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Tyson Foods, Inc. – ‘10-K’ for 10/1/11 – ‘EX-10.40’

On:  Monday, 11/21/11, at 7:47am ET   ·   For:  10/1/11   ·   Accession #:  1193125-11-317791   ·   File #:  1-14704

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

11/21/11  Tyson Foods, Inc.                 10-K       10/01/11  140:24M                                    Donnelley … Solutions/FA

Annual Report   —   Form 10-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   1.82M 
 2: EX-10.27    Third Amendment to the Executive Savings Plan       HTML     45K 
 3: EX-10.32    Third Amendment to Supplemental Executive           HTML     44K 
                Retirement and Life Ins Premium Plan                             
 4: EX-10.33    Retirement Savings Plan                             HTML    269K 
 5: EX-10.40    Form of Stock Option Grant Agreement With           HTML     62K 
                Non-Contracted Employees                                         
 6: EX-10.41    Form of Stock Option Grant Agreement With           HTML     64K 
                Contracted Employees Band 1-5                                    
 7: EX-10.42    Form of Stock Option Grant Agreement With Key and   HTML     64K 
                Contracted Employees Band 6-9                                    
 8: EX-10.44    Form of Performance Stock Award Agreement           HTML     60K 
10: EX-14.1     Code of Conduct of the Company                      HTML    131K 
11: EX-21       Subsidiaries of the Company                         HTML     69K 
12: EX-23.1     Consent of Pricewaterhousecoopers, LLP              HTML     40K 
13: EX-23.2     Consent of Ernst & Young, LLP                       HTML     41K 
 9: EX-12.1     Calculation of Ratio of Earnings to Fixed Charges   HTML     57K 
14: EX-31.1     Certification of Chief Executive Officer Pursuant   HTML     44K 
                to Section 302                                                   
15: EX-31.2     Certification of Chief Financial Officer Pursuant   HTML     44K 
                to Section 302                                                   
16: EX-32.1     Certification of Chief Executive Officer Pursuant   HTML     41K 
                to Section 906                                                   
17: EX-32.2     Certification of Chief Financial Officer Pursuant   HTML     41K 
                to Section 906                                                   
96: R1          Document And Entity Information                     HTML     65K 
74: R2          Consolidated Statements Of Income                   HTML    178K 
91: R3          Consolidated Balance Sheets                         HTML    157K 
100: R4          Consolidated Balance Sheets (Parenthetical)         HTML     51K  
128: R5          Consolidated Statements Of Shareholders' Equity     HTML    168K  
78: R6          Consolidated Statements Of Shareholders' Equity     HTML     42K 
                (Parenthetical)                                                  
90: R7          Consolidated Statements Of Cash Flows               HTML    180K 
67: R8          Business And Summary Of Significant Accounting      HTML     79K 
                Policies                                                         
56: R9          Changes In Accounting Principles                    HTML     81K 
130: R10         Acquisitions And Discontinued Operation             HTML     49K  
102: R11         Property, Plant And Equipment                       HTML     55K  
101: R12         Goodwill And Other Intangible Assets                HTML     95K  
109: R13         Other Current Liabilities                           HTML     48K  
110: R14         Debt                                                HTML     78K  
106: R15         Income Taxes                                        HTML    117K  
111: R16         Other Income And Charges                            HTML     44K  
92: R17         Earnings (Loss) Per Share                           HTML     81K 
97: R18         Derivative Financial Instruments                    HTML    162K 
104: R19         Fair Value Measurements                             HTML    158K  
139: R20         Stock-Based Compensation                            HTML     84K  
120: R21         Pensions And Other Postretirement Benefits          HTML    248K  
84: R22         Comprehensive Income (Loss)                         HTML     87K 
103: R23         Segment Reporting                                   HTML    113K  
87: R24         Supplemental Cash Flow Information                  HTML     50K 
45: R25         Transactions With Related Parties                   HTML     48K 
122: R26         Commitments And Contingencies                       HTML     89K  
135: R27         Quarterly Financial Data (Unaudited)                HTML     80K  
61: R28         Condensed Consolidating Financial Statements        HTML    696K 
60: R29         Valuation And Qualifying Accounts                   HTML     62K 
65: R30         Business And Summary Of Significant Accounting      HTML    171K 
                Policies (Policy)                                                
66: R31         Business And Summary Of Significant Accounting      HTML     49K 
                Policies (Tables)                                                
68: R32         Changes In Accounting Principles (Tables)           HTML     73K 
33: R33         Acquisitions And Discontinued Operation (Tables)    HTML     49K 
118: R34         Property, Plant And Equipment (Tables)              HTML     51K  
82: R35         Goodwill And Other Intangible Assets (Tables)       HTML     94K 
85: R36         Other Current Liabilities (Tables)                  HTML     47K 
50: R37         Debt (Tables)                                       HTML     56K 
138: R38         Income Taxes (Tables)                               HTML    115K  
24: R39         Earnings (Loss) Per Share (Tables)                  HTML     76K 
71: R40         Derivative Financial Instruments (Tables)           HTML    147K 
126: R41         Fair Value Measurements (Tables)                    HTML    148K  
47: R42         Stock-Based Compensation (Tables)                   HTML     77K 
59: R43         Pensions And Other Postretirement Benefits          HTML    253K 
                (Tables)                                                         
64: R44         Comprehensive Income (Loss) (Tables)                HTML     83K 
75: R45         Segment Reporting (Tables)                          HTML    101K 
