Document:

Exhibit

EXHIBIT 10.59

AIRCRAFT TIME SHARING AGREEMENT
THIS AIRCRAFT TIME SHARING AGREEMENT (this “Agreement”) is made and entered into effective November 9, 2016, by and between Visa U.S.A. Inc., a Delaware corporation (the “Company”), and Alfred F. Kelly, Jr. (the “Executive”). 
RECITALS
WHEREAS, Company owns and/or operates the aircraft (individually and/or collectively, as the case may be, the “Aircraft”) listed on Schedule A hereto for business use by employees and non-employee directors of the Company; 
WHEREAS, Company has agreed to make the Aircraft, with flight crew, available to Executive for personal travel on a non-exclusive time sharing basis in accordance with Section 91.501(c)(1) of the Federal Aviation Regulations (“FAR”); and 
WHEREAS, Executive agrees to reimburse Company for the personal use of the Aircraft as permitted under the FAR and pursuant to the terms of this Agreement, which sets forth the understanding of the parties.
NOW, THEREFORE, in consideration of the foregoing and the provisions of this Agreement, and for other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
1.  Term. The term of this Agreement (the “Term”) shall commence on the date hereof and shall continue until terminated by either party on written notice to the other party, such termination to become effective ten (10) days from the date of the notice; provided, however, that this Agreement may be terminated by Company on such shorter notice as may be required for Company to comply with applicable law, regulations, the requirements of any financial institution with a security or other interest in the Aircraft, insurance requirements, or in the event the insurance required hereunder is not in full force and effect. This Agreement also shall terminate automatically on the date Executive ceases to serve as Company’s Chief Executive Officer. Notwithstanding the foregoing, any provisions directly or indirectly related to Executive's payment obligations for flights completed prior to the date of termination and the limitation of liability provisions in Section 11 shall survive the termination of this Agreement. 
2.  Provision of Aircraft and Crew. Subject to Aircraft availability and Section 4 of this Agreement, Company agrees to provide to Executive the Aircraft and flight crew on a time sharing basis, as defined in FAR Sections 91.501(c)(1) and 91.501(d). Company shall provide, at its sole expense, qualified flight crew for all flight operations under this Agreement. If Company becomes the owner and/or operator of any aircraft not listed on Schedule A hereto, Schedule A shall be modified to include such aircraft as an Aircraft covered by this Agreement, and thereafter this Agreement shall remain in full force and effect with respect to such Aircraft and each of the other Aircraft identified thereon, if any. If Company is no longer the owner and/or operator of any of the Aircraft, Schedule A shall be deemed amended to delete any reference to such Aircraft and this Agreement shall be terminated as to such Aircraft but shall remain in full force and effect with 

    

respect to each of the other Aircraft identified thereon, if any. No such termination shall affect any of the rights and obligations of the parties accrued or incurred prior to such termination. 
3.  Expenses. 
(a) Reimbursement. For each flight conducted under this Agreement (including return and deadhead flights, as described in Section 6(c)), Executive shall pay Company an amount (as determined by Company in its sole discretion) equal to the lesser of (i) the amount that would, absent reimbursement, be reportable with respect to Executive in the Summary Compensation Table of Company’s Proxy Statement (as determined by Company in its sole and absolute discretion in accordance with Item 402 of Regulation S-K (17 CFR 229.402), including any amendments or successor rules thereto) (the “SEC Cost”), or (ii) the expenses of operating such flight that may be charged pursuant to FAR Section 91.501(d) as in effect from time to time (the “FAR Expenses”). Under no circumstances shall Executive pay Company more than the maximum amount of expense reimbursement allowed under FAR Section 91.501(d) for any flight. 
(b) SEC Cost. For purposes of this Agreement, the SEC Cost shall include, but not be limited to, the following variable operating costs: aircraft fuel and oil, hourly engine program charges, communication, catering, allowance for maintenance and maintenance programs, contract pilots and cabin coordinators, flight crew expenses, flight crew meals, aircraft expenses, cleaning, landing and ground services, navigation, landing fees, parking charges and flight costs associated with repositioning the Aircraft in connection with deadhead flights (as described in Section 6 (c) of this Agreement).
(c) FAR Expenses. As of the date of this Agreement, FAR Expenses are limited to the following costs: 
		
	i.
	Fuel, oil, lubricants, and other additives; 

		
	ii.
	Travel expenses of the crew, including food, lodging, and ground transportation; 

		
	iii.
	Hangar and tie-down costs away from the Aircraft's base of operation; 

		
	iv.
	Insurance obtained for the specific flight as per Section 9(b); 

		
	v.
	Landing fees, airport taxes, and similar assessments; 

		
	vi.
	Customs, foreign permit, and similar fees directly related to the flight; 

		
	vii.
	In-flight food and beverages; 

		
	viii.
	Executive ground transportation; 

		
	ix.
	Flight planning and weather contract services; and 

		
	x.
	An additional charge equal to one hundred percent (100%) of the expenses listed in subsection (i) above. 

