Document:

Form of Delayed Issuance Stock Purchase Election Agreement

 Exhibit 10.59 
 VICAL INCORPORATED 
 DELAYED ISSUANCE STOCK PURCHASE GRANT NOTICE 
 (AMENDED AND RESTATED STOCK INCENTIVE PLAN) 
 Vical Incorporated (the “Company”), pursuant to its Amended and Restated Stock Incentive Plan (the “Plan”), hereby awards to Employee a right to purchase
the number of shares of the Company’s Common Stock set forth below (the “Award”). The Award is subject to all of the terms and conditions as set forth herein and in the Plan and the Delayed Issuance Stock Purchase
Agreement (the “Award Agreement”), both of which are attached hereto and incorporated herein in their entirety. Capitalized terms not otherwise defined herein shall have the meanings set forth in the Plan or the Award
Agreement. In the event of any conflict between the terms in the Award and the Plan, the terms of the Plan shall control. 
  

					
	Employee:	 	  
	  	
	Date of Grant:	 	  
	  	
	Number of Shares Subject to Award:	 	  
	  	
	Purchase Price per Share:	 	 $0.01
	  	
	Total Purchase Price:	 	  
	  	

  

			
	Vesting Schedule:	 	25% of the Shares subject to this Award shall vest on the first anniversary following the Date of Grant and 1/16th of the Shares shall vest at the end of each three-month period following such first anniversary; provided in each case
that the Employee’s Service has not terminated prior to that date. In addition, the vesting of the Shares shall accelerate upon the occurrence of the events set forth in Section 2(b) of the Delayed Issuance Stock Purchase
Agreement.
		
	Issuance Schedule:	 	The Shares will be issued in accordance with the issuance schedule set forth in Section 6 of the Delayed Issuance Stock Purchase Agreement.

 Additional Terms/Acknowledgements: The undersigned Employee acknowledges receipt of, and understands and agrees to, this Delayed Issuance Stock
Purchase Grant Notice, the Award Agreement and the Plan. Employee further acknowledges that as of the Date of Grant, this Delayed Issuance Stock Purchase Grant Notice, the Award Agreement and the Plan set forth the entire understanding between
Employee and the Company regarding the Award and supersedes all prior oral and written agreements on that subject. 
  

									
	VICAL INCORPORATED	 		 	EMPLOYEE:
				
	By:	 	  
	 		 	  

		 	Signature	 		 	Signature
					
	Title:	 	  
	 		 	Date:	 	  

					
	Date:	 	  
	 		 		 	

  

			
	ATTACHMENTS:	 	Delayed Issuance Stock Purchase Agreement and Amended and Restated Stock Incentive Plan

 ATTACHMENT 1 
 VICAL INCORPORATED 
 AMENDED AND RESTATED STOCK INCENTIVE PLAN 
 DELAYED ISSUANCE STOCK PURCHASE AGREEMENT 
 Pursuant to the Delayed Issuance Stock Purchase Grant Notice (“Grant Notice”) and this Delayed Issuance Stock Purchase Agreement and in consideration of your services, Vical
Incorporated (the “Company”) has awarded you a Delayed Issuance Stock Purchase Award (the “Award”) under its Amended and Restated Stock Incentive Plan (the “Plan”). Your Award
is granted to you effective as of the Date of Grant set forth in the Grant Notice for this Award. This Delayed Issuance Stock Purchase Agreement shall be deemed to be agreed to by the Company and you upon the signing by you of the Delayed Issuance
Stock Purchase Grant Notice to which it is attached. Capitalized terms not explicitly defined in this Delayed Issuance Stock Purchase Agreement shall have the same meanings given to them in the Plan. In the event of any conflict between the terms in
this Delayed Issuance Stock Purchase Agreement and the Plan, the terms of the Plan shall control. The details of your Award, in addition to those set forth in the Grant Notice and the Plan, are as follows. 
 1. GRANT OF THE AWARD AND PURCHASE
PRICE. This Award represents the right to be issued on a future date the number of Shares as indicated in the Grant Notice. As of the Date of Grant, the Company will credit to a bookkeeping account maintained by the Company for
your benefit (the “Account”) the number of Shares subject to the Award. The Purchase Price for each Share shall be $0.01. 
 2. VESTING. 
 (a) In General. Subject to the
limitations contained herein, your Award will vest, if at all, in accordance with the vesting schedule provided in the Grant Notice, provided that vesting will cease upon the termination of your Service. Upon such termination of your Service, the
Shares credited to the Account that were not vested on the date of such termination will be forfeited at no cost to the Company and you will have no further right, title or interest in or to such underlying Shares. 
 (b) Vesting Acceleration. Notwithstanding the foregoing, upon a Change of Control during your Service, then your Award will
immediately vest in full. 
 3. NUMBER OF SHARES. 
 (a) The number of Shares subject to your Award may be adjusted from time to time for capitalization adjustments, as provided in
Section 9 of the Plan. 
 (b) Any Shares, cash or other property that becomes subject to the Award pursuant to this
Section 3 and Section 7, if any, shall be subject, in a manner determined by the Board of Directors, to the same forfeiture restrictions, restrictions on transferability, and time and manner of delivery as applicable to the other Shares
covered by your Award. 
  

