Document:

Exhibit

EXECUTION VERSION

CONFIDENTIAL SEPARATION AND RELEASE AGREEMENT
This CONFIDENTIAL SEPARATION AND RELEASE AGREEMENT (this “Agreement”) is entered into by and between Lilis Energy, Inc., a Nevada corporation (the “Company”), and Ronald D. Ormand (“Employee”) (collectively referred to as the “Parties”).  

1.Separation from Employment.  Employee’s last day of employment with the Company is June 6, 2019 (the “Separation Date”). Regardless of whether Employee signs this Agreement, Employee shall receive all wages and benefits earned through the Separation Date and for which he is entitled pursuant to the terms of the Executive Employment Agreement entered into as of July 5, 2016 (the “Employment Agreement”), less any and all customary and usual deductions or withholdings.  Employee shall also be paid for his accrued, unused vacation through the Separation Date, which is equal to 12 days. Employee’s health and other medical insurance coverage will cease at midnight on the last day of the month of the Separation Date. As of the Separation Date, Employee may elect to continue group health plan covered under COBRA. The Company will provide Employee with a description of his COBRA rights and COBRA notices by separate letter. If Employee elects to continue group health plan coverage under COBRA, Employee will be responsible for paying full COBRA rates for the period of his coverage. The Employee shall also receive reimbursement for reasonable out-of-pocket expenses incurred by Employee prior to the Separation Date relating to the business or affairs of the Company, provided that the Employee submits supporting documentation for the expenses, and such expenses have been approved in accordance with the Company’s regular reimbursement procedures in effect as of the Separation Date. Employee may not sign this Agreement before the Separation Date.
2.    Effective Date of this Agreement.  This Agreement will become final, binding and enforceable on the eighth (8th) day after Employee signs this Agreement, provided that Employee does not revoke (cancel) this Agreement during the seven (7) day Revocation Period as defined in Paragraph 16 of this Agreement (the “Effective Date”).
3.    Consideration for the Release.  The Parties agree that the Separation Payment and other consideration that will be provided to Employee under this Agreement are in consideration for the release and waiver of any and all claims set forth in Paragraph 4 of this Agreement and all other promises and obligations made by Employee in this Agreement.
(a)    Separation Payment and Other Consideration.  For an in consideration of Employee’s execution, delivery and non-revocation of this Agreement, the Company agrees to pay Employee one lump sum payment equal to the sum of (i) 12 months of Base Salary (currently $500,000), minus applicable withholding and deductions, (ii) separation payment of $500,000 in part as consideration for the extension of the non-competition term in the Employment Agreement, among other things, and (iii) an amount equal to 18 months of COBRA premiums based on the terms of the Company’s group health care plan and Employee’s coverage under such plan as of the Effective Date, minus applicable withholding and deductions (collectively, the “Separation Payment”).  The Separation Payment shall be paid to Employee as soon as practicable after the Effective Date (and in no event later than the first regular payroll date following the Effective Date) in accordance with the Company’s normal payroll administration procedures; provided that all conditions precedent to payment of the 

Separation Payment described in Paragraph 3(b) of this Agreement have been satisfied.  The Company will issue Employee an IRS Form W-2 for the Separation Payment.  Employee acknowledges that Employee is not otherwise entitled to the Separation Payment or any other consideration provided to Employee under this Agreement. Employee further acknowledges that Employee has been paid all wages, bonuses, commissions and other compensation owed for all work and any earned but unused vacation time by Employee through the Separation Date.  Additionally, the Company has agreed to extend the period to exercise certain options granted and vest certain restricted stock awards to Employee as set forth in Appendix A upon the occurrence of the Effective Date.
(b)    Conditions Precedent for the Separation Payment.  To become entitled to the Separation Payment, Employee must (i) agree to the terms of this Agreement; (ii) sign this Agreement in its original form; (iii) deliver it to Joseph C. Daches, either by courier or mail to 201 Main Street, Suite 1351, Fort Worth, Texas 76102 or by email at JDaches@lilisenergy.com on or before the twenty-second (22nd) day after the date that Employee receives this Agreement; (iv) comply with the terms of this Agreement; (v) return all Company property (to the Company’s satisfaction, in its sole discretion) pursuant to this Agreement and Section 13.4 of the Employment Agreement, and (vi) assist, to the extent requested prior to the Effective Date, in the transition of his duties and responsibilities pursuant to Paragraph 13 of this Agreement. Employee understands and agrees that if Employee revokes (cancels) this Agreement before the end of the Revocation Period described in Paragraph 15, Employee shall not receive the Separation Payment.
(c)    Fair and Adequate Consideration.  The Parties acknowledge and agree that the Separation Payment described above, along with the Parties’ respective promises and obligations under this Agreement, together constitute good, sufficient and adequate consideration for the release and waiver by Employee of any and all claims described in Paragraph 4 of this Agreement as well as all other promises and obligations made by Employee in this Agreement.
4.    Full Release of Claims.  Employee, on behalf of Employee and Employee’s spouse (if any), representatives, estate, heirs, executors, administrators, successors or any persons or entities acting by or through Employee or on Employee’s behalf hereby KNOWINGLY AND VOLUNTARILY WAIVE, RELEASE AND DISCHARGE the Company and its past, present and future parent, subsidiary, affiliated, or related companies, together with each and all of their respective past, present and future shareholders, investors, officers, directors, partners, members, managers, principals, servants, employees, agents, contractors, representatives, attorneys, insurers, predecessors, successors, and assigns (collectively, the “Related Parties”) from and against any and all rights, claims, complaints, debts, losses, liabilities, demands, obligations, promises, acts, agreements, grievances, losses, arbitrations, defenses, actions, causes of action and/or damages, whether in law or in equity, known or unknown, accrued or unaccrued, direct or derivative, liquidated or unliquidated, and suspected or unsuspected, that are based upon facts, events, acts or omissions occurring on or before the Effective Date of this Agreement, including, but not limited to, any matter or action related to Employee’s employment with or separation from the Company.  Employee understands and agrees that the release of claims contained in this Paragraph includes, but is not limited to: 
(a)    any and all claims arising under any state or local laws, rules, regulations or ordinances, including but not limited to all claims arising under any federal laws, rules or regulations, including 

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but not limited to, Title VII of the Civil Rights Act of 1964; the Employee Retirement Income Security Act of 1974; the Worker Adjustment and Retraining Notification Act; the Americans with Disabilities Act of 1990; the Age Discrimination in Employment Act of 1967, as amended; the Family and Medical Leave Act of 1993; and the Fair Labor Standards Act, as amended;
(b)    any and all tort, contract, statutory or common law claims, matters or actions; and,
(c)    any and all claims for money or past or future employment benefits, including but not limited to, wages, salary, bonuses, vacation pay, medical or dental insurance coverage, severance pay, pension or profit sharing benefits, commissions, deferred compensation, and/or other benefits, which accrued on or before the Effective Date as a result of Employee’s employment with or separation from the Company.
Notwithstanding the foregoing, the Parties hereby agree that this release of claims excludes and does not apply to (a) any claim for unemployment compensation, (b) any claim for workers’ compensation benefits, (c) any benefits that Employee is entitled to receive under any Company plan that is a qualified plan under IRC § 401(a) or is a group health plan subject to continuation of benefits as required by the Texas Insurance Code or other applicable law, (d) any rights or payments to which Employee is entitled on account of Employee’s ownership of equity of any Related Party, and (e) any existing right Employee has to indemnification, contribution or a defense or any directors and officers and general liability insurance coverage.
5.    Covenant Not To Sue.  Employee promises and agrees not to sue the Company or the Released Parties (other than with respect to any action to enforce or challenge the terms of this Agreement) in any court, agency or tribunal, or file any petition, complaint, action, cause of action, lawsuit, administrative charge, claim, controversy, demand, grievance, arbitration or other legal proceeding, whether by way of direct action or by counterclaim, cross-claim, or interpleader, against any of the Related Parties arising out of or relating to Employee’s employment with or separation from the Company (unless such proceeding is a class action in which case Employee agrees to “opt out” of the class and not participate in the class action or unless such proceeding is at or initiated by the Equal Employment Opportunity Commission) relating to any events occurring on or before the Effective Date of this Agreement.  If Employee breaches this covenant, Employee hereby acknowledges and agrees that Employee shall be liable to and shall DEFEND, INDEMNIFY AND HOLD HARMLESS the Company and the Related Parties from and against any liability, claims, demands, damages, costs, expenses and attorneys’ fees incurred by the Company or any of the Related Parties as a result of such breach.  This Paragraph does not require payment of the Separation Payment as a condition precedent to recovery by any of the Related Parties against Employee under this Paragraph. 
6.    No Admission of Liability.  Neither the payment of any consideration under this Agreement, nor the execution or delivery of this Agreement shall in any way constitute or be construed as an admission, express or implied, by the Company or Employee of any improper actions or liability. The Parties each specifically deny and disclaim any alleged liability or wrongdoing. Nothing contained in this Agreement shall acknowledge or imply that either Employee or the Company violated any federal, state or local laws, rules, regulations or ordinances. Employee hereby acknowledges, promises and represents that Employee has no knowledge of any fraud, illegal activity or violation of federal, state or local law by the Company or any of the Related Parties.

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7.    Non-Disparagement.  Employee promises and agrees not to, directly or indirectly, engage in any act or conduct, or cause any act or conduct to occur, that is intended or may reasonably be expected to defame, disparage, damage or harm the reputation, business, prospects or operations of the Company or the Related Parties, whether by oral, visual, electronic, written or other means of expression or communication including, but not limited to on any website, forum, chatroom, blog, social media, news outlet or other method of expression, publication or communication.  The Company promises and agrees not to, directly or indirectly, and to take commercially reasonable efforts to cause its directors, officers, employees and agents not to, engage in any act or conduct, or cause any act or conduct to occur, that is intended or may reasonably be expected to defame, disparage, damage or harm the reputation, business, prospects or operations of Employee, whether by oral, visual, electronic, written or other means of expression or communication including, but not limited to on any website, forum, chatroom, blog, social media, news outlet or other method of expression, publication or communication. Notwithstanding the foregoing or any other provision of this Agreement, nothing in this Agreement limits either party’s ability (i) to testify truthfully as compelled by process of law or (ii) to communicate with any government agencies or otherwise participate in any investigation or proceeding that may be conducted by any government agency, including providing documents or other information and reporting possible violations of law or regulation or other disclosures protected under the whistleblower provisions of applicable law or regulation, without notice to the other party, or limits any right to receive an award for information provided to any government agencies.
8.    Continuing Non-Solicitation Obligation of Employee. Employee understands and acknowledges that the Company has expended and continues to expend significant time and expense in recruiting and training its employees, and that the loss of employees would cause significant and irreparable harm to the Company. Employee agrees that the non-solicitation provisions contained in Section 12 of the Employment Agreement remains in full force and effect after the Effective Date of this Agreement. Unless expressly consented to by the Company in writing, Employee shall not seek directly or indirectly, by the offer of alternative employment or other inducement whatsoever, to solicit, hire, recruit, or induce the termination of any employee of the Company or its subsidiaries for a period of one (1) year beginning on the Separation Date.
9.    Continuing Obligations Regarding Confidential Information. Employee promises and agrees not to, directly or indirectly, use or disclose or cause to be disclosed to any third party any confidential, proprietary or trade-secret information of or related to the Company’s business, including, but not limited to, any documents, information or data (whether in written, electronic, digital or other form) containing or related to the Company’s finances, products and services, research and development, marketing strategies or endeavors, billing strategies or practices, pricing or profit margins, and cost structures. Employee further warrants, promises and covenants that, as of the Effective Date, Employee has returned to the Company all confidential, proprietary or sensitive materials and information of or related to the Company or any Related Parties including, but not limited to, all documents, materials, audio or tape recordings, flash drives or other storage devices, or electronically-stored data or information constituting or containing confidential, proprietary or sensitive information of or related to the Company, any Related Parties, or any of the Company’s clients or customers.  The Parties agree that the confidentiality provision contained in this Paragraph is a material part of this Agreement and that any violation of this Paragraph shall be considered a material breach of this Agreement.  The Parties further agree that, notwithstanding anything contained in this Paragraph, 

