Document:

Form of Intrepid Potash, Inc. 2008 Senior Management Performance Incentive Plan

 Exhibit 10.17 
 FORM OF 
 INTREPID POTASH, INC. 
 2008 SENIOR MANAGEMENT PERFORMANCE INCENTIVE PLAN 
 (Adopted April __, 2008)

	1.	PLAN OVERVIEW. 

 This Intrepid Potash, Inc. 2008
Senior Management Performance Incentive Plan is an annual bonus plan that is intended (i) to enable Intrepid Potash, Inc. to attract, retain, motivate and reward senior executive officers by providing them with the opportunity to earn
competitive annual bonus compensation for the 2008 calendar year, and (ii) to qualify as a compensation plan or arrangement in effect prior to the time of Intrepid Potash, Inc.’s initial public offering, such that bonuses paid hereunder
will be exempt from the deduction limitations under Section 162(m) of the Internal Revenue Code of 1986, as amended, pursuant to Treas. Reg. Section 1.162-27(f). The plan will be administered and construed in all events in accordance with
the foregoing intentions. Executive officers and other key employees not covered under the terms of this Plan may be eligible to participate in the Company’s general annual performance incentive plan (which has not been reduced to writing)
pursuant to which they may receive annual bonuses awarded in a similar manner as described herein. 
  

	2.	DEFINITIONS. 

 The following words as used in this
Plan have the meanings ascribed to them below: 
 (a) Base Salary shall mean the annual rate of a
Participant’s base salary in effect as of the last day of the Plan Year or, in the event of death, Disability, or Change of Control, in effect immediately prior to such event. 
 (b) Board means the Board of Directors of the Company. 
 (c) Change of Control means and shall be deemed to have occurred upon the occurrence of: 
 (i) the acquisition by any individual, entity, or group (within the meaning of Sections 13(d)(3) or 14(d)(2) of the Exchange Act (a
“Person”) of “beneficial ownership” (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of more than 50% of the combined voting power of the Company’s then outstanding securities entitled to
vote generally in the election of directors, other than any acquisition (1) directly from, or by, the Company, (2) by a trustee or other fiduciary holding securities under an employee benefit plan of the Company or any of its subsidiaries,
or (3) by Robert P. Jornayvaz III, Hugh E. Harvey Jr. or J. Landis Martin (collectively the “Principals”), or by any “group” (within the meaning of Section 13(d)(3) of the Exchange Act) that is controlled
by one or more of the Principals; 
 (ii) the individual directors of the Board as of the Effective Date (the
“Incumbent Directors”) cease to constitute at least two-thirds of the Board; provided, however, that for purposes of this paragraph, any new director whose election by the Board or nomination for election by the
Company’s stockholders was approved by a vote of at least a majority of the Incumbent Directors shall be considered an Incumbent Director; 
 (iii) consummation, in one transaction or a series or related transactions, of a reorganization, merger, or consolidation of the Company or sale or other disposition, direct or indirect, of all or substantially all of
the assets of the Company (a “Business 
 Intrepid Potash, Inc. 2008 Senior Management Performance
Incentive Plan 
  

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Combination”), in each case, unless, following such Business Combination, the Persons who were the “beneficial owners” of
outstanding voting securities of the Company immediately prior to such Business Combination “beneficially own,” by reason of such ownership of the Company’s voting securities immediately before the Business Combination, more than 50%
of the combined voting power of the company resulting from such Business Combination (including, without limitation, a company which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either
directly or through one or more subsidiaries) in substantially the same proportions as their ownership of the outstanding voting securities of the Company immediately prior to such Business Combination; or 
 (iv) approval by those Persons holding the voting securities of the Company of a complete liquidation or dissolution of the Company.

 A Person will not be deemed to be a member of a “group” for purposes of this definition solely by virtue of becoming party to an
agreement with one or more Principals that requires such Person to vote the voting stock of the Company in a manner specified by the Principals. 
 (d) Committee means the Compensation Committee of the Board. 
 (e)
Company means Intrepid Potash, Inc., a Delaware corporation. 
 (f) Disability means that the
Participant is (i) unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less
than 12 months; (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement
benefits for a period of not less than three months under an accident or health plan covering employees of the Participant’s employer; or (iii) determined to be totally disabled by the Social Security Administration. 
 (g) Participant means an individual identified by name in, or by the Committee in accordance with, Section 4 hereof.

