Document:

Form of Dean Cash Award Agreement

 Exhibit 10.15 

 

			
	

	  	

 2011 DEAN CASH AWARD AGREEMENT 

 

 This AGREEMENT (this “Agreement”), effective as of the date indicated on
the Notice of Grant delivered herewith (the “Notice of Grant”), is made and entered into by and between Dean Foods Company, a Delaware corporation (the “Company”), and the individual named on the Notice of Grant
(“you”). 
 WITNESSETH: 
 WHEREAS, the Compensation Committee of the Board of Directors of the Company has determined to grant awards of cash (“Dean Cash”), subject to the terms and conditions as set forth herein to
certain selected Employees of the Company and any business entity in which the Company possesses directly or indirectly fifty percent (50%) or more of the total combined voting power (a “Subsidiary”); and 

WHEREAS, during your employment, and based upon your position with the Company and/or its Subsidiaries, you have acquired and will
continue to acquire, by reason of your position, substantial knowledge of the operations and practices of the business of the Company; and 
 WHEREAS, the Company desires to assure that, to the extent and for the period of your service and for a reasonable period thereafter, it may maintain the confidentiality of its trade secrets and
proprietary information, and protect goodwill and other legitimate business interests, each of which could be compromised if any competitive business were to secure your services; and 

WHEREAS, the Committee has selected you to receive a Dean Cash Award described in this Agreement and in the Notice of Grant.

 NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements herein contained, and as an
inducement to you to continue as an employee of the Company (or its Subsidiaries), you and the Company hereby agree as follows: 
 1. Grant of Award. The Company hereby grants to you and you hereby accept, subject to the terms and conditions set forth in this Agreement, the amount of Dean Cash shown on the Notice of Grant,
effective as of the date indicated on the Notice of Grant (the “Date of Grant”). You must accept this Dean Cash Award in the manner designated by the Company

 
in the Notice of Grant (e.g. electronic acceptance) not later than 90 days after the Date of Grant, or electronic notification of such Grant, whichever occurs later, or this Award will be
rendered void and without effect. Subject to the provisions of Sections 2(c), 2(d), 3(b) and 7 hereof, this Dean Cash Award is irrevocable. 
 2. Vesting. 
 (a) Regular Vesting. Except as otherwise provided in
your Notice of Grant or this Section 2, your Dean Cash Award will vest in full on the date set forth in your Notice of Grant. 
 (b) Accelerated Vesting. 
 (1) Unless otherwise determined by the
Committee, or except as provided in another written agreement between you and your Employer, if your Service terminates by reason of Death, Disability or Retirement prior to the vesting date of your Dean Cash Award set forth in the Notice of Grant,
you shall be entitled to receive a payment in respect of your unvested Dean Cash Award determined in accordance with this Section 2(b)(1). Such payment shall be equal to the amount determined by multiplying the amount of the Dean Cash Award set
forth in the Notice of Grant, multiplied by a fraction, the numerator of which is the number of your full months of Service completed beginning on the date of grant through and including the date of your termination of employment, and the
denominator of which is the total number of full months that had been scheduled to occur during the vesting period without regard to this Section 2(b)(1); provided that, for purposes of this fraction, a partial month of Service
consisting of 15 or more days of Service shall be treated as though a full month of Service. Payment of such pro-rated amount shall be made as soon as administratively practicable following your date of termination, except that, if you are a
specified employee (within the meaning of Section 409A of the Code) and your right to receive a payment under this Section 2(b)(1) arises due to your Retirement, then notwithstanding the foregoing or Section 3(a), such payment shall
not be made prior to the six month anniversary of your date of your separation from service. For purposes of this Agreement, “Retirement” shall be defined as your retirement from employment or other service to the Company or any
Subsidiary after you reach (i)

 

  

					
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age fifty-five (55), so long as you shall also have completed at least ten (10) years of continuous service immediately prior to your retirement, or (ii) age sixty-five (65).
“Disability” shall be defined as your permanent and total disability (within the meaning of Section 22(e)(3) of the Code). 
 (2) In addition to the vesting provisions contained in Sections 2(a), 2(b)(1) and 2(b)(2) above, your unvested Dean Cash Award will automatically and immediately vest in full upon a Change in Control.

 (c) Forfeiture of Unvested Dean Cash Awards. Unless otherwise determined by the Committee, or except as provided in
an agreement between you and your Employer, if your Service terminates for any reason other than Death, Disability or Retirement during the Restriction Period, your unvested Dean Cash Award held will be forfeited and canceled as of the date of such
termination of Service. Notwithstanding anything to the contrary in this Section 2, your rights with respect to any unvested portion of your Dean Cash Award shall in all events be immediately forfeited and canceled as of the date of your
termination of Service for Cause as defined in Section 3(b) below. 
 (d) Repayment. Participant agrees and
acknowledges that this Award Agreement is subject to any policies that the Committee may adopt from time to time with respect to the repayment to the Company of any benefit received hereunder, including “clawback” policies. 