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any agreements that Employee entered into during Employee’s employment related to confidentiality or non-disclosure of information, including but not limited to Section 13 of the Employment Agreement shall remain in full force after the Effective Date of this Agreement.  
10.    Confidentiality of this Agreement.  Employee promises and agrees not to, directly or indirectly, disclose or cause to be disclosed to any third party, including employees of the Company or any Related Parties, the existence or terms of this Agreement; provided, however, that Employee has the right to disclose the terms of this Agreement to Employee's spouse (if any), financial/tax advisor or attorney, in response to a governmental inquiry, including a governmental tax audit or a judicial subpoena, or as otherwise required by law.  Employee agrees that neither this Agreement nor any version of this Agreement shall be admissible in any forum as evidence against the Company except in a proceeding to challenge or enforce this Agreement.
11.    Return of Company Documents and Other Property.  Employee hereby promises and agrees that, as of the Effective Date, Employee has (i) returned to the Company any and all Company property, including but not limited to, any and all electronic or personal devices owned or leased by the Company (including computers, tablets, laptops, cell phones, smartphones, PDAs and the like); access or security keys or cards (including computer tokens, keys, access cards, parking cards and the like); electronic storage devices (including CDs, DVDs, USB drives, zip drives, thumb drives, jump drives, internal or external hard drives, computer disks and the like) that contain documents or information related to the Company or the Related Parties; Company credit cards, debit cards or checkbooks; and all other property, documents, data, records or information (whether in written, electronic, digital or other form) in Employee’s possession, custody or control that relates to the Company, any Related Parties, any of the Company’s clients or customers; provided, however, that Employee may retain, at his own expense, his current cell phone and cell phone number after removing any Company confidential information in cooperation with representatives of the Company; and (ii) deleted or destroyed all copies of any such documents and materials not returned to the Company that were in Employee’s possession or control, including those stored on any non-Company devices, networks, storage locations and media.  Employee also represents and warrants that Employee has not retained copies of any Company documents, materials or information (whether in hardcopy, on electronic media or otherwise).  Employee shall disclose to the Company all passwords needed for the Company to access any information that Employee has password-protected on any computer equipment or computer network of the Company. 
12.    Non-Competition.  Employee understands and acknowledges that the Company has invested substantial time, money and specialized knowledge in developing and improving its business in the energy industry, including the development of confidential, proprietary and trade secret information. Because of the Company’s legitimate business interest and the good and valuable consideration offered to the Employee under this Agreement, the Employee reaffirms the non-competition obligations set forth in Section 12 of the Employment Agreement and agrees and covenants that that Employee will not, for a period of twenty-four months following the Separation Date, without prior written consent of the Company’s Board of Directors, accept a position to perform duties similar to those performed by Employee while at the Company, directly or indirectly (whether as a proprietor, stockholder, director, partner, employee, agent, independent contractor, consultant, trustee or in any other capacity) with respect to any property, drilling program, oil and gas leasehold, project or field, in which the 

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Company participates, or has any investment or other business interest in, within five miles of the boundary of any existing Company leasehold in the United States in which the Company has conducted business at any time within the one-year period immediately preceding the Separation Date, other than in the Central Basin platform (a “Competing Enterprise”); provided, however, that Employee shall not be deemed to be participating or engaging in a Competing Enterprise solely by virtue of Employee’s ownership of not more than 4.9% of any class of stock or other securities which are publicly traded on a national securities exchange or in a recognized over-the-counter market.  Employee acknowledges and agrees that the terms of this Paragraph 12, including the duration and geographical limitations, are reasonable and that Company would suffer irreparable harm if Employee were to violate this Paragraph 12.  For purposes of this Agreement, the Central Basin platform (CBP) is a tectonically uplifted basement block capped by a carbonate platform between the Delaware and Midland Basins in the larger Permian basin, and is subdivided into several formations mainly comprised of carbonate reef deposits and shallow marine clastic sediments.
13.    Cooperation.  Employee agrees that, as requested by the Company or its counsel, he will fully cooperate with the Company and its counsel in any formal or informal inquiry, investigation, disciplinary or other proceeding initiated by any government, regulatory or law enforcement agency (including without limitation the Brennan Short and Seth Blackwell litigation, the Securities and Exchange Commission, FINRA, formerly the National Association of Securities, Inc., or the Office of Thrift Supervision). Employee further agrees to fully cooperate with the Company and its counsel in both the pursuit or prosecution of any claim or right the Company may hold against others for damages or relief and in defending the Company against any pending or future claims, complaints or actions brought against the Company, including but not limited regulatory actions, administrative proceedings, arbitration claims, lawsuits or independent investigations by the Board in conjunction with a stockholder demand. In this regard, Employee agrees that he will promptly provide all information or documents he may possess relevant to the subject matter of any inquiry, and that he will testify truthfully and with complete candor in connection with any such regulatory, administrative or legal action or proceeding. To the extent possible, the Company will try to limit Employee’s participation to regular business hours. Any request for cooperation by the Company hereunder will provide reasonable advance notice and take into account, to the extent practicable, Employee’s personal and professional schedule.
14.    Twenty-One (21) Days to Consider this Agreement. Employee acknowledges and agrees that Employee (a) is advised to consult with an attorney; (b) has been fully informed and is fully aware of Employee's right to discuss any and all aspects of this matter with an attorney of Employee's choice; (c) has had up to and including a full twenty-one (21) calendar days within which to consider this Agreement before signing it; (d) has the option to waive the right to take a full twenty-one (21) days by signing this Agreement before the end of the twenty-one (21) day period; and (e) shall not become entitled to the Separation Payment unless Employee signs and delivers this Agreement to Joseph C. Daches, either by courier or mail to 201 Main Street, Suite 1351, Fort Worth, Texas 76102 or by email at JDaches@lilisenergy.com before the end of the twenty-one (21) day period, and does not revoke (cancel) this Agreement under Paragraph 15.
15.    Seven (7) Day Revocation Period.  Employee acknowledges and agrees that (a) for a period of seven (7) calendar days following the date that Employee signs this Agreement, Employee may 

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revoke (cancel) this Agreement (the "Revocation Period"); and (b) this Agreement shall not become effective or enforceable until the Revocation Period has expired.  In order to revoke (cancel) this Agreement, Employee must submit Employee’s revocation (cancellation) via email to Joseph Daches at JDaches@lilisenergy.com, before the end of the Revocation Period; and, any and all originals or copies of the Agreement must be returned to Joseph Daches, either by courier or mail to 201 Main Street, Suite 1351, Fort Worth, Texas 76102 at the time of such revocation (cancellation). Employee understands and agrees that if Employee revokes (cancels) this Agreement before the end of the Revocation Period, Employee shall not receive the Separation Payment. Employee represents, acknowledges and agrees that Employee fully understands Employee's rights and obligations under this Paragraph.
16.    Successors.  This Agreement, including specifically Paragraphs 7, 8, 9, 10, 11 and 12, and their respective subparts, shall inure to the benefit of and be binding upon the heirs, representatives, successors (by merger, acquisition or otherwise) and assigns of the Parties.
17.    Governing Law; Choice of Forum.  This Agreement shall be governed by, and construed and enforced according to, the laws of the State of Texas without regard to conflict of law rules or principles. Employee and the Company each hereby submit to the personal jurisdiction of, and venue in, the federal and state courts in the county of Harris and the State of Texas, which the Parties agree shall be the exclusive jurisdiction and venue for any actions, claims or disputes arising out of or relating to this Agreement. The Parties acknowledge and agree that this Paragraph is a material inducement for the Company to enter into this Agreement.
18.    Indemnification. In the event that Employee is made a party or threatened to be made a party or a witness to any action, suit, or proceeding (a “Proceeding”), by reason of the fact that Employee is or was a director or officer of, an employee or consultant of, or was otherwise acting on behalf of, the Company, any affiliate of the Company, any employee benefit plan or any other entity at the request of the Company, Employee shall be indemnified and held harmless by the Company, to the maximum extent permitted under applicable law, from and against any and all liabilities, costs, claims and expenses, including any and all costs and expenses (including attorneys’ fees) incurred in defense of any Proceeding, and all amounts paid in settlement thereof after consultation with, and receipt of approval from, the Company, which approval shall not be unreasonably withheld, conditioned or delayed. Costs and expenses incurred by Employee in defense of such Proceeding shall be paid by the Company in advance of the final disposition of such litigation upon receipt by the Company of: (i) a written request for payment; (ii) appropriate documentation evidencing the incurrence, amount and nature of the costs and expenses for which payment is being sought; and (iii) an undertaking adequate under applicable law made by or on behalf of Employee to repay the amounts so paid if it shall ultimately be determined that Employee is not entitled to be indemnified by the Company under this Agreement. The rights to indemnification and advancement of costs and expenses provided in this Paragraph 18 are not and will not be deemed exclusive of any other rights or remedies to which Employee may at any time be entitled under applicable law, the organizational documents of the Company or any of its subsidiaries, any agreement or otherwise, and each such right under this Paragraph 18 will be cumulative with all such other rights, if any. For a period of six years after the Separation Date, the Company or any successor to the Company hereunder shall maintain, at its own 

