Document:

Fourth Supplemental Indenture

 EXHIBIT 10.i.j. 
  
 FOURTH SUPPLEMENTAL INDENTURE 
  

This Fourth Supplemental Indenture (this “Supplemental Indenture”), dated as of January 4, 2005 is by and among Phosphate Acquisition
Partners L.P., a Delaware limited partnership (as successor to Phosphate Resource Partners Limited Partnership (formerly known as Freeport-McMoRan Resource Partners, Limited Partnership)) (the “Issuer”), The Mosaic Company, a Delaware
corporation (“Mosaic”), Mosaic Fertilizer, LLC, a Delaware limited liability company (“Mosaic Fertilizer”), Mosaic Crop Nutrition, LLC, a Delaware limited liability company (“Mosaic Crop Nutrition”), and JPMorgan Chase
Bank, N.A. (formerly known as Chemical Bank), a national banking association, as trustee under the Original Indenture referred to below (the “Trustee”). 
  
 W I T N E S S E T H: 
  
 WHEREAS, the Issuer has heretofore executed and delivered to the Trustee a Senior Indenture dated as of February 1, 1996 (the “Base
Indenture”) (as heretofore amended or supplemented, the “Original Indenture”) providing for the issuance of unsecured debentures, notes or other evidences of indebtedness of the Issuer in series; 
  
 WHEREAS, pursuant to the Original Indenture, the Issuer has heretofore
issued $150,000,000 aggregate principal amount of 7% Senior due 2008 (the “Senior Notes”), all of which are Outstanding as of the date hereof; 
  
 WHEREAS, the Issuer has solicited consents from Holders of the Senior Notes to certain amendments (the “Amendments”) to the Original
Indenture and the Senior Notes, which are set forth in Articles I through VII of this Supplemental Indenture; 
  
 WHEREAS, the Issuer has received the written consent to the Amendments from Holders of a majority of the principal amount of the Outstanding Senior
Notes; 
  
 WHEREAS, on the Operative Date (as defined
below) (but not prior thereto), the Amendments shall become and remain operative; 
  
 WHEREAS, in connection with the Amendments, on the Operative Date, Mosaic, Mosaic Fertilizer and Mosaic Crop Nutrition will fully and unconditionally guarantee all of the Issuer’s obligations under the
Senior Notes and the Original Indenture on the terms and conditions set forth herein; and 
  
 WHEREAS, pursuant to Section 8.2 of the Original Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture. 

 NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration,
the receipt of which is hereby acknowledged, the parties hereto mutually covenant and agree for the equal and ratable benefit of the Holders of Senior Notes as follows: 
  
 Article I 
  
 DEFINITIONS 
  
 Section 1.1. Definitions. 
  
 The Original Indenture together with this Supplemental Indenture are hereinafter sometimes collectively referred to as the “Indenture.” For the
avoidance of doubt, references to any “Section” of the “Indenture” refer to such Section of the Original Indenture as supplemented and amended by this Supplemental Indenture. All capitalized terms which are used herein and not
otherwise defined herein are defined in the Original Indenture and are used herein with the same meanings as in the Original Indenture. If a capitalized term is defined in the Original Indenture and this Supplemental Indenture, the definition in
this Supplemental Indenture shall apply to the Indenture and the Senior Notes. 
  
 Section 1.1 of the Original Indenture shall be amended to insert alphabetically therein the following defined terms: 
  
 “Administrative Managing General Partner” shall mean PRP-GP LLC, a Delaware limited liability company, as Administrative
Managing General Partner of the Issuer, and any successor thereto as Administrative Managing General Partner of the Issuer. 
  
 “Affiliate Guarantor” shall have the meaning given to such term in the High-Yield Indentures. 
  
 “Capital Stock” shall mean (i) with respect to any
Person that is a corporation, any and all shares, interests, participations or other equivalents (however designated and whether or not voting) of corporate stock, including each class of common stock and preferred stock of such person, and (ii)
with respect to any Person that is not a corporation, any and all partnership, membership or other equity interests of such Person. 
  
 “Guarantor” shall mean (i) each of Mosaic, Mosaic Fertilizer and Mosaic Crop Nutrition and (ii) each other Person that issues a
Note Guarantee under Article Thirteen, in each case, so long as the Note Guarantee of such Person is in full force and effect. 
  
 “High-Yield Indentures” shall mean, collectively, (i) the Indenture, dated as of August 1, 2003, among Mosaic Global Holdings,
the Guarantors named therein and BNY Midwest Trust Company, as trustee, with respect to Mosaic Global Holdings’ 10.875% Senior Notes due 2013 (the “2013 Indenture”), (ii) the Indenture, dated as of May 17, 2001, among Mosaic Global
Holdings, the Guarantors named therein and The Bank of New York, as trustee, with respect to Mosaic Global Holdings’ 10.875% Senior Notes due 2008 (the “2008 Indenture”) and (iii) the Indenture, dated as of May 17, 2001, among Mosaic
Global Holdings, the Guarantors named therein and The Bank of New York, as trustee, with respect to Mosaic Global Holdings’ 11.250% Senior Notes due 2011 (the “2011 Indenture”), in each case as amended, restated or supplemented from
time to time. 
  

 2 

 “High-Yield Notes” shall mean, collectively, (i) the 11.250% Senior Notes due
2011 of Mosaic Global Holdings issued under the 2011 Indenture, (ii) the 10.875% Senior Notes due 2008 of Mosaic Global Holdings issued under the 2008 Indenture and (iii) the 10.875% Senior Notes due 2013 of Mosaic Global Holdings issued under the
2013 Indenture. 
  
 “Mosaic” shall mean
The Mosaic Company, a Delaware corporation, and any successor thereto. 
  
 “Mosaic Crop Nutrition” shall mean Mosaic Crop Nutrition, LLC, a limited liability company organized under the laws of Delaware, and any successor thereto. 
  
 “Mosaic Fertilizer” shall mean Mosaic Fertilizer,
LLC, a limited liability company organized under the laws of Delaware, and any successor thereto. 
  
 “Mosaic Global Holdings” shall mean Mosaic Global Holdings Inc. (formerly known as IMC Global Inc.), a Delaware corporation and
indirect parent company of the Issuer, and any successor thereto. 
  
 “Note Guarantee” shall mean a guarantee of the Senior Notes issued by a Guarantor under Article Thirteen. 
  
 “Operative Date” shall mean the date the amendments set forth in the Supplemental Indenture dated as of January
04, 2005 to this Indenture become operative. 
  
 “Phosphates Business” shall mean the PhosFeed business segment as such term is used within the meaning of Mosaic Global Holdings’ consolidated financial statements for the year ended December 31, 2003. 
  