3. Value; Forfeiture. 
 (a) Payment Upon Vesting. The Company will pay to you (or to your estate in the event of your Death) the cash amount set forth on the Notice of Grant that vested on such vesting date as soon as
administratively practicable after such vesting date but in no event later than the fifteenth day of the third calendar month beginning after the calendar year in which the Dean Cash Award shall have become vested. 

(b) Forfeiture of Shares. Notwithstanding any provision of this Agreement to the contrary, if you are discharged from the
employment of the Company or any of its Subsidiaries for Cause (as defined below), your rights in your unvested Dean Cash Award will be immediately forfeited and canceled as of such termination date. For purposes of this Agreement,
“Cause” means your (i) willful failure to perform substantially your duties; (ii) willful or serious misconduct that has caused, or could reasonably be expected to result in, material injury to the business or reputation
of an Employer; (iii) conviction of, or entering a plea of guilty or nolo contendere to, a crime constituting a felony; (iv) breach of any written covenant or agreement with an Employer, any material written policy of any Employer
or any Employer’s

 
code of conduct or code of ethics, or (v) failure to cooperate with an Employer in any internal investigation or administrative, regulatory or judicial proceeding. In addition, your Service
shall be deemed to have terminated for Cause if, after your Service has terminated (for a reason other than Cause), facts and circumstances are discovered that would have justified a termination for Cause. Your unvested Dean Cash Award will also be
immediately forfeited and canceled in accordance with Section 7 upon your breach of the provisions set forth in Section 7. 
 (c) Compliance With Law. The granting of this Dean Cash Award shall be subject to all applicable federal, state and foreign country laws, rules and regulations, and to such approvals by any
regulatory or governmental agency as may be required. The Company, in its discretion, may postpone the granting and payment with respect to the Dean Cash Award, and neither the Company nor its directors or officers shall have any obligation or
liability to you with respect to any Dean Cash Award that shall lapse because of such postponement. 
 4.
Stockholder Rights. Neither you nor any person claiming under or through you shall be, or have any of the rights or privileges of, a stockholder of the Company in respect of this Dean Cash Award. 

5. Tax Withholding. The Employer shall have the right to deduct from all amounts paid to you in cash any amount required by law
to be withheld in respect of this Dean Cash Award as may be necessary in the opinion of the Employer to satisfy any applicable tax withholding requirements under the laws of any country, state, province, city or other jurisdiction, including but not
limited to income taxes, capital gains taxes, transfer taxes, and social security contributions that are required by law to be withheld. 
 6. Transfer of Dean Cash Award. The Dean Cash Award granted herein is not transferable. 
 7. Covenants Not to Disclose, Compete or Solicit. 
 (a) You acknowledge
that (i) the Company is engaged in a continuous program of research, development and production respecting its business throughout the United States (the foregoing, together with any other businesses in which the Company engages from the date
hereof to the date of the termination of your employment with the Company and its Subsidiaries as the “Company Business”); (ii) your work for and position with the Company and/or one of its Subsidiaries has allowed you, and will
continue to allow you, access to trade secrets of, and Confidential Information concerning the Company Business; (iii) the Company Business is national and international in scope; (iv) the Company would not have agreed to grant you this
Award but 

 

  

					
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for the agreements and covenants contained in this Agreement; and (v) the agreements and covenants contained in this Agreement are necessary and essential to protect the business, goodwill,
and customer relationships that Company and its Subsidiaries have expended significant resources to develop. The Company agrees and acknowledges that, on or following the date hereof, it will provide you with one or more of the following:
(a) authorization to access Confidential Information through a new computer password or by other means, (b) authorization to represent the Company in communications with customers and other third parties to promote the goodwill of the
business in accordance with generally applicable Company policies and (c) access to participate in certain restricted access meetings, conferences or training relating to your position with the Company. You understand and agree that if
Confidential Information were used in competition against the Company, the Company would experience serious harm and the competitor would have a unique advantage against the Company. 

(b) For purposes of this Agreement, “Confidential Information” shall mean all business records, trade secrets,
know-how, customer lists or compilations, terms of customer agreements, sources of supply, pricing or cost information, financial information or personnel data and other confidential or proprietary information used and/or obtained by you in the
course of your employment with the Company or any Subsidiary; provided that the term “Confidential Information” will not include information which (i) is or becomes publicly available other than as a result of a disclosure by you
which is prohibited by this agreement or by any other legal, contractual or fiduciary obligation that you may owe to the Company or any Subsidiary, or (ii) is widely known within one or more of the industries in which the Company or any
Subsidiary operates, or you can demonstrate was otherwise known to you prior to becoming an employee of the Company or any Subsidiary, or (iii) is or becomes available to you on a non-confidential basis from a source (other than the Company or
any Subsidiary, including any employee thereof) that is not prohibited from disclosing such information to you by a legal, contractual or fiduciary obligation to the Company or any Subsidiary. You agree not to engage in unauthorized use or
disclosure of Confidential Information, and agree that upon termination of your employment (or earlier if so requested) you will preserve and return to the Company any and all records in your possession or control, tangible and intangible,
containing any Confidential Information. You further agree not to keep or retain any copies of such records without written authorization from a duly authorized officer of the Company covering the specific item retained. 

