Document:

Exhibit 4.3

  

   

    

   

  

  
    

  

  

  

  TORM plc

    2020 MANAGEMENT LONG-TERM INCENTIVE PLAN

  
    
      
        Section 1.   Purpose.

        Section 1.1   TORM plc, company registration number 09818726 ("TORM), an English company has adopted this
          management incentive plan (the "Plan") to increase shareholder value and to advance the interests of TORM and its subsidiaries by providing share-based or cash-based
          economic incentives (the "Incentives") designed to attract, retain, reward, and motivate key employees of TORM and its subsidiaries and to strengthen the mutuality of
          interests between those service providers and TORM's shareholders.

        Section 1.2   Under the Plan, Incentives consist of opportunities (a) to purchase or receive A Shares of a
          nominal value of US$ 0.01 of TORM (the "A Shares") or Depositary Interests, (b) to earn cash awards valued in relation to A Shares, or (c) to earn other cash-based
          performance awards, in each case on terms determined under the Plan.

        Section 2.   Certain Definitions.

        Section 2.1   As used herein, the following words or terms shall have the meanings below:

        (a)    "Adoption Date" shall mean
          the date of the Committee's adoption of the Plan.

        (b)    "Affiliate" (and variants
          thereof) shall mean a Person that controls, or is controlled by, or is under common control with, another specified Person, either directly or indirectly.

        (c)    "Beneficial Owner" (and
          variants thereof), with respect to a security, shall mean a Person who, directly or indirectly (through any contract, understanding, relationship or otherwise), has or shares (i) the power to vote, or direct the voting of, the security, and/or
          (ii) the power to dispose of, or to direct the disposition of, the security or the traded interest in that security.

        (d)    "Business Reorganisation"
          shall mean the consummation of a reorganization, merger or consolidation (including a merger or consolidation of TORM or any direct or indirect subsidiary thereof), or sale or other disposition of all or substantially all of the assets, of the
          Group.

        (e)    "Change of Control" has the
          meaning given to it in Section 12.

         

        

        
          
            

        

        
         

        

        (f)    "Change of Control Value"
          shall equal the amount determined by whichever of the following items is applicable:

        (i)    the price per share to be paid to TORM's shareholders in the relevant transaction;

        (ii)    the price per share offered to TORM's shareholders in any tender offer or exchange offer whereby a
          Change of Control takes place;

        (iii)    in all other events, the Fair Market Value (as defined in Section 13.8) per A Share, as determined by
          the Committee as of the date determined by the Committee to be the date of conversion of such options or exercise of instruments; or

        (iv)    in the event that the consideration offered to TORM's shareholders in any Change of Control transaction
          consists of anything other than cash, the Committee shall determine the fair cash equivalent of the portion of the consideration offered that is other than cash.

        (g)    "Committee" has the meaning
          given to it in Section 3.1.

        (h)    "Depositary" means
          Computershare DR Nominees Limited, as nominee for Computershare Trustees (Jersey) Limited or another depositary approved by the Committee that will act as depositary for the purposes of holding A Shares and allowing Depositary Interests to be
          held by Persons and, if either (i) the relevant A Shares are not subject to transfer restrictions or (ii) on cessation of all transfer restrictions applicable to A Shares represented by such Depositary Interests (or, if earlier, when the relevant
          A Shares are covered by an effective registration statement filed with the U.S. Securities and Exchange Commission or on the sale of the relevant A Shares pursuant to an exemption from applicable transfer restrictions), Cede & Co. as nominee
          for the Depositary Trust Corporation ("DTC").

        (i)    "control" (and variants
          thereof) shall mean, with respect to any Person, the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities, by contract or
          otherwise.  A general partner, manager or adviser is deemed to control a limited partnership.

        (j)    "Depositary Interests" means
          either depositary receipts in respect of A Shares issued by Computershare Trustees (Jersey) Limited or book entry interests in A Shares allocated by DTC as the context requires (and, for the avoidance of doubt, excludes CREST depository
          interests).

        (k)    "Fair Market Value" has the
          meaning given in Section 13.8.

         (l)    "Immediate Family Members"
          of a Plan participant shall be defined as the spouse and natural or adopted children or grandchildren of the participant and their spouses.

         

        

        
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        (m)    "Person" shall mean a natural
          person or company, and shall also mean the group or syndicate created when two or more Persons act as a syndicate or other group (including, without limitation, a partnership or limited partnership) for the purpose of acquiring, holding, or
          disposing of a security, except that Person shall not include an underwriter temporarily holding a security pursuant to an offering of the security.  References to a Person in the Plan include successors and assigns of such Person.

        (n)    "Successor Corporation" shall
          mean a corporation that is a successor holding company of the Group in place of TORM or a preceding successor corporation, as a result of a Business Reorganisation or other transaction or series of transactions, and excluding for the avoidance of
          doubt, an entity in the Sponsor Group.

        (o)    "Sponsor Group" means OCM
          Njord Holdings S.à r.l. and its Affiliates, excluding TORM or any other Successor Corporation and their respective subsidiaries.

        Section 3.   Administration.

        Section 3.1   Composition.  The Plan
          shall generally be administered by the board of directors of TORM or by a subcommittee thereof to whom such board of directors may delegate all or part of its authority in respect of the Plan from time to time (collectively, the "Committee"). In any event, the board of directors of TORM has the ultimate decision making authority in respect of the Plan,

        Section 3.2   Authority.  The
          Committee shall have full power and authority to administer the Plan, including awarding Incentives under the Plan and entering into agreements with, or providing notices to, participants as to the terms of the Incentives (the "Incentive Agreements"). Specifically, the Committee thereof shall have full and final authority and discretion over the Plan and any Incentives granted under it, including, but
          not limited to, the right, power, and authority, to: (a) determine the Persons to whom Incentives will be granted under Section 4 and the time at which such Incentives will be granted; (b) subject to Section 7.9, determine the terms, provisions,
          and conditions of each Incentive (including, if applicable, the number of A Shares or Depositary Interests covered by the Incentive), which need not be identical and need not match any default terms set forth in the Plan; (c) subject to Section
          7.9, amend any outstanding Incentives or accelerate the time at which any outstanding Incentives may vest; (d) correct any defect, supply any omission, or reconcile any inconsistency in the Plan or any Incentive in the manner and to the extent it
          deems necessary or desirable to further the Plan's objectives; (e) establish, amend, and rescind any rules or regulations relating to administration of the Plan that it determines to be appropriate; (f) resolve all questions of interpretation or
          application of the Plan or Incentives granted under the Plan; (g) determine any matters for the purposes of Section 12.2; (h) implement an adjustment to the Plan or the Incentives pursuant to Section 13.5; or (i) make any other determination that
          it believes necessary or advisable for the proper administration of the Plan.  Committee decisions in matters relating to the Plan shall be final, binding, and conclusive on all Persons, including the Group and Plan participants.

