Document:

Employment Agreement of James R. Darsey

 Exhibit 10(xxii) 

EXECUTIVE EMPLOYMENT AGREEMENT 
 THIS EXECUTIVE EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into between NUCOR CORPORATION, a Delaware corporation with its principal place of business in Charlotte,
North Carolina, on behalf of itself and each of its affiliates and subsidiaries (all such entities, collectively, “Nucor”), and JAMES R. DARSEY (“Executive”), a resident of North Carolina. 

WHEREAS, Executive has heretofore been employed at Nucor Corporation’s corporate headquarters in Charlotte, North Carolina as an
at-will employee of Nucor in the position of Vice President of Nucor Corporation and President of Nucor Corporation’s Vulcraft/Verco Group (the “Prior Position”); and 

WHEREAS, Nucor has offered Executive a promotion to the position of Executive Vice President of Bar Products effective September 1,
2010, contingent upon Executive’s execution of this Agreement, and Executive has accepted the promotion; and 
 WHEREAS,
Nucor Corporation’s Board of Directors (the “Board”) has approved Executive’s promotion to the position of Executive Vice President of Bar Products contingent upon Executive’s execution of this Agreement; and

 WHEREAS, prior to the effective date of the promotion, Executive and Nucor discussed the requirements of the restrictive
covenants contained in this Agreement as a condition to Executive’s promotion; and 
 WHEREAS, Nucor’s promotion of
Executive entitles Executive to receive increased compensation and benefits that Executive did not have prior to his promotion; and 
 WHEREAS, Executive agrees and acknowledges that in his new position of Executive Vice President of Bar Products he will acquire greater access to and knowledge of Nucor’s trade secrets and
confidential information which Executive did not have prior to his promotion; 
 WHEREAS, the parties wish to formalize their
employment relationship in writing and for Nucor to employ Executive under the terms and conditions set forth below; and 
 NOW,
THEREFORE, in consideration for the promises and mutual agreements contained herein, the parties agree, effective as of September 1, 2010, as follows: 
 1. Employment. Nucor agrees to employ Executive in the position of Executive Vice President of Bar Products, and Executive agrees to accept employment in this position, subject to the terms and
conditions set forth in this Agreement, including the confidentiality, non-competition and non-solicitation provisions which Executive acknowledges were discussed in detail prior to and made an express condition of his promotion to Executive Vice
President of Bar Products. Executive acknowledges that the Board’s approval of Executive’s promotion to Executive Vice President of Bar Products is conditioned upon Executive’s execution of this Agreement. 

2. Compensation and Benefits During Employment. Nucor will provide the following compensation and benefits to Executive:

 (a) Nucor will pay Executive a base salary of Three Hundred Sixteen Thousand Seven Hundred Dollars ($316,700)
per year, paid not less frequently than monthly in accordance with Nucor’s normal payroll practices, subject to withholding by Nucor and other deductions as 

  

					
		 		 	

 
required by law. The parties acknowledge and agree that this amount exceeds the base salary Executive was entitled to receive in the Prior Position. Executive’s base salary is subject to
adjustment up or down by the Board at its sole discretion and without notice to Executive. 
 (b) Executive will
be a participant in, and eligible to receive awards of incentive compensation under and in accordance with the applicable terms and conditions of, Nucor’s senior officer annual and long term incentive compensation plans, as modified from time
to time by, and in the sole discretion of, the Board. 
 (c) Executive shall be a participant in, and eligible to
receive awards of equity-based compensation under and in accordance with the applicable terms and conditions of, Nucor’s senior officer equity incentive compensation plans, as modified from time to time by, and in the sole discretion of, the
Board. 
 (d) Executive will be eligible for those employee benefits that are generally made available by Nucor
to its executive officers. 
 3. Compensation Following Termination. 

(a) From the date of Executive’s termination of employment with Nucor, whether by Executive or Nucor for any or no
reason, and provided that Executive executes and returns to Nucor a separation and release agreement in form and substance satisfactory to Nucor, in its sole discretion, releasing any and all claims Executive has or may have against Nucor at the
time of his termination of employment from Nucor, Nucor will pay Executive the Monthly Amount (as defined below) for twenty-four (24) months following Executive’s termination. The “Monthly Amount” shall be an amount equal
to (i) the product of (A) the amount of Executive’s highest base salary level during the twelve (12) month period immediately prior to his date of termination, multiplied by (B) 3.36, (ii) divided by twelve (12).
Subject to the provisions of Section 24 of this Agreement, the payments of the Monthly Amount shall be made at the end of each month following Executive’s termination of employment with Nucor on Nucor’s regular monthly payroll date.

 (b) In exchange for Nucor’s agreement to pay the Monthly Amount as set forth in this Section 3, and
other good and valuable consideration, including without limitation the compensation and benefits set forth in Section 2 of this Agreement, Executive agrees to strictly abide by the terms of Sections 8 through 13 of this Agreement. 

