SEC Contract Filing

Filing Date: 2016-02-25

Document Content:
<DOCUMENT>
<TYPE>EX-10.6
<SEQUENCE>3
<FILENAME>tnh-12312015xex106.htm
<DESCRIPTION>EXHIBIT 10.6
<TEXT>
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<a name="s798615e9f4c345fe81daee415b63b284"></a><div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Exhibit 10.6</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-top:16px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Terra Nitrogen GP Inc.</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Non-Employee Director Phantom Unit and Deferred Compensation Plan</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">(Amended and Restated October 27, 2015)</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">1.</font><font style="font-family:inherit;font-size:11pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Purpose of this Plan. </font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The purpose of this Terra Nitrogen GP Inc. (&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">TNGP</font><font style="font-family:inherit;font-size:11pt;">&#8221;) Non-Employee Director Phantom Unit and Deferred Compensation Plan (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Plan</font><font style="font-family:inherit;font-size:11pt;">&#8221;) is to attract and retain qualified Non-Employee Directors to serve on the Board, to align the interests of the Non-Employee Directors with those of the common unit holders of Terra Nitrogen Company, L.P. (&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">TNCLP</font><font style="font-family:inherit;font-size:11pt;">&#8221;), and to provide Non-Employee Directors with an opportunity to satisfy the TNGP unit ownership guidelines by deferring the receipt of certain compensation earned as a director. This Plan shall be unfunded for tax purposes and for purposes of Title I of ERISA. The Plan is intended to comply with all applicable laws, including Section 409A of the Code, and related Treasury guidance and regulations, and shall be operated and interpreted in accordance with this intention. This Plan was previously amended and restated as of April 28, 2015. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">2.</font><font style="font-family:inherit;font-size:11pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Definitions. </font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Account</font><font style="font-family:inherit;font-size:11pt;">&#8221; means an unfunded deferred compensation account established for a Participant. </font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Alternative Units</font><font style="font-family:inherit;font-size:11pt;">&#8221; means equity in regulated investment companies (mutual funds) or any other investments other than Common Units.</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Board</font><font style="font-family:inherit;font-size:11pt;">&#8221; means the board of directors of TNGP or any successor thereto. </font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Change in Control</font><font style="font-family:inherit;font-size:11pt;">&#8221; means a change in ownership or effective control of TNCLP or a change in the ownership of a substantial portion of the assets of TNCLP, each as defined in accordance with Section 409A. </font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Closing Price</font><font style="font-family:inherit;font-size:11pt;">&#8221; means, as of any date, (i) the closing sales price per Common Unit or Alternative Unit (A) as reported on the New York Stock Exchange - Composite Transactions