        
          Section 4.   Eligible Participants.  Key employees of the Group shall become eligible to receive Incentives under the
            Plan when designated by the Committee.

          Section 5.   Types of Incentives.  Incentives may be granted under the Plan to eligible participants in the form of
            (a) share options, (b) share appreciation rights ("SARs"), (c) restricted shares, (d) restricted share units ("RSUs"),
            (e) Other Share-Based Awards (as defined in Section 10), or (f) Cash-Based Performance Awards (as defined in Section 11).  Any entitlement to A Shares under this Plan may be, at the discretion of the Committee, a right to be issued with an A
            Share or a Depositary Interest which is held by a Depositary.

        

         

        

        
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        Section 6.   Shares Subject to the Plan.
        Section 6.1   Percentage of Shares. 
          Subject to adjustment as provided in Section 13.5, the maximum percentage of A Shares (together with Depositary Interests) that may be delivered to participants and their permitted transferees under the Plan is expected to be up to 7% of TORM's
          share capital from time to time.

        Section 6.2   Share Counting.  Any A
          Shares subject to an Incentive that is subsequently canceled, forfeited, or expires prior to exercise or realization, whether in full or in part, shall be available again for issuance or delivery under the Plan.  Notwithstanding the foregoing,
          however, A Shares subject to an Incentive under the Plan shall not be available again for issuance or delivery under the Plan if such A Shares were (a) tendered in payment of the Exercise Price, or (b) covered by, but not issued upon settlement
          of, share-settled SARs.

        Section 6.3   Minimum Vesting Requirements.

        (a)    Incentives granted under the Plan may have minimum vesting schedules as prescribed by the Committee.

        (b)    No minimum vesting period applies to (i) A Shares or Depositary Interests issued or allocated in
          payment of cash amounts earned under the Group's annual incentive plans; or (ii) A Shares or Depositary Interests issued or allocated in settlement of a Cash-Based Performance Award granted under Section 11 prescribed by the Committee.

        Section 6.4   Type of A Shares.  To
          the extent permitted by applicable law, A Shares (or Depositary Interests) issued under the Plan may be made available from authorized and previously unissued shares or previously issued shares held as treasury shares or shares held through an
          employee benefit trust.

        
          Section 7.   Share Options and Share Appreciation Rights.

          Section 7.1   Grant of Appreciation Awards.  The Committee may grant appreciation awards in the
            form of share options or share appreciation rights as provided in this Section 7.

          (a)    A share option is a right to acquire A Shares (or Depositary Interests) from TORM or an employee benefit trust established by TORM.

          (b)    A SAR is a right to receive, without payment to TORM, a number of A Shares, Depositary Interests, cash, or any combination thereof (as specified in the applicable
            Incentive Agreement), and the number or amount of which is determined pursuant to the formula set forth in Section 7.6(c).

          (c)    Each share option or SAR granted by the Committee under the Plan shall be subject to the terms and conditions of the Plan, including but not limited to, this Section
            7, and the applicable Incentive Agreement.

        

        Section 7.2   Exercise Price.  The
          exercise price per A Share (the "Exercise Price") of a grant of options or SARs shall be determined by the Committee at grant, subject to adjustment under Section 12.2 or
          Section 13.5.

        Section 7.3   Number.  The number of
          A Shares subject to each grant of share options or SARs shall be determined by the Committee, subject to Section 6 and adjustment as provided in Section 12. 2 or Section 13.5.

         

        

        
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        Section 7.4   Vesting and Exercisability. 
          Subject to Section 6.3, at the time an award of share options or SARs is made, the Committee shall establish the time or times at which the Incentive shall vest and become exercisable.  Each award of share options or SARs may have a different
          vesting period.  An acceleration of the vesting period shall occur (a) as provided under Section 13.3 in the event of termination of employment under the circumstances as may be provided in the Incentive Agreement and (b) unless otherwise
          provided in the Incentive Agreement, as described in Section 12 in the event of a Change of Control.

        Section 7.5   Term.  The term of
          each share option or SAR shall be determined by the Committee, but shall not exceed a maximum term of 10 years.

        Section 7.6   Manner of Exercise.

        (a)    Each share option may be exercised, in whole or in part, by giving written notice to TORM, specifying
          the number of A Shares to be purchased.  The exercise notice shall be accompanied by the aggregate Exercise Price due for the A Shares to be purchased.  The aggregate Exercise Price shall be payable in Danish kroner or in another currency as
          determined by the Committee and may be paid (i) in cash; (ii) by check; (iii) except as may be prohibited by applicable law, by delivery, or attestation of ownership in accordance with procedures established by the Committee, of A Shares (or
          Depositary Interests), which A Shares shall be valued for this purpose at the Fair Market Value on the business day preceding the date on which TORM received notice of exercise; (iv) except as may be prohibited by applicable law, by delivery of
          irrevocable written instructions to a broker approved by TORM (with a copy to TORM) to immediately sell a portion of the A Shares issuable under the option (or the relevant Depositary Interest) and to deliver promptly to TORM the amount of sale
          proceeds (or loan proceeds if the broker lends funds to the participant for delivery to TORM) to pay the aggregate Exercise Price; (v) if approved by the Committee at its sole discretion and subject to any requirements the Committee may deem fit
          to impose, through a net exercise procedure whereby the optionee surrenders the option in exchange for that number of A Shares (or Depositary Interests) with an aggregate Fair
          Market Value equal to the difference between the aggregate Exercise Price of the options being surrendered and the aggregate Fair Market Value of the A Shares subject to the option on the business day preceding the date on which TORM received
          notice of exercise; or (vi) in such other manner as may be authorized from time to time by the Committee.

        (b)   A SAR may be exercised, in whole or in part, by giving written notice to TORM, specifying
            the number of SARs that the holder wishes to exercise.  TORM shall, within 30 days of receiving such notice, deliver to the holder, the A Shares (or Depositary Interests), cash, or combination of A
            Shares (or Depositary Interests) and cash to which the holder is entitled as provided in the Incentive Agreement, calculated as provided in Section 7.6(c).

        (c)   If the SAR is payable in cash, then the holder is entitled to a cash payment equal to the appreciation
          value of the number of A Shares as to which the SAR is being exercised, calculated by (i) subtracting the Exercise Price of the SAR from the Fair Market Value of an A Share on the business day preceding the date on which TORM received notice of
          exercise then (ii) multiplying by the number of A Shares as to which the SAR is being exercised (such value, the "Appreciation").  If the SAR is payable in A Shares (or Depositary Interests), then the holder is entitled to receive a number of A Shares (or Depositary Interests) equal to the Appreciation divided by the Fair Market Value of an A Share on the business day preceding the
          date on which TORM received notice of exercise, rounded down to the next whole share, with cash paid in lieu of fractional shares.