 “Phosphates Combination Transaction” shall mean
any one or more transactions or series of related transactions involving (i) the sale, lease, conveyance, contribution and/or other transfer (a “contribution”) of assets or Capital Stock comprising all or any portion of the Phosphates
Business to an entity formed or to be formed (such entity, the “Phosphates Holding Company” and, together with its Subsidiaries, the “Phosphates Entities”) by Mosaic Global Holdings or a Subsidiary thereof and/or Mosaic or a
Subsidiary thereof and/or (ii) the merger or consolidation of a Subsidiary of Mosaic Global Holdings comprising all or any portion of the Phosphates Business with or into any Phosphates Entity, provided that: 
  
 (a) Mosaic Global Holdings and its Subsidiaries, taken as a whole, shall
receive consideration at the time of such contribution, merger or consolidation equal to not less than the fair market value of the assets or 

  

 3 

 
Capital Stock so contributed or the fair market value of the assets of the Subsidiary of Mosaic Global Holdings so merged or consolidated, as the case may
be, as reasonably determined in good faith by the Board of Directors of Mosaic Global Holdings; and 
  
 (b) Mosaic Global Holdings and its Subsidiaries, taken as a whole, shall at all times have voting and dividend participation and other equivalent rights
in the Phosphates Entities (and its other investments therein shall be) equivalent in all respects (as reasonably determined in good faith by the Board of Directors of Mosaic Global Holdings) to the voting and dividend participation and other
equivalent rights and other investments therein of Mosaic and its Subsidiaries (other than Mosaic Global Holdings and its Subsidiaries) (or any successor to Mosaic’s and its Subsidiaries’ interest in the Phosphates Entities), after taking
into account the pro rata portion of assets of the Phosphates Entities contributed by Mosaic Global Holdings and its Subsidiaries, on the one hand, and Mosaic and its Subsidiaries (other than Mosaic Global Holdings and its Subsidiaries), on the
other. 
  
 “Phosphates Entities” shall
have the meaning set forth in the definition of “Phosphates Combination Transaction.” 
  
 “Phosphates Holding Company” shall have the meaning set forth in the definition of “Phosphates Combination
Transaction.” 
  
 “Registered Senior
Note” shall mean any Senior Note registered on the register of the Issuer maintained for the Senior Notes pursuant to this Indenture. 
  
 “Significant Subsidiary” shall mean any Subsidiary of the Issuer which, at the date of determination, is a “significant
subsidiary” (as such term is defined in Regulation S-X under the Exchange Act) of the Issuer. 
  
 “2008 Indenture” shall have the meaning set forth in the definition of “High-Yield Indentures.” 
  
 “2011 Indenture” shall have the meaning set forth
in the definition of “High-Yield Indentures.” 
  
 “2013 Indenture” shall have the meaning set forth in the definition of “High-Yield Indentures.” 
  

 4 

 Article II 
  
 SECURITYHOLDERS LISTS AND REPORTS BY THE ISSUER AND THE TRUSTEE 
  
 Section 2.1. For purposes of the Senior Notes, Section 3.9 of the
Original Indenture shall be amended and restated in its entirety as follows: 
  
 “Section 3.9 Provision of Financial Information. Subject to the last paragraph of this Section 3.9, so long as the Senior Notes are Outstanding, the Issuer will provide to the Trustee a copy of all annual
reports, quarterly reports and other documents which Mosaic is required to file with the Commission pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, or any successor provision thereto. If, during any reporting
period, Mosaic is not required to file such reports with the Commission, the Issuer will provide to the Trustee the same financial reports concerning Mosaic as if Mosaic were so required. 
  
 After such time as Mosaic is released from its Note
Guarantee pursuant to Section 13.5 of this Indenture as a result of its being released as an Affiliate Guarantor of the High-Yield Notes pursuant to Section 10.05(v) of the High-Yield Indentures in connection with a change of control of Mosaic
Global Holdings, the reports and documents to be provided pursuant to this Section 3.9 shall be reports and documents with respect to the Issuer and there shall be no requirement to furnish or file any such reports and documents with respect to
Mosaic.” 
  
 Section 2.2. For purposes of the Senior
Notes, Section 4.3 of the Original Indenture shall be amended and restated in its entirety as follows: 
  
 “Section 4.3 Reports by the Issuer. Subject to the last paragraph of this Section 4.3, the Issuer covenants: 
  
 (a) to file with the Trustee, within 15 days after Mosaic is
required to file the same with the Commission, copies of the annual reports and of the information, documents, and other reports (or copies of such portions of any of the foregoing as the Commission may from time to time by rules and regulations
prescribe) which Mosaic may be required to file with the Commission pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934; or if Mosaic is not required to file information, documents, or reports pursuant to either of such
Sections, then to file with the Trustee and the Commission, in accordance with rules and regulations prescribed from time to time by the Commission, such of the supplementary and periodic information, documents, and reports relating to Mosaic which
may be required pursuant to Section 13 of the Securities Exchange Act of 1934 in respect of a debt security listed and registered on a national securities exchange as may be prescribed from time to time in such rules and regulations; 
  
 (b) to file with the Trustee and with the Commission, in
accordance with rules and regulations prescribed from time to time by the Commission, such additional information, documents, and reports with respect to compliance by the Issuer with the conditions and covenants provided for in this Indenture as
may be required from time to time by such rules and regulations; 
  

 5 

 (c) to transmit by mail to the Holders of the Senior Notes within 30 days after the
filing thereof with the Trustee, in the manner and to the extent provided in Section 4.4(c), such summaries of any information, documents and reports required to be filed pursuant to subsections (a) and (b) of this Section as may be required to be
transmitted to such Holders by rules and regulations prescribed from time to time by the Commission; and 
  
 (d) to furnish to the Trustee, not less often than annually, a brief certificate from the principal executive officer, principal financial
officer or principal accounting officer of the Administrative Managing General Partner as to his or her knowledge of the Issuer’s compliance with all conditions and covenants under this Indenture. For purposes of this subsection (d), such
compliance shall be determined without regard to any period of grace or requirement of notice provided under this Indenture. 
  
 After such time as Mosaic is released from its Note Guarantee pursuant to Section 13.5 of this Indenture as a result of its being released
as an Affiliate Guarantor of the High-Yield Notes pursuant to Section 10.05(v) of the High-Yield Indentures in connection with a change of control of Mosaic Global Holdings, the information, documents and reports to be furnished and filed pursuant
to this Section 4.3 shall be information, documents and reports with respect to the Issuer and there shall be no requirement to furnish or file any such information, documents and reports with respect to Mosaic.” 
  
 Article III 
  
 REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS 
 ON EVENT OF DEFAULT 
  
 For purposes of the Senior Notes, Section 5.1 of the Original Indenture shall be amended by replacing each occurrence of the phrase “the Issuer or
any Restricted Subsidiary” in clauses (d) and (e) of the definition of “Event of Default” with the phrase “the Issuer or any Significant Subsidiary”. 
  
 Article IV 
  
 CONSOLIDATION, MERGER AND SALE OF ASSETS 
  
 For purposes of the Senior Notes, Section 9.1 of the Original Indenture shall be amended by adding the following paragraph to the end of such Section:

  
 “Notwithstanding the foregoing, for
purposes of this Section 9.1, any sale, lease or conveyance of all or any portion of the assets or Capital Stock comprising the Phosphates Business pursuant to a Phosphates Combination Transaction shall not be deemed to be a sale, lease or
conveyance of all or substantially all of the assets of the Issuer.” 
  

