Document:

EMPLOYMENT AGREEMENT

 Exhibit 10.3 
  
 EMPLOYMENT AGREEMENT 
  

This EMPLOYMENT AGREEMENT (“Agreement”), dated October 31, 2003, between James Juranitch, whose address is W360, N8251 Brown Street,
Oconomowoc, WI 53066 (“Employee” and/or “Juranitch”) and Quantum-Veritek, Inc., whose address is 28213 Van Dyke Ave, Warren, Michigan 48093, a Michigan limited liability company (the “Company”). 
  
 BACKGROUND 
  

	 	A.	Employee has been a principal executive, founder and technology developer of Veri-Tek International Corp. (“Veri-Tek”) since 1993 and in such capacity has developed an
intimate and thorough knowledge of the Veri-Tek’s business, its methods, trade secrets, intellectual property, and operations as well as personal relationships with key individuals at Veri-Tek. 

  

	 	B.	The Company has acquired all of the assets of Veri-Tek through an asset purchase agreement and further desires to secure the services of Employee for the benefit, growth,
development and enhancement of the value of the Company and the subsidiaries. 

  

	 	D.	The Company desires to engage Employee as the Chief Executive Officer, President and Chief Operating Officer and Employee desires to serve in such capacities.

  
 NOW, THEREFORE, intending to be legally
bound, and in consideration of the mutual promises and representations set forth in this Agreement, the Company and Employee agree as follows: 
  
 ARTICLE I - EMPLOYMENT, DUTIES AND TERM 
  
 1.01 Employment. The Company agrees to employ Employee, and Employee accepts employment with the Company, to serve as Chief Executive Officer,
President and Chief Operating Officer of the Company and as an officer or other capacity of any Subsidiary formed by the Company as determined by the Board of Directors of such Subsidiary on the terms and conditions set forth herein. 
  
 1.02 Duties and Responsibilities. During the Employment Term, as
defined below, Employee will render such services to the Company and its subsidiaries as are customary for the position held by Employee. During the Employment Term, Employee shall devote substantially all his time, ability and attention, and his
best efforts, to the business of the Company; provided, however, that nothing herein shall prevent Employee from overseeing his existing or future investments or enterprises provided that such other business are not competitive in any manner with
any business then being conducted by the Company or any of its subsidiaries, or investing in any business the shares of stock of which are publicly traded even if such businesses are competitive, or in any mutual or similar type of investment fund.

  
 1.03 Employment Term. The term of this Agreement shall
be for a period commencing on the date of this Agreement and continuing for one (1) year from such commencement date unless sooner terminated pursuant to the provisions of Section 3 of this Agreement. Commencing on the first anniversary of the
commencement date, and on every anniversary date thereafter, the term of 

  

 
employment shall be extended automatically for an additional one (1) year period unless sooner terminated pursuant to the provisions of Section 3 of this
Agreement or unless the Company or Employee, not less than 60 days prior to any such anniversary date, elects that such automatic extension no longer be effective and so notifies the other party. The period described in this Section, including such
extensions and renewals, shall be defined as the “Term of Employment.” 
  
 ARTICLE II - COMPENSATION 
  
 2.01 Compensation. Subject to Article III of this Agreement, as compensation for services hereunder and in consideration for the protective covenants set forth in Article IV of this Agreement, during the Employment Term the Employee
shall be entitled to the following compensation, which may be amended at the discretion of the Board of Directors. 
  

	 	A)	Base Salary. During the Term of Employment, Employee shall receive a base salary as follows: 

  

	 	1.	An annual rate equal to Two Hundred Thousand Dollars ($200,000) payable in accordance with the Company’s normal procedures for compensating employees, less all applicable state
and federal withholdings as required by law; and thereafter to be set by the Board of Directors of the Company. 

  

	 	B)	Incentive Bonus. In addition to the Base Salary, for each fiscal year during the Term of Employment, Employee shall be eligible to receive an Incentive Bonus
(“Incentive Bonus”), which bonus shall be set and determined by the Board of Directors based upon the achievements of the Company and the Employee during such fiscal year. The Incentive Bonus shall be payable on or before the 30th day
subsequent to the receipt of the Company’s audited financial statements for such fiscal year. 

  
 2.02 Employee Benefits. During the term of this Agreement, Employee will be entitled to participate in and receive the benefits of all
plans, benefits, and privileges given to employees and executives of the Company, whether now established or granted or which may come into existence hereafter, to the extent commensurate with his then duties and responsibilities as fixed by the
Agreement and the Company’s Board of Directors. 
  
 2.03
Expenses. During the Employment Term, the Company shall pay or reimburse Employee for all reasonable business travel and other expenses incurred or paid by him in connection with his performance under this Agreement, in accordance, with
the Company’s reimbursement policies and upon submission of satisfactory evidence thereof. 
  
 2.04 Vacation. Employee shall be entitled to take up to four (4) weeks paid vacation during each year of the term of this Agreement at the
time or times reasonably agreeable to both Employee and the Company. 
  

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 ARTICLE III - TERMINATION 
  
 3.01 Employee Election. In the event Employee elects to terminate his employment under this Agreement for
reasons other than death or permanent disability, the Salary payable pursuant to Article II hereof shall terminate effective the date of Employee’s termination of his employment. 
  
 3.02 Termination on Death or Disability. Either the Company or Employee shall have the right to terminate
Employee’s employment under this Agreement if Employee becomes permanently and totally disabled, which shall, for purposes of this Agreement, be defined as the permanent inability to satisfactorily perform Employee’s regular full time
duties as determined by the physician primarily responsible for the medical treatment of Employee; provided, however that any disability which continues without interruption for twelve (12) consecutive months shall be deemed total and permanent,
unless in the written medical opinions of the physician primarily responsible for the medical treatment of Employee and of a qualified physician selected by Company’s Board of Directors, Employee will be able to resume performing his regular
full time duties within a period of eighteen (18) months from the date on which the period of consecutive disability commenced. 
  
 3.03 Termination by Company 
  
 A. Early Termination. The Company may terminate Employee’s employment at any time, with or without Cause. For purposes of this
Agreement, the term “Cause” shall mean intentional theft, fraud, gross negligence, habitual neglect of duties, or perpetual violation of Company policies. 
  
 B. Constructive Termination. In the event at any time prior to the termination date of this Agreement
the Company’s Board of Directors shall fail to designate or elect Employee as President and Chief Operating Officer of the Company, or shall remove Employee from any such office, or change the duties and responsibilities of the offices held by
Employee such that the remaining duties and responsibilities are not commensurate with those generally belonging to the offices of an executive officer, and Employee shall not be in breach of this Agreement, and provided further that the Company has
not cured the foregoing within thirty (30) days after the occurrence of such event (“Cure Period”), the Employee shall have the right, upon written notice to the Company within thirty (30) days after the expiration of the Cure Period, to
deem his employment hereunder to have been terminated by the Company without cause effective thirty (30) days after such notice and the Company, as and for liquidated damages, shall make the payments specified in Section 3.04. In the event Employee
fails to exercise such alternative in writing, the Employee shall continue in employment for the Company upon the terms and conditions specified in this Agreement including Article II hereof, except that Employee shall no longer continue to perform
the duties of any office which he does not hold; provided, however, that in any event, Employee’s duties shall be that of, and shall be of a dignity and character appropriate to, a senior executive officer of the Company and the Employee shall
be entitled to incur on behalf of the Company reasonable expenses in connection with such duties. 
  
 3.04 Payments as Liquidated Damages. In the event that the (a) Employee’s employment with Company terminates pursuant to Section 3.02,
pursuant to 3.03(A) for reasons other than for Cause, or pursuant to 3.03(B), or (b) the Company gives notice that there will be no automatic renewal of this Agreement pursuant to Section 1.03 hereof, the Company, as and for severance and/or
liquidated damages, shall pay to Employee the greater of Employees salary for the remainder of the current contract term or a severance based upon Employee’s length of service with the Company as follows: 
  

			
	 Less than 3 years:
	  	three (3) months base salary
	 Greater than 3 years:
	  	one (1) years base salary

  

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 (the “Severance Payment”). If Employee’s employment with the Company is terminated for Cause, as defined
above, the Company shall have no obligation to Employee for payment of Severance Payment, or any other payment. 
  