32: R46         Supplemental Cash Flow Information (Tables)         HTML     47K 
55: R47         Commitments And Contingencies (Tables)              HTML     54K 
27: R48         Quarterly Financial Data (Unaudited) (Tables)       HTML     76K 
124: R49         Condensed Consolidating Financial Statements        HTML    694K  
                (Tables)                                                         
46: R50         Valuation And Qualifying Accounts (Tables)          HTML     60K 
119: R51         Business And Summary Of Significant Accounting      HTML    121K  
                Policies (Narrative) (Details)                                   
51: R52         Business And Summary Of Significant Accounting      HTML     49K 
                Policies (Schedule Of Inventories Of Processed                   
                Products, Livestock, And Supplies Valued At Lower                
                Of Cost Or Market) (Details)                                     
72: R53         Changes In Accounting Principles (Narrative)        HTML     55K 
                (Details)                                                        
26: R54         Changes In Accounting Principles (Schedule Of       HTML    153K 
                Retrospective Application Of New Accounting                      
                Guidance) (Details)                                              
29: R55         Acquisitions And Discontinued Operation             HTML     90K 
                (Narrative) (Details)                                            
63: R56         Acquisitions And Discontinued Operation (Summary    HTML     64K 
                Of Lakeside's Operating Results Prior To Its                     
                Disposition) (Details)                                           
37: R57         Property, Plant And Equipment (Details)             HTML     67K 
131: R58         Goodwill And Other Intangible Assets (Narrative)    HTML     64K  
                (Details)                                                        
80: R59         Goodwill And Other Intangible Assets (Goodwill      HTML     72K 
                Activity) (Details)                                              
107: R60         Goodwill And Other Intangible Assets (Other         HTML     51K  
                Intangible Assets By Type) (Details)                             
54: R61         Other Current Liabilities (Schedule Of Other        HTML     54K 
                Current Liabilities) (Details)                                   
57: R62         Debt (Narrative) (Details)                          HTML    167K 
116: R63         Debt (Major Components Of Debt) (Details)           HTML     77K  
112: R64         Income Taxes (Narrative) (Details)                  HTML     91K  
83: R65         Income Taxes (Provision For Income Taxes From       HTML     66K 
                Continuing Operations) (Details)                                 
114: R66         Income Taxes (Reasons For Differences Between       HTML     72K  
                Statutory Federal Tax Rate And Effective Income                  
                Tax Rate) (Details)                                              
52: R67         Income Taxes (Tax Effects Of Major Items Recorded   HTML    102K 
                As Deferred Tax Assets And Liabilities) (Details)                
88: R68         Income Taxes (Activity Related To Gross             HTML     59K 
                Unrecognized Tax Benefits) (Details)                             
134: R69         Other Income And Charges (Details)                  HTML     66K  
28: R70         Earnings (Loss) Per Share (Narrative) (Details)     HTML     52K 
44: R71         Earnings (Loss) Per Share (Schedule Of Earnings     HTML    113K 
                Per Share, Basic And Diluted) (Details)                          
73: R72         Derivative Financial Instruments (Narrative)        HTML     52K 
                (Details)                                                        
35: R73         Derivative Financial Instruments (Aggregate         HTML     49K 
                Outstanding Notionals Related To Cash Flow Hedges)               
                (Details)                                                        
137: R74         Derivative Financial Instruments (Pretax Impact Of  HTML     53K  
                Cash Flow Hedge Derivative Instruments On The                    
                Consolidated Statements Of Income) (Details)                     
48: R75         Derivative Financial Instruments (Aggregate         HTML     45K 
                Outstanding Notionals Related To Fair Value                      
                Hedges) (Details)                                                
39: R76         Derivative Financial Instruments (Gains Or Losses   HTML     48K 
                On The Hedging Items) (Details)                                  
43: R77         Derivative Financial Instruments (Pretax Impact Of  HTML     50K 
                Derivative Instruments On The Consolidated                       
                Statements Of Income) (Details)                                  
30: R78         Derivative Financial Instruments (Aggregate         HTML     52K 
                Outstanding Notionals Related To Undesignated                    
                Positions) (Details)                                             
34: R79         Derivative Financial Instruments (Pretax Impact Of  HTML     49K 
                Undesignated Derivatives) (Details)                              
98: R80         Derivative Financial Instruments (Fair Value Of     HTML     55K 
                All Derivative Instruments) (Details)                            
41: R81         Fair Value Measurements (Narrative) (Details)       HTML     73K 
132: R82         Fair Value Measurements (Schedule Of Assets And     HTML     95K  
                Liabilities Measured At Fair Value On A Recurring                
                Basis) (Details)                                                 
69: R83         Fair Value Measurements (Schedule Of Debt           HTML     57K 
                Securities Measured At Fair Value On A Recurring                 
                Basis, Unobservable Input Reconciliation)                        
                (Details)                                                        
105: R84         Fair Value Measurements (Schedule Of Available For  HTML     62K  
                Sale Securities) (Details)                                       
113: R85         Fair Value Measurements (Schedule Of Fair Value     HTML     46K  
