Document:

Repurchase Agreement

 Exhibit 10.2 
 UNITED STATES DEPARTMENT OF THE TREASURY 
 1500 Pennsylvania Avenue, NW 
 Washington, D.C. 20220 

September 27, 2011 
 Ladies
and Gentlemen: 
 Reference is made to that certain Letter Agreement incorporating the Securities Purchase Agreement –
Standard Terms (the “Securities Purchase Agreement”), dated as of the date set forth on Schedule A hereto, between the United States Department of the Treasury (the “Investor”) and the company set forth on Schedule
A hereto (the “Company”). Capitalized terms used but not defined herein shall have the meanings assigned to them in the Securities Purchase Agreement. Pursuant to the Securities Purchase Agreement, at the Closing, the Company issued
to the Investor the number of shares of the series of its preferred stock set forth on Schedule A hereto (the “Preferred Shares”) and a warrant to purchase the number of shares of its common stock set forth on Schedule A hereto (the
“Warrant”). 
 In connection with the consummation of the repurchase (the “Repurchase”) by the
Company from the Investor, on the date hereof, of the number of Preferred Shares listed on Schedule A hereto (the “Repurchased Preferred Shares”), as permitted by the Emergency Economic Stabilization Act of 2008, as amended by the
American Recovery and Reinvestment Act of 2009: 
 (a) The Company hereby acknowledges receipt from the Investor
of the share certificate(s) set forth on Schedule A hereto representing the Preferred Shares; and 
 (b) The
Investor hereby acknowledges receipt from the Company of a wire transfer to the account of the Investor set forth on Schedule A hereto in immediately available funds of the aggregate purchase price set forth on Schedule A hereto, representing
payment in full for the Repurchased Preferred Shares at a price per share equal to the Liquidation Amount per share, together with any accrued and unpaid dividends to, but excluding, the date hereof. 

The Investor and the Company hereby agree that, notwithstanding Section 4.4 of the Securities Purchase Agreement, immediately
following consummation of the Repurchase, but subject to compliance with applicable securities laws, the Investor shall be permitted to Transfer all or a portion of the Warrant with respect to, and/or exercise the Warrant for, all or a portion of
the number of shares of Common Stock issuable thereunder, at any time and without limitation, and Section 4.4 of the Securities Purchase Agreement shall be deemed to be amended in order to permit the foregoing. The Company shall take all steps
as may be reasonably requested by the Investor to facilitate any such Transfer. 

  

 In addition, the Company agrees that in the event it elects to repurchase the Warrant, it
shall deliver to the Investor within 15 calendar days of the date hereof a notice of intent to repurchase the Warrant, which notice shall be in accordance with Section 4.9(b) of the Securities Purchase Agreement (the “Warrant Repurchase
Notice”). In the event the Company does not deliver the Warrant Repurchase Notice to the Investor within 15 calendar days of the date hereof, the Investor hereby provides notice, pursuant to Section 4.5(p) of the Securities Purchase
Agreement, of its intention to sell the Warrant, such notice to be effective as of the first day following the end of such 15-day period. 
 In the event that the Company delivers a Warrant Repurchase Notice and the Company and the Investor fail to agree on the Fair Market Value of the Warrant pursuant to the procedures (including the
Appraisal Procedure), and in accordance with the time periods, set forth in Section 4.9(c) of the Securities Purchase Agreement or the Company revokes the delivery of such Warrant Repurchase Notice, then the Investor hereby provides notice of
its intention to sell the Warrant. 
 This letter agreement will be governed by and construed in accordance with the federal law
of the United States if and to the extent such law is applicable, and otherwise in accordance with the laws of the State of New York applicable to contracts made and to be performed entirely within such State. 

This letter agreement may be executed in any number of separate counterparts, each such counterpart being deemed to be an original
instrument, and all such counterparts will together constitute the same agreement. Executed signature pages to this letter agreement may be delivered by facsimile and such facsimiles will be deemed sufficient as if actual signature pages had been
delivered. 
 [Remainder of this page intentionally left blank] 

  
 -2-

 In witness whereof, the parties have duly executed this letter agreement as of the date
first written above. 
  

					
	UNITED STATES DEPARTMENT OF THE TREASURY
		
	By:	 	/s/ Timothy G. Massad
		 	Name:	 	Timothy G. Massad
		 	Title:	 	Assistant Secretary for Financial Stability
	
	ENCORE BANCSHARES, INC.
		
