Document:

exv10w9c

 

EXHIBIT 10.9C

Amendment No. 3 to

Cenex Harvest States Cooperatives

Share Option Plan

WHEREAS, the Cenex Harvest States Share Option Plan (the “Plan”) was adopted by
the Company effective January 1, 1998 and was amended on August 31, 1998 and
May 2, 2001; and

WHEREAS, the Cenex Harvest States Share Option Plan Committee (the “Committee”)
has recommended to the Board that the Plan be amended in order to enable the
Company to grant options issued in exchange for the bonus or incentive
compensation of a participant on or about October 31 following the
determination of the bonus or incentive compensation with respect to a fiscal
year of the Company ending August 31; and

WHEREAS, the Plan provides that the Board of Directors of the Company may, from
time to time in its discretion, amend any provision of the Plan, in whole or in
part, with respect to any participant or group of participants;

NOW, THEREFORE, BE IT RESOLVED, That the Plan is amended, effective January 1,
2002, by amending and restating Section 3.2(a) thereof to read as follows:

     (a) Grant Date and Option Agreement. An Option granted in exchange for a
specified amount of future compensation or Board fees of the Participant shall
be delivered on or about March 31, June 30, September 30, and December 31, to
Participants who are employed by the Employer or who are serving as members of
the Board of Directors and shall reflect the specified amount of future base
compensation or Board fees of the Participant exchanged for the entire
preceding calendar quarter. An option granted in exchange for a specified
amount of future bonus or incentive compensation determined with respect to the
preceding fiscal year of the Employer ending August 31 shall be delivered as
soon as practicable following the determination of the bonus or incentive
compensation by the Employer to Participants who are employed by the Employer.
An Option shall become effective upon the execution by the Employer and the
Participant of an Option Agreement specifying the Stock, the number of shares
subject to the Option, the Exercise Price, and such other terms and in such
form as the Committee may from time to time determine in accordance with the
Plan. Any terms not specified in the Plan shall be specified in the Option
Agreement.

RESOLVED FURTHER, That the Chief Executive Officer and the Cenex Harvest States
Share Option Plan Committee are authorized and empowered to take any and all
additional actions to implement the aforesaid resolution.

Adopted: 06/04/02

	 	 	 	 	 
	 	CENEX HARVEST STATES COOPERATIVES

 	 
	 	By:  	s/ John Schmitz
 	 
	 	 	John Schmitz 	 
	 	 	Its Executive Vice President and CFOexv10w9d

 

EXHIBIT 10.9D

Amendment No. 4 to

Cenex Harvest States Cooperatives

Share Option Plan

WHEREAS, the Cenex Harvest States Share Option Plan (the “Plan”) was adopted by
the Company effective January 1, 1998 and was amended on August 31, 1998, May
2, 2001, and June 4, 2002; and

WHEREAS, the Committee for the Plan has recommended to the Board that the Plan
be amended to reflect the change in the name of the Company from Cenex Harvest
States Cooperatives to CHS Inc., which was effective as of August 5, 2003; and

WHEREAS, Section 5.1 of the Plan provides that the Board may amend the Plan in
whole, or in part.

NOW, THEREFORE, BE IT RESOLVED, That the Plan is amended, effective as of
August 5, 2003, as follows:

	I.	 	Section 2.5 of the Plan is amended to read as the following:

     2.5 “Committee” means the CHS Inc. Share Option Plan Committee
appointed in accordance with Section 6.1.

	2.	 	Section 2.6 of the Plan is amended to read as the following:

     2.6 “Disability” means that the Participant has been determined to
be disabled under the provision of the CHS Inc. Long Term Disability Plan
(formerly known as the Cenex Harvest States Cooperatives Long Term
Disability Plan).

	3.	 	Section 2.9 of the Plan is amended to read as the following:

     2.9 “Employer” means CHS Inc. (formerly known as Cenex Harvest
States Cooperatives), and any successor thereto, and any affiliated
entity that is related to the Employer pursuant to the rules under Code
sections 414(b), (c), or (d) and the regulations thereunder, which adopts
the Plan as a participating Employer.

	4.	 	Section 2.19 of the Plan is amended to read as the following:

     2.19 “Plan” means the CHS Inc. Share Option Plan (formerly known as
the Cenex Harvest States Cooperatives Share Option Plan), as set forth
herein and from time to time amended.

 

 

RESOLVED FURTHER, That the Chief Executive Officer of the Company and the
Committee for the Plan are authorized and empowered to take any and all
additional actions to implement the aforesaid resolutions.

Adopted: 04/06/04

	 	 	 	 	 
	 	CHS INC.

 	 
	 	By:  	s/ John Schmitz
 	 
	 	 	John Schmitz 	 
	 	 	Its Executive Vice President and CFOexv10w10

 

EXHIBIT 10.10

Option Agreement

CHS Inc.

Share Option Plan

Option Agreement

1. Grant of Option. CHS hereby grants to the Participant an Option to purchase
shares of Stock from CHS at the Exercise Price set forth in Paragraph 2 below:

	 	 	 
	Name of Participant:
	 	 
	

	 	
 
	 
	 	 
	Social Security No.
	 	 
