Document:

ingr_Ex10_30

		

			CONFIDENTIAL – EXECUTION COPY

		

		
			EXHIBIT 10.30
		

		
			 
		

		
			CONFIDENTIAL SEPARATION AGREEMENT AND GENERAL RELEASE
		

		
			Martin Sonntag, a German citizen employed by Ingredion Incorporated in Westchester, Illinois, U.S.A. (“Executive”) and Ingredion Incorporated (“Ingredion” or the “Company”) hereby enter into this Confidential Separation Agreement and General Release (“Agreement”) and agree as follows:
		

		
			1.Executive hereby voluntarily resigns from his position as Senior Vice President, Strategy and Global Business Development, and from any and all officer and other positions that he currently or subsequently holds with Ingredion or any of its affiliates, subsidiaries or benefit plans, in each case, effective as of the close of business on April 30, 2018 (such date referred to herein as the “Separation Date,” unless the Separation Date is accelerated pursuant to Section 2(e) below). The Company hereby accepts such resignations.  Executive will execute any further documents necessary to effect the resignations from any and all positions that he holds with any affiliate or subsidiary of Ingredion.   
		

		
			2.Subject to the remainder of this Agreement, and provided that Executive signs and returns this Agreement to the Company within 21 days after his receipt of it, does not revoke this Agreement pursuant to Section 10 below, and complies with its terms:
		

		
			a.From the date this Agreement becomes effective until the Separation Date (the “Transition Period”), Executive shall remain a Company employee and shall perform such duties consistent with Executive’s status as an executive and historical duties with the Company, as Ingredion’s Chief Executive Officer (“CEO”) or his designee may direct, provided that Employee’s last day in the office shall be February 2, 2018.    Executive shall reasonably cooperate with the Company in transitioning his duties and responsibilities to such person(s) as are designated by the Company.  Executive agrees that he has not disclosed and will not disclose (internally or externally) that he will be separating from the Company prior to the Company’s formal announcement of his departure.  The Company agrees to consult with Executive in the wording of such internal and external (if any) announcement of Executive’s departure.
		

		
			b.During the Transition Period, the Company will continue to pay Executive his current pro-rated base salary, less required and authorized withholdings and deductions, and Executive will continue to participate in any available Company employee benefit plans and policies in which he currently participates, as in effect or amended from time to time.  Executive also shall remain eligible to receive an annual cash incentive bonus with respect to calendar year 2017, subject to the terms and conditions of the Company’s Annual Incentive Plan.  Executive agrees that he shall not be eligible for, and will not receive, any long-term incentive or equity awards with respect to calendar year 2018.  He  will continue to earn vacation time during the Transition Period.
		

		
			c.Provided that Executive also signs and returns to the Company the Supplemental Release attached as Exhibit A to this Agreement (the “Supplemental Release”) within 21 days after (but not before) the Separation Date and does not revoke it per its terms and has been and remains in compliance with this Agreement:
		

		
			(i)Executive shall be entitled to a special severance payment in the gross amount of three hundred and twenty-five thousand dollars ($325,000.00) (less required 

		 

		

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and authorized withholding and deductions), which Executive agrees is equal to one year of his current base salary;  
		

		
			(ii)a special payment of forty-two thousand dollars ($42,000) (less required and authorized withholding and deductions), which Executive agrees is equal to a pro-rated portion of his target level cash incentive bonus under the Company’s Annual Incentive Plan with respect to calendar year 2018;    
		

		
			(iii)if Executive is eligible and timely elects to receive continued coverage under the Company’s group health care plan pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), the Company will pay the full cost of the applicable premium payments for Executive’s and his eligible dependents’ (if any) continued COBRA coverage under such plan (as in effect or amended from time to time) (the “COBRA Subsidy”) for the twelve (12) month period following the Separation Date (such period referred to as the “COBRA Subsidy Period”).   If Executive elects not to be covered under COBRA for any portion of the twelve (12) months, the Company shall pay to Executive the cash equivalent of the COBRA premium payments for the remaining time period.  Executive shall promptly inform the Company in writing if he wishes to receive the cash payment in lieu of the COBRA premium payments.  .  Executive shall be responsible for the full unsubsidized costs of such COBRA coverage after the COBRA Subsidy Period.  Executive will be deemed to receive income attributable to the COBRA Subsidy and shall be responsible for any and all applicable tax liability arising from such benefit;
		

		
			(iv) a lump sum payment of ninety thousand dollars ($90,000.00) for repatriation of Executive and his spouse to Germany;  
		

		
			(v)at Executive’s option, Executive’s required income tax returns for the 2017 and 2018 tax years will be prepared by Ingredion Incorporated’s designated tax services provider (currently Deloitte Tax LLP) at the Company’s expense.  Executive will be continue to be solely responsible for complying with any and all applicable income, social or local income tax regulations in the U.S., Germany and in any other countries where he is required to pay taxes, and for payment of any taxes owed.  If Executive chooses to use the services of another provider for tax matters, this will be at Executive’s own expense;  
		

		
			(vi)  Outplacement services with a service provider of Executive’s choice to be paid to the provider on Executive’s behalf at a cost not to exceed eight thousand hundred dollars ($8,000), provided that the selected provider submits a full and final invoice within six (6) months of the Separation Date;  
		

