Document:

exv10w10

 

Exhibit 10.10

This instrument

Prepared by and after

Recording return to:

Pamela Pappas

Locke Liddell & Sapp LLP

600 Travis, Suite 3200

Houston, Texas 77002

AMENDMENT TO LEASES

This Amendment to Leases (this “Amendment”) is dated effective as of
                              , 2005. The parties hereto are the CITY OF BLYTHEVILLE, ARKANSAS
(“Landlord”) and TERRA NITROGEN, LIMITED PARTNERSHIP (“Tenant”).

WITNESSETH:

RECITALS:

Reference is herein made to that certain Lease and Agreement by and between Landlord, as Lessor,
and Continental Oil Company, as Lessee, dated December 1, 1964 and filed December 29, 1964 in Book
213, Page 343 of the records of Chickasawba District, Mississippi County, Arkansas (the
“Records”), as amended by that certain First Supplemental Lease and Agreement by and
between Landlord and Continental Oil Company, dated December 1, 1965 and filed in Book 224, Page
455 of the Records, as assigned by (1) that certain Agreement of Assignment and Assumption of Lease
(the “Freeport Assignment”) by and between Conoco Inc. (formerly called Continental Oil
Company), as assignor, Freeport-McMoRan Resource Partners, Limited Partnership (“Freeport
Partnership”), as assignee, and Agrico Chemical Company (“Agrico”), dated February 28,
1987 and filed February 27, 1990 in Book 392, Page 479 of the Records, and (2) that certain
Agreement of Assignment and Assumption of Lease by and between Freeport Partnership, as assignor,
and Agricultural Minerals Corporation (“AMC”), as assignee, dated February 28, 1990 and
filed March 1, 1990 in Book 392, Page 506 of the Records (collectively, the “1964 Lease”).
The property covered by the 1964 Lease and leased by Landlord to Tenant under the 1964 Lease is
defined as the “leased premises” in the 1964 Lease and is referenced herein as the “leased
premises”.

Reference is also made to that certain Sublease and Agreement by and between Continental Oil
Company and Agrico dated February 1, 1972 and filed November 24, 1975 in Book 291, Page 503 of the
Records (the “Sublease”) relating to the 1964 Lease, which Sublease was terminated and is
no longer in force or effect as evidenced in the Freeport Assignment.

Reference is also made to that that certain Lease and Agreement by and between Landlord, as Lessor,
and The Williams Companies, as Lessee, dated November 1, 1975 and filed November 26, 1975 in Book
295, Page 1 of the Records, as assigned by (1) that certain Agreement of Assignment and Assumption
of Lease by and between The Williams Companies, as assignor, and Freeport-McMoRan Acquisition
Partners (“Freeport Acquisition”), as assignee, dated February 28, 1987 and filed February
28, 1990 in Book 392, Page 494 of the Records, (2) that certain Agreement of Assignment and
Assumption of Lease by and between Freeport Acquisition, as assignor, and Freeport Partnership, as
assignee, dated June 5, 1987, and filed February 27, 1990 in Book 392, Page 486 of the Records, and
(3) that certain Agreement of Assignment and Assumption of Lease by and between Freeport
Partnership, as assignor, and AMC, as assignee, dated February 28, 1990 and filed March 1,

 

 

1990 in Book 392, Page 515 of the Records (collectively, the “1975 Lease”). The property
covered by the 1975 Lease and leased by Landlord to Tenant under the 1975 Lease is defined as the
“Project” in the 1975 Lease and is referenced herein as the “Project”.

Reference is also made to that certain Affidavit acknowledged April 7, 2000 and filed April 12,
2000 in Book 482, Page 577 of the Records, executed by Michael L. Bennett, evidencing that AMC
contributed substantially all of its assets to Agricultural Minerals, Limited Partnership, and
Agricultural Minerals, Limited Partnership changed its name to Terra Nitrogen, Limited Partnership,
the Tenant named above.