                And Carrying Value Of Debt) (Details)                            
40: R86         Stock-Based Compensation (Narrative) (Details)      HTML     93K 
42: R87         Stock-Based Compensation (Summary Of Stock          HTML     83K 
                Options) (Details)                                               
129: R88         Stock-Based Compensation (Assumption Of Fair Value  HTML     54K  
                Calculation Of Each Year's Grants) (Details)                     
36: R89         Stock-Based Compensation (Restricted Stock Table)   HTML     76K 
                (Details)                                                        
99: R90         Pensions And Other Postretirement Benefits          HTML     79K 
                (Narrative) (Details)                                            
95: R91         Pensions And Other Postretirement Benefits          HTML     99K 
                (Reconciliation Of Changes In Plans' Benefit                     
                Obligations, Assets And Funded Status) (Details)                 
117: R92         Pensions And Other Postretirement Benefits          HTML     58K  
                (Amounts Recognized In The Consolidated Balance                  
                Sheets) (Details)                                                
94: R93         Pensions And Other Postretirement Benefits (Plans   HTML     54K 
                With Accumulated Benefit Obligations In Excess Of                
                Plan Assets) (Details)                                           
79: R94         Pensions And Other Postretirement Benefits          HTML     69K 
                (Components Of Net Periodic Benefit Cost For                     
                Pension And Postretirement Benefit Plans                         
                Recognized In The Consolidated Statements Of                     
                Income) (Details)                                                
123: R95         Pensions And Other Postretirement Benefits          HTML     59K  
                (Weighted Average Assumptions) (Details)                         
76: R96         Pensions And Other Postretirement Benefits (Actual  HTML     74K 
                And Target Asset Allocation For Pension Plan                     
                Assets) (Details)                                                
49: R97         Pensions And Other Postretirement Benefits          HTML     86K 
                (Categories Of Pension Plan Assets And Level Under               
                Which Fair Values Were Determined In Fair Value                  
                Hierarchy) (Details)                                             
86: R98         Pensions And Other Postretirement Benefits          HTML     64K 
                (Reconciliation Of Change In Fair Value                          
                Measurement Of Defined Benefit Plans' Consolidated               
                Assets Using Significant Unobservable Inputs)                    
                (Details)                                                        
81: R99         Pensions And Other Postretirement Benefits          HTML     62K 
                (Estimated Future Benefit Payments Expected To Be                
                Paid) (Details)                                                  
62: R100        Comprehensive Income (Loss) (Components Of          HTML     66K 
                Accumulated Other Comprehensive Income (Loss))                   
                (Details)                                                        
140: R101        Comprehensive Income (Loss) (Components Of Other    HTML    153K  
                Comprehensive Income (Loss)) (Details)                           
115: R102        Segment Reporting (Narrative) (Details)             HTML     71K  
93: R103        Segment Reporting (Segment Reporting Information,   HTML     83K 
                By Segment) (Details)                                            
31: R104        Supplemental Cash Flow Information (Cash Payments   HTML     47K 
                For Interest And Income Taxes) (Details)                         
125: R105        Transactions With Related Parties (Details)         HTML     42K  
133: R106        Commitments And Contingencies (Narrative)           HTML    101K  
                (Details)                                                        
127: R107        Commitments And Contingencies (Minimum Lease        HTML     68K  
                Commitments Under Non-Cancelable Leases) (Details)               
89: R108        Commitments And Contingencies (Future Purchase      HTML     59K 
                Commitments) (Details)                                           
38: R109        Quarterly Financial Data (Unaudited) (Narrative)    HTML     63K 
                (Details)                                                        
108: R110        Quarterly Financial Data (Unaudited) (Schedule Of   HTML     77K  
                Quarterly Financial Information) (Details)                       
53: R111        Condensed Consolidating Financial Statements        HTML    200K 
                (Condensed Consolidating Statement Of Income)                    
                (Details)                                                        
25: R112        Condensed Consolidating Financial Statements        HTML    194K 
                (Condensed Consolidating Balance Sheet) (Details)                
77: R113        Condensed Consolidating Financial Statements        HTML    181K 
                (Condensed Consolidating Statement Of Cash Flows)                
                (Details)                                                        
70: R114        Valuation And Qualifying Accounts (Schedule Of      HTML     54K 
                Valuation And Qualifying Accounts) (Details)                     
136: XML         IDEA XML File -- Filing Summary                      XML    216K  
58: EXCEL       IDEA Workbook of Financial Reports (.xls)            XLS   4.47M 
18: EX-101.INS  XBRL Instance -- tsn-20111001                        XML   6.31M 
20: EX-101.CAL  XBRL Calculations -- tsn-20111001_cal                XML    305K 
21: EX-101.DEF  XBRL Definitions -- tsn-20111001_def                 XML   1.21M 
22: EX-101.LAB  XBRL Labels -- tsn-20111001_lab                      XML   2.16M 
23: EX-101.PRE  XBRL Presentations -- tsn-20111001_pre               XML   1.81M 
19: EX-101.SCH  XBRL Schema -- tsn-20111001                          XSD    324K 
121: ZIP         XBRL Zipped Folder -- 0001193125-11-317791-xbrl      Zip    344K  


