Document:

TSN 2012 10K EX - 10.53

EXHIBIT 10.53

TYSON FOODS, INC. 
 2000 STOCK INCENTIVE PLAN 
 
STOCK INCENTIVE AGREEMENT 
PERFORMANCE SHARES

		
	Employee:
	[NAME]

		
	Personnel Number:
	[             ]

		
	Award:
	Up to _______ Performance Shares for the Peer Group Award [INSERT # of SHARES SUBJECT TO AWARD]

Up to _______ Performance Shares for the EBIT Award [INSERT # of SHARES SUBJECT TO AWARD]
		
	Grant Date
	[DATE]

		
	Initial Measurement Date:
	[DATE]

		
	Final Measurement Date:
	[DATE]

 

This Award is granted on the Grant Date by Tyson Foods, Inc., a Delaware corporation, (“Tyson”) to the Employee (hereinafter referred to as “you”) identified on the cover page of this Award Agreement.
		
	1.
	Terms and Conditions.  The Award is subject to all the terms and conditions of the Tyson Foods, Inc. 2000 Stock Incentive Plan (the “Plan”).  Unless otherwise defined herein, all capitalized terms in this Performance Shares Stock Incentive Award Agreement (the “Award Agreement”) shall have the meaning stated in the Plan.  Please see the Plan document for more information on these terms and conditions.  A copy of the Plan is available upon request.

		
	2.
	Definitions.

		
	2.1.
	"Cause," "Good Reason," "Disability," and "Release" shall have the same meanings as set forth in your Employment Agreement.

		
	2.2.
	"EBIT" shall mean Tyson's operating earnings (which takes into account accruals for bonus payments) before interest and taxes, as reported in Tyson's Annual Report on Form 10-K for any year in the Measurement Period (as hereinafter defined), as adjusted for unusual or unique items, such as one-time gains or losses, in the reasonable discretion of the Compensation Committee.

		
	2.3.
	"EBIT Award" shall mean any award of Performance Shares pursuant to satisfaction of any benchmark relative to the EBIT Goal outlined in Section 4(b).

		
	2.4.
	"EBIT Goal" for the Measurement Period shall be a cumulative EBIT of $_________________.

		
	2.5.
	"Final Measurement Date" shall mean date on the cover page.

		
	2.6.
	"Initial Measurement Date" shall mean the date on the cover page.

		
	2.7.
	"Measurement Period" shall mean the three fiscal year period from the Initial Measurement Date to the Final Measurement Date.

		
	2.8.
	"Peer Group" shall mean that group of publicly traded companies most recently determined by the Compensation Committee of Tyson's Board of Directors ("Compensation Committee"), which at the Initial Measurement Date is comprised of the following companies: Archer Daniels Midland, Bunge Ltd., Campbell Soup Co., ConAgra, Dean Foods, General Mills, H.J. Heinz Co., Hillshire Brands Company, Hormel Food Group, J.M. Smucker Co., Kellogg Co, Kraft Foods Group, Inc., McCormick & Co., Inc., Pilgrim's Pride Corp., Sanderson Farms, and Smithfield Foods, Inc.  If one or more members of the Peer Group ceases to be the surviving entity in a corporate transaction, the successor entity shall replace the entity which has ceased to exist provided that the primary business of the successor entity and its affiliates is in substantially the same lines of business as Tyson.  If a member of the Peer Group (a) ceases to have any class of securities registered under the Securities Exchange Act of 1934; (b) ceases to 

2

exist in circumstances where there is no successor entity or where the primary business of the successor entity and its affiliates is not in substantially the same lines of business as Tyson; or (c) becomes bankrupt, that member of the Peer Group shall be deleted as a member of the Peer Group and shall not be counted for purposes of measuring satisfaction of the Peer Group Goals and said Peer Group Goals shall be reduced accordingly. 
		
	2.9.
	"Peer Group Award" shall mean any award of Performance Shares pursuant to satisfaction of any Peer Group Goals.

		
	2.10.
	"Peer Group Goals" means the performance measures specified in Section 4(a).

		
	2.11.
	"Performance Shares" means the shares of Tyson's Class A common stock subject to this Award Agreement.