 (h) Plan means this Intrepid Potash, Inc. 2008 Senior Management Performance Incentive Plan, as set forth
herein. 
 (i) Plan Year means the 2008 calendar year. 
 (j) Stock shall mean the $.001 par value common stock of the Company. 
 (k) Target Bonus Amount means the amount of a Participant’s 2008 target bonus, expressed as a percentage of that
Participant’s Base Salary. 
  

	3.	ADMINISTRATION. 

 The Committee will administer and
interpret this Plan. The Committee shall have full authority, subject to the terms of the Plan, to determine eligibility to participate in the Plan for all 
 Intrepid Potash, Inc. 2008 Senior Management Performance Incentive Plan 
  

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executives hired after the adoption of this Plan and the target bonus percentages for all such Participants, to determine the individual and Company
performance criteria that shall be used in determining a Participant’s bonus under the Plan (which criteria need not be the same for all Participants), to determine whether such criteria have been achieved, to determine the amount, if any, of
each Participant’s annual bonus, and to set any other terms and conditions associated with the payment of annual bonuses under the Plan as it deems necessary or desirable. 
 The Committee shall also have the authority to establish such rules and regulations, not inconsistent with the provisions of the Plan, as it deems
necessary or desirable for the proper administration of the Plan, and shall make such determinations and interpretations under and in connection with the Plan as it deems necessary or desirable. The Plan, and all such rules, regulations,
determinations, and interpretations, shall be binding and conclusive upon the Company, its stockholders, and all Participants, and upon their legal representatives, heirs, beneficiaries, successors and assigns and upon all other person claiming
under or through any of them. 
  

	4.	ELIGIBILITY 

 The following individuals shall be the
initial Participants in the Plan: 
 Robert P. Jornayvaz III, Chief Executive Officer  
 Hugh E. Harvey, Jr., Executive Vice President of Technology  
 Patrick L. Avery, President and Chief Operating Officer  
 David W. Honeyfield, Executive Vice
President, Chief Financial Officer and Treasurer  
 James N. Whyte, Executive Vice President of Human Resources and Risk
Management  
 R.L. Moore, Senior Vice President of Sales and Marketing 
 The Committee shall have discretion to designate any executive officer hired after the adoption of this Plan as an additional participant in the Plan.
Such designation shall be in writing and shall occur within thirty (30) days of the individual’s date of hire. 
  

	5.	2008 TARGET BONUS AMOUNTS. 

 Target Bonus Amounts
for the initial participants for 2008 shall be as follows: 
  

			
		
	Robert P. Jornayvaz III	  	150% of Base Salary
	Huge E. Harvey, Jr.	  	150% of Base Salary
	Partrick L. Avery	  	50% of Base Salary
	David W. Honeyfield	  	50% of Base Salary
	James N. Whyte	  	40% of Base Salary
	R.L. Moore	  	50% of Base Salary

 Upon designating any additional executive officer for participation in the Plan, the Committee
shall also designate, in writing, such individual’s Target Bonus Amount for the Plan Year, which Target Bonus Amount shall be determined by the Committee in its sole and absolute discretion. 
 Intrepid Potash, Inc. 2008 Senior Management Performance Incentive Plan 
  

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	6.	DETERMINATION OF 2008 BONUSES 

