Document:

Exhibit

THE MOSAIC COMPANY

RETENTION AWARD AGREEMENT (2017 Award) 

This RETENTION AWARD AGREEMENT (the “Agreement”) is dated this ____ day of ________, 2017, from The Mosaic Company, a Delaware corporation (the “Company”), to Richard N. McLellan (the “Participant”).  The “Grant Date” shall be ________, 201[__].  The “Grant Period” shall begin on the Grant Date and end on June 14, 2019.
1.    Award.  The Company hereby grants to Participant a stock-based award equal in value to $1,100,000 (the “Award Amount”) that upon vesting will be paid in the form of shares of common stock, par value $.01 per share (the “Common Stock”), of the Company according to the terms and conditions set forth herein and in The Mosaic Company 2014 Stock and Incentive Plan (the “Plan”).  This Award Amount and the shares to be issued are granted under Sections 6(h) and (i) of the Plan.  A copy of the Plan will be furnished upon request of Participant.  The number of Shares that will be issued is equal to the vested Award Amount divided by the ending price per Share on the last day of the Grant Period.  

2.    Vesting; Forfeiture; Early Vesting.
(a)    Except as otherwise provided in this Agreement, the Award Amount shall vest on the last day of the Grant Period.
(b)    If Participant ceases to be an employee of the Company or any Affiliate, whether voluntary or involuntary and whether or not terminated for cause, prior to vesting of the Award Amount pursuant to Section 2(a) hereof, all of Participant’s rights to all of the unvested Award Amount shall be immediately and irrevocably forfeited.
3.    Certain Definitions.
(a)          “Change in Control” shall mean:
(i)    a majority of the directors of the Company shall be persons other than persons (A) for whose election proxies shall have been solicited by the Board of Directors of the Company, or (B) who are then serving as directors appointed by the Board of Directors to fill vacancies on the Board of Directors caused by death or resignation (but not by removal) or to fill newly-created directorships,
(ii)    50% or more of the voting power of all of the outstanding shares of all classes and series of capital stock of the Company entitled to vote in the general election of directors of the Company, voting together as a single class (the “Voting Stock”), of the Company is acquired or beneficially owned by any person, entity or group (within the meaning of Section 13d(3) or 14(d)(2) of the Exchange Act other than (A) an entity in connection with a Business Combination in which clauses (A) and (B) of subparagraph (iii) apply or (B) a licensed broker/dealer or licensed underwriter who purchases shares of Voting Stock pursuant to an underwritten public offering solely for the purpose of resale to the public,
(iii)    the consummation of a merger or consolidation of the Company with or into another entity, a sale or other disposition (in one transaction or a series of transactions) of all or substantially all of the Company’s assets or a similar business combination (each, a “Business Combination”), in each case unless, immediately following such Business Combination, (A) all or substantially all of the beneficial owners of the Company’s Voting Stock immediately prior to such Business 

Combination beneficially own, directly or indirectly, more than 50% of the voting power of the then outstanding shares of Voting Stock (or comparable voting equity interests) of the surviving or acquiring entity resulting from such Business Combination (including such beneficial ownership of an entity that, as a result of such transaction, owns the Company or all or substantially all of the Company’s assets either directly or through one of more subsidiaries), in substantially the same proportions (as compared to the other beneficial owners of the Company’s Voting Stock immediately prior to such Business Combination) as their beneficial ownership of the Company’s Voting Stock immediately prior to such Business Combination, and (B) no person, entity or group beneficially owns, directly or indirectly, 50% or more of the voting power of the outstanding voting stock (or comparable equity interests) of the surviving or acquiring entity (other than a direct or indirect parent entity of the surviving or acquiring entity, that, after giving effect to the Business Combination, beneficially owns, directly or indirectly, 100% of the outstanding Voting Stock (or comparable equity interests) of the surviving or acquiring entity), or
(iv)    approval by the Company’s stockholders of a definitive agreement or plan to liquidate or dissolve the Company.