		
	2.12.
	"Stock Price"    means the closing price of Tyson's Class A common stock in the case of Tyson, or the publicly traded stock of a Peer Group company, on the applicable trading date as reported in The Wall Street Journal.

		
	2.13.
	"Stock Price Comparison" means the comparison of Tyson's Stock Price against the Stock Price for each of the Peer Group companies.  Such comparison shall begin with the average Tyson Stock Price and the Stock Price of each of the Peer Group companies for the twenty (20) trading days ending on the Initial Measurement Date and end with the average Tyson Stock Price and the Stock Price of each of the Peer Group companies for the twenty (20) trading days ending on the Final Measurement Date.  The Stock Price Comparison shall be made as a percentage of the growth of the Stock Price from the Initial Measurement Date to the Final Measurement Date.

		
	3.
	Vesting.  

		
	3.1.
	Vesting and Forfeiture. Those Awards which have become payable pursuant to the performance criteria and benchmarks set forth below shall be considered as fully earned by you, subject to the further provisions of this Section 3.  Any Awards which do not become payable in accordance with the performance criteria and benchmarks or the provisions of this Section 3 on account of: (i) your Termination of Employment with Tyson and/or its affiliates before the Final Measurement Date or (ii) the failure to satisfy the performance criteria and benchmarks provided below, will be forfeited back to Tyson.

		
	3.2.
	Death, Disability or Retirement.  In the event your Termination of Employment is due to death, Disability or, subject to your timely execution and non-revocation of a Release, Retirement before the Final Measurement Date, you will be entitled to a pro rata portion of your Award if the applicable performance criteria are satisfied. The pro rata portion of your Award shall equal the percentage of the total Measurement Period, measured in days, in which you remained employed by Tyson and/or its affiliates multiplied by the percentage of the Award that you would have received had you remained employed until the Final Measurement 

3

Date.  For purposes of this Agreement, “Retirement” shall mean your voluntary or involuntary Termination of Employment without Cause from Tyson and/or its affiliates on or after the date you attain age 62.
		
	3.3.
	Termination by Tyson without Cause or by you for Good Reason.  In the event that your employment is terminated by Tyson for reasons other than death, Disability, Retirement, or Cause, or by you for Good Reason, and subject to your timely execution and non-revocation of a Release, you will become entitled to a pro rata portion of your award if the applicable performance criteria are met.  The pro rata portion of your Award shall equal the percentage of the total Measurement Period, measured in days, in which you remained employed by Tyson and/or its affiliates multiplied by the percentage of the Award that you would have received had you remained employed until the Final Measurement Date.

		
	3.4.
	Change in Control. Following a Change in Control, and on the earlier of: (i) the date you are involuntarily terminated without Cause (as defined in your Employment Agreement) or (ii) sixty (60) days after the Change in Control, you shall become entitled to an Award equal to the Award that you would have received had you remained employed until the Final Measurement Date.  For purposes of this Award Agreement, the term “Change in Control” shall not include any event as a result of which one or more of the following persons or entities possess or continues to possess, immediately after such event, over fifty percent (50%) of the combined voting power of the Company or, if applicable, a successor entity: (a) Tyson Limited Partnership, or any successor entity; (b) individuals related to the late Donald John Tyson by blood, marriage or adoption, or the estate of any such individual (including Donald John Tyson’s); or (c) any entity (including, but not limited to, a partnership, corporation, trust or limited liability company) in which one or more of the entities, individuals or estates described in clauses (a) and (b) hereof possess over fifty percent (50%) of the combined voting power or beneficial interests of such entity.  

		
	4.
	Performance Criteria.  The extent, if any, to which you shall have the right to payment, respectively, of the Peer Group Award and/or the EBIT Award shall depend, in part, upon the extent to which the applicable performance measures have been satisfied as of the Final Measurement Date, as specified below:

(a)    The Peer Group Award shall have the following benchmarks during the Measurement Period:

(i)    If the Stock Price of Tyson has outperformed six (6) members of the Peer Group on the basis of Stock Price Comparison, there shall be a payment of _________ Performance Shares to you;
(ii)    If the Stock Price of Tyson has outperformed ten (10) members of the Peer Group on the basis of Stock Price 

4

Comparison, there shall be a payment of __________ Performance Shares to you; 
(iii)     If the Stock Price of Tyson has outperformed twelve (12) members of the Peer Group on the basis of Stock Price Comparison, there shall be a payment of __________ Performance Shares to you; and
(iv)    If the Stock Price of Tyson has outperformed fourteen (14) members of the Peer Group on the basis of Stock Price Comparison, there shall be a payment of __________ Performance Shares to you.