4.  Annual Cap. Company’s obligation to provide Executive the Aircraft and flight crew for personal use in any fiscal year shall cease at such time as the total cost of Executive’s personal 

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travel (which includes both personal travel by Executive and his guests) equals $500,000, as determined by Company using the lesser of (i) the SEC Cost, and (ii) the FAR Expenses.  
5. Invoicing and Payment. All payments to be made to Company by Executive hereunder shall be paid in the manner set forth in this Section. Company will pay, or cause to be paid, the expenses related to the operation of the Aircraft hereunder in the ordinary course. Company shall provide or cause to be provided to Executive a monthly invoice, within fifteen (15) days after the end of each month, that shows the personal use of the Aircraft by Executive pursuant to this Agreement during that month and provides a complete accounting detailing all amounts that are payable by Executive pursuant to Section 3 for that month (plus applicable domestic or international air transportation excise taxes, and any other fees, taxes or charges assessed on Executive by and remitted to a government agency or airport authority). Executive shall pay all amounts due under the invoice not later than fifteen (15) days after receipt thereof. In the event Company has not received all supplier invoices for reimbursable charges relating to personal use of the Aircraft prior to the date of the invoice, Company shall issue supplemental invoices for such charges to Executive, and Executive shall pay each supplemental invoice within fifteen (15) days after receipt thereof. 
6.  Scheduling Flights.
(a) Flight Requests. Executive shall provide Company with flight requests for Executive's personal travel to be undertaken pursuant to this Agreement and proposed flight schedules as far in advance of Executive's desired departure date as possible. Flight requests shall be made by Executive in a form that is acceptable to Company. Company shall have sole and exclusive authority over the scheduling of the Aircraft. Company shall not be liable to Executive or any other person for loss, injury, or damage occasioned by the delay or failure to furnish the Aircraft and crew pursuant to this Agreement for any reason. In addition to requested schedules and departure times, Executive shall provide at least the following information for each proposed flight reasonably in advance of the desired departure time as reasonably required by Company or its flight crew: 
		
	i.
	Departure point; 

		
	ii.
	Destination; 

		
	iii.
	Date and time of flight; 

		
	iv.
	Number and identity of anticipated passengers; 

		
	v.
	Nature and extent of luggage and/or cargo expected to be carried; 

		
	vi.
	Date and time of return flight, if any; and 

		
	vii.
	Any other information concerning the proposed flight that may be pertinent to or required by Company, its flight crew, or governmental entities. 

(b) Approval of Flight Requests. Subject to Aircraft and crew availability, Company shall use its good faith efforts, consistent with its approved policies, to accommodate Executive's needs and avoid conflicts in scheduling. Although every good faith effort shall be made to avoid its occurrence, any flights scheduled under this Agreement are subject to cancellation by either party 

3

without incurring liability to the other party. In the event of a cancellation, the canceling party shall provide the maximum notice reasonably practicable. 
(c) Repositioning of Aircraft. In the absence of another flight scheduled on the Aircraft by Executive or another scheduled business trip, the Aircraft may remain at the destination until its next required use. In the event the Aircraft must be repositioned, this Agreement shall be implemented such that all costs of deadhead flights (up to the amount described in Section 3) shall be borne by Executive if such flights are attributable to the personal use of the Aircraft and would be reportable in the Summary Compensation Table for Executive absent reimbursement.  
7.  Flight Operations. 
(a) Operational Control and Authority. Company shall be responsible for the physical and technical operation of the Aircraft and the safe performance of all flights under this Agreement, and shall retain full authority and control, including exclusive operational control and exclusive possession, command and control of the Aircraft for all flights under this Agreement. 
(b) Flight Crew. Company shall furnish at its expense a fully qualified flight crew with appropriate credentials to conduct each flight undertaken under this Agreement and included on the insurance policies that Company is required to maintain hereunder. In accordance with applicable FAR, the qualified flight crew provided by Company will exercise all required and/or appropriate duties and responsibilities in regard to the safety of each flight conducted hereunder. 
(c) Authority of Pilot-in-Command. The pilot-in-command shall have absolute discretion in all matters concerning the preparation of the Aircraft for flight and the flight itself, the load carried and its distribution, the decision whether or not a flight shall be undertaken, the route to be flown, the place where landings shall be made, and all other matters relating to operation of the Aircraft. Executive specifically agrees that the flight crew shall have final and complete authority to delay or cancel any flight for any reason or condition that in the sole judgment of the pilot-in-command could compromise the safety of the flight, and to take any other action that in the sole judgment of the pilot-in-command is necessitated by considerations of safety. No such action of the pilot-in-command shall create or support any liability to Executive or any other person for loss, injury, damage or delay. Company's operation of the Aircraft hereunder shall be strictly within the guidelines and policies established by Company and FAR Part 91.
8.  Aircraft Maintenance. Company shall, at its own expense, cause the Aircraft to be inspected, maintained, serviced, repaired, overhauled, and tested in accordance with FAR Part 91 so that the Aircraft will remain in good operating condition and in a condition consistent with its airworthiness certification and shall take such requirements into account in scheduling the Aircraft hereunder, including but not limited compliance with applicable airworthiness directives and service bulletins. Performance of maintenance, preventive maintenance or inspection shall not be delayed or postponed for the purpose of scheduling the Aircraft unless such maintenance or inspection can safely be conducted at a later time in compliance with applicable laws, regulations and requirements, and such delay or postponement is consistent with the sound discretion of the pilot-in-command. In the event that any non-standard maintenance is required during the term and will interfere with Executive's requested or scheduled flights, Company, or Company's pilot-in-command, shall notify 