		
			(vii) A lump sum payment of ten thousand dollars ($10,000) paid to The Bellows Law Group, Executive’s attorney, for legal fees incurred in connection with this Agreement; and, 
		

		
			(viii)Executive will be given the opportunity to purchase the automobile that he currently leases at wholesale terms as determined by the Company.  Executive may continue to use the automobile under the same procedures, including reimbursement of ordinary and reasonable expenses relating to the automobile, existing as of the date of this Agreement, through and including April 30, 2018. 
		

		
			d.Subject to the terms of this Agreement:  
		

		
			(i)the payment in Section 2(c)(i) and (iv) will be paid in a lump sum on the first regularly scheduled Company payday following the date by which Executive has 

		 

		

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signed and returned both this Agreement and the Supplemental Release, and the revocation periods set forth in Section 10 of this Agreement and Section 5 of the Supplemental Release have passed (without any revocation by him), and 
		

		
			(ii) the payment in Section 2(c)(ii) will be paid in two portions as follows:  (A) fifty percent (50%) paid no later than March 15, 2018; and (B) fifty percent (50%) paid  on the first regularly scheduled payroll date in January 2019.  
		

		
			Executive understands and agrees that he would not otherwise be entitled to the benefits in this Section 2, or to continued employment or pay during the Transition Period, if he did not sign this Agreement (without revoking it).  Executive also understands and agrees that his execution of the Supplemental Release within 21 days after (but not before) the Separation Date (without revoking it) is among the conditions precedent to the Company’s obligation to provide the payments and benefits under this Section 2. 
		

		
			e.Notwithstanding the above provisions of Sections 1 and 2, the Company may accelerate Executive’s Separation Date to (and thus the Transition Period will end on) a date prior to March 1, 2018 designated by the Company if Executive fails to comply with Sections 2(a), 7 or 8 of this Agreement, materially violates Company policy, or engages in other material misconduct (including without limitation theft, fraud, other material dishonesty, or insubordination).  In such event, Executive will not be entitled to the payments and benefits under Section 2 of this Agreement and will only be entitled to that portion of the salary and benefits in Section 2(b) that he accrues prior to the accelerated date of termination.
		

		
			3.Regardless of whether he signs this Agreement and the Supplemental Release, Executive also will receive any earned and unpaid salary and vacation pay through the Separation Date in accordance with Company policy.  Except as set forth in this Agreement or as otherwise required by applicable law, Executive’s participation in and rights under any Company employee benefit plans and programs (including, without limitation, with respect to any equity awards) will be governed by the terms and conditions of those plans and programs, which plans, programs, terms and conditions may be amended, modified, suspended or terminated by the Company at any time for any or no reason to the extent permitted by law.  Executive agrees that the Company and the other Released Parties do not owe him, and he will not receive, any other amounts, including without limitation any salary, bonus, severance, profit-sharing or incentive compensation of any kind, notice or severance pay, equity-based compensation, or other payments or benefits of any kind (including, without limitation, under Executive’s September 30, 2015offer letter (and any schedules thereto) (the “Offer Letter”); his the Confidentiality and Non-Compete Agreement dated February 1, 2014 between Executive and Ingredion Germany GmbH (“Ingredion Germany”) and Managing Director Service Agreement between Executive and Ingredion Germany effective February 1, 2014 (collectively, the “German Employment Agreements”); his Executive Severance Agreement with the Company dated September 30, 2015 (the “Executive Severance Agreement”); or any other company severance policies).  Prior to the Separation Date (or earlier if requested by the Company), Executive will return to the Company all documents and other property of the Company and the other Released Parties.  Executive further agrees that he is solely responsible for obtaining any visas or other authorizations as necessary for him and his family to remain and/or perform services in the United States after the Separation Date.
		

		
			4.“Released Parties” as used in this Agreement includes:  (a) the Company and its past, present, and future parents, divisions, subsidiaries, partnerships, affiliates, and other related entities, including but not limited to Ingredion Germany, and (b) each of the foregoing entities’ and persons’ past, present, and future owners, trustees, fiduciaries, administrators, shareholders, directors, officers, partners, members, associates, agents, employees, and 

		 

		

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attorneys, and (c) the predecessors, successors and assigns of each of the foregoing persons and entities.
		

		
			5.Executive, and anyone claiming through Executive or on his behalf, hereby waive and release the Company and the other Released Parties with respect to any and all claims, whether currently known or unknown, that Executive now has or has ever had against the Company or any of the other Released Parties arising from or related to any act, omission, or thing occurring or existing at any time prior to or on the date on which Executive signs this Agreement.  Without limiting the generality of the foregoing, the claims waived and released by Executive hereunder include, but are not limited to:
		

		
			a.all claims arising out of or related in any way to Executive’s employment, compensation (including, without limitation, under Executive’s Offer Letter,  the German Employment Agreements, his Executive Severance Agreement or other Company severance policies), other terms and conditions of employment, or termination from employment; 
		

		
			b.all claims that were or could have been asserted by Executive or on his behalf:  (i) in any federal, state, or local court, commission, or agency; and (ii) under any common law theory (including without limitation all claims for breach of contract (oral, written or implied), wrongful termination, defamation, invasion of privacy, infliction of emotional distress, tortious interference, fraud, estoppel, unjust enrichment, and any other contract, tort or other common law claim of any kind); and
		