 1. 

 (c) Notwithstanding the provisions of this Section 3, no fractional Shares or
rights for fractional Shares shall be created pursuant to this Section 3. The Board of Directors shall, in its discretion, determine an equivalent benefit for any fractional Shares or fractional Shares that might be created by the adjustments
referred to in this Section 3. 
 4. SECURITIES LAW COMPLIANCE. You may
not be issued any Shares under your Award unless either (i) the Shares are registered under the Securities Act; or (ii) the Company has determined that such issuance would be exempt from the registration requirements of the Securities Act
of 1933, as amended. Your Award also must comply with other applicable laws and regulations governing the Award, and you will not receive such Shares if the Company determines that such receipt would not be in material compliance with such laws and
regulations. 
 5. LIMITATIONS ON TRANSFER. Your Award is not transferable,
except by will or by the laws of descent and distribution. In addition to any other limitation on transfer created by applicable securities laws, you agree not to assign, hypothecate, donate, encumber or otherwise dispose of any interest in any of
the Shares subject to the Award until the Shares are issued to you in accordance with Section 6 of this Agreement. After the Shares have been issued to you, you are free to assign, hypothecate, donate, encumber or otherwise dispose of any
interest in such Shares provided that any such actions are in compliance with the provisions herein and applicable securities laws. Notwithstanding the foregoing, by delivering written notice to the Company, in a form satisfactory to the Company,
you may designate a third party who, in the event of your death, shall thereafter be entitled to receive any distribution of Shares to which you were entitled at the time of your death pursuant to this Agreement. 
 6. DATE OF ISSUANCE. 
 (a) The Company will deliver to you a number of Shares equal to the number of vested Shares subject to your Award, including any
additional Shares received pursuant to Section 3 above that relate to those vested Shares on the applicable vesting date(s). However, if a scheduled delivery date falls on a date that is not a business day, such delivery date shall instead fall
on the next following business day. 
 (b) Notwithstanding the foregoing, in the event that (i) you are subject to
the Company’s policy permitting officers and directors to sell Shares only during certain “window” periods, in effect from time to time or you are otherwise prohibited from selling Shares in the public market and any Shares covered by
your Award are scheduled to be delivered on a day (the “Original Distribution Date”) that does not occur during an open “window period” applicable to you, as determined by the Company in accordance with such policy,
or does not occur on a date when you are otherwise permitted to sell Shares on the open market, and (ii) the Company elects not to satisfy its tax withholding obligations by withholding Shares from your distribution, then such Shares shall not
be delivered on such Original Distribution Date and shall instead be delivered on the first business day of the next occurring open “window period” applicable to you pursuant to such policy (regardless of whether you are still providing
continuous services at such time) or the next business day when you are not prohibited from selling Shares in the open market, but in no event later than the fifteenth (15th) day of the third calendar month of the calendar year following the
calendar year in which the Original Distribution Date occurs. The form of such delivery (e.g., a stock certificate or electronic entry evidencing such Shares) shall be determined by the Company. 
  

 2. 

 7. DIVIDENDS. You shall be entitled to receive payments equal to any
cash dividends and other distributions paid with respect to a corresponding number of Shares covered by your Award, provided that if any such dividends or distributions are paid in Shares, the Fair Market Value of such Shares shall be converted into
additional Shares covered by the Award, and further provided that such additional Shares shall be subject to the same forfeiture restrictions and restrictions on transferability as apply to the Shares subject to the Award with respect to which they
relate. 
 8. RESTRICTIVE LEGENDS. The Shares issued under your Award shall be endorsed
with appropriate legends determined by the Company. 
 9. AWARD NOT A
SERVICE CONTRACT. 
 (a) Your Service with the Company or an Affiliate is not for any
specified term and may be terminated by you or by the Company or an Affiliate at any time, for any reason, with or without cause and with or without notice. Nothing in this Delayed Issuance Stock Purchase Agreement (including, but not limited
to, the vesting of your Award pursuant to the schedule set forth in Section 2 herein or the issuance of the Shares subject to your Award), the Plan or any covenant of good faith and fair dealing that may be found implicit in this Delayed
Issuance Stock Purchase Agreement or the Plan shall: (i) confer upon you any right to continue in the employ of, or affiliation with, the Company or an affiliate; (ii) constitute any promise or commitment by the Company or an
affiliate regarding the fact or nature of future positions, future work assignments, future compensation or any other term or condition of employment or affiliation; (iii) confer any right or benefit under this Delayed Issuance Stock Purchase
Agreement or the Plan unless such right or benefit has specifically accrued under the terms of this Agreement or Plan; or (iv) deprive the Company of the right to terminate you at will and without regard to any future vesting opportunity that
you may have. 
 (b) By accepting this Award, you acknowledge and agree that the right to continue vesting in the Award
pursuant to the schedule set forth in Section 2 is earned only by continuing as an employee, director or consultant at the will of the Company (not through the act of being hired, being granted this Award or any other award or benefit) and that
the Company has the right to reorganize, sell, spin-out or otherwise restructure one or more of its businesses or Affiliates at any time or from time to time, as it deems appropriate (a “reorganization”). You further acknowledge and
agree that such a reorganization could result in the termination of your Service, or the termination of Affiliate status of your employer and the loss of benefits available to you under this Delayed Issuance Stock Purchase Agreement, including but
not limited to, the termination of the right to continue vesting in the Award. You further acknowledge and agree that this Delayed Issuance Stock Purchase Agreement, the Plan, the transactions contemplated hereunder and the vesting schedule set
forth herein or any covenant of good faith and fair dealing that may be found implicit in any of them do not constitute an express or implied promise of continued engagement as an employee or consultant for the term of this Agreement, for any
period, or at all, and shall not interfere in any way with your right or the Company’s right to terminate your Service at any time, with or without cause and with or without notice. 
 10. WITHHOLDING OBLIGATIONS. 
 (a) On or before the time you receive a distribution of the Shares subject to your Award, or at any time thereafter as requested by
the Company, you hereby authorize any

