Document:

dex101.htm

    
      

      

    

    Exhibit
10.1

       

      SPECIAL
RETENTION

      CASH AWARD
AGREEMENT

      

      

      This Agreement (this "Agreement") is
made and entered into this 9th day of October, 2008 by and between BNSF Railway
Company (“Railway”) and Peter J. Rickershauser, an employee of Railway
(hereinafter "Employee").

      

      

      W I T N E S S E T H

      

      

      WHEREAS, Railway desires to grant the
Employee the right to receive $150,000 (such right, the “Cash Award”) subject to
the terms contained in this Agreement.

      

      NOW THEREFORE, Railway and Employee
hereby agree that the Employee is granted the Cash Award, subject to the
following terms, conditions and restrictions:

      

      1.           Grant of Cash
Award.  Effective as of September 24, 2008 (the “Grant Date”)
and provided that the Employee remains employed in a salaried position through
the Grant Date, the Employee is hereby granted the Cash Award.  The
Cash Award represents an unfunded, unsecured promise by Railway to deliver to
the Employee, subject to the terms and conditions herein, an amount in cash
equal to $150,000.  The granting of the Cash Award does not involve an
actual transfer of property on the date of this Agreement, the Grant Date or at
any time prior to the payment of cash to the Employee in accordance with this
Agreement.

      

      2.           Vesting.  If
the Employee's Date of Termination (which, for purposes of this Agreement, shall
be the earlier of (a) the "Date of Termination" as defined in the 1999 Stock
Incentive Plan (the “Plan”) and (b) the date on which the Employee ceases to be
in salaried employment of Railway) does not occur prior to December 31, 2009
(the “Vesting Date”), then the Employee shall become vested in the Cash Award on
the Vesting Date.  Within 30 days following the Vesting Date, the
Employee shall receive a lump sum cash payment of $150,000, less any taxes
required to be withheld pursuant to paragraph 4, in respect of the Cash
Award.  As of the Vesting Date, the Cash Award shall no longer be
outstanding and Railway shall have no further obligation to the Employee with
respect to the Cash Award other than to make such cash payment.

      

      3.           Termination of
Employment.  Following the Grant Date, the Cash Award shall be
forfeited if the Employee's Date of Termination occurs prior to the Vesting
Date, unless such termination of employment constitutes a termination by Railway
for reasons other than Cause (as defined in the Plan) in connection with and
after a Change in Control (as defined in the Plan), as addressed in paragraph
5.

      

      4.           Taxes.  Railway
may withhold from any cash payment due to the Employee with respect to the Cash
Award all applicable federal, state, railroad retirement or local withholding
taxes, and may take any other action as may be necessary in the discretion of
Railway to satisfy all obligations for the payment of such taxes.

      

      5.           Change in
Control.  After the Grant Date, in the event of termination of
the Employee’s employment by Railway for reasons other than Cause (including any
termination treated as a termination for reasons other than Cause pursuant to
section 12.6 of the Plan) in connection with and after a Change in Control, the
Employee shall become vested in the Cash Award.  Within 30 days
following such termination, the Employee shall receive a lump sum cash payment
of $150,000, less any taxes required to be withheld pursuant to paragraph 4, in
respect of the Cash Award.  As of such termination, the Cash Award
shall no longer be outstanding and Railway shall have no further obligation to
the Employee with respect to the Cash Award other than to make such cash
payment.  Notwithstanding any provision in any other Change in Control
arrangement, program or contract, the Cash Award shall be solely subject to the
terms and conditions of this Agreement.

      

      6.           IRC Section
409A.  Notwithstanding any other provisions of this Agreement
to the contrary, Railway shall not make any payments provided for hereunder
until such time as it may reasonably believe that such delivery would not result
in acceleration of tax or imposition of penalties under section 409A of the
Internal Revenue Code of 1986, as amended.

      

      7.           No Contract of
Employment.  Nothing in this Agreement shall confer any right
to continued employment with Railway nor restrict Railway from termination of
the employment relationship of Employee at any time.

