Document:

Intrepid Potash, Inc. 2008 Equity Incentive Plan

 Exhibit 10.1 
 INTREPID POTASH, INC. 
 2008 EQUITY INCENTIVE PLAN 
 (Adopted April 20, 2008) 
 (Approved by
the Company’s stockholders on April 20, 2008) 

 TABLE OF CONTENTS 
  

			
	 	  	Page
		
	 1.        ESTABLISHMENT AND PURPOSE
	  	1
	 1.1      Establishment
	  	1
	 1.2      Purpose
	  	1
		
	 2.        DEFINITIONS
	  	1
		
	 3.        PLAN ADMINISTRATION
	  	7
	 3.1      General
	  	7
	 3.2      Delegation by the Committee
	  	8
	 3.3      Limitations on Authority
	  	8
	 3.4      Deferral Arrangement
	  	8
	 3.5      No Liability
	  	8
	 3.6      Book Entry
	  	8
		
	 4.        STOCK SUBJECT TO THE PLAN
	  	9
	 4.1      Number of Shares
	  	9
	 4.2      Individual Award Limits.
	  	9
	 4.3      Share Counting
	  	9
		
	 5.        ELIGIBILITY AND PARTICIPATION
	  	9
		
	 6.        STOCK OPTIONS
	  	9
	 6.1      Grant of Options
	  	9
	 6.2      Award Agreement
	  	10
	 6.3      Exercise of Option
	  	10
	 6.4      Termination of Service
	  	11
	 6.5      Limitations on Incentive Stock Options
	  	11
	 6.6      Transferability
	  	11
	 6.7      Family Transfers
	  	12
	 6.8      Rights of Holders of Options
	  	12
		
	 7.        STOCK APPRECIATION RIGHTS
	  	12
	 7.1      Grant of Stock Appreciation Rights
	  	12
	 7.2      Award Agreement
	  	12
	 7.3      Exercise of Stock Appreciation Right
	  	13
	 7.4      Effect of Exercise
	  	13
	 7.5      Termination of Service
	  	13
	 7.6      Transferability
	  	13
		
	 8.        RESTRICTED STOCK AND RESTRICTED STOCK UNITS
	  	14
	 8.1      Grant of Restricted Stock or Restricted Stock Units
	  	14
	 8.2      Award Agreement
	  	14
	 8.3      Restrictions on Transfer
	  	14
	 8.4      Forfeiture; Other Restrictions
	  	14

  

					
	INTREPID POTASH, INC. 2008 EQUITY INCENTIVE PLAN	  	i	  	

			
	 8.5      Restricted Stock Units
	  	14
	 8.6      Termination of Service
	  	14
	 8.7      Stockholder Privileges
	  	15
		
	 9.        QUALIFIED PERFORMANCE BASED COMPENSATION
	  	15
	 9.1      Grant or Vesting of Award Subject to Objective Performance Goals
	  	15
	 9.2      Establishment of Performance Goals
	  	15
	 9.3      Achievement of Performance Goals
	  	15
	 9.4      Committee to Comply with Section 162(m)
	  	16
		
	 10.      OTHER STOCK-BASED AWARDS
	  	16
		
	 11.      DIVIDENDS AND DIVIDEND EQUIVALENTS
	  	16
		
	 12.      TAX WITHHOLDING
	  	16
		
	 13.      PARACHUTE LIMITATIONS
	  	17
		
	 14.      EFFECT OF CHANGES IN CAPITALIZATION
	  	18
	 14.1    Changes in Stock
	  	18
	 14.2    Change of Control
	  	18
	 14.3    Reorganization in Which the Company Is the Surviving Entity and in Which No Change of Control
Occurs
	  	19
	 14.4    Adjustment
	  	19
	 14.5    No Limitations on the Company
	  	19
		
	 15.      REQUIREMENTS OF LAW
	  	19
	 15.1    General
	  	19
	 15.2    Rule 16b-3
	  	20
		
	 16.      GENERAL PROVISIONS
	  	20
	 16.1    Disclaimer of Rights
	  	20
	 16.2    Nontransferability of Awards
	  	21
	 16.3    Changes in Accounting or Tax Rules
	  	21
	 16.4    Nonexclusivity of the Plan
	  	21
	 16.5    Captions
	  	21
	 16.6    Other Award Agreement Provisions
	  	21
	 16.7    Other Employee Benefits
	  	21
	 16.8    Severability
	  	22
	 16.9    Governing Law
	  	22
	 16.10 Section 409A
	  	22
		
	 17.      AMENDMENT, MODIFICATION AND TERMINATION
	  	22
	 17.1    Amendment, Modification, and Termination
	  	22
	 17.2    Awards Previously Granted
	  	23
		
	 18.      STOCKHOLDER APPROVAL; EFFECTIVE DATE OF PLAN
	  	23

  

					
	INTREPID POTASH, INC. 2008 EQUITY INCENTIVE PLAN	  	ii	  	

			
		
	 19.      DURATION
	  	23
		
	 20.      EXECUTION
	  	23

  

					
	INTREPID POTASH, INC. 2008 EQUITY INCENTIVE PLAN	  	iii	  	

 INTREPID POTASH, INC. 
 2008 EQUITY INCENTIVE PLAN 
  

	1.	ESTABLISHMENT AND PURPOSE 

 1.1
Establishment. Intrepid Potash, Inc., a Delaware corporation (the “Company”), hereby establishes the Intrepid Potash, Inc. 2008 Equity Incentive Plan (the
“Plan”). The Plan permits the grant of incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock, restricted stock units, and other stock-based and cash awards in accordance
with the terms hereof. 
 1.2 Purpose. The Plan is intended to enhance the Company’s and its Affiliates’ (as defined
herein) ability to attract and retain highly qualified officers, directors, key employees, and other persons, and to motivate such persons to serve the Company and its Affiliates and to expend maximum effort to improve the business results and
earnings of the Company, by providing to such persons an opportunity to acquire or increase a direct proprietary interest in the operations and future success of the Company. 
  

	2.	DEFINITIONS 

 For purposes of interpreting the Plan
and related documents (including Award Agreements), the following definitions shall apply: 
 2.1 “Affiliate” means
with respect to the Company, (i) any company or other trade or business that controls, is controlled by or is under common control with the Company within the meaning of Rule 405 of Regulation C under the Securities Act, including without
limitation, any Subsidiary, and (ii) any corporation or other entity controlling, controlled by, or under common control with the Company, including any member of an affiliated group of which the Company is a common parent corporation or
subsidiary corporation (within the meaning of Section 424 of the Code). 
 2.2 “Award” means a grant under the
Plan of an Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit, or Other Stock-Based Award. 
 2.3 “Award
Agreement” means the written or electronic agreement setting forth the terms and conditions applicable to each Award. The Award Agreement is subject to the terms and conditions of the Plan. In the event of any inconsistency between the
provisions of the Plan and any Award Agreement, the provisions of the Plan shall govern, except to the extent the Plan would be considered to provide an additional benefit as determined under Sections 409A and 424 of the Code. 
 2.4 “Benefit Arrangement” means as defined in Section 13. 
 2.5 “Board” or “Board of Directors” means the board of directors of Intrepid Potash, Inc. 
  

					
	INTREPID POTASH, INC. 2008 EQUITY INCENTIVE PLAN	  		  	

 2.6 “Business Combination” means as defined in Section 2.8. 
 2.7 “Cause” means, as determined by the Committee and unless otherwise provided in an employment, consulting or other services
agreement, if any, between the Service Provider and the Company or an Affiliate, (i) any willful breach of any material written policy of the Company or an Affiliate that results in material and demonstrable liability or loss to the Company or
the Affiliate; (ii) engaging in any conduct involving moral turpitude that causes material and demonstrable injury, monetarily or otherwise, to the Company or an Affiliate, including, but not limited to, misappropriation or conversion of assets
of the Company or an Affiliate (other than immaterial assets); (iii) a conviction of or entry of a plea of nolo contendere to a felony; or (iv) a material breach by the Service Provider of any term of any employment, consulting or other
services, confidentiality, intellectual property or non-competition agreements, if any, between the Service Provider and the Company or an Affiliate. No act or failure to act by the Service Provider shall be deemed “willful” if done, or
omitted to be done, by him or her in good faith and with the reasonable belief that his or her action or omission was in the best interest of the Company or an Affiliate. 
 2.8 “Change of Control” means and shall be deemed to have occurred upon the occurrence of: 
 (a) the acquisition by any individual, entity, or group (within the meaning of Sections 13(d)(3) or 14(d)(2) of the Exchange Act (a “Person”) of “beneficial ownership” (within the
meaning of Rule 13d-3 promulgated under the Exchange Act) of more than 50% of the combined voting power of the Company’s then outstanding securities entitled to vote generally in the election of directors, other than any acquisition
(1) directly from, or by, the Company, (2) by a trustee or other fiduciary holding securities under an employee benefit plan of the Company or any of its subsidiaries, or (3) by Robert P. Jornayvaz III, Hugh E. Harvey Jr. or J. Landis
Martin (collectively the “Principals”), or by any “group” (within the meaning of Section 13(d)(3) of the Exchange Act) that is controlled by one or more of the Principals; 
 (b) the individual directors of the Board as of the Effective Date (the “Incumbent Directors”) cease to constitute
at least two-thirds of the Board; provided, however, that for purposes of this paragraph, any new director whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least a majority of the
Incumbent Directors shall be considered an Incumbent Director; 
 (c) consummation, in one transaction or a series or related
transactions, of a reorganization, merger, or consolidation of the Company or sale or other disposition, direct or indirect, of all or substantially all of the assets of the Company (a “Business Combination”), in each case,
unless, following such Business Combination, the Persons who were the “beneficial owners” of outstanding voting securities of the Company immediately prior to such Business Combination “beneficially own,” by reason of such
ownership of the Company’s voting securities immediately before the Business Combination, more than 50% of the combined voting power of the company resulting from such Business Combination (including, without limitation, a company which as a
result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through one or 

  