 As a condition of Employee receiving the Severance Payment set forth above, Employee agrees that he will not directly or indirectly, verbally, or in
writing, disparage, defame, malign or otherwise impugn the character or integrity of the Company, its employees, officers or directors. Furthermore, Employee acknowledges and agrees that upon reasonable request of Company, Employee shall reasonably
cooperate with Company with respect to information and knowledge regarding the Company which is uniquely in the control and knowledge of Employee. 
  
 At the Company’s option, the Severance Payment shall be paid either (a) in equal monthly installments over the months following the termination date,
or (b) in one lump sum payable within thirty (30) days following the termination date. The Company shall withhold all applicable income and employment taxes from the Severance Payment. 
  
 ARTICLE IV - PROTECTIVE COVENANTS 
  
 4.01 Non-Competition. For the period commencing on the date that Employee’s employment with the Company
terminates, either voluntarily or involuntarily, and ending on the third anniversary thereof (unless the Employee is terminated by the Company other than for Cause (as defined in Article III), in which case for the period commencing on the date the
Company terminates the Employee and ending on the first anniversary thereof) Employee shall not, without the Company’s prior written consent (i) own, manage, operate, control, or participate in the ownership, management, operation or control
of, or be connected, directly or indirectly, as proprietor, partner, stockholder (other than ownership of not more than 20% of any class of securities of a publicly traded entity which engages in a Competing Activity, as defined herein), director,
officer, executive, employee, agent, advisor, consultant, independent contractor, joint venturer, investor or in any other capacity or manner whatsoever, with any entity which engages in any business which directly or indirectly competes with the
“Business” of the Company, that being as defined in the asset purchase agreement referred to in recital B hereof(collectively, the “Competing Activity”), (ii) directly or indirectly as proprietor, partner, stockholder, director,
officer, executive, employee, agent, advisor, creditor, consultant, joint venturer, investor or in any other capacity or manner whatsoever, solicit or hire directly or indirectly (in connection with or to be involved in any Competing Activity) any
person employed in the Company or the Subsidiaries business on or after the date hereof, or (iii) directly or indirectly as proprietor, partner, stockholder, director, officer, executive, employee, agent, advisor, creditor, consultant, independent
contractor, joint venturer, investor or in any other capacity or manner whatsoever, solicit directly or indirectly (in connection with any Competing Activity) any customers or accounts of the Company existing on or after the date hereof. 

 
 4.02 Trade Secrets. Employee agrees not to divulge, communicate,
use to the detriment of the Company, for Employee’s benefit or the benefit of any other person, firm, corporation, association or other entity, or misuse in any way, in whole or in part, any proprietary or confidential information or trade
secrets related to the Company, as they may exist from time to time, including, without limitation, the Company’s trade secrets, trademarks or other intellectual property rights, personnel information, 

  

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secret processes, know how, customer lists, or other technical, confidential or proprietary data. Employee acknowledges that the list of its customers as it
may exist from time to time, and the proprietary or confidential information, and trade secrets, are valuable, special and unique assets of the Company. Employee acknowledges and agrees that any information or data he has acquired on any of these
matters or items was received in confidence. Employee agrees to hold, as the property of the Company, all memoranda, books, papers, letters and other data and all copies thereof or therefrom, made by it or him or otherwise coming into its or his
possession, and at any time to deliver the same to the Company upon its demand. Trade secrets, confidential or proprietary information shall not include any information which is or becomes generally available to the public other than as a result of
the breach of this Agreement by Employee. 
  
 4.03 Reasonable
Limitations. Employee acknowledges that given the nature of the Company’s business the covenants contained in this Article IV contain reasonable limitations as to time, geographical area and scope of activity to be restrained, and do not
impose a greater restraint than is necessary to protect the legitimate business interests of the Company. If, however, this Article IV is determined by any court of competent jurisdiction to be unenforceable by reason of its extending for too long a
period of time or over too large a geographic area or by reason of its being too extensive in any other respect or for any other reason it will be interpreted to extend only over the longest period of time for which it may be enforceable and/or over
the largest geographical area as to which it may be enforceable and/or to the maximum extent in all other aspects as to which it may be enforceable, all as determined by such court and in such action 
  
 4.04 Breach of Covenants. Violation of any of the protective covenants
contained herein shall constitute a breach of trust and are grounds for immediate dismissal with cause and for appropriate legal action by the Company for damages including reasonable attorney fees and costs, enforcement and/or injunctive relief.

  
 4.05 Extension of Limitation Period. The parties
acknowledge that if Employee violates any of the protective covenants in this Article IV and the Company brings legal action for injunctive, damages or other relief hereunder, the Company shall, as a result of the time involved in obtaining the
relief, be deprived of the benefit of the full Limitation Period of these protective covenants. Accordingly, the Limitation Period shall be deemed to have the full duration of the period stated therein, computed from the date relief is granted, but
reduced by the time between the period when the restriction began to run and the date of the first violation of the covenant by Employee. 
  
 4.06 Survival of Protective Covenants. Each covenant on the part of Employee contained in this Article IV shall be construed as an agreement
independent of any other provision of this Agreement, and shall survive the termination of Employee’s employment under this Agreement, and the existence of any claim or cause of action (including without limitation, the Company’s alleged
breach of this Agreement) of Employee against the Company, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of such covenant. Notwithstanding the foregoing, no covenant on the part
of Employee contained in this Article IV shall survive if the Company (i) dissolves, (ii) commences a voluntary case or other proceeding seeking liquidation, reorganization or other relief under any bankruptcy, insolvency or similar law, or shall
make a general assignment for the benefit of creditors, or shall have an involuntary case or other proceeding instituted against it seeking similar relief, or (iii) otherwise ceases to do business as currently conducted. 
  
 4.07 Remedies for Breach. Employee acknowledges that the legal
remedies for breach of the protective covenants hereunder are inadequate and therefore agrees that, in addition to all of the 

  

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remedies available to the Company in the event of a breach or a threatened breach of any covenant contained in this Article IV, the Company may obtain
temporary, preliminary, and permanent injunctions and any other appropriate equitable relief against any and all such actions. 
  
 ARTICLE V - MISCELLANEOUS 
  
 5.01 Modification of This Agreement. Employee acknowledges and agrees that no one employed by or representing the Company has any authority to make
oral statements which modify, waive or discharge, in any manner, any provision of this Agreement. Employee further acknowledges and agrees that no provision of this Agreement may be modified, waived or discharged unless agreed to in writing, and
signed and executed by Employee and a majority of the members of the Board of Directors of the Company. Employee acknowledges and agrees that in executing this Agreement he has not relied upon any representation or statement made by the Company or
its representatives, other than these specifically stated in this Agreement. 
  
 5.02 Notices. All notices required or permitted hereunder shall be made in writing by hand-delivery, certified or registered first-class mail, facsimile transmission or air courier guaranteeing overnight
delivery to the other party at the addresses set forth above or to such other address as either of such parties may designate in a written notice served upon the other party in the manner provided herein. All notices required or permitted hereunder
shall be deemed duly given and received when delivered by hand, if personally delivered; on the fifth (5th) day next succeeding the date of mailing if sent by certified or registered first-class mail, when received if sent by facsimile transmission,
and on the next business day, if timely delivered to an air courier guaranteeing overnight delivery. 
  