(c) If Executive is employed by Nucor at the time of Executive’s death, Nucor’s obligations
to make any payments of the Monthly Amount under this Agreement will automatically terminate and Executive’s estate and executors will have no rights to any payments of the Monthly Amount under this Agreement. If Executive dies during the first
twelve (12) months following Executive’s termination from employment with Nucor, then Nucor will pay Executive’s estate the payments of the Monthly Amount due pursuant to Section 3(a) of this Agreement through the end of the
twelfth (12th) month following Executive’s
termination from employment with Nucor. If Executive dies twelve (12) or more months after termination of Executive’s employment with Nucor, then Nucor’s obligations to make any payments of the Monthly Amount under Section 3(a)
of this Agreement will automatically terminate without the necessity of Nucor providing notice, written or otherwise. 
 (d) The amounts payable pursuant to this Section 3 of this Agreement shall be in addition to and not in lieu of any amounts payable to Executive pursuant to the Nucor

  

					
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Corporation Severance Plan for Senior Officers and General Managers (the “Severance Plan”), which such payments, if any, shall be governed by the terms and conditions of the
Severance Plan. 
 4. Duties and Responsibilities; Best Efforts. While employed by Nucor, Executive shall perform such
duties for and on behalf of Nucor as may be determined and assigned to Executive from time to time by the Chief Executive Officer of Nucor Corporation or the Board. Executive shall devote his full time and best efforts to the business and affairs of
Nucor. During the term of Executive’s employment with Nucor, Executive will not undertake other paid employment or engage in any other business activity without the prior written consent of the Board. 

5. Employment at Will. The parties acknowledge and agree that this Agreement does not create employment for a definite term and
that Executive’s employment with Nucor is at will and terminable by Nucor or Executive at any time, with or without cause and with or without notice, unless otherwise expressly set forth in a separate written agreement executed by Executive and
Nucor after the date of this Agreement. 
 6. Change in Executive’s Position. In the event that Nucor transfers,
demotes, promotes, or otherwise changes Executive’s compensation or position with Nucor, the restrictions and post-termination obligations set forth in Sections 8 through 13 of this Agreement shall remain in full force and effect. 

7. Recognition of Nucor’s Legitimate Interests. Executive understands and acknowledges that Nucor competes in North America
and throughout the world in the research, manufacture, marketing, sale, distribution and/or placement of steel or steel products (including but not limited to flat-rolled steel, steel shapes, structural steel, light gauge steel framing, steel plate,
steel joists and girders, steel deck, steel fasteners, metal building systems, wire rod, welded-wire reinforcement rolls and sheets, cold finished steel bars and wire, special quality bar products, guard rail, fabricated concrete reinforcement bars,
and structural welded-wire reinforcement) or steel or steel product inputs (including but not limited to scrap metal and direct reduced iron) (all such activities, collectively, the “Business”). As part of Executive’s
employment with Nucor, Executive acknowledges he will continue to have access to and gain knowledge of significant secret, confidential and proprietary information of the full range of operations of Nucor. In addition, Executive will continue to
have access to training opportunities, contact with vendors, customers and prospective vendors and customers of Nucor, in which capacity he is expected to develop good relationships with such vendors, customers and prospective vendors and customers,
and will gain intimate knowledge regarding the products and services of Nucor. Executive recognizes and agrees that Nucor has spent and will continue to spend substantial effort, time and money in developing relationships with its vendors and
customers, that many such vendors and customers have long term relationships with Nucor, and that all vendors, customers and accounts that Executive may deal with during his employment with Nucor, are the vendors, customers and accounts of Nucor.
Executive acknowledges that Nucor’s competitors would obtain an unfair advantage if Executive disclosed Nucor’s Secret Information or Confidential Information (as defined in Sections 8 and 9, respectively) to a competitor, used it on a
competitor’s behalf, or if he were able to exploit the relationships he develops as an employee of Nucor to solicit business on behalf of a competitor. 
 8. Covenant Regarding Nucor’s Secret Information. Executive recognizes and agrees that he will have continued access to certain sensitive and confidential information of Nucor (a) that is
not generally known in the steel business, which would be difficult for others to acquire or duplicate without improper means, (b) that Nucor strives to keep secret, and (c) from which Nucor derives substantial commercial benefit because
of the fact that it is not generally known (the “Secret Information”), including without limitation: (i) Nucor’s process of developing and producing raw material, and designing and manufacturing steel and iron products;
(ii) Nucor’s process for treating, processing or fabricating steel 

  

					
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and iron products; (iii) Nucor’s non-public financial data, strategic business plans, competitor analysis, sales and marketing data, and proprietary margin, pricing, and cost data; and
(iv) any other information or data which meets the definition of “trade secrets” under the North Carolina Trade Secrets Protection Act. Executive agrees that unless he is expressly authorized by Nucor in writing, Executive will not
use or disclose or allow to be used or disclosed Nucor’s Secret Information. This covenant shall survive until the Secret Information is generally known in the industry through no act or omission of the Executive or until Nucor knowingly
authorizes the disclosure of or discloses the Secret Information, without any limitations on use or confidentiality. Executive acknowledges that he did not have knowledge of Nucor’s Secret Information prior to his employment with Nucor and that
the Secret Information does not include Executive’s general skills and know-how. 
 9. Agreement to Maintain
Confidentiality. 
 (a) As used in this Agreement, “Confidential Information” shall include
all confidential and proprietary information of Nucor, including, without limitation, any of the following information to the extent not generally known to third persons: financial and budgetary information and strategies; plant design,
specifications, and layouts; equipment design, specifications, and layouts; product design and specifications; manufacturing processes, procedures, and specifications; data processing or other computer programs; research and development projects;
marketing information and strategies; customer lists; vendor lists; information about customer preferences and buying patterns; information about prospective customers, vendors and prospective vendors, or business opportunities; information about
Nucor’s costs and the pricing structure used in sales to customers; information about Nucor’s overall corporate business strategy; and technological innovations used in Nucor’s business, to the extent that such information does not
fall within the definition of Secret Information. 
 (b) During Executive’s employment with Nucor and at all
times after the termination of Executive’s employment with Nucor, (i) Executive covenants and agrees to treat as confidential all Confidential Information submitted to Executive or received, compiled, developed, designed, produced,
accessed, or otherwise discovered by the Executive from time to time while employed by Nucor, and (ii) Executive will not disclose or divulge the Confidential Information to any person, entity, firm or company whatsoever or use the Confidential
Information for Executive’s own benefit or for the benefit of any person, entity, firm or company other than Nucor. This restriction will apply throughout the world; provided, however, that if the restrictions of this
Section 9(b) when applied to any specific piece of Confidential Information would prevent Executive from using his general knowledge or skills in competition with Nucor or would otherwise substantially restrict the Executive’s ability to
fairly compete with Nucor, then as to that piece of Confidential Information only, the scope of this restriction will apply only for the Restrictive Period (as defined below) and only within the Restricted Territory (as defined below). 