      

      8.           Heirs and
Successors.  This Agreement shall be binding upon, and inure to
the benefit of, Railway and its successors and assigns, and upon any person
acquiring, whether by merger, consolidation, purchase of assets or otherwise,
all or substantially all of Railway’s assets and business.  If any
rights exercisable by the Employee or benefits deliverable to the Employee under
this Agreement have not been exercised or delivered, respectively, at the time
of the Employee’s death, such rights shall be exercisable by the Designated
Beneficiary, and such benefits shall be delivered to the Designated Beneficiary,
in accordance with the provisions of this Agreement.  The “Designated
Beneficiary” shall be the beneficiary or beneficiaries designated by the
Employee in a writing filed with Railway in such form and at such time as
Railway shall require.  If a deceased Employee fails to designate a
beneficiary, or if the Designated Beneficiary does not survive the Employee, any
rights that would have been exercisable by the Employee and any benefits
distributable to the Employee shall be exercised by or distributed to the legal
representative of the estate of the Employee.  If a deceased Employee
designates a beneficiary and the Designated Beneficiary survives the Employee
but dies before the Designated Beneficiary’s exercise of all rights under this
Agreement or before the complete distribution of benefits to the Designated
Beneficiary under this Agreement, then any rights that would have been
exercisable by the Designated Beneficiary shall be exercised by the legal
representative of the estate of the Designated Beneficiary, and any benefits
distributable to the Designated Beneficiary shall be distributed to the legal
representative of the estate of the Designated Beneficiary.

      

      9.           No Violation of
Law.  Notwithstanding any other provision of this Agreement,
Employee agrees that Railway shall not be obligated to make any cash payment if
counsel to Railway determines such payment would violate any law or regulation
of any governmental authority.

      

      10.           No
Transfers.  Subject to paragraph 8, the Employee may not
anticipate, alienate, attach, sell, assign, pledge, encumber, charge or
otherwise transfer the Cash Award.

      

      11.           Relation to
Plan.  The Cash Award is not granted under the Plan and, except
as otherwise specifically provided herein, the provisions of the Plan do not
apply to the Cash Award.

      

      12.           Amendment.  This
Agreement may be amended by written agreement of Railway and the Employee
without the consent of any other person.

      

      Anything herein contained to the
contrary notwithstanding, this Agreement shall cease to be of any force or
effect unless executed by the Employee and delivered to the Vice President Human
Resources & Medical of Railway by October 15, 2008.

      

      IN WITNESS WHEREOF, the parties hereto
have executed this Agreement as of the day and year first above
written.

      

      

      BNSF RAILWAY COMPANY

      

      

      By:           _/s/ Linda
Longo-Kazanova                                                                

      Linda Longo-Kazanova

      
                                        Vice President Human
Resources & Medical

      

       

      

      

      

        /s/ Peter J.
Rickershause

                     
Peter J. Rickershauser

                                                              

      Form 10-QEX-4.1

Exhibit 4.1

No. R-1

$                    

CUSIP No. 713448 BJ6

PEPSICO, INC.

7.90% SENIOR NOTE DUE 2018

     PEPSICO, INC., a corporation in existence under the laws of the State of North Carolina
(herein called the “Company”, which term includes any successor corporation under the Indenture
referred to on the reverse hereof), for value received, hereby promises to pay to Cede & Co. or
registered assigns, the principal sum of
$                 on November 1, 2018, and to pay
interest on said principal sum semi-annually on May 1 and November 1 of each year, commencing, May
1, 2009, at the rate of 7.90% per annum from October 24, 2008, or from the most recent date in
respect of which interest has been paid or duly provided for, until payment of the principal sum
has been made or duly provided for. The interest so payable and punctually paid or duly provided
for on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose
name this Note (or one or more Predecessor Securities) is registered at the close of business on
the Record Date for such Interest Payment Date, which shall be the April 15 or October 15 (whether
or not a New York Business Day) next preceding such Interest Payment Date. Any such interest that
is payable but is not so punctually paid or duly provided for shall forthwith cease to be payable
to the registered Holder on such Record Date and may either be paid to the Person in whose name
this Note (or one or more Predecessor Securities) is registered at the close of business on a
Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice
whereof shall be given to Holders of Notes not earlier than 10 days prior to such Special Record
Date, or may be paid at any time in any other lawful manner not inconsistent with the requirements
of any securities exchange on which the Notes may be listed and upon such notice as may be required
by such exchange, if such manner of payment shall be deemed practical by the Trustee, all as more
fully provided in the Indenture.