(c) Ancillary to the foregoing and this Award, you hereby agree that, during the term of your employment with the Company or any
Subsidiary and for a period of two years

 
thereafter (the “Restricted Period”), you will not, directly or indirectly, individually or on behalf of any person or entity other than the Company or any of its Subsidiaries:
(i) Provide Competing Services (as defined below) to any company or business (other than the Company or any Subsidiary) engaged primarily in the manufacture, distribution, sale or marketing of any of the Relevant Products (as defined below) in
the Relevant Market Area (as defined below); (ii) Approach, consult, solicit business from, or contact or otherwise communicate, directly or indirectly, in any way with any Customer (as defined below) in an attempt to (1) divert business
from, or interfere with any business relationship of the Company or any of its Subsidiaries, or (2) convince any Customer to change or alter any of such Customer’s existing or prospective contractual terms and conditions with the Company
or any Subsidiary; or (iii) Solicit, induce, recruit or encourage, either directly or indirectly, any employee of the Company or any Subsidiary to leave his or her employment with the Company or any Subsidiary or employ or offer to employ any
employee of the Company or any Subsidiary. For the purposes of this section, an employee of the Company or any Subsidiary shall be deemed to be an employee of the Company or any Subsidiary while employed by the Company and for a period of sixty
(60) days thereafter. 
 (d) For purposes of this Agreement, the following terms shall have the meanings indicated:

 (i) to provide “Competing Services” means to provide, manage, supervise, or consult about (whether as an
employee, owner, partner, stockholder, investor, joint venturer, lender, director, manager, officer, employee, consultant, independent contractor, representative or agent, or otherwise) any services that are similar in purpose or function to
services you provided to the Company in the two year period preceding the termination of your employment, that might involve the use or disclosure of Confidential Information, or that would involve business opportunities related to Relevant
Products. 
 (ii) “Customer” means any and all persons or entities who purchased any Relevant Product from
the Company or any Subsidiary during the term of your employment with the Company or any Subsidiary and as to whom, within the course of the last two (2) years of your employment with the Company or any Subsidiary, (a) you or someone under
your supervision had contact and/or (b) you received or had access to Confidential Information. 
 (iii)
“Relevant Product(s)” means (i) milk or milk-based beverages, (ii) creams, (iii) dairy or other non-dairy coffee creamers or other coffee whiteners, (iv) ice cream or ice cream novelties, (v) ice cream mix,
(vi) cultured dairy 

 

  

					
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products, (vii) soy milk or any other soy-based beverage or cultured soy product, (viii) organic dairy products (including milk, cream and cultured dairy products) or organic juice,
and/or (ix) any other product not listed above that was developed or sold by the Company or a Subsidiary within the course of the last two (2) years of your employment with the Company or any Subsidiary. 

(iv) “Relevant Market Area” means the counties (or county equivalents) in the United States where the Company does business
that you assist in providing services to and/or receive Confidential Information about in the two year period preceding the termination of your employment so long as the Company continues to do business in that geographic market area during the
Restricted Period. 
 (e) Notwithstanding the foregoing, (1) the restrictions of subsection 7(a) above shall not prohibit
your employment with a non-competing, independently operated subsidiary, division, or unit of a diversified company (even if other separately operated portions of the diversified company are involved in Relevant Products) if in advance of your
providing any services, you and the diversified company that is going to employ you both provide the Company with written assurances that are satisfactory to the Company establishing that (a) the entity, subsidiary, division, or unit of the
diversified business that you are going to be employed in is not involved in Relevant Products or preparing to become involved in Relevant Products, and (b) your position will not involve Competing Services of any kind, and (2) you are not
prohibited from owning, either of record or beneficially, not more than five percent (5%) of the shares or other equity of any publicly traded company. Your obligation under this Section 7 shall survive the vesting or forfeiture of your
RSUs and/or the distribution or forfeiture of the underlying Shares. 
 (f) Any breach of any provision of this Section 7
will result in immediate and complete forfeiture of your unvested Dean Cash Award . In addition, you hereby agree that if you violate any provision of this Section 7, the Company will be entitled to injunctive relief, specific performance, or
such other legal and equitable relief as is needed to prevent or enjoin any violation of the provisions of this Agreement in addition to and not to the exclusion of any other remedy that may be allowed by law for damages experienced prior to the
issuance of injunctive relief. You also agree that, if you are found to have breached any of the time-limited covenants in this Section 7, the time period during which you are subject to such covenant shall be extended by one day for each day
you are found to have violated such restriction, up to a maximum of two years. 
 (g) You acknowledge that you have given
careful consideration to the restraints imposed by this Agreement,