(c) Executive specifically acknowledges that the Confidential Information, whether reduced to writing or maintained in the
mind or memory of Executive, and whether compiled or created by Executive, Nucor, or any of its vendors, customers, or prospective vendors or customers derives independent economic value from not being readily known to or ascertainable by proper
means by others who could obtain economic value from the disclosure or use of the Confidential Information. Executive also acknowledges that reasonable efforts have been put forth by Nucor to maintain the secrecy of the Confidential Information,
that the Confidential Information is and will remain the sole property of Nucor or any of its vendors, customers or prospective vendors or customers, as the case may be, and that any retention and/or use of Confidential Information during or after
the termination of Executive’s employment with Nucor 

  

					
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(except in the regular course of performing his duties hereunder) will constitute a misappropriation of the Confidential Information belonging to Nucor. Executive acknowledges and agrees that if
he (i) accesses Confidential Information on any Nucor computer system within thirty (30) days prior the effective date of his voluntary resignation of employment with Nucor and (ii) transmits, copies or reproduces such Confidential
Information in any manner or deletes any such Confidential Information, he is exceeding his authorized access to such computer system. 
 10. Noncompetition. 
 (a) Executive hereby agrees that for
the duration of Executive’s employment with Nucor, and for a period of twenty-four (24) months thereafter (the “Restrictive Period”), Executive will NOT, within the Restricted Territory, do any of the following:

 (i) engage in, whether as an employee, consultant, or in any other capacity, any business activity
(A) that is the same as, or is in direct competition with, any portion of the Business, and (B) in which Executive engaged in during the course of his employment with Nucor (any such activities described in this Section 10(a)(i),
“Competing Activities”); 
 (ii) commence, establish or own (in whole or in part) any business
that engages in any Competing Activities, whether (i) by establishing a sole proprietorship, (ii) as a partner of a partnership, (iii) as a member of a limited liability company, (iv) as a shareholder of a corporation (except to
the extent Executive is the holder of not more than five percent (5%) of any class of the outstanding stock of any company listed on a national securities exchange so long as Executive does not actively participate in the management or business
of any such entity) or (v) as the owner of any similar equity interest in any such entity; 
 (iii) provide
any public endorsement of, or otherwise lend Executive’s name for use by, any person or entity engaged in any Competing Activities; or 
 (iv) engage in work that would inherently call on him in the fulfillment of his duties and responsibilities to reveal, rely upon, or otherwise use any Confidential Information or Secret Information.

 (b) For purposes of this Agreement: 

(i) The term “Restricted Territory” means Executive’s geographic area of responsibility at Nucor
which Executive acknowledges extends to the full scope of Nucor operations throughout the world. “Restricted Territory” therefore consists of the following alternatives reasonably necessary to protect Nucor’s legitimate
business interests: 
 (A) Asia, Australia, Western Europe, Eastern Europe (including Russia), the Middle East,
South America, Central America and North America, where Executive acknowledges Nucor engages in the Business, but if such territory is deemed overbroad by a court of law, then 

(B) The United States, Canada, Mexico, Guatemala, Honduras, the Dominican Republic, Costa Rica, Colombia, Argentina and
Brazil, where 

  

					
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Executive acknowledges Nucor engages in the Business, but if such territory is deemed overbroad by a court of law, then; 

(C) The United States, Canada and Mexico, where Executive acknowledges Nucor engages in the Business, but if such
territory is deemed overbroad by a court of law, then; 
 (D) The contiguous United States, where Executive
acknowledges Nucor engages in the Business, but if such territory is deemed overbroad by a court of law, then; 

(E) Any state in the United States located within a three hundred (300) mile radius of a Nucor plant or facility
that engages in any aspect of the Business, but if such territory is deemed overbroad by a court of law, then; 

(F) Any state in the United States where a Customer or Prospective Customer is located. 

(ii) The term “Customer” means the following alternatives: 

(A) any and all customers of Nucor with whom Nucor is doing business at the time of Executive’s termination of
employment with Nucor, but if such definition is deemed overbroad by a court of law, then; 
 (B) any customer
of Nucor with whom Executive or Executive’s direct reports had significant contact or with whom Executive or Executive’s direct reports directly dealt on behalf of Nucor at the time of Executive’s last date of full time employment
with Nucor, but if such definition is deemed overbroad by a court of law, then; 
 (C) any customer of Nucor
with whom Executive had significant contact or with whom Executive directly dealt on behalf of Nucor at the time of Executive’s last date of full time employment with Nucor but if such definition is deemed overbroad by a court of law, then;

 (D) any customer of Nucor about whom Executive had obtained Secret Information or Confidential Information by
virtue of his employment with Nucor and with whom Executive had significant contact or with whom Executive directly dealt on behalf of Nucor at the time of Executive’s last date of full time employment; 

Provided, however, that the term “Customer” shall not include any business or entity that no
longer does business with Nucor without any direct or indirect interference by Executive or violation of this Agreement by Executive, and that ceased doing business with Nucor prior to any direct or indirect communication or contact by Executive.

