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Tyson Foods, Inc. – ‘10-K’ for 10/2/10 – ‘EX-10.43’

On:  Monday, 11/22/10, at 7:59am ET   ·   For:  10/2/10   ·   Accession #:  1193125-10-265708   ·   File #:  1-14704

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

11/22/10  Tyson Foods, Inc.                 10-K       10/02/10  143:29M                                    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   1.87M 
 2: EX-10.12    First Amendment, Dated October 3, 2010, to the      HTML     43K 
                Senior Advisor Agreement                                         
 3: EX-10.22    Agreement, Dated as of October 3, 2010, Between     HTML     97K 
                the Company and John Tyson                                       
 4: EX-10.31    Second Amendment to Executive Savings Plan of       HTML     44K 
                Tyson Foods, Inc.                                                
 5: EX-10.41    Form of Restricted Stock Agreement                  HTML     72K 
 6: EX-10.43    Form of Stock Option Grant Agreement                HTML     64K 
 7: EX-10.44    Form of Stock Option Grant Agreement                HTML     64K 
 9: EX-14.1     Code of Conduct of the Company                      HTML    126K 
10: EX-21       Subsidiaries of the Company                         HTML     65K 
11: EX-23.1     Consent of Pricewaterhousecoopers, LLP              HTML     39K 
12: EX-23.2     Consent of Ernst & Young, LLP                       HTML     40K 
 8: EX-12.1     Calculation of Ratio of Earnings to Fixed Charges   HTML     56K 
13: EX-31.1     Certification of Chief Executive Officer Pursuant   HTML     43K 
                to Section 302                                                   
14: EX-31.2     Certification of Chief Financial Officer Pursuant   HTML     43K 
                to Section 302                                                   
15: EX-32.1     Certification of Chief Executive Officer Pursuant   HTML     39K 
                to Section 906                                                   
16: EX-32.2     Certification of Chief Financial Officer Pursuant   HTML     39K 
                to Section 906                                                   
109: XML         IDEA XML File -- Definitions and References          XML    404K  
129: XML         IDEA XML File -- Filing Summary                      XML    471K  
122: XML.R1      Document and Entity Information                      XML    264K  
123: XML.R2      Consolidated Statements of Income                    XML    730K  
69: XML.R3      Consolidated Balance Sheets                          XML    414K 
79: XML.R4      Consolidated Balance Sheets (Parenthetical)          XML    160K 
106: XML.R5      Consolidated Statements of Shareholders' Equity      XML   2.30M  
101: XML.R6      Consolidated Statements of Shareholders' Equity      XML    192K  
                (Parenthetical)                                                  
136: XML.R7      Consolidated Statements of Cash Flows                XML    505K  
40: XML.R8      Business and Summary of Significant Accounting       XML     96K 
                Policies                                                         
100: XML.R9      Change in Accounting Principles                      XML    155K  
34: XML.R10     Acquisitions                                         XML     63K 
33: XML.R11     Discontinued Operation                               XML     74K 
68: XML.R12     Other Income and Charges                             XML     67K 
116: XML.R13     Derivative Financial Instruments                     XML    186K  
71: XML.R14     Property, Plant and Equipment                        XML     73K 
75: XML.R15     Goodwill and Other Intangible Assets                 XML    128K 
94: XML.R16     Other Current Liabilities                            XML     67K 
142: XML.R17     Commitments                                          XML     78K  
58: XML.R18     Debt                                                 XML    916K 
23: XML.R19     Fair Value Measurements                              XML    196K 
78: XML.R20     Comprehensive Income (Loss)                          XML    112K 
113: XML.R21     Stock-Based Compensation                             XML    110K  
47: XML.R22     Pensions and Other Postretirement Benefits           XML    315K 
107: XML.R23     Supplemental Cash Flow Information                   XML     67K  
76: XML.R24     Transactions With Related Parties                    XML     63K 
135: XML.R25     Income Taxes                                         XML    156K  
118: XML.R26     Earnings (Loss) Per Share                            XML    107K  
83: XML.R27     Segment Reporting                                    XML    148K 
95: XML.R28     Quarterly Financial Data (Unaudited)                 XML    127K 
32: XML.R29     Capital Structure                                    XML     60K 
37: XML.R30     Contingencies                                        XML     80K 
50: XML.R31     Valuation and Qualifying Accounts                    XML     86K 
63: XML.R32     Business and Summary of Significant Accounting       XML    178K 
                Policies (Policy)                                                
92: XML.R33     Business and Summary of Significant Accounting       XML     69K 
                Policies (Tables)                                                
117: XML.R34     Change in Accounting Principles (Tables)             XML    146K  
27: XML.R35     Discontinued Operation (Tables)                      XML     72K 
41: XML.R36     Derivative Financial Instruments (Tables)            XML    251K 
125: XML.R37     Property, Plant and Equipment (Tables)               XML     71K  