Landlord is the current “Lessor” and Tenant is the current “Lessee” under both the 1964 Lease and
the 1975 Lease. The 1964 Lease and the 1975 Lease are sometimes collectively called the
“Leases.”

Reference is also made to (1) the real property described on Exhibit A attached hereto and
made a part hereof (the “Kinder Morgan Real Property”), (2) all buildings, structures,
fixtures, facilities, improvements, machinery, equipment, tanks, and other personal and related
property located on the Kinder Morgan Real Property, and (3) all accretions, easements, rights of
way, rights and appurtenances belonging or in any wise appertaining thereto (items (1) through (3)
above being collectively called the “Kinder Morgan Property”).

Reference is also made to (1) the real property described on Exhibit B attached hereto and
made a part hereof (the “Terra Plant Real Property”), (2) all buildings, structures,
fixtures, facilities, improvements, machinery, equipment, tanks, and other personal and related
property located on the Terra Plant Real Property which are covered by the Leases, and (3) all
accretions, easements, rights of way, rights and appurtenances belonging or in any wise
appertaining thereto (items (1) through (3) above being collectively called the “Terra Plant
Property”).

Landlord and Tenant acknowledge that the Kinder Morgan Property comprises a portion of the leased
premises under the 1964 Lease and a portion of the Project under the 1974 Lease. Landlord and
Tenant now desire to (1) amend the 1964 Lease to remove and withdraw the Kinder Morgan Property
from the 1964 Lease and from the leased premises, and (2) amend the 1975 Lease to remove and
withdraw the Kinder Morgan Property from the 1975 Lease and from the Project.

Landlord and Tenant also acknowledge that the Terra Plant Property comprises a portion of the
leased premises under the 1964 Lease and a portion of the Project under the 1975 Lease. Landlord
and Tenant also now desire to (1) amend the 1964 Lease to remove and withdraw all other property
other than the Terra Plant Property from the leased premises and the 1964 Lease so that the leased
premises under the 1964 Lease shall only include the Terra Plant Property, and (2) amend the 1975
Lease to remove and withdraw all other property other than the Terra Plant Property from the
Project and the 1975 Lease so that the Project under the 1975 Lease shall only include the Terra
Plant Property.

Landlord and Tenant also now desire to agree that the 1964 Lease and the 1975 Lease, as each are
amended hereby, continue in full force and effect.

AGREEMENTS:

In consideration of Ten Dollars ($10.00) and other good and valuable consideration and premises and
mutual agreements herein set forth, the receipt of which is hereby acknowledged, notwithstanding
anything to the contrary provided in the Leases, Landlord and Tenant hereby agree as follows:

1. The 1964 Lease is hereby amended to remove and withdraw the Kinder Morgan Property from the
description of the leased premises and from the 1964 Lease.

2

 

2. The 1975 Lease is hereby amended to remove and withdraw the Kinder Morgan Property from the
description of the Project and from the 1975 Lease.

3. The 1964 Lease and the 1975 Lease are each hereby further amended to remove and withdraw all
other property other than the Terra Plant Property (a) from the description of the leased premises
under the 1964 Lease and from the 1964 Lease and (b) from the description of the Project under the
1975 Lease and from the 1975 Lease, so that the leased premises under the 1964 Lease and the
Project under the 1975 Lease shall only include the Terra Plant Property.

4. The recitals set forth above are agreed to by the parties hereto. If any provision of the
Leases conflicts with the provisions hereof, the provisions of this Amendment shall control.
Except as herein expressly modified, all terms and provisions of the Leases are and shall remain in
full force and effect and be binding on Landlord and Tenant. This Amendment may be executed in
several counterparts, and by the parties hereto in separate counterparts, and each counterpart,
when executed and delivered, shall constitute an original agreement enforceable against all who
sign it without production of or accounting for any other counterpart, and all separate
counterparts shall constitute the same agreement. This Amendment supersedes and cancels any and all
previous statements, negotiations, arrangements, brochures, agreements and understandings, if any,
between Landlord and Tenant with respect to the subject matter of this Amendment. The Leases and
this Amendment constitute the entire agreement of the parties with respect to the subject matter of
the Leases and this Amendment.

