause such a Change in Control); or 

        (d)   a
majority of the members of the Board of Directors in office immediately prior to a proposed transaction determine by a written resolution that such proposed
transaction, if taken, will be deemed a Change in Control and such proposed transaction is consummated. 

        (e)   The
following events shall not constitute a Change in Control under this Agreement and shall not be considered in determining whether a Change in Control has occurred: 

        (i)    the
sale or purchase of the Company's Class A common stock in connection with the initial public offering of such stock; 

        (ii)   the
distribution to Kerr-McGee shareholders of the shares of the Company's Class B common stock that Kerr-McGee owns subsequent to the
Effective Date; 

        (iii)  Kerr-McGee
Corporation exchanging shares of the Company's Class B common stock that it owns subsequent to the completion of the initial public
offering of such stock with its shareholders in return for shares of Kerr-McGee Corporation; 

        (iv)  any
event that qualifies as a "change in control" under the terms of any agreement providing for continuity compensation under similar terms and conditions as this
Agreement if such agreement was entered into by the Executive and Kerr-McGee Corporation before the Effective Date of this Agreement and remains in effect on the date of the qualifying
event; or 

        (v)   if
the Executive is not a party to an agreement described in Section 2(e)(iv), above, any event that would qualify as a "change in control" under the terms of
this Agreement if the term "Kerr-McGee Corporation" were substituted for the term "Company" in Section 2 hereof and this Section 2(e) were disregarded. 

        3.    Termination of Employment; Definitions.    

        (a)    Termination without Cause by the Company or for Good Reason by the Executive.    

        (i)    The
Executive shall be entitled to the compensation provided for in Section 4 hereof, if within two years after a Change in Control, the Executive's employment by
an Employer shall be terminated (A) by an Employer for any reason other than (I) the Executive's Disability or Retirement, (II) the Executive's death or (III) for Cause, or
(B) by the Executive with Good Reason (all terms are as hereinafter defined), unless such termination occurs with the Executive's prior written consent expressly waiving the rights provided
hereunder. 

        (ii)   In
addition, the Executive shall be entitled to the compensation provided for in Section 4 hereof if, (A) in the event that an agreement is signed which,
if consummated, would 

2

 

result
in a Change of Control and, within 12 months thereafter, the Executive is terminated without Cause by the Company (other than on account of Executive's Death or Disability) or terminates
employment with Good Reason prior to the Change in Control, (B) such termination is at the request or instigation of the acquiror or merger partner or otherwise in connection with the
anticipated Change in Control, and (C) within said 12 month period, such Change in Control actually occurs. 

        (b)    Disability.    For purposes of this Agreement, "Disability" shall mean the Executive's absence from the
full-time performance of the Executive's duties (as such duties existed immediately prior to such absence) for 180 consecutive business days, when the Executive is disabled as a result of
incapacity due to physical or mental illness. 

        (c)    Retirement.    For purposes of this Agreement, "Retirement" shall mean the Executive's voluntary termination of
employment pursuant to late, normal or early retirement under a pension plan sponsored by an Employer, as defined in such plan, but only if such retirement occurs prior to a termination by an Employer
without Cause or by the Executive for Good Reason. 

        (d)    Cause.    For purposes of this Agreement, "Cause" shall mean: 

        (i)    the
willful and continued failure of the Executive to perform substantially all of his or her duties with an Employer (other than any such failure resulting from
incapacity due to physical or mental illness), after a written demand for substantial performance is delivered to such Executive by the Board of
Directors (the "Board") of the Company which specifically identifies the manner in which the Board believes that the Executive has not substantially performed his or her duties; 

        (ii)   the
willful engaging by the Executive in gross misconduct which is materially and demonstrably injurious to the Company or any Employer; or 

        (iii)  the
conviction of, or plea of guilty or nolo contendere to, a felony. 