        Section 7.7   No Dividend Equivalent Rights. 
          Participants shall not be entitled to any dividend equivalent rights (or rights in respect of any other distributions made by TORM) for any period of time prior to exercise of the Incentive.

         

        

        
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        Section 7.8   Cancellation.  Upon
          approval of the Committee, and except as may be prohibited by applicable law, TORM may cancel a previously-granted share option or SAR by mutual agreement with
          the participant prior to exercise by payment to the holder of the amount per A Share by which: (a) the Fair Market Value of an A Share on the trading day immediately preceding the date of cancellation exceeds (b) the Exercise Price, or by payment
          of such other mutually agreed upon amount; provided, however, that no
          such cancellation shall be permitted if prohibited by Section 7.9.

        Section 7.9   General Prohibition Against
              Repricing.  Except for adjustments pursuant to Section 13.5 or actions permitted to be taken by the Committee in the event of a Change of Control, unless approved by TORM's shareholders, (a) the Exercise Price of any outstanding
          option or SAR granted under the Plan may not be decreased after the date of grant and (b) an outstanding option or SAR that has been granted under the Plan may not, as of any date that such option or SAR has a per share Exercise Price that is
          greater than the then current Fair Market Value of an A Share, be surrendered to TORM as consideration for the grant of a new option or SAR with a lower Exercise Price, restricted shares, RSUs, an Other Share-Based Award, a cash payment, or
          Depositary Interests.

        Section 7.10  Securities Law Restrictions. 
          By acquiring A Shares (or interests in A Shares) pursuant to the exercise of a share option or SAR, the relevant participant agrees and acknowledges that those A Shares (or Depositary Interests) may be subject to U.S. securities laws restrictions
          on the transfer of such A Shares (or Depositary Interests) and that the relevant A Shares may be issued to the Depositary and depositary receipts in respect of them may be issued by the Depositary.  Each certificate for A Shares (and Depositary
          Interests) shall bear the following legend:

        "The shares of common stock represented hereby have not been registered
          under the Securities Act of 1933, as amended (the "Act"), or any state securities laws, and may not be sold, assigned, transferred, pledged, hypothecated or otherwise disposed of in the absence of (i) an effective registration statement under the
          Act and compliance with applicable state securities laws or (ii) an applicable exemption therefrom and an opinion of counsel satisfactory to the issuer that such registration is not required."

        Alternatively, where, in the discretion of the Committee, no physical
          certificates are issued, the appropriate restrictions may be reflected in the records of TORM's transfer agent and/or the Depositary.

        Section 8.   Restricted Shares.

        Section 8.1   Grant of Restricted Shares. 
          The Committee may award restricted shares to such eligible participants as provided in this Section 8.  An award of restricted shares shall be subject to such restrictions on transfer, forfeitability provisions, and such other terms and
          conditions, including the attainment of specified performance goals, as the Committee may determine, subject to the provisions of the Plan and applicable law.  Restricted shares may, at the absolute discretion of the Committee, be awarded by way
          of issue of restricted shares to a Depositary and the issue or allocation by the Depositary of Depositary Interests to the relevant participant, such Depositary Interests being subject to like restrictions as the restricted shares.

         Section 8.2   The Restricted Period. 

          Subject to Section 6.3, at the time an award of restricted shares is made, the Committee shall establish the period of time during which the shares are restricted (the "Restricted
              Period"), following which the restrictions shall lapse and the restricted shares shall vest.  Each award of restricted shares may have a different Restricted Period.  The expiration of the Restricted Period shall occur (a) as
          provided under Section 13.3 in the event of termination of employment under the circumstances as may be provided in the Incentive Agreement and (b) unless otherwise provided in the Incentive Agreement, as described in Section 12 in the event of a
          Change of Control.

         

        

        
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        Section 8.3   Escrow.  The
          participant receiving restricted shares shall enter into an Incentive Agreement with TORM setting forth the conditions of the grant.  At the direction of the Committee certificates, if issued, representing restricted shares or Depositary
          Interests in restricted shares may (at the sole discretion of the Committee) be registered in the name of the Depositary or participant and deposited with TORM, together with a stock power endorsed in blank by the participant.  Each such
          certificate may bear legends in substantially the following form:

        "The transferability of this certificate and the securities represented
          by it are subject to the terms and conditions (including conditions of forfeiture) contained in the TORM plc 2020 management incentive plan (the "Plan"), and an agreement
          entered into between the beneficial owner and TORM plc ("TORM") thereunder.  Copies of the Plan and the agreement are on file at the principal office of TORM."; and

        "The shares of common stock represented hereby have not been registered
          under the Securities Act of 1933, as amended (the "Act"), or any state securities laws, and may not be sold, assigned, transferred, pledged, hypothecated or otherwise disposed of in the absence of (i) an effective registration statement under the
          Act and compliance with applicable state securities laws or (ii) an applicable exemption therefrom and an opinion of counsel satisfactory to the issuer that such registration is not required."

        Alternatively, in the discretion of the Committee, ownership of the restricted shares or Depositary Interests in
          restricted shares and the appropriate restrictions may be reflected in the records of TORM's transfer agent and/or the Depositary and no physical certificates may be issued. In such case, restricted shares shall be issued to and held by the
          Depositary which will issue Depositary Interests to the participant or to an employee benefit trust established by the Company or Subsidiary or another nominee (as determined by the Committee), in each case on behalf of the participant.

        Section 8.4   Dividends on Restricted Shares. 
          Any and all cash and share dividends and other distributions paid with respect to the restricted shares shall be subject to any restrictions on transfer, forfeitability provisions, or reinvestment requirements as the Committee may, in its
          discretion, prescribe in the Incentive Agreement.

        Section 8.5   Forfeiture.  In the
          event of the forfeiture of any restricted shares or Depositary Interests under the terms provided in the Incentive Agreement (including any additional shares or Depositary Interests that may result from the reinvestment of cash and share
          dividends, if so provided in the Incentive Agreement), such forfeited shares shall be surrendered and any certificates cancelled.  The participants shall have the same rights and privileges, and be subject to the same forfeiture provisions, with
          respect to any additional shares received pursuant to Section 13.5.

        Section 8.6   Expiration of Restricted Period. 
          Upon the expiration or termination of the applicable Restricted Period and the satisfaction of any other conditions prescribed by the Committee, the restrictions applicable to the restricted shares shall lapse and TORM shall direct the transfer
          agent to remove all restrictions and legends from the book entry for the vested shares and/or Depositary Interests, except for any restrictions and legends that may be imposed by law or regulations.