     Payment of the principal of and interest on this Note will be made at the Place of Payment in
such coin or currency of the United States as at the time of payment is legal tender for payment of
public and private debts; provided, however, that payments of interest may be made at the option of
the Company by checks mailed to the addresses of the Persons entitled thereto as such addresses
shall appear in the Security Register.

     Reference is made to the further provisions of this Note set forth on the reverse hereof,
which shall have the same effect as though fully set forth at this place. Unless the certificate
of authentication hereon has been executed by or on behalf of the Trustee by manual signature, this
Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any
purpose.

 

 

     IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed by manual or
facsimile signature under its corporate seal or a facsimile thereof.

	 	 	 	 	 	 	 
	Dated:	 	                                        , 2008	 	PEPSICO, INC.
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	Authorized Officer
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	Authorized Officer
	[seal]
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Attest:
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 

 

 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

     This is one of the Securities of the series designated therein referred to in the
within-mentioned Indenture.

	 	 	 	 	 
	 	The Bank of New York Mellon, as
     Trustee

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 

 

 

REVERSE OF NOTE

PEPSICO, INC.

7.90% SENIOR NOTE DUE 2018

     This Note is one of a duly authorized issue of debentures, notes or other evidences of
indebtedness of the Company (herein called the “Securities”), issued and to be issued in one or
more series under an Indenture, dated as of May 21, 2007 (herein called the “Indenture”), between
the Company and The Bank of New York Mellon, as Trustee (herein called the “Trustee”, which term
includes any successor trustee under the Indenture), to which Indenture and all indentures
supplemental thereto reference is hereby made for a statement of the respective rights thereunder
of the Company, the Trustee, and the Holders of the Securities, the terms upon which the Securities
are, and are to be, authenticated and delivered, and the definition of capitalized terms used
herein and not otherwise defined herein. The Securities may be issued in one or more series, which
different series may be issued in various aggregate principal amounts, may be denominated in
different currencies, may mature at different times, may bear interest (if any) at different rates
(which rates may be fixed or variable), may be subject to different redemption provisions (if any),
may be subject to different sinking, purchase, or analogous funds (if any), may be subject to
different covenants and Events of Default, and may otherwise vary as provided in the Indenture.
This Note is one of a series of Securities of the Company designated as set forth on the face
hereof (herein called the “Notes”), initially limited in aggregate principal amount to
$2,000,000,000.

     The Notes shall be redeemable as a whole or in part, at the Company’s option at any time and
from time to time, at a redemption price equal to the greater of (i) 100% of the principal amount
of such Notes and (ii) the sum of the present values of the remaining scheduled payments of
principal and interest thereon (exclusive of interest accrued to the date of redemption) discounted
to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day
months) at the Treasury Rate plus 50 basis points, plus in each case accrued and unpaid interest to
the date of redemption.

     Except as otherwise provided herein, redemption of the Notes shall be made in accordance with
the terms of Article 11 of the Indenture.

     “Comparable Treasury Issue” means the United States Treasury security or securities selected
by an Independent Investment Banker as having an actual or interpolated maturity comparable to the
remaining term of the Notes to be redeemed that would be utilized, at the time of selection and in
accordance with customary financial practice, in pricing new issues of corporate debt securities of
a comparable maturity to the remaining term of such Notes.

     “Comparable Treasury Price” means, with respect to any redemption date, (A) the average of the
Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and
lowest such Reference Treasury Dealer Quotations, or (B) if the Trustee obtains fewer than four
such Reference Treasury Dealer Quotations, the average of all such quotations.