4

Executive of the maintenance required, the effect on the ability to comply with Executive's requested or scheduled flights and the manner in which the parties will proceed with the performance of such maintenance and conduct of such flight(s). In no event shall Company be liable to Executive or any other person for loss, injury or damage occasioned by the delay or failure to furnish the Aircraft under this Agreement, whether or not maintenance-related. 
9.  Insurance. 
(a) Aviation Liability and Hull Insurance Policy. Company, at its expense, will maintain or cause to be maintained in full force and effect throughout the Term of this Agreement an aviation liability and hull insurance policy including: aviation liability insurance against bodily injury and property damage claims arising out of the use of the Aircraft in an amount not less than $250 Million for each occurrence; and breach of warranty and hull insurance for the Aircraft in amounts determined by Company at its sole discretion. The aviation liability coverage shall include Executive as an insured, and include a severability of interest provision providing that the insurance shall apply separately to each insured against whom a claim is made, except as respects the limits of liability. The aviation liability and hull insurance coverage shall include provisions whereby the insurer(s) waive all rights of subrogation they may have or acquire against Executive and shall permit the use of the Aircraft by Company for compensation or hire as provided in FAR Section 91.501. 
(b) Additional Insurance. Company shall use reasonable commercial efforts to provide such additional insurance for specific flights under this Agreement as Executive may reasonably request. Executive acknowledges that any trips scheduled to areas not currently covered by existing policies may require Company to purchase additional insurance to comply with applicable regulations, and Company shall be required to maintain or cause to be maintained such additional insurance. The cost of all flight-specific insurance shall be borne by Executive as provided in Section 3 above. 
10. Use of Aircraft. Executive represents and warrants that: 
(a) Executive will use the Aircraft under this Agreement for and only for his own account, including the carriage of his guests, and will not use the Aircraft for the purpose of providing transportation of executives or cargo for compensation or hire or for common carriage; 
(b) Executive will not permit any lien, security interest or other charge or encumbrance to attach against the Aircraft as a result of his actions or inactions, and shall not attempt to convey, mortgage, assign, lease or in any way alienate the Aircraft or Company's rights hereunder or create any kind of lien or security interest involving the Aircraft or do anything or take any action that might mature into such a lien; and
(c) During the Term of this Agreement, Executive will abide by and conform to all such laws, governmental and airport orders, rules, and regulations as shall from time to time be in effect relating in any way to the operation or use of the Aircraft by a lessee under a time sharing arrangement and all applicable policies of Company.

5

11. Limitation of Liability. NEITHER COMPANY (NOR ITS AFFILIATES) MAKES, HAS MADE OR SHALL BE DEEMED TO MAKE OR HAVE MADE ANY WARRANTY OR REPRESENTATION, EITHER EXPRESS OR IMPLIED, WRITTEN OR ORAL, WITH RESPECT TO ANY AIRCRAFT TO BE USED HEREUNDER OR ANY ENGINE OR COMPONENT THEREOF INCLUDING, WITHOUT LIMITATION, ANY WARRANTY AS TO DESIGN, COMPLIANCE WITH SPECIFICATIONS, QUALITY OF MATERIALS OR WORKMANSHIP, MERCHANTABILITY, FITNESS FOR ANY PURPOSE, USE OR OPERATION, AIRWORTHINESS, SAFETY, PATENT, TRADEMARK OR COPYRIGHT INFRINGEMENT OR TITLE. IN NO EVENT SHALL COMPANY OR ANY OF ITS AFFILIATES, SHAREHOLDERS, DIRECTORS, OFFICERS, EMPLOYEES, OR AGENTS BE LIABLE FOR OR HAVE ANY DUTY FOR INDEMNIFICATION OR CONTRIBUTION TO EXECUTIVE OR EXECUTIVE’S GUESTS FOR ANY CLAIMED LIABILITIES, LOSSES, OR INDIRECT, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES RESULTING FROM OR ARISING OUT OF THE USE OR OPERATION OF THE AIRCRAFT PURSUANT TO THIS AGREEMENT (ALTOGETHER, THE “LOSSES”), REGARDLESS OF WHETHER SUCH LOSSES ARISE OUT OF OR ARE CAUSED BY, IN WHOLE OR IN PART, THE COMPANY’S NEGLIGENCE, GROSS NEGLIGENCE, OR STRICT LIABILITY OR WHETHER THE COMPANY KNEW OR SHOULD HAVE KNOWN OF THE POSSIBILITY OF SUCH LOSSES. 
The provisions of this Section 11 shall survive the termination or expiration of this Agreement. 
12.  Risk of Loss. Company assumes and shall bear the entire risk of loss, theft, confiscation, damage to, or destruction of the Aircraft from any cause whatsoever.
13.  Base of Operations. For purposes of this Agreement, the base of operations of the Aircraft is Oakland International Airport (KOAK), Oakland, California, provided that such base may be changed at Company's sole discretion upon notice from Company to Executive. 
14.  Copy of Agreement in Aircraft. A copy of this Agreement shall be carried in the Aircraft and available for review at the request of the Federal Aviation Administration on all flights conducted pursuant to this Agreement.
15.  Notices and Communications. All notices and other communications under this Agreement shall be in writing (except as permitted in Section 6) and shall be given (and shall be deemed to have been duly given upon receipt or refusal to accept receipt) by personal delivery, by facsimile or electronic mail (with a simultaneous confirmation copy sent by first class mail properly addressed and postage prepaid), or by a reputable overnight courier service, addressed as follows: 
If to Company:     Visa U.S.A. Inc.
c/o General Counsel 
900 Metro Center Blvd. 
Foster City, California 94404