4.    Restrictions on Transfer.  The Award Amount shall not be transferable other than by will or by the laws of descent and distribution.  Each right under this Agreement shall be exercisable during Participant’s lifetime only by Participant or, if permissible under applicable law, by Participant’s legal representative.  Until the date that the Award Amount vests pursuant to Section 2 hereof, none of the Award Amount or the shares of Common Stock issuable upon vesting thereof (the “Shares”) may be sold, assigned, transferred, pledged, hypothecated or otherwise disposed of, and any purported sale, assignment, transfer, pledge, hypothecation or other disposition shall be void and unenforceable against the Company, and no attempt to transfer the Award Amount or the Shares, whether voluntarily or involuntarily, by operation of law or otherwise, shall vest the purported transferee with any interest or right in or with respect to the Award Amount or the Shares.  
5.    Adjustments.  If the Award Amount vests subsequent to any change in the number or character of the Common Stock of the Company (through any stock dividend or other distribution, recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase or exchange of shares, or otherwise), there shall be no adjustment to the Award Amount.  In the event of a Change in Control in connection with which the holders of Common Stock receive consideration consisting solely of shares of common stock that are registered under Section 12 of the Securities Exchange Act of 1934, as amended, (the “Exchange Act”) there shall be substituted for each share of Common Stock available upon vesting of the Award Amount granted under this Agreement the number and class of shares into which each outstanding share of Common Stock shall be converted pursuant to such Change in Control.  

6.    Issuance.  The Company will issue Shares for the vested Award Amount at the end of the Grant Period. The Company shall promptly (within ten (10) days of the end of the Grant Period) cause to be issued Shares registered in the name of Participant or in the name of Participant’s legal representatives, beneficiaries or heirs, as the case may be, evidencing such vested whole Shares (less any Shares withheld to pay withholding taxes).  The value of any fractional Shares shall be paid in cash at the same time.         

Notwithstanding the foregoing, if there is a Change in Control in connection with which the holders of Common Stock receive consideration that does not consist solely of shares of common stock that are registered under Section 12 of the Exchange Act, payment of the Award Amount to the Participant shall be in the form of cash rather than Shares.  

Upon the issuance of Shares or payment under this Section, Participant’s Award Amount shall be cancelled.

7.    Dividend Equivalents.  The Company shall not pay dividend equivalents on the Award Amount.
8.    Miscellaneous.
(a)    Income Tax Matters.
(i)    In order to comply with all applicable federal or state income tax laws or regulations, the Company may take such action as it deems appropriate to ensure that all applicable federal or state payroll, withholding, income or other taxes, which are the sole and absolute responsibility of Participant, are withheld or collected from Participant.
(ii)    In accordance with the terms of the Plan, and such rules as may be adopted under the Plan, Participant may elect to satisfy Participant’s federal and state income tax withholding obligations arising from the receipt of the Shares (including but not limited to the payment of dividend equivalents) by having the Company withhold a portion of the Shares otherwise to be delivered having a Fair Market Value and/or cash otherwise to be paid equal to the amount of such taxes.  The Company will not deliver any fractional Shares but will pay, in lieu thereof, the Fair Market Value of such fractional Shares.  Participant’s election must be made on or before the date that the amount of tax to be withheld is determined.
(iii)    To the extent a payment is not paid within the short-term deferral period and is not exempt from Section 409A of the Internal Revenue Code of 1986, as amended and any regulations, rules, or guidance thereunder (the “Code”) (such as the rule exempting payments made following an involuntary termination of up to two times pay) then Section 409A of the Code shall apply.  The Company intends this Agreement to comply with Section 409A of the Code and will interpret this Agreement in a manner that complies with Section 409A of the Code.  For example, the term “termination” shall be interpreted to mean a separation from service under section 409A of the Code and the six-month delay rule shall apply if applicable.  Notwithstanding the foregoing, although the intent is to comply with section 409A of the Code, Participant shall be responsible for all taxes and penalties under this Agreement (the Company and its employees shall not be responsible for such taxes and penalties).

(b)    Clawback.  This Award Agreement, and any amounts received hereunder, shall be subject to recovery or other penalties pursuant to (i) any Company clawback policy, as may be adopted or amended from time to time, or (ii) any applicable law, rule or regulation or applicable stock exchange rule, including, without limitation, Section 304 of the Sarbanes-Oxley Act of 2002, Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act and any NYSE Listing Rule adopted pursuant thereto.
(c)    Plan Provisions Control.  In the event that any provision of the Agreement conflicts with or is inconsistent in any respect with the terms of the Plan, the terms of the Plan shall control.  Any term not otherwise defined in this Agreement shall have the meaning ascribed to it in the Plan.
(d)    Rationale for Grant.  The Award Amount granted pursuant to this Agreement is intended to offer Participant an incentive to remain under the employment of the Company and to put forth maximum efforts in future services for the success of the Company’s business.  The Award Amount is not intended to compensate Participant for past services.  