 (iii) The term “Prospective Customer” means any person or entity who does not currently or
has not yet purchased the products or services of Nucor, but who, at the time of Executive’s last date of full-time employment with Nucor has been targeted by Nucor as a potential user of the products or services of Nucor, and whom Executive or
his direct reports participated in the solicitation of or on behalf of Nucor. 

  

					
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 (iv) The term “solicit” means to initiate contact for the
purpose of promoting, marketing, or selling products or services similar to those Nucor offered during the tenure of Executive’s employment with Nucor or to accept business from Customers or Prospective Customers. 

(c) Executive specifically agrees that the post-termination obligations and restrictions in this Section 10 and in
Sections 8, 9, 11, 12 and 13 will apply to Executive regardless of whether termination of employment is initiated by Nucor or Executive and regardless of the reason for termination of Executive’s employment. Further, Executive acknowledges and
agrees that Nucor’s payment of the compensation described in Section 3 is intended to compensate Executive for the limitations on Executive’s competitive activities described in this Section 10 and Sections 11 and 12 for the
Restrictive Period regardless of the reason for termination. Thus, for example, in the event that Nucor terminates Executive’s employment without cause, Executive expressly agrees that the obligations and restrictions in this Section 10
and Sections 8, 9, 11, 12 and 13 will apply to Executive notwithstanding the reasons or motivations of Nucor in terminating Executive’s employment. 
 11. Nonsolicitation. Executive hereby agrees that for the duration of Executive’s employment with Nucor, and for the Restrictive Period, Executive will NOT, within the Restricted Territory, do
any of the following: 
 (a) solicit, contact, or attempt to influence any Customer to limit, curtail, cancel, or
terminate any business it transacts with, or products it receives from Nucor; 
 (b) solicit, contact, or attempt
to influence any Prospective Customer to terminate any business negotiations it is having with Nucor, or to otherwise not do business with Nucor; 
 (c) solicit, contact, or attempt to influence any Customer to purchase products or services from an entity other than Nucor, which are the same or substantially similar to, or otherwise in competition
with, those offered to the Customer by Nucor; or 
 (d) solicit, contact, or attempt to influence any Prospective
Customer to purchase products or services from an entity other than Nucor, which are the same or substantially similar to, or otherwise in competition with, those offered to the Prospective Customer by Nucor. 

12. Antipiracy. 
 (a) Executive agrees for the duration of the Restrictive Period, Executive will not, directly or indirectly, encourage, contact, or attempt to induce any employees of Nucor (i) with whom Executive
had regular contact with at the time of Executive’s last date of full time employment with Nucor, and (ii) who are employed by Nucor at the time of the encouragement, contact or attempted inducement, to end their employment relationship
with Nucor. 
 (b) Executive further agrees for the duration of the Restrictive Period not to hire for any reason
any employees described in Section 12(a) of this Agreement. 
 13. Assignment of Intellectual Property Rights.

 (a) Executive hereby assigns to Nucor Executive’s entire right, title and interest, including copyrights
and patents, in any idea, invention, design of a useful article (whether the 

  

					
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design is ornamental or otherwise), and any other work of authorship (collectively the “Developments”), made or conceived solely or jointly by Executive at any time during
Executive’s employment by Nucor (whether prior or subsequent to the execution of this Agreement), or created wholly or in part by Executive, whether or not such Developments are patentable, copyrightable or susceptible to other forms of
protection, where the Developments: (i) were developed, invented, or conceived within the scope of Executive’s employment with Nucor; (ii) relate to Nucor’s actual or demonstrably anticipated research or development; or
(iii) result from any work performed by Executive on Nucor’s behalf. 
 (b) The assignment requirement
in Section 13(a) shall not apply to an invention that Executive developed entirely on his own time without using Nucor’s equipment, supplies, facilities or Secret Information or Confidential Information except for those inventions that
(i) relate to Nucor’s business or actual or demonstrably anticipated research or development, or (ii) result from any work performed by Executive for Nucor. 

(c) In connection with any of the Developments assigned pursuant to Section 13(a): (i) Executive will promptly
disclose them to Nucor’s management; and (ii) Executive will, on Nucor’s request, promptly execute a specific assignment of title to Nucor or its designee, and do anything else reasonably necessary to enable Nucor or its designee to
secure a patent, copyright, or other form of protection therefore in the United States and in any other applicable country. 
 (d) Nothing in this Section 13 is intended to waive, or shall be construed as waiving, any assignment of any Developments to Nucor implied by law. 

14. Severability. It is the intention of the parties to restrict the activities of Executive only to the extent reasonably
necessary for the protection of Nucor’s legitimate interests. The parties specifically covenant and agree that should any of the provisions in this Agreement be deemed by a court of competent jurisdiction too broad for the protection of
Nucor’s legitimate interests, the parties authorize the court to narrow, limit or modify the restrictions herein to the extent reasonably necessary to accomplish such purpose. In the event such limiting construction is impossible, such invalid
or unenforceable provision shall be deemed severed from this Agreement and every other provision of this Agreement shall remain in full force and effect. 
 15. Enforcement. Executive understands and agrees that any breach or threatened breach by Executive of any of the provisions of Sections 8 through 13 of this Agreement shall be considered a
material breach of this Agreement, and in the event of such a breach or threatened breach of this Agreement, Nucor shall be entitled to pursue any and all of its remedies under law or in equity arising out of such breach. If Nucor pursues either a
temporary restraining order or temporary injunctive relief, then Executive agrees to expedited discovery with respect thereto and waives any requirement that Nucor post a bond. Executive further agrees that in the event of his breach of any of the
provisions of Sections 8 through 13 of this Agreement, unless otherwise prohibited by law: 
 (a) Nucor shall be
entitled to (i) cancel any unexercised stock options granted under any senior officer equity incentive compensation plan from and after the date of this Agreement (the “Post-Agreement Date Option Grants”), (ii) cease
payment of any Monthly Amounts otherwise due hereunder, (iii) seek other appropriate relief, including, without limitation, repayment by Executive of any (A) Monthly Amounts already paid hereunder and (B) benefits already paid under
any severance or similar benefit plans; and 
 (b) Executive shall (i) forfeit any (A) unexercised
Post-Agreement Date Option Grants and (B) any shares of restricted stock or restricted stock units granted under any senior 