‘EX-10.40’   —   Form of Stock Option Grant Agreement With Non-Contracted Employees


This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]



  Form of Stock Option Grant Agreement with non-contracted employees  

EXHIBIT 10.40

NONQUALIFIED STOCK OPTION AWARD

PURSUANT TO THE TYSON FOODS, INC. 2000 STOCK INCENTIVE PLAN

THIS AWARD (the “Award”) is made as of the Grant Date by Tyson Foods, Inc., a Delaware corporation (the “Company”), to the Team Member (the “Optionee”) listed below, Personnel No. «Persno». Upon and subject to the Terms and Conditions applicable hereto and incorporated herein by reference, the Company hereby awards as of the Grant Date to Optionee a nonqualified stock option (the “Option”), as described below, to purchase the Option Shares.

                    «First_name___________» «MI» «Last_name____________»

                     «Street_and_house_number_______»

                     «M_2nd_address_line_________»

                     «City________________», «Rg» «Postal_code»

 

A. Grant Date: __________________.

 

B. Type of Option: Nonqualified Stock Option.

 

C. Plan under which granted: Tyson Foods, Inc. 2000 Stock Incentive Plan (“Plan”).

 

D. Option Shares: All or any part of «Txt_Options» shares of the Company’s $.10 par value Class A common stock (the “Common Stock”), subject to adjustment as provided in the Terms and Conditions.