(e)    No Rights of Stockholders.  Neither Participant, Participant’s legal representative nor a permissible assignee of this award shall have any of the rights and privileges of a stockholder of the Company with respect to the Shares, unless and until such Shares have been issued in accordance with the terms hereof.
(f)    No Right to Employment.  The issuance of the Award Amount or the Shares shall not be construed as giving Participant the right to be retained in the employ of the Company or an Affiliate, nor will it affect in any way the right of the Company or an Affiliate to terminate such employment at any time, with or without cause.  In addition, the Company or an Affiliate may at any time dismiss Participant from employment free from any liability or any claim under the Plan or the Agreement.  Nothing in the Agreement shall confer on any person any legal or equitable right against the Company or any Affiliate, directly or indirectly, or give rise to any cause of action at law or in equity against the Company or an Affiliate.  The award granted hereunder shall not form any part of the wages or salary of Participant for purposes of severance pay or termination indemnities, irrespective of the reason for termination of employment.  Under no circumstances shall any person ceasing to be an employee of the Company or any Affiliate be entitled to any compensation for any loss of any right or benefit under the Agreement or Plan which such employee might otherwise have enjoyed but for termination of employment, whether such compensation is claimed by way of damages for wrongful or unfair dismissal, breach of contract or otherwise.  By participating in the Plan, Participant shall be deemed to have accepted all the conditions of the Plan and the Agreement and the terms and conditions of any rules and regulations adopted by the Committee and shall be fully bound thereby.
(g)    Governing Law.  The validity, construction and effect of the Plan and the Agreement, and any rules and regulations relating to the Plan and the Agreement, shall be determined in accordance with the internal laws, and not the law of conflicts, of the State of Delaware.  Participant hereby submits to the nonexclusive jurisdiction and venue of the federal or state courts of Delaware to resolve any and all issues that may arise out of or relate to the Plan or the Agreement.
(h)    Severability.  If any provision of the Agreement is or becomes or is deemed to be invalid, illegal or unenforceable in any jurisdiction or would disqualify the Agreement under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to applicable laws, or if it cannot be so construed or deemed amended without, in the determination of the Committee, materially altering the purpose or intent of the Plan or the Agreement, such provision shall be stricken as to such jurisdiction or the Agreement, and the remainder of the Agreement shall remain in full force and effect.
(i)    No Trust or Fund Created.  Participant shall have no right, title, or interest whatsoever in or to any investments that the Company, its Subsidiaries, and/or its Affiliates may make to aid it in meeting its obligations under the Plan.  Neither the Plan nor the Agreement shall create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between the Company or any Affiliate and Participant or any other person.
(j)    Headings.  Headings are given to the Sections and subsections of the Agreement solely as a convenience to facilitate reference.  Such headings shall not be deemed in any way material or relevant to the construction or interpretation of the Agreement or any provision thereof.
(k)    Securities Matters.  The Company shall not be required to deliver Shares until the requirements of any federal or state securities or other laws, rules or regulations (including the rules of any securities exchange) as may be determined by the Company to be applicable are satisfied.Exhibit

Exhibit 10.1

WHOLE FOODS MARKET
2009 STOCK INCENTIVE PLAN
TIME-BASED RESTRICTED SHARE UNIT AWARD AGREEMENT

RECITALS
A.    Whole Foods Market, Inc. (the “Company”) has adopted the Whole Foods Market 2009 Stock Incentive Plan (the “Plan”) for the purpose of attracting and retaining the services of selected Team Members, Directors, and Consultants who contribute to the Company’s success by their ability, ingenuity, and industry and enabling such individuals to participate in the long-term success and growth of the Company by giving them a proprietary interest in the Company through the grant of certain equity-based Awards.
B.    Pursuant to Section 3.2 of the Plan, the Compensation Committee of the Board of Directors or, in the event that the Compensation Committee of the Board is not then authorized to act in accordance with the terms of the Plan, the Board (each as the case may be acting in its capacity as Plan Administrator of the Plan and hereinafter referred to as the “Committee”), is authorized, in its sole and absolute discretion, to determine those Team Members, Directors and Consultants to whom Awards will be granted under the Plan.
C.    Grantee is expected to render substantial future services to the Company or a Subsidiary Corporation, and this Restricted Share Unit Award Agreement (this “Agreement”) is executed pursuant to, and is intended to carry out the purposes of, the Plan.
D.    All capitalized terms in this Agreement shall have the meaning assigned to them in the Plan.
NOW, THEREFORE, it is hereby agreed as follows:
1.Award of Restricted Share Units.  The Company hereby grants to Grantee an Award of Restricted Share Units (“RSUs”).  An RSU is an Award representing an unfunded, unsecured right to receive a share of Common Stock of the Company, which right is subject to restrictions, as set forth in this Agreement, until vested.  
Grantee:     
Award Date:     
Number of RSUs under Award:   
Restrictions on RSUs.  Except as otherwise provided in the Plan and this Agreement, the restrictions on Grantee’s unvested RSUs are that the RSUs shall be subject to forfeiture by Grantee if Grantee fails to satisfy the vesting conditions set forth below.
2.Vesting of RSUs.  The RSUs awarded hereunder shall vest, and the restrictions on such RSUs shall lapse, only if Grantee remains in continuous service with the Company or a Subsidiary Corporation until the applicable anniversary of the Award Date, as set forth below (each, a “Vesting Date”).
	