  

 3. 

 
required withholding from the Shares issuable to you and/or otherwise agree to make adequate provision in cash for any sums required to satisfy the federal, state, local and foreign tax
withholding obligations of the Company or any Affiliate which arise in connection with your Award (the “Withholding Taxes”). Additionally, the Company may, in its sole discretion, satisfy all or any portion of the Withholding
Taxes obligation relating to your Award by any of the following means or by a combination of such means: (i) withholding from any compensation otherwise payable to you by the Company; (ii) causing you to tender a cash payment; or
(iii) withholding Shares from the Shares issued or otherwise issuable to you in connection with the Award with a Fair Market Value (measured as of the date Shares are issued to pursuant to Section 6) equal to the amount of such Withholding
Taxes; provided, however, that the number of such Shares so withheld shall not exceed the amount necessary to satisfy the Company’s required tax withholding obligations using the minimum statutory withholding rates for federal, state, local and
foreign tax purposes, including payroll taxes, that are applicable to supplemental taxable income. 
 (b) Unless the tax
withholding obligations of the Company and/or any Affiliate are satisfied, the Company shall have no obligation to deliver to you any Shares. 
 (c) In the event the Company’s obligation to withhold arises prior to the delivery to you of Shares or it is determined after the delivery of Shares to you that the amount of the
Company’s withholding obligation was greater than the amount withheld by the Company, you agree to indemnify and hold the Company harmless from any failure by the Company to withhold the proper amount. 
 11. UNSECURED OBLIGATION. Your Award is unfunded, and as a holder of a vested Award, you shall be
considered an unsecured creditor of the Company with respect to the Company’s obligation, if any, to issue Shares pursuant to this Agreement. You shall not have voting or any other rights as a stockholder of the Company with respect to the
Shares to be issued pursuant to this Agreement until such Shares are issued to you pursuant to Section 6 of this Agreement. Upon such issuance, you will obtain full voting and other rights as a stockholder of the Company. Nothing contained in
this Agreement, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind or a fiduciary relationship between you and the Company or any other person. 
 12. OTHER DOCUMENTS. You hereby acknowledge receipt or the right to receive a document providing the
information required by Rule 428(b)(1) promulgated under the Securities Act, which includes the Plan prospectus. In addition, you acknowledge receipt of the Company’s policy permitting officers and directors to sell Shares only during certain
“window” periods and the Company’s insider trading policy, in effect from time to time. 
 13.
NOTICES. Any notices provided for in your Award or the Plan shall be given in writing and shall be deemed effectively given upon receipt or, in the case of notices delivered by the Company to you, five (5) days after deposit
in the United States mail, postage prepaid, addressed to you at the last address you provided to the Company. Notwithstanding the foregoing, the Company may, in its sole discretion, decide to deliver any documents related to participation in the
Plan and this Award by electronic means or to request your consent to participate in the Plan by electronic means. You hereby consents to receive such documents by electronic delivery and, if requested, to agree to participate in the Plan through an
on-line or

  

 4. 

 electronic system established and maintained by the Company or another third party
designated by the Company. 
 14. MISCELLANEOUS. 
 (a) The rights and obligations of the Company under your Award shall be transferable to any one or more persons or entities, and all
covenants and agreements hereunder shall inure to the benefit of, and be enforceable by the Company’s successors and assigns. Your rights and obligations under your Award may only be assigned with the prior written consent of the Company.