 6 

 Article V 
  
 GUARANTEE OF SENIOR NOTES 
  
 For purposes of the Senior Notes, the Original Indenture shall be amended to include the following Article Thirteen: 
  
 “ARTICLE THIRTEEN 
  
 GUARANTEE OF SENIOR NOTES 
  
 Section 13.1 Note Guarantee. 
  
 Subject to the provisions of this Article Thirteen, the
Guarantors, by execution of this Indenture, jointly and severally, guarantee to the Trustee and to each Holder of the Senior Notes (i) the due and punctual payment of the principal of and interest on each Senior Note, when and as the same shall
become due and payable, whether at maturity, by acceleration or otherwise, the due and punctual payment of interest on the overdue principal of and interest on the Senior Notes, to the extent lawful, and the due and punctual payment of all other
obligations and due and punctual performance of all obligations of the Issuer to the Holders of the Senior Notes or the Trustee all in accordance with the terms of such Senior Note and this Indenture, and (ii) in the case of any extension of time of
payment or renewal of any Senior Notes or any of such other obligations, that the same will be promptly paid in full when due or performed in accordance with the terms of the extension or renewal, at stated maturity, by acceleration or otherwise.
Each Guarantor, by execution of this Indenture, agrees that its obligations hereunder shall be absolute and unconditional, irrespective of, and shall be unaffected by, any invalidity, irregularity or unenforceability of any such Senior Note or this
Indenture, any failure to enforce the provisions of any such Senior Note or this Indenture, any waiver, modification or indulgence granted to the Issuer with respect thereto by the Holder of such Senior Note, or any other circumstances which may
otherwise constitute a legal or equitable discharge of a surety or such Guarantor. 
  
 Each Guarantor hereby waives diligence, presentment, demand for payment, filing of claims with a court in the event of merger or
bankruptcy of the Issuer, any right to require a proceeding first against the Issuer, protest or notice with respect to any such Senior Note or the indebtedness evidenced thereby and all demands whatsoever, and covenants that this Note Guarantee
will not be discharged as to any such Senior Note except by payment in full of the principal 

  

 7 

 
thereof and interest thereon. Each Guarantor hereby agrees that, as between such Guarantor, on the one hand, and the Holders of the Senior Notes and the
Trustee, on the other hand, (i) the maturity of the obligations guaranteed hereby may be accelerated as provided in Article Five hereof for the purposes of this Note Guarantee, notwithstanding any stay, injunction or other prohibition preventing
such acceleration in respect of the obligations guaranteed hereby, and (ii) in the event of any declaration of acceleration of such obligations as provided in Article Five hereof, such obligations (whether or not due and payable) shall forthwith
become due and payable by each Guarantor for the purpose of this Note Guarantee. 
  
 The Guarantors shall have the right to seek contribution from any non-paying Guarantor so long as the exercise of such right does not
impair the rights of any Holder of the Senior Notes under the Note Guarantees. 
  
 If an officer of a Guarantor or a general partner thereof whose signature is on this Indenture or any supplemental indenture entered into
in accordance with Section 13.4 no longer holds that office at any time following the execution thereof, such Guarantor’s Note Guarantee shall be valid nevertheless. 
  
 Section 13.2 Execution and Delivery of Note Guarantee. 
  
 To further evidence the Note Guarantee set forth in Section 13.1, each Guarantor hereby agrees that a
notation of such Note Guarantee, substantially in the form included in Exhibit B hereto, shall be endorsed on each Senior Note authenticated and delivered by the Trustee and such Note Guarantee shall be executed by either manual or facsimile
signature of an officer or an officer of a general partner, as the case may be, of each Guarantor. The validity and enforceability of any Note Guarantee shall not be affected by the fact that it is not affixed to any particular Senior Note.

  
 Each of the Guarantors hereby agrees that its
Note Guarantee set forth in Section 13.1 shall remain in full force and effect notwithstanding any failure to endorse on each Senior Note a notation of such Note Guarantee. 
  
 If an officer of a Guarantor or a general partner thereof whose signature is on a Note Guarantee no longer
holds that office at the time the Trustee authenticates the Senior Note on which such Note Guarantee is endorsed or at any time thereafter, such Guarantor’s Note Guarantee of such Senior Note shall be valid nevertheless. 
  
 The delivery of any Senior Note by the Trustee, after the
authentication thereof hereunder, shall constitute due delivery of any Note Guarantee set forth in this Indenture on behalf of the Guarantor. 
  
 Section 13.3 Limitation of Note Guarantee. 
  
 The obligations of each Guarantor are limited to the maximum amount as will, after giving effect to all other contingent and fixed
liabilities of such 

  

 8 

 
Guarantor and after giving effect to any collections from or payments made by or on behalf of any other Guarantor in respect of the obligations of such other
Guarantor under its Note Guarantee or pursuant to its contribution obligations under this Indenture, result in the obligations of such Guarantor under its Note Guarantee not constituting a fraudulent conveyance or fraudulent transfer under federal
or state law. 
  
 Section 13.4 Additional Guarantors.

  
 The Issuer covenants and agrees that it shall
cause any Person who becomes an Affiliate Guarantor of any of the High-Yield Notes pursuant to the terms of the High-Yield Indentures to become a Guarantor of the Senior Notes by executing a supplemental indenture to this Indenture and delivering
any other documentation requested by the Trustee, in each case satisfactory in form and substance to the Trustee, pursuant to which such Person guarantees, jointly and severally with all other Guarantors, all of the Issuer’s obligations under
the Senior Notes and this Indenture in accordance with this Article Thirteen, with the same effect and to the same extent as if such Person had been named herein as a Guarantor. The Issuer shall deliver to the Trustee an Opinion of Counsel that such
supplemental indenture has been duly authorized, executed and delivered by such Person and, subject to customary exceptions, constitutes a valid and legally binding and enforceable obligation of such Person. 
  
 The Trustee shall not be charged with notice or knowledge of
any event requiring any Person to become a Guarantor hereunder unless and until it shall have received notice of such event from the Issuer. 
  
 Section 13.5 Release of Guarantors. 
  
 The Note Guarantee of any Guarantor will be automatically and unconditionally released and discharged when such Guarantor’s guarantee
of the High-Yield Notes is released and discharged in accordance with the terms of each of the High-Yield Indentures (except to the extent such guarantee of such High-Yield Notes is released and discharged as a result of payment in full of such
High-Yield Notes or pursuant to a “Legal Defeasance” under the High-Yield Indentures, in which case such Note Guarantee of such Guarantor shall not be released and discharged). In each such case, the Issuer shall deliver to the Trustee an
Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to such release have been complied with and that such release is authorized and permitted hereunder. For purposes of
Sections 3.9 and 4.3, such Officer’s Certificate shall state, in the case of a release of Mosaic as a Guarantor, whether such release is as a result of its being released as an Affiliate Guarantor of the High-Yield Notes pursuant to Section
10.05(v) of the High-Yield Indentures in connection with a change of control of Mosaic Global Holdings. 
  

 9 

 The Trustee shall execute any documents reasonably requested by the Issuer or a Guarantor
in order to evidence the release of such Guarantor from its obligations under its Note Guarantee under this Article Thirteen. 
  
 Section 13.6 Waiver of Subrogation. 
  