(b)    The EBIT Award shall have the following benchmarks:

(i)    If EBIT for a Measurement Period is equal to eighty percent (80%) of the EBIT Goal there shall be payment of _________ Performance Shares to you;
(ii)    If EBIT for a Measurement Period is equal to one hundred percent (100%) of the EBIT Goal there shall be payment of _________ Performance Shares to you;
(iii)    If EBIT for a Measurement Period is equal to one hundred twenty percent (120%) of the EBIT Goal there shall be payment of _________ Performance Shares to you ; and
(iv)    If EBIT for a Measurement Period is equal to one hundred forty percent (140%) of the EBIT Goal there shall be payment of _________ Performance Shares to you.
(v)    Performance between the foregoing benchmarks shall result in the payment of a number of shares of Stock to the Employee determined as a matter of applying a straight-line interpolation between the minimum number of shares of Stock specified in clause (i) above and the maximum number of Performance Shares specified in clause (iv) above. 
		
	5.
	Payment of Award.  The Performance Shares that may become payable pursuant to either the Peer Group Award or the EBIT Award, or both, shall be determined based upon the highest benchmark attained in the respective category.  In other words, the attainment of multiple benchmarks under the Peer Group Award or the EBIT Award will not result in the payment of a cumulative number of Performance Shares for each benchmark achieved for that particular Award.  Your Award, if any, will be paid fourth business day following the issuance of the Annual Report on Form 10-K which occurs after the completion of the applicable Measurement Period.  Payment shall be made in shares of Tyson’s Class A common stock. 

5

		
	6.
	Withholding Taxes.  By accepting the Award, you acknowledge and agree that you are responsible for, and that Tyson shall withhold, all applicable income and other taxes from any Award, including federal, FICA, state and local taxes applicable in your country of residence or employment.  Tyson shall withhold such taxes by any manner acceptable under the terms of the Plan.

		
	7.
	Beneficiary Designation.  In accordance with the terms of the Plan, you may name a Beneficiary to whom your Award under this Award Agreement is to be paid in case of your death before you receive any or all of your Award.  Each Beneficiary designation shall revoke all prior designations, shall be in a form prescribed by the Committee, and shall be effective only when filed in writing with the Committee during your lifetime.

		
	8.
	Right of the Committee.  The Committee is authorized to administer, construe, and make all determinations necessary or appropriate to the administration of the Plan and this Award Agreement, all of which shall be binding.

		
	9.
	Severability. In the event that any one or more of the provisions or portion thereof 
contained in this Award Agreement shall for any reason be held to be invalid, illegal, or unenforceable in any respect, the same shall not invalidate or otherwise affect any other provisions of this Award Agreement, and this Award Agreement shall be construed as if the invalid, illegal or unenforceable provision or portion thereof had never been contained herein.

		
	10.
	Entire Agreement. Subject to the terms and conditions of the Plan, and the 
applicable provisions of the Employment Agreement, this Award Agreement expresses the entire understanding and agreement of Tyson and you with respect to the subject matter. In the event of any conflict between the provisions of the Plan and the terms of this Award Agreement, the provisions of the Plan will control unless this Award Agreement explicitly states that an exception to the Plan is being made. The Award has been made pursuant to the Plan and an administrative record is maintained by the Committee.

		
	11.
	Restrictions on Transfer of Award.  You shall not dispose of the Award prior to the date an unrestricted certificate for  Performance Shares in your name is delivered to you by Tyson. Any disposition of the Award or any portion thereof shall be a violation of the terms of this Award Agreement and shall be void and without effect; provided, however, that this provision shall not preclude a transfer as otherwise permitted by the Plan.

		
	12.
	Headings. Paragraph headings used herein are for convenience of reference only and shall not be considered in construing this Award Agreement.