 (b) You agree upon request to execute any further documents or instruments necessary or desirable in the sole
determination of the Company to carry out the purposes or intent of your Award. 
 (c) You acknowledge and agree that you
have reviewed your Award in its entirety, have had an opportunity to obtain the advice of counsel prior to executing and accepting your Award, and fully understand all provisions of your Award. 
 (d) This Agreement shall be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental
agencies or national securities exchanges as may be required. 
 (e) All obligations of the Company under the Plan and
this Agreement shall be binding on any successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business and/or assets
of the Company. 
 15. GOVERNING PLAN DOCUMENT. Your Award is subject to all
the provisions of the Plan, the provisions of which are hereby made a part of your Award, and is further subject to all interpretations, amendments, rules and regulations which may from time to time be promulgated and adopted pursuant to the Plan.
Except as expressly provided herein, in the event of any conflict between the provisions of your Award and those of the Plan, the provisions of the Plan shall control. 
 16. SEVERABILITY. If all or any part of this Agreement or the Plan is declared by any court or governmental authority to be unlawful or invalid, such unlawfulness or invalidity shall
not invalidate any portion of this Agreement or the Plan not declared to be unlawful or invalid. Any Section of this Agreement (or part of such a Section) so declared to be unlawful or invalid shall, if possible, be construed in a manner which will
give effect to the terms of such Section or part of a Section to the fullest extent possible while remaining lawful and valid. 
 17. EFFECT ON OTHER EMPLOYEE BENEFIT PLANS. The value of the Award subject to this Agreement shall not be included as compensation, earnings,
salaries, or other similar terms used when calculating the Employee’s benefits under any employee benefit plan sponsored by the Company or any Affiliate, except as such plan otherwise expressly provides. The Company expressly reserves its
rights to amend, modify, or terminate any of the Company’s or any Affiliate’s employee benefit plans. 
  

 5. 

 18. CHOICE OF LAW. The interpretation,
performance and enforcement of this Agreement will be governed by the law of the state of California without regard to such state’s conflicts of laws rules. 
 19. AMENDMENT. This Agreement may not be modified, amended or terminated except by an instrument in writing, signed by you and by a duly authorized representative of the Company.
Notwithstanding the foregoing, this Agreement may be amended solely by the Board of Directors by a writing which specifically states that it is amending this Agreement, so long as a copy of such amendment is delivered to you, and provided that no
such amendment adversely affecting your rights hereunder may be made without your written consent. Without limiting the foregoing, the Board of Directors reserves the right to change, by written notice to you, the provisions of this Agreement in any
way it may deem necessary or advisable to carry out the purpose of the grant as a result of any change in applicable laws or regulations or any future law, regulation, ruling, or judicial decision, provided that any such change shall be applicable
only to rights relating to that portion of the Award which is then subject to restrictions as provided herein. 
  

 6.Retirement Separation Waiver and Release Agreement

 Exhibit 10(x) 
 RETIREMENT SEPARATION WAIVER AND RELEASE AGREEMENT 
 This Retirement Separation Waiver and Release Agreement (“Agreement”) is entered into as of the 17th day of December, 2009, by and between Terry S. Lisenby (“Executive”) and Nucor Corporation.

 WHEREAS, Executive has spent twenty four (24) years as a Nucor (as defined below) employee, and has most recently
been employed as Nucor Corporation’s Chief Financial Officer, Treasurer and Executive Vice President; 
 WHEREAS,
Executive has decided to retire from Nucor effective December 31, 2009 (the “Effective Date”); 
 WHEREAS,
based upon the Severance Plan (as defined below), Executive shall be eligible to receive certain severance benefits contingent upon his agreement to the covenants set forth in this Agreement and his strict compliance with such covenants; 

WHEREAS, pursuant to that certain Executive Employment Agreement by and between Executive and Nucor dated as of April 10,
2001, as amended by an Amendment Agreement dated as of November 7, 2007 (as amended, the “Employment Agreement”), Executive is entitled to certain post-separation benefits in addition to those granted under the Severance Plan provided
that Executive adheres to the post-separation restrictive covenants set forth in the Employment Agreement; 
 WHEREAS,
Nucor and Executive desire for this Agreement to, amongst other things, supersede (as of the Effective Date) the terms of the Employment Agreement; 
 WHEREAS, Executive’s years of experience as an Executive Officer of Nucor give him unique expertise and insight into Nucor’s operations and management; and 
 WHEREAS, the parties wish to enter into this Agreement during the course of Executive’s employment to set forth Executive’s
post-separation benefit opportunities and to protect Nucor’s competitive advantages, confidential trade secrets and goodwill. 
 NOW, THEREFORE, in consideration of the reasons recited above, the severance and other post-separation benefits to be paid by Nucor to Executive upon termination of his full-time employment with Nucor, the mutual covenants and
obligations contained herein, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and which consideration Executive was not otherwise entitled to receive, Executive and Nucor hereby agree
effective as of the Effective Date as follows: 
 1. Recitals. The above recitals are true and correct and are
incorporated herein by reference as if fully set forth herein. 
 2. Definitions. For purposes of this Agreement
the following definitions shall apply: 
 (a) The term “Business” means the research, manufacture,
marketing, sale and/or distribution of steel or steel products (including but not limited to flat-rolled steel, steel shapes, structural steel, light gauge steel framing, steel plate, steel joists and girders, steel deck, steel fasteners, metal
building systems, wire rod, welded-wire reinforcement rolls and sheets, cold finished steel bars and wire, guard rail, fabricated concrete reinforcement bars, and structural welded-wire reinforcement) or steel or steel product inputs (including but
not limited to scrap metal and direct reduced iron). 