	By:	 	/s/ James S. D’Agostino, Jr.
		 	Name:	 	James S. D’Agostino, Jr.
		 	Title:	 	Chairman and Chief Executive Officer

  

 SCHEDULE A 

 

			
	 General Information:
	  	
		
	 Date of Letter Agreement incorporating the Securities Purchase Agreement:
	  	December 5, 2008
		
	 Name of the Company:
	  	Encore Bancshares, Inc.
		
	 Corporate or other organizational form of the Company:
	  	Corporation
		
	 Jurisdiction of organization of the Company:
	  	Texas
		
	 Number and series of preferred stock issued to the Investor at the Closing:
	  	34,000 shares of Fixed Rate Cumulative Perpetual Preferred Stock, Series A
		
	 Number of Initial Warrant Shares:
	  	364,025
		
	 Terms of the Repurchase:
	  	
		
	 Number of Preferred Shares purchased by the Company:
	  	34,000
		
	 Share certificate number (representing the Preferred Shares previously issued to the Investor at the Closing):
	  	A 001
		
	 Per share Liquidation Amount of Preferred Shares:
	  	$1,000.00
		
	 Accrued and unpaid dividends on Preferred Shares:
	  	$198,333.33
		
	 Aggregate purchase price for Repurchased Preferred Shares:
	  	$34,198,333.33
		
	 Investor wire information for payment of purchase price:
	  	 ABA Number: 

Bank: 
 Account Name: 

Account Number:Form of Employee Nonqualified Stock Option

 Exhibit 10(iii)(b) 

THE MOSAIC COMPANY 
 NON-QUALIFIED STOCK OPTION AGREEMENT (201[    ] Award) 

This NON-QUALIFIED STOCK OPTION AGREEMENT (the “Agreement”) is made this
         day of             , 201[    ], by and between The Mosaic Company, a Delaware corporation (the “Company”), and
             (the “Participant”). The “Grant Date” shall be             ,
201[    ]. 
 1. Grant of Option/Termination of Option. The Company hereby grants Participant the
option (the “Option”) to purchase all or any part of an aggregate of              shares (the “Shares”) of common stock of the Company (the “Common
Stock”) at the exercise price of $         per share according to the terms and conditions set forth in this Agreement and in The Mosaic Company 2004 Omnibus Stock and Incentive Plan (the
“Plan”). The Option will not be treated as an incentive stock option within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”). The Option is issued under the Plan and is subject to its
terms and conditions. A copy of the Plan will be furnished upon request of Participant. Unless terminated earlier in accordance with the terms of this Agreement, the Option shall terminate at the close of business ten (10) years from the date
hereof. 
 2. Vesting; Rights/Transferability. 
 (a) Except as otherwise provided in this Agreement, the Option may be exercised by Participant in accordance with the following schedule: 

 

			
	 On or After Each of

the Following Dates
	  	 Number of Shares

with respect to which
 the Option is Exercisable

	             ,
        
	  	
	             ,
        
	  	
	             ,
        
	  	

 (b) During the lifetime of Participant, the Option shall be exercisable only by Participant and shall not
be assignable or transferable by Participant, other than by will or the laws of descent and distribution. Notwithstanding the foregoing, Participant may transfer the Option to any Family Member (as such term is defined in the General Instructions to
Form S-8 (or successor to such General Instructions or such Form)), provided, however, that (i) Participant may not receive any consideration for such transfer, (ii) the Family Member must agree in writing not to make any subsequent
transfers of the Option other than by will or the laws of descent and distribution, and (iii) the Company receives prior written notice of such transfer. 
 3. Exercise of Option after Termination of Employment, Retirement, Death or Disability. The Option shall terminate and may no longer be exercised if Participant ceases to be employed by the Company
or its Affiliates, except that: 
 (a) If Participant’s employment shall be terminated for any reason, voluntary or
involuntary, other than (i) for “Cause” (as defined in Section 3(f)) as provided in Section 3(b) below, (ii) Participant’s retirement as provided in Section 3(c) below or (iii) Participant’s death or
disability (within the meaning of Section 22(e)(3) of the Code) as provided in Section 3(d) below, Participant may at any time within a period of three (3) months after such termination exercise the Option to the extent the Option was
exercisable by Participant on the date of the termination of Participant’s employment. 

