Document:

Exhibit

Exhibit 10.16

Tyson Foods, Inc.
2000 Stock Incentive Plan

Stock Appreciation Right Award

* * *

		
	Employee:
	Participant Name

		
	Award:
	Stock Appreciation Right equal to Quantity Granted shares of Tyson Foods, Inc. Class A common stock, $0.10 par value per share.

		
	Grant Date:
	November 19, 2018

		
	Base Price per Share:
	$Grant Price USD

		
	Exercise Period:
	Earlier of (i) the tenth (10th) anniversary of the Grant Date or (ii) as otherwise defined herein.

		
	Exercise Right:
	This Stock Appreciation Right Award may only be exercised as to its vested portion pursuant to the schedule below and as described herein.

		
	Vesting Schedule:
	One-third (1/3) of Award Vested upon each anniversary of the Grant Date.

* * *

This Stock Appreciation Rights Award is granted on the Grant Date by Tyson Foods, Inc., a Delaware corporation, to the Employee (hereinafter referred to as “you”) identified above in this document (the “Award” as embodied by this “Award Agreement”).

1.    Terms and Conditions. The Award is subject to all the terms and conditions of the Tyson Foods, Inc. 2000 Stock Incentive Plan or any successors thereto, as such plan or its successors may be amended and restated from time to time (the “Plan”). Unless otherwise defined herein, all capitalized terms in this Award Agreement shall have the meanings stated in the Plan. Please see the Plan document for more information on these terms and conditions. A copy of the Plan is available upon request.

2.    Definitions. For purposes of this Award Agreement, “Cause”, “Change in Control”, “Disability”, “Good Reason”, “Retirement”, “Termination of Employment” and “Tyson” shall have the meanings set forth below:

a.    “Cause” is defined as a Termination of Employment as a result of the occurrence of one or more of the following events:
(i)    Job-related misconduct or non-performance of duties;
(ii)    Violation of the policies of Tyson (including a violation of the Code of Conduct);
(iii)    Any willful and wrongful conduct or omission by you that injures Tyson;
(iv)    Any act by you of intentional misrepresentation or embezzlement, misappropriation or conversion of assets of Tyson;
(v)    You are convicted of, confess to, plead no contest to, or become the subject of proceedings that provide a reasonable basis for Tyson to believe that you have been engaged in a felony, serious crime, job-related misdemeanor, or similar offense; or
(vi)    Your intentional or willful violation of any restrictive covenant or other agreement to which you are a party with Tyson.

For purposes of this Award Agreement an act or failure to act shall be considered “willful” only if done or omitted to be done without your good faith reasonable belief that such act or failure to act was in the best interests of Tyson.  In no event shall Tyson’s failure to notify you of the occurrence of any event constituting Cause, or failure to terminate you as a result of such event, be construed as a consent to the occurrence of that event or future events, whether or not similar to the initial occurrence, or a waiver of Tyson’s right to terminate you for Cause as a result thereof.

b.    “Change in Control” shall have the meaning ascribed to it in the Plan but shall not include any event as a result of which one or more of the following persons or entities possess or continues to possess, immediately after such event, over fifty percent (50%) of the combined voting power of Tyson or, if applicable, a successor entity: (a) Tyson Limited Partnership, or any successor entity; (b) individuals related to the late Donald John Tyson by blood, marriage or adoption, or the estate of any such individual (including Donald John Tyson’s); or (c) any entity (including, but not limited to, a partnership, corporation, trust or limited liability company) in which one or more of the entities, individuals or estates described in clauses (a) and (b) hereof possess over fifty percent (50%) of the combined voting power or beneficial interests of such entity.

F19 SAR Gen ENG SR2    1
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Exhibit 10.16

c.    “Disability” shall have the same meaning as provided in the long-term disability plan or policy maintained or, if applicable, most recently maintained, by Tyson. If no long-term disability plan or policy was ever maintained on your behalf or, if the determination of Disability relates to an incentive stock option, Disability means that condition described in Section 22(e)(3) of the Internal Revenue Code (the “Code”), as amended, or any successors thereto, and any regulations or rulings issued thereunder.  In the event of a dispute, the determination of Disability will be made by the Committee (as defined in the Plan) and will be supported by the advice of a physician competent in the area to which such Disability relates.