 

E. Exercise Price: $______ per share, subject to adjustment as provided in the Terms and Conditions.

 

F. Option Period: The Option may be exercised only during the Option Period which commences on the Grant Date and ends, subject to earlier termination as provided in the Terms and Conditions, on the earliest of the following (a) the tenth (10th) anniversary of the Grant Date; (b) three months following the date the Optionee ceases to be an employee of the Company (including any Affiliate) for any reason other than death, Disability or, termination of employment without cause after attaining at least age 62; or (c) one (1) year following the date the Optionee ceases to be an employee of the Company (including any Affiliate) due to death, Disability or, termination of employment without cause after attaining at least age 62; provided, however, that the Option may only be exercised as to the vested Option Shares determined pursuant to the Vesting Schedule below. Note that other restrictions to exercising the Option, as described in the Terms and Conditions, may apply.

 

G. Vesting Schedule: The Option Shares shall become vested Option Shares in the increasing percentages indicated below but only if the Optionee remains continuously employed by the Company or any Affiliate through the date indicated beside the applicable percentage:

 

Percentage of Option Shares

Which are Vested Shares

  

Dates Upon Which

Shares Become Vested Shares

Zero (0)

One-third (1/3)

One-third (1/3)

One-third (1/3)

  

Prior to First Anniversary of Grant Date

First Anniversary of Grant Date

Second Anniversary of Grant Date

Third Anniversary of Grant Date

Notwithstanding the foregoing, all unvested Option Shares shall become vested Option Shares immediately upon the Optionee’s death, Disability or termination of employment without cause after attaining at least age 62. Upon a Change in Control (defined in Section 5(b) of the Terms and Conditions), all unvested Option Shares granted under this Award, or any prior award of Option Shares from the Company to the Optionee, shall become vested Option Shares sixty (60) days after the Change in Control.

IN WITNESS WHEREOF, the Company has executed and sealed this Award as of the Grant Date set forth above.

TYSON FOODS, INC.:     __________________________     Donnie Smith, President and CEO


TERMS AND CONDITIONS TO THE

NONQUALIFIED STOCK OPTION AWARD

PURSUANT TO THE

TYSON FOODS, INC. 2000 STOCK INCENTIVE PLAN

1. Exercise of Option. Subject to the provisions of the Plan and the Award, which is made pursuant to the Plan, and subject also to these Terms and Conditions, which are incorporated in and made a part of the attached Award:

(a) The Option may be exercised with respect to all or any portion of the vested Option Shares at any time during the Option Period by the delivery to the Company, at its principal place of business, of (i) a notice of exercise in substantially the form required by the Committee (as defined in the Plan) (a form of which is available from the Company), which shall be actually delivered to the Company before the Optionee desires to exercise all or any portion of the Option; (ii) payment to the Company of the Exercise Price multiplied by the number of shares being purchased (the “Purchase Price”) in the manner provided in Subsection (b), and (iii) satisfaction of the tax withholding obligation described in Section 2 below.

(b) The Purchase Price shall be paid in full upon the exercise of an Option and no Option Shares shall be issued or delivered until full payment therefor has been made. Payment of the Purchase Price for all Option Shares purchased pursuant to the exercise of an Option shall be made in cash, certified check, or, alternatively, as follows:

(i) by delivery to the Company of a number of shares of Common Stock owned by the Optionee prior to the date of the Option’s exercise, having a Fair Market Value, as determined under the Plan, on the date of exercise either equal to the Purchase Price or in combination with cash to equal the Purchase Price;

(ii) subject to applicable securities laws, by receipt of the Purchase Price in cash from a broker, dealer or other “creditor” as defined by Regulation T issued by the Board of Governors of the Federal Reserve System following delivery by the Optionee to the Committee of instructions in a form acceptable to the Committee regarding delivery to such broker, dealer or other creditor of that number of Option Shares with respect to which the Option is exercised; or

(iii) by any combination of the foregoing.

Upon acceptance of such notice and receipt of payment in full of the Purchase Price and any tax withholding liability, the Company shall cause to be issued a certificate representing the Option Shares purchased.