 Each Guarantor hereby irrevocably waives any claim or other rights which it may now or hereafter acquire against the Issuer that arise
from the existence, payment, performance or enforcement of such Guarantor’s obligations under its Note Guarantee and this Indenture, including, without limitation, any right of subrogation, reimbursement, exoneration, indemnification, and any
right to participate in any claim or remedy of any Holder of Senior Notes against the Issuer, whether or not such claim, remedy or right arises in equity, or under contract, statute or common law, including, without limitation, the right to take or
receive from the Issuer, directly or indirectly, in cash or other property or by set-off or in any other manner, payment on account of such claim or other rights. If any amount shall be paid to any Guarantor in violation of the preceding sentence
and the Senior Notes shall not have been paid in full, such amount shall have been deemed to have been paid to such Guarantor for the benefit of, and held in trust for the benefit of, the Holders of the Senior Notes, and shall forthwith be paid to
the Trustee for the benefit of such Holders to be credited and applied upon the Senior Notes, whether matured or unmatured, in accordance with the terms of this Indenture. Each Guarantor acknowledges that it will receive direct and indirect benefits
from the financing arrangements contemplated by this Indenture and that the waiver set forth in this Section 13.6 is knowingly made in contemplation of such benefits. 
  
 Section 13.7 Notice to Trustee. 
  
 The Issuer or any Guarantor shall give prompt written notice to the Trustee of any fact known to the Issuer
or any such Guarantor which would prohibit the making of any payment to or by the Trustee at the Corporate Trust Office of the Trustee in respect of the Note Guarantees. Notwithstanding the provisions of this Article Thirteen or any other provision
of this Indenture, the Trustee shall not be charged with knowledge of the existence of any facts which would prohibit the making of any payment to or by the Trustee in respect of the Note Guarantees, unless and until the Trustee shall have received
written notice thereof from the Issuer no later than one Business Day prior to such payment; and, prior to the receipt of any such written notice, the Trustee, subject to the provisions of this Section 13.7, and subject to the provisions of Sections
6.1 and 6.2 hereof, shall be entitled in all respects to assume that no such facts exist; provided, however, that if the Trustee shall not have received the notice referred to in this Section 13.7 at least one Business Day prior to the
date upon which by the terms hereof any such payment may become payable for any purpose under this Indenture (including, without limitation, the payment of the principal of, premium, if any, or interest on any Senior Note), then, anything herein
contained to the contrary notwithstanding, the Trustee shall have full power and authority to 

  

 10 

 
receive such money and to apply the same to the purpose for which such money was received and shall not be affected by any notice to the contrary which may
be received by it less than one Business Day prior to such date. 
  
 Article VI 
  
 SENIOR NOTES

  
 Pursuant to Section 8.5 of the Original Indenture, the
Trustee is authorized and instructed, at the expense of the Issuer, to make the following notation on the Senior Notes on the Operative Date: 
  
 “The Senior Notes will be entitled to the benefits of certain Note Guarantees made for the benefit of the Holders thereof. Reference
is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and obligations thereunder of the Guarantors, the Trustee and the Holders of the Senior Notes.” 
  
 Article VII 
  
 NOTICES 
  
 For purposes of the Senior Notes, the first paragraph of Section 11.4 of the Original Indenture shall be amended and
restated in its entirety as follows: 
  
 “Any notice or
demand which by any provision of this Indenture is required or permitted to be given or served by the Trustee or by the Holders of Senior Notes to or on any party to this Indenture (other than the Trustee) may be given or served by being deposited
postage prepaid, first class mail (except as otherwise specifically provided herein) addressed (until another address of such party is filed with the Trustee) (i) in the case of the Issuer, to Phosphate Acquisition Partners L.P., c/o The Mosaic
Company, 12800 Whitewater Drive, Suite 200, Minnetonka, Minnesota, Attention: Corporate Secretary, (ii) in the case of Mosaic, The Mosaic Company, 12800 Whitewater Drive, Suite 200, Minnetonka, Minnesota, Attention: Corporate Secretary, (iii) in the
case of Mosaic Fertilizer, c/o The Mosaic Company, 12800 Whitewater Drive, Suite 200, Minnetonka, Minnesota, Attention: Corporate Secretary, and (iv) in the case of Mosaic Crop Nutrition, c/o The Mosaic Company, 12800 Whitewater Drive, Suite 200,
Minnetonka, Minnesota, Attention: Corporate Secretary. Any notice, direction, request or demand by any party to this Indenture (other than the Trustee) or any Holder of Senior Notes to or upon the Trustee shall be deemed to be sufficiently given or
served by being deposited postage prepaid, first-class mail (except as otherwise specifically provided herein) addressed (until another address of the Trustee is filed by the Trustee with the Issuer) to JPMorgan Chase Bank, N.A., 4 New York Plaza,
15th Floor, New York, New York 10004, Attention: Institutional Trust Services.” 
  

 11 

 Article VIII 
  
 MISCELLANEOUS 
  
 Section 8.1. Effect of Supplemental Indenture; Effectiveness and Operation. 
  
 (a) This Supplemental Indenture shall be effective upon execution hereof by the Issuer, Mosaic, Mosaic Fertilizer, Mosaic
Crop Nutrition and the Trustee, but the Amendments to the Original Indenture as set forth in this Supplemental Indenture and the Note Guarantees of Mosaic, Mosaic Fertilizer and Mosaic Crop Nutrition shall not become operative until the
Officer’s Certificate set forth in Exhibit A hereto has been executed and delivered to the Trustee. 
  
 (b) This Supplemental Indenture is a supplemental indenture within the meaning of Section 8.2 of the Original Indenture, and the Original Indenture shall
be read together with this Supplemental Indenture and shall have the same effect over the Senior Notes, in the same manner as if the provisions of the Original Indenture and this Supplemental Indenture were contained in the same instrument.

  
 (c) In all other respects, the Original Indenture is confirmed
by the parties hereto as supplemented by the terms of this Supplemental Indenture. 
  
 (d) Subject to 8.2 of this Supplemental Indenture, in the event that there is a conflict or inconsistency between the Original Indenture and this Supplemental Indenture, the provisions of this Supplemental Indenture
shall control. 
  
 Section 8.2. Trust Indenture Act
Controls. 
  
 If any provision of this
Supplemental Indenture limits, qualifies or conflicts with another provision which is required to be included in this Supplemental Indenture by the Trust Indenture Act of 1939, the required provision shall control. If any provision of this
Supplemental Indenture modifies any Trust Indenture Act of 1939 provision that may be so modified, such Trust Indenture Act of 1939 provision shall be deemed to apply to this Supplemental Indenture as so modified. If any provision of this
Supplemental Indenture excludes any Trust Indenture Act of 1939 provision that may be so excluded, such Trust Indenture Act of 1939 provision shall be excluded from this Supplemental Indenture. 
  
 Section 8.3. Application of Amendments. 
  
 The amendments to the Original Indenture set forth in this Supplemental
Indenture shall apply only to the Senior Notes except to the extent specifically made applicable to any other series of Securities by the Board Resolutions, Officer’s Certificate or supplemental indenture establishing such series of Securities
as provided for in Section 2.3 of the Base Indenture. 
  

 12 

 Section 8.4. Agreement to Guarantee. 
  