  

					
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officer equity incentive compensation plan that vested during the six (6) month period immediately preceding Executive’s termination of employment (the “Vested Stock”)
and (ii) forfeit and immediately return upon demand by Nucor any profit realized by Executive from the exercise of any Post-Agreement Date Option Grants or sale or exchange of any Vested Stock during the six (6) month period preceding
Executive’s breach of any of the provisions of Sections 8 through 13 of this Agreement. 
 Executive agrees that any breach or threatened
breach of any of the provisions of Sections 8 through 13 will cause Nucor irreparable harm which cannot be remedied through monetary damages and the alternative relief set forth in Sections 15(a) and (b) shall not be considered an adequate
remedy for the harm Nucor would incur. Executive further agrees that such remedies in Sections 15(a) and (b) will not preclude injunctive relief. 
 If Executive breaches or threatens to breach any of the provisions of Sections 10, 11 or 12 of this Agreement and Nucor obtains an injunction, preliminary or otherwise, ordering Executive to adhere to the
restrictive period required by the applicable paragraph, then the applicable restrictive period will be extended by the number of days that have elapsed from the date of Executive’s termination until the time the injunction is granted.

 Executive further agrees, unless otherwise prohibited by law, to pay Nucor’s attorneys’ fees and costs incurred in successfully
enforcing its rights pursuant to this Section 15, or in defending against any action brought by Executive or on Executive’s behalf in violation of or under this Section 15 in which Nucor prevails. Executive agrees that Nucor’s
actions pursuant to this Section 15, including, without limitation, filing a legal action, are permissible and are not and will not be considered by Executive to be retaliatory. Executive further represents and acknowledges that in the event of
the termination of Executive’s employment for any reason, Executive’s experience and capabilities are such that Executive can obtain employment and that enforcement of this Agreement by way of injunction will not prevent Executive from
earning a livelihood. 
 16. Reasonableness of Restrictions. Executive has carefully considered the nature and extent of
the restrictions upon him and the rights and remedies conferred upon Nucor under Sections 8, 9, 10, 11, 12, 13 and 15 and hereby acknowledges and agrees that the same are reasonable in time and territory, are designed to eliminate competition which
would otherwise be unfair to Nucor, do not interfere with Executive’s exercise of his inherent skill and experience, are reasonably required to protect the legitimate interests of Nucor, and do not confer a benefit upon Nucor disproportionate
to the detriment to Executive. Executive certifies that he has had the opportunity to discuss this Agreement with such legal advisors as he chooses and that he understands its provisions and has entered into this Agreement freely and voluntarily.

 17. Applicable Law. This Agreement is made in, and shall be interpreted, construed and governed according to the laws
of, the State of North Carolina, regardless of choice of law principles of any jurisdiction to the contrary. Each party, for themselves and their successors and assigns, hereby irrevocably (a) consents to the exclusive jurisdiction of the North
Carolina State courts located in Mecklenburg County, North Carolina and (b) waives any objection to any such action based on venue or forum non conveniens. Further, Executive hereby irrevocably consents to the jurisdiction of any court
or similar body within the Restricted Territory for enforcement of any judgment entered in a court or similar body pursuant to this Agreement. This Agreement is intended, among other things, to supplement the provisions of the North Carolina Trade
Secrets Protection Act, as amended from time to time, and the duties Executive owes to Nucor under the common law, including, but not limited to, the duty of loyalty. 

  

					
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 18. Executive to Return Property. Executive agrees that upon (a) the termination
of Executive’s employment with Nucor and within three (3) business days thereof, whether by Executive or Nucor for any reason (with or without cause), or (b) the written request of Nucor, Executive (or in the event of the death or
disability of Executive, Executive’s heirs, successors, assigns and legal representatives) shall return to Nucor any and all property of Nucor regardless of the medium in which such property is stored or kept, including but not limited to all
Secret Information, Confidential Information, notes, data, tapes, computers, lists, customer lists, names of customers, reference items, phones, documents, sketches, drawings, software, product samples, rolodex cards, forms, manuals, keys, pass or
access cards and equipment, without retaining any copies or summaries of such property. Executive further agrees that to the extent Secret Information or Confidential Information are in electronic format and in Executive’s possession, custody
or control, Executive will provide all such copies to Nucor and will not keep copies in such format but, upon Nucor’s request, will confirm the permanent deletion or other destruction thereof. 

19. Entire Agreement; Amendments. This Agreement discharges and cancels all previous agreements regarding Executive’s
employment with Nucor, including without limitation that certain Executive Agreement by and between Nucor Corporation and Executive dated as of January 7, 2008, and constitutes the entire agreement between the parties with regard to the subject
matter hereof. No agreements, representations, or statements of any party not contained herein shall be binding on either party. Further, no amendment or variation of the terms or conditions of this Agreement shall be valid unless in writing and
signed by both parties. 
 20. Assignability. This Agreement and the rights and duties created hereunder shall not be
assignable or delegable by Executive. Nucor may, at its option and without consent of Executive, assign its rights and duties hereunder to any successor entity or transferee of Nucor Corporation’s assets. 