d.    “Good Reason” is defined as the occurrence of any one or more of the following actions or events without your written consent; provided that you may not rely on any particular action or event as a basis for terminating your employment for Good Reason unless you deliver a Notice of Good Reason based on that action or event within thirty (30) days of its initial occurrence and Tyson (or its successors) has failed to correct the circumstances cited by you as constituting Good Reason within thirty (30) days of such Notice of Good Reason and you resign within thirty (30) days following such failure:
(i)    A material diminution in authority, duties or responsibilities (not merely a change in job title alone);
(ii)    Greater than a fifteen percent (15%) decrease in the total of your then-current (i) base salary, (ii) target annual cash award opportunity under the Tyson Foods, Inc. Annual Incentive Plan, or any successors thereto, as such plan or its successors may be amended or restated from time to time, as determined by Tyson in its sole discretion, and (iii) target grant date value of the annual long-term incentive award under the Plan, as determined by Tyson in its sole discretion;
(iii)    Transfer of your primary employment location beyond fifty (50) miles;
(iv)    The failure by Tyson to obtain a satisfactory agreement from any successor to assume and agree to perform the obligations under this Award Agreement for at least twenty-four (24) months following a Change in Control; or
(v)    Any action or event described in the above clauses (i)-(iii) taken by Tyson prior to a Change in Control at the request of the other party to the Change in Control transaction or otherwise in contemplation of the closing of a Change in Control transaction.

e.    “Retirement” shall mean your voluntary or involuntary Termination of Employment from Tyson or its affiliates without Cause on or after the date you attain age sixty-two (62).

f.    “Termination of Employment” shall have the meaning ascribed to it in the Plan but, in the event of a Change in Control, any successor and its affiliates shall replace Tyson and its affiliates in interpreting the meaning of a Termination of Employment.

g.    “Tyson” means Tyson Foods, Inc. or any successor thereto.

3.    Vesting.

3.1    Vesting Schedule and Forfeiture. The Award which becomes vested pursuant to the Vesting Schedule shall be considered as fully earned by you, subject to the further provisions of this Section 3. Notwithstanding any other provision of this Award Agreement to the contrary, any Awards which do not become vested in accordance with the Vesting Schedule as of your Termination of Employment will be forfeited back to Tyson, except as otherwise provided in Sections 3.2 and 3.3.

3.2    Death, Disability or Retirement. In the event of your Termination of Employment due to death, Disability or Retirement, you will be fully vested in the Award.

3.3    Change in Control. All unvested rights under the Award shall become fully vested immediately upon the occurrence of either of the following events, provided such event occurs no later than twenty-four (24) months following the Change in Control (to the extent the Award has not otherwise become fully vested prior to such event): (i) you experience a Termination of Employment by Tyson without Cause or (ii) you resign from your employment on account of Good Reason.  The Award will be settled in the cash value of the form of consideration received by shareholders of Tyson Foods, Inc.’s Class A common stock in connection with the Change in Control transaction, except as otherwise determined by the Committee or provided by the express terms of the documentation establishing the terms of the Change in Control.

4.    Time of Exercise of Award.  The Award will be exercisable upon the Vesting Dates set forth herein. In the event of your Termination of Employment, your vested Award shall no longer remain exercisable, except as follows:

4.1    Termination of Employment. Except as provided in Section 4.2, in the event of your Termination of Employment, your vested Award will remain exercisable for a period of three (3) months from the Termination of Employment, but not longer than ten (10) years from the Grant Date.

4.2    Death, Disability or Retirement. In the event your Termination of Employment is due to death, Disability or Retirement, your vested Award will remain exercisable by you, or your Beneficiary in the case of your death, for a period of twelve (12) months, but not longer than ten (10) years from the Grant Date.

F19 SAR Gen ENG SR2    2
19SARGEN

Exhibit 10.16

5.    Manner of Exercise of Award. The Award, if exercisable, may be exercised through the following method as provided under the Plan:  Cash of the excess of the Fair Market Value per Share at the date of exercise of the Stock Appreciation Right Based Bonus over the Base Price per Share multiplied by the number of vested shares subject to the Stock Appreciation Right Based Bonus to be exercised, minus the amount of any required tax withholding.

6.    Withholding Taxes. By accepting the Award, you acknowledge and agree that you are responsible for, and that Tyson may withhold, all applicable income and other taxes, as well as any social insurance contributions and other deductions or withholdings required by applicable law, from any Award, including taxes applicable in your country of residence or employment.  If applicable, Tyson shall withhold such taxes and social security contributions by any manner acceptable under the terms of the Plan and in accordance with applicable law and regulations. Tyson recommends that you seek the advice of your tax advisors regarding the tax treatment of your awards.

7.    Clawback. Notwithstanding any other provision of this Award Agreement to the contrary, by executing this Award Agreement and accepting the Award, you agree and consent to the application and enforcement of any clawback policy that may be implemented by Tyson (whether in existence as of the Grant Date or later adopted, and as such policy may be amended from time to time) that may apply to you, any shares issued pursuant to the Award and/or any amount received with respect to any sale of any such shares, and you expressly agree that Tyson may take such actions as are necessary to effectuate the enforcement of such policy without your further consent or action.  To the extent that the terms of the Award and any such policy conflict, then the terms of such policy shall prevail.