		
			c.all claims that were or could have been asserted by Executive or on his behalf under:  (i) the Age Discrimination in Employment Act, as amended; and (ii)] any other federal, state, local, employment, services or other law, regulation, ordinance, constitutional provision, executive order or other source of law, including without limitation under any of the following laws, as amended from time to time:  Title VII of the Civil Rights Act of 1964, 42 U.S.C. §§ 1981 & 1981a, the Americans with Disabilities Act, the Equal Pay Act, the Employee Retirement Income Security Act, the Lilly Ledbetter Fair Pay Act of 2009, the Family and Medical Leave Act, the Genetic Information Nondiscrimination Act, the Fair Credit Reporting Act, the Illinois Human Rights Act, the Illinois Equal Pay Act, and the Chicago and Cook County Human Rights Ordinances.
		

		
			Notwithstanding the foregoing, the releases and waivers in this Section 5 shall not apply to any claim for unemployment or workers’ compensation, or a claim that by law is non-waivable.  Executive confirms that he has not filed any legal or other proceeding(s) against any of the Released Parties (subject to Section 12 below), is the sole owner of the claims released herein, has not transferred any such claims to anyone else, and has the full right to grant the releases and agreements in this Agreement.  Except as expressly provided in this Agreement, Executive acknowledges and agrees that he is not entitled to and will not receive any other compensation, payments, benefits, or recovery of any kind from the Company or the other Released Parties, including without limitation any bonus, severance, equity or other payments or any amounts under the Offer Letter, the German Employment Agreements, Executive Severance Agreement, or other company severance policies.    In the event of any further proceedings based upon any released matter, none of the Released Parties shall have any further monetary or other obligation of any kind to Executive, and Executive hereby waives any such monetary or other recovery.  As of the date of execution of this Agreement, the Company and the Released Parties do not have any known claims against the Executive.
		

		
			Notwithstanding the foregoing or anything else contained in this Agreement, this release shall not affect any right Executive may have to indemnification from the Company as set forth in the 

		 

		

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Company’s By-Laws or any vested benefits to which the Executive is already entitled as of the date of execution of this Agreement, pursuant to the terms of the relevant plan documents.
		

		
			6.Except as required by law and until public disclosure of this document is made by the Company, Executive will not disclose the existence or terms of this Agreement to anyone except his accountants, attorneys and spouse, and shall ensure that each such person complies with this confidentiality provision, provided that Executive may disclose his obligations under Section 7 to a prospective employer.  
		

		
			7.Executive hereby acknowledges that, by virtue of his unique relationship with the Company, Executive has had and will continue to have access to Confidential Information (as defined below) and unique and comprehensive familiarity with the Company and its business, which Executive would not have otherwise had but for his employment with the Company, and which the Executive acknowledges are valuable assets of the Company and its affiliates.  Accordingly, in consideration of the promises and agreements of the Company as provided in this Agreement, Executive agrees to undertake the following obligations, which he acknowledges are reasonably designed to protect the legitimate business interests of the Company and its affiliates, without unreasonably restricting his post-employment opportunities:
		

		
			a.Executive shall not, for a period through and including March 1, 2028, make use of or disclose, directly or indirectly, any trade secret or other non-public information of the Company or of any of its subsidiaries including without limitation: non-public financial information of strategic importance; information regarding acquisition or growth strategies, targets, assets, customers or go-to-market activities or business development matters; forecasting, marketing, sales, operations and other similar business plans; competitive pricing information and strategies; acquisition, investment or divestiture prospects, plans and activities; research and development strategies and plans; patented or unpatented inventions; non-public information regarding Company employees or the business relationship between the Company and customers and/or suppliers, including information which Executive knows to be the subject of a confidentiality agreement with an employee, customer or supplier; and/or information concerning major capital investments or other purchases of significant equipment or property (collectively, “Confidential Information”).  Notwithstanding the foregoing, Confidential Information does not include information that:  (a) becomes a matter of public record or is published in a newspaper, magazine or periodical on the internet, or in any other media available to the general public, other than as a result of any breach of this Agreement by Executive, or (b) is provided to Executive by an independent third party after the Separation Date, without that third party breaching confidentiality obligations to the Company or its affiliates, or (c) is required to be disclosed by any law, regulation or order of any court or regulatory commission, department or agency, provided that (subject to Section 12 below) Executive gives prompt notice of such requirement to the Company (unless prohibited by law) to enable the Company to seek an appropriate protective order.
		

		
			b.Executive agrees that for a period through and including March 1, 2019 (“Non-Compete Period”), he shall not in any manner, alone or as an officer, director, stockholder, investor or employee of or consultant to any other corporation or enterprise, engage or be engaged, or assist any other person, firm, corporation or enterprise in engaging or being engaged, in any business relationship, with any individual or entity anywhere in the world that develops, produces, manufactures, sells, or distributes starch, sweetener, or other products produced or marketed by Ingredion as of the date hereof, or that could be used as a substitute for such products including, but not limited to, Corn, Tapioca, Manioc, Yucca, Rice or Potato starches, flours, syrups, and sweeteners; Dextrose, Stevia-based or other high intensity sweeteners, Glucose, Polyols, HFCS, High Maltose syrup, and Maltodextrin sweeteners; Corn oil; Gluten protein; Caramel Color; Hydrocolloids (excluding cellulosics, but expressly including 