 Each of Mosaic, Mosaic Fertilizer and Mosaic Crop Nutrition hereby agree as
of the Operative Date to become subject to the terms of the Indenture as a Guarantor and shall be bound as of the Operative Date by the terms of the Indenture as they relate to their respective Note Guarantee. To further evidence such Note
Guarantees, each of Mosaic, Mosaic Fertilizer and Mosaic Crop Nutrition shall execute and deliver to the Trustee in accordance with Section 13.2 of the Original Indenture (as supplemented by this Supplemental Indenture) a notation of such Note
Guarantee, substantially in the form included as Exhibit B to this Supplemental Indenture. 
  
 Section 8.5. No Recourse Against Others. 
  
 No past, present or future director, officer, employee, incorporator, stockholder or agent of any Guarantor, as such, shall have any liability for any
obligations of the Company or any Guarantor, or their respective successors, under the Senior Notes, any Note Guarantees, the Indenture or this Supplemental Indenture or for any claim based on, in respect of, or by reason of, such obligations or
their creation. Upon execution of this Supplemental Indenture, each Holder of the Senior Notes waives and releases all such liability. The waiver and release are part of the consideration for the issuance of the Note Guarantees. 
  
 Section 8.6. GOVERNING LAW. 
  
 THIS SUPPLEMENTAL INDENTURE SHALL BE DEEMED TO BE A CONTRACT UNDER THE LAWS
OF THE STATE OF NEW YORK, AND FOR ALL PURPOSES SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF SUCH STATE, EXCEPT AS MAY OTHERWISE BE REQUIRED BY MANDATORY PROVISIONS OF LAW. 
  
 Section 8.7. Counterparts. 
  
 The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of
them together represent the same agreement. 
  
 Section 8.8.
Successors. 
  
 All agreements of the Issuer and the
Guarantors in this Supplemental Indenture shall bind their respective successors. All agreements of the Trustee in this Supplemental Indenture shall bind its successors. 
  
 Section 8.9. Severability. 
  
 In case any provision in this Supplemental Indenture shall be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
  

 13 

 Section 8.10. Effect of Headings. 
  
 The headings of the Articles and Sections of this Supplemental Indenture
have been inserted for convenience of reference only, are not to be considered a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof. 
  
 Section 8.11. Trustee. 
  
 The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this
Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Issuer and the Guarantors. 
  
 ***** 
  

 14 

 IN WITNESS WHEREOF, the parties hereto have caused this Fourth Supplemental Indenture to be duly
executed as of the date first above written. 
  

			
	PHOSPHATE ACQUISITION PARTNERS L.P.
		
	By:	 	PRP-GP LLC, as Administrative Managing General Partner
		
	By:	 	 /s/ Fredric W. Corrigan

	 	 	Name: Fredric W. Corrigan
	 	 	Title:   President and Chief Executive Officer
	
	THE MOSAIC COMPANY,
	as Guarantor
		
	By:	 	 /s/ Richard L. Mack

	 	 	Name: Richard L. Mack
	 	 	Title:   Senior Vice President, General Counsel and Secretary
	
	MOSAIC FERTILIZER, LLC,
	as Guarantor
		
	By:	 	 /s/ Richard L. Mack

	 	 	Name: Richard L. Mack
	 	 	Title:   Vice President
	
	MOSAIC CROP NUTRITION, LLC,
	as Guarantor
		
	By:	 	 /s/ Richard L. Mack

	 	 	Name: Richard L. Mack
	 	 	Title:   Vice President
	
	JPMORGAN CHASE BANK, N.A., as Trustee
		
	By:	 	 /s/ James D. Heaney

	 	 	Name: James D. Heaney
	 	 	Title:   Vice President

 EXHIBIT A 
  

OFFICER’S CERTIFICATE 
  
 Reference is made to that certain Fourth Supplemental Indenture (the “Supplemental Indenture”) dated as of
                    ,              among Phosphate Acquisition Partners
L.P., a Delaware limited partnership (as successor to Phosphate Resource Partners Limited Partnership (formerly known as Freeport-McMoRan Resource Partners, Limited Partnership)) (the “Issuer”), The Mosaic Company, Mosaic Fertilizer, LLC,
Mosaic Crop Nutrition, LLC and JPMorgan Chase Bank, N.A. (formerly known as Chemical Bank), as Trustee, to the Indenture (such Indenture, as supplemented or amended from time to time, the “Indenture”) dated as of February 1, 1996 between
the Issuer and JPMorgan Chase Bank, N.A. (formerly known as Chemical Bank), as Trustee. Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Indenture. 
  
 The undersigned,
[            ], the [            ] of the Administrative Managing General Partner, hereby certifies that the Operative Date has
occurred as of the date hereof. 
  
 IN WITNESS WHEREOF, I have
hereunto signed my name on this              day of                     ,
            . 
  

			
	By:	 	  

	 	 	Name:
	 	 	Title:

  

 A-1 

 EXHIBIT B 
  

GUARANTEES 
  
 Each of the undersigned (each a “Guarantor” and collectively, if more than one, the “Guarantors”) hereby jointly and severally
unconditionally guarantees, to the extent set forth in the Senior Indenture dated as of February 1, 1996, by and between Phosphate Acquisition Partners L.P., a Delaware limited partnership (as successor to Phosphate Resource Partners Limited
Partnership (formerly known as Freeport-McMoRan Resource Partners, Limited Partnership)), as Issuer, and JPMorgan Chase Bank, N.A. (formerly known as Chemical Bank), as Trustee (as amended, restated or supplemented from time to time, the
“Indenture”), and subject to the provisions of the Indenture, (a) the due and punctual payment of the principal of and interest on the Senior Notes, when and as the same shall become due and payable, whether at maturity, by acceleration or
otherwise, the due and punctual payment of interest on overdue principal of, and, to the extent permitted by law, interest, and the due and punctual performance of all other obligations of the Issuer to the Holders of Senior Notes or the Trustee,
all in accordance with the terms set forth in Article Thirteen of the Indenture, and (b) in case of any extension of time of payment or renewal of any Senior Notes or any of such other obligations, that the same will be promptly paid in full when
due or performed in accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise. 
  
 The obligations of each Guarantor to the Holders of Senior Notes and to the Trustee pursuant to this Guarantee and the Indenture are expressly set forth
in Article Thirteen of the Indenture, and reference is hereby made to the Indenture for the precise terms and limitations of this Guarantee. 
  
 [Signatures on Following Pages] 
  

 B-1 

 IN WITNESS WHEREOF, each of the Guarantors has caused this Guarantee to be signed by a duly authorized
officer. 
  

			
	[Guarantor]
		
	By:	 	  

	 	 	Name:
	 	 	Title:

  

 B-2Master Agency Agreement

  
 Exhibit 10.ii.d.