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expense, liability insurance providing coverage to Employee on terms that are no less favorable than the coverage provided to directors and senior officers of the Company as of the Effective Date.
19.    Complete Agreement.  This Agreement represents the complete agreement and understanding between the Parties concerning the subject matter in this Agreement, and supersedes all prior agreements or understandings, verbal or written, pertaining to the subject matter of this Agreement. No oral understandings, statements, covenants, promises, terms, conditions, or obligations contrary or in addition to the terms of this Agreement exist other than those expressly set forth in this Agreement. Notwithstanding the foregoing, Employee acknowledges and agrees that upon the Effective Date, Employee shall continue to be bound by any and all agreements, policies or procedures of the Company related to the confidentiality and non-disclosure of any confidential, proprietary or trade-secret information of the Company, the Related Parties or any customer or client of the Company, as well as any non-compete or non-solicitation obligations Employee may have agreed or entered in to upon or during Employee’s employment with the Company.  
20.    Modification of this Agreement.  This Agreement may not be changed by oral representations and may only be amended or modified by a written instrument signed by each of the Parties, or their respective authorized representatives, successors or assigns, and must expressly state that it is the intention of each of the Parties to amend this Agreement.
21.    Waiver Only Effective if in Writing.  No failure by either party at any time to give notice of any breach by the other party of, or to require compliance with, any condition or provision of this Agreement shall be deemed a waiver of such provision or condition of this Agreement.  No waiver shall be binding unless in writing and signed by the party waiving the breach.
22.    Headings.  Any titles or headings used in this Agreement are intended only for convenience and reference.  Such titles and headings do not nor are they intended to be interpretive of the contents of any paragraph or provision in this Agreement.
23.    Severability of Unenforceable Terms.  If any of the provisions, terms, clauses, waivers or releases of claims and rights contained in this Agreement, or parts thereof, are declared void, voidable, illegal, unenforceable or ineffective in a legal forum of competent jurisdiction, such provisions, terms, clauses, waivers or releases of claims or rights, or parts thereof, shall be modified, if possible, in order to achieve, to the extent possible, the intentions of the Parties. If necessary, however, such provisions, terms, clauses, waivers and releases of claims and rights, or parts thereof, shall be severed from this Agreement, and the remaining provisions, terms, clauses, waivers and releases of claims and rights contained in this Agreement shall remain valid and binding upon Parties.
24.    Other Representations.  By signing this Agreement, Employee acknowledges and agrees that Employee: 
(a) has carefully read and fully understands all of the provisions, duties and rights of this Agreement; 
(b) has been given a fair opportunity to discuss and negotiate the terms of this Agreement; 

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(c) has been advised to consult with an attorney of Employee’s choice regarding this Agreement and has had an opportunity to do so; 
(d) has determined that it is in Employee’s best in interest to enter into this Agreement; 
(e) has not been influenced to sign this Agreement by any statement or representation by the Company not contained in this Agreement; 
(f) accepts the terms of this Agreement as fair and equitable under all the circumstances; and 
(g) enters into this Agreement knowingly and voluntarily. Employee acknowledges and agrees that Employee’s decision to sign this Agreement is not a result of any fraud, duress, mistake or undue influence or leverage.

READ CAREFULLY BEFORE SIGNING
THIS IS A LEGALLY BINDING DOCUMENT. THIS AGREEMENT CONTAINS A RELEASE AND WAIVER OF EMPLOYEE’S RIGHTS UNDER FEDERAL, STATE AND LOCAL LAWS, RULES, REGULATIONS AND ORDINANCES. BY SIGNING THIS AGREEMENT, EMPLOYEE UNDERSTANDS THAT EMPLOYEE IS WAIVING ANY AND ALL RIGHTS EMPLOYEE HAS, HAD, MAY HAVE OR MAY HAVE HAD AGAINST THE COMPANY UNDER SUCH LAWS. BEFORE SIGNING, EMPLOYEE SHOULD REVIEW THIS AGREEMENT CAREFULLY AND SEEK THE ADVICE OF AN ATTORNEY TO DISCUSS THIS AGREEMENT INCLUDING THE LEGAL EFFECT OF SIGNING THIS AGREEMENT. BY SIGNING BELOW, THE PARTIES REPRESENT TO EACH OTHER THAT THEY HAVE REVIEWED AND DISCUSSED THIS AGREEMENT WITH AN ATTORNEY, HAVE SATISFIED THEMSELVES THAT THEY FULLY UNDERSTAND THE TERMS OF THIS AGREEMENT, AND ARE VOLUNTARILY EXECUTING THIS AGREEMENT ONLY AFTER SUCH CONSULTATION.
IN WITNESS WHEREOF, the Parties have executed this Agreement on the dates set forth below.	
		
	EMPLOYER
	EMPLOYEE

	Sign Name: /s/ Joseph C. Daches
	Sign Name: /s/ Ronald D. Ormand

	Print Name: Joseph C. Daches
	Print Name: Ronald  D. Ormand

	Title: President and CFO
	Date: June 6, 2019

	Date: June 6, 2019
	 

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Appendix A

Options – Term Extended as of Effective Date
		
	•
	250,000 options granted December 15, 2016 @2.98 per share:  post-termination exercise period extended for an additional two years. 

Restricted Stock -- Vesting Accelerated as of Effective Date
		
	•
	2017 grant -- 165,000 shares scheduled to vest 10/5/2019.

		
	•
	2019 grant -- 264,000 shares scheduled to vest 2/14/2020 and 264,000 shares scheduled to vest 2/14/2021.

10Exhibit 10.1

  

  

  

  

  

  
    EMPLOYMENT AGREEMENT

    

    

    This employment agreement (this “Agreement”) is hereby entered into as of May 31, 2019 by and between Casey’s General Stores, Inc., an Iowa
        corporation (the “Company”), and Darren M. Rebelez (“Executive”) (each, a “Party”), to become effective as of June 24, 2019 (the “Effective Date”).

    

    

    WITNESSETH:

    

    

    WHEREAS, the Company wishes to appoint Executive as its President and Chief Executive Officer pursuant to the terms and conditions hereof
        and, in order to induce Executive to enter into this Agreement and to secure the benefits to accrue from his performance hereunder, is willing to undertake the obligations assigned to it herein; and

    

    

    WHEREAS, Executive is willing to commence his employment with the Company under the terms hereof and to enter into the Agreement.

    

    

    NOW THEREFORE, in consideration of the premises and mutual covenants contained herein and for other good and valuable consideration, the
        receipt of which is hereby acknowledged, the Parties hereto agree as follows:

    

    

     

    1.           POSITION;

            REPORTING; RESPONSIBILITIES. 

    

    

    1.1                   Executive shall serve as President and Chief Executive Officer of the Company during the Term (as defined below).  Executive shall at all times report directly to, and be subject to the supervision,
        control and direction of, the Board of Directors of the Company (the “Board”).  Executive shall have the duties, responsibilities and authorities commensurate with the position of chief executive officer of a company of the size and scope of the
        Company and as assigned to Executive from time to time by the Board and not inconsistent with the Bylaws of the Company.  Executive’s principal office shall be the Company’s corporate headquarters in Ankeny, Iowa, subject to necessary travel on the
        Company’s business.

    

    

    1.2                   During the Term, Executive shall devote his full time and attention and give his best efforts and skills to furthering the business and interests of the Company; provided, that, the foregoing shall not prevent Executive from volunteering his time and efforts on behalf of charitable, civic and professional organizations to the extent it does not interfere or
        conflict with Executive’s responsibilities under this Agreement.  Except as set forth in Exhibit A attached hereto, Executive is not authorized to be a member of a board
        of another corporation or organization without the express written approval of the Board.

    
      

      

      2.            TERM.

       

      

    

    The term of employment under this Agreement shall commence as of the Effective Date and shall continue through the third anniversary of the Effective Date unless sooner
      terminated in accordance with this Agreement, and thereafter as herein provided.  Executive’s term of employment shall automatically renew for subsequent one-year periods, the first of which would begin on June 24, 2022, subject to the terms of this
      Agreement (including any earlier termination in accordance with this Agreement), unless either Party gives written notice at least six (6) months prior to the expiration of the then existing term of his or its decision not to renew. The period during
      which Executive is employed pursuant to the terms of this Agreement is referred to as the “Term”.
    

    

    
      
        

      2

    

    
    

    

    
      
        
          3.            COMPENSATION.

        

      

    

    

    

    3.1                   Base Salary.  The Company shall pay Executive a base salary during the Term at an annual rate of Nine Hundred Fifty Thousand Dollars
          ($950,000) (the “Base Salary”), less applicable deductions and tax withholdings, payable in accordance with the standard payroll practices of the Company.  During the Term, the Base Salary shall be reviewed annually and may be increased by the
          Board at any time and from time to time as the Board may determine to be appropriate, in its reasonable discretion.

    

    

    3.2                   Annual Bonus.  Executive shall be eligible to receive an annual bonus (the  “Annual Bonus”) in respect of each fiscal year
        of the Company ending during the Term, with a target bonus opportunity equal to 100% of Executive’s Base Salary earned by Executive in respect of such fiscal year and a maximum bonus opportunity equal to 200% of such target bonus opportunity,
        subject to the achievement of performance goals as determined by the Compensation Committee of the Board (the “Compensation Committee”).  All Annual Bonuses payable to Executive shall be determined and paid as soon as practicable following the end
        of the applicable fiscal year and in any event no later than March 15th of the calendar year following the fiscal year for which such bonus is earned and payable.  During the Term, the Annual Bonus target opportunity shall be reviewed annually and
        may be increased by the Board at any time and from time to time as the Board may determine to be appropriate, in its reasonable discretion.

    

    

    3.3                    Long-Term Incentive Awards.

    

    

                   (a)            Make-Whole Award.  On the Effective Date, subject to Executive’s commencement of employment
        with the Company on such date, Executive shall be granted under the Company’s 2018 Stock Incentive Plan (the “2018 Plan”) (i) an award of restricted stock units (“RSUs”)  with a grant date value equal to Three Million Eight Hundred Fifty Thousand
        Dollars ($3,850,000) and (ii) an award of performance-based restricted stock units (“PSUs”) with a target grant date value equal to One Million Eight Hundred Fifty Thousand Dollars ($1,850,000) (collectively, the “Make-Whole Award”).  The RSUs
        shall vest over a three-year period in equal installments on each of the first three anniversaries of the grant date.  The PSUs shall cliff vest between 0% and 200% of target on the third anniversary of the grant date, subject to the achievement of
        applicable performance goals related to the Company’s total shareholder return relative to its peer group for fiscal years 2020, 2021 and 2022, as determined by the Compensation Committee in its reasonable discretion and not inconsistent with the
        annual PSU awards granted to other senior executives of the Company in fiscal year 2020.  The Make-Whole Award shall be subject to and governed in all respects by the terms of the award agreements between Executive and the Company entered into with
        respect to such Make-Whole Award, which shall include the Company’s standard terms and conditions currently applicable to such awards regarding termination of employment; provided
        that such award agreements shall provide that (x) in the event that Executive’s employment with the Company is terminated by the Company without Cause or by Executive for Good Reason (each, as defined below) prior to the applicable vesting date
        (other than within 24 months following a Change of Control (as defined in the 2018 Plan)), subject to Executive satisfying the Severance Condition (as defined below) pursuant to Section 7.5 and, in the case of any unvested PSUs, to the Company’s
        achievement of the applicable performance goals, the unvested portion of the Make-Whole Award, if any, shall remain outstanding and continue to vest in accordance with its original terms for a period of 24 months following the date of such
        termination and (y) in the event that Executive’s employment with the Company is terminated due to Executive’s death or Disability (as defined below) during the Term, the unvested portion of the Make-Whole Award, if any, shall immediately vest in
        full, and the performance goals applicable to any unvested PSUs shall be deemed satisfied at target or, in the event that such termination occurs within twenty-four (24) months following a Change of Control, shall be determined based on the
        Company’s actual performance immediately prior to such Change of Control; provided, further,
        that such award agreements shall include such other terms as the Company determines necessary to ensure that the Make-Whole Award complies with Section 409A of the Internal Revenue Code, including current and future guidance and regulations
        interpreting such provisions (collectively, “Code Section 409A”).