2. Withholding. The Optionee must satisfy federal, state and local, if any, withholding taxes imposed by reason of the exercise of the Option either by paying to the Company the full amount of the withholding obligation (i) in cash; (ii) by tendering shares of Common Stock by the Optionee prior to the date of exercise having a Fair Market Value equal to the tax withholding obligation; (iii) by electing, irrevocably and in substantially the form required by the Committee (the “Withholding Election”), to have the smallest number of whole shares of Common Stock which, when multiplied by the Fair Market Value of the Common Stock as of the date the Option is exercised, is sufficient to satisfy the minimum required amount of tax withholding obligations; or (iv) by any combination of the above. Optionee may make a Withholding Election only if the following conditions are met:

(a) the Withholding Election is made on or prior to the date on which the amount of tax required to be withheld is determined by executing and delivering to the Company a properly completed Notice of Withholding Election in substantially the form required by the Committee (a form of which is available from the Company); and


(b) any Withholding Election will be irrevocable; however, the Committee may, in its sole discretion, disapprove and give no effect to the Withholding Election.

3. Rights as Shareholder. Until the stock certificates reflecting the Option Shares accruing to the Optionee upon exercise of the Option are issued to the Optionee, the Optionee shall have no rights as a shareholder with respect to such Option Shares. The Company shall make no adjustment for any dividends or distributions or other rights on or with respect to Option Shares for which the record date is prior to the issuance of that stock certificate, except as the Plan or this Award otherwise provides.

4. Restriction on Transfer of Option. Except as otherwise expressly permitted by the Committee in writing, the Option evidenced hereby is nontransferable other than by will or the laws of descent and distribution, and, shall be exercisable during the lifetime of the Optionee only by the Optionee (or in the event of his disability, by his legal representative) and after his death, by the Optionee’s designated beneficiary. If the Optionee fails to name a beneficiary, the Option may be exercised by the Optionee’s spouse, if the spouse survives the Optionee, otherwise, by the legal representative of the Optionee’s estate. If no legal representative is appointed, the Option may be exercised by the person entitled to that right under the laws of descent and distribution of the state where the Optionee resided at the time of death.

5. Changes in Capitalization.

(a) The number of Option Shares and the Exercise Price shall be proportionately adjusted for any increase or decrease in the number of issued shares of Common Stock resulting from a subdivision or combination of shares or the payment of a stock dividend (in excess of two percent (2%)) in shares of Common Stock to holders of outstanding shares of Common Stock or any other increase or decrease in the number of shares of Common Stock outstanding effected without receipt of consideration by the Company.

(b) If the Company shall be the surviving corporation in any merger, consolidation, reorganization or other change in the corporate structure of the Company or the Common Stock or in the event of an extraordinary dividend (including a spin-off), the Optionee shall be entitled to purchase or receive the number and class of securities to which a holder of the number of shares of Common Stock subject to the Option at the time of such transaction would have been entitled to receive as a result of such transaction, and a corresponding adjustment shall be made in the Exercise Price. Upon the occurrence of a Change in Control (defined below) all of the unvested Options granted hereunder will vest sixty (60) days after the Change in Control event occurs (unless vesting earlier pursuant to the terms of the Award). If the Optionee is terminated by the Company other than for egregious circumstances during such sixty (60) day period, all of the unvested Options granted hereunder will vest on the date of termination. For purposes of this Agreement, the term “Change in Control” shall have the same meaning as the term “Change in Control” as set forth in the Plan; provided, however, that a Change in Control shall not include any event as a result of which (i) Don Tyson; (ii) individuals related to Don Tyson by blood, marriage or adoption; and/or (iii) any entities (including, but not limited to, a partnership, corporation, trust or limited liability company) in which one or more individuals described in clauses (i) and (ii) hereof possess over fifty percent (50%) of the voting power or beneficial interests of such entities continue to possess, immediately after such event, over fifty percent (50%) of the voting power in the Company or, if applicable, successor entity. The Committee shall have the sole discretion to interpret the foregoing provisions of this paragraph.


