SEC Contract Filing

Filing Date: 2019-03-13

Document Content:
<DOCUMENT>
<TYPE>EX-10.III.K.16
<SEQUENCE>4
<FILENAME>exhibit10iiik16_20181231.htm
<DESCRIPTION>EXHIBIT 10.III.K.16
<TEXT>
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<div><a name="s0D7456828B85DB6478DE5EFF537FC69D"></a></div><div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">THE MOSAIC COMPANY</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">TSR PERFORMANCE UNIT AWARD AGREEMENT (201[_] Award)</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(Total Shareholder Return)</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:14px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">This </font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">PERFORMANCE UNIT AWARD AGREEMENT</font><font style="font-family:inherit;font-size:11pt;">&#32;(the &#8220;Award Agreement&#8221;) is made this ____ day of ________, 201[__] (the &#8220;Grant Date&#8221;), from The Mosaic Company, a Delaware corporation (the &#8220;Company&#8221;) to _____ (the &#8220;Participant&#8221;). The &#8220;Performance Period&#8221; shall begin on the Grant Date and end on the date that is three (3) years after the Grant Date.</font></div><div style="line-height:120%;padding-bottom:14px;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">1.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Award</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;padding-bottom:14px;text-align:justify;text-indent:42px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(a)&#160;&#160;&#160;&#160;The Company hereby grants to Participant an award of _____ performance units (&#8220;Performance Units&#8221;), each Performance Unit representing the opportunity (provided the performance conditions described below are met) to receive a multiple of one share of common stock (including a multiple of 1 and less than 1), par value $.01 per share (the &#8220;Common Stock&#8221;), of the Company according to the terms and conditions set forth herein and in The Mosaic Company 2014 Stock and Incentive Plan (the &#8220;Plan&#8221;). The Performance Units are granted under Sections 6(d), (e) and (f) of the Plan</font><font style="font-family:inherit;font-size:11pt;">.</font><font style="font-family:inherit;font-size:11pt;">&#32;&#32;A copy of the Plan will be furnished upon request of Participant.</font></div><div style="line-height:120%;padding-bottom:14px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(b)&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Calculation of Shares (Performance Requirement)</font><font style="font-family:inherit;font-size:11pt;">. Provided Participant&#8217;s Performance Units are not forfeited under Section 2, the number of shares of Common Stock (&#8220;Shares&#8221;) issued to Participant in exchange for Performance Units (or the cash amount to be paid for Performance Units) shall be equal to the number of Performance Units awarded under Section&#160;1, multiplied by the TSR Performance Factor, subject to the following restrictions and limitations.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(i)&#160;&#160;&#160;&#160;No Shares will be issued (and the Performance Units awarded under Section&#160;1 shall be forfeited), if the Ending Value is less than 60% of the Starting Value (i.e., total shareholder return in the chart in Section 1(c) below is below -40%).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(ii)&#160;&#160;&#160;&#160;The maximum number of Shares that may be issued is twice the number of Performance Units awarded under Section 1. In addition to the foregoing, the number of Shares to be issued shall be reduced to the extent necessary so that (a) the value determined by multiplying the Ending Value times the number of Shares actually issued hereunder does not exceed (b) the Starting Value multiplied by 400%, multiplied by the number of Performance Units awarded under Section 1. (For example, if the Starting Value is $50, the Ending Value is $250, and Participant was awarded 100 Performance Units, this provision limits the Shares awarded to Participant to 80 Shares rather than 200 Shares.) Notwithstanding the foregoing, in the event that dividend equivalents (&#8220;Dividend Equivalents&#8221;) are payable under Section 7 hereof, the maximum number of shares that may be issued pursuant to the limitations in the first two sentences of this clause (ii) and the amount of Dividend Equivalents otherwise payable shall both be reduced, in proportion to the relative Ending Value of the number of Performance Units otherwise issuable and the amount of Dividend Equivalents otherwise payable, to the extent necessary so that (A) the sum of (I) the Ending Value of the Shares act