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POTASH
CORPORATION OF SASKATCHEWAN INC.
SUPPLEMENTAL
EXECUTIVE RETIREMENT INCOME PLAN
WHEREAS,
the Potash Corporation of Saskatchewan Inc., a corporation
organized under the laws of Canada (the “Corporation”),
established the Supplemental Executive Retirement Income Plan on
May 9, 1991, which was most recently amended and restated as of
May 1, 2000 and subsequently amended on February 27, 2003
and March 22, 2004 (the “Supplemental
Plan”);
WHEREAS,
the Corporation now desires to amend the Supplemental Plan to
incorporate a new formula for computing Executives’ benefits
under the Supplemental Plan with respect to services performed on
and after July 1, 2009;
NOW,
THEREFORE, the Supplemental Plan is hereby amended, effective as of
July 1, 2009, as follows (the
“Amendment”):
1. Paragraph 6
of the Supplemental Plan is hereby amended in its entirety to read
as follows:
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“6.
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The
annual retirement benefit payable under the Supplemental Plan shall
be calculated as follows:
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a.
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the
sum of i) and ii), where:
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i)
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is
equal to 2% of the executive’s average three highest calendar
years’ earnings
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multiplied
by
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the
executive’
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