 Following the
conclusion of the Plan Year, the Committee shall determine actual 2008 bonus amounts to be payable to each Participant, which amounts may be less than, equal to, or greater than the Target Bonus Amount established for each Participant. In
determining the actual amount of a Participant’s bonus, the Committee shall consider (i) the extent to which the Participant has met the goals established for the Participant in the Participant’s most recent annual review, if
performed, (ii) the extent to which the Participant has otherwise met individual performance expectations, as determined by the Committee, (iii) the Company’s financial performance during the year, which performance may be measured
based on the Company’s 2008 operating plan or such other financial criteria as may be determined by the Committee, (iv) any extenuating circumstances relating to individual or Company performance, and (v) any other facts and
circumstances that the Committee deems relevant in determining bonus amounts for the year. It is anticipated, although not required, that the Committee will award an actual 2008 bonus in an amount equal to a Participant’s Target Bonus Amount in
the event that both individual and Company performance for the year meets expectations. It is further expected, although not required, that the Committee will award bonuses that are less than the Target Bonus Amounts in the event that individual and
Company performance fails to reach expected levels. Finally, it is expected, but not required, that exceptional individual or Company performance will warrant a bonus in excess of a Participant’s Target Bonus Amount. In no event, however, may
an actual 2008 bonus under this Plan exceed 200% of the Participant’s Target Bonus Amount. There is no minimum bonus payable under the Plan and no Participant is guaranteed a bonus based on their participation in the Plan. 
  

	7.	PAYMENT OF 2008 BONUSES 

 2008 bonuses shall be paid
as soon as administratively feasible after determination by the Committee of such amounts pursuant to Section 6, but in no event later than March 15, 2009. Bonuses shall be payable in cash or in Stock, as determined by the Committee in its
sole discretion. A Participant must be employed on the date of payment in order to receive a 2008 bonus pursuant to this Section 7. 
  

	8.	DEATH, DISABILITY, CHANGE OF CONTROL. 

 Notwithstanding Section 7 hereof, in the event of a Participant’s death or Disability, or upon a Change in Control, in all events prior to payment of the 2008 bonus, the Committee may, but need not, award to the Participant or to
the Participant’s guardian or beneficiaries a full or partial 2008 bonus under this Section 8. In determining the amount of such bonus, if any, the Committee shall apply the same methodology and criteria as are described in Section 6,
above. All bonuses payable under this Section 8 shall be paid in cash or in Stock, as determined by the Committee in its discretion, no later than March 15, 2009. 
  

	9.	GENERAL PROVISIONS. 

 (a) Termination;
Amendment. The Board may at any time amend or terminate this Plan. This Plan shall terminate automatically upon payment of all 2008 bonuses, if any, due under the Plan. 
 Intrepid Potash, Inc. 2008 Senior Management Performance Incentive Plan 
  

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 (b) No Employment or Bonus Rights. Nothing in this Plan will be construed as conferring
upon any Participant any right to continue in the employment of the Company or any of its subsidiaries or to receive a bonus under this Plan. 
 (c) Nonalienation of Benefits. No Participant or beneficiary will have the power or right to alienate, transfer, anticipate, sell, assign, pledge, attach, or otherwise encumber the Participant’s interest under this Plan.

 (d) Withholding. Any amount payable to a Participant or a beneficiary under this Plan will be subject to any applicable
Federal, state and local income and employment taxes and any other amounts that the Company or a subsidiary is required by law to deduct and withhold from such amount. 
 (e) Plan Unfunded. The entire cost of this Plan shall be paid from the general assets of the Company. The rights of any Participant or beneficiary to receive a bonus or payment under this Plan shall be
only those of a general unsecured creditor, and neither the Company nor the Board or the Committee shall be responsible for the adequacy of the general assets of the Company to meet and discharge Plan liabilities. 
 (f) Severability. If any provision of this Plan is held unenforceable, the remainder of this Plan will continue in full force and effect
without regard to such unenforceable provision and will be applied as though the unenforceable provision were not contained in this Plan. 
 (g) Governing Law. This Plan will be construed in accordance with and governed by the laws of the State of Colorado, without reference to the principles of conflict of laws. 
 (h) Headings. Headings are inserted in this Plan for convenience of reference only and are to be ignored in any construction of the
provisions of this Plan. 
 (i) 409A. This Plan and all bonuses payable hereunder are intended to comply with the requirements
imposed by Section 409A of the Code, and this Plan shall be interpreted accordingly. 
 To record adoption of the Plan by the Board on
April __, 2008, the Company has caused its authorized officer to execute the Plan. 
  