 
and you fully agree that they are necessary for the reasonable and proper protection of the business of the Company and its Subsidiaries. The restrictions set forth herein shall be construed as a
series of separate and severable covenants. You agree that each and every restraint imposed by this Agreement is reasonable with respect to subject matter, time period, and geographical area. Except as expressly set forth herein, the restraints
imposed by this Agreement shall continue during their full time periods and throughout the geographical area set forth in this Agreement. 
 (h) You stipulate and agree that one of the purposes of this Agreement is to fully resolve and bring finality to any concerns over the enforceability of the Restrictive Covenants. You also stipulate and
agree that (a) the enforceability of the Restrictive Covenants and (b) the Company’s agreement herein to provide you with this Dean Cash Award are mutually dependent clauses and obligations without which this Agreement would not be
made by the parties. Accordingly, you agree not to sue otherwise pursue a legal claim to set aside or avoid enforcement of the Restrictive Covenants. And, in the event that you or any other party pursues a legal challenge to the enforceability of
any material provision of the restrictions in Section 7 of this Agreement and a material provision is found unenforceable by a court of law or other legally binding authority such that you are no longer bound by a material provision of
Section 7, then (1) your unvested Dean Cash Award shall be forfeited and (2) you hereby agree that you will return to the Company the cash value of any Award paid to you hereunder (less any taxes paid by you). The foregoing is not
intended as a liquidated damage remedy but is instead a return-of-gains and contractual recission remedy due to the mutual dependent nature of the subject provisions in the Agreement. 

(i) If any of the Restrictive Covenants are deemed unenforceable as written, you and the Company expressly authorize the court to
revise, delete, or add to the restrictions contained in this Section 7 to the extent necessary to enforce the intent of the parties and to provide the goodwill, Confidential Information, and other business interests of the Company and its
Subsidiaries with effective protection. And, in the event that such reformation of the restriction is acceptable to the Company, then the forfeiture and rescission (return of gain) remedies provided for in subsection 7(h) above shall not apply.

 (j) The provisions of this Section 7 are not intended to override, supercede, reduce, modify or affect in any manner
any other non-competition or non-solicitation agreement between you and the Company or any Subsidiary, and instead are intended to supplement any such agreements.

 

  

					
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 8. Assignment of Intellectual Property Rights. In consideration of the granting of
this Dean Cash Award, you hereby agree that all right, title and interest to any and all products, improvements or processes (“Intellectual Property”) whatsoever, discovered, invented or conceived during the course of employment
with the Company or any of its Subsidiaries, relating to the subject matter of the business of the Company or any of its Subsidiaries or which may be directly or indirectly utilized in connection therewith, are vested in the Company, and you hereby
forever waive any and all interest you have in such Intellectual Property and agree to assign such Intellectual Property to the Company. In addition, all writings produced in the course of work or employment for the Company or any Subsidiary are
works produced for hire and the property of the Company and its Subsidiaries, including any copyrights for those writings. 

9. Miscellaneous. 
 (a) No Guaranteed Employment. Nothing contained in this Agreement shall affect the right of the Company to terminate your employment at any time, with or without Cause, or shall be deemed to create
any rights to employment on your part. The rights and obligations arising under this Agreement are not intended to and do not affect the employment relationship that otherwise exists between the Company and you, whether such employment relationship
is at will or defined by an employment contract. Moreover, this Agreement is not intended to and does not amend any existing employment contract between the Company and you. To the extent there is a conflict between this Agreement and such an
employment contract, the employment contract shall govern and take priority. 
 (b) Notices. Any notice to be given to
the Company under the terms of this Agreement shall be addressed to the Company at its principal executive offices, and any notice to be given to you shall be addressed to you at the address set forth on the attached Notice of Grant, or at such
other address for a party as such party may hereafter designate in writing to the other. Any such notice shall be deemed to have been duly given if mailed, postage prepaid, addressed as aforesaid. 

(c) Binding Agreement. Subject to the limitations in this Agreement on the transferability by you of the Award granted herein,
this Agreement shall be binding upon and inure to the benefit of the representatives, executors, successors or beneficiaries of the parties hereto. 
 (d) Governing Law. The interpretation, performance and enforcement of this Agreement shall be governed by the laws of the State of Delaware and the United States, as applicable, without
reference to the conflict of laws provisions thereof. 

 (e) Severability. Except as otherwise expressly provided for herein in
Section 7 above, if any provision of this Agreement is declared or found to be illegal, unenforceable or void, in whole or in part, then the parties shall be relieved of all obligations arising under such provision, but only to the extent that
it is illegal, unenforceable or void, it being the intent and agreement of the parties that this Agreement shall be deemed amended by modifying such provision to the extent necessary to make it legal and enforceable while preserving its intent or,
if that is not possible, by substituting therefor another provision that is legal and enforceable and achieves the same objectives. 
 (f) Interpretation. All section titles and captions in this Agreement are for convenience only, shall not be deemed part of this Agreement, and in no way shall define, limit, extend or describe the
scope or intent of any provisions of this Agreement. 
 (g) Entire Agreement. Except as otherwise provided for in
Section 7 above, this Agreement constitutes the entire agreement among the parties hereto pertaining to the subject matter hereof and supersedes all prior agreements and understandings pertaining thereto. 

(h) No Waiver. No failure by any party to insist upon the strict performance of any covenant, duty, agreement or condition of
this Agreement or to exercise any right or remedy consequent upon a breach thereof shall constitute waiver of any such breach or any other covenant, duty, agreement or condition. 

(i) Counterparts. This Agreement may be executed in counterparts, all of which together shall constitute one agreement binding
on all the parties hereto, notwithstanding that all such parties are not signatories to the original or the same counterpart. 