					
	INTREPID POTASH, INC. 2008 EQUITY INCENTIVE PLAN	  	2	  	

 
more subsidiaries) in substantially the same proportions as their ownership of the outstanding voting securities of the Company immediately prior to such
Business Combination; or 
 (d) approval by those Persons holding the voting securities of the Company of a complete
liquidation or dissolution of the Company. 
 A Person will not be deemed to be a member of a “group” for purposes of this
definition solely by virtue of becoming party to an agreement with one or more Principals that requires such Person to vote the voting stock of the Company in a manner specified by the Principals. 
 Notwithstanding the foregoing, solely with respect to any Award that is subject to Section 409A of the Code and payable upon a Change of Control,
the term “Change of Control” shall mean an event described in one or more of the foregoing provisions of this definition, but only if it also constitutes a “change in control event” within the meaning of Treas. Reg.
Section 1.409A-3(i)(5). 
 2.9 “Code” means the Internal Revenue Code of 1986, as amended, and the regulations,
interpretations, and administrative guidance issued thereunder. 
 2.10 “Committee” means the Compensation Committee
of the Board or any committee designated by the Board to administer the Plan, or if no committee is or has yet been appointed, the Board. The Compensation Committee or the Board may designate one or more subcommittees to (i) consist solely of
persons who satisfy the applicable requirements of any stock exchange or national market system on which the shares of Stock may be listed, (ii) consist solely of persons who qualify as an “outside director” within the meaning of
Section 162(m) of the Code, and (iii) consist solely of persons who qualify as a “non-employee director” within the meaning of Rule 16b-3 promulgated under the Exchange Act. 
 2.11 “Company” means Intrepid Potash, Inc., a Delaware corporation. 
 2.12 “Corporate Event” means an event described in Section 14.1. 
 2.13 “Disabled” or “Disability” means, unless otherwise provided in an employment, consulting or other
services agreement, if any, between the Participant and the Company or an Affiliate, the Participant is unable to perform each of the essential duties of such Participant’s position by reason of a medically determinable physical or mental
impairment which is potentially permanent in character or which can be expected to last for a continuous period of not less than 12 months; provided that, the following shall apply: 
 (a) With respect to rules regarding expiration of an Incentive Stock Option following termination of the Participant’s Service,
Disability has the meaning set forth in Section 22(e)(3) of the Code. 
 (b) With respect to any Award subject to
Section 409A of the Code, the Participant is: (i) unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last
for a continuous period of not less than 12 months; (ii) by reason of any 

  

					
	INTREPID POTASH, INC. 2008 EQUITY INCENTIVE PLAN	  	3	  	

 
medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less
than 12 months, is receiving income replacement benefits for a period of not less than three months under an accident or health plan covering employees of the Participant’s employer; or (iii) determined to be totally disabled by the Social
Security Administration. 
 2.14 “Dividend Equivalent” means a right granted under Section 11. 
 2.15 “Effective Date” means the effective date of the Plan, April 20, 2008, the date the Plan was approved by the Board.

 2.16 “Employee” means any individual who is a common-law employee of the Company or an Affiliate determined in
accordance with the Company’s standard personnel policies and practices. 
 2.17 “Exchange Act” means the U.S.
Securities Exchange Act of 1934, as it may be amended from time to time, or any successor act thereto. 
 2.18 “Exercise
Price” means the price at which a share of Stock may be purchased pursuant to the exercise of an Option. 
 2.19
“Fair Market Value” means the value of a share of Stock as of a particular date, determined as follows: (a) the closing sale price reported for such share on the national securities exchange or national market system on
which such stock is principally traded, or if no sale of shares is reported for such trading day, on the next preceding day on which a sale was reported, or (b) if the shares of Stock are not then listed on a national securities exchange or
national market system, or the value of such shares is not otherwise determinable, such value as determined by the Committee in good faith in its sole discretion consistent with the requirements under Section 409A of the Code; notwithstanding
the foregoing, the Fair Market Value of a share of Stock for purposes of Awards with a Grant Date as of the Company’s initial public offering shall be the price per share of Stock in such initial public offering, as determined by the Committee.

 2.20 “Family Member” means a person who is a spouse, former spouse, child, stepchild, grandchild, parent,
stepparent, grandparent, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother, sister, brother-in-law, or sister-in-law, including adoptive relationships, of the Participant, a trust in which any one or more of these
persons have more than fifty percent (50%) of the beneficial interest, a foundation in which any one or more of these persons (or the Participant) control the management of assets, and any other entity in which one or more of these persons (or
the Participant) own more than fifty percent (50%) of the voting interests; provided, however, that to the extent required by applicable law, the term Family Member shall be limited to a person who is a spouse, former spouse, child, stepchild,
grandchild, parent, stepparent, grandparent, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother, sister, brother-in-law, or sister-in-law, including adoptive relationships, of the Participant or a trust or foundation for the
exclusive benefit of any one or more of these persons. 
 2.21 “Good Reason” means, unless otherwise provided in an
employment, consulting or other services agreement, if any, between the Service Provider and the Company or an 

  

					
	INTREPID POTASH, INC. 2008 EQUITY INCENTIVE PLAN	  	4	  	

 
Affiliate, (i) a material reduction in the Service Provider’s base salary, (ii) a material diminution of the Service Provider’s title,
office, position or authority, excluding for this purpose an action not taken in bad faith and which is remedied within twenty (20) days after receipt of written notice thereof given by the Service Provider, (iii) the assignment to the
Service Provider of any duties inconsistent with the Service Provider’s position (including status or reporting requirements), authority, or material responsibilities, or the removal of the Participant’s authority or material
responsibilities, excluding for this purpose an action not taken in bad faith and which is remedied by the Company within twenty (20) days after receipt of notice thereof given by the Service Provider, (iv) a transfer of the Service
Provider’s primary workplace by more than fifty (50) miles from the current workplace, or (v) a material breach of any term of any employment, consulting or other services agreement, if any, between the Service Provider and the
Company or an Affiliate by the Company which is not remedied within twenty (20) days after receipt of written notice thereof given by the Service Provider. 
 2.22 “Grant Date” means, as determined by the Committee, the latest to occur of (i) the date on which the Committee approves an Award, (ii) the date on which the recipient of an Award
first becomes eligible to receive an Award under Section 5, or (iii) such other date as may be specified by the Committee in the Award Agreement. 
 2.23 “Grant Price” means the per share exercise price of a Stock Appreciation Right granted to a Participant under Section 7. 
 2.24 “Incentive Stock Option” means an Option to purchase shares of Stock designated as an Incentive Stock Option that is
intended to meet the requirements of Section 422 of the Code. 
 2.25 “Incumbent Directors” means as defined in
Section 2.8. 
 2.26 “Minimum Statutory Withholding” means as defined in Section 12. 
 2.27 “Non-Qualified Stock Option” means any Option other than an Incentive Stock Option. 
 2.28 “Option” means an option to purchase one or more shares of Stock at a stated or formula price for a specified period of
time. An Option granted under the Plan shall be either an Incentive Stock Option or a Non-Qualified Stock Option. 
 2.29 “Other
Agreement” means as defined in Section 13. 
 2.30 “Other Stock-Based Award” means an Award that is
granted to a Participant under Section 10. 
 2.31 “Parachute Payment” means as defined in Section 13.

 2.32 “Participant” means any eligible individual as defined in Section 5 who is granted an Award under the
Plan. 
 2.33 “Person” means as defined in Section 2.8. 
  

					
	INTREPID POTASH, INC. 2008 EQUITY INCENTIVE PLAN	  	5	  	

 2.34 “Plan” means this Intrepid Potash, Inc. 2008 Equity Incentive Plan, as
amended from time to time. 
 2.35 “Restricted Stock” means an Award of shares of Stock granted under Section 8.

 2.36 “Restricted Stock Unit” or “RSU” means a bookkeeping entry representing the
equivalent of shares of Stock granted under Section 8. 
 2.37 “Restriction Period” means the period during
which Restricted Stock and Restricted Stock Units are subject to a substantial risk of forfeiture (based upon the passage of time, the achievement of performance goals or upon the occurrence of other events as determined by the Committee, in its
discretion), as provided in Sections 8.3 and 8.4. 
 2.38 “Securities Act” means the U.S. Securities Act of 1933, as
it may be amended from time to time, or any successor act thereto. 
 2.39 “Service” means service as a Service
Provider to the Company or an Affiliate. Unless otherwise stated in the applicable Award Agreement, a Participant’s change in position or duties shall not result in interrupted or terminated Service, so long as such Participant continues to be
a Service Provider to the Company or an Affiliate. Subject to the preceding sentence, whether a termination of Service shall have occurred for purposes of the Plan shall be determined by the Committee, which determination shall be final, binding and
conclusive. Notwithstanding the foregoing, solely with respect to any Award that is subject to Section 409A of the Code and payable upon a termination of Service, a Participant shall be considered to have terminated Service with the Company or
an Affiliate only when the Participant incurs a “separation from service” with respect to the Company or an Affiliate within the meaning of Section 409A(a)(2)(A)(i) of the Code. 
 2.40 “Service Provider” means an employee, officer or director of the Company or an Affiliate, or a consultant or adviser
currently providing services to the Company or an Affiliate. 
 2.41 “Stock” or “Common
Stock” means a share of Intrepid Potash, Inc., common stock, $0.001 par value per share. 
 2.42 “Stock Appreciation
Right” or “SAR” means an Award granted under Section 7. 
 2.43 “Subsidiary”
means any “subsidiary corporation” of the Company within the meaning of Section 424(f) of the Code. 
 2.44
“Substitute Awards” means Awards granted in substitution for, or in assumption of, outstanding awards previously granted by an entity acquired by the Company or a Subsidiary or an Affiliate or with which the Company or
Subsidiary or Affiliate combines. The terms and conditions of any Substituted Awards shall comply with the requirements for substitutions of awards made in connection with a corporate transaction or certain other adjustments that are not treated as
modifications under Treas. Reg. Section 1.424-1 and Section 409A of the Code, as applicable. 
  