			
	INTREPID POTASH, INC.
		
	By:	 	 
		 	Robert P. Jornayvaz III
		 	Chief Executive Officer
		
	Date:	 	 

 Intrepid Potash, Inc. 2008 Senior Management Performance Incentive Plan 
  

 5Form of Restricted Stock Grant Agreement

 Exhibit 10.18 
 Restricted Stock Grant No.: __ 
 INTREPID POTASH, INC. 
 2008 EQUITY INCENTIVE PLAN 
 FORM OF
RESTRICTED STOCK AGREEMENT 
 The Board of Directors of Intrepid Potash, Inc., a Delaware corporation (the
“Company”), has granted shares of Restricted Stock issued under the Intrepid Potash, Inc. 2008 Equity Incentive Plan (the “Plan”) to the Grantee named below. This Restricted Stock Agreement (the
“Agreement”) evidences the terms of that grant of Restricted Stock. 
 I. NOTICE OF GRANT 
 Name of Grantee: 
 Number of Shares of Restricted Stock Granted:
 
 Grant Date: 
 Vesting Schedule: Except as
provided otherwise in this Agreement or the Plan, subject to Grantee’s continuous Service, the Restricted Stock shall vest and the restrictions set forth in Section 2 of this Agreement shall lapse as follows: 
  

					
	 Service Vesting Date
	  	Percentage of
Shares that Vest	  	Number of
Shares that Vest
	  	  	 	  	 
	  	  	 	  	 
	  	  	 	  	 
	  	  	 	  	 
	  	  	 	  	 
	  	  	 	  	 
	  	  	 	  	 
	  	  	 	  	 

 II. RESTRICTED STOCK AGREEMENT 
 1. Grant of Restricted Stock. Subject to the terms and conditions of this Agreement and the Plan, the Company granted to Grantee the
number of shares of Restricted Stock set forth in the Notice of Grant, effective on the Grant Date set forth in the Notice of Grant, and subject to the terms and conditions of the Plan, which is incorporated herein by reference. In the event of a
conflict between the terms and conditions of the Plan and this Agreement, the terms and conditions of the Plan shall govern. All capitalized terms in this Agreement shall have the meaning assigned to them in this Agreement or in the Plan.

  

 INTREPID POTASH, INC. RESTRICTED STOCK
AGREEMENT 

 2. Forfeiture Restrictions. Grantee shall not sell, transfer, assign, pledge or otherwise
encumber or dispose of, by operation of law or otherwise, the Restricted Stock for the period commencing on the Grant Date and ending on the dates described in the Vesting Schedule set forth in the Notice of Grant (the “Restriction
Period”). To enforce the restrictions set forth in this Paragraph 2, shares of Restricted Stock may be held in electronic or other book form in an account by the Company’s transfer agent or other designee until the restrictions set
forth in Paragraph 2 have lapsed with respect to such shares, or until this Agreement no longer is in effect. In the event the Committee elects not to hold the shares in electronic or other book form, the Restricted Stock shall be evidenced by the
issuance of share certificates in the name of Grantee with appropriate restrictive legends regarding restrictions on transfer and compliance with securities law requirements, as determined by the Committee. Any such certificates shall be held in the
custody of the Company until the restrictions set forth in this Paragraph 2 have lapsed with respect to the shares covered thereby, or until this Agreement is no longer in effect. 
 3. Vesting; Lapse of Restrictions. Except as provided otherwise in this Agreement and the Plan, if Grantee has been in continuous Service
since the Grant Date, the Restricted Stock shall vest as set forth on the Vesting Schedule in the Notice of Grant. Upon vesting, the restrictions in Paragraph 2 shall lapse and Grantee may transfer the shares of Stock in accordance with applicable
securities law requirements and the Company’s policies and procedures. 
 4. Termination of Service; Forfeiture.
Except as provided otherwise in this Agreement or the Plan, upon the termination of Grantee’s Service, any shares of Restricted Stock held by Grantee that have not vested in accordance with Paragraph 3 shall immediately be forfeited. Upon
forfeiture of the shares of Restricted Stock, Grantee shall have no further rights with respect to such shares, including but not limited to any right to vote the shares or any right to receive dividends. 
 5. Leave of Absence. For purposes of this grant of Restricted Stock, Service does not terminate when Grantee goes on a bona fide
employee leave of absence that was approved by the Company or an Affiliate in writing, if the terms of the leave provide for continued Service crediting, or when continued Service crediting is required by applicable law. However, Service will be
treated as terminating 90 days after Grantee went on the approved leave, unless Grantee’s right to return to active work is guaranteed by law or by a contract. Service terminates in any event when the approved leave ends unless Grantee
immediately returns to active Service. The Committee determines, in its sole discretion, which leaves of absence count for this purpose, and when Service terminates for all purposes under the Plan. 
 6. Dividends. During the Restriction Period, regular cash dividends declared and paid with respect to shares of Restricted Stock
shall be withheld by the Company and delivered to Grantee at the same time that the related Restricted Stock vests. If shares of Restricted Stock are forfeited pursuant to Paragraph 4, the related dividends shall be forfeited at the same time.
Grantee shall not be entitled to receive any special or extraordinary cash dividends or distributions during the Restriction Period. All shares distributed to Grantee, if any, with respect to shares of Restricted Stock as a result of any split,
stock dividend, combination of shares of stock, or other similar transaction shall be subject to the same restrictions during the Restriction Period as the related shares of Restricted Stock.  
 7. Tax Withholding. The Company or any Affiliate shall have the right to deduct from payments of any kind otherwise due to Grantee,
any federal, state, local or foreign taxes of 

