Tyson Foods 2015 Annual Report Download - page 149
Download and view the complete annual report
Please find page 149 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 10.19
2.Compensation.
(a)InitialConsideration.Youshallreceive,inadditiontoallregularcompensationforservicesasdescribedinthis
Section2andtheseveranceandbenefitsprovidedunderSection4andSection5,$23,087.00asadditionalconsiderationforsigning
thisAgreementandforagreeingtoabideandbeboundbytheterms,provisionsandrestrictionsofSection6.Youunderstandand
acknowledgethatyouhavebeenproperlyandtimely informedofthetype,amount and terms of suchconsideration and thatyou
wouldnotbeentitledtosuchconsideration,andthatsuchconsiderationwouldnotbepaid,ifyoudidnotexecuteandagreetobe
boundbytheprovisionsofthisAgreement.
(b)BaseSalary.FortheservicestobeperformedhereunderduringthePeriodofEmployment,Tysonshallpay
youatabasesalaryof$350,200.00,whichmaybeadjustedbyTysonfromtimetotimewithintherangepaidtootheremployeesin
yourBand.SuchbasesalaryshallbepaidinaccordancewithTyson’spayrollpractice.
(c)PerformanceIncentiveEligibility.YoumayreceiveperformanceincentiveawardsunderTyson’sannualand
long-termincentiveplansthenineffect(ifany),ontermsandinamountsconsistentwiththoseprovidedtootheremployeesinyour
Band,subjecttothediscretionoftheseniormanagementofTyson.
(d)StockGrants.YoumayreceivestockawardsunderanequityincentivecompensationplanofTysonthenin
effect(ifany),ontermsandinamountsconsistentwiththoseprovidedtootheremployeesinyourBand,subjecttothediscretionof
theseniormanagementofTyson.
(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
employeesinyourBand.YouwillbeentitledtoanannualpaidvacationinaccordancewithTyson’sapplicablevacationpolicy,as
in effect from time to time. Tyson will pay or reimburse you for all reasonable expenses actually incurred or paid by you in the
performanceofyourservicestoTyson,subjecttoandinaccordancewithapplicableexpensereimbursementandrelatedpoliciesand
proceduresasineffectfromtimetotime.
(f)Review.Basesalary,performanceincentivecompensation,stockgrantlevels,andplanparticipationwillbe
subjecttoreviewannually(orfromtimetotimeatTyson’sdiscretion),
3