					
	INTREPID POTASH, INC. 2008 EQUITY INCENTIVE PLAN	  	6	  	

	3.	PLAN ADMINISTRATION 

 3.1 General. The
Plan shall be administered by the Committee, which shall have full power and authority to take all actions and to make all determinations as are required or permitted under the Plan. In accordance with the provisions of the Plan, the Committee
shall, in its sole discretion, select the Participants from among the eligible individuals described in Section 5, determine the Awards to be made pursuant to the Plan, or shares of Stock to be issued thereunder and the time at which such
Awards are to be made, fix the Option Price (or Grant Price), period and manner in which an Option (or Stock Appreciation Right) becomes exercisable, establish the duration and nature of Restricted Stock or Restricted Stock Unit restrictions,
establish the terms and conditions applicable to, and establish such other terms and requirements of the various compensation incentives under the Plan as the Committee may deem necessary or desirable and consistent with the terms of the Plan. The
Committee shall determine the form of the Award Agreements with Participants that shall evidence the particular provisions, terms, conditions, rights and duties of the Company and the Participants with respect to Awards granted pursuant to the Plan,
which provisions need not be identical except as may be provided herein. The Committee may amend, modify, or supplement the terms of any outstanding Award including, but not limited to, amending an Award or exercising discretion under an Award or
under the Plan to: (i) accelerate the date on which an Award becomes vested, exercisable, or transferable, (ii) extend the term of any Award, including the period following the termination of the Service Provider’s Service to the
Company during which the Award shall remain outstanding, (iii) waive any conditions with regard to vesting, exercisability, or transferability of an Award, and (iv) recognize differences in local law, tax policy, or custom with regard to
Awards made to foreign nations or individuals who are employed outside the United States. Notwithstanding the foregoing, no amendment or modification may be made to an outstanding Option or Stock Appreciation Right that (i) causes the Option or
Stock Appreciation Right to become subject to Section 409A of the Code, (ii) reduces the Exercise Price or Grant Price, either by lowering the Exercise Price or Grant Price or by canceling the outstanding Option or Stock Appreciation Right
and granting a replacement Option or Stock Appreciation Right with a lower Exercise Price or Grant Price, or (iii) would be treated as a repricing under the rules of the exchange upon which shares of Stock of the Company trade, without, with
respect to item (i), the Participant’s written prior approval, and with respect to items (ii) and (iii), without the approval of the stockholders of the Company, provided, that, appropriate adjustments may be made to outstanding Options
and Stock Appreciation Rights pursuant to Section 14. 
 As a condition to any Award, the Committee shall have the right, at its
discretion, to require Participants to return to the Company Awards previously granted under the Plan. Subject to the terms and conditions of the Plan, any such subsequent Award shall be upon such terms and conditions as are specified by the
Committee at the time the new Award is granted. The Company may retain the right in an Award Agreement to cause a forfeiture of the gain realized by a Participant on account of actions taken by the Participant in violation or breach of or in
conflict with any non-competition agreement, any agreement prohibiting solicitation of employees or clients of the Company or any Affiliate thereof or any confidentiality obligation with respect to the Company or any Affiliate thereof or otherwise
in competition with the Company or any Affiliate thereof, to the extent specified in such Award Agreement applicable to the Participant. Furthermore, the Committee may annul an Award if the Participant is an 

  

					
	INTREPID POTASH, INC. 2008 EQUITY INCENTIVE PLAN	  	7	  	

 
employee of the Company or an Affiliate thereof and is terminated for Cause as defined in the applicable Award Agreement or the Plan, as applicable.

 The Committee may from time to time adopt such rules and regulations for carrying out the purposes of the Plan as it may deem proper and
in the best interests of the Company. The Committee may correct any defect, supply any omission or reconcile any inconsistency in the Plan or in any Award Agreement entered into hereunder in the manner and to the extent it shall deem expedient and
it shall be the sole and final judge of such expediency. The determinations, interpretations and other actions of the Committee pursuant to the provisions of the Plan shall be binding and conclusive for all purposes and on all persons. 

3.2 Delegation by the Committee. The Committee may, from time to time, delegate, to specified officers of the Company, the power
and authority to grant or document Awards under the Plan to specified groups of eligible individuals, subject to such restrictions and conditions as the Committee, in its sole discretion, may impose. The delegation shall be as broad or as narrow as
the Committee shall determine. To the extent that the Committee has delegated the authority to determine certain terms and conditions of an Award, all references in the Plan to the Committee’s exercise of authority in determining such terms and
conditions shall be construed to include the officer or officers to whom the Committee has delegated the power and authority to make such determination. However, any delegation (a) shall not result in the loss of an exemption under
Rule 16b-3(d) for Awards granted to Participants subject to Section 16 of the Exchange Act in respect of the Company, (b) will not cause Awards intended to qualify as “performance-based” compensation under Code
Section 162(m) to fail to so qualify, (c) will not result in a related-person transaction with an executive officer required to be disclosed under Item 404(a) of Regulation S-K (in accordance with Instruction 5.a.ii thereunder)
under the Exchange Act and (d) shall be permitted under Section 157 and other applicable provisions of the Delaware General Corporation Law. 
 3.3 Limitations on Authority. The Committee shall, in exercising its discretion under the Plan, comply with all contractual and legal obligations of the Company or the Committee in effect from
time to time, whether contained in the Company’s charter, bylaws, or other binding contract, or in the Compensation Committee’s charter, or in applicable law. 
 3.4 Deferral Arrangement. The Committee may permit or require the deferral of any Award payment into a deferred compensation arrangement, subject to such rules and procedures as it may
establish in accordance with Section 409A of the Code, which may include provisions for the payment or crediting of interest or Dividend Equivalents, including converting such credits into deferred Stock units. 
 3.5 No Liability. No member of the Board or of the Committee shall be liable for any action or determination made in good
faith with respect to the Plan, any Award or any Award Agreement. 
 3.6 Book Entry. Notwithstanding any other provision
of this Plan to the contrary, the Company may elect to satisfy any requirement under this Plan for the delivery of stock certificates through the use of electronic or other forms of book-entry. 
  

					
	INTREPID POTASH, INC. 2008 EQUITY INCENTIVE PLAN	  	8	  	

	4.	STOCK SUBJECT TO THE PLAN 

 4.1 Number of
Shares. Subject to adjustment as provided in Section 14, the maximum number of shares of Stock available for issuance under the Plan shall be 5,000,000 shares. Subject to adjustment as provided in Section 14,
5,000,000 shares of Stock available for issuance under the Plan shall be available for issuance pursuant to Incentive Stock Options. Such maximum numbers may be increased from time to time by approval of the Board and by the stockholders of the
Company if, in the opinion of counsel for the Company, stockholder approval is required. Stock issued or to be issued under the Plan shall be authorized but unissued shares; or, to the extent permitted by applicable law, issued shares that have been
reacquired by the Company. 
 4.2 Individual Award Limits. Subject to adjustment as provided in Section 14, the
maximum number or value of shares of Stock that may be covered by an Award granted under the Plan (other than Substitute Awards) to a single Participant in any calendar year shall not exceed the lesser of 300,000 shares or $5,000,000. 
 4.3 Share Counting. The Committee may adopt reasonable counting procedures to ensure appropriate counting, avoid double
counting (as, for example, in the case of tandem Awards) and make adjustments in accordance with Section 14. If the Exercise Price of any Option granted under the Plan, or if pursuant to Section 12 the tax withholding obligation of any
Participant with respect to an Option or other Award, is satisfied by tendering shares of Stock to the Company (either by actual deliver or by attestation) or by withholding shares of Stock, the number of shares of Stock issued net of the shares of
Stock tendered or withheld shall be deemed delivered for purposes of determining the maximum number of shares of Stock available for delivery under the Plan. To the extent that an Award under the Plan is canceled, expired, forfeited, settled in
cash, settled by issuance of fewer shares than the number underlying the Award, or otherwise terminated without delivery of shares to the Participant, the shares of Stock retained or returned to the Company will also be available under the Plan.

  

	5.	ELIGIBILITY AND PARTICIPATION 

 Individuals eligible
to participate in this Plan include all Service Providers of the Company, or any Affiliate; provided, however, to the extent required under Section 409A of the Code, an Affiliate of the Company shall include only an entity in which the
Company possesses at least twenty percent (20%) of the total combined voting power of the entity’s outstanding voting securities or such other threshold ownership percentage permitted or required under Section 409A of the Code.
Subject to the provisions of this Plan, the Committee may, from time to time, select from all eligible individuals, those individuals to whom Awards shall be granted. An eligible person may receive more than one Award, subject to such restrictions
as are provided herein. 
  

	6.	STOCK OPTIONS 

 6.1 Grant of
Options. Subject to the provisions of this Plan, Options may be granted to Participants in such number, and upon such terms, and at any time and from time to time as shall be determined by the Committee, it its sole discretion;
provided that Incentive Stock 
  

					
	INTREPID POTASH, INC. 2008 EQUITY INCENTIVE PLAN	  	9	  	

 
Options may be granted only to eligible Employees of the Company or of any parent corporation or subsidiary corporation (as permitted by Section 422 of
the Code). 
 6.2 Award Agreement. Each Option granted under the Plan shall be evidenced by an Award Agreement
that shall specify the Exercise Price, the number of shares of Stock covered by the Option, the maximum duration of the Option, the conditions upon which an Option shall become vested and exercisable and such other provisions as the Committee shall
determine, consistent with the terms of the Plan. The Award Agreement shall specify whether the Option is intended to be an Incentive Stock Option or a Non-Qualified Stock Option. 
 (a) Exercise Price. The Exercise Price for each Option shall be as determined by the Committee and shall be specified in the
Award Agreement. The Exercise Price shall be: not less than one hundred percent (100%) of the Fair Market Value of a share of Stock on the Grant Date; provided, however, that the foregoing minimum Exercise Price shall not apply to
Substitute Awards. In no case shall the Exercise Price of any Option be less than the par value of a share of Stock. 
 (b)
Number of Shares. Each Award Agreement shall state that it covers a specified number of shares of Stock, as determined by the Committee. 
 (c) Term. Each Option shall terminate as set forth in the Award
Agreement and all rights to purchase shares of Stock shall expire at such time as the Committee shall determine at the time of grant; provided, however, no Option shall be exercisable later than the tenth (10th) anniversary of the Grant Date. 
 (d) Restrictions on Exercise. The Award Agreement shall set forth any installment or other restrictions on exercise of the Option during the term of the Option. Each Option shall become exercisable and shall vest over such
period of time, or upon such events, as determined by the Committee. 
 6.3 Exercise of Option. 
 (a) Manner of Exercise. An Option granted hereunder shall be exercised, in whole or in part, by providing written or
electronic notice, on a form provided by the Company, to an employee as designated by the Company, specifying the number of shares of Stock to be purchased and accompanied by full payment of the Exercise Price for the shares and satisfaction of any
tax withholding requirements. 
 (b) Payment. A condition to the issuance or other delivery of shares of Stock
as to which an Option shall be exercised shall be the payment of the Exercise Price and satisfaction of any tax withholding requirements. The Exercise Price of an Option shall be payable to the Company in full, in any method permitted under the
Award Agreement, including: (i) in cash or in cash equivalents acceptable to the Company; (ii) by tendering (either by actual delivery or by attestation) unrestricted shares of Stock already owned by the Participant (for at least six
(6) months or such other period as may be required by the Committee in order to comply with applicable law and to avoid adverse accounting consequences) on the date of surrender to the extent the shares of Stock have a Fair Market Value on the
date of surrender equal to the aggregate Exercise Price of the shares as to which such Option shall be exercised, 

