Document:

SWVA, INC. SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

 Exhibit 10.2 
  
 SWVA, INC. 
  
 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 
  
 Effective as of September 1, 1997 
  
 This Plan has been established by SWVA, Inc. (the “Company”), effective as of September 1, 1997 (the “Effective Date”), for the
purpose of providing supplemental retirement benefits to a select group of its management and highly compensated employees who are participants in the SWVA, Inc. Management Retirement Plan, as amended (the “Retirement Plan”). Participants
in this Plan are provided Supplemental Contributions (as defined herein) to replace the portion of Discretionary Employer Contributions (also defined herein) that would have been allocated to their accounts under the Retirement Plan in the absence
of the limitations imposed by Sections 401(a)(17) and 415 of the Code. 
  
 1.
Definitions. 
  
 For purposes of this Plan, the
following definitions apply: 
  
 (a) “Account”
means the unfunded bookkeeping account established and maintained for each Participant pursuant to Section 3 hereof. 
  
 (b) “Affiliate” means any entity affiliated with the Company within the meaning of Code Sections 414(b) with respect to a controlled
group of corporations, 414(c) with respect to trades of businesses under common control with the Company, 414(m) with respect to affiliated service groups and any other entity required to be aggregated with the Company under Section 414(o) of
the Code. No entity shall be treated as an Affiliate for a period during which it is not part of the controlled group, under common control otherwise required to be aggregated under Code Section 414. 
  
 (c) “Board” means the Board of Directors of the Company.

  
 (d) “Change of Control” means the occurrence
of any of the following events: 
  

	 	(i)	Steel or the Company is party to a merger of combination under the terms of which any person or group as the term is used in Rule 13d-5 under the Securities Exchange Act of 1934 own
20% or more of the shares in the resulting company; or 

  

	 	(ii)	at least 50% in fair market value of Steel or the Company’s assets are sold; or 

  

	 	(iii)	at least 20% in voting power in election of directors of Steel’s or the Company’s capital stock is acquired by any one person or group as that term is used in Rule 13d-5
under the Securities Exchange Act of 1934; or 

  

	 	(iv)	the individuals comprising the Board of Directors of Steel on the Effective Date cease to comprise a majority of the Board of Directors of Steel; or 

  

	 	(v)	the individuals comprising the Board of Directors of the Company on the Effective Date cease to comprise a majority of the Board. 

  
 (e) “Code” means the Internal Revenue Code of 1986, as
amended. 
  
 (f) “Committee” means the committee,
if any, appointed by the Board to administer this Plan on its behalf. If no committee is appointed, the Board shall be deemed to be the Committee. 
  
 (g) “Company” means SWVA, Inc. or any successor thereto as a result of a merger or consolidation. 

 (h) “Discretionary Employer Contribution” means a profit sharing contribution made by
the Company to the Retirement Plan pursuant to Section 4.06 of the Retirement Plan. 
  
 (i) “Employee” means any person employed by the Company or an Affiliate. 
  
 (j) “ERISA” means the Employee Retirement Income Security Act of 1974, as amended. 
  
 (k) “Participant” means any Employee whose Discretionary
Employer Contribution which would be allocated to the Employee’s account under the Retirement Plan is limited by the annual compensation limitation imposed by Section 401(a)(17) of the Code and the limitation on “annual
additions” impose by Section 415 of the Code and with regard to periods prior to the Effective Date, the individuals set forth on Exhibit A hereto. 
  
 (l) “Plan” means this SWVA, Inc. Supplemental Executive Retirement Plan, as amended from time to time. 
  
 (m) “Steel” means Steel of West Virginia, Inc., or any
successor thereto as a result of a merger of consolidation. 
  
 (n) “Supplemental Contribution” means the amounts credited to a Participant’s Account pursuant to Section 2 hereof. 
  
 (o) “Termination of Employment” means a termination of employment as an Employee of the Company or any Affiliate for any reason
whatsoever, including, without limitation, death, retirement, resignation or dismissal (with or without cause). 
  
 (p) “Valuation Date” means: (i) in the event of Termination of Employment for any reason, the last day of the month during which the
Participants incurs a Termination of Employment and (ii) in the event of a Change of Control prior to a Termination of Employment, the last day of the month during which the Change of Control occurs. 
  
 2. Supplemental Contributions.  
  
 (a) On the same day that a Discretionary Employer Contribution is allocated
to the Participant’s account maintained under the Retirement Plan, the Company shall credit to each Participant’s Account an amount equal to the difference, if any, between: 
  

	 	(i)	that portion of the Discretionary Employer Contribution which would have been allocated to the Participant’s account under the Retirement Plan had such amount been calculated
without regard to (i) the annual compensation limitation imposed by Section 401(a)(17) of the Code, and (ii) the limitation of “annual additions” imposed by Section 415 of the Code; and 

  

	 	(ii)	that portion of the Discretionary Employer Contribution which actually was allocated to the Participants’ account under the Retirement Plan. 

  
 (b) The determination of the amount of any Supplemental Contribution shall be
made by the Committee in its sole discretion. 
  