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

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

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

11.    Entire Agreement. Subject to the terms and conditions of the Plan, this Award Agreement expresses the entire understanding and agreement of Tyson and you with respect to the subject matter. In the event of any conflict or inconsistency between the terms of this Award Agreement and the terms applicable to stock incentive awards set forth in any employment agreement, offer letter, or other agreement or arrangement that you have entered into with Tyson and/or its affiliates, the former will always control. In the event of any conflict between the provisions of the Plan and the terms of this Award Agreement, the provisions of the Plan will control unless this Award Agreement explicitly states that an exception to the Plan is being made. The Award has been made pursuant to the Plan and an administrative record is maintained by the Committee.

12.    Restrictions on Transfer of Award. Any disposition of the Award or any portion thereof shall be a violation of the terms of this Award Agreement and shall be void and without effect; provided, however, that this provision shall not preclude a transfer as otherwise permitted by the Plan.

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

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

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

16.    No Right to Continued Employment.  You acknowledge and agree that neither the adoption of the Plan nor the granting of any Award shall confer any right to continued employment with Tyson, nor shall it interfere in any way with Tyson’s right to terminate your employment at any time for any reason subject to applicable laws and regulations. 

F19 SAR Gen ENG SR2    3
19SARGEN

Exhibit 10.16

17.    No Rights as Shareholder. You acknowledge and agree that you shall have no rights as a shareholder with respect to Tyson Foods, Inc. by virtue of this Award Agreement, and Tyson Foods, Inc. shall make no adjustment for any dividends or distributions or other rights on or with respect to the Award.

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

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

20.    Filing and Registration. You shall fully cooperate with Tyson and/or its affiliates (as the case may be) to complete any approval/filing/registration procedures associated with the Plan and the Award as required under applicable laws and regulations in your country of residence or employment.

21.    Country-Specific Provisions. If you are employed in a country other than the United States, please see Addendum A, Country-Specific Provisions, attached to and incorporated into this Award Agreement by this reference, for additional terms and conditions applicable to certain jurisdictions outside of the United States. Notwithstanding anything in this Award Agreement to the contrary, the terms and provisions of Addendum A shall supersede and control any conflicting terms and provisions set forth above for all purposes, but only to the extent applicable to the jurisdiction of your employment. Capitalized terms that are used without definition in Addendum A shall have the meanings assigned in this Award Agreement.

F19 SAR Gen ENG SR2    4
19SARGEN

Exhibit 10.16

Addendum A
Country-Specific Provisions

Brazil
By accepting the Award, you understand and agree that you are responsible for paying income tax via payment voucher (carnê-leão) on or before the last business day of the month following that in which the Award is exercised.

China
The Award is a Stock Appreciation Right-Based Bonus granted solely by the legal entity established or registered in the People’s Republic of China (the “PRC”) that employs you (your “PRC Employer”, as identified below), and not Tyson Foods, Inc. Except for your PRC Employer, none of Tyson Foods, Inc. or any of its affiliates shall be deemed as a party to or otherwise bound by this Award Agreement. “Release” shall mean that specific document which Tyson shall present to you for consideration and execution after your Termination of Employment, under which you agree to irrevocably and unconditionally release and forever discharge Tyson, its subsidiaries, affiliates and related parties from any and all causes of action which you at that time had or may have had against Tyson and its subsidiaries, affiliates and related parties (excluding any claim under state workers’ compensation or unemployment laws).  The Release will be provided to you as soon as practicable after your termination date, but in any event in sufficient time so that you will have adequate time to review the Release as provided by applicable law. “Retirement” shall mean your voluntary Termination of Employment from Tyson on or after the date you attain the then-applicable retiring age under the laws and regulations of the PRC. “Tyson” means your PRC Employer or any successor thereto.

In the event your employment is terminated by Tyson without Cause, you will be vested in a pro rata portion of any unvested Award subject to your timely execution and non-revocation of a Release. The pro rata portion will be calculated using a fraction, the numerator of which is the total number of days that you were employed by Tyson between the later of the Grant Date or the Vesting Date that occurred immediately before your termination of employment by Tyson and the termination date; and the denominator of which is the total number of days between the later of the Grant Date or the Vesting Date that occurred immediately before your termination of employment by Tyson and the third anniversary of the Grant Date. If your employment is terminated by Tyson without Cause and your termination of employment occurs on or after both the first anniversary of the Grant Date and the then applicable retiring age under the laws and regulations of the PRC, you will be fully vested in your Award subject to your timely execution and non-revocation of a Release.