 5.03 Waiver of Breach. The waiver by the Company or Employee of a breach of any provision of this Agreement by the other party shall not operate or
be construed as a waiver of any other or subsequent breach by the other party of such or any other provision. No delay or omission by the Company or Employee in exercising any right, remedy or power hereunder or existing at law or in equity shall be
construed as a waiver thereof, and any such right, remedy or power may be exercised by the Company or Employee from time to time and as often as may be deemed expedient or necessary by the Company or Employee in its or his sole discretion

  
 5.04 Severability. It is the intention of the parties
that the provisions contained herein shall be enforceable to the fullest extent permissible under applicable law, but that the unenforceability (or modification to conform to such law) of any provision or provisions hereof shall not render
unenforceable, or impair, the remainder hereof. If any term or provision of this Agreement or the application thereof to any person or circumstance shall, either in whole or in part, be held invalid or unenforceable by a court of competent
jurisdiction, this Agreement shall be deemed amended to delete or modify, as necessary, the offending provision or provisions and to alter the bounds thereof in order to render it valid and enforceable; but in such event the affected provisions of
this Agreement shall be curtailed and restricted only to the extent necessary to bring them within the applicable legal requirements, and the remainder of this Agreement shall not be affected. 
  
 5.05 Applicable Law: Jurisdiction. Each party irrevocably submits to
the exclusive jurisdiction of the federal and state courts for the State of Michigan for purposes of any action, suit or other proceeding arising out of this Agreement or any transaction contemplated hereby. The parties have agreed that this
Agreement shall be governed by, construed and enforced in accordance with the laws of the State of Michigan without giving effect to conflict of law principles. 
  

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 5.06 Settlement of Disputes. Any claims, controversies, demands, disputes, or differences between
the parties hereto arising out of, or by virtue of, or in connection with, or relating to this Agreement, Employee’s employment relationship with the Company or termination of such employment relationship shall be submitted to and settled by
arbitration in Southfield, Michigan before a single arbitrator who shall be knowledgeable in the field of business law and employment relations and such arbitration shall be in accordance with the rules of the American Arbitration Association then
in force. The parties agree to bear joint and equal responsibility for all fees of the arbitrator, abide by any decision rendered as final and binding, and waive the right to submit the dispute to a public tribunal for a jury or non-jury trial.
Nothing herein shall prohibit the Company from obtaining injunctive relief for violations of Article IV. 
  
 5.07 Headings. The headings used throughout this Agreement have been used for convenience only and do not constitute matter to be considered in
interpreting this Agreement. 
  
 5.08 Acknowledgment.
Employee acknowledges receipt of a copy of this Agreement, and agrees that his obligations hereunder shall be binding upon his heirs, assigns and legal representatives. Employee acknowledges and agrees that this Agreement contains the entire
agreement and understanding concerning the subject maker covered by this Agreement, and that this Agreement supersedes and replaces any other existing agreement, whether written or oral, entered into between Employee and the Company, relating
generally to the subject maker covered by this Agreement, including specifically any agreement that provides for the payment of severance benefits to Employee. 
  

							
	QUANTUM VERI-TEK, INC.	 	 	 	  
			
	 By: /s/ Michael C. Azar
	 	 	 	 /s/ James C. Juranitch

	 Michael C. Azar
	 	 	 	 James C. Juranitch

	 Its:
	 	 Vice President, Secretary
	 	 	 	 

  

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 AMENDMENT NO. 1 
 TO EMPLOYMENT AGREEMENT 
  
  This Amendment to Employment Agreement (“Amendment”), dated
October 10, 2004, between James C. Juranitch, whose address is W360, N8251 Brown Street, Oconomowoc, WI 53066 (“Employee” or “Juranitch”) and Veri-Tek, International Corp., whose address is 50120 Pontiac Trail, Pontiac, Michigan
48393 (the “Company”). 
   
 BACKGROUND 
  

	 	1.	Employee has been a principal executive of the Company since October, 2003. In connection with his Employment, Employee has executed an Employment Agreement (“Agreement”).

  

	 	2.	The Company has changed its management personnel to strengthen and supplement the current management. 

  

	 	3.	In connection with the Company’s change in its business, Employee has agreed to a change in his position and title. 

  

	 	4.	The Company has agreed that such voluntary reduction should not affect Employee’s Severance under Section 3.04 of the Agreement. 

  
 NOW, THEREFORE, intended to be legally bound, and in consideration of the
mutual promises and representations set forth in this Amendment, the Company and Employee agree as follows: 
  
 Section 1.01 of the Agreement shall be amended as follows: 
  

	 	1.	Employment. All references within the Agreement to Chief Executive Officer, President and Chief Operating Officer shall be replaced with “Chief Technical Officer.”

  

	 	2.	Limitation on Amendments. Except as set forth in Paragraph 1, all other terms and conditions of the Agreement shall remain unaffected hereby. 

  
 IN WITNESS WHEREOF, the parties have executed this Agreement on the day and
year set forth above. 
  

							
	VERI-TEK INTERNATIONAL CORP.	 	 	 	JAMES C. JURANITCH
			
	 DAVID V. HARPER
	 	 	 	 /s/    James C. Juranitch 

				
	 By:
	 	 /s/    David V. Harper
	 	 	 	 
				
	 Its:
	 	 VP & CFO
	 	 	 	 

   

 8The Mosaic Company 2004 Omnibus Stock and Incentive Plan

 Exhibit 10.6 

  
 THE MOSAIC COMPANY 
  
 2004 OMNIBUS STOCK AND INCENTIVE PLAN 
  

 Table of Contents 
  

					
	 Section 1.
	  	Purpose	  	1
			
	 Section 2.
	  	Definitions	  	1
			
	 Section 3.
	  	Administration	  	4
	 (a)
	  	Power and Authority of the Committee	  	4
	 (b)
	  	Power and Authority of the Board	  	4
			
	 Section 4.
	  	Shares Available for Awards	  	4
	 (a)
	  	Shares Available	  	4
	 (b)
	  	Accounting for Awards	  	5
	 (c)
	  	Adjustments	  	5
	 (d)
	  	Award Limitations Under the Plan	  	5
			
	 Section 5.
	  	Eligibility	  	6
			
	 Section 6.
	  	Awards	  	6
	 (a)
	  	Options	  	6
	 (b)
	  	Stock Appreciation Rights	  	8
	 (c)
	  	Restricted Stock and Restricted Stock Units	  	8
	 (d)
	  	Performance Awards	  	9
	 (e)
	  	Dividend Equivalents	  	9
	 (f)
	  	Other Stock Grants	  	10
	 (g)
	  	Other Stock-Based Awards	  	10
	 (h)
	  	General	  	10
			
	 Section 7.
	  	Amendment and Termination; Adjustments	  	12
	 (a)
	  	Amendments to the Plan	  	12
	 (b)
	  	Amendments to Awards	  	12
	 (c)
	  	Correction of Defects, Omissions and Inconsistencies	  	13
			
	 Section 8.
	  	Income Tax Withholding	  	13
			
	 Section 9.
	  	General Provisions	  	13
	 (a)
	  	No Rights to Awards	  	13
	 (b)
	  	Award Agreements	  	13
	 (c)
	  	Plan Provisions Control	  	13
	 (d)
	  	No Rights of Stockholders	  	13
	 (e)
	  	No Limit on Other Compensation Arrangements	  	13
	 (f)
	  	No Right to Employment	  	14
	 (g)
	  	Governing Law	  	14
	 (h)
	  	Severability	  	14
	 (i)
	  	No Trust or Fund Created	  	14
	 (j)
	  	Other Benefits	  	15

  

 ii 

					
	 (k)
	  	No Fractional Shares	  	15
	 (l)
	  	Headings	  	15
	 (m)
	  	Section 16 Compliance; Section 162(m) Administration	  	15
	 (n)
	  	Conditions Precedent to Issuance of Shares	  	15
	 (o)
	  	Forfeiture for Financial Reporting Misconduct	  	15
	 (p)
	  	Employees Based Outside of the United States	  	16
			
	 Section 10.
	  	Effective Date of the Plan	  	16
			
	 Section 11.
	  	Term of the Plan	  	16

  

 iii 

 THE MOSAIC COMPANY 
 2004 OMNIBUS STOCK AND INCENTIVE PLAN 
  
 Section 1. Purpose 
  
 The purpose of the Plan is
to promote the interests of the Company and its stockholders by aiding the Company in attracting and retaining employees, officers, consultants, agents, advisors, independent contractors and directors capable of assuring the future success of the
Company, to offer such persons incentives to put forth maximum efforts for the success of the Company’s business and to afford such persons an opportunity to acquire a proprietary interest in the Company. 
  