 (b) If Participant’s employment is terminated for Cause, the Option shall be terminated
as of the date of the act giving rise to such termination. 
 (c) If Participant’s employment is terminated because
Participant has retired from the Company at age sixty (60) or older (or pursuant to early retirement with the consent of the Committee) and Participant shall not have fully exercised the Option, the Option shall continue to vest in accordance
with the schedule set forth in Section 2(a) hereof, and such Option may be exercised at any time within sixty (60) months after Participant’s date of termination of employment for retirement, except as otherwise provided in
Section 3(d) and Section 3(e) below. 
 (d) If Participant shall die while the Option is still exercisable according
to its terms or if Participant has become disabled (within the meaning of Section 22(e)(3) of the Code) while in the employ of the Company and Participant shall not have fully exercised the Option, the Option shall continue to vest in
accordance with the schedule set forth in Section 2(a) hereof, and such Option may be exercised at any time within sixty (60) months after Participant’s death or date of termination of employment for disability by Participant,
personal representatives or administrators or guardians of Participant, as applicable or by any person or persons to whom the Option is transferred by will or the applicable laws of descent and distribution, except as otherwise provided in
Section 3(e) below. 
 (e) Notwithstanding the above, in no case may the Option be exercised to any extent by anyone after
the termination date of the Option. 
 (f) “Cause” shall mean (i) the willful and continued failure by
Participant substantially to perform his or her duties and obligations (other than any such failure resulting from his or her incapacity due to physical or mental illness), (ii) Participant’s conviction or plea bargain of any felony or
gross misdemeanor involving moral turpitude, fraud or misappropriation of funds or (iii) the willful engaging by Participant in misconduct which causes substantial injury to the Company or its Affiliates, its other employees or the employees of
its Affiliates or its clients or the clients of its Affiliates, whether monetarily or otherwise. For purposes of this paragraph, no action or failure to act on Participant’s part shall be considered “willful” unless done or omitted to
be done, by Participant in bad faith and without reasonable belief that his or her action or omission was in the best interests of the Company. 
 4. Method of Exercise of Option. Subject to the foregoing, the Option may be exercised in whole or in part from time to time by serving written notice of exercise on the Company at its principal
office within the Option period. The notice shall state the number of Shares as to which the Option is being exercised and shall be accompanied by payment of the exercise price. Payment of the exercise price shall be made (i) in cash (including
bank check, personal check or money order payable to the Company), (ii) with the approval of the Company (which may be given in its sole discretion), by delivering to the Company for cancellation shares of the Company’s Common Stock
already owned by Participant having a Fair Market Value equal to the full exercise price of the Shares being acquired, or (iii) with the approval of the Company (which may be given in its sole discretion), by delivering to the Company a
combination thereof. 
 5. Change in Control 
 (a) In the event of a Change in Control in connection with which the holders of Common Stock receive shares of common stock that are registered under Section 12 of the Securities Exchange Act of
1934, as amended, (the “Exchange Act”) there shall be substituted for each share of Common Stock available upon exercise of the Options granted under this Agreement the number and class of shares into which each outstanding share of Common
Stock shall be converted pursuant to such Change in Control. In the event of any such substitution, the purchase price per share of each Option shall be appropriately 

  
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adjusted by the Committee (as defined in the Plan), such adjustments to be made without an increase in the aggregate purchase price of the Options. Such a conversion shall be done in a manner to
avoid subjecting the options to section 409A of the Internal Revenue Code. 
 (b) In the event a Qualified CIC Termination
occurs, then, unless the Committee determines, prior to the effective date of the Change in Control, to treat the Change in Control pursuant to the terms of clause (c) below, all outstanding and unvested Options shall immediately become
exercisable in full. 
 (c) In the event of a Change in Control (other than a Change in Control in connection with which the
holders of Common Stock receive consideration consisting solely of shares of common stock that are registered under Section 12 of the Exchange Act and the Committee has not determined, prior to the effective date of the Change in Control, to
treat the Change in Control pursuant to the terms of this clause (c)), each outstanding Option shall be surrendered to the Company by the holder thereof, and each such Option shall immediately be canceled by the Company, and the holder shall
receive, within ten days of the occurrence of such Change in Control, a cash payment from the Company in an amount equal to the number of shares of Common Stock then subject to such Option, multiplied by the excess, if any, of the highest per share
price offered to stockholders of the Company in any transaction whereby the Change in Control takes place, over the purchase price per share of Common Stock subject to the option. 