If applicable, Tyson shall withhold such taxes by any manner acceptable under the terms of the Plan, but not to exceed the maximum tax due for the applicable income you receive from the Award, consistent with and subject to the laws of the PRC. This Award Agreement and all determinations made and actions taken pursuant to this Award Agreement shall be governed by the laws of the PRC, without giving effect to the conflict of laws principles thereof. This Award Agreement has been executed by a representative of your PRC Employer:

        Representative Signed:                    
Name:                     
Title:                         
PRC Employer:                     

Your signature below affirms your acceptance of this Award Agreement:

        Team Member Signed:                    
Name:                     

Hong Kong
The Award is a Stock Appreciation Right-Based Bonus. WARNING: The contents of this document have not been reviewed by any regulatory authority in Hong Kong. You are advised to exercise caution in relation to the offer. If you are in any doubt about any of the contents of this document, you should obtain independent professional advice.

Japan
The Award is considered a Stock Appreciation Right-Based Bonus.

F19 SAR Gen ENG SR2    5
19SARGEN

Exhibit 10.16

Philippines
The Award is a Cash-Settled Stock Appreciation Right Award equivalent to the quantity of shares specified above. The award, exercise or vesting of this Cash-Settled Stock Appreciation Right does not entitle you to receive, acquire, or hold, directly or indirectly, any shares of Tyson Foods, Inc., at any time and should not be construed as a sale or offer for sale or distribution of any shares of Tyson Foods, Inc. The Award is subject to all the terms and conditions of the Plan, subject to the exception that the settlement of the Cash-Settled Stock Appreciation Right by virtue of this Award Agreement shall only be made in cash and not in shares of stock.

F19 SAR Gen ENG SR2    6
19SARGENExhibit

Exhibit 10.17

TYSON FOODS
RELEASE AGREEMENT

This Release Agreement ("Agreement ") is made and entered into by and among Thomas Hayes PN # 817644 ("you") and Tyson Foods, Inc. ("Tyson"). In consideration of the mutual promises contained herein, and subject to your execution and non-revocation of this Agreement, the parties hereby agree as follows:

(1)Termination of Employment. Your employment with Tyson is terminated as of December 1, 2018 ("Separation Date"). The parties  wish to settle  and compromise  fully  any and all claims and issues that have been raised or could be raised by you. Tyson shall continue your base salary and benefits as required under Section 2 of the Employment Agreement (as defined below) through the Separation Date.

(2)Consideration. You also acknowledge and agree that you would not otherwise be entitled to the benefits provided under subsection (i), (ii), (iii), (iv), or (v) below but for entering into this Agreement.
(i)    Severance Benefit. Subject to your execution and non-revocation of this Agreement, Tyson will pay you the amounts set forth in Section 4(b) of your employment agreement dated November 17, 2016 (the "Employment Agreement"). Tyson will pay you the sum of (x) 24 months of your current base salary, which is $1,207,500.00 per year ($2,415,000.00 in the aggregate) and (y) two times your annual cash-based target bonus , which target bonus is $1,811,250.00 per year ($3,622,500.00 in the aggregate), for a total payment of $6,037,500.00 in the aggregate, payable over 24 months through its regular payroll practice beginning on the first payroll payment date commencing on or after the effective date of this Release, except as otherwise provided under Section 8 of your Employment Agreement (the "Separation Payments"). To the extent necessary, the first payment will  be  a  "catch  up" payment that will include any installments that accrue during the period  from  the  Separation Date to the date of the first payment but are withheld pending the agreement becoming effective. These Separation Payments constitute gross wages, subject to applicable  withholdings  for federal, state, and local taxes, Social Security, and  other  required  withholdings.  You acknowledge that the Separation Payments are in lieu of any other severance payments under any severance plan of Tyson's or any of its affiliates.

(ii)    Subsidized Health Care Continuation. Subject to your execution and non- revocation of this Agreement, if upon the Separation Date you are eligible for and timely elect COBRA health continuation coverage under Tyson's group health plan(s) for yourself and, if applicable, your eligible dependents, such coverage will be paid for by Tyson, less the portion of the premium cost paid by active employees for the same coverage, for the period beginning with the first day of the COBRA health continuation coverage period and ending on the date on which occurs the earliest of the following: (i) the date you cease to be entitled to receive any payments under Section 4(b)(iv) of your Employment Agreement  for any reason;  (ii) the date you cease to be eligible for COBRA health continuation coverage; (iii) 18 months; or (iv) the date the you notify Tyson that you no longer desire coverage under Tyson's group health plan(s). It is understood that your coverage under all Tyson benefit plans other than its group medical,  dental,

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vision and drug plan(s), including, but not limited to, retirement, disability, accidental death and dismemberment, life insurance, vacation and stock plans cease as of the Separation Date.

(iii)    Conditional Vesting of Restricted Stock. Subject to your execution and non-revocation of this Agreement, you will become vested in a pro rata share of your unvested restricted stock awards that are outstanding on the Separation Date, all as set forth on Exhibit A.