        Termination
of the Executive for Cause shall be made by delivery to the Executive of a copy of a resolution duly adopted by the affirmative vote of not less than a three-fourths majority
of the non-employee Directors of the Company or of the ultimate parent of the entity which caused the Change in Control (if the Company has become a subsidiary) at a meeting of such
Directors called and held for such purpose, after 30 days prior written notice to the Executive specifying the basis for such termination and the particulars thereof and a reasonable
opportunity for the Executive to cure or otherwise resolve the behavior in question prior to such meeting, finding that in the reasonable judgment of such Directors, the conduct or event set forth in
any of clauses (i) through (iii) above has occurred and that such occurrence warrants the Executive's termination. 

        (e)    Good Reason.    For purposes of this Agreement, "Good Reason" shall mean the occurrence, within the Term of
this Agreement, of any of the following without the Executive's written consent expressly waiving the rights provided hereunder: 

        (i)    any
material and adverse diminution in the Executive's duties or responsibilities with the Company (or any affiliate thereof) from those in effect immediately prior to
the Change in Control; 

        (ii)   any
reduction in the Executive's annual base salary or any adverse change in bonus opportunity or participation in cash bonus programs in effect immediately prior to
the Change in Control; 

        (iii)  any
requirement that Executive be based at a location more than 35 miles from the location at which the Executive was based immediately prior to the Change in Control
(or a 

3

 

substantial
increase in the amount of travel Executive is required to do because of a relocation of the executive offices); 

        (iv)  any
failure by the Company to obtain from any successor to the Company an agreement reasonably satisfactory to the Executive to assume and perform this Agreement, as
contemplated by Section 10(a) hereof; or 

        (v)   any
amendment, reduction or termination of any benefit plan, program or arrangement, which has the effect of causing the Executive to have benefits which are not
substantially similar, in the aggregate, to those benefits provided to the Executive immediately prior to the Change in Control. 

        Notwithstanding
the foregoing, in the event Executive provides the Company with a Notice of Termination (as defined below) referencing this Section 3(e), the Company shall have
30 days thereafter in which to cure or resolve the behavior otherwise constituting Good Reason. Any good faith determination by Executive that Good Reason exists shall be presumed correct and
shall be binding upon the Company. 

        (f)    Notice of Termination.    Any purported termination of the Executive's employment (other than on account of
Executive's death) with an Employer, if such termination occurs after the occurrence of a Change in Control or under circumstances specified under Section 3(a)(ii) above, shall be communicated
by a Notice of Termination to the Executive, if such termination is by an Employer, or to an Employer, if such termination is by the Executive. For purposes of this Agreement, "Notice of Termination"
shall mean a written notice which shall indicate the specific termination provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to
provide a basis for termination of the Executive's employment under the provisions so indicated. For purposes of this Agreement, no purported termination of Executive's employment with an Employer
shall be effective without such a Notice of Termination having been given. 

        4.    Compensation Upon Termination After a Change in Control.    

        Subject
to Section 9 hereof, if within two years of a Change in Control, the Executive's employment by an Employer shall be terminated in accordance with Section 3(a) (the
"Termination"), the Executive shall be entitled to the following payments and benefits: 

        (a)    Severance.    The Company shall pay or cause to be paid to the Executive a cash severance amount equal to
(i) three (3) times the sum of (A) the Executive's annual base salary on the date of the Change in Control (or, if higher, the annual base salary in effect immediately prior to
the giving of the Notice of Termination) and (B) the higher of: (x) the average of the actual bonuses earned by the Executive in respect of the three years prior to the year in which the
Change in Control occurs under the Company's incentive award program, or (y) the Executive's target bonus for the year of Termination, plus (ii) in lieu of continuation of any of the
Executive's perquisites as provided to the Executive prior to the Change in Control (or, if greater, at the time of Termination), a cash payment equal to 7 percent of the Executive's annual
base salary as in effect on the date of the Change in Control for each of the three (3) years following the date of Termination. This cash severance amount shall be payable in a lump sum. 