 3. Accounts and Earnings
Factors. 
  
 (a) The Company shall establish an Account
for each Participant which shall be credited with Supplemental Contributions and, thereafter, be adjusted to reflect earnings, losses, expenses and distributions at least annually or more frequently as determined by the Committee in its sole and
absolute discretion. The Company shall issue a report to each Participant on a quarterly basis reflecting the Participant’s Account activity (including total account value, contributions made during the applicable quarter and earnings and
losses) in a manner determined by the Company in its sole discretion. 

 (b) Amounts credited to a Participant’s Account shall be deemed to be invested in accordance with
the Participant’s investment election under the Retirement Plan. Notwithstanding the foregoing, the Company, the Board and the Committee shall have no obligation to actually invest any assets in the investment vehicles selected by the
Participants or in any other investment vehicle. 
  
 4. Vesting.

  
 Each Participant shall at all times be one hundred percent
(100%) vested in his Account balance. 
  
 5. Payment and Form of
Benefits. 
  
 (a) In the event of Participant’s
Termination of Employment other than due to death, the Participant’s Account balance, valued as of the Valuation Date, shall be paid in the form of a lump sum to the Participant as soon as administratively practicable following the Valuation
Date (but in no event later than thirty days following the Valuation Date). Notwithstanding the foregoing, in the event of a Participant’s Termination of Employment other than death prior to the Effective Date, the Participant’s Account
balance shall be valued as of the last day of the month preceding payment and shall be paid in the form of a lump sum to the Participant as soon as administratively practicable. 
  
 (b) In the event of a Change prior to Participant’s receipt of his Account balance, the Participant’s Account
balance, valued as of the Valuation Date, shall be paid in the form of lump sum to the Participant as soon as administratively practicable following the Valuation Date (but in no event later than thirty days following the Valuation Date).

  
 (c) Notwithstanding the foregoing, the Company shall have the
right, in its sole and absolute discretion, to accelerate the payment of any and all benefits payable hereunder. 
  
 6. Death of Participant. 
  
 (a) In the event of a Participant’s death prior to his receipt of payment of his Account balance, the Participant’s Account balance, valued as
of the date of the Valuation Date, shall be paid in the form of a lump sum to the participant’ beneficiary, as determined in accordance with Section 6(b) below, as soon as administratively practicable following the Valuation Date (but in
no event later than thirty days following the Valuation Date). 
  
 (b) Each Participant may designate a beneficiary to receive any benefits payable as a result of such Participant’s death. The beneficiary designation shall be effective only if it is made on a beneficiary designation form prescribed by
the Committee. A beneficiary designation may be revoked or changed by the Participant at any time by filing a new beneficiary designation form with the Committee. Absent a valid beneficiary designation hereunder, the Participant’s beneficiary
hereunder shall be his or her beneficiary under Retirement Plan. 
  
 7.
Reemployment.  
  
 If a Participant who has
incurred a Termination of Employment is reemployed by the Company of an Affiliate prior to the payment of is Account balance, unpaid benefits accrued hereunder prior to his Termination of Employment shall again be governed by the terms of the Plan.

  
 8. Claims Procedure. 
  
 (a) The Committee shall be responsible for determining all claims for
benefits under this Plan by the Participants or their beneficiaries. Within ninety (90) days after receiving a claim (or within up to one hundred eighty (180) days, if the claimant is so notified, including notification of the reason for
the delay), the Committee shall notify the Participant or beneficiary of its decision in writing, giving the reasons for its decision if adverse to the claim. If the decision is adverse to the claimant, the Committee shall advise him of the Plan
provisions involved, of any additional information which he must provide to perfect his claim and why, and of his right to request a review of the decision. 

 (b) A claimant may request a review of an adverse decision by written request to the Committee made
within sixty (60) days after receipt of the decision. The claimant, or his duly authorized representative, may review pertinent documents and submit written issues and comments. 
  
 (c) Within sixty (60) days after receiving a request for review, the Committee shall notify the claimant in writing of
(i) its decision, (ii) the reasons therefore, and (iii) the Plan provisions upon which it is based. 
  
 (d) The Committee may at any time alter the claims procedure set forth above, so long as the revised claims procedure complies with ERISA, and the
regulations issued thereunder. 
  
 (e) The Committee shall have
the full power and authority to interpret, construe and administer this Plan in its sole discretion based on the provisions of the Plan and to decide any questions and settle all controversies that may arise in connection with the Plan. Both the
Committee’s and the Board’s interpretations and construction thereof, and actions thereunder, made in the sole discretion of the Committee and the Board, including any Account valuation, any determination under this Section 8, or the
amount of the payment to be made hereunder, shall be final, binding and conclusive on all persons for all persons. No member of the Board or Committee shall be liable to any person for any action taken or omitted in connection with the
interpretation and administration of this Plan. 
  
 (f) The
Committee shall determine, subject to the provisions of this Plan: (i) the additional Employees who shall participate in this Plan from time to time; and (ii) when an Employee shall cease to be a Participant. 
  