(iv)    Conditional Vesting of Performance  Shares.  Subject  to your  execution and non-revocation of this Agreement, you will become vested in a pro rata portion of any performance shares under performance share awards that are outstanding on the Separation Date, as set forth on Exhibit A, provided the applicable performance criteria are met. The pro rata portion of your award shall equal the percentage of the total performance period, measured in days, in which you remained employed by Tyson multiplied by the percentage of the award that you would have received had you remained employed for the entire performance period. Any award subject to this subsection (iv) shall not be paid until such time as it would have otherwise been paid under the terms of the award and will only be paid if the performance criteria are met.

(v)    Conditional Vesting of Stock Options. Subject to your execution and non- revocation of this Agreement, you will become fully vested in the unvested stock options, as set forth on Exhibit A, that are outstanding on the Separation  Date, all as  provided by, and  subject to, the terms of each specific stock option grant or award agreement.

(vi)    Other Benefits. A summary of the other benefits you are entitled to, including under the terms of the Company's qualified plans, is set forth on Exhibit A.

(3)General Release. In consideration for the items provided in Section 2 above, you, on behalf of yourself and your spouse, family, heirs, executors, administrators, attorneys , agents and assigns, hereby waive, release and forever discharge Tyson, together with Tyson's parents, partnerships, subsidiaries, divisions, affiliates, other related entities, whether direct or  indirect, and their joint ventures and joint venturers (including its and their respective directors, officers, associates, employees, shareholders, partners and agents, past,  present, and future),  and  each of its and their respective fiduciaries, trustees, predecessors, successors and assigns (hereinafter collectively referred to as "Releasees"), from any and all known or unknown actions, causes of action, claims, matters, suits, charges, controversies, demands, rights, judgements,  damages, costs, expenses, attorney's fees, compensation, debts or liabilities of any kind whatsoever which have been or could be asserted against the Releasees arising out of, in connection with or related to your employment or service with and/or separation from employment or service with Tyson and/or any of the other Releasees and/or any other occurrence up to and including the date of this Agreement, including but not limited to:

		
	(a)
	claims, actions, causes of action or liabilities ansmg  under  the  Worker Adjustment and Retraining Notification Act as amended, Title VII of the Civil Rights Act of 1964, as amended, Sections 1981 through 1988 of Title 42 of the United States Code, as amended, the Civil rights Act of 1991, as amended,  the Civil Rights Act of 1866, the National Labor Relations Act, the Fair Labor Standards Act, as amended, the Federal Occupational Safety and Health Act, as amended,  the Employee  Retirement  Income  Security  Act of  1974,  as amended,

   /s/  TH     

2

the Rehabilitation Act of 1973, as amended, the Americans  with Disabilities Act of 1990, as amended, the Family and Medical Leave Act of 1993, as amended, the Sarbanes-Oxlcy Act, as amended, and/or any other federal, state, municipal, or local employment discrimination statutes, laws, regulations, ordinances or executive orders (including, but not limited to, claims based on age, sex,  attainment of benefit plan rights or entitlement to plan benefits, entitlement to  prior notice, race, color, religion, national origin, source of income,  union activities, marital status , sexual orientation, ancestry, harassment, parental status, handicap, disability, retaliation, and veteran status); and/or

		
	(b)
	claims or rights you may have as of the date you sign this  Agreement  arising under  the  Age  Discrimination  in  Employment   Act  of   1967,  as  amended,   29 U.S.C. Sec. 621, et seq. ("ADEA''). You further agree that your  waiver  of rights under this Agreement is knowing and voluntary and in compliance with the Older Workers Benefit Protection Act of 1990; and/or

		
	(c)
	claims, actions, causes of action or liabilities arising under any other federal, state, municipal, or local statute, law, ordinance, regulation, constitution or executive order; and/or

		
	(d)
	any other claim whatsoever including, but not limited to, claims  for  severance pay, claims for salary/wages/commissions/bonus, claims for expense reimbursement, claims based upon breach of contract, wrongful termination, defamation, intentional infliction of emotional distress, tort, personal injury, invasion of privacy, violation of public policy, negligence and/or any other common law, statutory or other claim whatsoever relating to your employment with and/or separation from employment with Tyson and/or any of the other Releasees.

(4)Exclusions from General Release. Notwithstanding the above General Release of all claims, you are not waiving or releasing (i) any claims or rights which cannot be waived by law, (ii) claims for workers' compensation, (iii) claims arising after the date on which  you sign this Agreement, (iv) claims for vested or accrued benefits under a Releasee's qualified employee benefit plan, (v) claims to enforce the terms of this Agreement, (vi) any rights you may have to indemnification, contribution or reimbursement for claims against you arising out of or related to the offices or positions you held during your employment or the services you provided to Tyson, whether under the articles of incorporation, bylaws, or other governing documents of Tyson, the common law, any applicable statute, any contract or agreement with Tyson, or any policies of insurance, or (vii) your right to file a charge with the United States Equal  Employment Opportunity Commission ("EEOC") or to participate in an EEOC investigation. You are, however, freely waiving all rights to recover money or other individual relief in connection with any EEOC charge or investigation.