         

        

        
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        Section 8.7   Rights as a Shareholder. 
          Subject to the terms and conditions of the Plan and any restrictions on the receipt of dividends and other distributions that may be imposed in the Incentive Agreement, each participant who is registered as the owner of restricted shares shall
          have all the rights of a shareholder with respect to shares during the Restricted Period, including without limitation, the right to vote such shares.  Each participant who receives Depositary Interests instead of restricted shares agrees that
          the Depositary will be the legal owner of the restricted shares and, accordingly, the participant will not have the rights conferred on shareholders by TORM's articles of association or under applicable law. As the legal owner of those restricted
          shares, the Depositary will be entitled to enjoy and exercise all of the rights attached to the restricted shares, provided that, similar to other securities held by depositaries, the Depositary will grant contractual rights to the holders of the
          Depositary Interests substantially equivalent in effect to the rights attached to the A Shares but not directly enforceable against TORM (subject to compliance with the depositary agreement and applicable law and regulations). Accordingly, the
          Employee's ability to exercise shareholder rights in respect of restricted shares will be determined by the agreements between TORM and the Depositary.

        Section 9.   Restricted Share Units.

        Section 9.1   Grant of Restricted Share Units. 
          A restricted share unit, or RSU, represents the right to receive from TORM on the respective scheduled vesting or settlement date for such RSU one A Share (or a Depositary Interest in respect of one A Share).  An award of RSUs may be subject to
          the attainment of specified performance goals or targets, forfeitability provisions, and such other terms and conditions as the Committee may determine, subject to the provisions of the Plan. If decided at the Committee's discretion from time to
          time or in relation to specific Persons to grant RSUs, RSUs are intended to be granted annually. No grant of RSUs in one instance shall automatically entitle any Person to receive grants at any subsequent time.

        Section 9.2   Vesting and Settlement. 
          Subject to Section 6.3, at the time an award of RSUs is made, the Committee shall establish the period of time during which the RSUs shall vest and when the RSUs may settle. Settlement may be in A Shares or in Depositary Interests at the
          Committee's discretion.  Each award of RSUs may have a different vesting or settlement period.  An acceleration of the vesting and settlement may occur (a) as provided under Section 13.3 in the event of termination of employment under the
          circumstances as may be provided in the Incentive Agreement and (b) unless otherwise provided in the Incentive Agreement, as described in Section 12 in the event of a Change of Control.

        Section 9.3   Dividend Equivalent Accounts. 
          Subject to the terms and conditions of the Plan and the applicable Incentive Agreement, as well as any procedures established by the Committee, prior to the vesting and settlement of RSUs granted under the Plan, the Committee may determine to pay
          dividend equivalent rights (or rights to other distributions made by TORM) with respect to RSUs, in which case, unless determined by the Committee to be paid currently, TORM shall establish a bookkeeping account for the  participant and reflect
          in that account any securities, cash, or other property comprising any dividend or property distribution with respect to each A Share underlying each RSU.  The participant shall have no rights to the amounts or other property credited to such
          account except to the extent provided in the Incentive Agreement.

         

        

        
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        Section 9.4   Rights as a Shareholder. 
          Subject to the restrictions imposed under the terms and conditions of the Plan and any other restrictions that may be imposed in the Incentive Agreement, each participant receiving RSUs shall have no rights as a shareholder with respect to such
          RSUs until such time as the RSUs vest and A Shares are issued to the participant.  Each participant who receives Depositary Interests instead of A Shares agrees that the Depositary will be the legal owner of the A Shares and, accordingly, the
          participant will not have the rights conferred on shareholders by TORM's articles of association or under applicable law. As the legal owner of those restricted shares, the Depositary will be entitled to enjoy and exercise all of the rights
          attached to the A Shares, provided that, similar to other securities held by depositaries, the Depositary will grant contractual rights to the holders of the Depositary Interests substantially equivalent in effect to the rights attached to the A
          Shares but not directly enforceable against TORM (subject to compliance with the depositary agreement and applicable law and regulations). Accordingly, the participant's ability to exercise shareholder rights in respect of A Shares will be
          determined by the agreements between TORM and the Depositary.

        Section 10. Other Share-Based Awards.

        Section 10.1  Grant of Other Share-Based Awards. 
          Subject to the limitations described in Section 10.2 hereof, the Committee may grant to eligible participants other share-based awards, which shall consist of awards (other than options, SARs, restricted shares, RSUs, or Cash-Based Performance
          Awards described in Section 7 to Section 9 and Section 11) paid out in A Shares (or Depositary Interests) or the value of which is based in whole or in part on the value of A Shares ("Other
              Share-Based Awards").  Other Share-Based Awards may be awards of A Shares (or Depositary Interests), awards of phantom shares, or may be denominated or payable in, valued in whole or in part by reference to, or otherwise based on
          or related to, shares of, or appreciation in the value of, A Shares (including, without limitation, securities convertible or exchangeable into or exercisable for A Shares (or Depositary Interests), as deemed by the Committee consistent with the
          purposes of the Plan.  The Committee shall determine the terms and conditions of any Other Share-Based Award (including which rights of a shareholder, if any, the recipient shall have with respect to A Shares (or Depositary Interests) associated
          with any such award) and may provide that such award is payable in whole or in part in cash.  An Other Share-Based Award may be subject to the attainment of such specified performance goals or targets as the Committee may determine, subject to
          the provisions of the Plan.

        Section 10.2  Vesting.  Subject to
          Section 6.3, at the time that an Other Share-Based Award is made, the Committee shall establish the period of time during which the Other Share-Based Award shall vest and following which all restrictions shall lapse.  Each award of Other
          Share-Based Award may have a different vesting period.  An acceleration of the vesting period shall occur (a) as provided under Section 13.3 in the event of termination of employment under the circumstances as may be provided in the Incentive
          Agreement and (b) unless otherwise provided in the Incentive Agreement, as described in Section 12 in the event of a Change of Control.

         

        

        
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        Section 11.  Cash-Based Performance Awards.  The
          Committee may grant Incentives in the form of cash-based performance awards to eligible participants, which shall consist of the opportunity to earn awards based on performance and valued in Danish kroner (or in another currency as determined by
          the Committee) rather than A Shares (or Depositary Interests) ("Cash-Based Performance Awards").  At the Committee's election and as provided in the Incentive Agreement,
          Cash-Based Performance Awards may be settled in cash, A Shares (or Depositary Interests), or a combination of them. A Cash-Based Performance Award shall be subject to such terms and conditions, including the attainment of specified performance
          goals, as the Committee may determine, subject to the provisions of the Plan.  Subject to Section 6.3, at the time that a Cash-Based Performance Award is granted, the Committee shall establish the vesting criteria for such Incentive, including,
          as applicable, the performance period, the time or times at which any payout shall be deemed vested and payable.  An acceleration of vesting shall occur (a) as provided under Section 13.3 in the event of termination of employment under the
          circumstances as may be provided in the Incentive Agreement and (b) unless otherwise provided in the Incentive Agreement, as described in Section 12 in the event of a Change of Control.

        Section 12. Change of Control.