    

    

    
      
        

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      (b)            Annual LTI Award.  Subject to approval of the Board or the Compensation Committee and Executive’s
        continued employment on the applicable grant date, Executive shall be eligible to receive an annual equity award with a target grant date value equal to Two Hundred Seventy-Five Percent (275%) of Executive’s Base Salary in respect of each fiscal
        year of the Company during the Term (the “Annual LTI Award”).  Annual LTI Awards shall generally be subject to terms and conditions applicable to the Company’s other senior executives, and each Annual LTI Award shall be subject to and governed in
        all respects by the terms of the award agreement between Executive and the Company entered into with respect to such award.  Annual LTI Awards shall be made in accordance with the Company’s normal annual grant cycle beginning in fiscal year 2020; provided that the Annual LTI Awards made in fiscal year 2020 shall be made on the Effective Date, subject to Executive’s commencement of employment with the Company on such
        date.  During the Term, the target Annual LTI Award shall be reviewed annually and may be increased by the Board at any time and from time to time as the Board may determine to be appropriate, in its reasonable discretion.

    

    

    
      
        	4.	
                EMPLOYEE BENEFITS.

              

      

    

    

    

    4.1                    Benefits.  Except as set forth in Section 7.4 herein, during the Term and subject to all eligibility requirements, and to
        the extent permitted by law, Executive shall have the opportunity to participate in all incentive, savings, retirement, welfare and other employee benefit plans, practices, policies and programs generally available to the Company’s employees in
        accordance with the provisions thereof as in effect from time to time, including, without limitation, the annual incentive plans and bonus pools established by the Compensation Committee; medical, prescription and dental insurance coverages; group
        life and accidental death and travel accident insurance coverages; holidays and vacations; 401(k) and deferred compensation plans and programs; short-term and long-term disability plans; and other fringe benefits as may be in effect from time to
        time.

    

    

    4.2                     Company Automobile.  During the Term, the Company shall provide Executive with a Company-owned automobile.  Executive
        acknowledges that he shall be subject to applicable federal and state income and other employment related taxes for his personal use thereof.

    

    

    
      
        

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    4.3                     Relocation.  Executive shall be required to relocate to Des Moines, Iowa, or the surrounding area, as soon as reasonably
        practicable following the Effective Date.  To minimize the disruption of Executive’s relocation to Iowa, the Company shall reimburse Executive for (a) up to Two Hundred Thousand Dollars ($200,000) in transaction costs actually incurred by Executive
        in connection with the sale of Executive’s residence in California and up to Fifteen Thousand Dollars ($15,000) for reasonable and customary fees and expenses actually incurred by Executive in connection with purchasing replacement residential real
        estate in the Des Moines area (such amounts, collectively, the “Relocation Payment”); (b) the reasonable cost of relocating Executive’s household possessions to Iowa, including the reasonable costs associated with packing, shipping and delivering
        furniture and other household goods and shipping and delivering up to two (2) automobiles, in each case, from California to Iowa; and (c) the cost of up to six roundtrip tickets between California and Iowa for the period from the Effective Date
        through December 31, 2019, which tickets may be used by Executive or his spouse, in each case, which reimbursement shall be made no later than March 15, 2020, subject to Executive’s presentation of invoices and such other information as the Company
        shall reasonably require.  In addition, the Company shall provide Executive with a monthly stipend of Five Thousand Dollars ($5,000) (and not to exceed Thirty Thousand Dollars ($30,000) in the aggregate) for the period from the Effective Date
        through the earlier of the sale of Executive’s residence in California and December 31, 2019.  In the event that Executive terminates his employment other than for Good Reason or the Company terminates Executive’s employment for Cause, in each
        case, on or prior to the first anniversary of the Effective Date, Executive shall be required to reimburse the Company for the Relocation Payment within ninety (90) days following such termination.

    

    

    
      
        	5.	
                LIFE INSURANCE BENEFITS.

              

      

    

    

    

    At the beginning of the Term, the Company shall purchase at its sole expense and maintain in full force and effect a ten-year level premium term life
        insurance policy with a death benefit of One Million Dollars ($1,000,000) that insures the life of Executive and is payable upon the death of Executive to a beneficiary designated by Executive (the “Policy”).  The Company shall execute such
        documents as may be necessary or advisable to assign the ownership of such Policy to Executive upon the expiration of the Term.

    

    

    
      
        	6.	
                EXPENSE REIMBURSEMENTS.

              

      

    

    

    

    During the Term, Executive shall be entitled to receive prompt reimbursement from the Company for all reasonable, out-of-pocket expenses incurred by him (in
        accordance with policies and procedures established by the Company), in connection with his performing services hereunder, provided Executive properly accounts therefor.

    

    

    
      
        	7.	
                TERMINATION OF EMPLOYMENT.

              

      

    

    

    

    7.1                    Death.  In the event of the death of Executive during the Term of this Agreement (other than within twenty-four (24)
        months following a Change of Control), this Agreement shall terminate and all obligations of the Company to Executive shall cease as of the date of death, with the exception of (a) all rights to advancement and indemnification in respect of
        Executive’s service as a director or officer of the Company or any of its subsidiaries, which shall continue without regard to the termination of this Agreement or Executive’s employment with the Company, and (b) those obligations accrued or earned
        and vested (if applicable) by Executive as of the date of death, including for this purpose Executive’s full Base Salary through the date of Executive’s termination at the rate then in effect, plus any compensation previously deferred by Executive
        (together with any accrued interest thereon) and not yet paid by the Company, any accrued vacation pay not yet paid by the Company, any entitlement Executive has pursuant to Section 5 to have the Policy assigned to him (or his beneficiaries) and
        any reimbursements to which Executive is entitled pursuant to Section 4.3 or 6 (those obligations described in this clause (b), together, the “Accrued Obligations”), all of which shall be paid to Executive’s estate or beneficiary, as applicable, in
        a lump sum in cash within thirty (30) calendar days following the date of Executive’s death.  All rights and benefits of Executive under any stock option, restricted stock, and/or restricted stock units award agreements, or arising under the
        benefit plans and programs of the Company in which Executive is then a participant, or which are otherwise available to surviving family members of Company employees (collectively, “Benefit Plans and Agreements”), shall be provided as determined in
        accordance with the terms and provisions of such agreements, plans and programs; provided that the Make-Whole Award shall be treated in accordance with the provisions of
        Section 3.3(a).

    

    

    
      
        

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    7.2                     Disability.  In the event of Executive’s Disability (as defined below), the Company may give Executive written notice that
        this Agreement shall terminate effective on the 30th calendar day following the date of such notice due to Executive’s Disability.  In such event, Executive’s employment with the Company shall terminate effective on the 30th day after receipt of
        such notice by Executive; provided that, within the thirty (30) days after such receipt, Executive shall not have returned to full-time performance of Executive’s
        duties.  In such event, (a) all obligations of the Company to Executive shall cease on the date specified in the notice, other than the payment of the Accrued Obligations, which shall be paid to Executive in a lump-sum cash payment within thirty
        (30) calendar days following the date of such termination, and all rights to advancement and indemnification in respect of Executive’s service as a director or officer of the Company or any of its subsidiaries, which shall continue without regard
        to the termination of this Agreement or Executive’s employment with the Company, and (b) Executive shall thereafter be entitled to receive disability and other benefits payable under the Company’s long-term disability insurance coverage.  All
        rights and benefits of Executive under any Benefit Plans and Agreements, or which are otherwise available to disabled employees and/or their family members, shall be provided as determined in accordance with the terms and provisions of such
        agreements, plans and programs; provided that the Make-Whole Award shall be treated in accordance with the provisions of Section 3.3(a).  For purposes of this Agreement,
        “Disability” means (i) permanent and total disability as determined under the Company’s long-term disability plan applicable to Executive or (ii) if there is no such plan applicable to Executive, a disability which, at least twenty-six (26) weeks
        after its commencement, is determined to be total and permanent by a physician selected by the Company or its insurers; provided, however, that if any amounts payable under this Agreement constitute deferred compensation (within the meaning of Code Section 409A), and payment of such amount is intended to be triggered pursuant
        to Code Section 409A(a)(ii) by Executive’s disability, such term shall mean that Executive is considered “disabled” within the meaning of Code Section 409A.

    

    

    7.3                     By Company For Cause.  The Company may terminate Executive’s employment, remove him as an officer of the Company and
        terminate this Agreement at any time for “Cause” (as defined below).  In the event of such termination for Cause, all obligations of the Company to Executive shall cease, other than (i) the payment of the Accrued Obligations through the date of
        such termination for Cause, which shall be paid to Executive in a lump-sum cash payment within thirty (30) calendar days following the date of such termination, and (ii) all rights to advancement and indemnification in respect of Executive’s
        service as a director or officer of the Company or any of its subsidiaries, which shall continue without regard to the termination of this Agreement or Executive’s employment with the Company.  Any rights and benefits Executive may have under any
        Benefit Plans and Agreements shall be determined in accordance with the terms and provisions of such agreements, plans and programs.  The term “Cause” shall mean (a) Executive’s willful misconduct in the performance of Executive’s duties, including
        but not limited to violation of any Company policy, this Agreement or any other agreement between Executive and the Company or its subsidiaries, including the restrictive covenants to which Executive is subject under Section 8 hereof; (b)
        embezzlement, fraud or dishonesty by Executive; (c) commission by Executive of a felony; or (d) other personal or professional conduct that can reasonably be expected to bring public embarrassment or disgrace to the Company or its subsidiaries.

    

    

    
      
        

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    7.4                   By Company Without Cause or by Executive for Good Reason (Other Than Within Twenty-Four (24) Months Following a Change of Control). 

        The severance benefits to which Executive is entitled under this Section 7.4 shall be in lieu of severance benefits under any severance plan of the Company, as may be in place from time to time, in which Executive is otherwise eligible to
        participate during the Term.