 9. Construction of Plan. 
  
 Nothing contained in this Plan and no action taken pursuant to the
provisions of this Plan shall create to be construed to create a trust of any kind, or a fiduciary relationship between the Company and the Participants, their beneficiaries of any other person. The Company is not required to and shall not, for
federal income tax purposes or otherwise, fund this Plan. Any contributions credited to an Account and deemed invested under this Plan shall continue for all purposes to be part of the general assets of the Company and person other than Company
shall by virtue of the provisions of this Plan have any interest in such amounts. To the extent that any person acquires a right to receive payments from the Company under this Plan, such right shall be no greater than the right of any unsecured
general creditor of the Company. 
  
 10. Top Hat Plan. 

 
 It is the Company’s intention that this Plan be construed as an
unfunded, non-qualified deferred compensation plan maintained for a select group of management of highly compensated employees within the meaning of Section 201(2) of ERISA. 
  
 11. Payment Not Salary. 
  
 The benefits payment hereunder shall not be deemed salary or other compensation to the Participants for purposes of computing benefits to which he may be
entitled under the Retirement Plan or any other retirement or welfare plan or arrangement of the Company. 
  
 12. Withholdings. 
  
 The Company shall have the right to make such provisions as it deems necessary or appropriate to satisfy any obligations it may have to withhold federal, state, local income or other taxes incurred by reason of this Plan. 
  
 13. Assignment. 
  
 This Plan shall be binding upon and inure to the benefit of the Company, its successors and assigns and the Participants and
their heirs, executors, administrators and legal representatives. In the event that the Company sells all or substantially all of the assets of its business and the acquirer of such assets assumes in writing the obligations hereunder, the Company
shall be released from any liability imposed herein and shall have no obligation to provide any benefits payable hereunder. 

 14. Non-Alienation of Benefits. 
  
 The benefits payable under this Plan shall not be subject to alienation, transfer, assignment, garnishment, execution or
levy of any kind, and any attempt to cause any benefits to be so subjected shall not be permitted. 
  
 15. Amendment or Termination of Plan. 
  
 The Board or the Committee may amend (retroactively or otherwise) this Plan from time to time in any respect, and may at any time terminate this Plan in its entirety. In addition, at any time, the Board or the
Committee may exclude any Participant from further participation in this Plan. In the event of any amendment, termination of exclusion, the Participant shall have a vested right to a benefit from this Plan equal to his total Account balance as of
the date such termination, amendment or exclusion or the first date thereafter on which the Participant’s Account can be valued. In the event of termination of this Plan or exclusion of a Participant, the Company may distribute to each
Participant, as it deems appropriate, such Participant’s Account balance as of such date or the first date thereafter on which the Participant’s Account can be valued (as if a Termination of Employment had occurred) and have no further
obligation hereunder. Any such action by the Board or the Committee with respect to this Plan shall be final, binding and conclusive on all parties. 
  
 16. Minors and Incompetents. 
  
 If the Committee finds that any person to whom payment is payable under this Plan is unable to care for his affairs because of illness or accident, or is
a minor, any payment due (unless a prior claim therefore shall have been made by a duly appointed guardian, committee or other legal representative) may be paid in the form of lump sum distribution to one of the following: (i) the spouse,
(ii) a child, (iii) a parent, (iv) a brother or sister, or (v) to any person deemed by the Committee to have incurred expense for the person otherwise entitled to payment, as determined by the Committee in its sole discretion.
Notwithstanding the foregoing, the Committee may, in its sole discretion, divide the lump sum distribution payable hereunder between or among the individuals described in subsections (i) through (v) of the previous sentence in the
proportions determined by the Committee in its sole discretion. Any payment under this Section 16 of the value of a lump sum distribution payable hereunder shall be a complete discharge of the liabilities of the Company under this Plan.

  
 17. Limitation of Rights. 
  
 Nothing contained herein shall be construed as conferring upon any Employee
or Participant the right to continue in the employ of the Company as an executive or in any other capacity or to interfere with the Company’s right to discharge him at any time for any reason whatsoever. 
  
 18. Non-Exclusivity.  
  
 The adoption of this Plan by the Company shall not be construed as creating
any limitations on the power of the Company to adopt such other supplemental retirement income arrangements as it deems desirable, and such arrangements may be either generally applicable or limited in application. 
  
 19. Gender and Number. 
  
 Wherever used in this Plan, the masculine shall be deemed to include the
feminine and the singular shall be deemed to include the plural, unless the context clearly indicates otherwise. 

 20. Severability. 
  

In case any provision of this Plan shall be illegal or invalid for any reason, said illegality or invalidity shall not affect the remaining parts
hereof, but this Plan shall be construed and enforced as if such illegal and invalid provision never existed. 
  
 21. Headings and Captions. 
  
 The headings and captions herein are provided for reference and convenience only. They shall not be considered part of this Plan and shall not be employed in the construction of this Plan. 
  
