Tyson Foods 2015 Annual Report Download - page 125
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Please find page 125 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
tax, but only if and to the extent that such reduction would result in you retaining larger aggregate after-tax payments. The
determinationoftheexcisetaxandtheaggregateafter-taxpaymentstobereceivedbyyouwillbemadebyTyson.Ifpaymentsare
tobereduced, the payments made latest intimewillbereducedfirstand if payments aretobemadeat the sametime,non-cash
paymentswillbereducedbeforecashpayments.
(c)SeparationfromService.Intheeventthattheterminationofyouremploymentdoesnotconstitutea“separation
fromservice”asdefinedinCodeSection409A,includingallregulationsandotherguidanceissuedpursuantthereto,yourrightsto
thepaymentsandbenefitsdescribedinSection4willvestupontheTerminationDate,butnopaymenttoyouthatissubjecttoCode
Section409Awillbepaiduntilyouincuraseparationfromservice(oruntilsix(6)monthsaftersuchdateifyouarea“specified
employee”pursuanttosubsection(d)ofthisSection),andanyamountsthatwouldotherwisehavebeenpaidbeforesuchdatewillbe
paidinsteadassoonaspracticableaftersuchdate.
(d) Six-Month Delay in Payment . Notwithstanding anything to the contrary in this Agreement, if you are a
“specifiedemployee”asdefinedandappliedinCodeSection409AasofyourTerminationDate,then,totheextentanypayment
under this Agreement or any Tyson plan or policy constitutes deferred compensation (after taking into account any applicable
exemptionsfromCodeSection409A,includingthosespecifiedinsubsection(f)ofthisSection)andtotheextentrequiredbyCode
Section409A,nopaymentsdueunderthisAgreementoranyTysonplanorpolicymaybemadeuntiltheearlierof:(i)thefirst(1st)
dayfollowingthesixth(6)month anniversary of your Termination Date and (ii) your dateofdeath;provided,however,thatany
paymentsdelayedduringthesix(6th)monthperiodwillbepaidintheaggregateassoonasreasonablypracticablefollowingthesix
(6)monthanniversaryofyourTerminationDate.
(e)ExpenseReimbursement.InnoeventwillanexpensebereimbursedafterDecember31ofthecalendaryear
followingthecalendaryearinwhichtheexpensewasincurred.Youarenotpermittedtoreceiveapaymentorotherbenefitinlieuof
reimbursementunderSection2(e).
(f)ApplicationofExemptions.ForpurposesofCodeSection409A,each“payment”(asdefinedbyCodeSection
409A)madeunderthisAgreementwillbeconsidereda“separatepayment.”Inaddition,forpurposesofCodeSection409A,each
suchpaymentwillbe
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