(5)Covenant Not to Sue. A "covenant not to sue" is a legal term which means you promise not to file a lawsuit in court. It is different from  the  General  Release  of  claims contained in paragraph (3) above because, in addition to waiving and releasing  the  claims covered  by paragraph  (3) above, you further promise and represent  that (i) you have no pending

   /s/  TH      

3

lawsuits against the Releasees with any municipal, state or federal court or non-governmental entity, and (ii) you will not sue any of the Releasees or become party to a lawsuit  in  any forum for any reason whatsoever relating to any claim subject to the release in paragraph (3)  as limited by paragraph (4). If you break this promise, Tyson shall be entitled to apply for and receive an injunction to restrain any violation of this paragraph. Further, Tyson may cease providing the Separation Payments to you and you shall be required to repay all but $200 of the Separation Payments. Alternatively, at Tyson's option, you shall be liable for the payment of all legal costs, including reasonable attorneys' fees, paid by Tyson in connection with any lawsuit you file. Notwithstanding this covenant not to sue, you may bring a claim or lawsuit to challenge the validity of this Agreement  under the ADEA.  You are, however, specifically  waiving  your right to any monetary recovery or other relief under the ADEA.

(6)Employee Acknowledgements. You further agree that: (i) you have been paid for all hours worked, including overtime; (ii) you have not suffered any on-the-job injury for which you have not already filed a claim; (iii) you have received all leave you requested and for which you were eligible; (iv) you have received all wages, compensation, vacation pay and other benefits due to you as of the date of this Agreement; and (v) you have fully complied  with Section 6(d) of the Employment Agreement, "Removal and Return of Tyson Property."

(7)Cessation of Authority. You agree that, as of September 30, 2018, you have resigned from all boards, offices and other positions with Tyson or any of its subsidiaries or affiliates or from any board or committee of an association or industry group where  you  represent Tyson. You further understand and agree that as of such date, you are no longer authorized to incur any expenses, obligations or liabilities, or to make any commitments  on behalf of Tyson.  You also agree to submit  to Tyson  on or before the Separation Date, any  and all expenses incurred by you through that date and disclose to Tyson  any and all contracts  or other obligations entered into by you on behalf of Tyson.

(8)Confidentiality of Agreement. You further agree that you shall keep all terms of this Agreement confidential (to the extent such terms are not already publicly known  as a result of securities filing s made by Tyson), except that you may make necessary disclosures  to attorneys or tax advisors that you retain to advise you in connection with this Agreement and/or  as may be required by law.

(9)Confidential Information and Restrictive Covenants. You agree and acknowledge that you continue to be subject to the provisions of Section 6 of the Employment Agreement (the "Confidential Information and Restrictive Covenants"). You further agree that if you breach the Confidential Information and Restrictive Covenants, then (a) Tyson shall be entitled to apply for and to receive an injunction to restrain such breach and (b) you shall be obligated to pay to Tyson its costs and expenses in enforcing the  Confidential  Information  and  Restrictive Covenants (including court costs, expenses, and reasonable legal fees). In addition , you acknowledge and agree that, in the event of any breach by you of the Confidential  Information and Restrictive Covenants, pursuant to the terms of certain benefit plans and programs, your accrued benefits thereunder may be discontinued or forfeited, in addition to any other rights and remedies Tyson may have at law or in equity. Nothing in this Agreement or the Employment Agreement will preclude, prohibit or restrict  you from (i) communicating  with any federal, state or  local  administrative  or  regulatory  agency  or  authority,  including  but  not  limited   to  the

   /s/  TH     

4

Securities and Exchange Commission (the "SEC"); or (ii) participating or cooperating in any investigation conducted by any governmental agency or authority. Nothing in this Agreement or the Employment Agreement prohibits or is intended in any manner to prohibit, you from (1) reporting a possible violation of federal or other applicable law or  regulation  to  any governmental agency or entity, including but not limited to the Department of Justice, the SEC, the U.S. Congress, and any governmental agency , or (2) making other disclosures that are protected under whistleblower provisions of federal law or regulation. Notwithstanding anything contained in this Agreement or the Employment Agreement, you do not need the prior authorization of anyone at Tyson to make any such reports or disclosures, and you shall not be required to notify Tyson that you have made such reports or disclosures. Nothing in this Agreement or the Employment Agreement or any other agreement or policy of Tyson is intended to interfere with or restrain the immunity provided under 18 U.S.C. §1833(b).  You will not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that is made (x) (A) in confidence to federal, state or local government officials, directly or indirectly, or to an attorney, and (B) for the purpose of reporting or investigating a suspected violation of law; (y) in a complaint or other document filed in a lawsuit or other proceeding, if filed under seal; or (z) in connection with a lawsuit alleging  retaliation  for reporting a suspected violation of law, if filed under seal and does not disclose the trade secret, except pursuant to a court order.