		 

		

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gum arabic, guar gum, xanthan and other products sold by TIC Gums as of the date of this Agreement); Pulse and Pea Based Proteins, including flours, concentrates and isolates; and specifically including but not limited to the following entities that manufacture such or similar products:  ADM, Bunge, Cargill, Roquette, Avebe, and Tate & Lyle,  including joint ventures, subsidiaries or divisions thereof or any entity which succeeds to the relevant business; or with an individual or entity which directly competes with the business of Kerr Concentrates in the United States, as that business exists on the date of this Agreement.   Notwithstanding any provision to the contrary, it would not be a violation of this Agreement if Executive accepts employment or a consulting relationship with a division of a multi-billion dollar company (other than those companies expressly identified in this Agreement) if that division is not engaged and does not engage during the Non-Compete Period, in any of the activities set forth herein.  Further, it shall not be a violation of this Agreement for Executive to be or become the registered or beneficial owner of less than 5% of any class of securities listed on any stock exchange, in any business or corporation which is included in the scope of this Section 7(b).
		

		
			c.Executive further agrees that for a period through and including May 1, 2019 he shall not, directly or indirectly, on his own behalf or on the behalf of any third party, solicit, hire or recruit employees of the Company or any of its subsidiaries, or induce or encourage employees, consultants,  independent contractors or third parties with whom he has come into contact through his employment with Ingredion or its affiliates, to end their relationship with the Company or any of its subsidiaries.
		

		
			d.Executive acknowledges and agrees that the provisions in this Section 7 are, reasonable, necessary and appropriate to protect the Company’s and its affiliates’ legitimate business interests.  The parties hereto agree that the Company and its subsidiaries may be damaged irreparably in the event that any provision of this Section 7 were otherwise breached and that money damages may be an inadequate remedy for any such nonperformance or breach.  Accordingly, the Company and its successors and permitted assigns shall be entitled to seek, in addition to other rights and remedies existing in their favor, to an injunction or injunctions to prevent any breach or threatened breach of any of such provisions and to enforce such provisions specifically (without limiting any other rights or remedies or the Company or its affiliates).  Executive further agrees that, notwithstanding any other provision herein, and without limiting the foregoing provisions of this Section 7(d) or any other available remedy, upon the nonappealable finding by a court of competent jurisdiction that the Executive has breached any provision of Section 7 of this Agreement, he shall promptly pay to the Company any damages awarded by the court, and he will not eligible for any remaining amounts thereunder.  Nothing herein shall, or is intended to, in any way limit or restrict the damages or other relief that the Company and its affiliates may seek and recover in the event of a breach by Executive of any provision of this Agreement.
		

		
			e.Executive agrees to inform the Company of any offer of employment or consulting engagement he obtains during the Non-Compete Period, within three (3) business days after receiving such offer.  If, prior to the expiration of the Non-Compete Period, Executive would like to become employed by or otherwise participate in any business or other activity that he believes may violate the restrictive covenants, Executive may request that the Company waive or limit its rights under the restrictive covenants as they pertain to the particular opportunity.  Executive will provide his request to the Company’s Senior Vice President, General Counsel, in writing, and will provide sufficient detail of the particular opportunity to allow the Company to evaluate his request.  The Company agrees that it will use reasonable efforts to respond to any request within ten business days, but failure to do so shall not be deemed a waiver.
		

		
			

		 

		

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			f.The parties agree that in the event any of the prohibitions or restrictions set forth in this Section 7 are found by a court of competent jurisdiction to be unreasonable or otherwise unenforceable, it is the purpose and intent of the parties that any such prohibitions or restrictions be deemed modified or limited so that, as modified or limited, such prohibitions or restrictions may be enforced to the fullest extent possible.
		

		
			8.Executive shall refrain from all conduct, verbal or otherwise, that disparages or damages the reputation, goodwill, or standing in the community of the Company or any of the other Released Parties (subject to Section 12 below), provided that nothing herein shall prohibit Executive from giving truthful testimony or evidence to a governmental entity, or if properly subpoenaed or otherwise required to do so under applicable law.  The Executive Officers of the Company (for as long as they respectively remain employed by the Company) shall refrain from all conduct, verbal or otherwise, that disparages or damages the reputation, goodwill, or standing in the community of the Executive, provided that nothing herein shall prohibit the Executive Officers of the Company from giving truthful testimony or evidence to a governmental entity, or if properly subpoenaed or otherwise required to do so under applicable law.  For purposes of this paragraph, the term “Executive Officers” shall refer to those individuals who are Section 16 reporting officers of the Company as of the date Executive executes this Agreement.  Executive agrees that he has no present or future right to employment with the Company or any of the other Released Parties (defined above) and will not apply for employment or engagement with any of them.
		

		
			9.Nothing in this Agreement is intended to or shall be construed as an admission by the Company or any of the other Released Parties that any of them violated any law, breached any obligation or otherwise engaged in any improper or illegal conduct with respect to Executive or otherwise.  The Released Parties expressly deny any such illegal or wrongful conduct.
		