    

    

    (a)            Without Cause.  The other provisions of this Agreement notwithstanding, the Company may terminate
        Executive’s employment, remove him as an officer and terminate this Agreement at any time for whatever reason it deems appropriate, without Cause and with or without prior notice.  In the event of such a termination, all rights and benefits of
        Executive under any Benefit Plans and Agreements shall be determined in accordance with the provisions of such agreements, plans and programs; provided that the
        Make-Whole Award shall be treated in accordance with the provisions of Section 3.3(a).  Furthermore, in the event of any termination of Executive’s employment by the Company without Cause during the Term (other than within twenty-four (24) months
        following a Change of Control), subject, in the cases of clauses (ii) and (iii) of this Section 7.4(a), to Executive satisfying the Severance Condition (as defined below) pursuant to Section 7.5, Executive shall be entitled to:

    

    

    
      	 	i.	any Accrued Obligations through the date of such termination, which shall be paid to Executive in a lump-sum cash payment within thirty (30)
                calendar days following the date of such termination, and all rights to advancement and indemnification in respect of Executive’s service as a director or officer of the Company or any of its subsidiaries, which shall continue without
                regard to the termination of this Agreement or Executive’s employment with the Company;
	 	

            	
               

            
	 	
               ii.

            	severance pay equal to twenty-four (24) months’ Base Salary, which shall be payable to Executive in a lump-sum cash payment within seventy
                (70) calendar days following the date of such termination (such amount, the “Severance Pay”); and

      

      

      

      

      
        
          

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	 	iii.	a monthly cash payment equal to the monthly COBRA premium Executive would be required to pay to continue group health coverage as
                in effect on the date of such termination for Executive and his eligible covered dependents for a period of twenty-four (24) months following the date of such termination (collectively, the “Benefits Continuation Payments”); provided that any monthly payments that would otherwise have been paid prior to satisfaction of the Release Period shall be paid in a lump sum within ten (10) days
                after the Release Period has been satisfied.

    

    

     (b)            For Good Reason.  Executive may terminate his employment at any time during the Term for Good
        Reason (as defined below), subject to the terms of this Section 7.4(b).  In the event of any termination of Executive’s employment by Executive for Good Reason during the Term pursuant to this Section 7.4(b) (other than within twenty-four (24)
        months following a Change of Control), Executive shall receive all payments and benefits described in Section 7.4(a), and Executive shall be subject to all obligations and conditions set forth in Section 7.4(a) in respect of a Good Reason
        termination by Executive, including, without limitation, in respect of Executive satisfying the Severance Condition pursuant to Section 7.5.  The term “Good Reason” shall mean any of the following actions taken by the Company without Executive’s
        consent:  (i) a material diminution of Executive’s title, authority, duties or responsibility; (ii) a reduction in Executive’s Base Salary, Annual Bonus target opportunity or target Annual LTI Award; (iii) requiring that Executive report to an
        individual or entity other than the Board; or (iv) requiring that Executive relocate Executive’s primary workplace more than fifty (50) miles from the workplace in effect on the Effective Date; provided, however, that the occurrence of any of the events described in clauses (i) through (iv) above shall not constitute Good Reason unless (x) Executive provides the Company with written notice within sixty (60)
        calendar days after the initial occurrence of any of such event that Executive believes that such event constitutes Good Reason; (y) the Company thereafter fails to cure any such event within thirty (30) calendar days after receipt of such notice;
        and (z) Executive’s date of termination as a result of such event occurs within thirty (30) calendar days after the expiration of the cure period.

    

    

    7.5                     Conditions for Severance Pay and Benefits Continuation Payments.  Notwithstanding anything above to the contrary,
        Executive agrees that the treatment of the Make-Whole Award upon termination without Cause or for Good Reason under Section 3.3(a) and his entitlement to the Severance Pay and Benefits Continuation Payments under Section 7.4 shall be contingent
        upon (a) Executive executing a general release of any claims related to his employment and termination hereunder, with such release to be substantially in the form attached hereto as Exhibit

            B, subject to updates required by applicable law, and such release becoming effective and irrevocable no later than the sixtieth (60th) calendar date after Executive’s date of termination from the Company (or such longer period as
        may be required by applicable law) (the “Release Period”) and (b) Executive strictly complying with the terms of this Agreement and any other written agreements between the Company and Executive, including without limitation Executive’s compliance
        with the obligations under Section 8 below that survive the termination Executive’s employment (collectively, the “Severance Condition”).  Executive further agrees that the treatment of the Make-Whole Award under Section 3.3(a), the Severance Pay
        and Benefits Continuation Payments shall be full and adequate compensation to Executive for all damages Executive may suffer as a result of the termination of his employment without Cause or for Good Reason.

    

    

    
      
        

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    7.6                     Change of Control.  In the event of a “Change
        of Control” of the Company, as such term is defined in the 2018 Plan, Executive shall thereupon become entitled to all of the rights, payments and benefits set forth in the Change of Control Agreement that is attached hereto as Exhibit C (the “Change of Control Agreement”), and this Agreement shall automatically terminate, and the Company shall have no further obligation to Executive under this
        Agreement; provided, however, that (a) the provisions of Section 3.3(a) in respect of the
        Make-Whole Award that are applicable following a Change of Control shall remain applicable, (b) Sections 5 and 8 hereof shall continue in effect and be binding on the Company and Executive following any “Change of Control”, and (c) all rights to
        advancement and indemnification in respect of Executive’s service as a director or officer of the Company or any of its subsidiaries shall continue in effect following any “Change of Control”.

    

    

    7.7                     Voluntary Termination.  Executive may terminate his employment of his own volition and without Good Reason at any time
        prior to the end of the Term upon thirty (30) calendar days’ prior written notice to the Company, unless waived in writing by the Company.  Such termination shall constitute a voluntary termination, and in such event the Company’s only obligation
        to Executive shall be to pay all Accrued Obligations to Executive through the date of such termination in a lump-sum cash payment within thirty (30) calendar days following the date of such termination, and all rights to advancement and
        indemnification in respect of Executive’s service as a director or officer of the Company or any of its subsidiaries, which shall continue without regard to the termination of this Agreement or Executive’s employment with the Company.  All rights
        and benefits Executive may have under any Benefit Plans and Agreements shall be determined in accordance with the terms and provisions of such agreements, plans and programs.

    

    

    7.8                     Expiration of Term.  Any termination of Executive’s employment at the end of the then-current Term due to a notice of
        non-renewal provided by either Party pursuant to Section 2 of this Agreement shall be considered an expiration of the Agreement governed by the terms of this Section 7.8.  Under such circumstances, Executive’s employment will cease, Executive will
        be removed as an officer of the Company, and Executive’s resignation as a Director will become effective, and all obligations of the Company to Executive shall cease, other than the payment of the Accrued Obligations to Executive through the date
        of such expiration in a lump-sum cash payment within thirty (30) calendar days following the date of such expiration, and all rights to advancement and indemnification in respect of Executive’s service as a director or officer of the Company or any
        of its subsidiaries, which shall continue without regard to the termination of this Agreement or Executive’s employment with the Company.  Any rights and benefits Executive may have under any Benefit Plans and Agreements shall be determined in
        accordance with the provisions of such agreements, plans and programs.  Notwithstanding the foregoing, the expiration of the Term shall be treated as a termination by the Company without Cause solely for purposes of any unvested portion of the
        Make-Whole Award under Section 3.3(a).

    

    

    7.9                     Resignation Upon Termination.  Executive acknowledges that a condition precedent to his being appointed to the position of
        President and Chief Executive Officer and receiving any of the compensation or benefits set forth in this Agreement was his agreement to execute and deliver to the Company an irrevocable letter of resignation from the Board and all other positions
        and offices of the Company and its subsidiaries, in a form reasonably satisfactory to the Company.  The resignation shall provide that if Executive’s employment ends for any reason, Executive tenders his resignation from the Board and all other
        positions and offices of the Company and its subsidiaries simultaneously with the termination of employment.  The Board shall have unfettered discretion to accept or not accept such resignation.

    

    

    
      
        

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    7.10                Survival following Termination.  Executive acknowledges and agrees that the obligations of Executive set forth under
        Section 8 herein shall remain in full force and effect following termination of this Agreement and Executive’s termination of employment for any reason (other than in the event of Executive’s death).

    

    

    
      
        	8.	
                COVENANTS OF EXECUTIVE.

              

      

    

    

    

    8.1                    Executive shall promptly disclose to the Company and assign to the Company his entire right, title, and interest in any invention, idea, or work, whether patentable or not or copyrightable or not,
        which is conceived or made solely or jointly by him while employed by the Company and which relates in any manner to the actual or reasonably anticipated business, research, or other activities of the Company or which is suggested by or results
        from any task assigned to or performed by Executive on behalf of the Company.  Executive further agrees that he promptly shall disclose to the Company any and all inventions, ideas, or works covered by this paragraph, and that he, if requested,
        shall promptly execute a specific assignment of title to the Company for such inventions, ideas, or works, and that he shall take all reasonable actions necessary to enable the Company to secure patent, copyright or other protection in the United
        States and in foreign countries.  If the Company is unable because of Executive’s mental or physical incapacity to secure Executive’s signature to apply for or to pursue any application for any United States or foreign letters patent or copyright
        registrations covering inventions and original works of authorship belonging to the Company hereunder, then Executive hereby irrevocably designates and appoints the Company and its duly authorized officers and agents as his agent and attorney in
        fact, to act for and in his behalf to execute and file any such applications and to do all other lawfully permitted acts to further the prosecution and issuance of letters patent or copyright registrations thereon with the same legal force and
        effect as if executed by him.  Executive hereby waives and quitclaims to the Company any and all claims, of any nature whatsoever, that he may hereafter have for infringement of any patents or copyright resulting from any such application for
        letters patent or copyright registrations belonging to the Company hereunder.

    

    

    8.2                    As used in this Agreement, the term “Confidential Information” includes so much of the Company’s information, knowledge, inventions, discoveries, ideas, research, methods, practices, processes,
        systems, formulae, designs, concepts, products, projects, improvements and developments that have unique and special value to the Company, and that are not generally known to the public or its competitors.  The term shall include but not be limited
        to (a) trade secrets, as defined by law; (b) information relating to possible store locations or acquisitions, current or possible new products or services to be offered for sale in the Company’s stores, operating methods or procedures used in the
        business of the Company, in each case, that are not generally known to the public, other than as a result of Executive’s breach of this Agreement; (c) financial condition, profits, and indebtedness of the Company; (d) people and entities with whom
        the Company has existing or prospective business and employment relationships and information the Company has or may receive regarding those relationships, in each case, that are not generally known to the public, other than as a result of
        Executive’s breach of this Agreement; (e) information the Company has received from others that carries an obligation to treat it as confidential or proprietary; and (f) other matters or details not otherwise publicly disclosed, including
        disclosures in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”) whether in the form of memoranda, reports, computer software and data banks, customer lists, employee lists, books, records, financial statements,
        manuals, papers, contracts or strategic plans.