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If to Executive:    Alfred F. Kelly, Jr. 
Visa Inc.
c/o Executive Assistant to CEO
900 Metro Center Blvd. 
Foster City, California 94404

The address of a party may be changed from time to time by such party by written notice to the other party.
16.  Entire Agreement. This Agreement constitutes the entire understanding between the parties with respect to its subject matter, and there are no representations, warranties, rights, obligations, liabilities, conditions, covenants, or agreements relating to such subject matter that are not expressly set forth herein. 
17.  Further Acts. Company and Executive shall from time to time perform such other and further acts and execute such other and further instruments as may be required by law or may be reasonably necessary (i) to carry out the intent and purpose of this Agreement, and (ii) to establish, maintain and protect the respective rights and remedies of the other party. 
18.  Non-Assignment. Neither this Agreement nor any party’s interest hereunder shall be assignable to any person whatsoever. This Agreement shall inure to the benefit of, and be binding on the parties hereto and their respective heirs, executors, administrators, successors and assigns. 
19.  Taxes. Executive shall be responsible for paying, and Company shall be responsible for collecting from Executive and paying over to the appropriate authorities, all applicable Federal excise taxes imposed under Section 4261 of the Internal Revenue Code of 1986, as amended, and all sales, use and other excise taxes imposed by any authority in connection with the use of the Aircraft by Executive hereunder. 
20.  Governing Law and Consent to Jurisdiction. This Agreement shall be governed by, and construed in accordance with, the laws of the State of California, without regard to principles of conflicts of laws. 
21.  Severability. If any provision of this Agreement is held to be illegal, invalid or unenforceable, the legality, validity and enforceability of the remaining provisions shall not be affected or impaired. 
22.  Amendment or Modification. This Agreement may be amended, modified or terminated only in writing duly executed by the parties hereto. 
23.  Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, and all of which shall constitute one and the same Agreement, binding on all the parties notwithstanding that all the parties are not signatories to the same counterpart. 

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24.  Truth-in-Leasing Compliance. Company, on behalf of Executive, shall (i) deliver a copy of this Agreement to the Federal Aviation Administration, Aircraft Registration Branch, Attn: Technical Section, P.O. Box 25724, Oklahoma City, Oklahoma 73125 within 24 hours of its execution, (ii) notify the appropriate Flight Standards District Office at least 48 hours prior to the first flight under this Agreement of the registration number of the Aircraft, and the location of the airport of departure and departure time for such flight, and (iii) carry a copy of this Agreement onboard the Aircraft at all times when the Aircraft is being operated under this Agreement. 
25.  TRUTH-IN-LEASING STATEMENT PURSUANT TO FAR SECTION 91.23. 
COMPANY CERTIFIES THAT EACH OF THE AIRCRAFT HAS BEEN INSPECTED AND MAINTAINED DURING THE 12-MONTH PERIOD PRECEDING THE DATE OF THIS AGREEMENT (OR SUCH SHORTER PERIOD AS OPERATOR SHALL HAVE POSSESSED THE AIRCRAFT) IN ACCORDANCE WITH THE PROVISIONS OF PART 91 OF THE FEDERAL AVIATION REGULATIONS. EACH OF THE AIRCRAFT WILL BE MAINTAINED AND INSPECTED IN COMPLIANCE WITH THE MAINTENANCE AND INSPECTION REQUIREMENTS FOR ALL OPERATIONS TO BE CONDUCTED UNDER THIS AGREEMENT. 
COMPANY AGREES, CERTIFIES AND ACKNOWLEDGES, AS EVIDENCED BY ITS SIGNATURE BELOW, THAT WHENEVER ANY OF THE AIRCRAFT IS OPERATED UNDER THIS AGREEMENT, COMPANY SHALL BE KNOWN AS, CONSIDERED, AND SHALL IN FACT BE THE OPERATOR OF THE AIRCRAFT, AND THAT COMPANY UNDERSTANDS ITS RESPONSIBILITIES FOR COMPLIANCE WITH APPLICABLE FEDERAL AVIATION REGULATIONS. 
THE PARTIES UNDERSTAND THAT AN EXPLANATION OF FACTORS AND PERTINENT FEDERAL AVIATION REGULATIONS BEARING ON OPERATIONAL CONTROL CAN BE OBTAINED FROM THE NEAREST FAA FLIGHT STANDARDS DISTRICT OFFICE. 
SIGNATURE PAGE TO FOLLOW
IN WITNESS WHEREOF, the parties hereto have caused this Aircraft Time Sharing Agreement to be duly executed on the day and year first above written. 