(j) Relief. In addition to all other rights or remedies available at law or in equity, the Company shall be entitled to
injunctive and other equitable relief to prevent or enjoin any violation of the provisions of this Agreement. 
 END OF
AGREEMENT 

 

  

					
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 2011 DEAN CASH AWARD AGREEMENT 

 

 This AGREEMENT (this “Agreement”), effective as of the date indicated on
the Notice of Grant delivered herewith (the “Notice of Grant”), is made and entered into by and between Dean Foods Company, a Delaware corporation (the “Company”), and the individual named on the Notice of Grant
(“you”). 
 WITNESSETH: 
 WHEREAS, the Compensation Committee of the Board of Directors of the Company has determined to grant awards of cash (“Dean Cash”), subject to the terms and conditions as set forth herein to
certain selected Employees of the Company and any business entity in which the Company possesses directly or indirectly fifty percent (50%) or more of the total combined voting power (a “Subsidiary”); and 

WHEREAS, the Committee has selected you to receive a Dean Cash Award described in this Agreement and in the Notice of Grant.

 NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements herein contained, and as an
inducement to you to continue as an employee of the Company (or its Subsidiaries), you and the Company hereby agree as follows: 
 1. Grant of Award. The Company hereby grants to you and you hereby accept, subject to the terms and conditions set forth in this Agreement, the amount of Dean Cash shown on the Notice of Grant,
effective as of the date indicated on the Notice of Grant (the “Date of Grant”). You must accept this Dean Cash Award in the manner designated by the Company in the Notice of Grant (e.g. electronic acceptance) not later than 90 days
after the Date of Grant, or electronic notification of such Grant, whichever occurs later, or this Award will be rendered void and without effect. Subject to the provisions of Sections 2(c), 2(d) and 3(b) hereof, this Dean Cash Award is irrevocable.

 2. Vesting. 
 (a) Regular Vesting. Except as otherwise provided in your Notice of Grant or this Section 2, your Dean Cash Award will vest in full on the date set forth in your Notice of Grant.

 (b) Accelerated Vesting. 

(1) Unless otherwise determined by the Committee, or except as provided in another written agreement between you and your Employer, if
your Service terminates by reason of Death, Disability or Retirement prior to the vesting date of your Dean Cash Award set forth in the Notice of Grant, you shall be entitled to receive a payment in respect of your unvested Dean Cash Award
determined in accordance with this Section 2(b)(1). Such payment shall be equal to the amount determined by multiplying the amount of the Dean Cash Award set forth in the Notice of Grant, multiplied by a fraction, the numerator of which is the
number of your full months of Service completed beginning on the date of grant through and including the date of your termination of employment, and the denominator of which is the total number of full months that had been scheduled to occur during
the vesting period without regard to this Section 2(b)(1); provided that, for purposes of this fraction, a partial month of Service consisting of 15 or more days of Service shall be treated as though a full month of Service. Payment of
such pro-rated amount shall be made as soon as administratively practicable following your date of termination, except that, if you are a specified employee (within the meaning of Section 409A of the Code) and your right to receive a payment
under this Section 2(b)(1) arises due to your Retirement, then notwithstanding the foregoing or Section 3(a), such payment shall not be made prior to the six month anniversary of your date of your separation from service. For purposes of
this Agreement, “Retirement” shall be defined as your retirement from employment or other service to the Company or any Subsidiary after you reach (i) age fifty-five (55), so long as you shall also have completed at least ten
(10) years of continuous service immediately prior to your retirement, or (ii) age sixty-five (65). “Disability” shall be defined as your permanent and total disability (within the meaning of Section 22(e)(3) of the
Code). 
 (2) In addition to the vesting provisions contained in Sections 2(a), 2(b)(1) and 2(b)(2) above, your unvested Dean
Cash Award will automatically and immediately vest in full upon a Change in Control. 

 

  

					
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 (c) Forfeiture of Unvested Dean Cash Awards. Unless otherwise determined by the
Committee, or except as provided in an agreement between you and your Employer, if your Service terminates for any reason other than Death, Disability or Retirement during the Restriction Period, your unvested Dean Cash Award held will be forfeited
and canceled as of the date of such termination of Service. Notwithstanding anything to the contrary in this Section 2, your rights with respect to any unvested portion of your Dean Cash Award shall in all events be immediately forfeited and
canceled as of the date of your termination of Service for Cause as defined in Section 3(b) below. 
 (d)
Repayment. Participant agrees and acknowledges that this Award Agreement is subject to any policies that the Committee may adopt from time to time with respect to the repayment to the Company of any benefit received hereunder, including
“clawback” policies. 
 3. Value; Forfeiture. 