 22. Governing Law. 
  
 To the extent legally required, the Code and ERISA shall govern this Plan
and, if any provision hereof is in violation of any applicable requirement thereof, the Company reserves the right to retroactively amend this Plan to comply therewith. To the extent not governed by the Code and ERISA, this Plan shall be governed by
the laws of the State of West Virginia, without regard to conflict of law provisions. 
  
 IN WITNESS WHEREOF, the Company has caused this Plan to be executed the date first set forth above. 
  

			
	SWVA, INC.
		
	By:	 	 /s/ Mark G. Meikle

	Title:	 	Vice President & CFO

 EXHIBIT A 
  

			
	Participant

	  	 Effective Date of Participation

	1. Robert Bunting	  	June, 1994
		
	2. Timothy Duke	  	October, 1996Global Resolution Agreement dated as of October 13, 2005

 Exhibit 10.i.a. 
  
 GLOBAL RESOLUTION AGREEMENT 
  

This GLOBAL RESOLUTION AGREEMENT (this “Agreement”) is made as of October 13, 2005, by and among THE MOSAIC COMPANY, a
Delaware corporation (“Mosaic”), U.S. AGRI-CHEMICALS CORPORATION, a Florida corporation (“USAC”), and SINOCHEM CORPORATION, a corporation organized under the laws of the People’s Republic of China
and the ultimate parent entity of USAC (“Sinochem”). 
  
 RECITALS 
  
 WHEREAS, the parties, by
entering into this Agreement and the ancillary agreements contemplated herein, desire to resolve and settle various outstanding commercial relationships existing between the parties in a manner that is mutually acceptable and to provide a framework
for future commercial relationships among the parties; 
  
 WHEREAS, among other things, USAC is currently engaged in the business of processing and/or distribution of phosphate fertilizer products at or from facilities located in or near Bartow and Ft. Meade, Florida (the
“Florida Phosphate Operations”); 
  
 WHEREAS, Mosaic Phosphates Company (“MPC”) (formerly known as “IMC Phosphates Company”), a subsidiary of Mosaic, entered into a Rock Sales Agreement with USAC effective November 30, 1999 (the
“Rock Agreement”), pursuant to which MPC agreed to supply USAC with certain quantities of mined phosphate rock for use at the Florida Phosphate Operations; 
  
 WHEREAS, USAC had previously filed suit on November 13, 2003 against MPC in State Circuit Court for Polk County,
Florida alleging breach of contract relating to MPC’s performance under certain terms of the Rock Agreement (the “Rock Agreement Litigation”); 
  
 WHEREAS, in September 2004, MPC provided a written notice of termination pursuant to the terms and conditions of the
Rock Agreement and exercised its option to terminate the Rock Agreement effective October 1, 2007 (the “Noticed Termination Date”); 
  
 WHEREAS, Mosaic, USAC and Sinochem subsequently have engaged in discussions concerning the Rock Agreement, and USAC has informed Mosaic that it
desires to be repaid for the outstanding balance owed under the Rock Agreement and, in turn, would release Mosaic from its obligation to supply mined phosphate rock under the Rock Agreement through the Noticed Termination Date; 
  
 WHEREAS, in contemplation of this Agreement the parties desire to
settle all disputes involved in the Rock Agreement Litigation; 

 WHEREAS, the parties mutually agreed to suspend shipments of phosphate rock from Mosaic to USAC
under the Rock Agreement beginning on August 15, 2005 in contemplation of this Agreement; 
  
 WHEREAS, USAC has informed Mosaic that it intends to close its Florida Phosphate Operations; and 
  
 WHEREAS, Mosaic desires to cause its wholly owned subsidiary, Mosaic Fertilizer, LLC, a Delaware limited liability company (“Mosaic
Fertilizer”), to purchase, and USAC desires to sell to Mosaic Fertilizer, certain assets of USAC used in the Florida Phosphate Operations. 
  
 NOW THEREFORE, in consideration of the premises and the mutual covenants contained herein, and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 
  
 I . Resolution of Existing Commercial Relationships 
  
 1.1 Termination of Rock Agreement. 
  
 (a) Termination. At the Closing described in Section 1.5 of this Agreement and on the terms and on the conditions set forth in this Agreement, USAC and Mosaic hereby agree to accelerate the effective date
of the termination of the Rock Agreement to be coincident with the Closing Date (as defined in Section 1.5 of this Agreement). The parties further agree that effective as of the Closing Date, neither MPC nor Mosaic will have any further
obligations to deliver mined phosphate rock to USAC or Sinochem. 
  
 (b) Early Termination Payment. In consideration for the early termination of the Rock Agreement and to fully resolve all outstanding issues under the Rock Agreement, at the Closing Mosaic will pay USAC a cash
payment equal to Eighty-Four Million Dollars ($84,000,000) (the “Early Termination Payment”). Pending the Closing, the parties agree that the Early Termination Payment shall be deposited into an escrow account in accordance with
Section 1.3 of this Agreement. 
  