134: XML.R38     Goodwill and Other Intangible Assets (Tables)        XML    129K  
85: XML.R39     Other Current Liabilities (Tables)                   XML     67K 
139: XML.R40     Commitments (Tables)                                 XML     78K  
42: XML.R41     Debt (Tables)                                        XML    927K 
141: XML.R42     Fair Value Measurements (Tables)                     XML    196K  
52: XML.R43     Comprehensive Income (Loss) (Tables)                 XML    116K 
24: XML.R44     Stock-Based Compensation (Tables)                    XML    111K 
51: XML.R45     Pensions and Other Postretirement Benefits           XML    352K 
                (Tables)                                                         
112: XML.R46     Supplemental Cash Flow Information (Tables)          XML     66K  
133: XML.R47     Income Taxes (Tables)                                XML    165K  
73: XML.R48     Earnings (Loss) Per Share (Tables)                   XML    103K 
54: XML.R49     Segment Reporting (Tables)                           XML    138K 
91: XML.R50     Quarterly Financial Data (Unaudited) (Tables)        XML    122K 
30: XML.R51     Valuation and Qualifying Accounts (Tables)           XML     84K 
98: XML.R52     Business and Summary of Significant Accounting       XML    571K 
                Policies (Narratives) (Details)                                  
56: XML.R53     Business and Summary of Significant Accounting       XML    169K 
                Policies (Schedule) (Details)                                    
39: XML.R54     Change in Accounting Principles (Narratives)         XML     51K 
                (Details)                                                        
132: XML.R55     Change in Accounting Principles (Income Statement    XML   1.19M  
                Schedule) (Details)                                              
127: XML.R56     Change in Accounting Principles (Balance Sheet       XML    410K  
                Schedule) (Details)                                              
67: XML.R57     Acquisitions (Details)                               XML    129K 
46: XML.R58     Discontinued Operation (Narratives) (Details)        XML    110K 
120: XML.R59     Discontinued Operation (Lakeside's Operating         XML    126K  
                Results) (Details)                                               
36: XML.R60     Other Income and Charges (Details)                   XML    262K 
102: XML.R61     Derivative Financial Instruments (Narratives)        XML    123K  
                (Details)                                                        
99: XML.R62     Derivative Financial Instruments (Aggregate          XML    123K 
                Outstanding Notionals Related to Cash Flow Hedges)               
                (Details)                                                        
126: XML.R63     Derivative Financial Instruments (Pretax Impact of   XML    254K  
                Cash Flow Hedge Derivative Instruments on the                    
                Consolidated Statements of Income) (Details)                     
121: XML.R64     Derivative Financial Instruments (Aggregate          XML    123K  
                Outstanding Notionals Related to Fair Value                      
                Hedges) (Details)                                                
138: XML.R65     Derivative Financial Instruments (Gains or Losses    XML    159K  
                on the Hedging Items) (Details)                                  
44: XML.R66     Derivative Financial Instruments (Pretax Impact of   XML    149K 
                Derivative Instruments on the Consolidated                       
                Statements of Income) (Details)                                  
66: XML.R67     Derivative Financial Instruments (Aggregate          XML    292K 
                Outstanding Notionals Related to Undesignated                    
                Positions) (Details)                                             
89: XML.R68     Derivative Financial Instruments (Pretax Impact of   XML    256K 
                Undesignated Derivatives) (Details)                              
77: XML.R69     Derivative Financial Instruments (Fair Value of      XML    206K 
                All Derivative Instruments) (Details)                            
90: XML.R70     Property, Plant and Equipment (Narratives)           XML     60K 
                (Details)                                                        
140: XML.R71     Property, Plant and Equipment (Property, Plant and   XML    131K  
                Equipment and Accumulated Depreciation) (Details)                
45: XML.R72     Goodwill and Other Intangible Assets (Narratives)    XML    155K 
                (Details)                                                        
53: XML.R73     Goodwill and Other Intangible Assets (Other          XML    104K 
                intangible assets by type) (Details)                             
49: XML.R74     Goodwill and Other Intangible Assets (Goodwill       XML    526K 
                activity for fiscal years 2010 and 2009) (Details)               
86: XML.R75     Other Current Liabilities (Details)                  XML     96K 
97: XML.R76     Commitments (Narratives) (Details)                   XML    210K 
82: XML.R77     Commitments (Minimum lease commitments under         XML    101K 
                non-cancelable leases) (Details)                                 
74: XML.R78     Commitments (Future Purchase Commitments)            XML     99K 
                (Details)                                                        
43: XML.R79     Debt (Narratives) (Details)                          XML   1.16M 
25: XML.R80     Debt (Major components of debt) (Details)            XML    440K 