		
	13.
	Specific Performance. In the event of any actual or threatened default in, or breach of, any of the terms, conditions and provisions of this Award Agreement, the party or parties who are thereby aggrieved shall have the right to specific performance and injunction in addition to any and all other rights and remedies at law or in equity, and all such rights and remedies shall be cumulative.

6

		
	14.
	No Vested Right in Future Awards.  You acknowledge and agree that the granting of the Award under this Award Agreement is made on a fully discretionary basis by Tyson and that this Award Agreement does not lead to a vested right to further Awards in the future.  Further, the Award set forth in this Award Agreement constitutes a non-recurrent benefit and the terms of this Award Agreement are applicable only to the Award granted pursuant to this Award Agreement.

		
	15.
	No Right to Continued Employment.  You acknowledge and agree (by executing this Award Agreement) that neither the adoption of the Plan nor the granting of any Award shall confer any right to continued employment with Tyson, nor shall it interfere in any way with Tyson’s right to terminate your employment at any time for any reason in accordance with the terms of your Employment Agreement. 

		
	16.
	Governing Law.  The Plan, this Award Agreement and all determinations made and actions taken pursuant to the Plan or Award Agreement shall be governed by the laws of the State of Arkansas, without giving effect to the conflict of laws principles thereof.

		
	17.
	Successors and Assigns.  This Award Agreement shall inure to the benefit of and be binding upon each successor and assign of Tyson.  All obligations imposed upon you, and all rights granted to Tyson hereunder, shall be binding upon your heirs, successors and administrators.

You must sign this Award Agreement and return it to Tyson within ten (10) days to be eligible to receive this Award, or the Award will be forfeited.
*  *  * 

	
		
	TYSON FOODS, INC. 
 
 
By:     _______________________________

Date:                                                                
	____________________________________

	Print Name

____________________________________
Signature

Date:  _______________________________

7TSN 2012 10K EX - 10.54

EXHBIIT 10.54

TYSON FOODS
SEVERANCE PAY PLAN
FOR CONTRACTED EMPLOYEES
(effective October 31, 2012)

TABLE OF CONTENTS

	
			
	 
	Page
	

	ESTABLISHMENT AND PURPOSE OF THE PLAN
	1
	

	 
	 

	ELIGIBLE EMPLOYEES
	1
	

	 
	 

	SEVERANCE PAY AND SEVERANCE BENEFITS
	1
	

	 
	 

	PLAN ADMINISTRATION
	2
	

	 
	 

	CLAIMS PROCEDURE FOR PLAN BENEFITS
	2
	

	 
	 

	AMENDMENT/TERMINATION/VESTING
	3
	

	 
	 

	RECOVERY OF PAYMENTS MADE BY MISTAKE
	4
	

	 
	 

	PLAN FUNDING
	4
	

	 
	 

	APPLICABLE LAW
	4
	

	 
	 

	PLAN YEAR
	4
	

	 
	 

	YOUR ERISA RIGHTS
	4
	

	 
	 

	GENERAL INFORMATION
	5
	

	 
	 

TYSON FOODS 
SEVERANCE PAY PLAN 
FOR CONTRACTED EMPLOYEES
ESTABLISHMENT AND PURPOSE OF THE PLAN
TYSON FOODS, INC. (“Tyson”) has adopted and maintains the TYSON FOODS SEVERANCE PAY PLAN FOR CONTRACTED EMPLOYEES (the “Plan”), effective as of October 31, 2012, for the benefit of certain employees of an Employer. “Employer” means Tyson and each Related Employer. “Related Employer” means any other U.S. based entity or organization which is either a member of a controlled group of Tyson (as determined under Section 414(b) of the Internal Revenue Code) or a member of a group of trades or businesses (whether or not incorporated) which are under common control (as determined under Section 414(c) of the Internal Revenue Code) or a member of an affiliated service group (as determined under Section 414(m) of the Internal Revenue Code) with Tyson which adopts the Plan in writing with the prior written consent of Tyson. 
The purpose of the Plan is to provide an eligible employee with severance pay and severance benefits for a specified period of time in the event that his/her employment is involuntarily terminated for other than death, Disability or Cause.  
The Plan is an unfunded welfare benefit plan for purposes of the Employee Retirement Income Security Act of 1974, as amended (ERISA) and is designed for a select group of management or highly compensated employees that is intended to qualify for the exemptions provided in ERISA Sections 201, 301 and 401 and for the alternative reporting method provided in DOL Reg. §2520.104-24. The Plan supersedes any prior severance plans, programs or policies of an Employer covering eligible employees, both formal and informal.  This document serves as both the Plan document as well as the summary plan description. 
ELIGIBLE EMPLOYEES
The Plan is applicable to each employee of the Employer who is entitled to severance pay and benefits under the terms of a written employment agreement which addresses severance (the “Employment Agreement”) as a result of being involuntarily terminated for a reason other than death, Disability or Cause or for resigning on account of Good Reason (a “Contracted Employee”).   A Contracted Employee shall be eligible for severance pay and severance benefits only in the circumstances specified in his or her Employment Agreement.  Capitalized terms not defined in this Plan have the meaning set forth in the Employment Agreement.
SEVERANCE PAY AND SEVERANCE BENEFITS
In exchange for providing Tyson with an enforceable Release in accordance with the Employment Agreement, severance pay and severance benefits will be available to each eligible Contracted Employee in accordance with the attached Schedule.  Severance pay will be paid in the time and manner specified in the Employment Agreement. 