 Section 2. Definitions 
  
 As used in the Plan, the following terms shall have the meanings set forth below: 
  
 (a) “Affiliate” shall mean (i) any entity that, directly or
indirectly through one or more intermediaries, is controlled by the Company and (ii) any entity in which the Company has a significant equity interest, in each case as determined by the Committee. 
  
 (b) “Award” shall mean any Option, Stock Appreciation Right,
Restricted Stock, Restricted Stock Unit, Performance Award, Dividend Equivalent, Other Stock Grant or Other Stock-Based Award granted under the Plan. 
  
 (c) “Award Agreement” shall mean any written agreement, contract or other instrument or document evidencing any Award granted under the Plan.
Each Award Agreement shall be subject to the applicable terms and conditions of the Plan and any other terms and conditions (not inconsistent with the Plan) determined by the Committee. 
  
 (d) “Board” shall mean the Board of Directors of the Company. 
  
 (e) “Code” shall mean the Internal Revenue Code of 1986, as amended
from time to time, and any regulations promulgated thereunder. 
  
 (f) “Committee” shall mean a committee of Directors designated by the Board to administer the Plan, which shall initially be the Compensation Committee of the Board or a subcommittee thereof. The Committee shall be comprised of
not less than such number of Directors as shall be required to permit Awards granted under the Plan to qualify under Rule 16b-3 and Section 162(m) of the Code, and each member of the Committee shall be a “Non-Employee Director.”

  
 (g) “Company” shall mean The Mosaic Company, a
Delaware corporation, and any successor corporation. 
  
 (h)
“Director” shall mean a member of the Board, including any Non-Employee Director. 

 (i) “Dividend Equivalent” shall mean any right granted under Section 6(e) of the Plan.

  
 (j) “Eligible Person” shall mean any employee,
officer, consultant, agent, advisor, independent contractor or director providing services to the Company or any Affiliate who the Committee determines to be an Eligible Person. 
  
 (k) “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 
  
 (l) “Fair Market Value” shall mean, with respect to any property
(including, without limitation, any Shares or other securities), the fair market value of such property determined by such methods or procedures as shall be established from time to time by the Committee. Notwithstanding the foregoing and unless
otherwise determined by the Committee, the Fair Market Value of a Share as of a given date shall be, if the Shares are then listed on the New York Stock Exchange, the closing sale price of one Share as reported on the New York Stock Exchange on such
date or, if the Shares are not traded on the New York Stock Exchange on such date, on the most recent preceding date when the Shares were so traded. 
  
 (m) “Incentive Stock Option” shall mean an option granted under Section 6(a) of the Plan that is intended to qualify as an “incentive stock
option” in accordance with the terms of Section 422 of the Code or any successor provision. 
  
 (n) “Non-Employee Director” shall mean any Director who is not also an employee of the Company or an Affiliate within the meaning of Rule 16b-3
and an “outside director” within the meaning of Section 162(m) of the Code. 
  
 (o) “Non-Qualified Stock Option” shall mean an option granted under Section 6(a) of the Plan that is not an Incentive Stock Option. 
  
 (p) “Option” shall mean an Incentive Stock Option or a Non-Qualified Stock Option. 
  
 (q) “Other Stock Grant” shall mean any right granted under Section
6(f) of the Plan. 
  
 (r) “Other Stock-Based Award”
shall mean any right granted under Section 6(g) of the Plan. 
  
 (s) “Participant” shall mean an Eligible Person designated to be granted an Award under the Plan. 
  
 (t) “Performance Award” shall mean any right granted under Section 6(d) of the Plan. 
  
 (u) “Performance Goal” shall mean one or more of the following
performance goals, either individually, alternatively or in any combination, applied on a corporate, subsidiary or business unit basis: revenue, cash flow, gross profit, earnings before interest and taxes, earnings before interest, taxes,
depreciation and amortization and net earnings, earnings per share, margins (including one or more of gross, operating and net income margins), returns (including one or more of return on assets, equity, investment, capital and revenue and total
stockholder 
  

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 return), stock price, economic value added, working capital, market share, cost reductions, workforce satisfaction and
diversity goals, employee retention, customer satisfaction, completion of key projects and strategic plan development and implementation. Such goals may reflect absolute entity or business unit performance or a relative comparison to the performance
of a peer group of entities or other external measure of the selected performance criteria. Pursuant to rules and conditions adopted by the Committee on or before the earlier of (i) the 90th day of the applicable
performance period or (ii) the day upon which 25% of the applicable performance period shall have been completed, for which Performance Goals are established, the Committee may appropriately adjust any evaluation of performance under such goals to
exclude the effect of certain events, including any of the following events: asset write-downs; litigation or claim judgments or settlements; changes in tax law, accounting principles or other such laws or provisions affecting reported results;
severance, contract termination and other costs related to exiting certain business activities; and gains or losses from the disposition of businesses or assets or from the early extinguishment of debt. 
  
 (v) “Person” shall mean any individual or entity, including a
corporation, partnership, limited liability company, association, joint venture or trust. 
  
 (w) “Plan” shall mean The Mosaic Company 2004 Omnibus Stock and Incentive Plan, as amended from time to time, the provisions of which are set forth herein. 
  
 (x) “Reload Option” shall mean any Option granted under Section
6(a)(v) of the Plan. 
  
 (y) “Restricted Stock” shall
mean any Share granted under Section 6(c) of the Plan. 
  
 (z)
“Restricted Stock Unit” shall mean any unit granted under Section 6(c) of the Plan evidencing the right to receive a Share (or a cash payment equal to the Fair Market Value of a Share) at some future date. 
  
 (aa) “Rule 16b-3” shall mean Rule 16b-3 promulgated by the
Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended, or any successor rule or regulation. 
  
 (bb) “Section 162(m)” shall mean Section 162(m) of the Code and the applicable Treasury Regulations promulgated thereunder. 
  
 (cc) “Securities Act” shall mean the Securities Act of 1933, as
amended. 
  
 (dd) “Share” or “Shares” shall
mean a share or shares of common stock, $0.01 par value per share, of the Company or such other securities or property as may become subject to Awards pursuant to an adjustment made under Section 4(c) of the Plan. 
  
 (ee) “Stock Appreciation Right” shall mean any right granted under
Section 6(b) of the Plan. 
  

 3 

 Section 3. Administration 
  
 (a) Power and Authority of the Committee. The Plan shall be administered by the Committee. Subject to the express
provisions of the Plan and to applicable law, the Committee shall have full power and authority to: (i) designate Participants; (ii) determine the type or types of Awards to be granted to each Participant under the Plan; (iii) determine the number
of Shares to be covered by (or the method by which payments or other rights are to be determined in connection with) each Award; (iv) determine the terms and conditions of any Award or Award Agreement; (v) amend the terms and conditions of any Award
or Award Agreement and accelerate the exercisability of any Option or waive any restrictions relating to any Award; (vi) determine whether, to what extent and under what circumstances Awards may be exercised in cash, Shares, promissory notes
(provided, however, that the par value of any Shares to be issued pursuant to such exercise shall be paid in the form of cash, services rendered, personal property, real property or a combination thereof, and provided, further,
that the acceptance of such promissory notes does not conflict with Section 402 of the Sarbanes-Oxley Act of 2002), other securities, other Awards or other property, or canceled, forfeited or suspended; (vii) determine whether, to what extent and
under what circumstances cash, Shares, promissory notes (provided, however, that the acceptance of such promissory notes does not conflict with Section 402 of the Sarbanes-Oxley Act of 2002), other securities, other Awards, other
property and other amounts payable with respect to an Award under the Plan shall be deferred either automatically or at the election of the holder thereof or the Committee (provided, however, that the par value of any Shares and
Restricted Stock shall be paid in the form of cash, services rendered, personal property, real property or a combination thereof prior to their issuance); (viii) interpret and administer the Plan and any instrument or agreement, including an Award
Agreement, relating to the Plan; (ix) establish, amend, suspend or waive such rules and regulations and appoint such agents as it shall deem appropriate for the proper administration of the Plan, including the right to delegate authority under the
Plan, subject to Section 162(m); and (x) make any other determination and take any other action that the Committee deems necessary or desirable for the administration of the Plan. Unless otherwise expressly provided in the Plan, all actions taken
and all designations, determinations, interpretations and other decisions under or with respect to the Plan or any Award shall be within the sole discretion of the Committee, may be made at any time and shall be final, conclusive and binding upon
any Eligible Person and any holder or beneficiary of any Award. 
  