  

					
	INTREPID POTASH, INC. 2008 EQUITY INCENTIVE PLAN	  	10	  	

 
provided that, in the case of an Incentive Stock Option, the right to make payment in the form of already owned shares of Stock may be authorized only at the
time of grant, (iii) any other method approved or accepted by the Committee in its sole discretion, including, but not limited to a cashless (broker-assisted) exercise, or (iv) any combination of the foregoing. Unless otherwise determined
by the Committee, all payments under all of the methods indicated above shall be paid in United States dollars. 
 (c)
Delivery of Shares. Promptly after the exercise of an Option by a Participant and the payment in full of the Exercise Price, such Participant shall be entitled to the issuance of certificates evidencing such Participant’s
ownership of the shares of Stock purchased upon exercise of the Option. Notwithstanding any other provision of this Plan to the contrary, the Company may elect to satisfy any requirement under this Plan for the delivery of certificates through the
use of electronic or other forms of book-entry. 
 6.4 Termination of Service. Each Award Agreement shall set
forth the extent to which the Participant shall have the right to exercise the Option following termination of the Participant’s Service. Such provisions shall be determined in the sole discretion of the Committee, need not be uniform among all
Options issued pursuant to the Plan, and may reflect distinctions based on the reasons for termination of Service. 
 6.5 Limitations
on Incentive Stock Options. 
 (a) Initial Exercise. The aggregate Fair Market Value of the
shares of Stock with respect to which Incentive Stock Options are exercisable for the first time by a Participant in any calendar year, under the Plan or otherwise, shall not exceed $100,000. For this purpose, the Fair Market Value of the shares of
Stock shall be determined as of the Grant Date and each Incentive Stock Option shall be taken into account in the order granted. 
 (b) Ten Percent Stockholders. An Incentive Stock Option granted to a Participant who is the holder of record of more than ten percent (10%) of the combined voting power of all classes of stock of the Company shall have an
Exercise Price at least equal to one hundred and ten percent (110%) of the Fair Market Value of a share of Stock on the Grant Date of the Option and the term of the Option shall not exceed five (5) years. 
 (c) Notification of Disqualifying Disposition. If any Participant shall make any disposition of shares of Stock acquired
pursuant to the exercise of an Incentive Stock Option under the circumstances described in Section 421(b) of the Code (relating to certain disqualifying dispositions), the Participant shall notify the Company of such disposition within ten
(10) days thereof. 
 (d) Limitations on Exercise. No Incentive Stock Option shall be exercisable as an
Incentive Stock Option more than three (3) months after the Participant ceases to be an Employee for any reason other than death or Disability, or more than one (1) year after the Participant ceases to be an Employee due to death or
Disability. 
 6.6 Transferability. Except as provided in Section 6.7, during the lifetime of a Participant,
only the Participant (or, in the event of legal incapacity or incompetency, the Participant’s guardian or legal representative) may exercise an Option. Except as provided in 

  

					
	INTREPID POTASH, INC. 2008 EQUITY INCENTIVE PLAN	  	11	  	

 
Section 6.7, no Option shall be assignable or transferable by the Participant to whom it is granted, other than by will or the laws of descent and
distribution. 
 6.7 Family Transfers. If authorized in the applicable Award Agreement, a Participant may
transfer, not for value, all or part of an Option to any Family Member. For the purpose of this Section 6.7, a “not for value” transfer is a transfer which is (i) a gift, (ii) a transfer under a domestic relations order in
settlement of marital property rights; or (iii) unless applicable law does not permit such transfers, a transfer to an entity in which more than fifty percent (50%) of the voting interests are owned by Family Members (or the Participant)
in exchange for an interest in that entity. Following a transfer under this Section 6.7, any such Option shall continue to be subject to the same terms and conditions as were applicable immediately prior to transfer. Subsequent transfers of
transferred Options are prohibited except to Family Members of the original Participant in accordance with this Section 6.7 or by will or the laws of descent and distribution. The events of termination of Service under an Option shall continue
to be applied with respect to the original Participant, following which the Option shall be exercisable by the transferee only to the extent, and for the periods specified in the applicable Award Agreement. 
 6.8 Rights of Holders of Options. Unless otherwise stated in the applicable Award Agreement, an individual holding or
exercising an Option shall have none of the rights of a stockholder of the Company (for example, the right to receive cash or dividend payments or distributions attributable to the subject shares of Stock or to direct the voting of the shares of
Stock) until the shares of Stock covered thereby are fully paid and issued to such individual. Except as provided in Section 14 hereof, no adjustment shall be made for dividends, distributions or other rights for which the record date is prior
to the date of such issuance. 
  

	7.	STOCK APPRECIATION RIGHTS 

 7.1 Grant of Stock
Appreciation Rights. Subject to the provisions of this Plan, Stock Appreciation Rights may be granted to Participants at any time and from time to time as shall be determined by the Committee. The Committee may grant
freestanding Stock Appreciation Rights, Stock Appreciation Rights that are granted in tandem with an Option, or any combination thereof. 
 7.2 Award Agreement. Each Stock Appreciation Right shall be evidenced by an Award Agreement that shall specify the Grant Price, the number of shares of Stock covered by the Stock Appreciation Right, the maximum
duration of the Stock Appreciation Right, the conditions upon which the Stock Appreciation Right shall become vested and exercisable and such other provisions as the Committee shall determine, consistent with the terms of the Plan. 
 (a) Grant Price. The Grant Price for each Stock Appreciation Right shall be determined by the Committee and shall be
specified in the Award Agreement. Other than with respect to Substitute Awards, the Grant Price shall not be less than one hundred percent (100%) of the Fair Market Value of a share of Stock on the Grant Date of the Stock Appreciation Right.

 (b) Number of Shares. Each Award Agreement shall state that it covers a specified number of shares of Stock,
as determined by the Committee. 
  

					
	INTREPID POTASH, INC. 2008 EQUITY INCENTIVE PLAN	  	12	  	

 (c) Term. Each Stock
Appreciation Right shall terminate and all rights with respect to the Stock Appreciation Right shall expire at such time as the Committee shall determine at the time of grant; provided, however, no Stock Appreciation Rights shall be
exercisable later than the tenth (10th) anniversary of the Grant Date. 
 (d) Restrictions on Exercise. The Award Agreement shall set forth any installment or other restrictions on exercise of the
Stock Appreciation Right during its term. Each Stock Appreciation Right shall become exercisable and shall vest over such period of time, or upon such events, as determined by the Committee (including based on achievement of performance goals or
future service requirements). 
 7.3 Exercise of Stock Appreciation Right. A Participant desiring to exercise a
Stock Appreciation Right shall give written or electronic notice, on a form provided by the Company, of such exercise to the Company with the information the Company deems reasonably necessary to exercise the Stock Appreciation Right. If a Stock
Appreciation Right is issued in tandem with an Option, except as may otherwise be provided by the Committee, the Stock Appreciation Right shall be exercisable during the period that its related Option is exercisable. Upon the exercise of a Stock
Appreciation Right, a Participant shall be entitled to receive payment from the Company in an amount determined by multiplying: 
 (a) The excess of the Fair Market Value of a share of Stock on the date of exercise over the Grant Price; by 
 (b)
The number of shares of Stock with respect to which the Stock Appreciation Right is exercised. 
 At the discretion of the Committee, the
payment upon exercise may be in cash, shares of Stock or any combination thereof, or in any other manner approved by the Committee in its sole discretion. The Committee’s determination as to the form of settlement shall be set forth in the
Award Agreement. 
 7.4 Effect of Exercise. If a Stock Appreciation Right is issued in tandem with an Option, the
exercise of the Stock Appreciation Right or the related Option will result in an equal reduction in the number of corresponding shares of Stock subject to the Option or Stock Appreciation Right that were granted in tandem with such Stock
Appreciation Right and Option. 
 7.5 Termination of Service. Each Award Agreement shall set forth the extent to
which the Participant shall have the right to exercise the Stock Appreciation Right following termination of the Participant’s Service. Such provisions shall be determined in the sole discretion of the Committee, need not be uniform among all
Stock Appreciation Rights issued pursuant to the Plan, and may reflect distinctions based on the reasons for termination of Service. Any Stock Appreciation Right issued in tandem with an Option shall be exercisable following termination of the
Participant’s Service to the same extent that its related Option is exercisable following the Participant’s termination of Service. 
 7.6 Transferability. A Stock Appreciation Right shall only be transferable upon the same terms and conditions with respect to transferability as are specified in Sections 6.6 and 6.7 with respect to Options.

  

					
	INTREPID POTASH, INC. 2008 EQUITY INCENTIVE PLAN	  	13	  	

	8.	RESTRICTED STOCK AND RESTRICTED STOCK UNITS 

 8.1
Grant of Restricted Stock or Restricted Stock Units. Subject to the provisions of this Plan, the Committee at any time and from time to time, may grant shares of Restricted Stock or Restricted Stock Units to Participants
in such amounts as the Committee shall determine. The 
 8.2 Award Agreement. Each grant of Restricted Stock or
Restricted Stock Units shall be evidenced by an Award Agreement that shall specify the Restriction Period, the number of shares of Restricted Stock or the number of Restricted Stock Units granted and such other provisions as the Committee shall
determine. 
 8.3 Restrictions on Transfer. Except as provided in this Plan or an Award Agreement, the shares of
Restricted Stock and Restricted Stock Units may not be sold, transferred, pledged, assigned or otherwise alienated or hypothecated until the end of the Restriction Period established by the Committee and specified in the Award Agreement (and in the
case of Restricted Stock Units until the date of delivery or other payment), or upon earlier satisfaction or any other conditions, as specified by the Committee, in its sole discretion. All rights with respect to the Restricted Stock or Restricted
Stock Units granted to a Participant shall be available during his or her lifetime only to such Participant, except as otherwise provided in an Award Agreement or at any time by the Committee. 
 8.4 Forfeiture; Other Restrictions. The Committee shall impose such other conditions and restrictions on any shares of
Restricted Stock or Restricted Stock Units as it may deem advisable including a requirement that the Participant pay a specified amount to purchase each share of Restricted Stock, restrictions based upon the achievement of specific performance
goals, time-based restrictions on vesting following the attainment of the performance goals, time-based restrictions or restrictions under applicable laws or under the requirements of any stock exchange or market upon which shares of Stock are then
listed or traded, or holding requirements or sale restrictions placed on the shares of Stock by the Company upon vesting of such Restricted Stock or Restricted Stock Units. 
 8.5 Restricted Stock Units. A holder of Restricted Stock Units shall have no rights other than those of a general creditor of
the Company. Restricted Stock Units represent an unfunded and unsecured obligation of the Company, subject to the terms and conditions of the applicable Award Agreement. Restricted Stock Units may be settled in cash or Stock, as determined by the
Committee and set forth in the Award Agreement. 
 8.6 Termination of Service. Unless otherwise provided by the
Committee in the applicable Award Agreement, upon the termination of a Participant’s Service with the Company or an Affiliate, any shares of Restricted Stock or Restricted Stock Units held by such Participant that have not vested, or with
respect to which all applicable restrictions and conditions have not lapsed, shall immediately be deemed forfeited, and the Participant shall have no further rights with respect to such Awards, including but not limited to any right to vote
Restricted Stock or any right to receive dividends or Dividend Equivalents with respect to Restricted Stock or Restricted Stock Units. 
  

