Document:

EXHIBIT 10.21

 

CF INDUSTRIES HOLDINGS, INC.

2005 EQUITY AND INCENTIVE PLAN

RESTRICTED STOCK AWARD AGREEMENT

 

Name of Grantee: [Name]

 

Restricted Stock: [# Shares]

 

Grant Date: [Date]

 

Vesting Date: All shares of
Restricted Stock will vest on the third anniversary of the Grant Date, but
shall be subject to forfeiture or accelerated vesting as described herein.

 

Capitalized terms used but
not otherwise defined herein shall have the meaning ascribed to such terms as
defined in the CF Industries Holdings, Inc. 2005 Equity and Incentive Plan
(the “Plan”).  Please review this Award
Agreement and promptly return a signed copy to Wendy Jablow Spertus in order to
render the grant effective.

 

*                              *                              *                              *                              *

 

1.             You have been granted the shares of Restricted Stock
shown above pursuant to the Plan and subject to the terms and conditions of the
Plan and this Award Agreement.

 

2              From the Grant Date until the Vesting Date, you may not
sell, assign, transfer, donate, pledge or otherwise dispose of the Restricted
Stock (except by will or the laws of descent and distribution) unless the
shares of Restricted Stock shall have vested prior to the Vesting Date as
described herein.

 

3.             Each certificate representing Restricted Stock shall
bear the following legend:

 

THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN
RESTRICTIONS UPON TRANSFER AS SET FORTH IN AN AGREEMENT BETWEEN THE COMPANY AND
THE SHAREHOLDER, A COPY OF WHICH IS ON FILE WITH THE COMPANY.

 

You shall be entitled to have such legend removed
from such certificate when the restrictions referred to in Section 2 with
respect to the Restricted Stock have lapsed. 
Prior to the vesting of the Restricted Stock, the Company may retain
physical possession of the share certificates for the shares of Restricted
Stock.

 

4.             Transfer restrictions on, and the risk of forfeiture
with respect to, the Restricted Stock shall lapse on the Vesting Date, subject
to earlier lapse upon a Change in Control as provided for in Section 7(b) of
the Plan or as otherwise provided herein.

 

5.             If
your employment with the Company and its Subsidiaries shall terminate for any
reason other than due to your death or Disability (as defined below) prior to
the date the restrictions on your Restricted Stock shall have lapsed, the
Restricted Stock shall be forfeited.  In
the event of termination of your employment due to your death or Disability,
the restrictions and forfeiture conditions applicable to the Restricted Stock
shall lapse as of 

 

 

such termination,
and the Restricted Stock shall be deemed fully vested in accordance with the
terms of the Plan.

 

For purposes of this Award Agreement, “Disability”
shall have the meaning ascribed to such term in your individual employment,
severance or other agreement with the Company or, if you are not party to such
an agreement, “Disability” shall mean your inability because of ill health,
physical or mental disability, to perform your duties for a period of 180 days
in any twelve month period.  Neither the
grant of the Restricted Stock, this Award Agreement nor any other action taken
pursuant to this Award Agreement shall constitute or be evidence of any
agreement or understanding, express or implied, that you have a right to
continue to provide services as an officer, director, employee or consultant of
the Company for any period of time or at any specific rate of compensation.

 

6.             During the restricted period, you
shall have the right to vote Restricted Stock and to receive any dividends or
distributions paid on such stock, provided, however, that such dividends shall
be governed by the provisions of Section 6(b)(iii)(D) of
the Plan.

 

7.             The Company or a Subsidiary shall
withhold all applicable taxes or other amounts required by law from all amounts
paid or delivered in respect of the Restricted Stock. You may satisfy the
withholding obligation by paying the amount of any taxes in cash or shares may
be withheld from the shares of Restricted Stock to satisfy the obligation in
full or in part. The amount of the tax withholding and, if applicable, the
number of shares to be withheld shall be determined by the Committee or its
delegate with reference to the Fair Market Value of the shares when the
withholding is required to be made.

 

8.             The
Plan is incorporated herein by reference. 
The Plan and this Award Agreement constitute the entire agreement of the
parties with respect to the subject matter hereof and supersede in their
entirety all prior undertakings and agreements of you and the Company with
respect to the subject matter hereof, and may not be modified except by means
of a writing signed by you and the Company. 
If there is a conflict between the terms and conditions of the Plan and
the terms and conditions of this Award Agreement, the terms and conditions of
the Plan shall govern. This Award Agreement is governed by the internal
substantive laws, but not the choice of law rules, of the State of Delaware.

 

By your signature and the signature of the Company’s
representative below, you and the Company agree this Award is granted under and
governed by the terms and conditions of the Plan, the terms of which are
incorporated herein, and this Award Agreement. 
You have reviewed the Plan and this Award Agreement in their entirety,
have had an opportunity to obtain the advice of counsel prior to executing this
Award Agreement and fully understand all provisions of the Plan and Award
Agreement.  You hereby agree to accept as
binding, conclusive and final all decisions or interpretations of the Committee
upon any questions relating to the Plan and Award Agreement.  You further agree to notify the Company upon
any change in the residence.