        (b)    Additional Payments and Benefits.    The Executive shall also be entitled to: 

        (i)    a
lump sum cash payment equal to the sum of (A) the Executive's accrued but unpaid annual base salary through the date of Termination, (B) the unpaid
portion, if any, of bonuses previously earned by the Executive pursuant to the Company's Executive incentive award program, plus the pro rata portion of the bonus to be paid for the year in which the
date of Termination occurs (calculated through the date of Termination), (C) an amount, if any, equal to 

4

 

compensation
previously deferred (excluding any qualified plan deferral) and any accrued vacation pay, in each case, in full satisfaction of Executive's rights thereto, and (D) an amount, if
any, equal to the value of the number of performance units that the Executive would have earned if the performance period for such performance units had ended on the date of the Change in Control or,
if greater, the target number of performance units under the award. 

        (ii)   a
lump sum cash payment equal to the aggregate sum of (A) additional pension contributions in an amount equal to the Company's contributions under the Company's
401(k) plan, profit sharing or other savings pension plans (or such other qualified and nonqualified defined contribution pension plans as then in effect) for the three (3) year period
following the date of Termination (the "Separation Period") (based on assumed rates of Executive's contributions at the level of participation in effect as of the last date Executive was permitted to
participate); and (B) the difference between the discounted present value (i.e., lump sum value) of the annuity benefit the Executive is entitled to receive under the Company's qualified and
nonqualified defined benefit retirement programs in which the Executive is a participant calculated through the date of Termination and the discounted present value (i.e., lump sum value) of the
annuity benefit the Executive would be entitled to receive under such retirement programs calculated after adding an additional five years of credit to age and service up to a maximum of age 65
as if the executive had been paid at the rate used to calculate the payments under Section 4(a), provided that the additional credits added with respect to each retirement program shall not
exceed five years when added to any additional credits already provided by the terms of the such programs in respect of the Termination covered hereby. 

        (iii)  continued
medical, dental, vision, and life insurance coverage (excluding accident, death, and disability insurance) for the Executive and the Executive's eligible
dependents or, to the extent such coverage is not commercially available, such other arrangements reasonably acceptable to the Executive, on the same basis as in effect prior to the Change in Control
or the Executive's Termination, whichever is deemed to provide for more substantial benefits, for a period ending on the earlier of (A) the end of the Separation Period or (B) the
commencement of comparable coverage by the Executive with a subsequent employer; 

        (iv)  unless
it would adversely affect the Company's ability to use pooling of interest accounting in a Change in Control transaction in which such accounting is intended to
be used, immediate 100%
vesting of all outstanding stock options, stock appreciation rights and restricted stock granted or issued by any Employer to the extent not previously vested on or following the Change of Control;
and 

        (v)   all
other accrued or vested benefits in accordance with the terms of the applicable plan (with an offset for any amounts paid under Section 4(b)(i)(C), above). 

        All
lump sum payments under this Section 4 shall be paid within 15 business days after Executive's date of Termination, provided,  however, that such
payment shall be made 30 days after Termination in the event that the Company requires the Executive to sign a release at the
time of Termination. Discounted present value (i.e., lump sum value) for purposes of subsection (ii) above shall be calculated using a discount factor equal to one percentage point below the
rate of interest, per annum, publicly announced by The Chase Manhattan Bank, N.A. as its prime rate in effect at its principal office in New York City, and using the actuarial factors set forth in the
defined benefit retirement program. 

        (c)    Outplacement.    If so requested by the Executive, outplacement services shall be provided by a professional
outplacement provider selected by Executive; provided, however, that such outplacement services shall be
provided the Executive at an aggregate total cost to the Company of not more than ten (10) percent of such Executive's annual base salary. 

5

 

        (d)    Withholding.    Payments and benefits provided pursuant to this Section 4 shall be subject to any
applicable payroll and other taxes required to be withheld. 

        5.    Compensation Upon Termination for Death, Disability or Retirement.    

        If
an Executive's employment is terminated by reason of Death, Disability or Retirement prior to any other termination, Executive will receive: 

        (a)   the
sum of (i) Executive's accrued but unpaid salary through the date of Termination, (ii) the pro rata portion of the Executive's target bonus for the
year of Executive's Death or Disability (calculated through the date of Termination), and (iii) an amount equal to any compensation previously deferred and any accrued vacation pay; and 

        (b)   other
accrued or vested benefits in accordance with the terms of the applicable plan (with an offset for any amounts paid under item (a)(iii), above). 

