Tyson Foods 2015 Annual Report Download - page 116
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Please find page 116 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
below), an amount equal to, and on terms equal to, your base salary for a period of 36 months after the
TerminationDate.
(c)Release.ForpurposesofthisAgreement,“Release”meansthatspecificdocumentwhichTysonshallpresentto
you for consideration and execution after your termination of employment, under which you agree to irrevocably and
unconditionallyreleaseandforeverdischargeTyson,itssubsidiaries,affiliatesandrelatedpartiesfromanyandallcausesofaction
whichyouatthattimehadormayhavehadagainstTyson(excludinganyclaimforindemnityunderthisAgreement,oranyclaim
under state workers’ compensation or unemployment laws). The Release will be provided to you as soon as practical after your
Termination Date, but in any event in sufficient time so that you will have adequate time to review the Release as provided by
applicablelaw.TheReleasemustbesignedwithin45daysofitspresentationtoyou.TheReleaseshallnotbecomeeffectiveuntil7
daysafteritisexecuted.TysonmaintainsaformofRelease,whichitmaychangefromtimetotimeasitdeemsappropriate.The
latestversionoftheReleaseshallbeavailableforyourreviewuponrequest.SubjecttothepaymentprovisionsoftheTysonFoods
SeverancePayPlanforContractedEmployeesandSection8below,anypaymentssubjecttoaReleaseshallcommenceonthefirst
payrollperiodcommencingonorafterthedatetheReleasebecomeseffective.
5.AccelerationofStockGrantsonChangeinControl.UpontheoccurrenceofaChangeinControl(definedbelow)the
stockawardsthathavebeengrantedtoyoupursuanttoaward agreements from Tyson under Section 2, or which have otherwise
been previously granted to you under an award agreement from Tyson; and which awards remain outstanding at the time of the
ChangeinControl,willbetreatedinaccordancewiththeapplicableawardagreements.ForpurposesofthisAgreement,theterm
“Change in Control” shall have the same meaning as set forth in Tyson’s equity incentive compensation plan then in effect;
provided,however,thataChangeinControlshallnotincludeanyeventasaresultofwhichoneormoreofthefollowingpersonsor
entitiespossessorcontinuestopossess,immediatelyaftersuchevent,overfiftypercent(50%)ofthecombinedvotingpowerofthe
Companyor,ifapplicable,asuccessorentity:(a)TysonLimitedPartnership,oranysuccessorentity;(b)individualsrelatedtothe
lateDonaldJohnTysonbyblood,marriageoradoption,ortheestateofanysuchindividual(includingDonaldJohnTyson’s);or(c)
anyentity(including,butnotlimitedto,apartnership,corporation,trustorlimitedliabilitycompany)inwhichoneormoreofthe
entities,individualsorestatesdescribedinclauses(a)and(b)hereofpossessoverfiftypercent(50%)ofthecombinedvotingpower
orbeneficialinterestsofsuchentity.Notwithstandingthe
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