Summary of Board of Director Compensation for The Mosaic Company (Effective June 1, 2006)
This document outlines the compensation structure for non-management directors and the Non-Executive Chairman of The Mosaic Company, effective June 1, 2006. Non-management directors receive an annual retainer of $75,000, additional retainers for committee roles, and an annual equity award in restricted stock units. The Non-Executive Chairman receives a higher annual retainer of $150,000 and a larger equity award. The agreement specifies the amounts and types of compensation but does not include other terms or conditions.
Exhibit 10.iii.
SUMMARY OF BOARD OF DIRECTOR COMPENSATION
Board of Director Compensation
The Mosaic Company
Effective June 1, 2006
Non-Management Director Compensation
(Other than Non-Executive Chairman)
| 1. | Annual Retainer — $75,000 |
| 2. | Annual Committee Chair Retainer (Non-Audit) — $7,000 |
| 3. | Annual Audit Committee Retainer |
| a. | Chairperson — $15,000 |
| b. | Other Audit Committee Members — $5,000 |
| 4. | Annual Equity Compensation Award — $65,000 value in restricted stock units |
Non-Executive Chairman of the Board Compensation
| 1. | Annual Retainer — $150,000 |
| 2. | Annual Equity Compensation Award — $130,000 value in restricted stock units |