        6.    Excess Parachute Payments.    

        (a)   (i) If
it is determined (as hereafter provided) that any payment or distribution by the Company or any Employer to or for the benefit of the Executive, whether
paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise pursuant to or by reason of any other agreement, policy, plan, program or arrangement, including
without limitation any stock option, stock appreciation right or similar right, or the lapse or termination of any restriction on or the vesting or exercisability of any of the foregoing (a "Severance
Payment"), would be subject to the excise tax imposed by Section 4999 of the Code (or any successor provision thereto) by reason of being "contingent on a change in ownership or control" of the
Company, within the meaning of Section 280G of the Code (or any successor provision thereto) or to any similar tax imposed by state or local law, or any interest or penalties with respect to
such excise tax (such tax or taxes, together with any such interest and penalties, are hereafter collectively referred to as the "Excise Tax"), then the Executive shall be entitled to receive an
additional payment or payments (a "Gross-Up Payment") in an amount such that, after payment by the Executive of all taxes (including any interest or penalties imposed with respect to such
taxes), including any Excise Tax, imposed upon the Gross-Up Payment, the Executive retains an amount of the Gross-Up Payment equal to the Excise Tax imposed upon the Severance
Payments. 

        (ii)   Subject
to the provisions of Section 6(a)(i) hereof, all determinations required to be made under this Section 6, including whether an Excise Tax is
payable by the Executive and the amount of such Excise Tax and whether a Gross-Up Payment is required and the amount of such Gross-Up Payment, shall be made by the nationally
recognized firm of certified public accountants (the "Accounting Firm") used by the Company prior to the Change in Control (or, if such Accounting Firm declines to serve, the Accounting Firm shall be
a nationally recognized firm of certified public accountants selected by the Executive). The Accounting Firm shall be directed by the Company or the Executive to submit its preliminary determination
and detailed supporting calculations to both the Company and the Executive within 15 calendar days after the Termination Date, if applicable, and any other such time or times as may be requested by
the Company or the Executive. If the Accounting Firm determines that any Excise Tax is payable by the Executive, the Company shall pay the required Gross-Up Payment to, or for the benefit
of, the Executive within five business days after receipt of such determination and calculations. If the Accounting Firm determines that no Excise Tax is payable by the Executive, it shall, at the
same time as it makes such determination, furnish the Executive with an opinion that he has substantial authority not to report any Excise Tax on his/her federal, state, local income or other tax
return. Any determination by the Accounting Firm as to the amount of the Gross-Up Payment shall be binding upon the Company and the Executive absent a contrary determination by the
Internal Revenue Services or a court of competent jurisdiction; provided, however, that no such 

6

 

determination
shall eliminate or reduce the Company's obligation to provide any Gross-Up Payment that shall be due as a result of such contrary determination. As a result of the
uncertainty in the application of Section 4999 of the Code (or any successor provision thereto) and the possibility of similar uncertainty regarding state or local tax law at the time of any
determination by the Accounting Firm hereunder, it is possible that Gross-Up Payments that will not have been made by the Company should have been made (an "Underpayment"), consistent with
the calculations required to be made hereunder. In the event that the Company exhausts or fails to pursue its remedies pursuant to Section 6(a) hereof and the Executive thereafter is required
to make a payment of any Excise Tax, the Executive shall direct the Accounting Firm to determine the amount of the Underpayment that has occurred and to submit its determination and detailed
supporting calculations to both the Company and the Executive as promptly as possible. Any such Underpayment shall be promptly paid by the Company to, or for the benefit of, the Executive within five
business days after receipt of such determination and calculations. 

        (iii)  The
federal, state and local income or other tax returns filed by the Executive (or any filing made by a consolidated tax group which includes the Company) shall be
prepared and filed on a consistent basis with the determination of the Accounting Firm with respect to the Excise Tax payable by the Executive. The Executive shall make proper payment of the amount of
any Excise Tax, and at the request of the Company, provide to the Company true and correct copies (with any amendments) of his/her federal income tax return as filed with the Internal Revenue Service
and corresponding state and local tax returns, if relevant, as filed with the applicable taxing authority, and such other documents reasonably requested by the Company, evidencing such payment. If
prior to the filing of the Executive's federal income tax return, or corresponding state or local tax return, if relevant, the Accounting Firm determines that the amount of the Gross-Up
Payment should be reduced, the Executive shall within five business days pay to the Company the amount of such reduction. 