  

 INTREPID POTASH, INC. RESTRICTED STOCK
AGREEMENT 
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any kind required by law to be withheld upon the issuance, vesting or payment of any shares of Stock or dividends. Subject to the prior approval of the
Committee, which may be withheld by the Committee, in its sole discretion, Grantee may elect to satisfy the minimum statutory withholding obligations, in whole or in part, (i) by having the Company withhold shares of Stock otherwise issuable to
Grantee or (ii) by delivering to the Company shares of Stock already owned by Grantee. The shares delivered or withheld shall have an aggregate Fair Market Value not in excess of the minimum statutory total tax withholding obligations. The Fair
Market Value of the shares used to satisfy the withholding obligation shall be determined by the Company as of the date that the amount of tax to be withheld is to be determined. Shares used to satisfy any tax withholding obligation must be vested
and cannot be subject to any repurchase, forfeiture, or other similar requirements. Any election to withhold shares shall be irrevocable, made in writing, signed by Grantee, and shall be subject to any restrictions or limitations that the Committee,
in its sole discretion, deems appropriate. 
 8. Effect of Prohibited Transfer. If any transfer of shares is made or attempted
to be made contrary to the terms of this Agreement, the Company shall have the right to acquire for its own account, without the payment of any consideration, such shares from the owner thereof or his transferee, at any time before or after such
prohibited transfer. In addition to any other legal or equitable remedies it may have, the Company may enforce its rights to specific performance to the extent permitted by law and may exercise such other equitable remedies then available. The
Company may refuse for any purpose to recognize any transferee who receives shares contrary to the provisions of this Agreement as a stockholder of the Company and may retain and/or recover all dividends on such shares that were paid or payable
subsequent to the date on which the prohibited transfer was made or attempted. 
 9. Market Stand-Off Agreement. In
connection with the initial public offering of shares of Common Stock of the Company (the “IPO”), Grantee agrees not to sell, make any short sale of, loan, hypothecate, pledge, grant any option for the purchase of, or
otherwise dispose or transfer for value or agree to engage in any of the foregoing transactions with respect to any shares of Stock without prior written consent of the Company or its underwriters, for such period of time after the effective date of
the IPO registration statement under the Securities Act as may be requested by the Company or the underwriters (not to exceed 180 days in length). 
 10. Investment Representations. The Committee may require Grantee (or Grantee’s estate or heirs) to represent and warrant in writing that the individual is acquiring the shares of Stock for investment and without
any present intention to sell or distribute such shares and to make such other representations as are deemed necessary or appropriate by the Company and its counsel. 
 11. No Right to Continued Service. Neither the grant of shares of Restricted Stock nor this Agreement gives Grantee the right to continue Service with the Company or its Affiliates in any capacity. The
Company and its Affiliates reserve the right to terminate Grantee’s Service at any time and for any reason not prohibited by law. 
 12.
Covenants. Grantee expressly covenants and agrees (a) not to divulge to others or use for Grantee’s own benefit any confidential information obtained during Grantee’s Service relating to the business and operations of
the Company or any of its Affiliates; and (b) during 