					
	INTREPID POTASH, INC. 2008 EQUITY INCENTIVE PLAN	  	14	  	

 8.7 Stockholder Privileges. Unless otherwise determined by the Committee and
set forth in the Award Agreement: 
 (a) A Participant holding shares of Restricted Stock shall generally have the rights of
stockholder to vote the shares or Restricted Stock during the Restriction Period. The Committee may provide in an Award Agreement that the holder of such Restricted Stock shall be entitled to receive ordinary cash dividends actually paid with
respect to the Restricted Stock in accordance with Section 11. 
 (b) A Participant holding Restricted Stock Units shall
have no rights of a stockholder of the Company with respect to the Restricted Stock Units. The Committee may provide in an Award Agreement that the holder of such Restricted Stock Units shall be entitled to receive Dividend Equivalents in accordance
with Section 11. 
  

	9.	QUALIFIED PERFORMANCE BASED COMPENSATION 

 9.1
Grant or Vesting of Award Subject to Objective Performance Goals. The Committee may, in its discretion, condition the grant, vesting, or payment of an Award on the attainment of one or more pre-established objective
performance goals, in accordance with the “qualified performance based compensation” exception to Code Section 162(m). 
 9.2
Establishment of Performance Goals. All performance goals established pursuant to this Article 9 shall be objective and shall be established by the Committee within 90 days after the beginning of the period of service to
which the performance goal relates (and in no event after passage of more than 25% of the period to which the performance goal relates). Performance goals may include alternate and multiple goals and shall be based on one or more of the following
criteria: (a) total shareholder return; (b) return on assets, return on equity, or return on capital employed; (c) measures of profitability such as earnings per share, corporate or business-unit net income, net income before
extraordinary or one-time items, earnings before interest and taxes, or earnings before interest, taxes, depreciation and amortization; (d) cash flow from operations; (e) gross or net revenues or gross or net margins; (f) levels of
operating expense or other expense items reported on the income statement; (g) measures of customer satisfaction and customer service; (h) safety; (i) annual or multi-year average production growth; (j) efficiency or productivity
measures such as annual or multi-year absolute or per-unit operating and maintenance costs; (k) satisfactory completion of a major project or organizational initiative with specific criteria set in advance by the Committee; (l) debt ratios
or other measures of credit quality or liquidity; (m) strategic asset sales or acquisitions in compliance with specific criteria set in advance by the Committee; (n) sales and marketing measures, such as annual or multi-year
“net-back” sales or the introduction of new products in accordance with specific goals set in advance by the Committee; and (o) staffing and retention. The performance goals applicable to a particular Award shall be set forth by the
Committee in the Award Agreement for such Award. 
 9.3 Achievement of Performance Goals. The Committee shall
certify in writing prior to the grant, vesting, or payment of any Award that the applicable performance goals have been satisfied. Except as may otherwise be provided herein or as may otherwise be contained in the Award Agreement (which provisions
shall comply with Section 162(m)), in the event that the 

  

					
	INTREPID POTASH, INC. 2008 EQUITY INCENTIVE PLAN	  	15	  	

 
performance goals are not satisfied, the Award shall not be granted or become vested or payable, as applicable. 
 9.4 Committee to Comply with Section 162(m). Notwithstanding anything to the contrary herein, the “Committee,”
for purposes of this Section 9, shall consist solely of two or more persons who qualify as “outside directors” within the meaning of Section 162(m) of the Code. 
  

	10.	OTHER STOCK-BASED AWARDS 

 From time to time during
the duration of this Plan, the Committee may, in its sole discretion, adopt one or more incentive compensation arrangements for Participants pursuant to which the Participants may (i) acquire shares of Stock under the Plan, whether by purchase,
outright grant, or otherwise, or (ii) receive an Award, whether payable in cash or in Stock, the value of which is determined, in whole in part, based on the value of Common Stock. Any such arrangements shall be subject to the general
provisions of this Plan and all cash payments or shares of Stock issued pursuant to such arrangements shall be made under this Plan. 
  

	11.	DIVIDENDS AND DIVIDEND EQUIVALENTS 

 Subject to the
terms of the Plan and any applicable Award Agreement, a Participant shall, if so determined by the Committee, be entitled to receive, currently, or on a deferred basis, dividends or Dividend Equivalents, with respect to the shares of Stock covered
by the Award. The Committee may provide that any dividends paid on shares of Stock subject to an Award must be reinvested in additional shares of Stock, which may or may not be subject to the same vesting conditions and restrictions applicable to
the Award. Notwithstanding the award of Dividend Equivalents or dividends, a Participant shall not be entitled to receive a special or extraordinary dividend or distribution unless the Committee shall have expressly authorized such receipt. All
distributions, if any, received by a Participant with respect to an Award as a result of any split, Stock dividend, combination of shares of Stock, or other similar transaction shall be subject to the restrictions applicable to the original Award.

  

	12.	TAX WITHHOLDING 

 The Company or any Affiliate, as
the case may be, shall have the right to deduct from payments of any kind otherwise due to a Participant any federal, state, or local taxes, domestic or foreign, of any kind required by law with respect to the vesting of or other lapse of
restrictions applicable to Awards or upon the issuance of any shares of Stock or payment of any kind upon the exercise of any Options or Stock Appreciation Rights. At the time of such vesting, lapse, payment, or exercise, the Participant shall pay
to the Company or Affiliate, as the case may be, any amount that the Company or Affiliate may reasonably determine to be necessary to satisfy such withholding obligation. 
 Subject to the prior approval of the Company or the Affiliate, which may be withheld by the Company or the Affiliate, as the case may be, in its sole discretion, the Participant may elect to have shares of Stock
withheld or to deliver shares to satisfy the minimum statutory withholding rates for federal, state and local income taxes and employment taxes that are applicable to supplemental taxable income (“Minimum Statutory
Withholding”) obligations. 

  

					
	INTREPID POTASH, INC. 2008 EQUITY INCENTIVE PLAN	  	16	  	

 
The Participant may elect to satisfy Minimum Statutory Withholding obligations, in whole or in part, (i) by causing the Company or the Affiliate to
withhold shares of Stock otherwise issuable to the Participant or (ii) by delivering to the Company or the Affiliate shares of Stock already owned by the Participant (for at least six (6) months or such other period as may be required by
the Committee in order to comply with applicable law and to avoid adverse accounting consequences). The shares of Stock so delivered or withheld shall have an aggregate Fair Market Value not in excess of such withholding obligations. The Fair Market
Value of the shares of Stock used to satisfy such withholding obligation shall be determined by the Committee as of the date that the amount of tax to be withheld is to be determined. A Participant who has made an election pursuant to this
Section 12 may satisfy his or her withholding obligation only with shares of Stock that are not subject to any repurchase, forfeiture, unfulfilled vesting, or other similar requirements. 
  

	13.	PARACHUTE LIMITATIONS 

 Notwithstanding any other
provision of this Plan or of any other agreement, contract, or understanding heretofore or hereafter entered into by a Participant with the Company or any Affiliate, except an agreement, contract, or understanding that expressly or impliedly
modifies or excludes application of this Section 13 (an “Other Agreement”), and notwithstanding any formal or informal plan or other arrangement for the direct or indirect provision of compensation to the Participant
(including groups or classes of participants or beneficiaries of which the Participant is a member), whether or not such compensation is deferred, is in cash, or is in the form of a benefit to or for the Participant (a “Benefit
Arrangement”), if the Participant is a “disqualified individual,” as defined in Section 280G(c) of the Code, any Awards held by that Participant and any right to receive any payment or other benefit under this Plan shall
not become exercisable or vested (i) to the extent that such right to exercise, vesting, payment, or benefit, taking into account all other rights, payments, or benefits to or for the Participant under this Plan, all Other Agreements, and all
Benefit Arrangements, would cause any payment or benefit to the Participant under this Plan to be considered a “parachute payment” within the meaning of Section 280G(b)(2) of the Code as then in effect (a “Parachute
Payment”) and (ii) if, as a result of receiving a Parachute Payment, the aggregate after-tax amounts received by the Participant from the Company under this Plan, all Other Agreements, and all Benefit Arrangements would be less
than the maximum after-tax amount that could be received by the Participant without causing any such payment or benefit to be considered a Parachute Payment. In the event that the receipt of any such right to exercise, vesting, payment, or benefit
under this Plan, in conjunction with all other rights, payments, or benefits to or for the Participant under any Other Agreement or any Benefit Arrangement would cause the Participant to be considered to have received a Parachute Payment under this
Plan that would have the effect of decreasing the after-tax amount received by the Participant as described in clause (ii) of the preceding sentence, then the Committee shall have the right, in its sole discretion, to designate those rights,
payments, or benefits under this Plan, any Other Agreements, and any Benefit Arrangements to be reduced or eliminated so as to avoid having the payment or benefit to the Participant under this Plan be deemed to be a Parachute Payment. 
  

