Tyson Foods 2014 Annual Report Download - page 138
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Please find page 138 of the 2014 Tyson Foods annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
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would otherwise have been paid if under the terms of the award it was subject to
performance criteria and will only be paid if any applicable performance criteria are met;
(c)
Release . For purposes of this Agreement, “Release”
means that specific document which Tyson
shall present to you for consideration and execution after your termination of employment, under which you agree to
irrevocably and unconditionally release and forever discharge Tyson, its subsidiaries, affiliates and related parties from
any and all causes of action which
7
EA102412-9999
(iv)
Subject to your execution of the Release (as defined below), you will become fully vested
in any of your unvested stock options that are outstanding on the Termination Date; and
(v)
Subject to your execution of the Release (as defined below), you will become entitled to a
pro rata portion of any performance share awards that are outstanding on the Termination
Date provided the applicable performance criteria is met. The pro rata portion of your
award shall equal the percentage of the total performance period, measured in days, in
which you remained employed by Tyson multiplied by the percentage of the award that
you would have received had you remained employed for the entire performance period.
Any award subject to this subsection (v) shall not be paid until such time as it would have
otherwise been paid under the terms of the award and will only be paid if the
performance criteria are met.
(vi)
Subject to your execution of the Release (as defined below), an amount equal to, and on
terms equal to, the severance payments and severance benefits provided to other
employees within your Band, as determined under the Tyson Foods Severance Pay Plan
for Contracted Employees. In the event of a Change of Control (defined below) the
amount you would be entitled to in the event of termination subject to this Section 4(b)
will be based on the Tyson Foods Severance Pay Plan for Contracted Employees in place
at the time immediately prior to the Change of Control.