EXHIBIT 10.12
AMENDMENT NO. 1 OF AGREEMENT
This Amendment No. 1 of Agreement ("Amendment No. 1") is effective as of
July 1, 1992, between OFFICE CHERIFIEN DES PHOSPHATES ("OCP") and MISSISSIPPI
PHOSPHATES CORPORATION ("MPC").
WHEREAS, MPC and OCP are parties to that certain Agreement with an
Effective Date of September 15, 1991, for the sale and purchase of all of MPC's
requirements of phosphate rock at its Pascagoula Plant ("Agreement"); and
WHEREAS, OCP and MPC desire to amend the Agreement as hereinafter set
forth;
NOW, THEREFORE, MPC and OCP hereby agree as follows:
1. Article IV of the Agreement is hereby amended by changing the second
sentence of the definition of "Sales, General and Administrative Expense" as set
forth on page 5 to read in its entirety as follows:
Subject to the adjustments hereafter described, expenses shall include an
annual payment of (confidential treatment has been requested) to MCC for
certain services to be provided by MCC to MPC.
and by inserting the following immediately thereafter:
The annual payment by MPC to MCC for services shall be reduced by
(confidential treatment has been requested) with respect to the Contract
Year commencing on July 1, 1992. Threafter, with respect to subsequent
Contract Year(s), the annual payment(s) may be increased by amounts not
exceeding (confidential treatment has been requested) in the aggregate.
Payment of any such increases in the annual payment(s) to MCC for services
and payments of the `Deferred Portion'' (as defined in Addendum No. 1 to
Sale Contract Addendum No. 2) shall be made in the same amounts and at the
same time.
2. Except as specifically set forth in this Amendment, all of the terms and
conditions of the Agreement shall continue in full force and effect.
3. All capitalized terms used in this Amendment and not otherwise defined
herein shall have the meanings set forth in the Agreement.
IN WITNESS WHEREOF, MPC and OCP have caused this Amendment to be duly
executed as of the 12 day of April, 1993.
MISSISSIPPI PHOSPHATES CORPORATION OFFICE CHERIFIEN DES PHOSPHATES
By: /s/ X. X. XxXxxx By: /s/ Xxxxxxx Xxxxxx
Vice President of Operations General Manager