87: XML.R81     Debt (Income Statement) (Details)                    XML   1.95M 
65: XML.R82     Debt (Balance Sheet) (Details)                       XML   2.19M 
81: XML.R83     Debt (Cash Flow) (Details)                           XML   2.33M 
111: XML.R84     Fair Value Measurements (Narratives) (Details)       XML    458K  
105: XML.R85     Fair Value Measurements (Assets and Liabilities)     XML    786K  
                (Details)                                                        
60: XML.R86     Fair Value Measurements (Debt Securities)            XML    115K 
                (Details)                                                        
115: XML.R87     Fair Value Measurements (Available for Sale          XML    295K  
                Securities) (Details)                                            
103: XML.R88     Fair Value Measurements (Fair Value and Carrying     XML     79K  
                Value of Debt) (Details)                                         
48: XML.R89     Comprehensive Income (Loss) (Accumulated Other       XML    117K 
                Comprehensive Income) (Details)                                  
72: XML.R90     Comprehensive Income (Loss) (Other Comprehensive     XML    317K 
                Income (Loss) (Details)                                          
104: XML.R91     Stock-Based Compensation (Narratives) (Details)      XML    458K  
57: XML.R92     Stock-Based Compensation (Stock Options Awards)      XML    162K 
                (Details)                                                        
119: XML.R93     Stock-Based Compensation (Assumptions as of the      XML    114K  
                Grant Date Used in the Fair Value Calculation)                   
                (Details)                                                        
62: XML.R94     Stock-Based Compensation (Restricted Stock Awards)   XML    151K 
                (Details)                                                        
110: XML.R95     Pensions and Other Postretirement Benefits           XML    220K  
                (Narratives) (Details)                                           
88: XML.R96     Pensions and Other Postretirement Benefits           XML    830K 
                (Benefit Obligations and Funded Status) (Details)                
26: XML.R97     Pensions and Other Postretirement Benefits (Net      XML    336K 
                Periodic Benefit Cost) (Details)                                 
61: XML.R98     Pensions and Other Postretirement Benefits           XML    228K 
                (Assumptions) (Details)                                          
114: XML.R99     Pensions and Other Postretirement Benefits (Plan     XML   1.14M  
                Assets) (Details)                                                
38: XML.R100    Pensions and Other Postretirement Benefits (Plan     XML    194K 
                Assets) (Reconciliation of change in fair value                  
                measurement of defined benefit plans) (Details)                  
84: XML.R101    Pensions and Other Postretirement Benefits           XML    120K 
                (Estimated Future Benefit Payments) (Details)                    
96: XML.R102    Supplemental Cash Flow Information (Details)         XML     92K 
124: XML.R103    Transactions With Related Parties (Details)          XML     92K  
143: XML.R104    Income Taxes (Narratives) (Details)                  XML    390K  
55: XML.R105    Income Taxes (Provision for Income Taxes from        XML    145K 
                Continuing Operations) (Details)                                 
28: XML.R106    Income Taxes (Reason for Differences in Federal      XML    195K 
                Tax Rate and Effective Income Tax Rate) (Details)                
59: XML.R107    Income Taxes (Tax Effects of Major Items Recorded    XML    253K 
                as Deferred Tax Assets and Liabilities) (Details)                
64: XML.R108    Income Taxes (Activity Related to Gross              XML    145K 
                Unrecognized Tax Benefits) (Details)                             
35: XML.R109    Earnings (Loss) Per Share (Narratives) (Details)     XML     93K 
131: XML.R110    Earnings (Loss) Per Share (Segment Reporting)        XML    546K  
                (Details)                                                        
128: XML.R111    Segment Reporting (Narratives) (Details)             XML    506K  
29: XML.R112    Segment Reporting (Segment Operating Income          XML    730K 
                (Loss)) (Details)                                                
70: XML.R113    Quarterly Financial Data (Unaudited) (Narratives)    XML    111K 
                (Details)                                                        
80: XML.R114    Quarterly Financial Data (Unaudited) (Details)       XML    699K 
108: XML.R115    Capital Structure (Details)                          XML     92K  
31: XML.R116    Contingencies (Details)                              XML    507K 
137: XML.R117    Valutation and Qualifying Accounts (Details)         XML    210K  
130: EXCEL       IDEA Workbook of Financial Reports (.xls)            XLS   4.36M  
17: EX-101.INS  XBRL Instance -- tsn-20101002                        XML   6.33M 
19: EX-101.CAL  XBRL Calculations -- tsn-20101002_cal                XML    400K 
20: EX-101.DEF  XBRL Definitions -- tsn-20101002_def                 XML   1.26M 
21: EX-101.LAB  XBRL Labels -- tsn-20101002_lab                      XML   2.03M 
22: EX-101.PRE  XBRL Presentations -- tsn-20101002_pre               XML   1.81M 
18: EX-101.SCH  XBRL Schema -- tsn-20101002                          XSD    362K 
93: ZIP         XBRL Zipped Folder -- 0001193125-10-265708-xbrl      Zip    356K 