  

 INTREPID POTASH, INC. RESTRICTED STOCK
AGREEMENT 
 3 

 
and for twelve (12) months after Grantee’s Service, not to solicit or otherwise induce, directly or indirectly, any current employee of the Company
or any of its Affiliates to leave employment in order to work for any other person or entity. 
 13. Governing Law. The
validity and construction of this Agreement and the Plan shall be construed in accordance with and governed by the laws of the State of Delaware other than any conflicts or choice of law rule or principle that might otherwise refer construction or
interpretation of the Plan and this Agreement to the substantive laws of any other jurisdiction. 
 14. Binding Effect.
This Agreement shall be binding upon and inure to the benefit of the Company and Grantee and their respective heirs, executors, administrators, legal representatives, successors and assigns. 
 15. Tax Treatment; Section 83(b); Section 409A. Grantee may incur tax liability as a result of the vesting of shares of
Restricted Stock and payment of dividends or the disposition of shares of Stock. Grantee should consult his or her own tax adviser for tax advice. 
 Grantee hereby acknowledges that Grantee has been informed that he or she may file with the Internal Revenue Service, within 30 days of the Grant Date, an irrevocable election pursuant to Section 83(b) of the
Code to be taxed as of the Grant Date on the amount by which the Fair Market Value of the Restricted Stock on that date exceeds the amount paid for the Stock, if any. If Grantee chooses to file an election under Section 83(b) of the Code,
Grantee hereby agrees to promptly deliver a copy of any such election to the Chief Financial Officer of the Company (or his designee). 
 Grantee acknowledges that the Committee, in the exercise of its sole discretion and without Grantee’s consent, may amend or modify this Agreement in any manner and delay the payment of any amounts payable
pursuant to this Agreement to the minimum extent necessary to satisfy the requirements of Section 409A of the Code. The Company will provide Grantee with notice of any such amendment or modification. 
 16. Amendment. The terms and conditions set forth in this Agreement may only be amended by the written consent of the Company and
Grantee, except to the extent set forth in Section 14 regarding Section 409A of the Code and any other provision set forth in the Plan. 
 17. 2008 Equity Incentive Plan. The shares of Restricted Stock and payment of dividends granted hereunder shall be subject to such additional terms and conditions as may be imposed under the terms of the Plan, a copy of
which has been provided to Grantee. 
  

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

  

 INTREPID POTASH, INC. RESTRICTED STOCK
AGREEMENT 
 4 

			
	Date:	 	 

 [Grantee Signature Page Follows] 
  

 INTREPID POTASH, INC. RESTRICTED STOCK
AGREEMENT 
 5 

 ACKNOWLEDGMENT AND AGREEMENT 
 Grantee acknowledges receipt of this Agreement and agrees to all of the terms and conditions described in this Agreement and in the Plan, a copy of which
is attached. Grantee acknowledges that Grantee has carefully reviewed the Plan, and agrees that the Plan will control in the event that any provision in this Agreement is in conflict with the Plan. To accept this Agreement and the shares of
Restricted Stock evidenced thereunder, Grantee must sign and date this signature page and return it to the Company no later than __________. 
  

			
	GRANTEE
	
	 
	Signature
	Print Name:	 	 
	Date:	 	 

 Attachments: 
 2008 Equity Incentive Plan 
 Form S-8 Prospectus 
  

 INTREPID POTASH, INC. RESTRICTED STOCK
AGREEMENT 
 6

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