Summary of Non-Employee Director Compensation Program for The Mosaic Company Board
The Mosaic Company has established a compensation program for its non-employee directors. The Chairman receives an annual cash retainer of $180,000, while other directors receive $90,000. Additional cash retainers are provided to committee chairs. Directors also receive annual grants of restricted stock units, valued at $260,000 for the Chairman and $155,000 for other directors. No meeting fees or perquisites are provided, but directors are reimbursed for travel and business expenses related to meetings.
Exhibit 10(iii)(f)
SUMMARY OF
NON-EMPLOYEE DIRECTOR COMPENSATION PROGRAM
Non-Employee Directors
The policy adopted by the Board of Directors (the “Board”) of The Mosaic Company (“Mosaic”) on July 21, 2011 provides for cash compensation to non-employee directors as follows:
| • | an annual cash retainer of $180,000 to the Chairman of the Board and $90,000 to each other director; |
| • | an annual cash retainer of $20,000 to the Chairman of the Audit Committee; |
| • | an annual cash retainer of $15,000 to the Chairman of the Compensation Committee; and |
| • | an annual cash retainer of $10,000 to each director who serves as Chair of the Corporate Governance and Nominating Committee and Environmental, Health, Safety and Sustainable Development Committee. |
In addition, the policy adopted by the Board provides for an annual grant of restricted stock units providing grants of Mosaic common stock, valued at $260,000 for the Chairman of the Board and $155,000 for each other director.
Mosaic does not pay meeting fees or provide any perquisites to our directors. Mosaic does reimburse directors for travel and business expenses incurred in connection with meeting attendance.