        Section 12.1  Change of Control Defined. 
          Unless otherwise provided in an Incentive Agreement, "Change of Control" shall mean:

        (a)    A transaction or series of transactions, including a Business Reorganisation, that results in:

        (1)    the Sponsor Group holding Beneficial Ownership of less than 1/3 of the issued and outstanding
          A Shares or common stock in TORM or the Successor Corporation (as applicable); AND

        (2) the acquisition by any Person (other than the Sponsor Group) of Beneficial Ownership of 1/3 or more of the
          issued and outstanding A Shares or common stock in TORM or the Successor Corporation (as applicable); or

        (b)    approval by the shareholders of TORM or the Successor Corporation (as applicable) of a complete
          winding-up, liquidation or dissolution of TORM or the Successor Corporation (as applicable).

        Notwithstanding anything herein to the contrary, the following transactions shall not constitute a Change of
          Control: (i) a reorganization, merger or consolidation amongst members of the Group, (ii) any acquisition of A Shares (or Depositary Interests) by TORM or its subsidiaries, (iii) any acquisition of A Shares (or Depositary Interests) by any
          employee benefit plan (or related trust) sponsored or maintained by the Group, (iv) a reincorporation or redomiciliation of a member of the Group in a different jurisdiction, or (v) changes to the Group's holding structure, a listing of a member
          of the Group or any other transaction, in each case, in which there is no substantial change in the Beneficial Ownership of the Group. See also Section 13.5 (Adjustment)
          below.

         

        

        
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        Section 12.2  Effect of a Change of Control.

        (i)   Except as otherwise provided in an Incentive Agreement and notwithstanding any other provision of the
          Plan, in the event of a Change of Control, all outstanding Incentives shall, as determined by the Committee in its sole discretion:

        (ii)   be assumed or an equivalent award shall be substituted by the successor corporation or a parent or
          subsidiary of such successor corporation, or

        (iii)   become vested and immediately and fully exercisable, during such period immediately prior to such
          Change of Control as may be determined by the Committee, and all forfeiture restrictions shall be waived, or

        (b)   For the purposes of this Section, the Incentive shall be considered assumed or substituted if, following
          the transaction, the Incentive confers the right to purchase or receive, for each A Share or Depositary Interest subject to the Incentive immediately before the transaction, the consideration (whether stock, other securities or property) received
          in the transaction by Beneficial Owners of A Shares for each A Share or Depositary Interest beneficially owned on the effective date of the transaction (and if holders were offered a choice of consideration, the type of consideration chosen by
          the Beneficial Owners of a majority of the outstanding A Shares or Depositary Interests, pursuant to the transaction (but not any statutory squeeze out or other procedure resulting from the transaction) but for those purposes ignoring those
          Beneficial Owners who are not entitled to elect for certain types of consideration for legal or regulatory reasons); provided, however, that if such consideration received in the transaction is not solely common stock of the successor
          corporation, its parent or subsidiary, then the Committee may, with the consent of the successor corporation, its parent or subsidiary, provide for the consideration to be received upon the exercise of the Incentive, for each A Share or
          Depositary Interest, subject to the Incentive, to be solely common stock of the successor corporation its parent or subsidiary, equal in Fair Market Value to the per share consideration received by holders of A Shares in the transaction.

        Section 13. General.

        Section 13.1  Duration.  No
          Incentives may be granted under the Plan after the date that is 10 years following the Adoption Date; provided, however, that the Plan shall remain in effect after such date with respect to Incentives granted prior to that date, until all such Incentives have either been satisfied by the issuance of A Shares (or
          Depositary Interests) or otherwise been terminated under the terms of the Plan and all restrictions imposed on A Shares (or Depositary Interests) in connection with their issuance under the Plan have lapsed.

         

        

        
          11

          
            

        

        Section 13.2  Transferability.  No
          Incentives granted hereunder may be transferred, pledged, assigned or otherwise encumbered by a participant, except: (a) by will; (b) by the laws of descent and distribution; or (c) if permitted by the Committee (i) to Immediate Family Members,
          (ii) to a partnership in which the participant and/or Immediate Family Members, or entities in which the participant and/or Immediate Family Members are the sole owners, members or beneficiaries, as appropriate, are the sole partners, (iii) to a
          limited liability company in which the participant and/or Immediate Family Members, or entities in which the participant and/or Immediate Family Members are the sole owners, members or beneficiaries, as appropriate, are the sole members, or (iv)
          to a trust for the sole benefit of the participant and/or Immediate Family Members. Any attempted assignment, transfer, pledge, hypothecation or other disposition of Incentives, or levy of attachment or similar process upon Incentives not
          specifically permitted herein, shall be null and void and without effect.

        Section 13.3  Effect of Termination of
              Employment or Death.  In the event that a participant ceases to be an employee of the Group or to provide services to the Group for any reason, including death, disability, early retirement, or normal retirement, any Incentives may
          be exercised, shall vest, or shall expire at such times as may be determined by the Committee and provided in the Incentive Agreement (in compliance with applicable law).

        Section 13.4  Additional Conditions. 
          Anything in the Plan to the contrary notwithstanding, TORM shall have no obligation to issue any Incentives or A Shares (or Depositary Interests) pursuant to the Plan unless the issuance and delivery of such Incentives or A Shares (or Depositary
          Interests) complies with all applicable laws, regulations of governmental authority and the requirements of any securities exchange on which the Incentives or A Shares (or Depositary Interests) may then be listed. The Committee may require, as a
          condition to the issuance of Incentives or A Shares (or Depositary Interests), that the participant make such covenants, agreements and representations, and that any certifications representing the Incentives bear such legends, as the Committee
          deems necessary or desirable.

        Section 13.5  Adjustment.

        (a)    Notwithstanding anything to the contrary herein, in the event of any transaction or series of
          transactions resulting in a change in the Group's holding structure or change in the outstanding share capital of TORM after the Adoption Date by reason of reorganization, recapitalization, reclassification, redomiciliation, stock dividend, stock
          split, stock issuance, combination of shares, stock exchange, corporate exchange or Business Reorganisation or other similar transaction which does not constitute a Change of Control under Section 12.1(a), including for the avoidance of doubt, a
          Business Reorganisation whereby a Successor Corporation of the Group is established through which the Sponsor Group holds at least an equivalent economic interest in the Group as it currently holds through TORM, the Committee at its discretion
          and without liability to any Person shall make such substitution or adjustment as it deems to be equitable, as to (i) the number or kind of shares or other securities issued or to be issued pursuant to the Plan or pursuant to outstanding
          Incentives, including to substitute Incentives existing prior to the transaction with substantially the same rights in such acquiring Successor Corporation (ii) the strike price or exercise price of any Incentive, or (iii) any other affected
          terms of the Plan or an Incentive.