 

 

	
  GRANTEE

  	
   

  	
  CF
  INDUSTRIES HOLDINGS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  [Name]

  	
   

  	
  By:  Wendy Jablow Spertus

  
	
  [Street Address]  

  	
   

  	
  Title:  Vice President, Human Resources

  
	
  [City
  / State / ZIP]EXHIBIT 10.24

 

EXECUTION COPY

 

CF INDUSTRIES HOLDINGS, INC.

 

FIRST AMENDMENT TO

CREDIT AGREEMENT

 

This
FIRST AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) is entered into
as of September 7, 2005, by and among CF INDUSTRIES HOLDINGS, INC., a
Delaware corporation (the “Parent”), CF INDUSTRIES, INC., a Delaware
corporation (the “Borrower”), the Subsidiaries of the Borrower party to
the Credit Agreement (as defined below) (each, together with the Parent, a “Loan
Guarantor” and the Loan Guarantors, together with the Borrower, the “Loan
Parties”), the Lenders (as defined below) signatory hereto and JPMorgan
Chase Bank, N.A., in its capacity as administrative agent for the Lenders (in
such capacity, together with its successors and assigns, the “Administrative
Agent”).

 

RECITALS

 

WHEREAS,
each of the Loan Parties, the financial institutions party thereto as Lenders
(the “Lenders”) and the Administrative Agent have entered into that
certain Credit Agreement, dated as of August 16, 2005 (as amended,
restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”);

 

WHEREAS,
the Loan Parties have requested that certain provisions of the Credit Agreement
be amended, and the Lenders signatory hereto and the Administrative Agent have
agreed to the requested amendments, all as more fully set forth herein; and

 

WHEREAS,
subject to the terms and conditions hereof, each of the parties hereto now
desires to amend the Credit Agreement as particularly described herein.

 

AGREEMENT

 

NOW,
THEREFORE, in consideration of the premises, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties hereto hereby agree as follows:

 

Section 1.           Definitions Used Herein.  Except where otherwise specified herein,
capitalized terms used herein and not otherwise defined herein shall have the
respective meanings ascribed thereto in, or incorporated by reference into, the
Credit Agreement.

 

Section 2.           Amendments.  Subject to the terms and conditions set forth
herein, the Credit Agreement is hereby amended as follows:

 

(a)       Section 6.01(g) of
the Credit Agreement is hereby amended and restated in its entirety to read as
follows:

 

(g) Guarantees by a Loan Party of Indebtedness of any other Loan
Party if the primary obligation is expressly permitted 

 

 

elsewhere in this Section 6.01
(other than Indebtedness of the Parent except Indebtedness incurred pursuant to
Section 6.01(o) and any extension, renewal, refinancing or
replacement of such Indebtedness in accordance with Section 6.01(l));

 

(b)       Section 6.01(o) of
the Credit Agreement is hereby amended by inserting the text “, determined
without duplication,” immediately after the text “$300,000,000” appearing in
such Section.

 

(c)       Section 6.01(v) of
the Credit Agreement is hereby amended by inserting the text “and the Borrower”
immediately after the text “of the Parent” appearing in such Section.

 

(d)       Section 6.06(m) of
the Credit Agreement is hereby amended and restated in its entirety to read as
follows:

 

(m) the Borrower may
make cash dividends to the Parent to make principal, interest and other
payments with respect to Indebtedness of the Parent permitted by Section 6.01;

 

(e)       The first
sentence of Section 6.13 of the Credit Agreement is hereby amended and
restated in its entirety to read as follows:

 

The Parent shall not engage in any trade or business,
or own any assets (other than the Equity Interests and Indebtedness for
borrowed money of the Borrower, Permitted Investments and investments permitted
under Section 6.04(o)) or incur any Indebtedness (other than the
Obligations or Indebtedness of the Parent permitted pursuant to Section 6.01).

 

Section 3.           Representations and
Warranties.  Each Loan
Party hereby represents and warrants that, as of the date hereof, both before
and immediately after giving effect to this Amendment:

 

(a)       Representations
and Warranties.  All of the representations and warranties of
such Loan Party contained in the Credit Agreement and in each other Loan
Document are true and correct in all material respects as of the date hereof
(except, in each case, to the extent that such representations and warranties
expressly relate to an earlier date, in which case such representations and
warranties are true and correct in all material respects as of such earlier
date).

 

(b)       No
Default. 
No Default or Event of Default has occurred and is continuing.

 

(c)       Condition
to Effectiveness of this Amendment.  This Amendment shall be effective as of the
date hereof, upon satisfaction of the condition precedent that the
Administrative Agent (or its counsel) shall have received from each Loan Party
and the Required Lenders either (i) a counterpart of this Amendment signed
on behalf of such party or (ii) written evidence satisfactory to the
Administrative Agent (which may include facsimile transmission of a signed
signature page of this Amendment) that such party has signed a counterpart
of this Amendment.

 

 

Section 4.           Miscellaneous.