 (b) Power and Authority of the Board. Notwithstanding anything to the contrary contained herein, but subject to the requirements of Section 162(m), the Board may, at any time and from time to time, without any further action of the
Committee, exercise the powers and duties of the Committee under the Plan. 
  
 Section 4. Shares Available for Awards 
  
 (a)
Shares Available. Subject to adjustment as provided in Section 4(c) of the Plan, the aggregate number of Shares that may be issued under the Plan shall be 10,000,000. Shares to be issued under the Plan may be either authorized but
unissued Shares or Shares re-acquired and held in treasury. Notwithstanding the foregoing, the number of Shares available for granting Incentive Stock Options under the Plan shall not exceed 10,000,000, subject to adjustment as provided in Section
4(c) of the Plan and subject to the provisions of Section 422 or 424 of the Code or any successor provision. 
  

 4 

 (b) Accounting for Awards. For purposes of this Section 4, if an Award entitles the holder thereof
to receive or purchase Shares, the number of Shares covered by such Award or to which such Award relates shall be counted on the date of grant of such Award against the aggregate number of Shares available for granting Awards under the Plan. Any
Shares that are used by a Participant as full or partial payment to the Company of the purchase price relating to an Award, including in connection with the exercise of an SAR or Shares tendered in connection with the grant of a Reload Option, or in
connection with the satisfaction of tax obligations relating to an Award, shall again be available for granting Awards under the Plan. In addition, if any Shares covered by an Award or to which an Award relates are not purchased or are forfeited, or
if an Award otherwise terminates without delivery of any Shares, then the number of Shares counted against the aggregate number of Shares available under the Plan with respect to such Award, to the extent of any such forfeiture or termination, shall
again be available for granting Awards under the Plan. 
  
 (c)
Adjustments. In the event that the Committee shall determine that any dividend or other distribution (whether in the form of cash, Shares, other securities or other property), recapitalization, stock split, reverse stock split,
reorganization, merger, consolidation, split-up, spin-off, combination, repurchase or exchange of Shares or other securities of the Company, issuance of warrants or other rights to purchase Shares or other securities of the Company or other similar
corporate transaction or event affects the Shares such that an adjustment is determined by the Committee to be appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the
Plan, then the Committee shall, in its sole discretion and in such manner as it may deem equitable, adjust any or all of (i) the number and type of Shares (or other securities or other property) that thereafter may be made the subject of Awards,
(ii) the number and type of Shares (or other securities or other property) subject to outstanding Awards, (iii) the purchase price or exercise price with respect to any Award and (iv) the limitations contained in Section 4(d) of the Plan;
provided, however, that the number of Shares covered by any Award or to which such Award relates shall always be a whole number. Notwithstanding the above, in the event (i) of any reorganization, merger, consolidation, split-up,
spin-off, combination, repurchase or exchange of Shares or other securities of the Company or any other similar corporate transaction or event or (ii) the Company shall enter into a written agreement to undergo such a transaction or event, the
Committee may, in its sole discretion, cancel any or all outstanding Awards and pay to the holders of any such Awards that are otherwise vested, in cash, the value of such Awards based upon the price per share of capital stock received or to be
received by other stockholders of the Company in such event. 
  
 (d) Award Limitations Under the Plan. 
  
 (i) Section 162(m) Limitation for Certain Types of Awards. No Eligible Person may be granted any Award or Awards under the Plan, the value of which Award or Awards is based solely on an increase in the value of the Shares after the
date of grant of such Award or Awards, for more than 1,000,000 Shares (subject to adjustment as provided for in Section 4(c) of the Plan), in the aggregate in any fiscal year. The 
  

 5 

 foregoing annual limitation specifically includes the grant of any Award or Awards representing
“qualified performance-based compensation” within the meaning of Section 162(m) of the Code. 
  
 (ii) Section 162(m) Limitation for Performance Awards. The maximum amount payable pursuant to all Performance Awards to any
Participant in the aggregate in any fiscal year shall be $5,000,000 in value, whether payable in cash, Shares or other property. This limitation does not apply to any Award subject to the limitation contained in Section 4(d)(i) of the Plan.

  
 Section 5. Eligibility 
  
 Any Eligible Person shall be eligible to be designated a Participant. In
determining which Eligible Persons shall receive an Award and the terms of any Award, the Committee may take into account the nature of the services rendered by the respective Eligible Persons, their present and potential contributions to the
success of the Company or such other factors as the Committee, in its discretion, shall deem relevant. Notwithstanding the foregoing, an Incentive Stock Option may only be granted to full-time or part-time employees (which term as used herein
includes, without limitation, officers and directors who are also employees), and an Incentive Stock Option shall not be granted to an employee of an Affiliate unless such Affiliate is also a “subsidiary corporation” of the Company within
the meaning of Section 424(f) of the Code or any successor provision. 
  
 Section 6. Awards 
  
 (a) Options. The
Committee is hereby authorized to grant Options to Eligible Persons with the following terms and conditions and with such additional terms and conditions not inconsistent with the provisions of the Plan as the Committee shall determine: 

 
 (i) Exercise Price. The purchase price per Share
purchasable under an Option shall be determined by the Committee; provided, however, that such purchase price shall not be less than 100% of the Fair Market Value of a Share on the date of grant of such Option; provided,
further, that the Committee may designate a per share exercise price below Fair Market Value on the date of grant (A) to the extent necessary or appropriate, as determined by the Committee, to satisfy applicable legal or regulatory requirements
of a foreign jurisdiction or (B) if the Option is granted in substitution for a stock option previously granted by an entity that is acquired by or merged with the Company or an Affiliate. 
  
 (ii) Option Term. The term of each Option shall be
fixed by the Committee at the time of grant. 
  
 (iii) Time and Method of Exercise. The Committee shall determine the time or times at which an Option may be exercised in whole or in part and the method or methods by which, and the form or forms (including, without limitation,
cash, Shares, promissory notes (provided, however, that the par value of any Shares to be issued pursuant to such exercise shall be paid in the form of cash, services rendered, personal property, real property or a combination thereof,
and provided, further, that the 
  

 6 

 acceptance of such promissory notes does not conflict with Section 402 of the Sarbanes-Oxley Act of
2002), other securities, other Awards or other property, or any combination thereof, having a Fair Market Value on the exercise date equal to the applicable exercise price) in which, payment of the exercise price with respect thereto may be made or
deemed to have been made. 
  
 (iv) Incentive
Stock Options. Notwithstanding anything in the Plan to the contrary, the following additional provisions shall apply to the grant of stock options which are intended to qualify as Incentive Stock Options: 
  
 (A) The Committee will not grant Incentive Stock Options in
which the aggregate Fair Market Value (determined as of the time the option is granted) of the Shares with respect to which Incentive Stock Options are exercisable for the first time by any Participant during any calendar year (under this Plan and
all other plans of the Company and its Affiliates) shall exceed $100,000. 
  
 (B) All Incentive Stock Options must be granted within ten years from the earlier of the date on which this Plan was adopted by the Board or the date this Plan was approved by the stockholders of the Company.

  
 (C) Unless sooner exercised, all Incentive
Stock Options shall expire and no longer be exercisable no later than 10 years after the date of grant; provided, however, that in the case of a grant of an Incentive Stock Option to a Participant who, at the time such Option is
granted, owns (within the meaning of Section 422 of the Code) stock possessing more than 10% of the total combined voting power of all classes of stock of the Company or of its Affiliate, such Incentive Stock Option shall expire and no longer be
exercisable no later than 5 years from the date of grant. 
  