					
	INTREPID POTASH, INC. 2008 EQUITY INCENTIVE PLAN	  	17	  	

	14.	EFFECT OF CHANGES IN CAPITALIZATION 

 14.1
Changes in Stock. The number of shares of Stock for which Awards may be made under the Plan shall be proportionately increased or decreased for any increase or decrease in the number of shares of Stock on account of any
recapitalization, reclassification, split, reverse split, combination, exchange, dividend or other distribution payable in shares of Stock, or for any other increase or decrease in such shares of Stock effected without receipt of consideration by
the Company occurring after the Effective Date (any such event hereafter referred to as a “Corporate Event”). In addition, subject to the exception set forth in the second sentence of Section 14.4, the number and kind of
shares for which Awards are outstanding shall be proportionately increased or decreased for any increase or decrease in the number of shares of Stock on account of any Corporate Event. Any such adjustment in outstanding Options or Stock Appreciation
Rights shall not increase the aggregate Exercise Price or Grant Price payable with respect to shares that are subject to the unexercised portion of an outstanding Option or Stock Appreciation Right, as applicable, and the adjustment shall comply
with the requirements under Section 409A of the Code. The conversion of any convertible securities of the Company shall not be treated as an increase in shares effected without receipt of consideration. Notwithstanding the foregoing, in the
event of any distribution to the Company’s stockholders of securities of any other entity or other assets (including an extraordinary cash dividend but excluding a non-extraordinary dividend payable in cash or in stock of the Company) without
receipt of consideration by the Company, the Company shall proportionately adjust (i) the number and kind of shares subject to outstanding Awards and/or (ii) the Exercise Price per share of outstanding Options and the Grant Price of
outstanding Stock Appreciation Rights to reflect such distribution. Notwithstanding the foregoing, upon the occurrence of any event or transaction contemplated in this Section 14.1, any changes contemplated herein shall be modified to the
minimum extent necessary, in the sole discretion of the Committee, to avoid any tax that may otherwise become due under Section 409A of the Code. 
 14.2 Change of Control. Subject to the exception set forth in the second sentence of Section 14.4, upon a Change of Control, the Committee may take any one or more of the following actions with
respect to non-vested Awards as of the date of the Change of Control: (i) provide that any or all such outstanding Awards shall be fully vested, exercisable, and/or payable regardless of whether all vesting conditions relating to length of
service, attainment of performance goals, or otherwise have been satisfied; (ii) provide that any or all such outstanding Awards shall become fully vested, exercisable, and/or payable if, within a reasonable period of time not to exceed 18
months after the consummation of a Change of Control, a Participant’s Service is terminated by either the Company, an Affiliate or a successor in interest to the Company or an Affiliate without Cause or by the Participant for Good Reason; or
(iii) make any other provision for such outstanding Awards as the Committee deems appropriate, including, but not limited to, providing that the vesting conditions relating to length of service, attainment of performance goals, or otherwise
shall continue unaffected. The Committee may provide that any Awards shall expire at the time of the Change of Control; provided, however, that the Committee shall not provide for expiration of outstanding Awards unless it has also provided that
such Awards are fully vested, exercisable, and/or payable upon the Change of Control. With respect to Options or Stock Appreciation Rights, the Committee may provide that the holder thereof shall receive a cash payment in exchange for the
cancellation of such Award, equal to the excess, if any, between the Fair Market Value of a share of Stock immediately prior to the Change of 

  

					
	INTREPID POTASH, INC. 2008 EQUITY INCENTIVE PLAN	  	18	  	

 
Control and the per share exercise price set forth in the Award Agreement, multiplied by the number of shares of Stock then covered by the Award. Provision
may also be made in writing in connection with a Change of Control for the assumption or continuation of the Awards theretofore granted, or for the substitution for such Awards for new options, restricted stock or other equity awards relating to the
stock or units of a successor entity, or a parent or subsidiary thereof, with appropriate adjustments as to the number of shares or units and option and grant prices, in which event the Awards theretofore granted shall continue in the manner and
under the terms so provided. The Committee need not take the same action with respect to all outstanding Awards or to all outstanding Awards of the same type. 
 14.3 Reorganization in Which the Company Is the Surviving Entity and in Which No Change of Control Occurs. Subject to the exception set forth in the second sentence of Section 14.4, if the Company
shall be the surviving entity in any reorganization, merger, or consolidation of the Company with one or more other entities and in which no Change of Control occurs, any Award theretofore made pursuant to the Plan shall pertain to and apply solely
to the securities to which a holder of the number of securities subject to such Award would have been entitled immediately following such reorganization, merger, or consolidation, and, in the case of Options and Stock Appreciation Rights, with a
corresponding proportionate adjustment of the Exercise Price or Grant Price per share so that the aggregate Exercise Price or Grant Price thereafter shall be the same as the aggregate Exercise Price or Grant Price of the shares of Stock remaining
subject to the Option or Stock Appreciation Right immediately prior to such reorganization, merger, or consolidation. Subject to any contrary language in an Award Agreement evidencing any other Award, any restrictions applicable to such Award shall
apply as well to any replacement shares of Stock received by the Participant as a result of the reorganization, merger or consolidation. Notwithstanding the foregoing, upon the occurrence of any event or transaction contemplated in this
Section 14.3, any changes contemplated herein shall be modified to the minimum extent necessary, in the sole discretion of the Committee, to avoid any tax that may otherwise become due under Section 409A of the Code. 
 14.4 Adjustment. Adjustments under Section 14 related to shares of Stock or securities of the Company shall be made by the Committee,
whose determination in that respect shall be final, binding and conclusive. The Committee may provide in the Award Agreements at the time of Award, or any time thereafter with the consent of the Participant, for different provisions to apply to an
Award in place of those described in Sections 14.1, 14.2 and 14.3. Notwithstanding the foregoing, any different provisions or changes to provisions contemplated herein shall be modified to the minimum extent necessary, in the sole discretion of the
Committee, to avoid any tax that may otherwise become due under Section 409A of the Code. 
 14.5 No Limitations on the
Company. The making of Awards pursuant to the Plan shall not affect or limit in any way the right or power of the Company to make adjustments, reclassifications, reorganizations, or changes of its capital or business structure
or to merge, consolidate, dissolve, or liquidate, or to sell or transfer all or any part of its business or assets. 
  

	15.	REQUIREMENTS OF LAW 

 15.1
General. The Company shall not be required to issue or sell any shares of Stock under any Award if the issuance or sale of such shares would constitute a violation by the 

  

					
	INTREPID POTASH, INC. 2008 EQUITY INCENTIVE PLAN	  	19	  	

 
Participant, any other individual exercising an Option or Stock Appreciation Right, or the Company of any provisions of any law or regulation of any
governmental authority, including without limitation any federal or state securities laws or regulations. If at any time the Company shall determine, in its discretion, that the listing, registration or qualification of any shares subject to an
Award upon any securities exchange or under any governmental regulatory body is necessary or desirable as a condition of, or in connection with, the issuance or purchase of shares of Stock hereunder, no shares of Stock may be issued or sold to the
Participant or any other individual exercising an Option or Stock Appreciation Right pursuant to such Award unless such listing, registration, qualification, consent or approval shall have been effected or obtained free of any conditions not
acceptable to the Company, and any delay caused thereby shall in no way affect the date of termination of the Award. Specifically, in connection with the Securities Act, upon the exercise of any Option or the delivery of any shares of Stock
underlying an Award, unless a registration statement under the Securities Act is in effect with respect to the shares of Stock covered by such Award, the Company shall not be required to issue or sell such shares of Stock unless the Committee has
received evidence satisfactory to it that the Participant or any other individual exercising an Option may acquire such shares of Stock pursuant to an exemption from registration under the Securities Act. Any determination in this connection by the
Committee shall be final, binding, and conclusive. The Company may, but shall in no event be obligated to, register any securities covered hereby pursuant to the Securities Act. The Company shall not be obligated to take any affirmative action in
order to cause the exercise of an Option or the issuance or sale of shares of Stock pursuant to the Plan to comply with any law or regulation of any governmental authority. As to any jurisdiction that expressly imposes the requirement that an Option
shall not be exercisable until the shares of Stock covered by such Option are registered or are exempt from registration, the exercise of such Option (under circumstances in which the laws of such jurisdiction apply) shall be deemed conditioned upon
the effectiveness of such registration or the availability of such an exemption. 
 15.2 Rule 16b-3. During any
time when the Company has a class of equity security registered under Section 12 of the Exchange Act, it is the intent of the Company that Awards pursuant to the Plan and the exercise of Options granted hereunder will qualify for the exemption
provided by Rule 16b-3 under the Exchange Act. To the extent that any provision of the Plan or action by the Committee does not comply with the requirements of Rule 16b-3, it shall be deemed inoperative to the extent permitted by law and deemed
advisable by the Committee, and shall not affect the validity of the Plan. In the event that Rule 16b-3 is revised or replaced, the Committee may exercise its discretion to modify this Plan in any respect necessary to satisfy the requirements of, or
to take advantage of any features of, the revised exemption or its replacement. 
  

	16.	GENERAL PROVISIONS 

 16.1 Disclaimer of
Rights. No provision in the Plan, in any Award or in any Award Agreement shall be construed to confer upon any individual the right to remain in the employ or service of the Company or any Affiliate, or to interfere in any way
with any contractual or other right or authority of the Company either to increase or decrease the compensation or other payments to any individual at any time, or to terminate any employment or other relationship between any individual and the
Company or any Affiliate. The obligation of the Company to pay any benefits pursuant to this Plan shall be interpreted as a contractual obligation to pay only 

  

					
	INTREPID POTASH, INC. 2008 EQUITY INCENTIVE PLAN	  	20	  	

 
those amounts described herein, in the manner and under the conditions prescribed herein. The Plan shall in no way be interpreted to require the Company to
transfer any amounts to a third party trustee or otherwise hold any amounts in trust or escrow for payment to any participant or beneficiary under the terms of the Plan. 
 16.2 Nontransferability of Awards. Except as provided in Sections 6.6, 6.7, and 7.6 or otherwise at the time of grant or thereafter, no right or interest of any Participant in an Award
granted pursuant to the Plan shall be assignable or transferable during the lifetime of the Participant, either voluntarily or involuntarily, or subjected to any lien, directly or indirectly, by operation of law, or otherwise, including execution,
levy, garnishment, attachment, pledge or bankruptcy, except pursuant to a domestic relations order in settlement of marital property rights. In the event of a Participant’s death, a Participant’s rights and interests in Awards shall only
be transferable by will or the laws of descent and distribution to the extent provided under this Plan, and payment of any amounts due thereunder shall be made to, and exercise of any Option or Stock Appreciation Right may be made by, the
Participant’s legal representatives, heirs or legatees. If in the opinion of the Committee a person entitled to payments or to exercise rights with respect to the Plan is unable to care for his or her affairs because of mental condition,
physical condition or age, payment due such person may be made to, and such rights shall be exercised by, such person’s guardian, conservator or other legal personal representative upon furnishing the Committee with evidence satisfactory to the
Committee of such status. 
 16.3 Changes in Accounting or Tax Rules. Except as provided otherwise at the time an
Award is granted, notwithstanding any other provision of the Plan to the contrary, if, during the term of the Plan, any changes in the financial or tax accounting rules applicable to any Award shall occur which, in the sole judgment of the
Committee, may have a material adverse effect on the reported earnings, assets or liabilities of the Company, the Committee shall have the right and power to modify as necessary, any then outstanding and unexercised Options, Stock Appreciation
Rights and other outstanding Awards as to which the applicable services or other restrictions have not been satisfied. 
 16.4
Nonexclusivity of the Plan. The adoption of the Plan shall not be construed as creating any limitations upon the right and authority of the Committee to adopt such other incentive compensation arrangements (which
arrangements may be applicable either generally to a class or classes of individuals or specifically to a particular individual or particular individuals) as the Committee in its discretion determines desirable. 
 16.5 Captions. The use of captions in this Plan or any Award Agreement is for the convenience of reference only and shall not
affect the meaning of any provision of the Plan or such Award Agreement. 
 16.6 Other Award Agreement
Provisions. Each Award Agreement may contain such other terms and conditions not inconsistent with the Plan as may be determined by the Committee, in its sole discretion. 
 16.7 Other Employee Benefits. The amount of any compensation deemed to be received by a Participant as a result of the
exercise of an Option or Stock Appreciation Right, the sale of Shares received upon such exercise, the vesting of any Restricted Stock, receipt of 

