Tyson Foods 2015 Annual Report Download - page 111
Download and view the complete annual report
Please find page 111 of the 2015 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.Exhibit 10.17
usinganynameconfusinglysimilartothenameofTysonorthenameofanyaffiliateofTysonoranyothernameunderwhichany
suchentitiesdobusiness.
(c)TermofEmployment.Youremploymentshallbeforaperiodofthree(3)years,commencingontheEffective
DateandterminatingonthethirdanniversaryoftheEffectiveDate,unlessyouremploymentterminatespursuanttoSection3(the
“PeriodofEmployment”).
2.Compensation.
(a)CompensationandBenefitsforServices.AsconsiderationandinexchangeforsigningthisAgreementandfor
agreeingtoabideandbebound bytheterms,provisions andrestrictionsofSection 6,youshallreceive regularcompensationfor
services as described in Section 2 and the severance and benefits provided under Section 4 and Section 5. You understand and
acknowledgethatyouhavebeenproperlyandtimely informedofthetype,amount and terms of suchconsideration and thatyou
wouldnotbeentitledtosuchconsideration,andthatsuchconsiderationwouldnotbepaid,ifyoudidnotexecuteandagreetobe
boundbytheprovisionsofthisAgreement.
(b)BaseSalary.FortheservicestobeperformedhereunderduringthePeriodofEmployment,Tysonshallpay
you at a base salary of $1,175,000.00, which may be adjusted by Tyson from time to time. Such base salary shall be paid in
accordancewithTyson’spayrollpractice.
(c)PerformanceIncentiveEligibility.YoumayreceiveperformanceincentiveawardsunderTyson’sannualand
long-termincentiveplansthenineffect(ifany),ontermsandinamountsconsistentwiththoseasdeterminedbyandsubjecttothe
discretionoftheCompensationandLeadershipDevelopmentCommitteeoftheBoard(the“CLDC”).
(d)StockGrants.YoumayreceivestockawardsunderanequityincentivecompensationplanofTysonthenin
effect(ifany),ontermsandinamountsasdeterminedbyandsubjecttothediscretionoftheCLDC.
(e)BenefitPlans,VacationandReimbursementPrograms.Youshallbeentitledtoparticipateinanybenefitplans
of Tyson as adopted or amended from time to time on terms and in amounts consistent with those generally applicable to other
executiveofficers.YouwillbeentitledtoanannualpaidvacationinaccordancewithTyson’sapplicablevacationpolicy,asineffect
fromtimetotime.Tysonwillpayorreimburseyouforallreasonableexpensesactuallyincurredorpaid
3