‘EX-10.43’   —   Form of Stock Option Grant Agreement


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



  Form of Stock Option Grant Agreement  

Exhibit 10.43

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 «First_name                    » «MI» «Last_name                    » (the “Optionee”) 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.

 

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, after attaining at least age 62, retirement; 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, after attaining at least age 62, retirement; 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)

 

Prior to First Anniversary of Grant Date

One-third ( 1/3)

 

First Anniversary of Grant Date

 

One-third ( 1/3)

 

Second Anniversary of Grant Date

 

One-third ( 1/3)

 

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 voluntary termination of employment after attaining at least age 62. If Optionee is involuntarily terminated by the Company other than for Cause, all unvested Option Shares which have been granted and outstanding for at least two years will fully vest upon the Optionee’s execution of a Separation Agreement and General Release and such Options will be exercisable for a period of three months from Optionee’s termination date (but no later than the tenth anniversary of the Grant Date). 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.:
By:  

 

Title:  

President and CEO

 

1


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 owned 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

 

2


(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.

 

3


(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.

 

4


12. Certain Breaches of Employment Agreement. Notwithstanding anything to the contrary herein, if, at any time, the Company determines that the Optionee has breached any of the terms, provisions and restrictions imposed upon the Optionee under any employment agreement between the Company and Optionee, or any provision thereof, then in effect (the “Employment Agreement”), all of the Option Shares shall be forfeited. Such forfeiture shall occur without limiting the Company’s other rights and remedies available under the Employment Agreement.

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

14. 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.

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

16. 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.

17. 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.

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

 

5


Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:11/22/104,  8-K
For Period end:10/2/10
 List all Filings 


2 Subsequent Filings that Reference this Filing

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

 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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Filing Submission 0001193125-10-265708   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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