 (c)
Suspension of Shipments. The parties acknowledge that Mosaic Fertilizer (as successor to MPC) has suspended shipments of phosphate rock to USAC and Sinochem under the Rock Agreement for the period beginning on August 15, 2005 through the
Closing Date (the “Suspension Period”), and agree that neither USAC nor Sinochem has any obligation to pay for any phosphate rock that otherwise would have been but is not shipped during such Suspension Period. The parties further
agree that there shall be no obligation on either party to make up any volume of phosphate rock that is not shipped during the Suspension Period. 
  
 1.2 Settlement of Rock Agreement Litigation. Concurrently herewith, the parties hereby agree to enter into a Settlement Agreement and Release, in
the form attached hereto as Exhibit A (the “Settlement Agreement”), pursuant to which USAC and Sinochem will agree to immediately to dismiss the Rock Agreement Litigation, with prejudice, against MPC and all related parties,
in consideration for which Mosaic agrees to make a one-time payment equal to 

  

 -2- 

 
Ten Million Dollars ($10,000,000) (the “Rock Litigation Payment”). Pending the Closing, the parties agree that the Rock Litigation Payment
shall be deposited into an escrow account in accordance with Section 1.3 of this Agreement. 
  
 1.3 Escrow Agreement. 
  
 (a) The parties agree that, on October 13, 2005, Mosaic shall deposit the Early Termination Payment and the Rock Litigation Payment
(together, the “Escrow Amount”) with U.S. Bank National Association (the “Escrow Agent”) to be held in escrow by the Escrow Agent in accordance with the terms of an Escrow Agreement in the form attached hereto as
Exhibit B (the “Escrow Agreement”). 
  
 (b) Upon the Closing, the Escrow Amount will be released to USAC in accordance with the terms set forth in the Escrow Agreement, provided, however, that if the Closing does not occur on or before
December 10, 2005, the Escrow Amount will be released to Mosaic and Mosaic shall have no obligation thereafter to pay or otherwise deliver to Sinochem or USAC, or any other party, the Early Termination Payment or the Rock Litigation Payment.

  
 1.4 Acquisition of Certain Assets. Concurrently
herewith, the parties hereby agree to enter into an Asset Purchase Agreement, in the form attached hereto as Exhibit C (the “Asset Purchase Agreement”), pursuant to which USAC and Sinochem will agree to sell to Mosaic
Fertilizer, and Mosaic Fertilizer will agree to buy, certain assets of the Florida Phosphate Operations on the terms and conditions set forth therein. 
  
 1.5 Time and Place of Closing; Closing Deliveries. 
  
 (a) The closing of the transactions contemplated by this Agreement (the “Closing”) will take place at the offices of
Dorsey & Whitney LLP, 50 South Sixth Street, Minneapolis, Minnesota, at 9:00 a.m., Minneapolis time, on and as of the Phosphate Closing Date as defined in the Asset Purchase Agreement (the “Closing Date”), or at such other
place and on such other date as may be mutually agreed by Mosaic and USAC, in which case “Closing Date” means the date so agreed. The failure of the Closing will not by itself result in termination of this Agreement and will not relieve
any party of any obligation under this Agreement. The Closing will be effective as of the close of business on the Closing Date. 
  
 (b) Subject to the terms and conditions of this Agreement, on the Closing Date, Mosaic, USAC and Sinochem will each deliver, or cause to
be delivered, to each other (i) a certificate of an appropriate officer dated the Closing Date stating that the conditions set forth in Sections 3.1 and 3.2, respectively, have been satisfied, and (ii) the text of the resolutions
adopted by the Board of Directors or shareholders of such party authorizing the execution, delivery and performance of this Agreement, and the ancillary agreements contemplated herein, certified by an appropriate officer of the Company as being in
full force and effect. 
  

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 II . Additional Agreements 
  
 2.1 Conditions. Each of the parties agrees to use its best efforts to cause the conditions set forth in
Article III to be satisfied and to consummate the transactions contemplated by this Agreement as soon as reasonably possible and in any event prior to the Closing Date. 
  
 2.2 No Shop. Each of USAC and Sinochem acknowledges and agrees that, from the date hereof through the earlier of the
Closing Date or the termination of this Agreement, neither USAC nor Sinochem nor any of their respective officers, directors, consultants, agents, advisors, representatives and affiliates shall, directly or indirectly, initiate or continue any
discussions or engage in any negotiations with any person, corporation, partnership, or other entity (other than Mosaic and its subsidiaries) concerning any Competing Transaction, without the prior written consent of Mosaic. For purposes of this
Agreement, a “Competing Transaction” shall mean any of the following: (a) any merger, consolidation, share exchange, business combination, recapitalization, or other similar transaction involving USAC; (b) any sale, lease,
exchange, dividend, mortgage, pledge, license, transfer or other disposition of any shares, or all or a material portion of the Phosphate Assets (as defined in the Asset Purchase Agreement) of USAC; or (c) the issuance of any new shares of
capital stock of USAC or any options, warrants or other rights to acquire shares of capital stock of USAC to any third party (other than Sinochem). 
  