21. Binding Effect. This Agreement shall be binding upon and inure to the benefit of Nucor and Executive and their respective
successors, assigns, heirs and legal representatives. 
 22. No Waiver. No failure or delay by any party to this
Agreement to enforce any right specified in this Agreement will operate as a waiver of such right, nor will any single or partial exercise of a right preclude any further or later enforcement of the right within the period of the applicable statute
of limitations. No waiver of any provision hereof shall be effective unless such waiver is set forth in a written instrument executed by the party waiving compliance. 
 23. Cooperation. Executive agrees that both during and after his employment, he shall, at Nucor’s request, render all assistance and perform all lawful acts that Nucor considers necessary or
advisable in connection with any litigation involving Nucor or any of its directors, officers, employees, shareholders, agents, representatives, consultants, clients, customers or vendors. Executive understands and agrees that Nucor will reimburse
him for any reasonable documented expense he incurs related to this cooperation and assistance, but will not be obligated to pay him any additional amounts. 
 24. Compliance with Code Section 409A. Notwithstanding anything in this Agreement to the contrary, if (a) Executive is a “specified employee” under Section 409A(a)(2)(B)(i)
of the Internal Revenue Code of 1986 (the “Code”) as of the date of his separation from service and (b) any amount or benefit that Nucor determines would constitute non-exempt “deferred compensation” for purposes of
Section 409A of the Code would otherwise be payable or distributable under this Agreement by reason of Executive’s separation from service, then to the extent necessary to comply with Code Section 409A: (i) if the payment or
distribution is payable in a lump sum, Executive’s right to receive payment or distribution of such non-exempt deferred compensation will be delayed until the earlier of Executive’s death or the seventh month following Executive’s
separation from service, and (ii) if the payment, 

  

					
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distribution or benefit is payable or provided over time, the amount of such non-exempt deferred compensation or benefit that would otherwise be payable or provided during the six (6) month
period immediately following Executive’s separation from service will be accumulated, and Executive’s right to receive payment or distribution of such accumulated amount or benefit will be delayed until the earlier of Executive’s
death or the seventh month following Executive’s separation from service and paid or provided on the earlier of such dates, without interest, and the normal payment or distribution schedule for any remaining payments, distributions or benefits
will commence. 
 For purposes of this Agreement, the term “separation from service” shall be defined as provided in
Code Section 409A and applicable regulations, and Executive shall be a “specified employee” during the twelve (12) month period beginning April 1 each year if Executive met the requirements of Section 416(i)(l)(A)(i),
(ii) or (iii) of the Code (applied in accordance with the regulations thereunder and disregarding Section 416(i)(5) of the Code) at any time during the twelve (12) month period ending on the December 31 immediately preceding
his separation from service. 
 [Signatures Appear on Following Page] 

  

					
		 	11	 	

 IN WITNESS WHEREOF, Executive and Nucor Corporation have executed this Agreement on the
dates specified below. 
  

			
	EXECUTIVE
	
	
 

	James R. Darsey
	Date:	 	 8/20/2010

	
	NUCOR CORPORATION
	
	
 

	John J. Ferriola
	Chief Operating Officer of Steelmaking Operations
	Date:	 	 8/19/2010Amendment No. 1 to the UPS Retirement Plan

 Exhibit 10.2(1) 
 Execution Copy 
 AMENDMENT NO. 1 

TO THE 
 UPS
RETIREMENT PLAN 
 AS AMENDED AND RESTATED EFFECTIVE JANUARY 1, 2010 
 WHEREAS, United Parcel Service of America, Inc. (“UPS”) and its affiliated corporations established the UPS Retirement Plan (“Plan”) for the benefit of its employees, in order to
provide benefits to those employees upon their retirement, disability, or death, effective as of September 1, 1961; and 
 WHEREAS, the
Plan, as adopted and amended from time to time, was amended and restated in its entirety, effective as of January 1, 1976, to comply with the Employee Retirement Income Security Act of 1974; and 

WHEREAS, the Plan has been amended on a number of occasions since January 1, 1976, and was most recently amended and restated effective as of
January 1, 2010; and 
 WHEREAS, UPS desires to amend the Plan to revise the definition of Compensation to limit the amount of the MIP
award taken into account for benefit accrual purposes, to clarify certain Plan provisions and to make amendments required by law. 
 NOW
THEREFORE, pursuant to the authority vested in the Board of Directors by Section 7.1 of the UPS Retirement Plan (the “Plan”), the Plan is hereby amended to read as follows: 
 1. Section 1.1(h)(v), Terminated Transferred and Rehired Employees, is hereby amended, effective January 1, 2008, to read as follows: 

 

	 	(v)	Terminated and Rehired Employees. An employee who was employed as an Employee on December 31, 2007 will continue to earn Benefit Service described in this
Section 1.1(h) after 2007 for all purposes as long as he remains employed as an Employee, but an Employee who ceases to be employed as an Employee whether as a result of termination of employment or a transfer to a non-Employee position will
cease to earn Benefit Service credit after such termination or transfer except as provided in this Section 1.1(h)(v). An Employee who is transferred to a non-Employee position (whether on, before or after January 1, 2008) and then is
transferred back to an Employee position or rehired as an Employee on or after January 1, 2008 shall continue to earn Benefit Service as described in Section 1.1(h) following such transfer or rehire solely for purposes of determining early
retirement subsidies, but not benefit accrual, under a Final Average Compensation Formula or the Pre-2006 Motor Cargo Formula for the benefit accrued before he terminated service or transferred to the non-Employee position until he terminates
employment with the Employer Company and all Related Employers. 