	
	(i)

	(ii)

	(iii)

	(iv)

Notwithstanding the foregoing, all unvested RSUs shall vest, and the restrictions on such RSUs shall immediately lapse upon the death or Disability of Grantee.  Furthermore, notwithstanding the foregoing, in the event that Grantee’s employment or service with the Company and all Subsidiary Corporations is terminated prior to a Vesting Date for any reason other than death, Disability, or Cause, and the Company and Grantee have entered or do enter into a separation agreement, the terms of which provide for 

immediate or accelerated vesting of the RSUs or negotiation for the immediate or accelerated vesting thereof, then notwithstanding such termination of employment or service and notwithstanding the terms of any such separation agreement, no unvested RSU shall become payable prior to the applicable Settlement Date, as such term is defined in Section 3 hereof, and furthermore,  settlement of any such unvested RSU shall be contingent on Grantee’s compliance with the terms of such separation agreement (including any restrictive covenants therein).  In the event that a period set forth in any such separation agreement during which Grantee is subject to fulfillment of the conditions set forth therein (including any restrictive covenants) shall lapse prior to a Settlement Date, no settlement of such RSU shall occur prior to the applicable Settlement Date.  If Grantee does not comply with the terms of such separation agreement (including any restrictive covenants therein) during any period prior to a Vesting Date, any remaining RSUs shall be immediately forfeited on the first date on which the Committee makes a determination of such noncompliance.
3.Settlement of RSUs.  Each vested RSU shall be settled during the earliest of the following periods:  (a)  if applicable, the 90-day period following Grantee’s date of death; (b) if applicable, the 90-day period following the date as of which Grantee is determined to be Disabled; or (c) the period beginning on the applicable Vesting Date and ending on the later of:  (i) the last day of the calendar year in which such Vesting Date occurs or (ii) the 15th day of the third calendar month following the applicable Vesting Date (each, a “Settlement Date”).  The Company will settle vested RSUs by issuing to Grantee, on a one-for-one basis, shares of Common Stock of the Company.   In no event shall Grantee be permitted to designate the taxable year in which settlement of an RSU shall occur.  
4.Dividend Equivalent Rights.  Grantee is hereby granted a dividend equivalent right to accompany each RSU.  Upon payment of a dividend to a holder of shares of Common Stock of the Company, Grantee will be credited with a book entry in an amount equal to the amount of such per share dividend payment, multiplied by the number of RSUs granted pursuant to this Agreement that have not been settled prior to the record date on which such dividends are declared.  Upon each Vesting Date, Grantee shall vest in the number of dividend equivalent rights credited hereunder that are attributable to the RSUs that vest on such Vesting Date and shall thereafter receive a cash payment equal to the amount of such dividend equivalent rights, such cash payment to be made on the Settlement Date on which such RSUs are settled, as provided in Section 3 hereof. 
5.Compliance with Laws and Regulations. Notwithstanding any other provision of the Plan or the Agreement to the contrary, the grant, vesting and holding of the Shares by Grantee is expressly conditioned upon compliance with the Securities Act and all applicable state securities laws.  Grantee agrees to cooperate with the Company to ensure compliance with such laws.
6.Representations and Warranties of Grantee.  Grantee represents and warrants to the Company that Grantee has received a copy of the Plan and has read and understands the terms of the Plan and this Agreement, and agrees to be bound by their terms and conditions.  Grantee acknowledges that there are tax consequences that occur upon the settlement of RSUs, and that Grantee should consult a tax advisor prior to such time.
7.Restrictions on Transfer.  Grantee may not sell, assign, pledge as security or otherwise transfer or encumber the unvested RSUs, whether voluntary or involuntary, and if involuntary, whether by process of law in any civil or criminal suit, action or proceeding, whether in the nature of an insolvency or bankruptcy proceeding or otherwise.  
8.No Right to Continue Service.  Nothing in the Plan or this Agreement shall confer on Grantee any right to continue in the service of, or relationship with, the Company or a Subsidiary Corporation, or limit in any way the right of the Company or a Subsidiary Corporation to terminate Grantee’s service at any time, with or without cause.
9.Tax Consequences.  
(a)    Adverse Tax Consequences.  The Company shall issue to Grantee IRS Form W-2 or 1099, as applicable, or the equivalent thereof, reflecting the amount to be reported by Grantee as compensation income for the calendar year(s) in which the Settlement Date(s) occur.  Grantee is ultimately liable and responsible for all taxes owed by Grantee in connection with his or her receipt of the Award, regardless of any action the Company takes with respect to any tax withholding obligations arising hereunder.  The Company makes no representation or undertaking regarding the treatment of any tax withholding in connection with the grant of the Award or payments made pursuant to this Agreement.  The Company does not commit and is under no obligation to structure the Award to reduce or eliminate the Participant's tax liability.
(b)    Payment of Withholding Taxes.  The settlement of RSUs, and payment of any dividend equivalent rights to which Grantee is entitled, on each Settlement Date shall be automatically subject to withholding.  The Participant hereby acknowledges his or her understanding that the Company's obligations under this Agreement are fully contingent on Grantee first satisfying this Section 9.  Therefore, a failure of Grantee to reasonably satisfy this Section 9, as determined by the Company in its sole and absolute discretion, shall result in the termination and expiration of this Agreement and the Company's obligations hereunder.