PLAN ADMINISTRATION
Tyson’s ERISA Plan Committee, consisting of the Chief Human Resources Officer, Vice President of Employee Benefits, and the General Counsel, shall serve as the “Plan Administrator” of the Plan and the “named fiduciary” within the meaning of such terms as defined in ERISA. The Plan Administrator shall have the discretionary authority to determine eligibility for Plan severance pay and severance benefits and to construe the terms of the Plan, including the making of factual determinations. Severance pay and severance benefits under the Plan will be payable only if the Plan Administrator determines that the eligible employee is entitled to them. The decisions of the Plan Administrator shall be final and conclusive with respect to all questions concerning the administration of this Plan.
The Plan Administrator may delegate to other persons responsibilities for performing certain of the duties of the Plan Administrator under the terms of this Plan and may seek such expert advice as the Plan Administrator deems reasonably necessary with respect to the Plan. The Plan Administrator shall be entitled to rely upon the information and advice furnished by such delegatees and experts, unless actually knowing such information and advice to be inaccurate or unlawful. The Plan Administrator shall establish and maintain a reasonable claims procedure, including a procedure for appeal of denied claims. In no event shall an eligible employee or any other person be entitled to challenge a decision of the Plan Administrator in court or in any other administrative proceeding unless and until the claim and appeals procedures established under this Plan have been complied with and exhausted.
In the event of a group termination, as determined in the sole discretion of the Plan Administrator, the Plan Administrator shall furnish affected eligible employees with such additional information as may be required by law.
CLAIMS PROCEDURE FOR PLAN BENEFITS
Generally, eligible employees need not make a claim for benefits under the Plan to receive Plan benefits (other than completing the Release Agreement for a Contracted Employee).  However, if an employee believes that he or she is entitled to benefits, or to greater benefits than are paid under the Plan, the employee may file a claim for benefits with the Plan Administrator.  The Plan Administrator will either accept or deny the claim, and will notify the claimant of its decision.  If the claimant does not provide all the necessary information for the Plan Administrator to process his or her claim, the Plan Administrator may request additional information and set deadlines for the claimant to provide that information.  Within ninety (90) days after receiving a claim, the Plan Administrator will:
		
	1.
	either accept or deny the claim completely or partially; and

		
	2.
	notify the claimant of acceptance or denial of his or her claim.

If the claim is completely or partially denied, the Plan Administrator will furnish a written notice to the claimant containing the following information:
		
	(a)
	the specific reasons for the denial;

2

		
	(b)
	specific references to the Plan provisions on which any denial is based;

		
	(c)
	a description of any additional material or information that must be provided by the claimant in order to support the claim; and

		
	(d)
	an explanation of the Plan’s appeal procedures.

A claimant may appeal the denial of his or her claim and have the Plan Administrator reconsider the decision.  The claimant or the claimant’s authorized representative has the right to:
		
	1.
	request an appeal by written request to the Plan Administrator no later than sixty (60) days after receipt of notice from the Plan Administrator denying the claimant’s claim;

		
	2.
	upon request and free of charge, review or receive copies of any documents, records or other information relevant to the claimant’s claim; and

		
	3.
	submit written comments, documents, records and other information relating to the claimant’s claim in writing to the Plan Administrator.