	
				
	Visa U.S.A. Inc.
	 
	Alfred F. Kelly, Jr.

	 
	 
	 
	 

	By:
	/s/ Vasant M. Prabhu
	 
	/s/ Alfred F. Kelly, Jr.

	Name:
	Vasant M. Prabhu
	 
	 

	Title:
	EVP, Chief Financial Officer
	 
	 

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SCHEDULE A

	
			
	Type of Aircraft
	U.S. Registration Number
	Manufacturer Serial Number

	GULFSTREAM GV-SP (550)
	N107VS
	

5043

	GULFSTREAM GVI (G650ER)
	N358V
	6161

9SunOpta Inc.: Exhibit 10.1 - Filed by newsfilecorp.com

Exhibit 10.1 

 

November 8, 2016 

HAND DELIVERED 

WITHOUT PREJUDICE 
PRIVILEGED & CONFIDENTIAL

Hendrik Jacobs 
[Address omitted] 

Dear Rik: 

This letter will confirm our discussion today in which we
advised you that SunOpta Inc. ("SunOpta") has decided to terminate your
employment. The effective date of the termination of your employment is November
11, 2016 (the "Date of Termination") and this letter will be your written
notice of termination.

With effect on the Date of Termination, this letter will
terminate any employment you have with any parent, subsidiary, affiliate,
predecessor or successor of SunOpta. Other than as expressly set out herein,
this letter will also terminate any obligations owed to you by SunOpta pursuant
to any agreement, specifically including the Executive Employment Agreement
between you and SunOpta effective as of July 6, 2015 (the "Employment
Agreement"). 

You will, of course, receive all base salary earned by you to
the Date of Termination and payment for any accrued and unused paid time off
("PTO") owed to you, which amounts are set forth in Schedule "A" hereto.
To the extent not otherwise specifically continued pursuant to this letter, all
payments, benefits, perquisites or other entitlements of any type will end on
the Date of Termination. 

	1. 	
      Severance and Other
  Payments

In accordance with the requirements of the Employment
Agreement, SunOpta will provide you with the payments and entitlements described
in Schedule "A", all subject to the terms and conditions set out in this letter
(including delivery by you of a Release in the form attached as Schedule "B"
hereto, and confirmation of your acceptance of these terms and conditions
evidenced by you signing the Acceptance at the end of this letter); once signed
by you, this letter, including Schedule "A" and Schedule "B" hereto, shall also
be referred to as "this agreement". 

	2. 	
      No Other
Payments

The payments, benefits and other entitlements set out in this
letter shall constitute your complete entitlement and SunOpta's complete
obligations to you whatsoever, including with respect to the cessation of your
employment, whether at common law, statute or contract. For greater certainty,
you confirm that, other than the payments and entitlements set out in paragraph
1 above and Schedule "A" hereto, you have no further payment (including any
bonus payments), benefits, perquisites, allowances or entitlements earned or
owing to you from SunOpta pursuant to any employment or any other agreement
whatsoever (specifically including the Employment Agreement), all of which shall
cease on the Date of Termination without further obligation to you from SunOpta.
All amounts paid or benefits provided to you pursuant to this letter shall be
deemed to include all amounts owing pursuant to the Employment Standards Act,
2000 ("ESA") and you specifically agree that such payments and
benefits (including payment on a payroll basis) represent a greater right or
benefit than that required under the ESA. 

- 2 - 

	3. 	Your Continuing
      Obligations 
	  	  	  
		(a) 	
      Employment Agreement: Notwithstanding the
      cessation of your employment and in consideration of the payments and
      benefits set out in this agreement, you represent and warrant that you
      have abided by and you confirm that you will continue to abide by all of
      the obligations set out in the Employment Agreement and, further and for
      greater certainty, you confirm and agree that, the provisions of the
      Employment Agreement relating to Non-Competition and Non-Solicitation
      shall survive the cessation of your employment and the termination of the
      Employment Agreement and shall be enforceable in accordance with their
      terms. 