        (iv)  The
Company and the Executive shall each provide the Accounting Firm access to and copies of any books, records and documents in the possession of the Company or the
Executive, as the case may be, reasonably requested by the Accounting Firm, and otherwise cooperate with the Accounting Firm in connection with the preparation and issuance of the determination
contemplated by Section 6(a) hereof. 

        (v)   The
fees and expenses of the Accounting Firm for its services in connection with the determinations and calculations contemplated by Sections 6(a)(ii) and (iv)
hereof shall be borne by the Company. If such fees and expenses are initially advanced by the Executive, the Company shall reimburse the Executive the full amount of such fees and expenses within five
business days after receipt from the Executive of a statement therefor and reasonable evidence of his/her payment thereof. 

        (b)   In
the event that the Internal Revenue Service claims that any payment or benefit received under this Agreement constitutes an "excess parachute payment," within the
meaning of Section 280G(b)(1) of the Code, the Executive shall notify the Company in writing of such claim. Such notification shall be given as soon as practicable but no later than 10 business
days after the Executive is informed in writing of such claim and shall apprise the Company of the nature of such claim and the date on which such claim is requested to be paid. The Executive shall
not pay such claim prior to the expiration of the 30 day period following the date on which the Executive gives such notice to the Company (or such shorter period ending on the date that any
payment of taxes with respect to such claim is due). If the Company notifies the Executive in writing prior to the expiration of such period that it desires to contest such claim, the Executive shall
(i) give the Company any information reasonably requested by the Company relating to such claim; (ii) take such action in connection with contesting such claim as the Company shall
reasonably request in writing from time to time, including without limitation, accepting legal representation with respect to such claim by an attorney reasonably 

7

 

selected
by the Company and reasonably satisfactory to the Executive; (iii) cooperate with the Company in good faith in order to effectively contest such claim; and (iv) permit the
Company to participate in any proceedings relating to such claim; provided, however, that the Company
shall bear and pay directly all costs and expenses (including, but not limited to, additional interest and penalties and related legal, consulting or other similar fees) incurred in connection with
such contest and shall indemnify and hold the Executive harmless, on an after-tax basis, for and against any Excise Tax or other tax (including interest and penalties with respect thereto)
imposed as a result of such representation and payment of costs and expenses. 

        (c)   The
Company shall control all proceedings taken in connection with such contest and, at its sole option, may pursue or forgo any and all administrative appeals,
proceedings, hearings and conferences with the taxing authority in respect of such claim and may, at its sole option, either direct the Executive to pay the tax claimed and sue for a refund or contest
the claim in any permissible manner, and the Executive agrees to prosecute such contest to a determination before any administrative tribunal, in a court of initial jurisdiction and in one or more
appellate courts, as the Company shall determine; provided, however, that if the Company directs the
Executive to pay such claim and sue for a refund, the Company shall advance the amount of such payment to the Executive on an interest-free basis, and shall indemnify and hold the
Executive harmless, on an
after-tax basis, from any Excise Tax or other tax (including interest and penalties with respect thereto) imposed with respect to such advance or with respect to any imputed income with
respect to such advance; and provided, further, that if the Executive is required to extend the statute
of limitations to enable the Company to contest such claim, the Executive may limit this extension solely to such contested amount. The Company's control of the contest shall be limited to issues with
respect to which a corporate deduction would be disallowed pursuant to Section 280G of the Code and the Executive shall be entitled to settle or contest, as the case may be, any other issue
raised by the Internal Revenue Service or any other taxing authority. In addition, no position may be taken nor any final resolution be agreed to by the Company without the Executive's consent if such
position or resolution could reasonably be expected to adversely affect the Executive (including any other tax position of the Executive unrelated to matters covered hereby). 