 (b) The term “Code” means the Internal Revenue Code of 1986, as
amended. 
 (c) The term “Competing Business” means any business activity (i) that is the same as,
or is in direct competition with, any portion of the Business and (ii) in which Executive engaged in during the course of his employment with Nucor. 
 (d) The term “Confidential Information” shall include all confidential and proprietary information of Nucor, including, without limitation, any of the following information to the extent not
generally known to third persons: financial and budgetary information and strategies; plant design, specifications, and layouts; equipment design, specifications, and layouts; product design and specifications; manufacturing processes, procedures,
and specifications; data processing or other computer programs; research and development projects; marketing information and strategies; customer lists; vendor lists; information about customer preferences and buying patterns; information about
prospective customers, vendors, or business opportunities; information about Nucor’s costs and the pricing structure used in sales to customers; information about Nucor’s overall corporate business strategy; and technological innovations
used in Nucor’s business, to the extent that such information does not fall within the definition of Secret Information. 
 (e) The term “Customer” means the following alternatives: 
 (i) any and all customers of Nucor with whom Nucor is doing business at the time of Executive’s termination of employment with Nucor, but if such definition is deemed overbroad by a court of law, then; 
 (ii) any customer of Nucor with whom Executive or Executive’s direct reports had significant contact or with whom
Executive or Executive’s direct reports directly dealt on behalf of Nucor at the time of Executive’s last date of full time employment with Nucor, but if such definition is deemed overbroad by a court of law, then; 
 (iii) any customer of Nucor with whom Executive had significant contact or with whom Executive directly dealt on behalf of
Nucor at the time of Executive’s last date of full time employment with Nucor. 
 Provided, however, that the term
“Customer” shall not include any business or entity that no longer does business with Nucor without any direct or indirect interference by Executive or violation of this Agreement by Executive, and that ceased doing business with Nucor
prior to any direct or indirect communication or contact by Executive. 
 (f) The term “Prospective
Customer” means any person or entity who does not currently or has not yet purchased the products or services of Nucor, but who, at the time of Executive’s last date of full-time employment with Nucor has been targeted by Nucor as a
potential user of the products or services of Nucor, and whom Executive or his direct reports participated in the solicitation of or on behalf of Nucor. 
 (g) The term “Nucor” means Nucor Corporation and its direct and indirect subsidiaries and affiliates in existence or planned as of the Effective Date. 
  

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 (h) The term “Restricted Territory” means Executive’s
geographic area of responsibility at Nucor which Executive acknowledges extends to the full scope of Nucor operations throughout North America. “Restricted Territory” therefore consists of the following alternatives reasonably necessary to
protect Nucor’s legitimate business interests: 
 (i) the United States, Canada, and Mexico, where Executive
acknowledges Nucor engages in the Business, but if such territory is deemed overbroad by a court of law, then; 
 (ii) the United States, where Executive acknowledges Nucor engages in the Business, but if such territory is deemed overbroad by a court of law, then; 
 (iii) any state in the United States located within a three hundred (300) mile radius of a Nucor plant or facility, but
if such territory is deemed overbroad by a court of law, then; 
 (iv) any state in the United States where a
Customer or Prospective Customer is located. 
 (i) The term “Secret Information” means Nucor’s
proprietary and confidential information (i) that is not generally known in the Business, which would be difficult for others to acquire or duplicate without improper means, (ii) that Nucor strives to keep secret, and (iii) from which
Nucor derives substantial commercial benefit because of the fact that it is not generally known. As used in this Agreement, Nucor’s Secret Information includes, without limitation: (w) Nucor’s process of developing and producing raw
material, and designing and manufacturing steel and iron products; (x) Nucor’s process for treating, processing or fabricating steel and iron products; (y) Nucor’s customer lists, non-public financial data, strategic business
plans, competitor analysis, sales and marketing data, and proprietary margin, pricing, and cost data; and (z) any other information or data which meets the definition of Trade Secrets. 
 (j) The term “Severance Period” means the period of time commencing on the date of Executive’s separation of
employment from Nucor and terminating twenty four (24) months thereafter. 
 (k) The term “Trade
Secrets” has the meaning assigned to such term by the North Carolina Trade Secrets Protection Act. 
 3.
Post-Retirement Benefits. 
 (a) Severance Plan. Executive recognizes and agrees that
pursuant to the Nucor Corporation Severance Plan for Senior Officers and General Managers (the “Severance Plan”), Executive shall receive certain Severance Benefits (as defined in the Severance Plan) contingent upon his execution of this
Agreement and strict compliance with the covenants contained herein. Based on Executive’s (a) September 16, 1985 date of hire, (b) effective retirement date of December 31, 2009 and (c) current annual base salary of
Four Hundred Thirty-Four Thousand Nine Hundred Dollars ($434,900), Executive would be eligible to receive Severance Benefits under the Severance Plan totaling Eight Hundred Eighty Thousand Nine Hundred Twenty Dollars and Seventy-Three Cents
($880,920.73) payable in twenty-four (24) monthly installments of Thirty-Six Thousand Seven Hundred and Five Dollars and Three Cents ($36,705.03) (the “Monthly Severance Plan Payments”). Subject to the provisions of Paragraph 3(c) of
this Agreement, the payments of the Monthly Severance Plan Payments shall be made each month