	  	  	
       

		(b) 	
      Return of Property: You are required to return
      immediately to SunOpta all of the property of SunOpta in your possession
      or in the possession of your family or agents including, without
      limitation, wireless devices and accessories, computer and office
      equipment, keys, passes, credit cards, customer lists, sales materials,
      manuals, computer information, software and codes, files and all
      documentation (and all copies thereof) dealing with the finances,
      operations and activities of SunOpta, its clients, employees, partners,
      investors or suppliers. 

	  	  	
       

		(c) 	
      Non-Disclosure: You will maintain the severance
      arrangements set out in this agreement in the strictest confidence and you
      will not disclose them except to your immediate family, or to your legal
      or professional advisors (but provided any such person agrees not to
      disclose such information to any other persons) or the extent that such
      disclosure may be required by law. 

	  	  	
       

		(d) 	
      Release: You will execute and return the Release
      attached as Schedule "B" hereto, the terms of which are incorporated
      herein and the delivery of which is a condition of any payment to you by
      SunOpta. 

	  	  	
       

		(e) 	
      Co-operation: During the 24-month period following
      the Date of Termination, at SunOpta's request, you agree to cooperate
      reasonably with SunOpta and its legal advisors in connection with (i) any
      business matters in which you were involved or (ii) any existing or
      potential claims, investigations, administrative proceedings, lawsuits and
      other legal and business matters which arose during your employment or
      involving SunOpta with respect to which you have knowledge of the
      underlying facts. 

	  	  	
       

		(f) 	
      Non-Disparagement: You agree not to take any
      action or make any statement that criticizes, ridicules, disparages or is
      derogatory to SunOpta, its affiliates or their employees, services,
      directors, officers, shareholders, or its financial status, or that damages SunOpta in any of its business
      relationships, or encourages the making of such statements or the taking
      of such actions by someone else. SunOpta agrees not to take any action or
      make any statement that criticizes, ridicules, disparages or is derogatory
      to you or that damages you with respect to your business relationships
      (including your relationship with prospective employers), or encourages
      the making of such statements or the taking of such actions by someone
      else.

- 3 - 

		(g) 	
      Consulting Services: You expressly acknowledge and
      agree that you will provide consulting services to SunOpta as may be
      reasonably requested by SunOpta during the 24-month period following the
      Date of Termination.

	 	 	 
		(h) 	
      Endorsement and Support: You expressly acknowledge
      and agree that that you will endorse and actively support the arrangements
      formally announced by SunOpta in its press release dated October 7, 2016
      during the 24-month period following the Date of Termination.

	 	 	 
	4. 	
      General

	 	 	 
		(a) 	
      Entire Agreement: This agreement constitutes the
      entire agreement between you and SunOpta with reference to any of the
      matters herein provided or with reference to your engagement, any
      employment or office with SunOpta or the cessation thereof. All promises,
      representations, collateral agreements, offers and understandings not
      expressly incorporated in this agreement are hereby superseded and have no
      further effect. For certainty, this agreement replaces and supersedes any
      obligation owed to you by SunOpta pursuant to the Employment
    Agreement.

	 	 	 
		(b) 	
      Positive Reference. A positive letter of reference
      will be provided to you by Alan Murray. Alan Murray will also serve as the
      single point of contact for any verbal references you require following
      the Date of Termination.

	 	 	 
		(c) 	
      Full Understanding: By signing this agreement, you
      confirm that: (i) you have had an adequate opportunity to read and
      consider the terms set out herein, including the Release, and that you
      fully understand them and their consequences; (ii) you have been advised
      to consult with legal counsel of your choosing and that you have obtained
      such legal or other advice as you have considered advisable; and (iii) you
      are signing voluntarily, without coercion, and without reliance on any
      representation, express or implied, by SunOpta, or by any director,
      officer, shareholder, employee or other representative of SunOpta; and
      (iv) this agreement and any payment referred to herein is not an admission
      of liability on SunOpta's part.

	 	 	 
		(d) 	
      Taxes: All payments referred to in this agreement
      will be less applicable withholdings and deductions (if any) and you shall
      be responsible for all tax liability resulting from your receipt of the
      payment and benefits referred to in this letter, except to the extent that SunOpta has withheld
      funds for remittance to statutory authorities.

- 4 - 

	 	(e) 	
      Severability: You hereby agree that each provision
      and the subparts of each provision of this agreement shall be treated as
      separate and independent clauses, and the unenforceability of any one
      clause shall in no way impair the enforceability of any of the other
      provisions of this agreement (which shall continue to be
    enforceable).

	 	 	 
	 	(f) 	
      Governing Law: This agreement and any claims
      arising out of this agreement shall be governed by and construed in
      accordance with the laws of the Province of Ontario and the laws of Canada
      applicable therein, shall in all respects be interpreted, enforced and
      governed under the internal and domestic laws of such province, without
      giving effect to the principles of conflicts of laws of such
    province.

*** 

Your acceptance of the terms and conditions of this letter may
be signified by signing and returning a duplicate of this letter, where
indicated, together with the Release attached as Schedule "B" hereto. We would
appreciate hearing from you by no later than one week from the date of this
letter.