(a) Payment Upon Vesting. The Company will pay to you (or to your estate in the event of your Death) the cash amount set forth
on the Notice of Grant that vested on such vesting date as soon as administratively practicable after such vesting date but in no event later than the fifteenth day of the third calendar month beginning after the calendar year in which the Dean Cash
Award shall have become vested. 
 (b) Forfeiture of Shares. Notwithstanding any provision of this Agreement to the
contrary, if you are discharged from the employment of the Company or any of its Subsidiaries for Cause (as defined below), your rights in your unvested Dean Cash Award will be immediately forfeited and canceled as of such termination date. For
purposes of this Agreement, “Cause” means your (i) willful failure to perform substantially your duties; (ii) willful or serious misconduct that has caused, or could reasonably be expected to result in, material injury to
the business or reputation of an Employer; (iii) conviction of, or entering a plea of guilty or nolo contendere to, a crime constituting a felony; (iv) breach of any written covenant or agreement with an Employer, any material
written policy of any Employer or any Employer’s code of conduct or code of ethics, or (v) failure to cooperate with an Employer in any internal investigation or administrative, regulatory or judicial proceeding. In addition, your Service
shall be deemed to have terminated for Cause if, after your Service has terminated (for a reason other than Cause), facts and circumstances are discovered that would have justified a termination for Cause. 

(c) Compliance With Law. The granting of this Dean Cash Award shall be subject to all applicable federal, state and foreign
country laws, rules and regulations, and to

 
such approvals by any regulatory or governmental agency as may be required. The Company, in its discretion, may postpone the granting and payment with respect to the Dean Cash Award, and neither
the Company nor its directors or officers shall have any obligation or liability to you with respect to any Dean Cash Award that shall lapse because of such postponement. 
 4. Stockholder Rights. Neither you nor any person claiming under or through you shall be, or have any of the rights or privileges of, a stockholder of the Company in respect of this Dean
Cash Award. 
 5. Tax Withholding. The Employer shall have the right to deduct from all amounts paid to you in
cash any amount required by law to be withheld in respect of this Dean Cash Award as may be necessary in the opinion of the Employer to satisfy any applicable tax withholding requirements under the laws of any country, state, province, city or other
jurisdiction, including but not limited to income taxes, capital gains taxes, transfer taxes, and social security contributions that are required by law to be withheld. 
 6. Transfer of Dean Cash Award. The Dean Cash Award granted herein is not transferable. 
 7. Assignment of Intellectual Property Rights. In consideration of the granting of this Dean Cash Award, you hereby agree that all right, title and interest to any and all products, improvements or
processes (“Intellectual Property”) whatsoever, discovered, invented or conceived during the course of employment with the Company or any of its Subsidiaries, relating to the subject matter of the business of the Company or any of
its Subsidiaries or which may be directly or indirectly utilized in connection therewith, are vested in the Company, and you hereby forever waive any and all interest you have in such Intellectual Property and agree to assign such Intellectual
Property to the Company. In addition, all writings produced in the course of work or employment for the Company or any Subsidiary are works produced for hire and the property of the Company and its Subsidiaries, including any copyrights for those
writings. 
 8. Miscellaneous. 
 (a) No Guaranteed Employment. Nothing contained in this Agreement shall affect the right of the Company to terminate your employment at any time, with or without Cause, or shall be deemed to create
any rights to employment on your part. The rights and obligations arising under this Agreement are not intended to and do not affect the employment relationship that otherwise exists between the Company and you, whether such employment relationship
is at will or defined by an employment contract. Moreover, this 

 

  

					
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Agreement is not intended to and does not amend any existing employment contract between the Company and you. To the extent there is a conflict between this Agreement and such an employment
contract, the employment contract shall govern and take priority. 
 (b) Notices. Any notice to be given to the Company
under the terms of this Agreement shall be addressed to the Company at its principal executive offices, and any notice to be given to you shall be addressed to you at the address set forth on the attached Notice of Grant, or at such other address
for a party as such party may hereafter designate in writing to the other. Any such notice shall be deemed to have been duly given if mailed, postage prepaid, addressed as aforesaid. 

(c) Binding Agreement. Subject to the limitations in this Agreement on the transferability by you of the Award granted herein,
this Agreement shall be binding upon and inure to the benefit of the representatives, executors, successors or beneficiaries of the parties hereto. 
 (d) Governing Law. The interpretation, performance and enforcement of this Agreement shall be governed by the laws of the State of Delaware and the United States, as applicable, without
reference to the conflict of laws provisions thereof. 
 (e) Severability. If any provision of this Agreement is
declared or found to be illegal, unenforceable or void, in whole or in part, then the parties shall be relieved of all obligations arising under such provision, but only to the extent that it is illegal, unenforceable or void, it being the intent
and agreement of the parties that this Agreement shall be deemed amended by modifying such provision to the extent necessary to make it legal and enforceable while preserving its intent or, if that is not possible, by substituting therefor another
provision that is legal and enforceable and achieves the same objectives. 

 (f) Interpretation. All section titles and captions in this Agreement are for
convenience only, shall not be deemed part of this Agreement, and in no way shall define, limit, extend or describe the scope or intent of any provisions of this Agreement. 
 (g) Entire Agreement. This Agreement constitutes the entire agreement among the parties hereto pertaining to the subject matter hereof and supersedes all prior agreements and understandings
pertaining thereto. 
 (h) No Waiver. No failure by any party to insist upon the strict performance of any covenant,
duty, agreement or condition of this Agreement or to exercise any right or remedy consequent upon a breach thereof shall constitute waiver of any such breach or any other covenant, duty, agreement or condition. 