         

        

        
          12

          
            

        

        (b)    Without prejudice to the generality of the foregoing, the Committee may at its discretion determine that
          following any applicable transaction described in this section, an Incentive shall confer the right to purchase or receive, for each A Share (or Depositary Interests) subject to the Incentive immediately before the transaction, the consideration
          (whether stock, other securities or property) received in the transaction by holders of A Shares (or Depositary Interests) for each A Share (or Depositary Interest) held on the effective date of the transaction (and if holders were offered a
          choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding A Shares (or Depositary Interests), pursuant to the transaction (but not any statutory squeeze out or other procedure resulting from the
          transaction); provided, however, that if such consideration received in the transaction is not solely common stock of the successor corporation, its parent or subsidiary, then the Committee may, with the consent of the successor corporation, its
          parent or subsidiary, provide for the consideration to be received upon the exercise of the Incentive, for each A Share (or Depositary Interest in an A Share) subject to the Incentive, to be solely common stock of the successor corporation its
          parent or subsidiary, equal in Fair Market Value to the per share consideration received by holders of shares in A Shares in the transaction.

        (c)    No substitution or adjustment shall require the issuance of a fractional share under the Plan and the
          substitution or adjustment shall be limited by deleting any fractional share.

        Section 13.6  No Continued Employment. 
          No participant under the Plan shall have any right, because of his or her participation, to continue in the employ of the Group for any period of time or to any right to continue his or her present or any other rate of compensation.

        Section 13.7  Amendments to or Termination of
              the Plan.  The Committee may amend or discontinue the Plan at any time; provided, however, that to no such amendment may:

        (a)    materially revise the Plan without the approval of the shareholders to the extent such approval is
          required under applicable listing standards of any exchange on which A Shares (or Depositary Interests) are listed;

        (b)    amend Section 7.9 to permit repricing of options or SARs without the approval of shareholders; or

        (c)    materially impair, without the consent of the recipient, an Incentive previously granted, except that the
          Group retains all of its rights under Section 12.

        For the avoidance of doubt, nothing in this Section 13.7 shall impair the Committee's rights under Section 13.5.

        A material revision of the Plan as used in this Section 13.7 includes (1) except for adjustments permitted
          herein, a material increase to the maximum number of A Shares (or Depositary Interests) that may be issued through the Plan; (2) a material increase to the benefits accruing to participants under the Plan; (3) a material expansion of the classes
          of Persons eligible to participate in the Plan; (4) an expansion of the types of Incentives available for grant under the Plan; (5) a material extension of the term of the Plan; and (6) a material change that reduces the price at which A Shares
          (or Depositary Interests) may be offered through the Plan.

         

        

        
          13

          
            

        

        Section 13.8  Definition of Fair Market Value. 
          Whenever "Fair Market Value" of a member of the Group's shares are required to be determined for purposes of the Plan, it shall be determined in good faith by the
          Committee, and if such shares are listed, then, shall be based on the closing sale price on the applicable date (or if no sale of the shares shall have been made on that day, on the next preceding day on which there was a sale of the shares) on
          the consolidated transaction reporting system of the stock exchange with the greatest volume of trading in the Group's shares during the immediately preceding 90 days prior to the time of determination (as such volume is reported in any source
          the Committee deems reliable). The determination of the Committee shall be conclusive and binding on all Persons.

        Section 13.9  Sub-plans.  The
          Committee may establish sub-plans under the Plan for purposes of satisfying securities, tax, or other laws of various jurisdictions in which the Group intends to grant Incentives.  Any sub-plans shall contain such limitations and other terms and
          conditions as the Committee determines are necessary or desirable.  All sub-plans shall be deemed a part of the Plan, but any sub-plan shall apply only to the participants specified in that sub-plan, whether specified by individual name,
          job-title, classification, employer, or jurisdiction.

        Section 13.10 No Trust or Fund Created. 
          Neither the Plan nor any Incentive shall create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between the Group and a participant or any other Person.  To the extent that any Person acquires the right
          to receive payments from the Group pursuant to an Incentive, such right shall be no greater than the right of any unsecured general creditor of the Group.

        Section 13.11 Tax. Unless otherwise
          agreed in writing, the Group shall have the power and right to deduct or withhold from any amount payable to a participant under the Plan or otherwise, or require a participant to remit to the Group, an amount sufficient to satisfy any taxes
          employee national insurance contributions, social security charges (as applicable) or penalties required by applicable law or regulation to be paid (whether following withholding or otherwise) with respect to any taxable event arising as a result
          of the Plan. Unless otherwise agreed in writing, Plan participants are solely responsible and liable for the satisfaction of any tax liability, employee national insurance contributions, other social security charges (as applicable) or penalties
          that may arise in connection with Incentives and the Group shall not have any obligation to indemnify or otherwise hold any such Person harmless from any or all of such taxes, employee national insurance contributions, other social security
          charges (as applicable) or penalties.  The participant shall make all tax elections and filings required by applicable law or as reasonably required by the Committee within the time limits required by law and provide to the Group such information
          as it shall require for the purposes of fulfilling its obligations in respect of any such filings and elections. Unless otherwise agreed in writing, the participant shall indemnify the Group against, and shall pay to the Group, the full amount of
          any tax, employee national insurance contribution, any other social security charge or penalty arising from any Incentive within 90 days of that liability arising to the extent that the Group has not recovered such amounts from the participant by
          way of deduction or withholding from any other payment. Subject to applicable law and at its discretion, the Group shall have the power and right to transfer to the relevant employee social security liabilities of the applicable member of the
          Group.

         

        

        
          14

          
            

        

        Section 13.12 Offset. If a
          participant under the Plan becomes entitled to a cash payment under an Incentive, and if at such time, the participant has any outstanding debt, obligation or other liability representing an amount owed to the Group, then the Group, upon a
          determination of the Committee and to the extent permitted by applicable law, may offset such amount so owing against the amount of cash otherwise distributable.

        Section 13.13 Governing Law.  The
          Plan will be construed and administered in accordance with the laws of England and Wales, without giving effect to principles of conflict of laws and subject to the non-exclusive jurisdiction of the English courts.

        Section 13.14 Severability.  If any
          term or provision of the Plan shall at any time or to any extent be invalid, illegal, or unenforceable in any respect as written, in whole or in part, such provision shall be deemed modified or limited to the extent necessary to render it valid
          and enforceable to the fullest extent allowed by law.  Any such provision that is not susceptible of such reformation shall be ignored so as to not affect any other term or provision hereof, and the remainder of the Plan, or the application of
          such term or provision to Persons or circumstances other than those as to which it is held invalid, illegal or unenforceable, shall not be affected thereby and each term and provision of the Plan shall be valid and enforced to the fullest extent
          permitted by law.