We wish you well in your future endeavours. 

Sincerely, 

SUNOPTA INC. 

/s/ Alan Murray 

Alan Murray 
Chair of the Board of Directors

ACCEPTANCE: 

I hereby acknowledge receipt of this letter, and hereby accept
and agree to be bound by the terms and conditions set out in this letter
together with the enclosed Release.

	/s/ Hendrik Jacobs
    	 	November 8, 2016 
	Hendrik Jacobs 	 	Date 

Exhibit 10.1 

SCHEDULE "A" 
Severance and Other
Entitlements 

Note: All amounts are in U.S. Dollars and are subject to
applicable withholdings and deductions 

	  	Employment Agreement
      Entitlement 
	Base Salary and Vacation 
Pay as
      of Date of 
Termination: 	
      Pro-rated portion of base salary (at $650,000 per year) from last pay
      period until the Date of Termination is $25,000 (for 80 hours). Accrued
      and unused PTO owed to you (based on 32 unused PTO hours for 2016) is
      $10,000. 
Your outstanding base salary and PTO will be paid to you in
      Canadian dollars based on the average conversion rate for the 365-day
      period prior to the Date of Termination. 

	Severance Payment: 	
      You are entitled to receive a severance payment of
      $1,519,442 in accordance with the terms of your Employment Agreement (the
      "Severance Payment"). The Severance Payment will be payable to you
      in equal monthly installments of $42,206.72 for a period of 36 months
      commencing from the Date of Termination and ending on November 11, 2019.
      Your Severance Payment will be paid to you in Canadian dollars based on
      the average conversion rate for the 365-day period prior to the Date of
      Termination. 
The Severance Payment is determined by application of the
      following formula: two times the sum of: (i) your current base salary
      ($650,000); (ii) your average STI for the prior two fiscal years ($92,015,
      being the average of $184,030 for 2014 and nil for 2015); and (iii) the
      annual cost incurred by SunOpta for your automobile allowance, long term
      disability, life insurance and accidental death and dismemberment coverage
      ($17,706). 

	
      Options: 
	
      All unvested options held by you on the Date of
      Termination shall continue to vest for a period of 24 months commencing
      from the Date of Termination and ending on November 11, 2018. Your vested
      options can be exercised until the earlier of (i) the expiry date of the
      option and (ii) May 11, 2019 (the last day of the six-month period
      commencing from November 11, 2018). Your outstanding options are as
      follows: 

	  	       
       • 	100,000 vested options exercisable at $5.14 per share
  
	  	       
       • 	100,000 unvested options exercisable at $5.14 per share
  
	  	       
       • 	54,000 vested options exercisable at $7.36 per share

	  	       
       • 	36,000 unvested options exercisable at $7.36 per share
  
	  	       
       • 	12,378 vested options exercisable at $11.30 per share
  
	  	       
       • 	18,568 unvested options exercisable at $11.30 per share
  
	  	       
       • 	7,383 vested options exercisable at $10.08 per share

	  	       
       • 	29,533 unvested options exercisable at $10.08 per share
  
	  	       
       • 	4,600 vested options exercisable at $10.52 per share

	  	       
       • 	18,400 unvested options exercisable at $10.52 per share
  
	  	         • 	225,400 unvested options
      exercisable at $3.27 per share 
	
      PSUs: 
	
      All Performance Shares Units granted to you prior to the
      Date of Termination will be immediately be forfeited and cancelled
      effective as of the Date of Termination. You will not be entitled to any
      payment in lieu of such forfeited and cancelled Performance Share Units.
      

	  	Employment Agreement
      Entitlement 
	
      Benefits: 
	
      Your employment benefits will be continued for a period
      of four weeks in accordance with the requirements of the ESA. You will be
      entitled to continuation of your medical, prescription and dental care
      benefits for a 24-month period commencing from the Date of Termination and
      ending on November 11, 2018. Your life insurance benefits will terminate
      four weeks following the Date of Termination due to limitations imposed by
      the insurance provider. You may convert your group life insurance benefits
      to individual coverage without evidence of insurability within 31 days of
      the cessation of your group life insurance benefits. 

	
      Expense Reimbursement: 
	
      You will be reimbursed for any incurred but unreimbursed
      business and travel expenses. 

	
      Legal Fees: 
	
      As reimbursement of legal costs incurred by you in
      connection with the termination of your employment and the negotiation of
      this agreement, SunOpta will pay your legal costs up to a maximum of
      $5,000 (inclusive of HST), such sum payable directly to your counsel; an
      appropriate invoice will be required as a condition of payment. 

	
      Phone: 
	
      SunOpta will permit you to keep your iPhone following the
      Date of Termination. You will be responsible for all costs for
      transferring your iPhone from the SunOpta corporate account to your
      personal account. 