 

 

     “Independent
Investment Banker” means one of the Reference Treasury
Dealers appointed by the Company
and reasonably acceptable to the Trustee.

     “Reference Treasury Dealer” means each of any four primary U.S. Government securities dealers
in the United States of America selected by the Company.

     “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer
and any redemption date, the average, as determined by the Trustee, of the bid and asked prices for
the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount)
quoted in writing to the Trustee by such Reference Treasury Dealer at 3:30 p.m. New York time on
the third business day preceding such redemption date.

     “Treasury Rate” means, with respect to any redemption date, the rate per annum equal to the
semiannual equivalent yield to maturity or interpolated (on a day count basis) of the Comparable
Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of
its principal amount) equal to the Comparable Treasury Price for such redemption date.

     The Indenture permits, with certain exceptions as therein provided, the amendment thereof and
the modification of the rights and obligations of the Company and the rights of the Holders of the
Securities of each series under the Indenture at any time by the Company and the Trustee with the
consent of the Holders of a majority in aggregate principal amount of the Securities at the time
Outstanding of each series to be affected by such amendment or modification. The Indenture also
contains provisions permitting the Holders of a majority in aggregate principal amount of the
Securities of each series at the time Outstanding, on behalf of the Holders of Securities of such
series, to waive compliance by the Company with certain provisions of the Indenture and certain
past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder
of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this
Note and of any Note issued upon registration of transfer hereof or in exchange herefor or in lieu
hereof, whether or not notation of such consent or waiver is made upon this Note.

     The Indenture contains provisions setting forth certain conditions to the institution of
proceedings by Holders of Securities with respect to the Indenture or for any remedy under the
Indenture.

     If an Event of Default with respect to the Notes shall occur and be continuing, the principal
amount hereof may be declared due and payable or may be otherwise accelerated in the manner and
with the effect provided in the Indenture.

     No reference herein to the Indenture and no provision of this Note or of the Indenture shall
alter or impair the obligation of the Company, which is absolute and unconditional, to pay the
principal of and interest on this Note at the times, place and rate, and in the coin or currency,
herein prescribed.

     As provided in the Indenture and subject to certain limitations therein set forth, the
transfer of this Note is registerable in the Security Register, upon surrender of this Note for
registration of transfer at the office or agency of the Company in any Place of Payment duly

 

 

endorsed, or accompanied by a written instrument of transfer in form satisfactory to the
Company and the Security Registrar duly executed, by the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Notes, of authorized denominations and for the
same aggregate principal amount, will be issued to the designated transferee or transferees.

     The Notes are issuable only in registered form without coupons in denominations of $2,000 and
integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain
limitations therein set forth, this Note is exchangeable for a like aggregate principal amount of
Notes of different authorized denominations as requested by the Holder surrendering the same.

     No service charge shall be made for any such registration or transfer or exchange, but the
Company may require payment of a sum sufficient to cover any tax or other governmental charge
payable in connection therewith.

     Prior to the presentment of this Note for registration of transfer, the Company, the Trustee,
and any agent of the Company or the Trustee may treat the Person in whose name this Note is
registered as the owner hereof for the purpose of receiving payment as herein provided and for all
other purposes, whether or not this Note is overdue, and neither the Company, the Trustee, nor any
such agent shall be affected by notice to the contrary.

     All terms used in this Note which are defined in the Indenture and are not otherwise defined
herein shall have the meanings assigned to them in the Indenture.

     FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto

 

[PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE]

 

 

 

 

 

[PLEASE PRINT OR TYPE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE]

the within Note and all rights thereunder, hereby irrevocably constituting and appointing
                     attorney to transfer such Note on the books of the Issuer, with full
power of substitution in the premises.

Dated:                                         

NOTICE: The signature to this assignment must correspond with the name as written upon the face of
the within Note in every particular without alteration or enlargement or any change whatsoever.

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