(d) “Change in Control” shall mean: 
 (i) a majority of the directors of the Company shall be persons other than persons (A) for whose election proxies shall have been solicited by the Board of Directors of the Company, or (B) who
are then serving as directors appointed by the Board of Directors to fill vacancies on the Board of Directors caused by death or resignation (but not by removal) or to fill newly-created directorships, 

(ii) 50% or more of the voting power of all of the outstanding shares of all classes and series of capital stock of the
Company entitled to vote in the general election of directors of the Company, voting together as a single class (the “Voting Stock”), of the Company is acquired or beneficially owned by any person, entity or group (within the meaning of
Section 13d(3) or 14(d)(2) of the Exchange Act) other than (A) an entity in connection with a Business Combination in which clauses (A) and (B) of subparagraph (iii) apply or (B) a licensed broker/dealer or licensed
underwriter who purchases shares of Voting Stock pursuant to an underwritten public offering solely for the purpose of resale to the public, 
 (iii) the consummation of a merger or consolidation of the Company with or into another entity, a sale or other disposition (in one transaction or a series of transactions) of all or substantially all of
the Company’s assets or a similar business combination (each, a “Business Combination”), in each case unless, immediately following such Business Combination, (A) all or substantially all of the beneficial owners of the
Company’s Voting Stock immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of the voting power of the then outstanding shares of Voting Stock (or comparable voting equity interests) of the
surviving or acquiring entity resulting from such Business Combination (including such beneficial ownership of an entity that, as a result of such transaction, owns the Company or all or substantially all of the Company’s assets either directly
or through one of more subsidiaries), in substantially the same proportions (as compared to the other beneficial owners of the Company’s Voting Stock immediately prior to such Business Combination) as their beneficial ownership of the
Company’s Voting Stock immediately prior to such Business Combination, and (B) no person, entity or group beneficially owns, directly or indirectly, 50% or more of the voting power of the outstanding voting stock (or comparable equity
interests) of the surviving or acquiring 

  
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entity (other than a direct or indirect parent entity of the surviving or acquiring entity, that, after giving effect to the Business Combination, beneficially owns, directly or indirectly, 100%
of the outstanding Voting Stock (or comparable equity interests) of the surviving or acquiring entity), or 

(iv) approval by the Company’s stockholders of a definitive agreement or plan to liquidate or dissolve the Company.

 (e) “Qualified CIC Termination” shall mean (i) the Company’s termination of Participant’s employment
without Cause (or Employee’s termination of employment for Good Reason), and (ii) such termination occurs either (A) upon, or within two years after, the occurrence of a Change in Control of the Company, or (B) at the time of, or
following, the entry by the Company into a definitive agreement or plan for a Change in Control of the nature set forth in Section 5(d)(ii), (iii), or (iv) (so long as such Change in Control occurs within six months after the effective
date of such termination). 
 (f) “Good Reason” shall mean: (i) Participant receives a material demotion in
status or duties; or (ii) any requirement by the Company that Participant move his regular office to a location more than 50 miles from the Company office at which Participant then was located immediately prior to a Change in Control; or
(iii) a material diminution in Participant’s base salary as in effect immediately prior to a Change in Control or as the same may be increased from time to time during the term of this Agreement. 

6. Miscellaneous 
 (a) Income Tax Matters. 
 (i) In order to comply with all
applicable federal or state income tax laws or regulations, the Company may take such action as it deems appropriate to ensure that all applicable federal or state payroll, withholding, income or other taxes, which are the sole and absolute
responsibility of Participant, are withheld or collected from Participant. 
 (ii) In accordance with the terms
of the Plan, and such rules as may be adopted under the Plan, Participant may elect to satisfy Participant’s federal and state income tax withholding obligations arising upon exercise of the Option by (i) delivering cash, check (bank
check, certified check or personal check) or money order payable to the Company or other form of payment acceptable to the Company in its sole discretion or (ii) having the Company withhold a portion of the Shares otherwise to be delivered
having a Fair Market Value equal to the amount of such taxes. The Company will not deliver any fractional Shares but will pay, in lieu thereof, the Fair Market Value of such fractional Shares. Participant’s election must be made on or before
the date that the amount of tax to be withheld is determined. 
 (b) Plan Provisions Control. In the event that any
provision of the Agreement conflicts with or is inconsistent in any respect with the terms of the Plan, the terms of the Plan shall control. Any term not otherwise defined in this Agreement shall have the meaning ascribed to it in the Plan.