IN TESTIMONY WHEREOF, this instrument is executed effective as of the date first written above.

	 	 	 	 	 	 	 
	LANDLORD:	 	CITY OF BLYTHEVILLE, ARKANSAS
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Barrett Harrison	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	BARRETT HARRISON, MAYOR	 	 
	 

	 	 	 	City Hall	 	 
	 

	 	 	 	Second and Walnut	 	 
	 

	 	 	 	Blytheville, Arkansas 72315	 	 

	 	 	 
	ATTEST:
	 
	 	 
	/s/ Grace Haynie
	 	 
	 	 	 
	CITY CLERK
	 	 

3

 

	 	 	 	 	 	 	 
	TENANT:	 	TERRA NITROGEN, LIMITED PARTNERSHIP
	 
	 	 	 	 	 	 
	 

	 	By:
	 	TERRA NITROGEN CORPORATION,	 	 
	 

	 	 	 	general partner	 	 

	 	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Michael L. Bennett
	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Michael L. Bennett	 	 
	 

	 	Title:
	 	President	 	 

Exhibit A – Kinder Morgan Real Property

Exhibit B – Terra Plant Real Property

4

 

ACKNOWLEDGMENT

	 	 	 	 	 
	STATE OF ARKANSAS

	 	§ 
	 	 
	 

	 	§ss.	 	 
	COUNTY OF MISSISSIPPI

	 	§	 	 

     On this 30th day of June, 2005, before me, Dianne S. Alsworth, the undersigned officer,
personally appeared Barrett Harrison and Grace Haynie who acknowledged themselves to be the Mayor
and the City Clerk of the City of Blytheville, Arkansas, a municipal corporation, and that they as
such Mayor and City Clerk, being authorized so to do, executed the foregoing instrument for the
purposes therein contained, by signing the name of the corporation by themselves as Mayor and City
Clerk.

     IN WITNESS WHEREOF, I hereunto set my hand and official seal.

	 	 	 	 	 
	 	 	 
	 	     /s/ Dianne S. Alsworth
 	 
	 	NOTARY PUBLIC 	 
	 	 	 
	 

(SEAL)

5

 

ACKNOWLEDGMENT

	 	 	 	 	 
	STATE OF IOWA

	 	§ 
	 	 
	 

	 	§ ss.	 	 
	COUNTY OF WOODBURY

	 	§	 	 

     On this 6th day of May, 2005, before me, Kelly J. Kassen the undersigned officer, personally
appeared Michael L. Bennett, who acknowledged himself to be the President of Terra Nitrogen
Corporation, a Delaware corporation and general partner of and on behalf of Terra Nitrogen, Limited
Partnership, a Delaware limited partnership, and that he, as such President, being authorized so to
do, executed the foregoing instrument for the purposes therein contained, by signing the name of
the corporation on behalf of said partnership by himself as President.

     IN WITNESS WHEREOF, I have hereunto set my hand and official seal.

	 	 	 	 	 
	 	 	 
	 	     /s/  Kelly J. Kassen
 	 
	 	NOTARY PUBLIC 	 
	 	 	 
	 

(SEAL)

6

 

Exhibit A

Kinder Morgan Real Property

Legal Description of 731.1 Acre Tract (Save and Except 1.53 Acre Tract)

[TO BE ATTACHED]

 

 

Exhibit B

Terra Plant Real Property

[TO BE ATTACHED]

2exv10w17

 

Exhibit 10.17

PHANTOM UNIT AGREEMENT

[NAME]

[DATE]

Dear: [NAME]

     You currently hold _________ Phantom Units of Terra Nitrogen Company, L.P. (“Terra Nitrogen”),
of which _____ were granted to you in equal installments on each of June 1, 2005, 2006 and 2007,
and _______ were received as a result of cash distributions that were made prior to the date hereof
to holders of common units representing limited partner interests of Terra Nitrogen (“Common
Units”). In order to address the requirements of Section 409A of the Internal Revenue Code of
1986, as amended (the “Code”), and the regulations thereunder as in effect from time to time
(“Section 409A”), the material terms of your Phantom Units are now set forth in this agreement (the
“Agreement”).