  

					
	INTREPID POTASH, INC. 2008 EQUITY INCENTIVE PLAN	  	21	  	

 
Performance Shares, distributions with respect to Restricted Stock Units or Performance Units, or Other Stock-Based Awards shall not constitute
“earnings” or “compensation” with respect to which any other employee benefits of such employee are determined, including without limitation, benefits under any pension, profit sharing, 401(k), life insurance or salary
continuation plan, except as may be specifically be provided otherwise under the terms of such other employee benefit plan or program. 
 16.8 Severability. If any provision of the Plan or any Award Agreement shall be determined to be illegal or unenforceable by any court of law in any jurisdiction, the remaining provisions hereof and thereof shall
be severable and enforceable in accordance with their terms, and all provisions shall remain enforceable in any other jurisdiction. 
 16.9
Governing Law. The validity and construction of this Plan and the Award Agreements shall be construed in accordance with and governed by the laws of the State of Delaware other than any conflicts or choice of law rule or
principle that might otherwise refer construction or interpretation of this Plan and the Award Agreements to the substantive laws of any other jurisdiction. 
 16.10 Section 409A. Notwithstanding anything in this Plan to the contrary, the Plan and Awards made under the Plan are intended to comply with the requirements imposed by
Section 409A of the Code. If any Plan provision or Award under the Plan would result in the imposition of an additional tax under Section 409A of the Code, the Company and the Participant intend that the Plan provision or Award will be
reformed to avoid imposition, to the extent possible, of the applicable tax and no action taken to comply with Section 409A of the Code shall be deemed to adversely affect the Participant’s rights to an Award. The Participant further
agrees that the Committee, in the exercise of its sole discretion and without the consent of the Participant, may amend or modify an Award in any manner and delay the payment of any amounts payable pursuant to an Award to the minimum extent
necessary to meet the requirements of Section 409A of the Code as the Committee deems appropriate or desirable. Subject to any other restrictions or limitations contained herein, in the event that a “specified employee” (as defined
under Section 409A of the Code) becomes entitled to a payment under the Plan that is subject to Section 409A of the Code on account of a “separation of service” (as defined under Section 409A oft the Code), such payment
shall not occur until the date that is six months plus one day from the date of such “separation from service.” Any amount that is otherwise payable within the six (6) month period described herein will be aggregated and paid in a
lump sum amount without interest. 
  

	17.	AMENDMENT, MODIFICATION AND TERMINATION 

 17.1
Amendment, Modification, and Termination. Subject to Sections 3.2, 16.10 and 17.2, the Board may at any time terminate, and from time to time may amend or modify the Plan provided, however, that no amendment or
modification may become effective without approval of the stockholders of the Company if stockholder approval is required to enable the Plan to satisfy any applicable statutory or regulatory requirements, or if the Company, on the advice of counsel,
determines that stockholder approval is otherwise necessary or desirable. 
  

					
	INTREPID POTASH, INC. 2008 EQUITY INCENTIVE PLAN	  	22	  	

 17.2 Awards Previously Granted. Except as otherwise may be required under
Section 16.10, notwithstanding Section 17.1 to the contrary, no amendment, modification or termination of the Plan or Award Agreement shall adversely affect in any material way any previously granted Award, without the written consent of
the Participant holding such Award. 
  

	18.	STOCKHOLDER APPROVAL; EFFECTIVE DATE OF PLAN 

 The
Plan shall be effective as of the Effective Date. Any Option that is designated as an Incentive Stock Option shall be a Nonqualified Stock Option if the Plan is not approved by the stockholders of the Company within twelve (12) months after the
Effective Date of the Plan. 
  

	19.	DURATION 

 Unless sooner terminated by the Board,
this Plan shall terminate automatically 10 years from the Effective Date. After the Plan is terminated, no Awards may be granted. Awards outstanding at the time the Plan is terminated shall remain outstanding in accordance with the terms and
conditions of the Plan and the Award Agreement. 
  

	20.	EXECUTION 

 To record adoption of the Plan by the
Board as of April 20, 2008, the Company has caused its authorized officer to execute the Plan. 
  

			
	INTREPID POTASH, INC.
		
	By:	 	/s/    James N. Whyte
		 	 James N. Whyte
 Executive Vice President of Human
Resources and Risk Management

		
	Date:	 	April 20, 2008

  

					
	INTREPID POTASH, INC. 2008 EQUITY INCENTIVE PLAN	  	23Grant Agreement

 Exhibit 10.1 
 Grant Agreement for 
 Long-Term Incentive Program Performance-Based Restricted Stock Units for
Senior 
 Executives under the Mattel, Inc. 2005 Equity Compensation Plan 
 This is a Grant Agreement between Mattel, Inc. (“Mattel”) and the individual (the “Holder”) named in the Notice of
Grant of Restricted Stock Units (the “Notice”) attached hereto as the cover page of this Grant Agreement. 
 Recitals 
 Mattel has adopted the 2005 Equity Compensation Plan (the “Plan”) for the granting to selected employees of awards based upon shares of
Common Stock of Mattel. In accordance with the terms of the Plan, the Compensation Committee of the Board of Directors (the “Committee”) has approved the execution of this Grant Agreement between Mattel and the Holder. Capitalized
terms used herein without definition shall have the meanings assigned to such terms in the Plan. 
 Restricted Stock Units 
 1. Grant. Mattel grants to the Holder the number of restricted stock units based on shares of Common Stock set forth in the Notice (the
“Units”), subject to adjustment, forfeiture and the other terms and conditions set forth below, as of the effective date of the grant (the “Grant Date”) specified in the Notice. The number of Units specified in the
Notice reflects the target number of Units that may be awarded to the Holder. The Company and the Holder acknowledge that the Units (a) are being granted hereunder in exchange for the Holder’s agreement to provide services to the Company
after the Grant Date, for which the Holder will otherwise not be fully compensated, and which the Company deems to have a value at least equal to the aggregate par value of the Shares, if any, that the Holder may become entitled to receive under
this Agreement, and (b) will, except as provided in Sections 3 and 4 hereof, be forfeited by the Holder if the Holder’s Severance occurs before the Settlement Date (as defined in Section 6, below), and are further subject to
cancellation (and any shares of Common Stock or cash delivered in settlement of the Units are subject to recapture) if the Holder engages in certain conduct detrimental to the Company, in each case as more fully set forth in this Grant Agreement and
the Plan. 
 2. Performance Criteria. Subject to the Holder’s continuous employment through the Settlement Date and
subject to Section 5 below, the Holder will earn a number of Units on the Settlement Date determined based on the achievement of annual goals related to net operating profit after taxes less a capital charge (the “Company Performance
Measure”) and the relative total shareholder return (“TSR”) during the period beginning on January 1, 2008 and ending on December 31, 2010 (the “Performance Cycle”), in each case, as determined by
the Committee. 

 3. Consequences of Severance. The consequences of the Holder’s Severance during the
Performance Cycle and before a Change in Control shall be as follows: 
  

	 	i.	In the case of a Severance for Cause, the Units shall be forfeited as of the date of the Severance. For purposes of this Agreement, the Holder’s Severance shall be considered
to be for “Cause” if it is a termination for “Cause” pursuant to an Individual Agreement to which the Holder is a party that is then in effect or, if there is no Individual Agreement in effect that defines
“Cause”, “Cause” shall have the meaning set forth in the Plan. 

  

	 	ii.	In the case of a Severance as a result of the Holder’s death or Disability after June 30, 2008, the number of Units earned shall be determined based on actual achievement
of the Company Performance Measure through the most recently completed fiscal year prior to such death or Disability and TSR (calculated as if the most recently completed fiscal year prior to such death or Disability had been the end of the
Performance Cycle); provided, however, that if such death or Disability occurs on or after July 1, 2008 and before 2009, the number of Units earned shall be based on 100% of the target award level payout for the 2008 fiscal year. Any Units
which become earned pursuant to this Section 3.ii shall be settled within 60 days of the date of death or Disability in accordance with Section 6. [For Mr. Eckert: For purposes of this Agreement, “Disability” shall
have the meaning set forth in an Individual Agreement to which the Holder is a party that is then in effect.] 

  

	 	iii.	 In the case of a Severance as a result of the Holder’s Retirement, a termination by the Company other than for Cause (as defined in Section 3.i, above) or
a termination by the Holder for Good Reason (as defined below), the number of Units earned shall be determined as follows: first, the Committee will determine the number of Units earned based on actual achievement of the Company Performance Measure
and TSR following the end of the Performance Cycle; and second, the number of Units so obtained shall be multiplied by a fraction, the numerator of which is the total number of full months elapsed from the first day of the Performance Cycle to the
Holder’s Severance and the denominator of which is the total number of months in the Performance Cycle. Such number of Units shall then be settled in accordance with Section 6 as for all other holders whose awards are settled on the
Settlement Date. For purposes of Sections 3 and 4, the Holder’s Severance shall be considered to be for “Good Reason” if it is as a result of the occurrence of any of the following events, provided that the Holder gives the Company
written notice of the intent to terminate employment within 90 days of the occurrence of such event and Mattel fails to cure such event (to the extent curable) within 30 days after receiving such notice: (a) without the express written consent
of the Holder, any material diminution in the duties, authority or responsibilities of the Holder; (b) any material failure by Mattel to comply with any of the compensation and benefits provisions in any Individual Agreement during the term of
Holder’s employment with Mattel; (c)

  

 -2- 

	 	 
any other action or inaction that constitutes a material breach of any Individual Agreement; or (d) without the Holder’s consent, any requirement
by Mattel that the Holder be based at any office or location other than an office or location in the greater Los Angeles, California area, or at an office other than Mattel’s headquarters, except for travel reasonably required in the
performance of the Holder’s responsibilities. If such event is not cured, the Holder must terminate employment within 120 days following the initial occurrence of the event giving rise to termination for Good Reason. The foregoing definition of
“Good Reason” shall apply notwithstanding any contrary definition of “Good Reason” in any Individual Agreement. 