 2.3 Closure of Florida Phosphate Operations. USAC and Sinochem agree to comply with all applicable laws, rules and regulations in a timely,
efficient and effective manner regarding the closure of USAC’s Florida Phosphate Operations, including without limitation, appropriate closure of its existing and prior phosphogypsum stack systems. USAC and Sinochem further agree to fully and
promptly comply with all applicable federal and state regulatory requirements relating to the closure of the Florida Phosphate Operations. USAC acknowledges that it has initiated discussions with the Florida Department of Environmental Protection
(the “FDEP”) regarding USAC’s plan to fulfill its obligations with respect to the closure of the Florida Phosphate Operations and agrees to continuously and diligently work to complete its closure obligations in a prompt manner
and in accordance with all applicable federal and state laws. From time to time upon Mosaic’s request, USAC and Sinochem will inform Mosaic of all material developments in connection with their closure obligations, including any material
developments resulting from their discussions with the FDEP. 
  
 2.4 Use of Proceeds. USAC and Sinochem agree that the Early Termination Payment and the Rock Litigation Payment shall, to the extent necessary, be used first for purposes of closing USAC’s Florida Phosphate Operations in
accordance with applicable laws, and shall not be used for purposes of paying dividends or paying off debt owed to Affiliates. For purposes of this Agreement, “Affiliate” has the meaning set forth in Rule 12b-2 under the
Securities Exchange Act of 1934, as amended. 
  
 2.5
Indemnification. The parties agree that the covenants and agreements set forth in Sections 2.2, 2.3 and 2.4 of this Agreement shall be deemed covenants and agreements of the respective parties under the Asset Purchase Agreement for
purposes of the provisions of Article IX of the Asset Purchase Agreement. 
  

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 III . Conditions to Closing 
  
 3.1 Conditions to Mosaic’s Obligations. The obligation of Mosaic to take the actions required to be taken by it
at the Closing is subject to the satisfaction or waiver, in whole or in part, in Mosaic’s sole discretion (but no such waiver will waive any rights or remedy otherwise available to Mosaic), of each of the following conditions at or prior to the
Closing: 
  
 (a) USAC and Sinochem will have
performed and complied with each of its agreements contained in this Agreement in all material respects required to be performed by or prior to the Closing Date; 
  
 (b) The Asset Purchase Agreement shall be in full force and effect, and each of the conditions to the
Phosphate Closing set forth in Section 7.1 of the Asset Purchase Agreement shall have been satisfied or waived; 
  
 (c) The Settlement Agreement shall be in full force and effect; 
  
 (d) The Escrow Agreement shall have been duly executed and be in full force and effect; 
  
 (e) No Law or Governmental Order (each as defined in the
Asset Purchase Agreement) will have been enacted, entered, enforced, promulgated, issued or deemed (by a court or other Governmental Entity (as defined in the Asset Purchase Agreement) having proper jurisdiction) applicable to the transactions
contemplated by this Agreement by any Governmental Entity that prohibits the Closing; and 
  
 (f) USAC and Sinochem will have delivered each of the certificates, instruments and other documents that they are obligated to deliver
pursuant to Section 1.5(b). 
  
 3.2 Conditions to USAC and
Sinochem’s Obligations. The obligation of USAC and Sinochem to take the actions required to be taken by them at the Closing is subject to the satisfaction or waiver, in whole or in part, in their sole discretion (but no such waiver will
waive any right or remedy otherwise available under this Agreement), of each of the following conditions at or prior to the Closing: 
  
 (a) Mosaic will have performed and complied with each of its agreements contained in this Agreement in all material respects that are
required to be performed by or prior to the Closing Date; 
  
 (b) The Settlement Agreement shall be in full force and effect; 
  
 (c) The Escrow Agreement shall have been duly executed and be in full force and effect; 
  
 (d) No Law or Governmental Order will have been enacted,
entered, enforced, promulgated, issued or deemed (by a court or other Governmental Entity having proper 

  

 -5- 

 
jurisdiction) applicable to the transactions contemplated by this Agreement by any Governmental Entity that prohibits the applicable Closing; and 

 
 (e) Mosaic will have delivered each of the certificates,
instruments and other documents that it is obligated to deliver pursuant to Section 1.5(b). 
  
 IV. Termination 
  
 4.1 Termination. This Agreement may be terminated prior to the Closing: 
  
 (a) by the mutual written consent of Mosaic, USAC and Sinochem; or 
  
 (b) by either of the parties, if 
  
 (i) the Closing has not been consummated on or before December 10, 2005; provided, that the
terminating party will not be entitled to terminate this Agreement pursuant to this Section 4.1(b)(i) if the failure to consummate the transactions contemplated by this Agreement is the result of the terminating party’s breach of its
representations or agreements under this Agreement or other failure to comply fully with its obligations under this Agreement; or 
  
 (ii) a Law or Governmental Order will have been enacted, entered, enforced, promulgated, issued or deemed (by a court or other
Governmental Entity having proper jurisdiction) applicable to the transactions contemplated by this Agreement by any Governmental Entity that prohibits the Closing. 
  