 (D) The purchase price per Share for an Incentive Stock Option shall be not less than 100% of the Fair Market Value of a Share on the date of grant of the Incentive Stock Option; provided, however, that,
in the case of the grant of an Incentive Stock Option to a Participant who, at the time such Option is granted, owns (within the meaning of Section 422 of the Code) stock possessing more than 10% of the total combined voting power of all classes of
stock of the Company or of its Affiliate, the purchase price per Share purchasable under an Incentive Stock Option shall be not less than 110% of the Fair Market Value of a Share on the date of grant of the Inventive Stock Option. 
  
 (E) Any Incentive Stock Option authorized under the Plan
shall contain such other provisions as the Committee shall deem advisable, but shall in all events be consistent with and contain all provisions required in order to qualify the Option as an Incentive Stock Option. 
  
 (v) Reload Options. The Committee may grant Reload
Options, separately or together with another Option and subject to the terms and conditions established by the Committee, pursuant to which the Participant would be granted a new Non-Qualified 
  

 7 

 Stock Option when the payment of the exercise price of a previously granted option for common stock is
made by the delivery of Shares owned by the Participant pursuant to Section 6(a)(iii) hereof or the relevant provisions of another plan of the Company, when Shares are tendered or withheld as payment of the amount to be withheld under applicable
income tax laws in connection with the exercise of an Option, which new Non-Qualified Stock Option would be a Non-Qualified Stock Option to purchase the number of Shares not exceeding the sum of (A) the number of Shares so provided as consideration
upon the exercise of the previously granted option to which such Reload Option relates and (B) the number of Shares, if any, tendered or withheld as payment of the amount to be withheld under applicable tax laws in connection with the exercise of
the option to which such Reload Option relates pursuant to the relevant provisions of the plan or agreement relating to such option. Reload Options may be granted with respect to options previously granted under the Plan or any other stock option
plan of the Company or any Affiliate or may be granted in connection with any option granted under the Plan or any other stock option plan of the Company or any Affiliate at the time of such grant. Such Reload Options shall have a per share exercise
price equal to the Fair Market Value of one Share as of the date of grant of the new Non-Qualified Stock Option. Any Reload Option shall be subject to availability of sufficient Shares for grant under the Plan. Shares surrendered as part or all of
the exercise price of the Non-Qualified Stock Option to which it relates that have been owned by the optionee less than six months shall not be used to exercise an option and will not be counted for purposes of determining the number of Shares that
may be purchased pursuant to a Reload Option. 
  
 (b) Stock
Appreciation Rights. The Committee is hereby authorized to grant Stock Appreciation Rights to Eligible Persons subject to the terms of the Plan. Each Stock Appreciation Right granted under the Plan shall confer on the holder upon exercise the
right to receive, as determined by the Committee, cash or a number of Shares equal to the excess of (i) the Fair Market Value of one Share on the date of exercise (or, if the Committee shall so determine, at any time during a specified period before
or after the date of exercise) over (ii) the grant price of the Stock Appreciation Right as determined by the Committee, which grant price shall not be less than 100% of the Fair Market Value of one Share on the date of grant of the Stock
Appreciation Right; provided, however, that the Committee may designate a per share grant price below Fair Market Value on the date of grant (A) to the extent necessary or appropriate, as determined by the Committee, to satisfy applicable
legal or regulatory requirements of a foreign jurisdiction or (B) if the Stock Appreciation Right is granted in substitution for a stock appreciation right previously granted by an entity that is acquired by or merged with the Company or an
Affiliate. Subject to the terms of the Plan, the grant price, term, methods of exercise, dates of exercise, methods of settlement and any other terms and conditions (including conditions or restrictions on the exercise thereof) of any Stock
Appreciation Right shall be as determined by the Committee. 
  
 (c) Restricted Stock and Restricted Stock Units. The Committee is hereby authorized to grant Restricted Stock and Restricted Stock Units to Eligible Persons with the following terms and conditions and with such additional terms and
conditions not inconsistent with the provisions of the Plan as the Committee shall determine: 
  

 8 

 (i) Restrictions. Shares of Restricted Stock and Restricted Stock Units shall be
subject to such restrictions as the Committee may impose (including, without limitation, a restriction on or prohibition against the right to receive any dividend or other right or property with respect thereto), which restrictions may lapse
separately or in combination at such time or times, in such installments or otherwise as the Committee may deem appropriate. 
  
 (ii) Issuance and Delivery of Shares. Any Restricted Stock granted under the Plan shall be issued at the time such Awards are
granted and may be evidenced in such manner as the Committee may deem appropriate, including book-entry registration or issuance of a stock certificate or certificates, which certificate or certificates shall be held by the Company. Such certificate
or certificates shall be registered in the name of the Participant and shall bear an appropriate legend referring to the restrictions applicable to such Restricted Stock. Shares representing Restricted Stock that is no longer subject to restrictions
shall be delivered to the Participant promptly after the applicable restrictions lapse or are waived. In the case of Restricted Stock Units, no Shares shall be issued at the time such Awards are granted. Upon the lapse or waiver of restrictions and
the restricted period relating to Restricted Stock Units evidencing the right to receive Shares, such Shares shall be issued and delivered to the holder of the Restricted Stock Units. 
  
 (iii) Forfeiture. Except as otherwise determined by the Committee, upon a Participant’s
termination of employment or resignation or removal as a Director (in each case as determined under criteria established by the Committee) during the applicable restriction period, all applicable Shares of Restricted Stock and Restricted Stock Units
at such time subject to restriction shall be forfeited and reacquired by the Company; provided, however, that the Committee may, when it finds that a waiver would be in the best interest of the Company, waive in whole or in part any or
all remaining restrictions with respect to Shares of Restricted Stock or Restricted Stock Units. 
  
 (d) Performance Awards. The Committee is hereby authorized to grant to Eligible Persons Performance Awards which are intended to be “qualified
performance-based compensation” within the meaning of Section 162(m). A Performance Award granted under the Plan may be payable in cash or in Shares (including, without limitation, Restricted Stock). Performance Awards shall, to the extent
required by Section 162(m), be conditioned solely on the achievement of one or more objective Performance Goals, and such Performance Goals shall be established by the Committee within the time period prescribed by, and shall otherwise comply with
the requirements of, Section 162(m). Subject to the terms of the Plan and any applicable Award Agreement, the Performance Goals to be achieved during any performance period, the length of any performance period, the amount of any Performance Award
granted, the amount of any payment or transfer to be made pursuant to any Performance Award and any other terms and conditions of any Performance Award shall be determined by the Committee. The Committee shall also certify in writing that such
Performance Goals have been met prior to payment of the Performance Awards to the extent required by Section 162(m). 
  
 (e) Dividend Equivalents. The Committee is hereby authorized to grant Dividend Equivalents to Eligible Persons under which the Participant shall be
entitled to receive payments (in cash, Shares, other securities, other Awards or other property as determined in the discretion 
  

 9 

 of the Committee) equivalent to the amount of cash dividends paid by the Company to holders of Shares with respect to a
number of Shares determined by the Committee. Subject to the terms of the Plan, such Dividend Equivalents may have such terms and conditions as the Committee shall determine. 
  
 (f) Other Stock Grants. The Committee is hereby authorized, subject to the terms of the Plan, to grant to Eligible
Persons Shares without restrictions thereon as are deemed by the Committee to be consistent with the purpose of the Plan. Subject to the terms of the Plan and any applicable Award Agreement, such Other Stock Grant may have such terms and conditions
as the Committee shall determine. 
  
 (g) Other Stock-Based
Awards. The Committee is hereby authorized to grant to Eligible Persons, subject to the terms of the Plan, such other Awards that are denominated or payable in, valued in whole or in part by reference to, or otherwise based on or related to,
Shares (including, without limitation, securities convertible into Shares), as are deemed by the Committee to be consistent with the purpose of the Plan. Shares or other securities delivered pursuant to a purchase right granted under this Section
6(g) shall be purchased for such consideration, which may be paid by such method or methods and in such form or forms (including, without limitation, cash, Shares, promissory notes (provided, however, that the par value of any Shares
to be issued pursuant to such exercise shall be paid in the form of cash, services rendered, personal property, real property or a combination thereof, and provided, further, that the acceptance such promissory notes does not conflict with
Section 402 of the Sarbanes-Oxley Act of 2002), other securities, other Awards or other property or any combination thereof), as the Committee shall determine, the value of which consideration, as established by the Committee, shall not be less than
100% of the Fair Market Value of such Shares or other securities as of the date such purchase right is granted. 
  