  

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following the Effective Date. In the event Executive dies during the Severance Period and provided that Executive was not in breach of his obligations under this Agreement at the time of his
death, the remaining Monthly Severance Plan Payments that would have been paid to Executive pursuant to the Severance Plan shall be paid to Executive’s estate in a single sum payment as soon as practicable (but in any event within ninety
(90) days) following Executive’s death. All Monthly Severance Plan Payments shall be subject to regular and customary withholding. 
 (b) Non-Competition Payment. 
 (i) Contingent upon his
execution of this Agreement and strict compliance with the covenants contained herein, Nucor will pay Executive One Hundred Twenty One Thousand Seven Hundred Seventy-Two Dollars ($121,772) each month (the “Monthly Non-Compete Payments”,
and together with the Monthly Severance Plan Payments, collectively, the “Monthly Separation Payments”) for twenty-four (24) months following the Effective Date. Subject to the provisions of Paragraph 3(c) of this Agreement, the
payments of the Monthly Non-Compete Payment shall be made each month following the Effective Date. All Monthly Non-Compete Payments shall be subject to regular and customary withholding. 
 (ii) If Executive dies prior to the Effective Date, Nucor’s obligations to make any payments of the
Monthly Non-Compete Payments under this Agreement will automatically terminate and Executive’s estate and executors will have no rights to any payments of the Monthly Non-Compete Payments under this Agreement. If Executive dies during the first
twelve months following the Effective Date, then Nucor will pay Executive’s estate the payments of the Monthly Non-Compete Payments through the end of the twelfth (12th) month following the Effective Date. If Executive dies twelve (12) or more months following the Effective
Date, then Nucor’s obligations to make any payments of the Monthly Non-Compete Payments will automatically terminate without the necessity of Nucor providing notice (written or otherwise). 
 (iii) Executive acknowledges and agrees that the payments described in this Paragraph 3(b) (A) are the same payments
that Executive would have been entitled to pursuant to Section 4 of the Employment Agreement and (B) are provided in lieu of, and not in addition to, the payments Executive would have been entitled to pursuant to Section 4 of the
Employment Agreement. 
 (c) Compliance with 409A. Because Executive (i) is and will be as of the
Effective Date a “specified employee” under Section 409A(a)(2)(B)(i) of the Code and (ii) the Monthly Separation Payments would constitute non-exempt “deferred compensation” for purposes of Section 409A of the
Code, in order to comply with Section 409A of the Code, the Monthly Separation Payments that would otherwise be payable pursuant to Paragraphs 3(a) and 3(b) of this Agreement during the six (6) month period immediately following the
Effective Date shall be accumulated and the Executive’s right to receive payment of such accumulated amount (which such amount shall not accrue interest) will be delayed until the seventh month following the Effective Date. 
 4. Acknowledgment of Nucor Protectable Interests. Executive acknowledges and agrees that Nucor competes in North America and
throughout the world in the Business. Executive further acknowledges and agrees that Nucor has Secret Information and Confidential Information to which he has had access and has used in the course of his employment with Nucor. Executive acknowledges
that

  

 4 

 
Nucor’s Secret Information and Confidential Information are valuable to Nucor and provide it with a competitive advantage in the Business. Executive also acknowledges and agrees that during
his employment with Nucor he has had substantial contact and developed goodwill with Nucor’s personnel (including, without limitation, executive officers and senior management of Nucor), customers, vendors and/or suppliers, and that such
goodwill is an important and valuable asset of Nucor. 
 5. Non-Competition Covenant. Executive hereby agrees that
for the duration of the Severance Period, Executive shall not, directly or indirectly, within the Restricted Territory: 
 (a) engage in a Competing Business, whether as an employee, consultant, or in any other capacity; 
 (b)
commence, establish or own (in whole or in part) any Competing Business, whether (i) by establishing a sole proprietorship, (ii) as a partner of a partnership, (iii) as a member of a limited liability company, (iv) as a
shareholder of a corporation (except to the extent Executive is the holder of not more than five percent (5%) of any class of the outstanding stock of any company listed on a national securities exchange so long as Executive does not actively
participate in the management or business of any such entity) or (v) as the owner of any similar equity interest in any such entity; 
 (c) provide any public endorsement of, or otherwise lend Executive’s name for use by, any person or entity engaged in a Competing Business; or 
 (d) engage in work that would inherently call on him in the fulfillment of his duties and responsibilities to reveal, rely
upon, or otherwise use Nucor’s Confidential Information or Secret Information. 
 6. Nonsolicitation.
Executive hereby agrees for the duration of the Severance Period, Executive will not, directly or indirectly, within the Restricted Territory, do any of the following: 
 (a) solicit, contact, or attempt to influence any Customer to limit, curtail, cancel, or terminate any business it transacts
with, or products it receives from Nucor; 
 (b) solicit, contact, or attempt to influence any Prospective
Customer to terminate any business negotiations it is having with Nucor, or to otherwise not do business with Nucor; 
 (c) solicit, contact, or attempt to influence any Customer to purchase products or services from an entity other than Nucor, which are the same or substantially similar to, or otherwise in competition with, those offered to the Customer by
Nucor; or 
 (d) solicit, contact, or attempt to influence any Prospective Customer to purchase products or
services from an entity other than Nucor, which are the same or substantially similar to, or otherwise in competition with, those offered to the Prospective Customer by Nucor. 
 7. Anti-Piracy. 
 (a) Executive agrees for the duration of the Severance Period, Executive will not, directly or indirectly, encourage, contact, or attempt to induce any employees of Nucor (i) with whom Executive had
regular contact with as of the Effective Date, and (ii) who are employed by Nucor at the time of the encouragement, contact or attempted inducement, to end their employment relationship with Nucor. 
  