	

	 	
 
	 
	 	 
	Grant Date:
	 	 
	

	 	
 

The shares of Stock subject to this Option and the total Market Price of the
underlying Stock as of the Grant Date will consist of the following investments
and that number of shares represented by the Market Price shown below:

	 	 	 
	Name of Investment	 	 
	Subject to Option
	 	Market Price

	

	 	$ 
	
 

	 	
 
	 
	 	 
	

	 	$ 
	
 

	 	
 
	 
	 	 
	

	 	$ 
	
 

	 	
 
	 
	 	 
	

	 	$ 
	
 

	 	
 

2. Exercise and Transfer of Option. The Option may be exercised only by the
Participant, the Participant’s Beneficiary, or the Permitted Transferee in
whole or in part, subject to minimum exercise requirements contained in the CHS
Inc. Share Option Plan (the “Plan”). In addition, under the terms of this
Agreement, the transfer of Options is not allowable except as permitted under
Section 3.8 of the Plan. The Option shall not otherwise be transferred,
assigned, pledged or hypothecated (whether by operation of law or otherwise),
except as provided therein, and no Option shall be subject to execution,
attachment or similar process.

Written notice of an election to exercise the Option, specifying the desired
Exercise Date and enclosing this Agreement shall be: (a) delivered to the CHS
Inc. Share Option Plan Committee (the “Committee”) at the following address no
later than three (3) business days prior to the desired Exercise Date, or (b)
mailed (by certified mail, postage prepaid), to the
Committee at the following address no later than ten (10) business days prior
to the desired Exercise Date:

CHS Inc.

Share Option Plan Committee

Sta. 479

P.O. Box 64089

St. Paul, MN 55164-0089

 

 

The Committee has determined the initial Grant Date Exercise Price shall equal
twenty-five percent (25%) of the Market Price of the Stock on the Grant Date.
For these purposes, the “Exercise Date” shall be the date upon which the
Participant’s written Option Exercise Form is approved by the Committee after
payment is received by the Committee (or arranged by financing from a financial
institution) at its principal business address (which is the address shown in
this Agreement, unless later changed).

3. Payment of Exercise Price. Payment of the Exercise Price shall be made by
check or other means acceptable to the Committee (in accordance with the terms
of the Plan) on or before the Exercise Date, and the Participant must satisfy
all federal, state and local withholding tax requirements in any manner
permitted under the Plan.

4. Time of Exercise. The holder of this Option may exercise the Adjusted
Portion of an Option at any time during the period beginning six (6) months
after the Grant Date and ending on the earliest of:

(a) ninety (90) days after the date of the Participant’s Termination of
Employment or Separation from Service, if he or she is terminated
involuntarily for cause;

(b) one-hundred-twenty (120) months after the Participant’s Termination
of Employment or Separation from Service, if his or her employment or
service terminates for any reason not specified above; or

(c) twenty (20) years from the Grant Date of the Option.

5. Adjusted Portion of Option. If the Participant experiences a Termination of
Employment or Separation from Service after the Grant Date, only the Adjusted
Portion of the Option may be exercised. The Adjusted Portion of this Option
which has been granted as an outright award or in exchange for the future base
compensation, annual variable pay, or Board of Directors’ fees of a Participant
is one-hundred percent:

6. Rights and Privileges. Neither the Participant nor a Beneficiary shall have
any of the rights and privileges of a stockholder with respect to any Stock
purchasable or issuable upon the exercise of an Option unless and until such
Option is exercised and the purchase price for the Stock has been paid in full.

7. Required Acceptance of Option Agreement. This Option is conditioned upon the
acceptance of this Agreement by the Participant as evidenced by the return of
an executed copy to the Committee within ten (10) days from date of receipt.

8. Interpretation of Option Agreement. Except to the extent preempted by
federal law, the Option and this Agreement shall be construed and interpreted
according to the laws of the State of Minnesota without regard to the choice of
law principles of such state.

 

 

9. Incorporation by Reference. Except as specifically provided in this
Agreement, the rights of the Participant, or any other person entitled to
exercise the Option, are governed by the terms and provisions of the CHS Inc.
Share Option Plan, which are incorporated by reference into this Agreement.
All initial capitalized terms used herein and not otherwise defined herein
shall have the meaning set forth in the Plan. The Participant agrees to be
bound by the terms of the Plan should a discrepancy exist between the terms of
this Agreement and the terms of the Plan, then the terms of the Plan will
control.

10. Immediate Exercise. In the event of the termination of the Plan in
connection with compliance with, or any addition or change in, any federal or
state law or regulation, the holder of this Option will be required to exercise
it immediately.

11. No Right to Continued Service. Nothing contained in this Agreement or in
the Plan shall be deemed to give any person the right to be retained in the
employ or in service as a member of the Board of Directors of CHS, or to
interfere with the right of CHS to discharge any employee at any time without
regard to the effect that such discharge shall have upon such a employee’s
rights or potential rights, if any, under the Plan. The provisions of the Plan
are in addition to, and not a limitation on any rights that a Participant may
have against CHS be reason of any employment or other agreement with CHS.

12. Amendment of Option Agreement. The Board of Directors of CHS may amend this
Option Agreement at any time (i) to comply with applicable law or regulations,
(ii) in connection with a Plan termination or amendment, or (iii) with the
consent of the Participant.

CHS Inc.

		
	By: 	 
Its Authorized Officer

The undersigned has consulted with tax and legal advisors and is not relying on
the advice or representations of CHS or the Committee on any legal or tax
matters. The undersigned certifies that this Option will be suitable for his
or her financial condition.

	 	 	 	 	 
	
 

	 	
 	 	 
	Participant

	 	Date
	 	 

	 	 	 	 	 	 	 
	Committee Acknowledgment:
	 	 	 	 	 	 
	

	 	
 
	 	
 	 	 
	

	 	By: Its Representative
	 	Date

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