(c)    Compliance with the Code.  The Award and this Agreement are intended to comply with Section 409A of the Code.  Notwithstanding any other provision in the Plan or this Agreement to the contrary, in the event the terms of this Agreement would subject Grantee to taxes or penalties under Section 409A, the Company and Grantee shall cooperate diligently to amend the terms of this Agreement to avoid such Section 409A penalties to the extent possible, and/or to adopt such amendments to this Agreement or take such other actions (including amendments and actions with retroactive effect) as the Committee determines are necessary or appropriate for the Award to comply with Section 409A.
10.Interpretation.  Any dispute regarding the interpretation of this Agreement shall be submitted by Grantee or the Company to the Plan Administrator for review. The resolution of such a dispute by the Plan Administrator shall be final and binding on the Company and Grantee.
11.Entire Agreement.  This Agreement is subject to the terms of the Plan, which is incorporated herein by reference. This Agreement and the Plan constitute the entire agreement of the parties and supersede all prior undertakings and agreements with respect to the subject matter hereof.  If any inconsistency should exist between the nondiscretionary terms and conditions of this Agreement and the Plan, the Plan shall govern and control.
12.Notices.  Any notice required to be given or delivered to the Company under the terms of this Agreement shall be in writing and addressed to the Corporate Secretary of the Company at its principal corporate offices. Any notice required to be given or delivered to Grantee shall be in writing and addressed to Grantee at the address indicated below or to such other address as such party may designate in writing from time to time to the Company. All notices shall be deemed to have been given or delivered upon: (a) personal delivery; (b) five (5) days after deposit in the United States mail by certified or registered mail (return receipt requested); (c) one (1) business day after deposit with any return receipt express courier (prepaid); or (d) one (1) business day after transmission by facsimile or telecopier.
13.Successors and Assigns. The Company may assign any of its rights or obligations under this Agreement. This Agreement shall be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement shall be binding upon Grantee’s transferees.
14.Governing Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of Texas without giving effect to its conflict of law principles.  If any provision of this Agreement is determined by a court of law to be illegal or unenforceable, then such provision will be enforced to the maximum extent possible and the other provisions will remain fully effective and enforceable.

IN WITNESS WHEREOF, the Company has caused this Agreement to be executed in duplicate by its duly authorized representative and Grantee has executed this Agreement in duplicate, effective as of the Award Date.

	
		
	WHOLE FOODS MARKET, INC.

	 
	 

	By:   
	 

	 
	 

	 
	 

	GRANTEE

	 
	 

	 
	 

	 
	 

	Address:  c/o 550 Bowie Street, Austin, TX 78703

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