  
 Date: August 08, 2002 
  
 To 
 Cargill Fertilizantes S/A., 
 Avenida
Morumbi, 8234, Sao Paulo, SP 
 Federative Republic of Brazil 
  
 Master Agency Agreement 
 Convertibility Enhanced Note Issuance Program 
  
 Dear Sirs: 
  
 We hereby agree to, act as the
Issuing, Placement and Paying Agent (hereinafter, the “Agent”), in respect of the issuance of various fixed rate notes (hereinafter, the “Notes”) by CARGILL FERTILIZANTES S.A., a Brazilian corporation established at Avenida
Morumbi, 8234, in the city of Sao Paulo, State of Sao Paulo (hereinafter, the “Issuer”), up to the total principal amount of USD 100,000,000, pursuant to Brazilian Central Bank Circular No. 3027, of February 22, 2001, and subject to the
following: 
  
 01. Under this Master Agency Agreement, the
principal terms and conditions of the Convertibility Enhanced Note Issuance Program applying to all Notes to be issued hereunder are set forth in Schedule A attached hereto, and the specific terms and conditions of each Note will be detailed in each
Notice to the Agent substantially in the form of Schedule C hereto. 
  
 02. Subject to the receipt by the Agent, from time to time during the term hereof, of written Notice to the Agent from the Issuer, specifying all terms and conditions specifically applying to each such Note(s) and including the date of
issue, which date shall be at least one Business Day after the date of receipt by the Agent of such instructions, the Agent will issue, authenticate, and deliver to each relevant Note Purchaser the Notes in the aggregate principal amount of the
issue substantially in the form attached hereto as Schedule B. For the purposes of this Master Agreement, “Business Day” shall mean any day on which banks are open for business in the cities of London, New York, and Sao Paulo, Brazil. In
the event any payment to be made hereunder shall be scheduled for a day that is not a Business Day, such payment shall be made on the Business Day immediately following such scheduled payment date. 
  
 03. Except as provided for in section 6 below, the Issuer shall pay all
amounts of principal and interest on the Notes, as well as any amounts owing hereunder, to the Agent at its account No. 38490869 with Citibank NA, New York, on the Business Day on which such amounts fall due. 
  

 Page 1 of 11 

 04. Any or all of the Notes may be sold, transferred or endorsed at any time, or from time to time by the
Note Purchaser prior to their respective maturity to a new purchaser, with notice to the Agent, subject to the new Note Purchaser’s acknowledgement in writing to the Agent, prior to any sale or transfer of the Notes, of its acceptance of the
terms and conditions of this Agency Agreement. 
  
 05. The Issuer
shall pay all stamp and other documentary taxes, fees or duties, if any, to which this Agreement or the issue of any Notes may be subject to and shall indemnify the Agent against any claim, demand, action, liability, damages, costs, loss or expense
(including, without limitation, legal fees and any applicable value added tax) which the Agent may incur as a result or arising out of or in relation to any failure to pay or delay in paying any of the same. All payments of principal or interest on
the Notes, as well as all payments to be made to the Agent hereunder, shall be made without set-off, counterclaim, fees, liabilities or similar deductions, and free and clear of, and without deduction or withholding for, taxes, levies, duties or
charges of any nature now or hereafter imposed, levied, collected, withheld or assessed in any jurisdiction through or from which such payments are made or any political subdivision or taxing authority thereof or therein (“Taxes”). If the
Issuer or any agent thereof is required by law or regulation to make any deduction or withholding for or on account of Taxes, the Issuer shall pay such additional amounts as shall be necessary in order that the net amounts received by the Agent
after such deduction or withholding shall equal the amount which would have been receivable hereunder or under the Notes in the absence of such deduction or withholding, and as soon as practicable after the date of any payment of taxes or required
deductions, the Issuer will furnish to the Agent the original or a certified copy of a receipt evidencing payment thereof. 
  
 06. Under this Convertibility Enhanced Note Issuance Program, the Notes will be issued with the support of a Convertibility Support and Escrow Agreement.
Upon the occurrence of a default in payment of a Note by the Issuer, whether at the Note’s original maturity or at an accelerated maturity as a result of the exercise of a call or put option, as a result of a Convertibility Event where a
“Convertibility Event” shall mean the failure of any Governmental Authority of Brazil, as defined in the Convertibility Support and Escrow Agreement, to approve or permit the exchange of Reais for U.S. Dollars to repay the Convertibility
Enhanced Notes (including, without limitation, the inability to repay the Convertibility Enhanced Notes due to the promulgation, operation or enforcement by any relevant Brazilian Governmental Authority of any law, act, decree, regulation,
ordinance, order, policy or determination or modification of, or change in the interpretation of any the foregoing, an effect of which (i) restricts the exchange of Reais for U.S. Dollars, (ii) prevents the transfer of U.S. Dollars outside of
Brazil, or (iii) makes U.S. Dollars generally unavailable in any legal exchange market in Brazil), the Notes will be repaid through the collection of export receivables in an offshore escrow account to be opened and maintained with an escrow agent.

  
 06.1. Exclusively upon the occurrence of a Convertibility
Event and the receipt of a written request from the Agent in the form of Schedule D, Issuer will conclude a Convertibility Support and Escrow Agreement substantially in the form of Schedule E 

  

 Page 2 of 11 

 
with Cargill Financial Services International, Inc. as the Escrow Agent on behalf of the Note Purchasers under which agreement the Issuer unconditionally and
irrevocably agrees that the proceeds of its Export Receivables under an Off-take Contact with a designated buyer will be assigned and pledged to the Escrow Agent on behalf of the Note Purchasers and will be paid by the designated buyer to the Escrow
Account with the Escrow Agent for repayment of the Notes in accordance with Central Bank’s regulation. 
  
 06.2. The original Maturity or accelerated maturity of the Note(s) as a result of the exercise of a call or put option shall be extended upon the
occurrence of a Convertibility Event as deemed reasonably necessary by the Agent to enable Issuer to fulfill its payment obligations under the Note(s) through the export of goods during shipment windows designated by the Agent. 
  
 07. The Issuer does hereby undertake to indemnify on demand the Agent, its
legal representatives, officers, directors and controlling persons (hereinafter, “Indemnified Persons”), and to hold the Indemnified Persons and each of them harmless against, any losses, liabilities, costs, expenses, claims, actions or
demands which the Agent or any other of the Indemnified Persons may incur or which may be made against the Agent or any other of the Indemnified Persons as a result of or in connection with the appointment or the exercise of the powers, discretion,
authorities and duties of the Agent hereunder, except such as may result from the Agent’s own gross negligence or willful misconduct or that of its officers, employees or agents. 
  
 08. The Agent shall cause all original Notes to be held in custody on behalf of the Note Purchaser(s). By virtue of this
custody and considering that all payments due under the Notes shall be made to the Agent, the Issuer may not and do not need to be informed of the name(s) of the Note Purchaser(s). 
  
 09. The parties may terminate this Agency Agreement at anytime with at least 30 days prior written notice to the other
party. The termination of this Agency Agreement shall have no effect on the duties, rights and obligations of the parties in regards to any outstanding Notes. 
  

10. Any notice, request, demand or communication to be made by either party hereto to the other shall be made in writing, by facsimile or otherwise, as
follows: 
  

	 	(a)	if to the Agent: 

  
 CARGILL FINANCIAL SERVICES INTERNATIONAL, INC. 
  
 12700 Whitewater Drive 
 Minnetonka, MN, USA
55343 
 Fax #: 952-984-3926 
  

 Page 3 of 11 

	 	(b)	if to the Issuer: 

  
 CARGILL FERTILIZANTES S.A. 
  