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 (b) Executive further agrees for the duration of the Severance Period not to
hire for any reason any employees described in Paragraph 7(a) of this Agreement. 
 8. Confidentiality. Except and
only as required by law, Executive shall not, at any time or in any manner, either directly or indirectly, disclose, divulge, reveal, or use any Confidential Information, Secret Information or Trade Secrets of Nucor that Executive learned of or
otherwise acquired during his employment with Nucor. The provisions of this Paragraph 8 shall survive indefinitely. Executive further agrees that he shall maintain and keep the terms and conditions of this Agreement confidential for an indefinite
term except that Executive may disclose such terms to his spouse, attorney, tax advisor and/or financial planner. 
 9.
Return of Property. Executive agrees that he shall return any and all Nucor property and information, regardless of medium or format, to Nucor no later than three (3) days following his last day of employment, and Executive shall
not retain any copies of any Nucor information. Notwithstanding the foregoing, Executive may retain such Nucor property and information as is specifically agreed to by Nucor’s Chief Executive Officer, provided, however, that any information so
retained by Executive shall be deemed Confidential Information and shall be subject to the restrictions set forth in Paragraph 8 of this Agreement. 
 10. Release. Executive agrees that, in consideration for the payments referenced in Paragraph 3, he, for himself, his heirs, executors, administrators, and assigns, hereby releases, waives,
and forever discharges Nucor, its predecessors, successors and assigns, and its officers, directors, employees, agents, representatives and trustees (“Nucor Releasees”), from any and all claims or liabilities of whatever kind or nature
which he ever had or which he now has, known or unknown, including, but not limited to, any claims arising under or pursuant to the Employment Agreement or any other contract claims; claims for bonuses, severance pay, employee or fringe benefits;
and claims based on any state or federal wage, employment, or common laws, statutes, or amendments thereto, including, but not limited to: (i) any claim under the Employee Retirement Income Security Act, 29 U.S.C. § 1001 et seq., or COBRA;
(ii) any race, color, religion, sex, or national origin discrimination claims under Title VII of the 1964 Civil Rights Act, 42 U.S.C. § 2000(e) et seq.; (iii) any claim of disability discrimination under the Americans with
Disabilities Act (“ADA”), 42 U.S.C. § 12102 et seq.; (iv) any claim of retaliation or wrongful discharge, (v) any age discrimination claims under the Age Discrimination in Employment Act, as amended (“ADEA”), 29
U.S.C. § 621 et seq.; (v) any claim under the Fair Labor Standard Act of 1939 as amended, 29 U.S.C.§ 201 et seq.; or (vi) any claim under the Rehabilitation Act of 1973, as amended, 29 U.S.C. § 701 et seq.; or any
other claims related to or arising out of his employment relationship with Nucor or the termination thereof whether based on contract (including, without limitation, the Employment Agreement), quasi-contract, quantum merit implied contract, tort,
wrongful or constructive discharge or any employment related claim. This release and waiver does not apply to claims that (x) Executive may have for incentive compensation earned under or pursuant to the Nucor Corporation Senior
Officers Annual Incentive Plan or the Nucor Corporation Senior Officers Long-Term Incentive Plan for his employment with Nucor through the Effective Date, or (y) may arise after the date this Agreement is executed. 
 Nothing in this Paragraph 10 or elsewhere in this Agreement prevents or prohibits Executive from filing a claim with a government agency such as the United
States Equal Employment Opportunity Commission that is responsible for enforcing a law on behalf of the government. However, Executive understands that because he is waiving and releasing all claims for monetary damages and any other forms of
personal relief, he may only seek and receive non-financial forms of relief through any such claim. 
  