 2. Section 1.1(o), Compensation, is hereby amended,
effective January 1, 2011, to read as follows: 
 (o) “Compensation” means, generally, remuneration
currently earned and actually paid by an Employer Company or a domestic Related Employer to an employee who is a 

 
Participant in the Plan, and reported on such employee’s Form W-2 for the applicable calendar year, including the items described in Section 1.1(o)(i) but excluding the items described
in Section 1.1(o)(ii) and subject to the limitations of Sections 1.1(o)(iii) and (iv). 
  

	 	(i)	Inclusions. Compensation shall include: 

  

	 	(A)	Basic salary or wages (without reducing wages to account for the Participant’s elective deferral of a portion of his salary or wages, if any, pursuant to a cash or
deferred arrangement described in Code § 401(k), a plan described in Code § 125 or the UPS Deferred Compensation Plan; 

  

	 	(B)	Overtime pay; 

  

	 	(C)	Certain incentive and bonus payments; 

  

	 	(D)	Effective January 1, 2011, Eligible MIP Compensation for such Plan Year; and 

 

	 	(E)	Effective before January 1, 2011, the value of awards made pursuant to the UPS Managers’ Incentive Plan or management incentive awards under the United Parcel
Service, Inc. Incentive Compensation Plan or the United Parcel Service, Inc. UPS 2009 Omnibus Incentive Compensation Plan. Notwithstanding anything to the contrary in the immediately preceding sentence, effective for management incentive awards made
under the United Parcel Service, Inc. Incentive Compensation Plan on or after November 1, 2005 or under the United Parcel Service, Inc. 2009 Omnibus Incentive Compensation Plan, Compensation shall include the value (as of the award date) of the
restricted stock unit portion of the award, even if unvested and not reported on the employee’s Form W-2 related to the year of the award. 

  

	 	(ii)	Exclusions. Compensation shall not include any other payments received by the Participant, including, but not limited to, the following, notwithstanding
that such payments may be included in the Participant’s Form W-2 for the applicable year: 

  

	 	(A)	Payments in the nature of compensation from an insurance carrier, from a state unemployment or worker’s compensation fund, or from any health and welfare or other
benefit program or plan maintained by an Employer Company or a Related Employer other than as described in Sections 1.1(o)(i)(D) or (E); 

  

	 	(B)	 Disability payments from an insurance carrier, a state disability insurance fund, this Plan or any other disability plan maintained by an Employer
Company or a Related Employer except, effective 

  
 2 

	 	 
January 1, 2007, payments from a state disability insurance fund that are applied to offset salary continuation benefits from the UPS Income Protection Plan; 

 

	 	(C)	“Foreign service differentials” or other supplemental payments made by an Employer Company or a Related Employer to a Participant working outside his country
of citizenship on account of such foreign service; 

  

	 	(D)	Payment or reimbursement by an Employer Company or a Related Employer of relocation expenses incurred by a Participant or his family; 

 

	 	(E)	The value of employee fringe benefits provided by an Employer Company or a Related Employer, including but not limited to the payment of life insurance premiums,
whether or not the value of such fringe benefits is includable in an employee’s taxable income; 

  

	 	(F)	Payments made under deferred compensation plans or programs except to the extent included under Sections 1.1(o)(i)(D) or (E); 

 

	 	(G)	Employer contributions to any pension, profit-sharing or stock bonus plan to which the Employer Company or a Related Employer contributes; 

 

	 	(H)	Employer contributions to any welfare benefit plan to which an Employer Company or a Related Employer contributes; 

 

	 	(I)	Income attributable to awards under the UPS Stock Option Plan, the United Parcel Service, Inc. Incentive Compensation Plan or the United Parcel Service, Inc. 2009
Omnibus Incentive Compensation Plan except to the extent included under Sections 1.1(o)(i)(D) or (E); and 

  

	 	(J)	Effective January 1, 2006, bonuses paid pursuant to retention agreements paid in connection with mergers or acquisitions and any other bonuses or payments that are
not directly related to the performance of the Participant’s duties including, but not limited to: 

  

	 	(1)	any bonuses paid under a general bonus payroll code; 

  

	 	(2)	gift card awards; 

  

	 	(3)	loss prevention awards; 

  

	 	(4)	referral bonuses; and 

  
 3 

	 	(5)	sales lead incentive bonuses. 

  

	 	(iii)	Definitions. The following capitalized terms shall have the following meanings for purposes of this Section 1.1(o): 

 

	 	(A)	2010 MIP Compensation — means that portion of a Participant’s Compensation for 2010 attributable to Section 1.1(o)(i)(E).

  

	 	(B)	Annualized Salary — means (I) for Participants in the UPS Management Incentive Program, the monthly rate of base salary determined as of October 1
multiplied by 12 and (II) for Participants in the UPS International Management Incentive Program, the rate of pay for a single fixed pay installment determined as of December 1 multiplied by the number of mandatory fixed pay installments for
the year. 