 (c) Rationale for Grant. The Option granted pursuant to this Agreement is intended to offer Participant an incentive
to put forth maximum efforts in future services for the success of the Company’s business. The Option is not intended to compensate Participant for past services. 
 (d) No Rights of Stockholders. Neither Participant, Participant’s legal representative nor a permissible assignee of this Option shall have any of the rights and privileges of a stockholder of
the 

  
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Company with respect to the Shares, unless and until such Shares have been issued in accordance with the terms hereof. 
 (e) No Right to Employment. The grant of the Option shall not be construed as giving Participant the right to be retained in the employ of the Company or an Affiliate, nor will it affect in any way
the right of the Company or an Affiliate to terminate such employment at any time, with or without cause. In addition, the Company or an Affiliate may at any time dismiss Participant from employment free from any liability or any claim under the
Plan or the Agreement. Nothing in the Agreement shall confer on any person any legal or equitable right against the Company or any Affiliate, directly or indirectly, or give rise to any cause of action at law or in equity against the Company or an
Affiliate. The Option granted hereunder shall not form any part of the wages or salary of Participant for purposes of severance pay or termination indemnities, irrespective of the reason for termination of employment. Under no circumstances shall
any person ceasing to be an employee of the Company or any Affiliate be entitled to any compensation for any loss of any right or benefit under the Agreement or Plan which such employee might otherwise have enjoyed but for termination of employment,
whether such compensation is claimed by way of damages for wrongful or unfair dismissal, breach of contract or otherwise. By participating in the Plan, Participant shall be deemed to have accepted all the conditions of the Plan and the Agreement and
the terms and conditions of any rules and regulations adopted by the Committee and shall be fully bound thereby. 
 (f)
Governing Law. The validity, construction and effect of the Plan and the Agreement, and any rules and regulations relating to the Plan and the Agreement, shall be determined in accordance with the internal laws, and not the law of conflicts,
of the State of Delaware. Participant hereby submits to the nonexclusive jurisdiction and venue of the federal or state courts of Delaware to resolve any and all issues that may arise out of or relate to the Plan or the Agreement. 

(g) Severability. If any provision of the Agreement is or becomes or is deemed to be invalid, illegal or unenforceable in any
jurisdiction or would disqualify the Agreement under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to applicable laws, or if it cannot be so construed or deemed amended without, in the
determination of the Committee, materially altering the purpose or intent of the Plan or the Agreement, such provision shall be stricken as to such jurisdiction or the Agreement, and the remainder of the Agreement shall remain in full force and
effect. 
 (h) No Trust or Fund Created. Participant shall have no right, title, or interest whatsoever in or to any
investments that the Company, its Subsidiaries, and/or its Affiliates may make to aid it in meeting its obligations under the Plan. Neither the Plan nor the Agreement shall create or be construed to create a trust or separate fund of any kind or a
fiduciary relationship between the Company or any Affiliate and Participant or any other person. 
 (i) Headings.
Headings are given to the Sections and subsections of the Agreement solely as a convenience to facilitate reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of the Agreement or any
provision thereof. 
 (j) Conditions Precedent to Issuance of Shares. Shares shall not be issued pursuant to the exercise
of the Option unless such exercise and the issuance and delivery of the applicable Shares pursuant thereto shall comply with all relevant provisions of law, including, without limitation, the Securities Act of 1933, as amended, the Securities
Exchange Act of 1934, as amended, the rules and regulations promulgated thereunder, the requirements of any applicable Stock Exchange and the Delaware General Corporation Law. As a condition to the exercise of the Option, the Company may require
that the person exercising or paying the purchase price represent and warrant that the Shares are 

  
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being purchased only for investment and without any present intention to sell or distribute such Shares if, in the opinion of counsel for the Company, such a representation and warranty is
required by law. 
 IN WITNESS WHEREOF, the Company and Participant have executed this Agreement on the date set forth in
the first paragraph. 
  

			
	 THE MOSAIC COMPANY

		
	By:	 	  

			
	Name:	 	  

			
	Title:	 	  

	
	PARTICIPANT
	
	  

	Name:	 	  

  
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