        (d)   If,
after the receipt by the Executive of an amount advanced by the Company in connection with the contest of the Excise Tax claim, the Executive becomes entitled to
receive any refund with respect to such claim, the Executive shall promptly pay to the Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable
thereto); provided, however, if the amount of that refund exceeds the amount advanced by the Company or
it is otherwise determined for any reason that additional amounts could be paid to the Named Executive without incurring any Excise Tax, any such amount will be promptly paid by the Company to the
named Executive (or shall be applied to reduce any amount that Executive would otherwise be required to pay the Company). If, after the receipt by the Executive of an amount advanced by the Company in
connection with an Excise Tax claim, a determination is made that the Executive shall not be entitled to any refund with respect to such claim and the Company does not notify the Executive in writing
of its intent to contest the denial of such refund prior to the expiration of 30 days after such determination, such advance shall be forgiven and shall not be required to be repaid and shall
be deemed to be in consideration for services rendered after the date of the Termination. 

        7.    Expenses.    In addition to all other amounts payable to the Executive under this Agreement, the Company shall
pay or reimburse the Executive for reasonable legal fees (including without limitation, any and all court costs and reasonable attorneys' fees and expenses) incurred by the Executive in connection
with or as a result of any claim, action or proceeding brought by the Company or the Executive with respect to or arising out of this Agreement or any provision hereof;  provided, however, that the Company shall have no obligation to pay any such legal fees, if
(i) in the case of an action brought by the Executive, the Company is successful in establishing with the court that the Executive's action was frivolous or 

8

 

otherwise
without any reasonable legal or factual basis; or (ii) in connection with any such claim, action or proceeding arising out of Section 12 of this Agreement. 

        8.    Obligations Absolute; Non-Exclusivity of Rights; Joint Several Liability.    

        (a)   The
obligations of the Company to make the payments to the Executive, and to make the arrangements, provided for herein shall be absolute and unconditional and shall not
be reduced by any circumstances, including without limitation any set-off, counterclaim, recoupment, defense or other right which the Company may have against the Executive or any third
party at any time. 

        (b)   Nothing
in this Agreement shall prevent or limit the Executive's continuing or future participation in any benefit, bonus, incentive or other plan or program provided by
the Company or any other Employer and for which the Executive may qualify, nor shall anything herein limit or reduce such rights as the Executive may have under any agreements with the Company or any
other Employer. 

        (c)   Each
entity included in the definition of "Employer" and any successors or assigns shall be joint and severally liable with the Company under this Agreement. 

        9.    Not an Employment Agreement; Effect On Other Rights.    

        (a)   This
Agreement is not, and nothing herein shall be deemed to create, a contract of employment between the Executive and the Company. The Company may terminate the
employment of the Executive by the Company at any time, subject to the terms of this Agreement and/or any employment agreement or arrangement between the Company and the Executive that may then be in
effect. 

        (b)   This
Agreement supersedes all prior agreements covering change in control or any other subject matter covered by this Agreement and Executive hereby represents that the
Executive has no other oral or written representations, understandings or agreements with the Company or any of its officers, directors or representatives covering any such subject matter and agrees
that any and all prior written agreements relating to such subject matter shall be terminated effective as of the date of execution of this Agreement and shall be of no further force or effect. 

        10.    Successors; Binding Agreement, Assignment.    

        (a)   The
Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business of the
Company, by agreement to expressly, absolutely and unconditionally assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it
if no such succession had taken place. Failure of the Company to obtain such agreement prior to the effectiveness of any such succession shall be a material breach of this Agreement and shall entitle
the Executive to terminate the Executive's employment with the Company or such successor for Good Reason immediately prior to or at any time after such succession. As used in this Agreement, "Company"
shall mean (i) the Company as hereinbefore defined, and (ii) any successor to all the stock of the Company or to all or substantially all of the Company's business or assets which
executes and delivers an agreement
provided for in this Section 10(a) or which otherwise becomes bound by all the terms and provisions of this Agreement by operation of law, including any parent or subsidiary of such a
successor. 