     1. Each Phantom Unit will entitle you to a cash payment based on the value of one Common
Unit, as set forth herein.

     2. In the event of a cash distribution to holders of Common Units, you shall be entitled to
receive an additional number of Phantom Units equal to (A) the number of Phantom Units that you
hold as of the date on which such distribution is paid to holders of Common Units (the “Payment
Date”) divided by the Closing Price (as defined below) per Common Unit on the Payment Date
multiplied by (B) the value per Common Unit of the cash distribution. Each additional Phantom Unit
that you receive pursuant to this Paragraph 2 shall be subject to all terms and conditions set
forth in this Agreement, including the right to receive additional Phantom Units with respect
thereto, as provided in this Paragraph 2.

     For purposes of this Agreement, “Closing Price” shall mean, as of any date, (i) the closing sales
price per Common Unit (A) as reported on the New York Stock Exchange — Composite Transactions for
such date or (B) if the Common Units are listed on any other national stock exchange, as reported
on the stock exchange composite tape for securities traded on such stock exchange for such date or,
with respect to each of clauses (A) and (B), if there were no sales on such date, on the closest
preceding date on which there were sales of Common Unit or (ii) in the event there shall be no
public market for the Common Units on such date, the fair market value per Common Unit as
determined in good faith by the board of directors of Terra Nitrogen GP Inc. (“TNGP”) or any
successor thereto.

     3. Following the termination of your service as a non-management director of TNGP or any
successor thereto for any reason, for each Phantom Unit that you hold, you will be entitled to
receive a lump-sum cash payment equal to the average Closing Price per

 

 

Common Unit for the 20-trading-day period immediately
preceding termination of your service, provided that any such termination of your service must
constitute a “separation from service” within the meaning of Section 409A. The cash payment
described in this Paragraph 3 shall be paid to you within 90 days following your separation
service.

     4. In the event of a change in ownership or effective control of Terra Nitrogen or a change
in the ownership of a substantial portion of the assets of Terra Nitrogen (within the meaning of
Section 409A) (collectively, a “Change in Control”), for each Phantom Unit that you hold, you will
be entitled to receive a lump-sum cash payment, not later than the 10th day following the
consummation of the Change in Control, equal to the Closing Price on the date the Change in Control
is consummated, provided that if Common Units are surrendered in the Change in Control transaction
for the right to receive a cash payment, you shall instead be entitled to receive an amount in cash
equal to the value per Common Unit received in the transaction by holders of Common Units.

     5. (a) Notwithstanding Paragraph 3, 4 or any other provision of this Agreement to the
contrary, in accordance with a special transition rule under Section 409A of the Code that is
scheduled to expire on December 31, 2007, you are being presented with a one-time opportunity to
request conversion of all or a portion of your Phantom Units that are outstanding as of the date of
this Agreement into the right to receive a cash payment on January 15, 2008; provided, however,
that in no case may you request, nor will TNGP agree, to convert such number of Phantom Units such
that following conversion, you shall hold less than 2,000 Phantom Units.