        

        

         

       
      

         

       

      

       

     

    

   

  15Document

Exhibit 10.35

Beyond Meat

January 20, 2021
Stuart Kronauge
Dear Stuart:
    This letter (the “Agreement”) confirms the agreement between you and Beyond Meat, Inc. (the “Company”) regarding the end of your employment with the Company and the resolution of any disputes between us.
i.Separation Date. Your employment with the Company will end effective January 21, 2021 (the “Separation Date”). 
ii.Severance. Although you are not otherwise entitled to receive any severance from the Company, subject to, and in consideration for, your timely execution and non-revocation of this Agreement, and provided you comply with all of the terms and conditions of this Agreement, the Confidential Information and Invention Assignment Agreement that you entered into with the Company effective January 15, 2020 (“Confidentiality Agreement”) and all applicable Company policies, the Company will provide you with the severance set forth below.
a.Cash Severance. The Company will pay you a lump sum severance payment of $182,500.00, less all applicable withholdings and deductions, which will be paid to you on or before February 26, 2021.
b.COBRA.  If you elect to continue your medical, dental and/or vision insurance coverage under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”), the Company will pay the monthly premiums due for such COBRA coverage for you and, if applicable, for your dependents from the first date on which coverage is lost in connection with your employment with the Company (with any payments commencing after such date being made retroactively to such date) until the earliest of (i) the date that the Company has paid for 6 months of premiums for such COBRA coverage, (ii) the expiration of such COBRA continuation coverage, or (iii) the date when you (or, as applicable, your dependents) receive substantially equivalent health insurance coverage in connection with new employment or self-employment. Notwithstanding the foregoing, if the Company determines, in its sole discretion, at any time, that it cannot provide the foregoing COBRA benefit without potentially violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act) or having the COBRA benefit be subject to tax, the Company will, in lieu thereof, pay you an amount equal to such COBRA premium payment due for each month, as applicable, which payment will be taxable, less all applicable withholdings and required deductions, and will made at the time such COBRA premium payment would otherwise have been due to be paid to the applicable insurance company.
i.No Other Monies Owed. You acknowledge and agree that you have been timely paid all of your wages earned through the Separation Date. You acknowledge and agree that, prior to the execution of this Agreement, you were not entitled to receive any further payments or benefits from the Company, other than those required pursuant to the Company’s 401(k) plan and/or the COBRA and similar state law. You acknowledge that you have no unreimbursed business expenses. You agree that you did not suffer 

an injury covered by workers’ compensation in the course and scope of your employment with the Company.
ii.Equity. You acknowledge and agree that the Company previously granted to you one or more equity awards covering shares of the Company’s Common Stock pursuant to the Company’s 2011 Equity Incentive Plan, as amended and restated as the Company’s 2018 Equity Incentive Plan (the “Plan”). You acknowledge and agree that you have reviewed the information on your Company equity awards that is available through Benefits OnLine and that it accurately reflects the Company equity awards previously granted to you, and the terms applicable to your Company equity awards, including, without limitation, the number of shares subject to such equity awards that were vested (if any) as of your Separation Date. Your Company equity awards and the shares (if any) acquired pursuant to such equity awards will remain, as applicable, subject to the terms and conditions of any applicable stock option agreement, exercise agreement, restricted stock unit agreement, and the Plan (each of which shall remain in full force and effect and, together, are the “Equity Documents”). Please note that vested Company stock options generally expire if not exercised by the date that is 3 months following the Separation Date. Refer to Benefits OnLine and the applicable Equity Documents for the specific rules that apply to your Company stock options (if any). Unvested Company stock options and unvested Company restricted stock units will generally be forfeited in connection with your departure from the Company. You acknowledge and agree that, other than the vested portion of any Company stock options that are outstanding as of your Separation Date, you do not have any right to receive or otherwise acquire any Company securities, including, without limitation, any shares of the Company’s capital stock or any other options or other rights to purchase or receive shares of the Company’s capital stock, from the Company or any affiliate of the Company.
iii.Your General Release. In consideration for receiving the severance set forth herein, you hereby waive and release to the maximum extent permitted by applicable law any and all claims or causes of action, whether known or unknown, against the Company and/or its respective predecessors, successors, past, present or future subsidiaries, parent companies, affiliated companies, investors and related entities, as well as TriNet (collectively, including the Company, the “Entities”) and/or the Entities’ respective past, present or future insurers, officers, directors, agents, attorneys, employees, consultants, stockholders, assigns and employee benefit plans (collectively with the Entities, the “Released Parties”), with respect to any matter, including, without limitation, any matter related to your employment with the Company or the termination of that employment relationship. 
This waiver and release includes, without limitation, claims under the Employee Retirement Income Security Act (ERISA); WARN Act claims, claims for attorneys’ fees or costs; any and all claims for stock, stock options, restricted stock units or other equity securities of the Company; penalties claims; wage and hour claims; statutory claims; tort claims; contract claims; claims of wrongful discharge, constructive discharge, emotional distress, defamation, invasion of privacy, fraud, breach of contract, and breach of the covenant of good faith and fair dealing; discrimination, harassment and retaliation claims; and all other claims under applicable federal, state and local laws, ordinances and regulations.
You covenant not to sue the Released Parties for any of the claims released above, agree not to participate in any class, collective, representative, or group action that may include any of the claims released above, and will affirmatively opt out of any such class, collective, representative or group action. Further, you agree not to participate in, seek to recover in, or assist in any litigation or investigation by other persons or entities against the Released Parties, except as required by law. 
Nothing in this Agreement precludes you from participating in any investigation or proceeding before any government agency or body. However, while you may file a charge and participate in any such proceeding, by signing this Agreement, you waive any right to bring a lawsuit against the Released Parties and waive any right to any individual monetary recovery in any such proceeding or lawsuit. Nothing in this Agreement is intended to impede your ability to report possible securities law violations to the government or to receive a monetary award from a government administered whistleblower-award 