 4.2 Effect of Termination. The right of termination under Section 4.1 is in addition to any other rights Mosaic,
USAC or Sinochem may have under this Agreement or otherwise, and the exercise of a right of termination will not be an election of remedies and will not preclude an action for breach of this Agreement. If this Agreement is terminated prior to the
Closing, all continuing obligations of the parties under this Agreement will terminate except that Article V will survive indefinitely unless sooner terminated or modified by the parties in writing. 
  
 V. General 
  
 5.1 Press Releases and Announcements. Upon execution of this
Agreement, the parties will mutually agree on the content of an appropriate press release. Any other public announcement, including any announcement to employees, customers, suppliers or others having dealings with USAC, or similar publicity with
respect to this Agreement or the transactions contemplated by this Agreement, will be issued, if at all, at such time and in such manner as Mosaic and USAC agree, except to the extent that Mosaic reasonably determines that any such disclosure by
Mosaic is required by the U.S. federal securities laws or requirements of the New York Stock Exchange. 
  
 5.2 Expenses. Except as otherwise expressly provided for in this Agreement or in any of the ancillary agreements, USAC and Sinochem, on the one
hand, and Mosaic, on the other hand, will each pay all expenses incurred by each of them in connection with the transactions contemplated by this Agreement. 
  

 -6- 

 5.3 Amendment and Waiver. This Agreement may not be amended, no obligation or breach of this
Agreement may be waived, and no consent may be rendered, except in a writing executed by the party against which such action is sought to be enforced. Neither the failure nor any delay by any person in exercising any right under this Agreement will
operate as a waiver of such right, and no single or partial exercise of any such right will preclude any other or further exercise of such right or the exercise of any other right. 
  
 5.4 Notices. All notices, demands and other communications to be given or delivered under or by reason of the
provisions of this Agreement will be in writing and will be deemed to have been given (i) when delivered if personally delivered by hand (with written confirmation of receipt), (ii) when received if sent by a nationally recognized
overnight courier service (receipt requested), (iii) five business days after being mailed, if sent by first class mail, return receipt requested, or (iv) when receipt is acknowledged by an affirmative act of the party receiving notice, if
sent by facsimile, telecopy or other electronic transmission device (provided that such an acknowledgement does not include an acknowledgment generated automatically by a facsimile or telecopy machine or other electronic transmission device).
Notices, demands and communications to Mosaic, USAC and Sinochem will, unless another address is specified in writing, be sent to the address indicated below: 
  

If to Mosaic: 
  
 The Mosaic Company 
 Atria Corporate Center,
B490 
 3033 Campus Drive 
 Plymouth, Minnesota 55441 
 Attn: Richard L. Mack 
 Facsimile No. (763) 577-2990 
  
 With a copy to (which shall not constitute notice to Mosaic): 
  
 Dorsey & Whitney LLP 
 50 South Sixth Street 
 Minneapolis, Minnesota 55402 
 Attn: Robert A. Rosenbaum 
 Facsimile No. (612) 340-7800 
  

 -7- 

 If to USAC or Sinochem: 
  
 USAC Holdings, Inc. 
 2701 N. Rocky Pointe Drive 
 Suite 1030 
 Tampa, Florida 33607 
 Attn: Mr. Hongwei Yang, President 
 Facsimile No. (813) 289-2954 
  
 With a copy to: 
  
 Peterson & Myers, P.A. 
 141
5th Street N.W., 
 Winter Haven, Florida 33881 
 Attn: David Alexander, III 
 Facsimile No. (863) 299-5498 
  
 5.5 Assignment. Neither this Agreement nor any of the rights, interests or obligations under this Agreement may be assigned by any party to this
Agreement without the prior written consent of the other parties to this Agreement, except that Mosaic may assign any of its rights under this Agreement to one or more subsidiaries of Mosaic, so long as Mosaic remains responsible for the performance
of all of its obligations under this Agreement. Subject to the foregoing, this Agreement and all of the provisions of this Agreement will be binding upon and inure to the benefit of the parties to this Agreement and their respective successors and
permitted assigns. 
  
 5.6 No Third-Party Beneficiaries.
Nothing expressed or referred to in this Agreement confers any rights or remedies upon any person that is not a party or permitted assign of a party to this Agreement. 
  
 5.7 Severability. Whenever possible, each provision of this Agreement will be interpreted in such manner as to be
effective and valid under applicable law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision will be ineffective only to the extent of such prohibition or invalidity, without
invalidating the remainder of such provision or the remaining provisions of this Agreement. 
  
 5.8 Complete Agreement. This Agreement and the ancillary agreements hereto contain the complete agreement between the parties with respect to the subject matter hereof and thereof and supersede any prior
understandings, agreements or representations by or between the parties, written or oral. 
  
 5.9 Governing Law. THE DOMESTIC LAW, WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES, OF THE STATE OF DELAWARE WILL GOVERN ALL QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY AND INTERPRETATION OF THIS AGREEMENT
AND THE PERFORMANCE OF THE OBLIGATIONS IMPOSED BY THIS AGREEMENT. 
  