(i) Counterparts. This Agreement may be executed in counterparts, all of which together shall constitute one agreement binding
on all the parties hereto, notwithstanding that all such parties are not signatories to the original or the same counterpart. 

(j) Relief. In addition to all other rights or remedies available at law or in equity, the Company shall be entitled to
injunctive and other equitable relief to prevent or enjoin any violation of the provisions of this Agreement. 
 END OF
AGREEMENT 

 

  

					
		 	Page 3 of 3	  	2011 Dean CashForm of Director's Non-Qualified Stock Option Agreement

 Exhibit 10.16 

 

			
	

	  	

 2011 DIRECTOR’S NON-QUALIFIED STOCK OPTION AGREEMENT 

 

 THIS AGREEMENT (the “Agreement”), effective as of the date indicated on
the attached Notice of Grant, is made and entered into by and between Dean Foods Company, a Delaware corporation (the “Company”), and the individual named on the cover page of this Agreement (“you”). 

WITNESSETH: 

WHEREAS, the Company has adopted and approved the Dean Foods Company 2007 Stock Incentive Plan (the “Plan”), which was
adopted by the Company’s Board of Directors (the “Board”) and approved as required by the Company’s stockholders, and which provides for the grant of non-qualified stock options (“Options”) and other forms
of stock-based compensation to certain Employees and non-employee Directors of the Company and its Subsidiaries (Capitalized terms used and not otherwise defined in this Agreement shall have the meanings set forth in the Plan); and 

WHEREAS, the Options and other Awards provided for under the Plan are intended to comply with the requirements of Rule 16b-3 under the
Securities Exchange Act of 1934, as amended; and 
 WHEREAS, you are a non-employee Director; and 

WHEREAS, the Committee has awarded you Options as described in this Agreement and the attached Notice of Grant. 

NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements herein contained, and to promote the
success of the business of the Company and its Subsidiaries, the parties hereby agree as follows: 
 1. Grant of
Option. The Company hereby grants to you, and you hereby accept, effective as of the date shown on the attached Notice of Grant (the “Date of Grant”) and on the terms and subject to the conditions, limitations and restrictions
set forth in the Plan and in this Agreement, an Option to purchase all or any portion of the number of shares shown on the Notice of Grant for the per share price shown on the Notice of Grant (the “Exercise Price”).

 2. Vesting. The Option immediately vests in full with respect to all of the
underlying shares of Stock subject thereto. 
 3. Exercise. In order to exercise the Option with respect to any vested
portion, you must notify the Company in writing, either sent to the Corporate Secretary’s attention at the Company’s principal office, or via the internet through E*Trade (the Company’s plan broker) at www.etrade.com. No Stock
shall be delivered pursuant to any exercise of an Option until payment in full of the exercise price therefor is received by the Company. At the time of exercise, you must pay to the Company the exercise price (as set forth on the Notice of Grant)
times the number of vested shares for which the Option is being exercised. Such payment may be made in cash or its equivalent or, if permitted by the Committee, (i) by exchanging shares of Stock you have owned for at least six months (or for
such greater or lesser period as the Committee may determine from time to time) and which are not the subject of any pledge or other security interest, (ii) through an arrangement with a broker approved by the Company whereby payment of the
exercise price is accomplished with the proceeds of the sale of Stock or (iii) by a combination of the foregoing, provided that the combined value of all cash and cash equivalents and the fair market value of any Stock tendered to the Company,
valued as of the date of such tender, is at least equal to such exercise price of the portion of the Option being exercised. 

4. Expiration of Option. The Option shall expire, and shall not be exercisable with respect to any vested portion as to which
the Option has not been exercised, on the first to occur of: 
 (a) the tenth (10th) anniversary of the Date of Grant; 

(b) Ninety (90) days after your term as a non-employee Director of the Company has expired or been otherwise terminated for
any reason other than death, Retirement or Disability; 
 (c) Twelve (12) months following the date your term as a
non-employee Director of the Company has expired or been otherwise terminated, if such cessation of service is due to your death or Disability; or

 

  

					
		 	Page 1 of 3	  	2011 NQSO - DIR

			
	

	  	

  

 (d) the earlier of (i) the tenth (10th) anniversary of the Date of Grant, or (ii) the first
(1st) anniversary of your death for any Options you
hold upon Retirement. 
 For purposes of this Agreement, “Retirement” shall be defined as your retirement
from employment or other service to the Company or any Subsidiary after you reach the age of sixty-five (65). “Disability” shall be defined as your permanent and total disability (within the meaning of Section 22(e)(3) of the
Code). 
 Upon your death, any vested Option exercisable on the date of death may be exercised by your estate or by a person
who acquires the right to exercise such Option by bequest or inheritance or by reason of your death, provided that such exercise occurs within the shorter of the remaining Option term of the Option and twelve (12) months after the date of your
death. 
 Notwithstanding any provision of the Plan or this Agreement to the contrary, you may not, under any circumstances,
exercise a vested Option following your removal as a non-employee Director if you are removed as a non-employee Director due to your willful or intentional fraud, embezzlement, violation of the Company’s Code of Ethics, or other conduct
seriously detrimental to the Company or any Subsidiary. The determination of whether or not you will be removed as a non-employee Director for any of the reasons specified in the preceding sentence will be made by the Committee. 