		
			10.Executive understands and agrees that:  (a) this is the full and final release of all claims against the Released Parties through the date he signs this Agreement; (b) he knowingly and voluntarily releases claims hereunder for valuable consideration; (c) he hereby is and has been advised of hIS right to have hIS attorney review this Agreement (at hIS cost) before signing it; (d) he has 21 days to consider whether to sign this Agreement; and (e) he may, at hIS sole option, revoke this Agreement upon written notice delivered to Ingredion Incorporated, Attn: General Counsel, 5 Westbrook Corporate Center, Westchester, Illinois 60154, within 7 days after signing it.  This Agreement will not become effective or enforceable until this 7-day period has expired and will be void if Executive revokes it within such period.  EXECUTIVE AGREES THAT ANY MODIFICATIONS, MATERIAL OR OTHERWISE, MADE TO THIS agreement, DO NOT RESTART OR AFFECT IN ANY MANNER THE ORIGINAL UP TO 21 CALENDAR DAY CONSIDERATION PERIOD.
		

		
			11.Following the Separation Date, and except as otherwise provided in Section 12, Executive shall cooperate fully in any administrative, investigative, litigation or other legal matter(s) that may arise or have arisen involving the Company or any of the other Released Parties and which in any way relate to or involve Executive’s employment with, or duties for, the Company, provided there is no conflict between Executive’s legal interest and that of the Company in the reasonable judgment of Executive’s legal counsel.  Executive’s obligation to cooperate hereunder shall include, without limitation, meeting and conferring with such persons at such times and in such places as the Company and the other Released Parties may reasonably require, and giving truthful evidence and truthful testimony and executing and 

		 

		

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delivering to the Company and any of the other Released Parties any truthful papers reasonably requested by any of them.  Executive shall also provide reasonable cooperation in connection with transitioning other matters that may arise during the one year period after his Separation Date.  Requests for cooperation will be in keeping with Executives then current professional responsibilities and, when possible, shall take place by telephone conference or in Executive’s then city of residence.  Executive shall be reimbursed for reasonable actual out-of-pocket expenses that Executive incurs in rendering cooperation after the Separation Date pursuant to this Section 11, other than expenses of a minimal nature such as for domestic telephone calls.
		

		
			12.Notwithstanding anything to the contrary herein, this Agreement does not prohibit either party, where applicable, from confidentially or otherwise communicating or filing a charge or complaint with a governmental or regulatory entity, participating in a governmental or regulatory entity investigation, or giving truthful testimony or statements or other disclosures to a federal, state or local governmental or regulatory entity, in each case without having to disclose any such conduct to the other party, or from responding if properly subpoenaed or otherwise required to do so under applicable law.  Nothing in this Agreement shall limit Executive’s ability to disclose in confidence trade secrets to federal, state, and local government officials, or to an attorney, for the sole purpose of reporting or investigating a suspected violation of law or to disclose trade secrets in a document filed in a lawsuit or other proceeding, but only if the filing is made under seal and protected from public disclosure.  To the extent permitted by law, Executive agrees that if any claim is made based on any matter released herein, Executive hereby waives, and agrees that Executive shall not be entitled to recover and the Released Parties shall not be liable for, any further monetary or other relief arising out of or related to any such matter, for any actual or alleged personal injury or damages to Executive, including without limitation any costs, expenses and attorneys’ fees incurred by or on behalf of Executive (it being understood, however, that this Agreement does not limit Executive’s right to receive an award from a governmental or regulatory entity for information provided to such an entity, and not as compensation for actual or alleged personal injury or damages to Executive).
		

		
			13.All notices, requests or other communications provided for in this Agreement shall be made, if to the Company, to Company’s General Counsel, Ingredion Incorporated, 5 Westbrook Corporate Center, Westchester, Illinois  60154, and if to Executive, to Executive’s last home address and personal e-mail address on file with Company in writing,  [Address and Email Redacted], and to Executive’s attorney, Laurel Bellows, The Bellows Law Group, 209 S. LaSalle St., Ste. 800, Chicago, Illinois  60604 and lbellows@bellowslaw.com.  All notices and other communications required or permitted hereunder shall be in writing and shall be deemed given when (a) delivered by overnight courier, or (b) sent by  e-mail.
		

		
			14.Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under applicable law or rule in any jurisdiction (after any appropriate modification or limitation pursuant to Section 7(f)), such invalidity, illegality or unenforceability shall not affect the validity, legality or enforceability of any other provision of this Agreement or the validity, legality or enforceability of such provision in any other jurisdiction, but this Agreement shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein
		

		
			15.This Agreement shall be enforceable by Executive and his heirs, executors, administrators and legal representatives, and by the Company and its successors and assigns.  This Agreement may be assigned or transferred by the Company to, and shall inure to the benefit of, any affiliate of the Company or any person which at any time, whether by merger, purchase, or otherwise, acquires all or substantially all of the assets, stock or business of the Company or of any discrete portion thereof.  
		