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 11. Remedies. Executive agrees that in the event of a breach or threatened
breach by Executive of any provision of this Agreement, monetary remedies may not be adequate and Executive agrees that Nucor is entitled to injunctive relief, without need to post bond or similar security, in lieu of or in addition to, such
monetary remedies. In the event that Executive engages in or attempts to engage in any of the conduct prohibited in Paragraphs 5, 6, 7 or 8 of this Agreement or fails to comply with the provisions of Paragraph 9, Nucor shall be entitled, in
Nucor’s sole discretion, to (a) cease all Monthly Separation Payments, and Executive shall immediately refund to Nucor any Monthly Separation Payments already paid to him, and/or (b) in addition to any other remedies available at law
or in equity, to enforce the provisions of Paragraphs 5, 6, 7, 8 and 9 by temporary, preliminary and permanent injunction to restrain any violation or threatened violation by Executive of any provisions of Paragraphs 5, 6, 7, 8 and 9. Executive
further agrees to reimburse Nucor its costs (including, without limitation, attorney’s fees) incurred for to enforce Paragraphs 5, 6, 7, 8 or 9. 
 12. Cooperation With Legal Matters: Executive agrees that after his date of separation of employment from Nucor, he will cooperate with and assist Nucor, upon request and with reasonable
notice, by providing information relevant to matters he gained knowledge of or was involved with while employed by meeting with Nucor’s attorneys or other representatives on such matters, and by appearing voluntarily for hearings, depositions,
trials, or any regulatory or legal proceedings related to such matters. Executive understands that Nucor will reimburse him for any reasonable expense he incurs related to this cooperation and assistance, but will not be obligated to pay him any
additional amounts. 
 13. Assignability. Neither this Agreement, nor any right or interest hereunder, shall be
assignable by Executive, Executive’s beneficiaries, or legal representatives. Nucor, however, retains the right to assign this Agreement. This Agreement shall be binding upon Executive, Executive’s heirs, administrators, and
representatives, and shall inure for the benefit of the Nucor Releasees and each of their respective heirs, administrators, representatives, executors, successors, and assigns. 
 14. Choice of Law and Venue. This Agreement’s validity, interpretation, performance and enforcement shall be construed
and governed in accordance with, and by the laws of, the State of North Carolina, the location of Nucor Corporation’s corporate headquarters and Executive’s place of employment prior to the Effective Date. Executive, for himself and his
successors and assigns, hereby expressly and irrevocably (a) consents to the exclusive jurisdiction of the state courts of Mecklenburg County, North Carolina for any action arising out of or related to this Agreement; and (b) waives any
and all objection to any such action based on venue or forum non conveniens. Executive agrees that Nucor shall have the right to file and enforce any award, order, judgment, or injunction in any appropriate jurisdiction, and Executive waives
service of process in connection with the filing and enforcement of the award, order, judgment, or injunction in any foreign jurisdiction and venue in which Nucor seeks to enforce the award, order, judgment, or injunction. 
 15. Severability. If any part of this Agreement is determined by a court of competent jurisdiction to be invalid in any
respect, the parties agree that the court may modify by redaction any provision or part thereof to the extent reasonably necessary to protect Nucor’s legitimate business interests. The remaining provisions shall retain full force and effect.

 16. Entire Agreement. This Agreement contains the entire agreement of the parties and supersedes all prior
agreements and understandings, oral or written, between the parties hereto with respect to the subject matter hereof, including, without limitation, the Employment Agreement. This Agreement may be modified or amended only by an instrument in writing
signed by Executive and Nucor and approved by Nucor’s Board of Directors. The language of this Agreement and all parts shall be construed as a whole and according to its reasonable and fair meaning, and not strictly for or against either party.
The parties agree they have jointly drafted this Agreement and agree that any rules requiring construction of this Agreement against its drafter shall not be applied to this Agreement. 
  

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 17. No Violation of Public Policy; Executive’s Right of Rescission.
Executive has carefully considered the nature and extent of the restrictions upon him and the rights and remedies conferred upon Nucor under Paragraphs 5, 6, 7, 8, 9 and 11 of this Agreement and acknowledges and agrees that they are reasonable in
scope, time, and territory; are designed to eliminate competition which would otherwise be unfair; do not interfere with Executive’s exercise of his inherent skill and experience; are reasonably required to protect the legitimate interests of
Nucor; and do not confer a benefit upon Nucor disproportionate to the detriment to Executive. Before executing this Agreement, Executive is advised to consult with an attorney of his choice, at his expense. Executive has seven (7) days after
execution hereof in which to revoke the Agreement, and this Agreement shall not become effective and enforceable until the expiration of seven (7) days following its execution by Executive. To revoke this Agreement, Executive should notify the
Chief Executive Officer of Nucor, by fax confirmed by certified mail within such seven (7) day period. No attempted revocation after the expiration of such seven (7) day period shall have any effect on the terms of this Agreement.

 18. Compliance with Older Workers Benefit Protection Act: In addition to the items noted, acknowledged or
discussed in Paragraph 17 above, by signing this Agreement, Executive specifically acknowledges and represents that: 
 (a) Executive has been given a period of twenty-one days to consider the terms of this Agreement. 
 (b)
The terms of this Agreement are clear and understandable to Executive; and 
 (c) The benefits Nucor will provide
to Executive under this Agreement exceed the benefits that Executive was otherwise entitled to receive as an employee of Nucor. 
  

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 IN WITNESS WHEREOF, Executive and Nucor have executed this Agreement as of the date first
set forth above. 
  

					
	Executive:	 	 /s/ Terry S. Lisenby

		 	Terry S. Lisenby
		
	Nucor Corporation:	 	 /s/ A. Rae Eagle

		 	By:	 	A. Rae Eagle
		 	Its:	 	Secretary

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