 -8- 

 5.10 Specific Performance. Each of the parties acknowledges and agrees that the subject matter of
this Agreement is unique, that the other parties would be damaged irreparably in the event any of the provisions of this Agreement are not performed in accordance with their specific terms or otherwise are breached, and that the remedies at law
would not be adequate to compensate such other parties not in default or in breach. Accordingly, each of the parties agrees that the other parties will be entitled to an injunction or injunctions to prevent breaches of the provisions of this
Agreement and to enforce specifically this Agreement and the terms and provisions of this Agreement in addition to any other remedy to which they may be entitled, at law or in equity. The parties waive any defense that a remedy at law is adequate
and any requirement to post bond or provide similar security in connection with actions instituted for injunctive relief or specific performance of this Agreement. 
  
 5.11 Jurisdiction. Each of the parties submits to the exclusive jurisdiction of any state or federal court sitting in
Wilmington, Delaware, in any action or proceeding arising out of or relating to this Agreement and agrees that all claims in respect of the action or proceeding may be heard and determined in any such court. Each party also agrees not to bring any
action or proceeding arising out of or relating to this Agreement in any other court. Each of the parties waives any defense of inconvenient forum to the maintenance of any action or proceeding so brought and waives any bond, surety or other
security that might be required of any other party with respect to any such action or proceeding. Sinochem appoints The Corporation Trust Company (the “Process Agent”) as its agent to receive on its behalf service of copies of the
summons and complaint and any other process that might be served in the action or proceeding until December 31, 2010. Any party may make service on Sinochem by sending or delivering a copy of the process to Sinochem in care of the Process Agent
at the following address: 1209 Orange Street, Wilmington, New Castle County, Delaware 19801. The parties agree that any of them may file a copy of this paragraph with any court as written evidence of the knowing, voluntary and bargained agreement
between the parties irrevocably to waive any objections to venue or to convenience of forum. Nothing in this Section 5.11 will affect the right of any party to serve legal process in any other manner permitted by law or in equity. 

 
 5.12 Waiver of Jury Trial. EACH OF THE PARTIES HEREBY EXPRESSLY
WAIVES ANY RIGHT TO TRIAL BY JURY IN ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, BETWEEN OR AMONG ANY OF THE PARTIES ARISING OUT OF OR RELATED TO THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT OR ANY OTHER INSTRUMENT OR DOCUMENT
EXECUTED OR DELIVERED IN CONNECTION HEREWITH. ANY PARTY MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY. 
  
 5.13 Construction. The parties and their respective counsel have
participated jointly in the negotiation and drafting of this Agreement. In addition, each of the parties acknowledges that it is sophisticated and has been advised by experienced counsel and, to the extent it deemed necessary, other advisors in
connection with the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties and no presumption or burden of proof
will arise favoring or disfavoring any party by virtue of the authorship of any of the provisions of this 

  

 -9- 

 
Agreement. The headings preceding the text of articles and sections included in this Agreement and the headings to the schedules and exhibits are for
convenience only and are not be deemed part of this Agreement or given effect in interpreting this Agreement. References to sections, articles, schedules or exhibits are to the sections, articles, schedules and exhibits contained in, referred to or
attached to this Agreement, unless otherwise specified. The word “including” means “including without limitation.” The use of the masculine, feminine or neuter gender or the singular or plural form of words will not limit any
provisions of this Agreement. All references to “dollars” herein are to U.S. dollars. 
  
 5.14 Additional Cooperation. To the extent permitted by applicable Law, Mosaic agrees to use commercially reasonable efforts to assist USAC and
Sinochem with seeking alternatives in which the minimize costs or penalties under certain contracts or agreements relating to the Florida Phosphate Operations; provided, however, that Mosaic shall be under no obligation to assume any contract
or agreement, or any obligations of USAC or Sinochem thereunder, and any cost or liability relating thereto shall remain the sole responsibility of USAC and Sinochem. 
  
 5.15 Signatures; Counterparts. This Agreement may be executed in one or more counterparts, any one of which need not
contain the signatures of more than one party, but all such counterparts taken together will constitute one and the same instrument. A facsimile signature will be considered an original signature. 
  
 [Remainder of page intentionally left blank] 
  

 -10- 

 IN WITNESS WHEREOF, the parties have executed this Global Resolution Agreement as of the date
first above written. 
  

									
	THE MOSAIC COMPANY	 	 	 	U.S. AGRI-CHEMICALS CORPORATION
			
	 By:
                                        
                                        
                                   
 Name (Print)
                                        
                                        
                 
 Title:
                                        
                                        
                               
	 	 	 	 By:
                                        
                                        
                                   
 Name (Print):
                                        
                                        
               
 Title:
                                        
                                        
                               

	  
 SINOCHEM CORPORATION
	 	 	 	 
			
	 By:
                                        
                                        
                                   
 Name (Print)
                                        
                                        
                 
 Title:
                                        
                                        
                               
	 	 	 	 

  

 -11-

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