		
			

		 

		

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			16.This Agreement embodies the entire agreement of the parties regarding the matters described herein and supersedes any and all prior and/or contemporaneous agreements, oral or written, between the parties regarding such matters, provided that nothing in this Agreement shall limit or release Executive from any other obligation regarding confidentiality, intellectual or other property, or post-employment competitive activities that Executive has or may have to the Company or any of its affiliates (including, without limitation, as set forth in the German Employment Agreements).  Notwithstanding the foregoing and any other language in this Agreement, this Agreement does not supersede or preclude the enforceability of any restrictive covenant provision contained in any prior agreement entered into by Executive, and no prior restrictive covenant supersedes or precludes the enforceability of any provision contained in this Agreement.  In the event of a conflict between any other document or agreement and this Agreement, this Agreement governs.  Executive confirms that, in executing this Agreement, he is not relying upon, and has not relied upon, any representation or statement not set forth in this Agreement made by the Company or any of its affiliates or their respective employees or representatives with respect to the matters set forth herein.
		

		
			17.This Agreement is governed by the internal laws of the State of Illinois, U.S.A. and may be modified only by a writing signed by all parties (subject to Section 7(f) above).  With regard to any dispute between the parties under this Agreement or the German Employment Agreements, the parties hereby irrevocably consent to, and agree not to object or assert any defense or challenge to, the exclusive jurisdiction and exclusive venue of the state and federal courts located in Chicago, Illinois, and agree that any claim which may be brought in a court of law or equity shall be brought exclusively in any such Chicago, Illinois court.   Sections 4 through 19 of this Agreement shall survive and continue in full force and effect in accordance with their respective terms, notwithstanding any termination of the Transition Period or the Executive’s employment.  
		

		
			18.It is intended that any amounts payable under this Agreement will be exempt from or comply with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and the treasury regulations relating thereto, and this Agreement shall be interpreted and construed accordingly.  Notwithstanding any other provision in this Agreement, if Executive is a “specified employee” as of the date of Executive’s “separation from service,” each as defined in Section 409A of the Code, then to the extent any amount payable to Executive (a) constitutes the payment of nonqualified deferred compensation within the meaning of Section 409A of the Code, (b) is payable upon Executive’s separation from service and (c) under the terms of this Agreement would be payable prior to the six-month anniversary of Executive’s separation from service, such payment shall be delayed until the earlier to occur of (x) the first day of the seventh month following Executive’s separation from service or (y) the date of the Executive’s death.  Any reimbursement payable to Executive pursuant to this Agreement shall in no event be paid later than the last day of the calendar year following the calendar year in which the Executive incurred the reimbursable expense.  Any amount of expenses eligible for reimbursement or in-kind benefit provided during a calendar year shall not affect the amount of expenses eligible for reimbursement or in-kind benefit to be provided during any other calendar year.  The right to reimbursement or to an in-kind benefit pursuant to this Agreement shall not be subject to liquidation or exchange for any other benefit.  To the extent that this Agreement or any part hereof is deemed to be a nonqualified deferred compensation plan subject to Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations and guidance promulgated thereunder, (i) the provisions of this Agreement shall be interpreted in a manner to comply in good faith with Section 409A, and (ii) the parties hereto agree to amend this Agreement, if necessary, for the purpose of comply with Section 409A promptly upon issuance of any regulations or guidance thereunder; provided that any such amendment shall not materially change the present value of the benefits payable to Executive or otherwise adversely affect the Company, without the consent of such party.
		

		
			

		 

		

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			19.This Agreement may be executed in two counterparts, each of which shall be deemed an original, and both of which together shall constitute one and the same instrument.
		

		
			THE PARTIES STATE THAT THEY HAVE READ THE FOREGOING, UNDERSTAND EACH OF ITS TERMS, AND INTEND TO BE BOUND THEREBY:
		

		
			 
		

		
			MARTIN SONNTAGINGREDION INCORPORATED
		

		
			 
		

		
			By:/s/_Martin Sonntag___________By: __/s/ Christine M. Castellano______
		

		
			Christine M. Castellano
		

		
			Senior Vice President, General Counsel
		

		
			 
		

		
			Date:__February 9, 2018_________Date:_February 12, 2018________________
		

		
			 
		

		
			

		 

		

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			CONFIDENTIAL – EXECUTION COPY

		

		

		
			EXHIBIT A -- SUPPLEMENTAL RELEASE
		

		
			Martin Sonntag (“Executive”) and Ingredion Incorporated (“Company”) hereby enter into this Supplemental Release (“Release”) in accordance with the Confidential Separation Agreement and General Release between Company and Executive dated as of ____________ __, 2018 (the “Agreement”).  Capitalized terms not expressly defined in this Release shall have the meanings set forth in the Agreement:
		

		
			1.Executive understands and agrees that Executive’s execution of this Release within 21 days after (but not before) the Separation Date (without revoking it) is among the conditions precedent to the Company’s obligation to provide the payments and other benefits in Section 2 of the Agreement.  The Company will provide such benefits in accordance with the terms of the Agreement once the conditions set forth therein and in this Release have been met.
		

		
			 
		

		
			2.“Released Parties” as used in this Release includes:  (a) the Company and its past, present, and future parents, divisions, subsidiaries, partnerships, affiliates, and other related entities; (b) each of the foregoing entities’ and persons’ past, present, and future owners, trustees, fiduciaries, administrators, shareholders, directors, officers, partners, members, associates, agents, employees, and attorneys; and (c) the predecessors, successors and assigns of each of the foregoing persons and entities.
		