5. Tax Withholding. Any provision of this Agreement to the contrary notwithstanding, the Company may take such steps as it deems
necessary or desirable for the withholding of any taxes that it is required by law or regulation of any governmental authority, federal, state or local, domestic or foreign, to withhold in connection with any of the shares of Stock subject hereto.

 6. Transfer of Option. The Option is not transferable except in accordance with the provisions of the Plan.

 7. Certain Legal Restrictions. The Plan, the granting and exercising of this Option, and any obligations of the
Company under the Plan, shall be subject to all applicable federal, state and foreign country laws, rules and regulations, and to such approvals by any regulatory or governmental agency as may be required, and to any rules or regulations of any
exchange on which the Stock is listed. The Company, in its discretion, may postpone the granting and exercising of this Option, the issuance or delivery of Stock under this Option or any other

 
action permitted under the Plan to permit the Company, with reasonable diligence, to complete such stock exchange listing or registration or qualification of such Stock or other required action
under any federal, state or foreign country law, rule or regulation and may require you to make such representations and furnish such information as it may consider appropriate in connection with the issuance or delivery of Stock in compliance with
applicable laws, rules and regulations. The Company shall not be obligated by virtue of any provision of the Plan to recognize the exercise of this Option or to otherwise sell or issue Stock in violation of any such laws, rules or regulations, and
any postponement of the exercise or settlement of this Option under this provision shall not extend the term of the Option. Neither the Company nor its directors or officers shall have any obligation or liability to you with respect to any Option
(or Stock issuable thereunder) that shall lapse because of such postponement. 
 8. Plan Incorporated. You accept the
Option subject to all the provisions of the Plan, which are incorporated into this Agreement, including the provisions that authorize the Committee to administer and interpret the Plan and which provide that the Committee’s decisions,
determinations and interpretations with respect to the Plan are final and conclusive on all persons affected thereby. Except as otherwise set forth in this Agreement, terms defined in the Plan have the same meanings herein. 

9. Miscellaneous. 
 (a) No ISO Treatment. The Option is intended to be a non-qualified stock option under applicable tax laws, and it is not to be characterized or treated as an incentive stock option under such laws.

 (b) No Stockholder Rights. Neither you nor any person claiming under or through you shall be or shall have any of
the rights or privileges of a stockholder of the Company in respect of any of the shares issuable upon the exercise of the Option herein unless and until certificates representing such shares shall have been issued and delivered to you or your
agent. 
 (c) Notices. Any notice to be given to the Company under the terms of this Agreement or any delivery of the
Option to the Company shall be addressed to the Company at its principal executive offices, and any notice to be given to you shall be addressed to you at the address set forth beneath his or her signature hereto, or at such other address for a
party as such party may hereafter designate in writing to the other. Any such notice shall be deemed to have been duly given if mailed, postage prepaid, addressed as aforesaid.

 

  

					
		 	Page 2 of 3	  	2011 NQSO - DIR

			
	

	  	

  

 
 (d) Binding Agreement. Subject to the limitations in this Agreement and the Plan
on the transferability by you of the Option and any shares of Stock, this Agreement shall be binding upon and inure to the benefit of your representatives, executors, successors or beneficiaries. 

(e) Governing Law. The interpretation, performance and enforcement of this Agreement shall be governed by the laws of the
State of Delaware and the United States, as applicable, without reference to the conflict of laws provisions thereof. 

(f) Severability. If any provision of this Agreement is declared or found to be illegal, unenforceable or void, in whole or in
part, then the parties shall be relieved of all obligations arising under such provision, but only to the extent that it is illegal, unenforceable or void, it being the intent and agreement of the parties that this Agreement shall be deemed amended
by modifying such provision to the extent necessary to make it legal and enforceable while preserving its intent or, if that is not possible, by substituting therefor another provision that is legal and enforceable and achieves the same objectives.

 (g) Interpretation. All section titles and captions in this Agreement are for convenience only, shall not be deemed
part of this Agreement, and in no way shall define, limit, extend or describe the scope or intent of any provisions of this Agreement.

 (h) Entire Agreement. This Agreement constitutes the entire agreement among the
parties hereto pertaining to the subject matter hereof and supersedes all prior agreements and understandings pertaining thereto. 
 (i) No Waiver. No failure by any party to insist upon the strict performance of any covenant, duty, agreement or condition of this Agreement or to exercise any right or remedy consequent upon a
breach thereof shall constitute waiver of any such breach or any other covenant, duty, agreement or condition. 
 (j)
Counterparts. This Agreement may be executed in counterparts, all of which together shall constitute one agreement binding on all the parties hereto, notwithstanding that all such parties are not signatories to the original or the same
counterpart. 
 (k) Relief. In addition to all other rights or remedies available at law or in equity, the Company
shall be entitled to injunctive and other equitable relief to prevent or enjoin any violation of the provisions of this Agreement.

 

 [END OF AGREEMENT] 

  

					
		 	Page 3 of 3	  	2011 NQSO - DIR

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