 (h) General. 
  
 (i) Consideration for Awards. Awards may be granted for no cash consideration or for any cash or other consideration as determined
by the Committee and required by applicable law. 
  
 (ii) Awards May Be Granted Separately or Together. Awards may, in the discretion of the Committee, be granted either alone or in addition to, in tandem with or in substitution for any other Award or any award granted under any plan
of the Company or any Affiliate. Awards granted in addition to or in tandem with other Awards or in addition to or in tandem with awards granted under any such other plan of the Company or any Affiliate may be granted either at the same time as or
at a different time from the grant of such other Awards or awards. 
  
 (iii) Forms of Payment under Awards. Subject to the terms of the Plan and of any applicable Award Agreement, payments or transfers to be made by the Company or an Affiliate upon the grant, exercise or payment
of an Award may be made in such form or forms as the Committee shall determine (including, without limitation, cash, Shares, promissory notes (provided, however, that the acceptance of such promissory notes does not conflict with
Section 402 of the Sarbanes-Oxley Act of 2002), other securities, other 
  

 10 

 Awards or other property or any combination thereof), and may be made in a single payment or transfer, in
installments or on a deferred basis, in each case in accordance with rules and procedures established by the Committee. Such rules and procedures may include, without limitation, provisions for the payment or crediting of reasonable interest on
installment or deferred payments or the grant or crediting of Dividend Equivalents with respect to installment or deferred payments. 
  
 (iv) Limits on Transfer of Awards. No Award (other than Other Stock Grants) and no right under any such Award shall be transferable
by a Participant otherwise than by will or by the laws of descent and distribution and the Company shall not be required to recognize any attempted assignment of such rights by any Participant; provided, however, that, if so determined
by the Committee, a Participant may, in the manner established by the Committee, designate a beneficiary or beneficiaries to exercise the rights of the Participant and receive any property distributable with respect to any Award upon the death of
the Participant; provided, further, that, if so determined by the Committee, a Participant may transfer a Non-Qualified Stock Option to any Family Member (as such term is defined in the General Instructions to Form S-8 (or successor to
such Instructions or such Form)) at any time that such Participant holds such Option, provided that the Participant may not receive any consideration for such transfer, the Family Member may not make any subsequent transfers other than by
will or by the laws of descent and distribution and the Company receives written notice of such transfer, provided, further, that, if so determined by the Committee and except in the case of an Incentive Stock Option, Awards may be
transferable as determined by the Committee. Except as otherwise determined by the Committee, each Award or right under any such Award shall be exercisable during the Participant’s lifetime only by the Participant or, if permissible under
applicable law, by the Participant’s guardian or legal representative. Except as otherwise determined by the Committee, no Award or right under any such Award may be pledged, alienated, attached or otherwise encumbered, and any purported
pledge, alienation, attachment or other encumbrance thereof shall be void and unenforceable against the Company or any Affiliate. Notwithstanding anything herein to the contrary, an Incentive Stock Option shall be exercisable during the
Participant’s lifetime only by the Participant, and may not be pledged, alienated, attached or otherwise encumbered, and any purported pledge, alienation, attachment or other encumbrance thereof shall be void and unenforceable against the
Company or any Affiliate. 
  
 (v) Term of
Awards. Subject to Section 6(a)(iv)(C), the term of each Award shall be for such period as may be determined by the Committee. 
  
 (vi) Restrictions; Securities Exchange Listing. All Shares or other securities delivered under the Plan pursuant to any Award or
the exercise thereof shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the Plan, applicable federal or state securities laws and regulatory requirements, and the Committee may direct
appropriate stop transfer orders and cause other legends to be placed on the certificates for such Shares or other securities to reflect such restrictions. If the Shares or other securities are traded on a securities exchange, the Company shall not
be required to deliver any Shares or other securities covered by an Award unless and until such Shares or other securities have been and continue to be admitted for trading on such securities exchange. 
  

 11 

 (vii) Prohibition on Repricing. Except as provided in Section 4(c) of the Plan, no
Option or Stock Appreciation Right may be amended to reduce its initial exercise price and no Option or Stock Appreciation Right shall be canceled and replaced with Options or Stock Appreciation Rights having a lower exercise price or grant price,
without the approval of the stockholders of the Company. 
  
 Section 7.
Amendment and Termination; Adjustments 
  
 (a) Amendments
to the Plan. The Board may amend, alter, suspend, discontinue or terminate the Plan at any time; provided, however, that, notwithstanding any other provision of the Plan or any Award Agreement, without the approval of the
stockholders of the Company, no such amendment, alteration, suspension, discontinuation or termination shall be made that, absent such approval: 
  
 (i) violates the rules or regulations of the New York Stock Exchange or any other securities exchange that are applicable to the Company;

  
 (ii) increases the number of shares
authorized under the Plan as specified in Section 4(a); 
  
 (iii) increases the number of shares subject to the limitations contained in Section 4(d) of the Plan; 
  
 (iv) permits the award of Options or Stock Appreciation Rights at a price less than 100% of the Fair Market Value of a Share on the date
of grant of such Option or Stock Appreciation Right, as prohibited by Sections 6(a)(i) and 6(b)(ii) of the Plan or the repricing of Options or Stock Appreciation Rights, as prohibited by Section 6(g)(vii) of the Plan; or 
  
 (v) expands the classes or categories of persons eligible to
receive Awards under the Plan. 
  
 (b) Amendments to
Awards. The Committee may waive any conditions of or rights of the Company under any outstanding Award, prospectively or retroactively. Except as otherwise provided herein or in an Award Agreement, the Committee may not amend, alter, suspend,
discontinue or terminate any outstanding Award, prospectively or retroactively, if such action would adversely affect the rights of the holder of such Award, without the consent of the Participant or holder or beneficiary thereof. Notwithstanding
the foregoing, the Committee shall not waive any conditions or rights of the Company, or otherwise amend or alter any outstanding Award that is intended to constitute “qualified performance based compensation” within the meaning of Section
162(m) in such a manner as to cause such Award not to so constitute “qualified performance based compensation.” 
  

 12 

 (c) Correction of Defects, Omissions and Inconsistencies. The Committee may correct any defect,
supply any omission or reconcile any inconsistency in the Plan or any Award in the manner and to the extent it shall deem desirable to carry the Plan into effect. 
  
 Section 8. Income Tax Withholding 
  
 In order to comply with all applicable federal, state or local income tax laws or regulations, the Company may take such action as it deems appropriate to
ensure that all applicable federal, state or local payroll, withholding, income or other taxes, which are the sole and absolute responsibility of a Participant, are withheld or collected from such Participant. In order to assist a Participant in
paying all or a portion of the federal, state and local taxes to be withheld or collected upon exercise or receipt of (or the lapse of restrictions relating to) an Award, the Committee, in its discretion and subject to such additional terms and
conditions as it may adopt, may permit the Participant to satisfy such tax obligation by (i) electing to have the Company withhold a portion of the Shares otherwise to be delivered upon exercise or receipt of (or the lapse of restrictions relating
to) such Award with a Fair Market Value equal to the amount of such taxes or (ii) delivering to the Company Shares other than Shares issuable upon exercise or receipt of (or the lapse of restrictions relating to) such Award with a Fair Market Value
equal to the amount of such taxes. The election, if any, must be made on or before the date that the amount of tax to be withheld is determined. 
  
 Section 9. General Provisions 
  
 (a) No Rights to Awards. No Eligible Person or other Person shall have any claim to be granted any Award under the Plan, and there is no obligation
for uniformity of treatment of Eligible Persons or holders or beneficiaries of Awards under the Plan. The terms and conditions of Awards need not be the same with respect to any Participant or with respect to different Participants. 
  