		
			 
		

		
			3.Executive, and anyone claiming through him or on his behalf, hereby waive and release the Company and the other Released Parties with respect to any and all claims, whether currently known or unknown, that Executive now has or has ever had against the Company or any of the other Released Parties arising from or related to any act, omission, or thing occurring or existing at any time prior to or on the date on which he signs this Release.  Without limiting the foregoing, the claims waived and released by Executive hereunder include, but are not limited to, all claims under the Age Discrimination in Employment Act; all claims under any other federal, state, local, employment, services or other law, regulation, ordinance, constitutional provision, executive order or other source of law; all claims arising out of Executive’s employment, compensation, other terms and conditions of employment, or termination from employment; all claims for employment discrimination, harassment, retaliation and failure to accommodate; and all contract, tort and other common law claims, including without limitation all claims for breach of contract (oral, written or implied), wrongful termination, defamation, invasion of privacy, infliction of emotional distress, tortious interference, fraud, estoppel and unjust enrichment.  Notwithstanding the foregoing, the releases and waivers in this Section 3 shall not apply to any claim for unemployment or workers’ compensation, or a claim that by law is non-waivable.  
		

		
			 
		

		
			As of the date of execution of this Supplemental Release, the Company and the Released Parties do not have any known claims against the Executive or have set forth any such known claims in an appendix hereto.
		

		
			 
		

		
			Notwithstanding the foregoing or anything else contained in this Agreement, this release shall not affect any right Executive may have to indemnification from the Company as set forth in the Company’s By-Laws or any vested benefits to which the Executive is already entitled as of the date of execution of this Agreement, pursuant to the terms of the relevant plan documents.
		

		
			 
		

		
			4.Executive confirms that Executive has not filed any legal or other proceeding(s) against any of the Released Parties (subject to Section 6 below), is the sole owner of and has not transferred the claims released herein, and has the full right to grant the releases and agreements in this Release.  To the extent permitted by law, Executive agrees that 

		 

		

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if any claim is made based on any matter released herein, Executive hereby waives, and agrees that Executive shall not be entitled to recover and the Released Parties shall not be liable for, any further monetary or other relief arising out of or related to any such matter, for any actual or alleged personal injury or damages to Executive, including without limitation any costs, expenses and attorneys’ fees incurred by or on behalf of Executive (it being understood, however, that this Release does not limit Executive’s right to receive an award from a governmental or regulatory entity for information provided to such an entity, and not as compensation for actual or alleged personal injury or damages to Executive).
		

		
			 
		

		
			5.Executive understands and agrees that:  (a) this is the full and final release of all claims against the Released Parties through the date he signs this RELEASE; (b) he knowingly and voluntarily releases claims hereunder for valuable consideration; (c) he hereby is and has been advised of hIS right to have hIS attorney review this RELEASE (at hIS cost) before signing it; (d) he has 21 days to consider whether to sign this RELEASE; and (e) he may, at hIS sole option, revoke this RELEASE upon written notice delivered to Ingredion Incorporated, Attn: General Counsel, 5 Westbrook Corporate Center, Westchester, Illinois 60154, within 7 days after signing it.  This RELEASE will not become effective or enforceable until this 7-day period has expired and will be void if Executive revokes it within such period.  EXECUTIVE AGREES THAT ANY MODIFICATIONS, MATERIAL OR OTHERWISE, MADE TO THIS RELEASE, DO NOT RESTART OR AFFECT IN ANY MANNER THE ORIGINAL UP TO 21 CALENDAR DAY CONSIDERATION PERIOD.  
		

		
			 
		

		
			6.Except as required by law and until public disclosure of this document is made by the Company, Executive will not disclose the existence or terms of this Release to anyone except Executive’s accountants, attorneys and spouse, provided that each such person shall be bound by this confidentiality provision and Executive shall ensure such confidentiality.  Nothing in this Release is intended to or shall be construed as an admission by any of the Released Parties that any of them violated any law, breached any obligation or otherwise engaged in any improper or illegal conduct with respect to Executive or otherwise.  The Released Parties expressly deny any such illegal or wrongful conduct.  Notwithstanding anything to the contrary herein, this Release does not prohibit either party, where applicable, from confidentially or otherwise communicating or filing a charge or complaint with a governmental or regulatory entity, participating in a governmental or regulatory entity investigation, or giving truthful testimony or statements or other disclosures to a federal, state or local governmental or regulatory entity, in each case without having to disclose any such conduct to the other party, or from responding if properly subpoenaed or otherwise required to do so under applicable law.  
		

		
			 
		

		
			7.This Release and the Agreement are the entire agreement of the parties regarding the matters described in such agreements and supersede any and all prior and/or contemporaneous agreements, oral or written, between the parties regarding such matters.   In the event of a conflict between any other document or agreement and this Agreement, this Agreement governs.  This Release is governed by Illinois law, may be signed in counterparts, and may be modified only by a writing signed by all parties.
		