In deciding the claimant’s appeal, the Plan Administrator will take into account all comments, documents, records and other information submitted by the claimant relating to the claim, regardless of whether such information was submitted or considered in the initial review of the claim.  If the claimant does not provide all the necessary information for the Plan Administrator to process the appeal, the Plan Administrator may request additional information and set deadlines for the claimant to provide that information.
The Plan Administrator will make a decision with respect to such an appeal within sixty (60) days after receiving the written request for such appeal.  The claimant will be advised of the Plan Administrator’s decision on the appeal in writing.  The notice will set forth (i) the specific reasons for the decision and make, (ii) the specific reference to Plan provisions upon which the decision on the appeal is based, (iii) a statement that the claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records or other information relevant to his or her claim, and (iv) a statement of the claimant’s right to bring a civil action under ERISA Section 502(a) following a denial of his or her appeal for benefits.
In no event will a claimant or any other person be entitled to challenge a decision of the Plan Administrator in court or in any other administrative proceeding unless and until the claim and appeal procedures described above have been complied with and exhausted.  In no event may a claimant challenge the Plan Administrator’s decision upon appeal in any court or governmental proceeding after 120 days from the date of the Plan Administrator’s decision of the appeal.
AMENDMENT/TERMINATION/VESTING
Contracted Employees do not have any vested right to any level of severance pay and/or severance benefits under the Plan and Tyson reserves the right in its sole discretion to amend or terminate the Plan or modify the Schedule in a writing signed by the President and Chief Executive Officer of Tyson at any time. Any amendment or termination shall not affect the 

3

payment of severance pay and severance benefits which have commenced being paid under the Plan prior to the effective date of such amendment or termination.
RECOVERY OF PAYMENTS MADE BY MISTAKE
An eligible employee shall be required to return to Tyson any payments of severance pay and any severance benefits, or portion thereof, made by a mistake of fact or law.  Tyson has all remedies available at law for the recovery of such amounts.
PLAN FUNDING
No eligible employee shall acquire by reason of the Plan any right in or title to any assets, funds, or property of an Employer. Any severance pay which becomes payable under the Plan is an unfunded obligation and shall be paid from the general assets of the eligible employee’s Employer. No employee, officer, director or agent of any Employer personally guarantees in any manner the payment of Plan severance pay and severance benefits.
APPLICABLE LAW
This Plan shall be governed and construed in accordance with ERISA and in the event that any reference shall be made to State law, the laws of the State of Arkansas shall apply, without regard to its conflicts of law provisions. The Plan shall be binding upon and inure to the benefit of the eligible employees and the Employer, including any successor of the Employer, whether by way of merger, reorganization, acquisition, or sale by the Employer of substantially all of the Employer’s assets.
PLAN YEAR
The ERISA plan year of this Plan shall be the twelve month period commencing on January 1 of each year.
YOUR ERISA RIGHTS
As an eligible employee under the Plan, you are entitled to certain rights and protections under ERISA.  ERISA provides that eligible employees under the Plan will be entitled to:
		
	1.
	Examine without charge at the Plan Administrator’s office (and at other specified locations) all Plan documents and copies of all documents filed by the Plan Administrator with the U.S. Department of Labor, such as detailed annual reports and Plan descriptions.

		
	2.
	Obtain copies of all Plan documents and other Plan information upon written request to the Plan Administrator.  The Plan Administrator may make a reasonable charge for the copies.

		
	3.
	Receive a copy of the Plan’s financial report, if any.  The Plan Administrator may be required by law to furnish each eligible employee with a copy of the summary annual report.