(c) In lieu of any adjustment or permitted exercises of the Option contemplated by Subsection (b) above, the Committee retains the discretion in the event of any transaction contemplated by Subsection (b) to cancel the Option in consideration for a payment to the Optionee equal to the positive difference between the then aggregate Fair Market Value of, and the aggregate Exercise Price for, those vested Option Shares which have not been exercised as of the effective date of such transaction. Such payment may be made in shares of Common Stock or in cash or in any combination thereof.

(d) The existence of the Plan and this Award shall not affect in any way the right or power of the Company to make or authorize any adjustment, reclassification, reorganization or other change in its capital or business structure, any merger or consolidation of the Company, any issue of debt or equity securities having preferences or priorities as to the Common Stock or the rights thereof, the dissolution or liquidation of the Company, any sale or transfer of all or any part of its business or assets, or any other corporate act or proceeding.

6. Special Limitations on Exercise. Any exercise of the Option is subject to the condition that if at any time the Committee, in its discretion, shall determine that the listing, registration or qualification of the shares covered by the Option upon any securities exchange or under any state or federal law is necessary or desirable as a condition of or in connection with the delivery of shares thereunder, the delivery of any or all shares pursuant to the Option may be withheld unless and until such listing, registration or qualification shall have been effected. The Optionee shall deliver to the Company, prior to the exercise of the Option, such information, representations and warranties as the Company may reasonably request in order for the Company to be able to satisfy itself that the Option Shares being acquired in accordance with the terms of an applicable exemption from the securities registration requirements of applicable federal and state securities laws.

7. Legend on Stock Certificates. The Company may endorse any legends on certificates evidencing Option Shares that it deems necessary and advisable or as may be required to reflect any restrictions provided for herein or otherwise required by applicable federal or state securities laws.

8. Governing Laws. This Award shall be construed, administered and enforced according to the laws of Delaware; provided, however, no option may be exercised except, in the reasonable judgment of the Board of Directors, in compliance with exemptions under applicable state securities laws of the state in which the Optionee resides, and/or any other applicable securities laws.

9. Successors. This Award shall be binding upon and inure to the benefit of the heirs, legal representatives, successors and permitted assigns of the parties.

10. Notice. Except as otherwise specified herein, all notices and other communications under this Award shall be in writing and shall be deemed to have been given if personally delivered or if sent by registered or certified United States mail, return receipt requested, postage prepaid, addressed to the proposed recipient at the last known address of the recipient. Any party may designate any other address to which notices shall be sent by giving notice of the address to the other parties in the same manner as provided herein.

11. Severability. In the event that any one or more of the provisions or portion thereof contained in this Award shall for any reason be held to be invalid, illegal or unenforceable in any respect, the same shall not invalidate or otherwise affect any other provisions of this Award, and this Award shall be construed as if the invalid, illegal or unenforceable provision or portion thereof had never been contained herein.


12. Entire Agreement. Subject to the terms and conditions of the Plan, this Award expresses the entire understanding and agreement of the parties.

13. Violation. Any transfer, pledge, sale, assignment, or hypothecation of the Option or any portion thereof shall be a violation of the terms of this Award and shall be void and without effect.

14. Headings. Paragraph headings used herein are for convenience of reference only and shall not be considered in construing this Award.

15. Specific Performance. In the event of any actual or threatened default in, or breach of, any of the terms, conditions and provisions of this Award, the party or parties who are thereby aggrieved shall have the right to specific performance and injunction in addition to any and all other rights and remedies at law or in equity, and all such rights and remedies shall be cumulative.

16. No Right to Continued Employment. Neither the establishment of the Plan nor the award of Option Shares hereunder shall be construed as giving the Optionee the right to continued employment.

17. Defined Terms. Any capitalized terms herein not otherwise defined shall have the meanings set forth for such terms in the Plan.


Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:11/21/114,  8-K
For Period end:10/1/11
 List all Filings 


5 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

11/13/23  Tyson Foods, Inc.                 10-K        9/30/23  119:19M
11/14/22  Tyson Foods, Inc.                 10-K       10/01/22  118:20M
11/15/21  Tyson Foods, Inc.                 10-K       10/02/21  124:19M
 2/11/21  Tyson Foods, Inc.                 10-K/A     10/03/20  131:23M
11/16/20  Tyson Foods, Inc.                 10-K       10/03/20  134:23M
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