		
			 
		

		
			
		

		
			

		 

		

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			THE PARTIES STATE THAT THEY HAVE READ AND UNDERSTAND THE FOREGOING AND KNOWINGLY AND VOLUNTARILY INTEND TO BE BOUND THERETO:
		

		
			 
		

		
			MARTIN SONNTAGINGREDION INCORPORATED
		

		
			 
		

		
			 
		

		
			By:____/s/ Martin Sonntag________By: ___/s/ Elizabeth Adefioye______
		

		
			Elizabeth Adefioye
		

		
			Senior Vice President, Human Resources
		

		
			 
		

		
			Date:_________________________Date:_________________________
		

		
			
		

		 

		

			3ingr_Ex10_31

		

			

		

			 

		

			 

		

			 

		

			 

		
			 
		

		
			 
		

		
			 
		

		
			Ingredion Incorporated
		

		
			5 Westbrook Center
		

		
			Westchester, IL 60154
		

		
			United States
		

		
			 EXHIBIT 10.31
		

		
			January 11, 2018
		

		
			 
		

		
			Elizabeth Adefioye
		

		
			[Address Redacted] 

		

		
			 
		

		
			 
		

		
			Dear Elizabeth:
		

		
			 
		

		
			On behalf of Ingredion Inc., (“Company”), we are pleased to offer you the position of Senior Vice President and Chief Human Resources Officer reporting to the Chief Executive Officer with an effective date of March 1, 2018 (“Effective Date”).   The following compensation and benefits are being offered should you choose to accept this position: 
		

			
	
			
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			Base Salary:  You will receive a base salary (gross) at an annual rate of $410,000 in accordance with Ingredion’s US payroll procedures, which currently provide for semi-monthly payments,  on the 15th and the last day of the month.  Your base salary includes compensation for all time worked, as well as appropriate consideration for Company holidays and other time off.  Your base salary will be considered for adjustment as part of our normal year-end performance management and compensation process.  Your next salary review and adjustment will be in February 2019.  Your position is grade level  O and is exempt.

			
	
			
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			Short-Term Incentive:  Your Annual Incentive Plan target eligibility will be increased to 65%.

			
	
			
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			Long-term Incentive:  Based on the level of this position, you will continue to be eligible to participate in Ingredion's Stock Incentive Plan. All awards granted as an eligible participant of this program are based on performance.  

			
	
			
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			US Benefit Package:  

			
	
			
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			You will continue to participate in the Company’s US-based Retirement Savings Plan for Salaried Employees (401k).  

			
	
			
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			You will continue to be eligible to participate in the U.S. medical, dental, life insurance and disability programs.  Any employee premiums due will be deducted directly from your salary.  

			
	
			
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			In addition, you will continue to follow the US vacation policy.  You will be eligible for 4 weeks of vacation and two floating holidays per year.

			
	
			
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			Executive Perquisites:

			
	
			
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			Company car allowance of $15,000 per annum will be paid through U.S. payroll.

			
	
			
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			You will be eligible for a financial advisory perquisite reimbursement of up to $5,500 and an annual executive physical.

			
	
			
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			You will continue to be eligible for the Ingredion Incorporated Supplemental Executive Retirement Plan (“SERP”). The SERP offers pretax deferrals of up to 20% of your salary 

		 

		

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	and up to 75% of your bonus, and it restores savings and employer matching contributions which would otherwise be lost due to IRS limits.

		
			 
		

			
	
			
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			Stock Ownership Requirements

			
	
			
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			You are now subject to a stock ownership requirement of three-times-base-salary and have five years to achieve this level.

			
	
			
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			Share ownership for this purpose includes direct and indirect ownership of common stock, including restricted stock and shares held through the Ingredion 401(k) plan, RSUs and phantom stock units held in the SERP. Stock options and unvested performance shares are not included in ownership for this purpose.

			
	
			
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			Please note that unless or until the ownership requirement has been achieved, you are not permitted to sell shares of common stock other than to fund the payment of the exercise price of options or to fund the payment of taxes upon the exercise of options or vesting of restricted stock units (“RSUs”) or shares of restricted stock.

			
	
			
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			Confidentiality and Intellectual Property Rights and Non-Competition Agreements 

			
	
			
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			The terms and conditions of this offer remain contingent upon your agreement to the Restrictive Covenants contained in the form of Executive Severance Agreement provided by the Company, the terms and conditions of which shall be deemed incorporated herein by reference, but which shall survive termination of your employment in accordance with its terms.

			
	
			
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			This letter of agreement and the Executive Severance Agreement shall constitute the entire agreement and understanding with respect to the matters described herein, and supersede any and all prior and/or contemporaneous agreements and understandings, oral or written.   

		
			Nothing stated in this letter nor in any of our prior communications constitutes, or may be construed as, a commitment to, or contract of or for, employment for any specific duration.  Your employment with the Company will be “at will,” which means you may leave the Company, or the Company may require you to leave its employ, for any reason, at any time, except as otherwise provided by law.  This at-will relationship will remain in effect throughout your employment with the Company and any of its successors, affiliates or related entities, unless it is modified by a specific, express, written employment contract which is signed by you and an authorized executive of the Company.
		

		
			 
		

		
			Please indicate your acceptance by returning a signed copy of this letter to me at your earliest convenience.
		

		
			 
		

		
			Sincerely,
		

		
			 
		

		
			/s/ James P. Zallie
		

		
			James P. Zallie
		

		
			President and Chief Executive Officer 
		

		
			 
		

		
			 
		

		
			I accept the terms and conditions set forth in this letter.
		

		
			 
		

		
			Signature: /s/ Elizabeth Adefioye_________________________ Date: _1/16/18__________
		

		
			                 Elizabeth Adefioye
		

		 

		

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