    

    

    
      
        

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    8.3                     Executive acknowledges that the Company competes with other organizations that are or could be located in any of the states in which the Company does business.  Executive further acknowledges that in
        the course of the Company’s business, it has amassed a significant body of Confidential Information, which has been acquired over a number of years and at great expense, to which Executive will be provided access in order to perform his duties at
        the Company, and that Executive will add to the Confidential Information during the course of his employment.  Executive further acknowledges that the Confidential Information is and shall remain the sole and exclusive property of the Company, and
        that the Company has proprietary interests in maintaining the secrecy of its Confidential Information.  Executive further acknowledges that as a result of the services to be rendered to the Company hereunder, Executive will be brought into close
        contact with Confidential Information of the Company, its subsidiaries and affiliates that is not readily available to the public.

    

    

    8.4                     Executive shall hold in a fiduciary capacity for the benefit of the Company all Confidential Information of the Company or any of its subsidiaries, and their respective businesses, which shall have
        been obtained by Executive during Executive’s employment by the Company or any of its subsidiaries and which shall not be or become public knowledge (other than by acts by Executive or his representatives in violation of this Agreement). 
        Specifically, during his employment, Executive shall exercise the utmost care to safeguard the Confidential Information and, except as required or appropriate in the proper performance of his duties to the Company, shall only Disclose (as defined
        below) the Confidential Information as directed or permitted by the Company and in order to further the Company’s best interests, as required to comply with a validly issued court order or administrative subpoena.  Except as required for the proper
        performance of his duties, Executive shall not copy any documents, data, tapes, or other media containing the Confidential Information or remove any of the Confidential Information.  During his employment, Executive shall, upon the request of the
        Company, immediately return any and all of the Confidential Information in Executive’s possession, custody, or control.  For purposes of this provision, “Disclose” shall mean to directly or indirectly divulge, convey, reproduce, summarize,
        reformat, show, discuss, use, or tangibly possess in verbal, written, or electronic form, the Confidential Information.

    

    

    8.5                    Upon termination of the employment relationship between Executive and the Company, regardless of the reason, Executive shall immediately return to the Company any and all Confidential Information
        within Executive’s possession, custody, or control.  In addition, Executive shall immediately return to the Company all Company-owned property, including but not limited to keys, passwords, passcards, identification cards, credit cards, vehicles,
        computers, printers, pagers, smart phones and PDAs.  In addition, upon termination of the employment relationship between Executive and the Company, regardless of the reason, without the prior written consent of the Company, Executive shall not
        ever Disclose any Confidential Information other than to those designated by the Company, or except as may be required to comply with a validly issued court order or administrative subpoena or as contemplated under Section 8.8 below.

    

    

    
      
        

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    8.6                     Executive acknowledges that part of the information included in Confidential Information in this Section 8 includes information regarding the Company’s personnel (including, without limitation,
        information about salaries, duties, qualifications, performance levels, and terms of compensation of other employees), customers and suppliers.  Executive agrees that during the time Executive is employed by the Company and for a period of two (2)
        years following the date of the termination of Executive’s employment relationship with the Company, regardless of the reason for the termination, Executive shall not directly or indirectly (such as by providing information or assistance to any
        other person or entity) (i) encourage any person who was an employee of the Company during the time Executive was employed by the Company to leave the employ of the Company, or (ii) interfere with, disrupt or attempt to disrupt, any existing
        relationship, contractual or otherwise, between the Company, its subsidiaries or affiliated entities, and any customer, client, supplier or agent of the Company.

    

    

    8.7                     Executive agrees that during the time Executive is employed by the Company and for a period of two (2) years following the date of termination of the employment relationship between Executive and the
        Company, regardless of the reason for the termination, Executive shall not, directly or indirectly, own, manage, operate, control be employed by (whether as an employee, consultant, independent contractor or otherwise, and whether or not for
        compensation) or render services to any person, firm, corporation or other entity, in whatever form, that is a competitor of the Company without the prior written consent of the Company, which may be granted or withheld by the Company in its sole
        and absolute discretion.  Notwithstanding the foregoing, nothing herein shall prohibit Executive from owning not more than 2% of the equity securities of a publicly traded corporation engaged in a business that is a competitor of the Company or any
        of its subsidiaries, so long as the Executive (a) has no active participation in the business of such corporation and (b) is not a controlling person of, or a member of a group which controls, such publicly traded corporation.  For purposes of this
        Section 8.7, the word “competitor” means any person or entity engaged, directly or indirectly through a subsidiary or affiliate, in the business of operating retail “convenience stores”; gasoline stations, travel plazas or other vehicle fuel
        outlets; or “quick serve” pizza restaurants or other “fast food” pizza outlets, in each case, in two or more states, at least one of which is a state in which the Company has operations or that Executive knows is a state in which the Company is
        actively considering the establishment of operations.

    

    

    8.8                     (a) This Agreement is not intended to limit or restrict, and shall not be interpreted in any manner that limits or restricts, Executive from exercising any legally protected whistleblower rights
        (including pursuant to Section 21F of the Securities Exchange Act of 1934 (“Section 21F”)) or receiving an award for information provided to any government agency under any legally protected whistleblower rights. Notwithstanding anything in this
        Agreement to the contrary, nothing in or about this Agreement prohibits Executive from:  (i) filing and, as provided for under Section 21F, maintaining the confidentiality of a claim with the SEC; (ii) providing Confidential Information to
      the SEC, or providing the SEC with information that would otherwise violate this Section 8, to the extent permitted by Section 21F; (iii) cooperating, participating or assisting in an SEC investigation or proceeding without notifying the Company; or
      (iv) receiving a monetary award as set forth in Section 21F.
      

      

    

    
      
        

      12

    

    

    

    (b)  Executive acknowledges that Executive has been notified that under the Defend Trade Secrets Act:  (i) no individual will be held
        criminally or civilly liable under federal or state trade secret law for disclosure of a trade secret (as defined in the Economic Espionage Act) that is: (x) made in confidence to a federal, state, or local government official, either directly or
        indirectly, or to an attorney, and made solely for the purpose of reporting or investigating a suspected violation of law, or (y) made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal so
        that it is not made public; and (ii) an individual who pursues a lawsuit for retaliation by an employer for reporting a suspected violation of the law may disclose the trade secret to the attorney of the individual and use the trade secret
        information in the court proceeding, if the individual files any document containing the trade secret under seal, and does not disclose the trade secret, except as permitted by court order

    

    

    8.9                     Upon termination of the employment relationship between Executive and the Company, regardless of the reason, Executive shall cooperate with and respond to the Company’s reasonable requests for
        information or follow-up assistance pertaining to work Executive performed on behalf of the Company or its subsidiaries or other matters in which Executive was involved or of which he was otherwise aware, including any investigation, administrative
        proceeding or litigation relating to any matter that occurred prior to the date of his termination of employment from the Company. Executive’s cooperation shall include but not be limited to making himself available for interviews or testimony if
        reasonably requested by the Company’s legal department. The Company shall reimburse Executive for any reasonable expenses incurred by Executive in connection with such requests or assistance if supported by required documentation, and shall use
        commercially reasonable efforts to ensure that any such requested interviews or testimony do not interfere with Executive’s subsequent employment. No payment made to Executive hereunder is intended to be or shall be interpreted as a payment for
        particular testimony or assistance with respect to the legal matters specified above or any other matter. Executive understands that he is to provide his good faith assistance and agrees to provide truthful responses to any requests for information
        or testimony.

    

    

    8.10                 Upon termination of the employment relationship between Executive and the Company, regardless of the reason, Executive agrees that he shall not knowingly encourage, counsel, or assist any attorneys
        or their clients in the presentation or prosecution of any disputes, differences, grievances, claims, charges, or complaints by any third party, other than a law enforcement or authorized regulatory agency of the United States Government or any
        state or local government, against the Company or its subsidiaries.  Executive agrees that, in the event he is subpoenaed by any person or entity (including, but not limited to, any government agency) to give testimony (in a deposition, court
        proceeding or otherwise) which in any way relates to Executive’s employment by the Company or its subsidiaries, to the extent reasonably practicable and subject to all applicable legal requirements, Executive shall give prompt notice of such
        request to the Company pursuant to Section 14 and will make no disclosure until the Company and/or its subsidiaries have had a reasonable opportunity to contest the right of the requesting person or entity to such disclosure. Executive shall notify
        any such person or entity of Executive’s obligations with respect to confidentiality under this Agreement, and any other applicable agreements, and Executive shall continue to honor such obligations in the course of responding to law enforcement or
        regulatory agency inquiries, as lawfully permitted and subject to the foregoing.

    

    

    
      
        

      13

    

    

    

    8.11               Executive agrees that the remedy at law for any breach or threatened breach of any covenant contained in this Section 8 may be inadequate and that the Company, in addition to such other remedies as
        may be available to it, in law or in equity, shall be entitled to injunctive relief without bond or other security.

    

    

    8.12               In addition to any other remedies that may be available to it under this Agreement, in the event of any breach by Executive of this Section 8, Executive shall forfeit without payment therefor all
        outstanding equity awards held by Executive, including any outstanding awards granted pursuant to Section 3.3 hereof, and any unpaid portion of the Severance Pay and Benefits Continuation Payments.

    

    

    8.13              Although the obligations and restrictions contained in this Section 8 are considered by the Parties hereto to be fair and reasonable in the circumstances, it is recognized that restrictions of such
        nature may fail for technical reasons, and accordingly it is hereby agreed that if any of such restrictions shall be adjudged to be void or unenforceable for whatever reason, but would be valid if part of the wording thereof were deleted, or the
        period thereof reduced or the area dealt with thereby reduced in scope, the obligations and restrictions contained in this Section 8 shall be enforced to the maximum extent permitted by law, and the Parties consent and agree that such scope or
        wording may be accordingly judicially modified in any proceeding brought to enforce such restrictions.

    

    

    8.14               Notwithstanding that Executive’s employment hereunder may expire or be terminated as provided in Sections 2 or 7 above, this Agreement shall continue in full force and effect insofar as is necessary
        to enforce the covenants and agreements of the Company and the Executive, including Executive’s obligations contained in this Section 8.  In addition, for purposes of this Section 8, the Company shall mean the Company and its subsidiaries.

    

    

    8.15               Executive acknowledges and agrees that Executive is subject to the policies and procedures of the Company, as in effect from time to time, including the Code of Business Conduct and Ethics, the
        Company’s stock ownership policy and the Company’s clawback policy related to incentive compensation.

    

    

    
      
        	9.	
                SUCCESSORS AND ASSIGNS.

              

      

    

    

    

    9.1                   Assignment by the Company.  This Agreement
        shall inure to the benefit of and shall be binding upon the successors and assigns of the Company.

    

    

    9.2                  Assignment by Executive.  Executive may not assign this Agreement or any part thereof; provided, however, that nothing herein shall preclude one or more beneficiaries of Executive from receiving any amount
        that may be payable following the occurrence of his legal incompetency or his death and shall not preclude the legal representative of his estate from receiving such amount or from assigning any right hereunder to the person or persons entitled
        thereto under his will or, in the case of intestacy, to the person or persons entitled thereto under the laws of the intestacy applicable to his estate.