  

	 	(C)	Eligible MIP Compensation 

(1) General. Eligible MIP Compensation means for each Participant for each Plan Year the sum of (I) the value of the
ownership incentive award under the MIP transferred to or on behalf of the Participant in that Plan Year and (II) the value of the performance incentive award under the MIP transferred to or on behalf of the Participant in that Plan Year, but the
amount of the performance incentive award taken into account as Eligible MIP Compensation shall not exceed the product of (x) 34%, (y) the Participant’s Annualized Salary for the preceding Plan Year and (z) the MIP Factor for the
preceding Plan Year. 
 (2) Special Rules for 2011 and 2012. Notwithstanding the preceding paragraph (1) each
Participant (I) who either was credited with 2010 MIP Compensation or is an eligible employee under the MIP for 2011 and (II) who is employed as an Employee with an Employer Company on December 31, 2011 shall be deemed to have Eligible MIP
Compensation in 2011 equal to the greater of his 2010 MIP Compensation or any performance incentive award under the MIP transferred to him in 2011. Additionally, any portion of the performance incentive award for the 2011 performance year
transferred to a Participant in 2011 also shall be taken into account as Eligible MIP Compensation in 2012. 
 (3)
Valuation. Except as provided in paragraph (2), the value of an award under the MIP in any Plan Year shall be equal to the gross dollar amount of the award transferred to or on behalf of the Participant in that Plan Year without regard to
whether the award is paid in cash, shares of Class A common stock, restricted performance units or deferred under another retirement plan. 

  
 4 

	 	(D)	MIP — means the UPS Management Incentive Program and the UPS International Management Incentive Program, each as effective as of January 1, 2010.

  

	 	(E)	MIP Factor — means the factor expressed as a percentage determined by the UPS Salary Committee to reflect performance with respect to the MIP business
elements identified for the MIP plan year. 

  

	 	(iv)	Limitations. In no event shall the Compensation of any participant taken into account under the Plan for any Plan Year exceed the applicable dollar amounts for
such Plan Year determined under Code § 401(a)(17) increased by the applicable cost-of-living adjustment, if any, for the calendar year sanctioned by Code § 401(a)(17). For Plan Years commencing before January 1, 1997, in
determining the Compensation of a Participant, the rules of Code § 414(q)(6) (as in effect immediately prior to January 1, 1997) shall apply, except that in applying such rules, the term “family” shall include only the
Participant’s Spouse and any lineal descendants of the Participants who have not attained age 19 before the close of the Plan Year. If, as a result of the application of such rules the applicable Compensation limitation is exceeded, then such
limitation shall be prorated among the affected individuals in proportion to each such individual’s Compensation as determined under this Section prior to the application of this limitation. 

In determining a Participant’s Final Average Compensation, the $200,000 Compensation limitation shall apply retroactively with
respect to Compensation earned prior to 2002 by a Participant with at least one Hour of Service on or after January 1, 2002. Similarly, the $150,000 Compensation limitation shall apply retroactively with respect to Compensation earned prior to
1994 by a Participant with at least one Hour of Service on or after January 1, 1994 (but without an Hour of Service on or after January 1, 2002) and the $200,000 Compensation limitation in effect for 1989 shall be applied retroactively
with respect to Compensation earned prior to 1989 by a Participant with at least one Hour of Service on or after January 1, 1989 (but without any Hours of Service on or after January 1, 1994). However, a Participant’s Benefit shall
not be less than that which had accrued or earned as of December 31, 2001 (December 31, 1993 in the case of a Participant without at least one Hour of Service on or after January 1, 2002 or December 31, 1988 in the case of a
Participant without at least one Hour of Service on or after January 1, 1994), based on his Benefit Service and Final Average Compensation determined as of such date. 
 Solely for the purpose of avoiding a double proration, within the meaning of Department of Labor Regulations Section 2530.204-2(d), in calculating a Participant’s benefit; to the extent that a
Participant is credited with less 

  
 5 

 
than a full year’s Benefit Service for a calendar year, then the Participant’s Compensation taken into account for such year for purposes of the Final Average Compensation Formula shall
be annualized by dividing such Compensation by the number of months of Benefit Service earned by the Participant for such calendar year and multiplying the result by 12. 
 The Compensation of an individual who became a Participant as a result of an acquisition or merger shall include compensation, if any, earned prior to the date such individual first became a Participant
to the extent described in the applicable Appendix or in the definition of Final Average Compensation and for purposes of determining Final Average Compensation, Compensation for periods prior to such acquisition or merger shall be determined in
accordance with this Section unless otherwise specified in the Appendix applicable to such Participants. 
 3. Section 6.2 of the Maximum
Benefits Addendum for Independent Pilots Association of Appendix M is hereby amended, effective for years beginning after December 31, 2008, to insert a new paragraph at the end of such Section to read as follows: 

Effective for years beginning after December 31, 2008, a Participant receiving a differential wage payment (as described in
Section 414(u)(12) of the Code) shall be treated as an employee of the Employer Company making the differential wage payment and, for purposes of this Appendix M, the differential wage payment shall be treated as Compensation. 

4. Section 6.2 of Appendix N, Maximum Benefits for Participants Other than Independent Pilots Association, is hereby amended, effective for years
beginning after December 31, 2008, to insert a new paragraph at the end of such Section to read as follows: 
 Effective for
years beginning after December 31, 2008, a Participant receiving a differential wage payment (as described in Section 414(u)(12) of the Code) shall be treated as an employee of the Employer Company making the differential wage payment and,
for purposes of this Appendix N, the differential wage payment shall be treated as Compensation. 
 Except as amended by this Amendment
No. 1, the Plan as in effect immediately prior to the date of this amendment shall remain in full force and effect. 
 IN WITNESS WHEREOF,
the undersigned certify that United Parcel Service of America, Inc. based upon action by the Board of Directors on December 17, 2010 has caused this Amendment No. 1 to be adopted. 

 

					
	ATTEST:	 		 	 UNITED PARCEL SERVICE
 OF
AMERICA, INC.

			
	/s/ Teri P. McClure	 		 	/s/ D. Scott Davis
	Teri P. McClure	 		 	D. Scott Davis
	Secretary	 		 	Chairman

  
 6

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