        (b)   This
Agreement shall 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 should die while any amount would be payable to the Executive hereunder if the Executive had continued to live, all such amounts, unless otherwise
provided herein, shall be paid in accordance with the terms of this Agreement to the Executive's estate or designated beneficiary. Neither this Agreement nor any right arising hereunder may be
assigned or pledged by the Executive. 

9

 

        11.    Notice.    For purpose of this Agreement, notices and all other communications provided for in this Agreement
or contemplated hereby shall be in writing and shall be deemed to have been duly given when personally delivered, delivered by a nationally recognized overnight delivery service or when mailed United
States certified or registered mail, return receipt requested, postage prepaid, and addressed, in the case of the Company, to the Company at: 

Tronox
Incorporated

123 Robert S. Kerr Avenue

P.O. Box 25861

Oklahoma City, Oklahoma 73125

Attention: Chief Executive Officer

(with a copy to General Counsel) 

and
in the case of the Executive, to the Executive at the address set forth on the execution page at the end hereof. 

        Either
party may designate a different address by giving notice of change of address in the manner provided above, except that notices of change of address shall be effective only upon
receipt. 

        12.    Confidentiality.    

        (a)   The
Executive shall retain in confidence any and all confidential information concerning the Company and its respective business which is now known or hereafter becomes
known to the Executive,
except as otherwise required by law and except information (i) ascertainable or obtained from public information, (ii) received by the Executive at any time after the Executive's
employment by the Company shall have terminated, from a third party not employed by or otherwise affiliated with the Company or (iii) which is or becomes known to the public by any means other
than a breach of this Section 12. Upon the Termination of employment, the Executive will not take or keep any proprietary or confidential information or documentation belonging to the Company. 

        (b)   The
Executive acknowledges and agrees that the Company's remedies at law for a breach or threatened breach of any of the provisions of this Section 12 would be
inadequate and, in recognition of this fact, Executive agrees that, in the event of such a breach or threatened breach, in addition to any remedies at law, the Company, without posting any bond, shall
be entitled to cease making any payments or providing any benefit otherwise required by this Agreement during the pendency of any dispute involving such Section and to obtain equitable relief in the
form of specific performance, temporary restraining order, temporary or permanent injunction or any other equitable remedy which may then be available. Upon the resolution of such dispute, any
payments or benefits required by this Agreement which were suspended during the pendency of the dispute shall be paid or provided to the Executive if it is determined that no breach of this
Section 12 occurred. 

        This
paragraph 12 shall survive this Agreement. 

        13.    Release.    In the event that the Company requests a release from the Executive, in the form attached hereto as
Exhibit A, then as a condition to providing any payments or benefits under this Agreement, the Executive shall deliver such release. 

        14.    Miscellaneous.    No provision of this Agreement may be amended, altered, modified, waived or discharged unless
such amendment, alteration, modification, waiver or discharge is agreed to in writing signed by the Executive and such officer of the Company as shall be specifically designated by the Committee or by
the Board of Directors of the Company. No waiver by either party, at any time, of any breach by the other party of, or of compliance by the other party with, any condition or provision of this
Agreement to be performed or complied with by such other party shall be deemed a waiver of any similar or dissimilar provision or condition of this Agreement or any other breach of or failure to
comply with the same condition or provision at the same time or at any prior or subsequent time. No agreements or 

10

 

representations,
oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either party which are not expressly set forth in this Agreement. 

        15.    Severability.    If any one or more of the provisions of this Agreement shall be held to be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions of this Agreement shall not be affected thereby. To the extent permitted by applicable law, each party hereto
waives any
provision of law which renders any provision of this Agreement invalid, illegal or unenforceable in any respect. 

        16.    Governing Law; Venue.    The validity, interpretation, construction and performance of this Agreement shall be
governed exclusively by the laws of the State of Delaware without giving effect to its conflict of laws rules. For purposes of jurisdiction and venue, the Company and each Employer hereby consents to
jurisdiction and venue in any suit, action or proceeding with respect to this Agreement in any court of competent jurisdiction in the state in which Executive resides at the commencement of such suit,
action or proceeding and waives any objection, challenge or dispute as to such jurisdiction or venue being proper. 