4

In addition to creating rights for eligible employees, ERISA imposes duties upon the people who are responsible for the operation of the Plan.  The people who operate the Plan, called “fiduciaries” of the Plan, have a duty to do so prudently and in the interest of you and other eligible employees.  No one, including the Employer or any other person, may fire you or otherwise discriminate against you in any way to prevent you from obtaining a benefit or exercising your rights under ERISA.  If your claim for a Plan benefit is denied, you must receive a written explanation of the reason for the denial.  You have the right to have the Plan Administrator review and reconsider your claim.
Under ERISA, there are steps you can take to enforce the above rights.  For instance, if you request materials from the Plan Administrator and you do not receive them within thirty (30) days, you may file suit in a federal court.  In such a case, the court may require the Plan Administrator to provide the materials and to pay you up to $110.00 per day until you receive the materials, unless the materials were not sent because of reasons beyond the control of the Plan Administrator.  If you have a claim for benefits which is denied or ignored, you may file suit in a state or federal court.  
If Plan fiduciaries misuse the Plan’s money, or if you are discriminated against for asserting your rights, you may seek assistance from the U.S. Department of Labor or you may file suit in federal court.  The court will decide who should pay court costs and legal fees.  If you are successful, the court may order the person you have sued to pay these costs and fees.  If you lose, the court may order you to pay these costs and fees, for instance, if it finds your claim to be frivolous.
If you have any questions about the Plan, you should contact the Plan Administrator.  If you have questions about this statement or about your rights under ERISA, or if you need assistance in obtaining documents from the Plan Administrator, you should contact the nearest office of the Employee Benefits Security Administration, U.S. Department of Labor, listed in your telephone directory or the Division of Technical Assistance and Inquiries, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue, N.W., Washington D.C. 20210.  You may also obtain certain publications about your rights and responsibilities under ERISA by calling the publications hotline of the Employees Benefits Security Administration.
GENERAL INFORMATION
	
		
	Plan Name:
	Tyson Foods Severance Pay Plan for Contracted Employees

	Type of Plan:
	The Plan is an unfunded severance pay plan and a welfare benefit plan under ERISA for a select group of management or highly compensated employees that is intended to qualify for the exemptions provided in ERISA Sections 201, 301 and 401 and for the alternative reporting method provided in DOL Reg. §2520.104-24.

5

	
		
	Plan Number:
	546

	Plan Sponsor:
	Tyson Foods, Inc.
2200 Don Tyson Parkway 
Springdale, Arkansas 72762-6999

	Plan Sponsor’s Employer
Identification Number:

	71-0225165

	Plan Administrator:
	ERISA Plan Committee
2200 Don Tyson Parkway 
Springdale, Arkansas 72762-6999

	Agent for Service
of Legal Process:
	The Corporation Trust Company 
1209 Orange Street 
Wilmington, DE 19801

 
                        	
		
	TYSON FOODS, INC.

	 
	 

	By:
	/s/ Kenneth Kimbro

	 
	11/6/2012

	 
	 

	 
	 

                            

6

Schedule
Severance Pay and Benefits 
By Band
	
			
	Band
	Weeks of Severance Pay
	Weeks of Subsidized COBRA Coverage

	1
	104 weeks (or 24 months)
	104 weeks

	2
	104 weeks (or 24 months)
	104 weeks

	3
	78 weeks (or 18 months)
	78 weeks

	4
	78 weeks (or 18 months)
	78 weeks

	5
	78 weeks (or 18 months)
	78 weeks

	6
	52 weeks (or 12 months)
	52 weeks

	7
	52 weeks (or 12 months)
	52 weeks

	8
	52 weeks (or 12 months)
	52 weeks

	9
	52 weeks (or 12 months)
	52 weeks

	KTM
	52 weeks (or 12 months)
	52 weeks

A “week of pay” shall be determined by dividing regular annual base salary level on the date of termination of employment with the Employer by fifty-two. 
A Contracted Employee shall be entitled to a subsidized COBRA premium for health and dental benefits for the number of weeks equal to that of his/her severance pay.  In the event subsidized COBRA is provided, if the Contracted Employee elects COBRA continuation coverage, the Employer will pay the full COBRA premium rate less an amount equal to the cost during the same period to an active employee for the same level of coverage.  If the COBRA subsidy does not extend for the entire COBRA continuation coverage period, the Contracted Employee may continue the benefits for the remaining period by paying the full COBRA premium rate.
All of the terms and conditions of the Employer sponsored medical and dental benefit plans, as amended from time to time, shall be applicable to an eligible employee (and his/her eligible dependents, if applicable) participating in any form of continuation coverage under the Employer sponsored medical and dental benefit plans.

7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00210-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00210-of-00352.parquet"}]]