program. You do not need the prior authorization of the Company to make any such reports or disclosures or to participate or cooperate in any governmental investigation, action or proceeding, and you are not required to notify the Company that you have made such reports and disclosures or have participated or cooperated in any governmental investigation, action or proceeding. Nothing in this Agreement waives your right to testify or prohibits you from testifying in an administrative, legislative, or judicial proceeding concerning alleged criminal conduct or alleged sexual harassment when you have been required or requested to attend the proceeding pursuant to a court order, subpoena or written request from an administrative agency or the California state legislature.
This waiver and release covers only those claims that arose prior to your execution of this Agreement. The waiver and release does not apply to any claim which, as a matter of law, cannot be released by private agreement. If any provision of the waiver and release is found to be unenforceable, it shall not affect the enforceability of the remaining provisions and all remaining provisions shall be enforceable to the fullest extent permitted by law.
iv.Waiver of Unknown Claims. You understand and acknowledge that you are releasing potentially unknown claims, and that you may have limited knowledge with respect to some of the claims being released. You acknowledge that there is a risk that, after signing this Agreement, you may learn information that might have affected your decision to enter into this Agreement. You assume this risk and all other risks of any mistake in entering into this Agreement. You agree that this Agreement is fairly and knowingly made. 
In addition, you expressly waive and release any and all rights and benefits under Section 1542 of the Civil Code of the State of California (or any analogous law of any other state), which reads as follows: 
“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN BY HIM OR HER, would HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.”
v.ADEA Waiver: You acknowledge that you are knowingly and voluntarily waiving and releasing any rights you may have under the Federal Age Discrimination in Employment Act (“ADEA Waiver”) and that the consideration given for the ADEA Waiver is in addition to anything of value to which you are already entitled. You further acknowledge that: (a) your ADEA Waiver does not apply to any claims that may arise after you sign this Agreement; (b) you should consult with an attorney prior to executing this Agreement; (c) you have 21 calendar days within which to consider this Agreement (although you may choose to execute Agreement earlier); (d) you have 7 calendar days following the execution of the Agreement to revoke this Agreement; and (e) the Agreement will not be effective until the eighth day after you sign this Agreement provided that you have not revoked it. You agree that any modifications, material or otherwise, made to this Agreement do not restart or affect in any manner the original 21-day consideration period provided in this paragraph. To revoke the Agreement, you must email a written notice of revocation to csoto@beyondmeat.com prior to the end of the 7-day period. You acknowledge that your consent to this Agreement is knowing and voluntary. The severance offer will be automatically withdrawn if you do not sign the Agreement within the 21-day consideration period. 
vi.No Admission. Nothing contained in this Agreement shall constitute or be treated as an admission by the Company or the Released Parties of any liability, wrongdoing, or violation of law.
vii.Continuing Obligations. At all times in the future, you will remain bound by your Confidentiality Agreement, a copy of which is attached as Attachment A. 
viii.Return of Company Property. You agree that, as of the Separation Date, you have returned to the Company any and all Company property in your possession or control, including, without limitation, equipment, documents (in paper and electronic form) and credit cards, and that you have returned or, if 

incapable of being returned, you have deleted and/or destroyed all Company property that you stored in electronic form or media (including, but not limited to, any Company property stored in a cloud environment or in your personal computer, USB drives or in any other device that will remain in your possession or control).  
ix.Non-Disclosure. Except if required by law, you agree that you will not disclose to others this Agreement or its terms, except that you may disclose such information to your spouse and to your attorney or accountant in order for such individuals to render services to you. 
x.Non-Disparagement. You agree that you will not disparage or encourage or induce others to disparage the Company or any of the Released Parties. For the purpose of this Agreement, “disparage” includes, without limitation, making comments or statements on social media or the internet, or to any person or entity including, but not limited to, the press and/or media, current or former employees, partners or principals of the Company or any entity with whom the Company has a business relationship, that would adversely affect in any manner (a) the conduct of the business of the Company or any of the Released Parties (including, but not limited to, any business plans or prospects) or (b) the reputation of the Company or any of the Released Parties. A breach of this provision will be deemed to be a material breach of this Agreement and will entitle the Company to recover liquidated damages in the amount of $1,000.00 for each occurrence of a breach. You expressly agree that this provision is reasonable under the circumstances that exist at the time this Agreement is made. Nothing in this Agreement shall prohibit you from providing truthful information as required by law in a legal proceeding or a government investigation.
xi.Arbitration Agreement. You and the Company agree that any and all claims or disputes arising out of or relating to this Agreement shall be resolved by final, binding and confidential arbitration before a single arbitrator in Los Angeles, CA (or another mutually agreeable location) conducted under the Judicial Arbitration and Mediation Services (JAMS) Streamlined Arbitration Rules & Procedures, which can be reviewed at http://www.jamsadr.com/rules-streamlined-arbitration/. Before engaging in arbitration, you and the Company agree to first attempt to resolve the dispute informally or with the assistance of a neutral third-party mediator. You and the Company each acknowledge that by agreeing to this arbitration procedure, you and the Company waive the right to resolve any such dispute, claim or demand through a trial by jury or judge or by administrative proceeding. The arbitrator, and not a court, shall also be authorized to determine arbitrability, except as provided herein. The arbitrator may in his or her discretion award attorneys’ fees to the prevailing party. All claims or disputes must be submitted to arbitration on an individual basis and not as a representative, class and/or collective action proceeding on behalf of other individuals. Any issue concerning the validity of this representative, class and/or collective action waiver must be decided by a Court and if for any reason it is found to be unenforceable, the representative, class and/or collective action claim may only be heard in Court and may not be arbitrated. Claims will be governed by applicable statutes of limitations. This arbitration agreement does not cover any action seeking only emergency, temporary or preliminary injunctive relief (including a temporary restraining order) in a Court of competent jurisdiction in accordance with applicable law to protect a party’s confidential or trade secret information. This arbitration agreement shall be construed and interpreted in accordance with the Federal Arbitration Act.
xii.Entire Agreement. You and the Company agree that this Agreement, the Confidentiality Agreement, the Equity Documents, and the Indemnification Agreement that you entered into with the Company effective as of January 16, 2020, a copy of which is attached as Attachment B (the “Indemnification Agreement”), constitute the entire agreement between you and the Company and any affiliate of the Company regarding the subject matter of this Agreement. All other prior or contemporaneous negotiations, agreements, understandings, or representations between you and the Company or any affiliate of the Company are expressly superseded hereby and are of no further force and effect. This Agreement may only be modified in a written document signed by you and an authorized employee of the Company.

xiii.Governing Law. Except as to the arbitration provision, this Agreement shall be construed and interpreted in accordance with the laws of the state in which you primarily worked.
xiv.Severability. The provisions of this Agreement are severable. If any provision of this Agreement is held invalid or unenforceable, such provision shall be deemed deleted from this Agreement and such invalidity or unenforceability shall not affect any other provision of this Agreement, the balance of which will remain in and have its intended full force and effect; provided, however that if such invalid or unenforceable provision may be modified so as to be valid and enforceable as a matter of law, such provision shall be deemed to have been modified so as to be valid and enforceable to the maximum extent permitted by law.
xv.Counterparts. This Agreement may be executed in counterparts, each of which shall be an original, but all of which together shall constitute one agreement. Execution via DocuSign or a similar service, or of a facsimile copy or scanned image shall have the same force and effect as execution of an original, and an electronic or facsimile signature or scanned image of a signature shall be deemed an original and valid signature.
To accept this Agreement, please sign and date this Agreement after your Separation Date and return it to me on or before 5 pm PT on February 11, 2021.
Sincerely,
Beyond Meat, Inc.

By:/s/ Ethan Brown
(Signature)
Name:    Ethan Brown
Title:    Chief Executive Officer         
My agreement with the terms and conditions of this Agreement is signified by my signature below. Furthermore, I acknowledge that I have read and understand this Agreement and that I sign this release of all claims voluntarily, with full appreciation that at no time in the future may I pursue any of the rights I have waived in this Agreement. 

Signed  /s/ Stuart Kronauge                      Dated:      1/21/2021        
    Stuart Kronauge
Attachment A: Confidentiality Agreement
Attachment B: Indemnification Agreement

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