        17.    Counterparts.    This Agreement may be executed in two or more counterparts, each of which shall be an original
and all of which shall be deemed to constitute one and the same instrument. 

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

	 	 	TRONOX INCORPORATED.
	

 	
 	

By:	
 	

    

	

 	
 	

    

11

 
Exhibit A  

RELEASE  

        [                        ] ("Executive"), for and in consideration
of the payments and benefits that Executive shall receive under this Agreement,
hereby executes the following General Release ("Release") and agrees as follows: 

        1.     Executive,
on behalf of Executive, Executive's agents, assignees, attorneys, successors, assigns, heirs and executors, to, and Executive does hereby fully and completely
forever release the Company and its affiliates, predecessors and successors and all of their respective past and/or present officers, directors, partners, members, managing members, managers,
Executives, agents, representatives, administrators, attorneys, insurers and fiduciaries in their individual and/or representative capacities (hereinafter collectively referred to as the "Releasees"),
from any and all causes of action, suits, agreements, promises, damages, disputes, controversies, contentions, differences, judgments, claims, debts, dues, sums of money, accounts, reckonings, bonds,
bills, specialties, covenants, contracts, variances, trespasses, extents, executions and demands of any kind whatsoever, which Executive or Executive's heirs, executors, administrators, successors and
assigns ever had, now have or may have against the Releasees or any of them, in law, admiralty or equity, whether known or unknown to Executive, for, upon, or by reason of, any matter, action,
omission, course or thing whatsoever occurring up to the date this Release is signed by Executive, including, without limitation, in connection with or in relationship to Executive's employment or
other service relationship with the Company or its affiliates, the termination of any such employment or service relationship and any applicable employment, compensatory or equity arrangement with the
Company or its respective affiliates; provided that such released claims shall not include any claims to enforce Executive's rights under, or with respect to, this Release (such released claims are
collectively referred to herein as the "Released Claims"). 

        2.     Notwithstanding
the generality of clause (1) above, the Released Claims include, without limitation, (a) any and all claims under Title VII of the
Civil Rights Act of 1964, the Age Discrimination in Employment Act of 1967, the Civil Rights Act of 1971, the Civil Rights Act of 1991, the Fair Labor Standards Act, the Executive Retirement Income
Security Act of 1974, the Americans with Disabilities Act, the Family and Medical Leave Act of 1993, and any and all other federal, state or local laws, statutes, rules and regulations pertaining to
employment or otherwise, and (b) any claims for wrongful discharge, breach of contract, fraud, misrepresentation or any compensation claims, or any other claims under any statute, rule,
regulation or under the common law, including compensatory damages, punitive damages, attorney's fees, costs, expenses and all claims for any other type of damage or relief. 

        3.     This
means that, by signing this Release, the Executive shall have waived any right to which the Executive may have had to bring a lawsuit or make any claim against the
Releasees based on any acts or omissions of the releasees up to the date of the signing of this Release. 

        4.     Executive
represents that he has read carefully and fully understands the terms of this Release, and that Executive has been advised to consult with an attorney and have
had the opportunity to consult with an attorney prior to signing this Release. Executive acknowledges that he is executing this Release voluntarily and knowingly and that he has not relied on any
representations, promises or agreements of any kind made to Executive in connection with Executive's decision to accept the terms of this Release, other than those set forth in this Release. Executive
acknowledges that Executive has been given at least twenty-one (21) days to consider whether Executive wants to sign this Release and that the Age Discrimination in Employment Act
gives Executive the right to revoke this Release within seven (7) days after it is signed, and Executive understands that he will not receive any payments due him under this Release until such
seven (7) day revocation period (the "Revocation Period") has passed and then, only if Executive has not revoked this Release. To the extent Executive has executed this Release within less than 

12

 

twenty-one
(21) days after its delivery to Executive, Executive hereby acknowledges that his decision to execute this Release prior to the expiration of such twenty-one
(21) day period was entirely voluntary. 

	 	 	TRONOX INCORPORATED
	

    
 Executive	
 	

    
 Title:

Name:

13

QuickLinks

EXHIBIT 10.7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00092-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00092-of-00352.parquet"}]]