 (b) Award Agreements. No Participant will have rights under an Award
granted to such Participant unless and until an Award Agreement shall have been duly executed on behalf of the Company and, if requested by the Company, signed by the Participant. 
  
 (c) Plan Provisions Control. In the event that any provision of an Award Agreement conflicts with or is inconsistent
in any respect with the terms of the Plan as set forth herein or subsequently amended, the terms of the Plan shall control. 
  
 (d) No Rights of Stockholders. Except with respect to Shares of Restricted Stock as to which the Participant has been granted the right to vote,
neither a Participant nor the Participant’s legal representative shall be, or have any of the rights and privileges of, a stockholder of the Company with respect to any Shares issuable to such Participant upon the exercise or payment of any
Award, in whole or in part, unless and until such Shares have been issued in the name of such Participant or such Participant’s legal representative without restrictions thereto. 
  
 (e) No Limit on Other Compensation Arrangements. Nothing contained in the Plan shall prevent the Company or any
Affiliate from adopting or continuing in effect other or additional compensation arrangements, and such arrangements may be either generally applicable or applicable only in specific cases. 
  

 13 

 (f) No Right to Employment. The grant of an Award shall not be construed as giving a Participant
the right to be retained in the employ, or as giving a Director of the Company or an Affiliate the right to continue as a director or an Affiliate of the Company or any 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 a Participant from employment, or terminate the term of a Director of the Company or an Affiliate, free from
any liability or any claim under the Plan or any Award, unless otherwise expressly provided in the Plan or in any Award Agreement. Nothing in this Plan 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 Awards granted hereunder shall not form any part of the wages or salary of any Eligible Person 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 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, each Participant shall be deemed to have accepted all the conditions of the Plan and the terms and conditions of any rules and regulations adopted by the Committee and shall be fully bound thereby. 
  
 (g) Governing Law. The validity, construction and effect of the Plan
or any Award, and any rules and regulations relating to the Plan or any Award, shall be determined in accordance with the internal laws, and not the law of conflicts, of the State of Delaware. Unless otherwise provided in the Award Agreement,
recipients of an Award under the Plan are deemed to submit 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 any related Award
Agreement. 
  
 (h) Severability. If any provision of the
Plan or any Award is or becomes or is deemed to be invalid, illegal or unenforceable in any jurisdiction or would disqualify the Plan or any Award 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 Award, such provision shall be stricken as to such
jurisdiction or Award, and the remainder of the Plan or any such Award shall remain in full force and effect. 
  
 (i) No Trust or Fund Created. Participants shall have no right, title, or interest whatsoever in or to any investments that the Company and/or its
Affiliates may make to aid it in meeting its obligations under the Plan. Neither the Plan nor any Award 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
an Eligible Person or any other Person. To the extent that any Person acquires a right to receive payments from the Company or any Affiliate pursuant to an Award, such right shall be no greater than the right of any unsecured general creditor of the

  

 14 

 Company or any Affiliate. All payments to be made hereunder shall be paid from the general funds of the Company or an
Affiliate, as the case may be and no special or separate fund shall be established and no segregation of assets shall be made to assure payment of such amounts except as expressly set forth in the Plan. 
  
 (j) Other Benefits. No compensation or benefit awarded to or realized
by any Participant under the Plan shall be included for the purpose of computing such Participant’s compensation under any compensation-based retirement, disability, or similar plan of the Company unless required by law or otherwise provided by
such other plan. 
  
 (k) No Fractional Shares. No
fractional Shares shall be issued or delivered pursuant to the Plan or any Award, and the Committee shall determine whether cash shall be paid in lieu of any fractional Shares or whether such fractional Shares or any rights thereto shall be
canceled, terminated or otherwise eliminated. 
  
 (l)
Headings. Headings are given to the Sections and subsections of the Plan 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 Plan or
any provision thereof. 
  
 (m) Section 16 Compliance; Section
162(m) Administration. The Plan is intended to comply in all respects with Rule 16b-3 or any successor provision, as in effect from time to time, and in all events the Plan shall be construed in accordance with the requirements of Rule 16b-3. If
any Plan provision does not comply with Rule 16b-3 as hereafter amended or interpreted, the provision shall be deemed inoperative. The Board of Directors, in its absolute discretion, may bifurcate the Plan so as to restrict, limit or condition the
use of any provision of the Plan with respect to persons who are officers or directors subject to Section 16 of the Exchange Act without so restricting, limiting or conditioning the Plan with respect to other Eligible Persons. With respect to
Options and Stock Appreciation Rights, the Company intends to have the Plan administered in accordance with the requirements for the award of “qualified performance-based compensation” within the meaning of Section 162(m) of the Code.

  
 (n) Conditions Precedent to Issuance of Shares. Shares
shall not be issued pursuant to the exercise or payment of the purchase price relating to an Award unless such exercise or payment and the issuance and delivery of such Shares pursuant thereto shall comply with all relevant provisions of law,
including, without limitation, the Securities Act, the Exchange Act, 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 or
payment of the purchase price relating to such Award, the Company may require that the person exercising or paying the purchase price represent and warrant that the Shares are 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. 
  
 (o) Forfeiture for Financial Reporting Misconduct. If the Company is required to prepare an accounting restatement due to the material
noncompliance of the Company, as a result of misconduct, with any financial reporting requirement under the securities laws, if the Participant knowingly or grossly negligently engaged in the misconduct, or knowingly or grossly negligently failed to
prevent the misconduct, or if the Participant is one of the individuals subject 
  

 15 

 to automatic forfeiture under Section 304 of the Sarbanes-Oxley Act of 2002, the Participant shall reimburse the Company
the amount of any payment in settlement of an Award earned or accrued during the twelve- (12-) month period following the first public issuance or filing with the Securities and Exchange Commission (whichever just occurred) of the financial document
embodying such financial reporting requirement. 
  
 (p)
Employees Based Outside of the United States. Notwithstanding any provision of the Plan to the contrary, in order to comply with the laws in other countries in which the Company or its Affiliates operate or have Eligible Persons, the
Committee, in its sole discretion, shall have the power and authority to: 
  
 (i) Determine which Affiliates shall be covered by the Plan; 
  
 (ii) Determine which Eligible Persons outside the United States are eligible to participate in the Plan; 
  
 (iii) Modify the terms and conditions of any Award granted
to Eligible Persons outside the United States to comply with applicable foreign laws; 
  
 (iv) Establish subplans and modify exercise procedures and other terms and procedures, to the extent such actions may be necessary or
advisable. Any subplans and modifications to Plan terms and procedures established under this Section 9(p) by the Committee shall be attached to this Plan document as appendices; and 
  
 (v) Take any action, before or after an Award is made, that it deems advisable to obtain approval or comply
with any necessary local government regulatory exemptions or approvals. 
  
 Notwithstanding the above, the Committee may not take any actions hereunder, and no Awards shall be granted, that would violate applicable law. 
  
 Section 10. Effective Date of the Plan 
  
 The Plan shall be effective upon its adoption by the Board (the “Effective Date”), provided, however, that in the event the Plan
is not approved by the stockholders of the Company within one year thereafter, the Plan will be terminated and all Awards granted under the Plan will be terminated and deemed null and void, and provided, further, that no Award may vest and no
Shares (including Shares of Restricted Stock) may be issued under the Plan prior to approval of the Plan by the stockholders of the Company. 
  
 Section 11. Term of the Plan 
  
 Unless sooner terminated or discontinued pursuant to Section 7(a) of the Plan, the Plan shall terminate ten years from the Effective Date. No Award shall
be granted under the Plan after the Plan is terminated. However, unless otherwise expressly provided in the Plan or in an applicable Award Agreement, any Award theretofore granted may extend beyond such date, and the authority of the Committee
provided for hereunder with respect to the Plan and any Awards, and the authority of the Board to amend the Plan, shall extend beyond the termination of the Plan. 
  
 Adopted by the Board of Directors and Stockholders on October 20, 2004. 
  

 16

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