SCHEDULE "B" 
Release 

	FROM: 	Hendrik Jacobs 
	  	  
	TO: 	SunOpta Inc., its affiliates, subsidiaries,
      parents and related organizations and their respective partners,
      directors, officers, shareholders, employees and agents
      (collectively "SunOpta") 

	1. 	
      In consideration of the terms of the letter from SunOpta
      Inc. to me, Hendrik Jacobs, dated November 8, 2016 (the "Letter
      Agreement"), which terms are deemed to be and are accepted by me in
      full and final satisfaction of the Executive Employment Agreement between
      SunOpta and me, Hendrik Jacobs, dated July 6, 2015 (the receipt and
      sufficiency of which consideration are hereby acknowledged) and except for
      SunOpta's obligations referred to in the Letter Agreement, I hereby
      remise, release and forever discharge SunOpta of and from all manner of
      actions, causes of action, suits, debts, dues, accounts, bonds, contracts,
      liens, claims and demands whatsoever which I now have, ever had or
      hereafter can, shall or may have for or by reason of any cause, matter or
      thing whatsoever existing to the present time, and particularly and
      without limiting the generality of the foregoing, of and from all claims
      and demands of every nature and kind in any way related to or arising from
      my employment or other engagement with SunOpta, or from any employment
      agreement between me and SunOpta (express or implied and specifically
      including the Employment Agreement), or the termination of such
      employment, engagement or employment agreement, and specifically including
      all damages, salary, remuneration, commission, vacation pay, overtime pay,
      termination pay, severance pay, notice of termination, profit-sharing,
      employee stock options or other equity arrangements, bonus, proceeds of
      any insurance or disability plans, or any other fringe benefit or
      perquisite of any kind whatsoever. The payments contemplated by the
      Executive Agreement are deemed to satisfy all requirements or money owing
      under all applicable laws including without limitation, Part XV of the
      Employment Standards Act, 2000 (Ontario).

	 	 
	2. 	
      I acknowledge that the payments referred to in paragraph
      1 above will be made for the purposes of fully and finally resolving all
      possible claims that I might have against SunOpta in respect of my
      employment with SunOpta and, therefore, in this respect, I covenant and
      agree not to file any complaint under the Employment Standards Act,
      2000 (Ontario), under the Human Rights Code (Ontario), under
      the Workplace Safety and Insurance Act (Ontario) re-employment
      provisions, under the Occupational Health & Safety Act
      (Ontario), under the Pay Equity Act (Ontario), under the
      Labour Relations Act (Ontario), or pursuant to any other applicable
      law or legislation governing or related to my employment with SunOpta. For
      greater certainty, I agree that I am aware of my rights under the Human
      Right Code (Ontario) and I represent, warrant, and hereby confirm that
      I am not asserting such rights, alleging that any such rights have been
      breached, or advancing a human rights claim or complaint. In the event
      that I hereafter make any claim or demand or commence or threaten to
      commence any action, claim or proceeding or to make any complaint against
      SunOpta in this respect, this Release may be raised as an estoppel and
      complete bar to any such action, claim or proceeding.
I confirm that I have no right to re-instatement, recall or
      re-employment with SunOpta and I waive and release all rights I had or may
      have had in this regard.

	3. 	
      I further agree not to make or cause to be initiated any
      claims (expressly including any cross-claim, counterclaim, third party
      action or application) against any other person or corporation who might
      claim contribution or indemnity against the persons or corporations
      discharged by this Release, but solely with respect to matters covered by
      this Release.

	 	 
	4. 	
      I agree that the terms and contents of this Release and
      the payments contemplated in paragraph 1 above shall all remain
      confidential and shall not be disclosed except to the extent required by
      law or as otherwise agreed to in writing by SunOpta. I confirm that it
      shall not be a violation of this paragraph to make disclosure to my
      immediate family or to my legal or professional advisors.

	 	 
	5. 	
      This Release shall be binding upon me and my heirs,
      executors and administrators and shall ensure to your benefit and to the
      benefit of your respective heirs, executors, administrators, successors
      and assigns.

	 	 
	6. 	
      I acknowledge having had an opportunity to review this
      Release and to obtain independent legal advice and that the only
      consideration for this Release is as referred to above. I confirm that no
      other promises or representations of any kind have been made to me to
      cause me to sign this Release.

	 	 
	7. 	
      I acknowledge that this Release or the payment of any
      monies to me by SunOpta, shall not constitute an admission of liability on
      the part of SunOpta, which liability is denied.

	 	 
	8. 	
      I alone shall be responsible for all tax liability
      resulting from my receipt of the payments referred to in paragraph 1 as
      contemplated by the Employment Agreement except to the extent that SunOpta
      has withheld funds for remittance to statutory authorities. I agree to
      indemnify and save SunOpta harmless from any and all amounts payable or
      incurred by SunOpta (or any of you) if it is subsequently determined that
      any greater amount should have been withheld in respect of income tax,
      employment insurance, Canada Pension Plan, or any other statutory
      withholding.

	SIGNED this 8th day of November, 2016 	 )	
	  	 )	  
	/s/ Michelle
      Coleman 	 )	/s/
      Hendrik Jacobs 
	Witness 	 )	Hendrik Jacobs

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