 Avenida Morumbi, 8234, Sao Paulo, SP 
 04703-002 - Brazil 
 Fax#: 55-11-5099-3717 
  

or to such other address as either party may designate by written notice to the other. 
  
 11. Except as otherwise provided for herein, neither of the parties hereto may assign, transfer or delegate any of its
respective rights or obligations hereunder without the prior written consent of the other. 
  
 12. This Agreement shall be governed by and construed in accordance with the laws of the State of New York, United States of America. 
  
 13. This Agreement may be executed in any number of counterparts and by the different parties hereto on separate
counterparts, each of which when so executed and delivered shall be an original, but all such counterparts together shall constitute one and the same instrument, which may be amended only in writing by mutual agreement of the parties. Complete sets
of counterparts shall be lodged with the Agent and the Issuer. 
  
 If you are in
agreement with the foregoing please so indicate by signing the counterpart of this letter enclosed for that purpose, returning the same to us. Upon receipt by the Agent of counterparts executed by the Issuer, this Agreement shall become a binding
obligation on the parties hereto, their successors and assigns. 
  
 Very truly
yours, 
  

			
	CARGILL FINANCIAL SERVICES INTERNATIONAL, INC.
		
	By:	 	 
	 	 	 

  
 Agreed to and accepted as of the date
first written above. 
  

			
	CARGILL FERTILIZANTES S.A.
		
	By:	 	 
	 	 	 

  

 Page 4 of 11 

  
 SCHEDULE A

  
 TERMS AND CONDITIONS OF THE NOTES

 Convertibility Enhanced Note Issuance Program 
  

			
		
	ISSUER:	 	CARGILL FERTILIZANTES S.A.
		
	Address:	 	 Avenida Morumbi, 8234, Sao Paulo, SP
 04703-002
Brazil

		
	 ISSUING, PLACEMENT AND
 PAYING AGENT:
	 	 CARGILL FINANCIAL SERVICES
 INTERNATIONAL,
INC.

		
	Address:	 	 12700 Whitewater Drive
 Minnetonka, MN
55343

		
	TYPE OF OPERATION:	 	 Convertibility Enhanced Notes linked on a
 contingent basis by Export Receivables

	 
		
	PRINCIPAL AMOUNT:	 	 Up to USD 100,000,000 (One Hundred Million
 United
States Dollars)

		
	PURPOSE:	 	Working capital
		
	INTEREST RATE:	 	Interest shall be payable on the outstanding Note Amount from time to time, at the end of each Interest Period of three months, or at the exercise of a Call/Put Option, at a rate not higher
than the rate approved with the Central Bank of Brazil, at LIBOR + a spread of up to 5% p.a. (five percent per annum).
		
	LIBOR:	 	the rate quoted by the London market, at approximately 11:00 a.m. London time (or as soon thereafter as practicable), on the date of issue of the Note, reported on the page designated as FPRX
in the Reuters system for the offering of United States Dollar deposits

  

 Page 5 of 11 

					
		
	 	  	having a term closest to the number of days in the applicable Interest Period
		
	CALL/PUT OPTION:	  	Issuer or Note Purchaser, through the Agent, may call or put, as the case may be, all or any of the outstanding Notes, upon four (4) days prior written notice to the Agent, at any
time as of the date of issuance of the Notes, for 100% (one hundred percent) of the face value of the Notes plus all Interest accrued thereon. Upon receipt of such notice the Agent shall notify the Issuer and/or the Note Purchaser, as the case may
be, within one (1) day of receipt of same notice from the Issuer or Note Purchaser, of the call or put, as the case may be.
		
	PRICE OF ISSUE:	  	100% of face value
		
	ARRANGEMENT FEE:	  	Up to US$ 15,000 (fifteen thousand dollars) per issuance, irrespective of the issued amount, payable in United States dollars
		
	GENERAL EXPENSES:	  	All reasonably required expenses subject to a maximum amount of US$50,000 (fifty thousand United States dollars).
		
	TENOR:	  	One hundred twenty (120) months subject to Call/Put Options referred to above.
		
	TENTATIVE DATE OF PLACEMENT:	  	Any time on or after August 08, 2002
			
	FORM OF PLACEMENT:	  	Private	  	 
			
	TERMS OF PAYMENT:	  	Principal:	  	The respective Principal amount of the Note payable on the respective maturity date or on the date of exercise of a Call/Put option.
			
	 	  	Interest:	  	At the end of every three-month Interest Period as defined on each respective Note, and at final maturity or upon exercise of the Call/Put option, on the total principal amount
outstanding.

  

 Page 6 of 11 

  
 CONTINGENT PAYMENT: Under this
Convertibility Enhanced Note Issuance Program, the Notes will be issued with the support of a Convertibility Support and Escrow Agreement. Upon the occurrence of a default in payment by the Issuer of a Note, whether at the Note’s original
Maturity or at an accelerated maturity as a result of the exercise of a Call/Put Option, as a result of a Convertibility Event where a “Convertibility Event” shall mean the failure of any Governmental Authority of Brazil, as defined in the
Convertibility Support and Escrow Agreement, to approve or permit the exchange of Reais for U.S. Dollars to repay the Convertibility Enhanced Notes (including, without limitation, the inability to repay the Convertibility Enhanced Notes due to the
promulgation, operation or enforcement by any relevant Brazilian Governmental Authority of any law, act, decree, regulation ordinance, order, policy or determination or modification of, or change in the interpretation of any the foregoing, an effect
of which (i) restricts the exchange of Reais for U.S. Dollars, (ii) prevents the transfer of U.S. Dollars outside of Brazil or (iii) makes U.S. Dollars generally unavailable in any legal exchange market in Brazil), the Notes will be repaid through
the collection of export receivables in an offshore escrow account to be opened and maintained with an escrow agent. 
  
 Exclusively upon the occurrence of a Convertibility Event and the receipt of a written request from the Agent, Issuer will conclude a Convertibility Support and Escrow
Agreement with Cargill Financial Services International Inc. as the Escrow Agent on behalf of the Note Purchasers under which agreement the Issuer unconditionally and irrevocably agrees that the proceeds of its Export Receivables under an Off-take
Contract with a designated buyer will be assigned and pledged to the Escrow Agent on behalf of the Note Purchasers and will be paid by the designated buyer to an Escrow Account with the Escrow Agent for repayment of the Notes in accordance with
Central Bank’s regulation. 
  
 The original Maturity or accelerated maturity
of the Notes as a result of the exercise of a call or put option shall be extended upon the occurrence of a Convertibility Event as deemed reasonably necessary by the Agent to enable Issuer to fulfill its payment obligations under the Notes through
the export of goods during shipment windows designated by the Agent. 
  

 Page 7 of 11 

  
 SCHEDULE B

  
 FORM OF NOTE 
  

					
	 No.:          /2002
	 	$... (the “Note
Amount”)]
			
	 	 	CARGILL FERTILIZANTES S.A.	 	 
		