 

(a)       Effect;
Ratification.  The amendments set forth herein are effective
solely for the purposes set forth herein and shall be limited precisely as
written, and shall not be deemed to (i) be a consent to, or acknowledgment
of, any amendment, waiver or modification of any other term or condition of the
Credit Agreement or of any other instrument or agreement referred to therein or
(ii) prejudice any right or remedy which the Administrative Agent or any
Lender may now have or may have in the future under or in connection with the
Credit Agreement as amended hereby or any other instrument or agreement
referred to therein.  Each reference in
the Credit Agreement to “this Agreement,” “herein,” “hereof” and words of like
import and each reference in the other Loan Documents to the Credit Agreement
or to the “Credit Agreement” shall mean the Credit Agreement as amended
hereby.  This Amendment shall be
construed in connection with and as part of the Credit Agreement and all terms,
conditions, representations, warranties, covenants and agreements set forth in
the Credit Agreement and each other instrument or agreement referred to
therein, except as herein amended, are hereby ratified and confirmed and shall
remain in full force and effect.

 

(b)       Costs,
Fees and Expenses.  The Borrower agrees to reimburse the
Administrative Agent upon demand for all reasonable and documented out-of-pocket
expenses incurred by the Administrative Agent, including the reasonable fees,
charges and disbursements of counsel for the Administrative Agent, in
connection with the preparation of this Amendment

 

(c)       Counterparts.  This Amendment may
be executed in counterparts (and by different parties hereto on different
counterparts), each of which shall constitute an original, but all of which
when taken together shall constitute a single contract.

 

(d)       Severability.  Any provision of
this Amendment held to be invalid, illegal or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective to the extent of such
invalidity, illegality or unenforceability without affecting the validity,
legality and enforceability of the remaining provisions thereof; and the
invalidity of a particular provision in a particular jurisdiction shall not
invalidate such provision in any other jurisdiction.

 

(e)       GOVERNING
LAW. 
THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF ILLINOIS.

 

(f)        WAIVER
OF JURY TRIAL.  EACH PARTY HERETO HEREBY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A
TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR
RELATING TO THIS AMENDMENT OR ANY DOCUMENT EXECUTED BY ANY SUCH PARTY PURSUANT
TO THIS AMENDMENT (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY).

 

(Signature Page Follows)

 

 

CF
INDUSTRIES HOLDINGS, INC.

 

IN WITNESS WHEREOF, the
parties hereto have caused this Amendment to be duly executed by their
respective authorized officers as of the day and year first above written.

 

	
   

  	
  CF
  INDUSTRIES, INC., as the Borrower

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/
  DENNIS W. BAKER

  
	
   

  	
  Name:

  	
  Dennis
  W. Baker

  
	
   

  	
  Title:

  	
   

  	
  Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  CF
  INDUSTRIES HOLDINGS, INC., as a 

  Loan Guarantor

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/
  DENNIS W. BAKER

  
	
   

  	
  Name:

  	
  Dennis
  W. Baker

  
	
   

  	
  Title:

  	
   

  	
  Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  MATLOK
  FERTILIZER COMPANY, INC.,

  as a Loan Guarantor

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/
  DENNIS W. BAKER

  
	
   

  	
  Name:

  	
  Dennis
  W. Baker

  
	
   

  	
  Title:

  	
   

  	
  Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  PHOSACID
  SERVICE & SUPPLY, INC.,

  as a Loan Guarantor

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/
  DENNIS W. BAKER

  
	
   

  	
  Name:

  	
  Dennis
  W. Baker

  
	
   

  	
  Title:

  	
   

  	
  Treasurer

  
							

 

 

	
   

  	
  JPMORGAN
  CHASE BANK, N.A.,

  individually, as Administrative Agent,

  Issuing Bank, Lender and Swingline Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/
  PATRICK FRAVEL

  
	
   

  	
  Name:

  	
  Patrick
  Fravel

  
	
   

  	
  Title:

  	
   

  	
  Vice
  President

  
	
   

  	
   

  	
   

  
	
   

  	
  BANK
  OF AMERICA, N.A., as

  Co-Documentation Agent and as a Lender

  
	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/
  DAN PETRIK

  
	
   

  	
  Name:

  	
  Dan
  Petrik

  
	
   

  	
  Title:

  	
   

  	
  Senior
  Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
  Harris
  N.A., as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/
  JENNIFER WENDROW

  
	
   

  	
  Name:

  	
  Jennifer
  Wendrow

  
	
   

  	
  Title:

  	
   

  	
  Vice
  President

  
	
   

  	
   

  	
   

  
	
   

  	
  RZB
  FINANCE LLC, as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/
  HERMINE KIROLOS

  
	
   

  	
  Name:

  	
  Hermine
  Kirolos

  
	
   

  	
  Title:

  	
   

  	
  Group
  Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/
  DAN DOBRJANSKYJ

  
	
   

  	
  Name:

  	
  Dan
  Dobrjanskyj

  
	
   

  	
  Title:

  	
   

  	
  Vice
  President

  
	
   

  	
   

  	
   

  
	
   

  	
  Wells
  Fargo Bank, N.A., as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/
  MATTHEW J. REILLY

  
	
   

  	
  Name:

  	
  Matthew
  J. Reilly

  
	
   

  	
  Title:

  	
   

  	
  Vice
  President

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