     (b) If
you would like to make a request, then on or before December 10, 2007 at 3:00 p.m.
EST, TNGP must receive, via facsimile at the number set forth in Paragraph 8 below, a signed copy
of such request. Your request must indicate the number of Phantom Units that you would like to be
converted into the right to receive a cash payment. Should you make such a request, your request
will be deemed to be irrevocable when it is received via facsimile by TNGP, and you will not be
permitted to amend or modify it thereafter for any reason (including by increasing or decreasing
the number of Phantom Units subject to the request). In the event that TNGP accepts your request,
on January 15, 2008, you will be entitled to a cash payment equal to the product of (i) the number
of Phantom Units that TNGP has agreed to convert into cash multiplied by (ii) the Closing Price per
Common Unit on the trading day on which your request was made, provided that if your faxed request
is received by TNGP after 3:00 p.m. EST on such day, or if your request is received on a day that
is not a trading day, your request will be deemed to have been made on the next trading day (the
relevant trading day pursuant to this clause (ii) is herein referred to as the “Determination
Date”).

     (c) Following the Determination Date, you will no longer be considered a holder of the Phantom
Units that are subject to such request and, accordingly, will no longer have the right to receive
any additional Phantom Units with respect thereto in the event that the Determination Date occurs
before the record date for the payment of distributions to holders of Common Units. However, in
the event that the Determination Date occurs after such record date but before the following
Payment Date, you will be entitled to additional

 

 

Phantom Units with respect to the Phantom Units that are subject to the request.

     (d) Any Phantom Units that you hold that are not converted into a cash payment in accordance
with this Paragraph 5 will remain outstanding and will continue to be governed by the terms of this
Agreement.

     6. (a) It is intended that the provisions of this Agreement comply with Section 409A, and all
provisions of this Agreement shall be construed and interpreted in a manner consistent with the
requirements for avoiding taxes or penalties under Section 409A.

     (b) Neither you nor any of your creditors or beneficiaries shall have the right to subject the
Phantom Units to any anticipation, alienation, sale, transfer, assignment, pledge, encumbrance,
attachment or garnishment. Except as permitted under Section 409A, any amounts payable to you or
for your benefit with respect to the Phantom Units may not be reduced by, or offset against, any
amount owing by you to TNGP or any of its affiliates.

     (c) If, at the time of your separation from service (within the meaning of Section 409A), (i)
you shall be a specified employee (within the meaning of Section 409A and using the identification
methodology selected by TNGP from time to time) and (ii) TNGP shall make a good faith determination
that an amount payable hereunder constitutes deferred compensation (within the meaning of Section
409A) the payment of which is required to be delayed pursuant to the six-month delay rule set forth
in Section 409A in order to avoid taxes or penalties under Section 409A, then TNGP shall not pay
such amount on the otherwise scheduled payment date but shall instead pay it, without interest, on
the first business day after such six-month period.

     (d) Notwithstanding any provision of this Agreement to the contrary, in light of the
uncertainty with respect to the proper application of Section 409A, TNGP reserves the right to make
amendments to this Agreement as TNGP deems necessary or desirable to avoid the imposition of taxes
or penalties under Section 409A. In any case, you shall be solely responsible and liable for the
satisfaction of all taxes and penalties that may be imposed on you or for your account in
connection with this Agreement (including any taxes and penalties under Section 409A), and neither
TNGP nor any of its affiliates shall have any obligation to indemnify or otherwise hold you
harmless from any or all of such taxes or penalties.

     7. Except as set forth in Paragraph 6, no provisions of this Agreement may be amended,
modified, waived or discharged except by a written document signed by you and a duly authorized
representative of TNGP.

     8. All communications to the Company shall be sent to the following address:

	 	 	 	 	 
	 

	 	Terra Nitrogen GP Inc.

600 Fourth Street

P.O. Box 6000

Sioux City IA 51102-6000

	 

	 	Attention:	 	John W. Huey

Vice President, General Counsel

and Corporate Secretary
	 

	 	Fax: 712-294-1247

     9. This Agreement shall be construed in accordance with and governed by the laws of the State
of Delaware.

 

 

	 	 	 	 	 	 	 
	 

	 	 	 	Very truly yours,
	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	TERRA NITROGEN GP INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

Accepted and agreed:

	 	 	 
	 	 	 
	[NAME]

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