(10)Additional Tyson Remedies. You also acknowledge the  Releasees'  right  to enforce this Agreement in any court of competent jurisdiction. You further agree that if you breach any of your promises herein, the affected Releasee(s) shall be irreparably harmed as a matter of law and shall be entitled to immediate injunctive relief, plus its reasonable attorneys' fees and any other litigation costs incurred in enforcing this Agreement.

(11)Non-Admissions. The facts and terms of this Agreement are not an admission by the parties ofliability or other wrongdoing under any law. Further, each party acknowledges and agrees that there has been no determination that either party has violated any federal, state or  local law, regulation,  order or  other legal principle or authority.  You further acknowledge  that no precedent, practice, policy or usage shall be established by this Agreement or the Separation Payments offered hereunder.

(12)Execution and Revocation. You  agree that you have been given at  least twenty­ one (21) days to consider this Agreement before signing it. This Agreement must be signed on or within five (5) days after your Separation Date. Following your execution of  this Agreement,  you have seven (7) days in which to revoke this Agreement. To be effective, the revocation shall be made in writing and delivered to and received by the Chief Human Resources Officer at the address below no later than the seventh (7th) day after you execute this Agreement. Any attempted revocation not actually received on or before the revocation deadline shall not be effective. This entire Agreement will be void and of no force and effect if you choose to revoke  it, and you will not receive the Separation Payments. If you do not revoke  it, this  Agreement shall, on the eighth (8th) day after execution become fully effective and enforceable.

(13)Scverability. If any provision of this Agreement is found, held or deemed by a court of competent jurisdiction to be void, unlawful or unenforceable under any controlling law, the remainder of this Agreement shall continue in full force and effect.

   /s/  TH     

5

(14)Jurisdiction. This Agreement shall in all respects be interpreted, enforced and governed under applicable federal law and in the event reference shall be made to state law, the internal laws of the State of Arkansas shalt apply without  regard  to  choice  of  law principles. Any and all lawsuits, Legal actions or proceedings  arising out of this Agreement will be brought in Arkansas state court located in Washington County, Arkansas or the federal court  of  competent jurisdiction sitting in or nearest to Washington County, Arkansas, and each party shall submit to and accept the exclusive jurisdiction of such court for the purpose of such suit, legal action or proceeding. Each party irrevocably  waives any objection  it may have now or any time in the future to this choice of venue and further waives any claim that any suit, legal action or proceeding brought in any such court has been brought in an inappropriate forum. You shall stipulate in any proceeding that this Agreement is to be considered for all purposes to have been executed and delivered within the geographic boundaries of the State of Arkansas. The parties acknowledge that, by signing this Agreement, they are waiving any right that they may have to a trial by jury for any matter related to this Agreement.
(15)No Knowledge of Illegal Activity. You further acknowledge you have no knowledge of any actions or inactions by any of the Releasees or by you that you believe could possibly constitute a basis for a claimed violation of any federal, state, or local law, any common law or any rule promulgated by an administrative body except such action or inactions as are already known to Tyson.
(16)Employee Assistance. You further agree to provide reasonable assistance and cooperation to Tyson in connection with any litigation or similar proceeding  that may exist or may arise regarding events as to which you have knowledge due to your former  employment  with Tyson. Your obligation to provide assistance shall continue through  the  period  of Separation Payments. Tyson will compensate you for reasonable and requested travel and other expenses incidental to any such request and shall use reasonable efforts to  schedule  any assistance and cooperation around other professional and personal obligations you may have.

		
	(17)
	Additional  Employee  Acknowledgements.   You hereby acknowledge  and  agree that:

		
	•
	You are entering into this Agreement freely, knowingly  and  voluntarily, and were in no manner coerced into signing it;

		
	•
	You have been advised to consult with an attorney before signing this Agreement;

		
	•
	You have read this Agreement in its entirety and understand its tenns;

		
	•
	THIS AGREEMENT INCLUDES A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS;

		
	•
	In the event of a group termination as determined by Tyson, you will have received,  along  with  this  Agreement,  a  listing of  job titles  and  ages of

   /s/  TH     

6

		
	•
	Tyson employees selected and not selected for termination in connection with Tyson's  group termination;

		
	•
	You understand you have had at  least  twenty-one (21) days to  consider this Agreement before signing it;

		
	•
	You understand that you have seven (7) days after signing the Agreement to revoke it;

		
	•
	You are not otherwise entitled to the Separation Payments or any other benefits  contemplated  by  Section  2  of  this  Agreement  which  you will receive in exchange  for signing and not later revoking this Agreement; and

		
	•
	This Agreement is the entire Agreement between you and Tyson regarding the termination of your employment with Tyson.