  

	 	iv.	In all other cases, the Units shall be forfeited as of the date of the Severance. 

 4. Change in Control. If a Change in Control occurs, the Units shall not vest in accordance with the terms of Section 17 of the Plan and the number of Units earned shall be determined as follows:

  

	 	i.	If the Committee reasonably determines in good faith, prior to the occurrence of the Change in Control, that the Units will not be honored or assumed, or new rights that
substantially preserve the terms of the Units substituted therefor, by the Holder’s employer (or the parent of such employer) immediately following the Change in Control, the number of Units earned shall equal the greater of (a) the number
that equals 100% of the target award level payout and (b) the number that would have been earned based on actual achievement of the Company Performance Measure through the most recently completed fiscal year prior to such Change in Control and
TSR (calculated as if the most recently completed fiscal year prior to such Change in Control had been the end of the Performance Cycle). 

  

	 	ii.	If the Committee determines that the Units have been assumed and, before the Settlement Date, the Holder has a Severance by the Company without Cause or by the Holder for Good
Reason (as defined above) following a Change in Control, the number of Units earned shall equal the greater of (a) the number that equals 100% of the target award level payout and (b) the number that would have been earned based on actual
achievement of the Company Performance Measure through the most recently completed fiscal year prior to such Severance and TSR (calculated as if the most recently completed fiscal year prior to such Severance had been the end of the Performance
Cycle). 

 Any Units which are earned pursuant to this Section 4 shall be settled within 60 days of the Change in Control
or Severance, as applicable, in accordance with Section 6. 
 5. Termination, Rescission and Recapture. The Holder
specifically acknowledges that the Units and any Common Stock or cash delivered in settlement thereof are subject to the provisions of Section 18 of the Plan, entitled “Termination, Rescission and Recapture,” which can cause the
forfeiture of the Units and/or the recapture of any Common Stock and/or cash 

  

 -3- 

 
delivered in settlement thereof and/or the proceeds of the sale of any such Common Stock. Except as provided in the next sentence, as a condition of the
settlement of Units, the Holder will be required to certify that he or she is in compliance with the terms and conditions of the Plan (including the conditions set forth in Section 18 of the Plan) and, if a Severance has occurred, to state the
name and address of his or her then-current employer or any entity for which the Holder performs business services and his or her title, and shall identify any organization or business in which the Holder owns a greater-than-five-percent equity
interest. Section 18 of the Plan is inapplicable, and accordingly such certification shall not be required, after a Severance of the Holder that occurs within the 18-month period after a Change in Control. 
 6. Payout of Units. Within 15 business days following the Committee’s
certification of the Company Performance Measure and TSR for the Performance Cycle in the fiscal year following the end of the Performance Cycle, but in no event later than March 31st of such fiscal year (the “Settlement Date”), subject to Section 8 below, the Company shall settle each Unit by delivering to the Holder one share of Common
Stock or a cash payment equal to the Fair Market Value of a share of Common Stock, as the Company may in its sole discretion determine (and the Company may settle some Units in Common Stock and some in cash). In the case of Units settled by delivery
of Common Stock, the Company shall (a) issue or cause to be delivered to the Holder (or the Holder’s Heir, as defined below, if applicable) one or more unlegended stock certificates representing such shares, or (b) cause a book entry
for such shares to be made in the name of the Holder (or the Holder’s Heir, if applicable). In the case of the Holder’s death, the cash and/or Common Stock to be delivered in settlement of Units as described above shall be delivered to the
Holder’s beneficiary or beneficiaries (as designated in the manner determined by the Committee), or if no beneficiary is so designated or if no beneficiary survives the Holder, then the Holder’s administrator, executor, personal
representative, or other person to whom the Units are transferred by means of the Holder’s will or the laws of descent and distribution (such beneficiary, beneficiaries or other person(s), the “Holder’s Heir”). 

7. Code Section 409A. The Company intends that the Units shall not constitute “deferred compensation” within the meaning
of Section 409A of the Code and this Grant Agreement shall be interpreted based on such intent. In view of uncertainty surrounding Section 409A of the Code, however, if Mattel determines after the Grant Date that an amendment to this Grant
Agreement is necessary or advisable so that the Units will not be subject to Section 409A, or alternatively so that they comply with Section 409A, it may make such amendment, effective as of the Grant Date or at any later date, without the
consent of the Holder. 
 8. Tax Withholding. The Company shall withhold from the cash and/or Common Stock delivered in
settlement of Units shares of Common Stock having a Fair Market Value, on the Settlement Date, and/or cash, equal to the amount necessary to satisfy the minimum required withholding, if any, of any income tax, social tax, or other taxes (but
rounding up to the nearest whole number of shares). If any such taxes are required to be withheld at a date earlier than the Settlement Date, then notwithstanding any other provision of this Grant Agreement, the Company may (i) satisfy such
obligation by causing the forfeiture of a number of Units having a Fair Market Value, on such earlier date, equal to the amount necessary to satisfy the minimum 

  

 -4- 

 
required amount of such withholding, or (ii) make such other arrangements with the Holder for such withholding as may be satisfactory to the Company in
its sole discretion. 
 9. Compliance with Law. 
  

	 	i.	No shares of Common Stock shall be issued and delivered pursuant to a Unit unless and until all applicable registration requirements of the Securities Act of 1933, as amended, all
applicable listing requirements of any national securities exchange on which the Common Stock is then listed, and all other requirements of law or of any regulatory bodies having jurisdiction over such issuance and delivery, shall have been complied
with. In particular, the Committee may require certain investment (or other) representations and undertakings in connection with the issuance of securities in connection with the Plan in order to comply with applicable law. 

 

	 	ii.	If any provision of this Grant Agreement is determined to be unenforceable or invalid under any applicable law, such provision will be applied to the maximum extent permitted by
applicable law, and shall automatically be deemed amended in a manner consistent with its objectives to the extent necessary to conform to any limitations required under applicable law. Furthermore, if any provision of this Grant Agreement is
determined to be illegal under any applicable law, such provision shall be null and void to the extent necessary to comply with applicable law, but the other provisions of this Grant Agreement shall remain in full force and effect.

 10. Assignability. Except as may be effected by designation of a beneficiary or beneficiaries in such manner
as may be determined by the Committee, or as may be effected by will or other testamentary disposition or by the laws of descent and distribution, any attempt to assign the Units before they are settled shall be of no effect. 
 11. Certain Corporate Transactions. In the event of certain corporate transactions, the Units shall be subject to adjustment as provided in
Section 16 of the Plan. 
 12. No Additional Rights. 
  

	 	i.	Neither the granting of the Units nor their settlement shall (a) affect or restrict in any way the power of the Company to undertake any corporate action otherwise permitted
under applicable law, (b) confer upon the Holder the right to continue performing services for the Company, or (c) interfere in any way with the right of the Company to terminate the services of the Holder at any time, with or without
Cause. 

  

	 	ii.	 The Holder acknowledges that (a) this is a one-time grant, (b) the making of this grant does not mean that the Holder will receive any similar grant or
grants in the future, or any future grants at all, and (c) this grant does not in any way entitle the Holder to future grants under the Plan, if any, and the Company 

  

 -5- 

	 	 
retains sole and absolute discretion as to whether to make any additional grants to the Holder in the future and, if so, the quantity, terms, conditions and
provisions of any such grants. 

  

	 	iii.	Without limiting the generality of subsections i. and ii. immediately above and subject to Sections 3 and 4 above, if the Holder’s employment with the Company terminates, the
Holder shall not be entitled to any compensation for any loss of any right or benefit or prospective right or benefit relating to the Units or under the Plan which he or she might otherwise have enjoyed, whether such compensation is claimed by way
of damages for wrongful dismissal or other breach of contract or by way of compensation for loss of office or otherwise. 

 13. Rights as a Stockholder. Neither the Holder nor the Holder’s Heir shall have any rights as a stockholder with respect to any shares represented by the Units unless and until shares of Common Stock have been issued in
settlement thereof. 
 14. Data Privacy Waiver. By accepting the grant of the Units, the Holder hereby agrees and consents to:

  

	 	i.	the collection, use, processing and transfer by Mattel and its Subsidiaries (collectively, the “Group”) of certain personal information about the Holder (the
“Data”); 

  

	 	ii.	any members of the Group transferring Data amongst themselves for the purposes of implementing, administering and managing the Plan; 

  

	 	iii.	the use of such Data by any such person for such purposes; and 

  

	 	iv.	the transfer to and retention of such Data by third parties in connection with such purposes. 

 For the purposes of clause (i) above, “Data” means the Holder’s name, home address and telephone number, date of birth, other employee information, any tax or other identification number,
details of all rights to acquire Common Stock granted to the Holder and of Common Stock issued or transferred to the Holder pursuant to the Plan. 
 15. Compliance with Plan. The Units and this Grant Agreement are subject to, and the Company and the Holder agree to be bound by, all of the terms and conditions of the Plan as it shall be amended from time to time, which are
incorporated herein by reference. No amendment to the Plan shall adversely affect the Units or this Grant Agreement without the consent of the Holder. In the case of a conflict between the terms of the Plan and this Grant Agreement, the terms of the
Plan shall govern. 
 16. Governing Law. The interpretation, performance and enforcement of this Grant Agreement shall be
governed by the laws of the State of Delaware without regard to principles of 

  

 -6- 

 
conflicts of laws. The Holder may only exercise his or her rights in respect of the Plan to the extent that it would be lawful to do so, and the Company
would not, in connection with this Grant Agreement, be in breach of the laws of any jurisdiction to which the Holder may be subject. The Holder shall be solely responsible to seek advice as to the laws of any jurisdiction to which he or she may be
subject, and participation by the Holder in the Plan shall be on the basis of a warranty by the Holder that the Holder may lawfully so participate without the Company being in breach of the laws of any such jurisdiction. 
  

 -7-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00141-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00141-of-00352.parquet"}]]