    

    

    
      
        

      14

    

    

    

    
      
        	10.	
                GOVERNING LAW; JURISDICTION.

              

      

    

    

    

    This Agreement and any disputes arising hereunder or related hereto shall be governed by, and for all purposes shall be construed in accordance with, the laws
        of the State of Iowa, without regard to the principles or rules of conflict of laws thereof.  Unless the Parties agree otherwise, any legal action, suit or proceeding against either Party arising out of or in connection with this Agreement or
        disputes relating hereto shall be brought exclusively in the United States District Court for the Southern District of Iowa or, if such court does not have subject matter jurisdiction, the state courts of Iowa located in Des Moines, Iowa.  The
        Parties hereby consent and agree to submit to the jurisdiction of the State of Iowa for purposes of enforcing this Agreement.

    

    

    
      
        	11.	
                SECTION 409A.

              

      

    

    

    

    This Agreement is intended to satisfy, or be exempt from, the requirements of Code Section 409A and should be interpreted accordingly. For purposes of Code
        Section 409A, any installment payments provided under this Agreement shall each be treated as a separate payment. Notwithstanding anything to the contrary in this Agreement, if any amount payable pursuant to this Agreement constitutes a deferral of
        compensation subject to Code Section 409A, and if such amount is payable as a result of Executive’s “separation from service” at such time as Executive is a “specified employee” (within the meaning of those terms as defined in Code Section 409A),
        then no payment shall be made, except as permitted under Code Section 409A, prior to the first business day after the date that is six (6) months after Executive’s separation from service.  To the extent necessary to comply with Code Section 409A,
        if the Release Period spans two (2) calendar years, payment of the Severance Pay described in Section 7.4 hereof shall be made in the second calendar year, and payment of the Benefits Continuation Payments described in Section 7.4 shall commence in
        the second calendar year. Except for any tax amounts withheld by the Company from the payments or other consideration hereunder and any employment taxes required to be paid by the Company, Executive shall be responsible for payment of any and all
        taxes owed in connection with the consideration provided for in this Agreement.  To the extent required to avoid any accelerated taxation or penalties under Code Section 409A, amounts reimbursable to Executive under this Agreement shall be paid on
        or before the last day of the year following the year in which the expense was incurred and the amount of expenses eligible for reimbursements (and in-kind benefits provided) during any one year may not affect amounts reimbursable or provided in
        any subsequent year.  Executive shall be solely responsible for the payment of any taxes and penalties incurred under Code Section 409A.

    

    

    
      
        	12.	
                ENTIRE AGREEMENT.

              

      

    

    

    

    This Agreement and those plans and agreements referenced herein, including the Change of Control Agreement, contain all the understandings and representations
        between the Parties hereto pertaining to the subject of the employment of Executive by the Company and supersede all undertakings, term sheets and agreements, whether oral or in writing, if any there be, previously entered into by them with respect
        thereto.

    

    

    
      
        

      15

    

    

    

    
      
        	13.	
                AMENDMENT OR MODIFICATION; WAIVER.

              

      

    

    

    

    No provision of this Agreement may be amended or modified unless such amendment or modification is agreed to in writing, signed by Executive and by a duly
        authorized officer of the Company and approved in advance by the Board.  Except as otherwise specifically provided in this Agreement, no waiver by either Party hereto of any breach by the other Party of any condition or provision of the Agreement
        to be performed by such other Party shall be deemed a waiver of a similar or dissimilar provision or condition at the same or any prior or subsequent time.

    

    

    
      
        	14.	
                NOTICES.

              

      

    

    

    

    Any notice to be given hereunder shall be in writing and shall be deemed to have been duly given if delivered personally or sent by overnight mail, such as
        Federal Express, addressed to the Party concerned at the address indicated below or to such other address as such Party may subsequently give notice of hereunder in writing:

    

    

    If to Company:

    

    

    Casey’s General Stores, Inc.

    One Convenience Boulevard

    Ankeny, Iowa 50021

    Attn:  General Counsel

    

    

    If to Executive:

    

    

    Darren M. Rebelez

    (at Executive’s primary address on the books and records of the Company from time to time)

    

    

    
      
        	15.	
                SEVERABILITY.

              

      

    

    

    

    In the event that any provision or portion of this Agreement shall be determined to be invalid or unenforceable for any reason, the remaining provisions or
        portions of this Agreement shall be unaffected thereby and shall remain in full force and effect to the fullest extent permitted by law.

    

    

    
      
        	16.	
                WITHHOLDING.

              

      

    

    

    

    Anything to the contrary notwithstanding, all payments required to be made by the Company hereunder to Executive or his beneficiaries, including his estate,
        shall be subject to withholding and deductions as the Company may reasonably determine it should withhold or deduct pursuant to any applicable law or regulation.  In lieu of withholding or deducting, such amounts, in whole or in part, the Company
        may, in its sole discretion, accept other provision for payment as permitted by law, provided it is satisfied in its sole discretion that all requirements of law affecting its responsibilities to withhold such taxes have been satisfied.

    

    

    
      
        

      16

    

    

    

    
      
        	17.	
                SURVIVORSHIP.

              

      

    

    

    

    The respective rights and obligations of the Parties hereunder shall survive any termination of this Agreement to the extent necessary to the intended
        preservation of such rights and obligations.

    

    

    
      
        	18.	
                HEADINGS.

              

      

    

    

    

    Headings of the sections of this Agreement are intended solely for convenience and no provision of this Agreement is to be construed by reference to the title
        of any section.

    

    

    
      
        	19.	
                COUNTERPARTS.

              

      

    

    

    

    This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, and all of which together shall constitute one and the
        same instrument.  Delivery of an executed counterpart of a signature page of this Agreement by facsimile transmission or electronic means (including by “pdf”) shall be effective as delivery of a manually executed counterpart of this Agreement.

    

    

    
      
        	20.	
                KNOWLEDGE AND REPRESENTATION.

              

      

    

    

    

    Executive acknowledges that the terms of this Agreement have been fully explained to him, that Executive understands the nature and extent of the rights and
        obligations provided under this Agreement, and that Executive has had the opportunity and sought such legal counsel in the negotiation and preparation of this Agreement as he has determined to be appropriate.

    

    

    IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the date first set forth above.

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    [Signature Page Follows]

     

      

    
      
        

    

    

    

    

    

    
      	 	DARREN M. REBELEZ	 	 	 	CASEY’S GENERAL STORES, INC.	 
	 	

            	 	 	 	 	 
	By:

            	
              /s/ Darren M. Rebelez 

            	 	 	By:

            	
              /s/ H. Lynn Horak 

            	 
	 	
              Name:  

              

            	Darren M. Rebelez	 	 	 	
              Name:  

              

            	H. Lynn Horak	 
	 	
              

              

            	 	 	 	 	
              Title:

            	Chairman of the Board of Directors	 

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    
      [Signature Page to Darren M. Rebelez Employment Agreement]

    

    

    

    

    

    

    

    
      
        

    

    Exhibit A - 1

    

    

    

    

    EXHIBIT A

    

    

    EXECUTIVE’S EXISTING BOARD MEMBERSHIPS

    

    

    

    

    

    

    
      
        	

              	1.	
                Torchmark Corporation, Member of Board of Directors

              

      

    

    

    

    
      
        	

              	2.	
                Children of Fallen Patriots Foundation, Member of Board of Advisors

              

      

    

    

    
      
        

      Exhibit B - 1

    

    
    

    

    EXHIBIT B

    

    

    Form of General Release

    

    

    [CASEY’S LETTERHEAD]

    

    

    

    

    [DATE]

    

    

    Darren M. Rebelez

    

    

    Re:            Separation and General Release

    

    

    Dear Darren:

    

    

    This general release agreement (“Release Agreement”) confirms our understanding and agreement with respect to the terms and conditions
        associated with the separation of your employment from Casey’s General Stores, Inc. (“Casey’s” or the “Company”).  Your employment with Casey’s ended on [●].  Your salary or wages, less applicable
        withholdings and deductions, has been or will be paid in full through that date, pursuant to Section 7.4 of the Employment Agreement entered into by you and the Company on May 31, 2019, effective June 24, 2019 (the “Employment Agreement”).

    

    

    1.            In consideration of the “General Release” you provide in Paragraph 2 below (as defined therein) and the other promises and representations you make in this Release Agreement, and subject to your compliance with
        Section 8 of the Employment Agreement, Casey’s agrees to provide you with the treatment of the Make-Whole Award (as defined in the Employment Agreement) as set forth under Section 3.3(a) of the Employment Agreement and the Severance Pay and
        Benefits Continuation Payments (each as defined in the Employment Agreement) under Section 7.4 of the Employment Agreement (collectively, the “Release Pay”).

    

    

    (a)            You acknowledge and represent that, except with regard to the Release Pay, all compensation and benefits due to you by Casey’s, whether by contract or by law, have been paid in full, and you have been provided all
        rights and benefits to which you are entitled without interference by Casey’s, including but not limited to vacation, sick time, paid or unpaid time off, Family and Medical Leave (“FMLA”), accommodation for any disability, and any contractual
        rights or privileges, and that you have no outstanding claims for any compensation or benefits.

    

    

    (b)            You further acknowledge and represent that the consideration provided by Casey’s in this Release Agreement is adequate and satisfactory in exchange for the General Release provided by you in Paragraph 2 below
        (including subparagraphs a, b, and c) and for the other commitments you make to Casey’s in this Release Agreement.

    

    

    
      
        

      Exhibit B - 2

    

    

    

           (c)            In the event this Release Agreement does not take effect (as provided in Paragraph 8), Casey’s shall have no obligation to provide you with the Release Pay described above.

    

    

    2.                     General Release:  In exchange for the Release Pay set forth in Paragraph 1 above, and other consideration provided to you in this Release Agreement, you hereby agree unconditionally to release, acquit, and
        forever discharge Casey’s, and all of its parents, subsidiaries, affiliates, predecessors, successors, and assigns, and all of their current and former owners, shareholders, general or limited partners, joint venturers, directors, officers,
        employees, agents, representatives, and attorneys, and any persons acting by, through, under, or in concert with any of them, and all successors and assigns thereof (collectively, “Released Parties”) from any and all claims, charges, complaints,
        demands, liabilities, obligations, promises, agreements, controversies, damages, actions, causes of action, suits, rights, entitlements, costs, losses, debts, and expenses (including attorneys’ fees and legal expenses), of any nature whatsoever,
        whether or not you know about them at the time this Release Agreement becomes effective and enforceable, and even if you would not have entered into this Release Agreement had you known about them, which you now have or may later claim to have
        against the Released Parties, individually or collectively, because of any matter, act, omission, transaction, occurrence, or event that has or is alleged to have occurred up to the date you sign this Release Agreement and is related in any way to
        Casey’s, its operations, your employment with Casey’s, or your separation from said employment, other than as set forth in Section 2(c) below (collectively, “Claims”).  You hereby waive any right to receive any benefits or remedial relief as a
        consequence of any Claims filed with or by the Equal Employment Opportunity Commission (the “EEOC”), any other state or federal agency or any other person or entity (governmental or otherwise), including any class or collective action lawsuit or
        complaint filed by any individual or entity against any of the Released Parties (such waiver together with the release in preceding sentence, the “General Release”).  This General Release does not release or waive any rights or claims that may arise after the date this Release Agreement is executed.