	 Issued on                  ,2002 (the
“Issue Date”)
	 	 
		
	 Maturity Date      , 20    
	 	Series No.:             /2002

  
 1. THIS IS TO CERTIFY that the holder
hereof, duly registered with the Agent as a note purchaser (the “Note Purchaser”), to whom this Note was issued for and on behalf of CARGILL FERTILIZANTES S.A. (the “Issuer”), is entitled to receive on the above- mentioned
Maturity Date the Note Amount specified above upon presentation and surrender of this Note during normal business hours at the office of CARGILL FINANCIAL SERVICES INTERNATIONAL, INC. (the “Agent”), at 12700 Whitewater Drive,
Minnetonka, MN 55343, by transfer to a United States dollar account specified by the Note Purchaser. 
  
 2. Interest shall be payable on the outstanding Note Amount from time to time, at a rate not higher than the rate approved by the Central Bank of Brazil, at LIBOR plus a spread of up to 5% p.a. (five percent per
annum), the “Interest Rate”. 
  
 Interest shall be computed on the
actual number of days elapsed using a three hundred and sixty (360) day year including the first day of an Interest Period to, but excluding the last day of such Interest Period. Interest shall be paid on the last day of an Interest Period and on
the Maturity date. If amounts due under this Note are not paid when due, Issuer agrees to pay penalty interest on demand at a per annum rate equal to the then prevailing Interest Rate plus 2% calculated from the date such payment was due to, but not
including the date of repayment. 
  
 2.1. For the purposes of this Note:

  
 “Business Day” shall mean any day on which banks are open for
business in the cities of London, New York, and Sao Paulo. In the event any payment to be made hereunder shall be scheduled for a day that is not a Business Day, such payment shall be made on the Business Day immediately following such scheduled
payment date. 
  
 “Call/Put Option” shall mean the option of the Issuer and of the Note Purchaser, acting through the Agent, at any time during the term of the Note, upon giving at least four (4) days prior notice to Agent to prepay or receive, as the case may be, in full, the Principal

  

 Page 8 of 11 

 
Amount of the Note then outstanding at par plus accrued Interest. Upon receipt of such notice the Agent shall notify the Issuer and/or the Note Purchaser, as
the case may be, within one (1) day of receipt of such notice from the Issuer or Note Purchaser, of the call or put, as the case may be. 
  
 “Interest Period” shall mean a first period of up to 91 days starting on the Disbursement Date, and further periods starting on the 92nd day and ending three (3) calendar months thereafter assuming a 360 day calendar year, and thereafter, each period commencing
on the last day of the next preceding Interest Period and ending three (3) calendar months thereafter, provided that: 
  
 (a) an Interest Period that would otherwise end after the Maturity Date shall end on the Maturity Date; 
  
 (b) whenever the last day of any Interest Period would otherwise occur on a
day other than a Business Day, the last day of such Interest Period, subject to (c) above shall be extended to occur on the next succeeding Business Day.; and 
  

(d) the Interest Period be shorter than three calendar months if and when a Put/Call Option is exercised, in which event the Interest Period shall end
on the date of the Option. 
  
 “LIBOR” shall mean the rate quoted by the
London market, at approximately 11:00 a.m. London time (or as soon thereafter as practicable), on the date of issue of the Note, reported on the page designated as FPRX in the Reuters system for the offering of United States Dollar deposits having a
term closest to the number of days in the applicable Interest Period. 
  
 3. All
payments in respect of this Note shall be made without set-off, counterclaim, fees, liabilities or similar deductions, and free and clear of, and without deduction or withholding for, taxes, levies, duties or charges of any nature now or hereafter
imposed, levied, collected, withheld or assessed in any jurisdiction through or from which such payments are made or any political subdivision or taxing authority thereof or therein (“Taxes”). If the Issuer or any agent thereof (including,
but not limited to, the Agent) is required by law or regulation to make any deduction or withholding for or on account of Taxes, the Issuer shall pay such additional amounts as shall be necessary in order that the net amounts received by the Note
Purchaser after such deduction or withholding shall equal the amount which would have been receivable hereunder in the absence of such deduction or withholding, and as soon as practicable after the date of any payment of taxes or required
deductions, the Issuer will furnish to the Agent the original or a certified copy of a receipt evidencing payment thereof. 
  
 4. CONTINGENT PAYMENT: This Note will be issued with the support of a Convertibility Support and Escrow Agreement. Upon the occurrence of a default in payment by the
Issuer of the Note, whether at the Note’s original Maturity or at an accelerated maturity as a result of the exercise of a Call/Put Option, as a result of a Convertibility Event where a “Convertibility Event” shall mean the failure of
any 

  

 Page 9 of 11 

 
Governmental Authority of Brazil, as defined in the Convertibility Support and Escrow Agreement, to approve or permit the exchange of Reais for U.S. Dollars
to repay the Convertibility Enhanced Notes (including, without limitation, the inability to repay the Note due to the promulgation, operation or enforcement by any relevant Brazilian Governmental Authority of any law, act, decree, regulation,
ordinance, order, policy or determination or modification of, or change in the interpretation of any the foregoing, an effect of which (i) restricts the exchange of Reais for U.S. Dollars, (ii) prevents the transfer of U.S. Dollars outside of Brazil
or (iii) makes U.S. Dollars generally unavailable in any legal exchange market in Brazil), the Note will be repaid through the collection of export receivables in an offshore escrow account to be opened and maintained with an escrow agent.

  
 Exclusively upon the occurrence of a Convertibility Event and the receipt of a
written request from the Agent, Issuer will conclude a Convertibility Support and Escrow Agreement with Cargill Financial Services International, Inc. as the Escrow Agent on behalf of the Note Purchasers under which agreement the Issuer
unconditionally and irrevocably agrees that the proceeds of its Export Receivables under an Off-take Contract with a designated buyer will be assigned and pledged to the Escrow Agent on behalf of the Note Purchasers and will be paid by the
designated buyer to an Escrow Account with the Escrow Agent for repayment of the Note in accordance with Central Bank’s regulation. 
  
 The original Maturity or accelerated maturity of the Notes as a result of the exercise of a Call/Put Option shall be extended upon the occurrence of a Convertibility
Event as deemed reasonably necessary by the Agent to enable Issuer to fulfill its payment obligations under the Note through the export of goods during shipment windows designated by the Agent. 
  
 5. The Note may be sold, transferred or endorsed at any time, or from time to time by the
Note Purchaser, prior to their respective maturity to a new purchaser, with notice to the Agent, subject to the new Note Purchaser’s acknowledgement in writing to the Agent, prior to any sale or transfer of the Note, of its acceptance of the
terms and conditions of the Agency Agreement. 
  
 6. This Note is governed by, and
shall be construed in accordance with, the laws of the State of New York, United States of America. 
  
 ISSUED AND AUTHENTICATED by CARGILL FINANCIAL SERVICES INTERNATIONAL, INC. without recourse, warranty or liability and for authentication purposes only. 
  
 Signed by the Agent for and on behalf of CARGILL FERTILIZANTES S.A. 

			
		
	 By:
	 	 
		
	 	 	 

  

 Page 10 of 11 

 Agent 
  
 CARGILL FINANCIAL SERVICES INTERNATIONAL, INC. 
  

 Page 11 of 11

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00077-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00077-of-00352.parquet"}]]