THE  REMAINDER  OF  THIS  PAGE  IS  INTENTIONALLY   LEFT BLANK.

   /s/  TH     

7

     Thomas P. Hayes                 

(Name of Eligible Employee - Please Print)

     /s/    Tom Hayes                     

(Signature of Eligible Employee)

       Dec 1, 2018                         

(Date)

Tyson Foods, Inc.
By        Mary Oleksiuk                 
Title      EVP & CHRO                 

PLEASE RETURN THE SIGNED AND DATED RELEASE AGREEMENT TO HUMAN RESOURCES AT THE FOLLOWING ADDRESS:
Chief Human Resources Officer 
Tyson Foods, Inc., CP481
2200 Don Tyson Parkway Springdale, Arkansas 72762-6999

With a copy to:

Manan Shah 
Milbank
28 Liberty Street
New York, NY 10005

8

Exhibit A
Tom 
Hayes
	
						
	PN
	817644
	Last day 
worked 
	12/1/2018
	Age at Term
	53.85

	Term Reason
	Treated as involuntary termination without cause for 
vesting equity grants
	Term Eff. 
Date
	12/2/2018
	Service at 
Term
	12.51

	 
	 
	 
	 
	 
	 

	Stock Options (requires a signed Separation Agreement and General Release)
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 

	Grant 
Date
	Grant 
Price
	Total 
Outstanding
	Exercisable 
Before 
Term
	Exercisable
After Term
	Notes

	11/17/2017
	$77.97
	75,426
	—
	75,426
	100% vest; one year to
exercise

	11/28/2016
	$58.34
	73,739
	14,748
	73,739
	100% vest; one year to
exercise

	11/30/2015
	$50.00
	24,505
	12,253
	24,505
	100% vest; one year to
exercise

	11/21/2014
	$42.26
	41,745
	41,745
	41,745
	one year to exercise

	 
	 
	215,415
	68,746
	215,415
	 

	
					
	Restricted Stock (requires a signed Separation Agreement and General Release]
	 

	Grant 
Date
	Restricted Outstanding
	Pro-rated 
Vested
Amount 
After Term'
	 Notes
	 

	11/17/2017
	17,846.547
	6,170,781
	prorated over vesting period
	 

	11/28/2016
	20,892.614
	14,133,805
	prorated over vesting period
	 

	11/30/2015
	8,738.371
	8,738,371
	prorated over vesting period
	 

	 
	47,477,532
	29,042,957
	 
	 

	 
	 
	 
	 
	 

	1. The value of the shares shown will be  considered taxable income on the date a Release Agreement is signed and nat later revoked. The net shores after taxe, will be delivered following the later of a.) termination date or b.) the end of the revocation period (8 days ofter signing the Separation Agreement}.

	
					
	Performance Stock (requires a signed Separation Agreement and General Release]
	 

	Grant 
Date
	Perf Shares Outstanding
	Pro-rated 
Amount 
After Term2
	Final
Measurement 
Date
	 Notes

	11/17/2017
	35,269.976
	12,195,260
	10/3/2020
	prorated over vesting period

	11/28/2016
	40,709.633
	27,539,973
	9/28/2019
	prorated over vesting period

	11/30/2015
	16,864.95
	16,864,950
	9/29/2018
	prorated over vesting period

	 
	92,844,559
	56,600,183
	 
	 

	 
	 
	 
	 
	 

	2. Final shares to be determined ofter final measurement dole based on company achievement of performance goals

	
				
	New ESP (Contributions 2005 and After)

	$15,335.60
	2015-2018 Balances as of 9-17-18
	lf DOT 12-1-2018
Lump sum June 2019 (Lump sum default; less 
than 401k limit]

	5 annual installments beg. later of Jan following termination or Jan following age 62
	 

   /s/  TH     

	
				
	Hillshire Executive Deferred Compensation Plan

	$1,664,832.76
	Balances as of 9-17-18
	lf DOT 12-1-2018

Lump sum Jan 2020

	Lump sum Jan 2020
	 

	
				
	Hillshire 401k SERP

	$966,961.27
	Balances as of 9-17-18
	lf DOT 12-1-2018

Lump sum July 2019

	Lump sum in seventh month following termination of employment

This election cannot be changed.
	 

	
				
	Supplemental Executive Retirement Plan (SERP)

	Not vested. Forfeiture of benefits.

	
				
	Annual Incentive Plan

	$1,347,242
	FY18 estimated award at current projected funding level; final amount to be adJusted for final results.

	$313,486
	FY19 estimated pro-rated award at target.

   /s/  TH     

10

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