    

    

       (a)                  Without limiting the General Release above, you also knowingly and voluntarily waive and release any and all Claims under the Age Discrimination in Employment Act, codified at Chapter 14 of Title 29 of the
        United States Code, 29 U.S.C. § 621-634 (the “ADEA”).  However, you are not releasing any age discrimination claims that may arise under the ADEA after the date this Release Agreement becomes effective (as provided in Paragraph 8).

    

    

    (b)                 Also without limiting the General Release above, you knowingly and voluntarily waive and release any and all Claims under:

    

    

    
      
        	

              	(1)	
                Title VII of the Civil Rights Act of 1964, as amended, and 42 U.S.C. § 1981 and 42 U.S.C. § 1983;

              

      

    

    

    

    
      
        	

              	(2)	
                The Equal Pay Act and the Fair Labor Standards Act, as amended;

              

      

    

    

    

    
      
        	

              	(3)	
                The Americans with Disabilities Act;

              

      

    

    

    

    
      
        	

              	(4)	
                The FMLA;

              

      

    

    

    

    
      
        

      Exhibit B - 3

    

    

    

    
      
        	

              	(5)	
                The Employee Retirement Income Security Act of 1974 and The Consolidated Omnibus Budget Reconciliation Act;

              

      

    

    

    

    
      
        	

              	(6)	
                The Occupational Safety and Health Act of 1970;

              

      

    

    

    

    
      
        	

              	(7)	
                The Rehabilitation in Employment Act;

              

      

    

    

    

    
      
        	

              	(8)	
                The Older Workers Benefits Protection Act;

              

      

    

    

    

    
      
        	

              	(9)	
                Any and all claims based on “public policy”;

              

      

    

    

    

    
      
        	

              	(10)	
                Any and all claims under any federal, state or local laws pertaining to employment, employment compensation, or employment benefits; personal injury; injury to reputation;
                    injury to property; intentional torts; negligence; wrongful termination; constructive discharge; retaliation; discrimination; harassment; breach of express or implied contract; promissory estoppel, misrepresentation, and any and all
                    claims for recovery of lost wages or back pay, stock options, fringe benefits, pension benefits, liquidated damages, front pay, compensatory and/or punitive damages, attorneys’ fees, injunctive or equitable relief, or any other form of
                    relief; and

              

      

    

    

    

    
      
        	

              	(11)	
                Any and all other claims of any kind based on any federal, state, or local constitution, statute, law, rule, regulation, judicial doctrine, contract, or common law, or
                    other theory arising out of any matter, act, omission, transaction, occurrence, or event that has occurred or is alleged to have occurred up to the effective date of this Release Agreement, whether or not involving alleged continuing
                    violations.

              

      

    

    

    

    (c)            You also agree to secure the dismissal, with prejudice, of any proceeding, grievance, action, charge or complaint, if any, that you or anyone else on your behalf has filed or commenced against Casey’s or any of the
        other Released Parties with respect to any matter involving your employment with Casey’s, your separation from employment with Casey’s or any other matter that is the subject of the General Release.  Notwithstanding the foregoing, nothing in this
        Release Agreement is intended to limit or interfere in any way with the ability of either you or Casey’s to consult legal counsel, to provide testimony pursuant to a subpoena or notice of deposition or as otherwise required by law.  Nothing in this Release Agreement is intended to cause you to waive or release any claim which cannot be validly waived or released by private agreement.  Specifically,
          nothing in this Release Agreement prohibits you from filing a charge or complaint with, reporting possible violations of any law or regulation, making disclosures to, and/or participating in any investigation or proceeding conducted by any
          federal, state, or local agency, including the National Labor Relations Board (the “NLRB”), the EEOC, the Securities and Exchange Commission (the “SEC”), the Department of Fair Employment and Housing (the “DFEH”) and/or any governmental authority
          charged with the enforcement of any employment laws.  However, you understand that by signing this Release Agreement you are waiving the right to recover any damages or to receive other relief in any claim or suit brought by or through the EEOC,
          the DFEH or any other state or local federal agency on your behalf to the fullest extent permitted by law. Notwithstanding the foregoing, this Release Agreement is not intended to, and shall not be interpreted in any manner that limits or
          restricts you from, exercising any legally protected whistleblower rights (including pursuant to Rule 21F under the Securities Exchange Act of 1934) or receiving an award for information provided to any government agency under any legally
          protected whistleblower rights.  This General Release is not intended to, and shall not, serve as a release of your rights to (i) the Accrued Obligations
          (as defined in the Employment Agreement) or (ii) advancement and indemnification in respect of your service as a director or officer of the Company or any of its subsidiaries, which shall continue without regard to the termination of the
          Employment Agreement or your employment with the Company.

    

    

    
      
        

      Exhibit B - 4

    

    

    

    3.            You acknowledge that all, if any, known workplace injuries or occupational diseases were timely reported to Casey’s and that currently you have no known workplace injuries or occupational diseases that have not been
        reported.  You further acknowledge that you have no pending workers’ compensation claims and that this Release Agreement is not related in any way to any claim for workers’ compensation benefits, and that you have no basis for such a claim.

    

    

    4.            You covenant and agree that you will not disclose the existence or terms of this Release Agreement to any person except (a) licensed attorney(s) for the purpose of obtaining legal advice; (b) licensed or certified
        accountant(s) for the purpose of preparing tax returns or other financial services; (c) in formal proceedings to enforce the terms of this Release Agreement; or (d) as required by law or court order, provided that, if permitted by applicable law,
        you give Casey’s enough advance notice prior to any disclosure pursuant to subsection (d) to intervene or take action as appropriate.

    

    

    5.            You acknowledge that you and the Company continue to be bound by the terms of the Employment Agreement, including Section 8 thereof, and that you will not compete with Casey’s, solicit Casey’s employees and
        customers or use or disclose Confidential Information (as defined in the Employment Agreement) except as may be permitted under the Employment Agreement (such obligations, “Restrictive Covenants”).  You acknowledge that this Release Agreement
        supersedes any and all previous agreements between you and Casey’s (except for the Restrictive Covenants), and that Casey’s has made no promise to you other than what is written in this Release Agreement or the Employment Agreement or what is set
        forth in the Benefit Plans and Agreements (as defined in the Employment Agreement), with respect to the subject matter referred to in this Release Agreement.  You further acknowledge that all rights and obligations under this Release Agreement
        shall be binding upon and be granted only to you, your heirs, legatees and legal representatives and to Casey’s and each of the other Released Parties and their respective successors, assigns, heirs, legatees and legal representatives.  You also
        agree not to assign or transfer any rights or obligations under this Release Agreement.  If a court of competent jurisdiction finds that any portion of this Release Agreement is illegal or invalid, that portion will be modified or excluded from the
        Release Agreement only to the extent required by law, but the validity of the remaining portion will not be affected.

    

    

    
      
        

      Exhibit B - 5

    

    

    

     6.            By entering into this Release Agreement neither Casey’s nor you claim or admit to any liability or wrongdoing and each denies that it has any liability to the other or has acted wrongly toward the other.

    

    

     7.            You and Casey’s agree that the laws of the State of Iowa shall govern the interpretation and performance of this Agreement, and

        that any lawsuit regarding this Release Agreement may be brought only in a court of competent jurisdiction within the State of Iowa.

    

    

     8.            Regarding the ADEA, you acknowledge, understand, agree, and/or declare the following:

    

    

    
      
        	

              	(a)	
                Casey’s provided you with a copy of this Release Agreement before you signed it, and you have carefully read and fully understand Release the Agreement, and knowingly and
                    voluntarily have decided to enter into this Release Agreement, after having had a reasonable time to consider it.

              

      

    

    

    

    
      
        	

              	(b)	
                Casey’s hereby advises you to consult with and have this Release Agreement reviewed by an attorney before you sign it.

              

      

    

    

    

    
      
        	

              	(c)	
                In exchange for waiving any rights or claims, including rights or claims under the ADEA, you have received valid and sufficient consideration pursuant to this Agreement,
                    and such consideration is in addition to anything of value to which you already were entitled.

              

      

    

    

    

    
      
        	

              	(d)	
                You have been given a period of at least twenty-one (21) calendar days within which to consider this Release Agreement.  Changes to the Release Agreement, whether material
                    or immaterial, have not restarted the running of this twenty-one (21) day period.

              

      

    

    

    

    
      
        	

              	(e)	
                You may revoke this Release Agreement for a period of seven (7) calendar days following the date you signed the Agreement (the “Revocation Period”).  The Release Agreement
                    will not become effective or enforceable until the Revocation Period has expired.  If you choose to revoke the Release Agreement, you must notify Casey’s in writing, and personally deliver the notice or deposit it in the United States
                    Mail, postage prepaid, certified, or registered mail, return receipt requested, addressed to:  Casey’s General Stores, Inc., One Convenience Boulevard, Ankeny, Iowa 50021, Attn: Corporate Secretary.

              

      

    

    

    

    
      
        	

              	(f)	
                If you do not execute this Release Agreement within fifty-three (53) calendar days following the date of your termination of employment from the Company, or if you revoke
                    this Release Agreement before the expiration of seven (7) days after executing it, or, in each case, such longer period as may be required by applicable law, the Release Agreement will not become effective or enforceable, and you will
                    not be entitled to receive any payments or benefits provided under this Release Agreement.

              

      

    

    

    

    

    

    
      
        

      Exhibit B - 6

    

    

    

    

    

    

    

    Accepting the terms of this Release Agreement, and intending to be bound by its terms, you and Casey’s have signed this Release Agreement
        as of the dates shown below.

    

    

    
      

      

      

      

      
        	DARREN M. REBELEZ	 	 	CASEY’S GENERAL STORES, INC.	 
	

              	 	 	 	 
	
                

                

              	 	 	
                

                

              	 
	By:

              	 	 	 	By:

              	 	 
	
                Date:

                

              	

              	 	 	
                Name:  

                

              	

              	 
	
                

                

              	 	 	 	
                Title:

              	

              	 
	 	 	 	 	Date:

              	 	 

      

      

      

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    
      [Signature Page to Darren M. Rebelez General Release]

    

    

    
      
        

    

    Exhibit C - 1

    

    

    

    EXHIBIT C

    

    

    
      CHANGE OF CONTROL AGREEMENT

      

      

      This Change of Control Agreement (“Agreement”) is hereby entered into by and between Casey’s General Stores, Inc. (the “Company”) and
          Darren M. Rebelez (the “Employee”) (each, a “Party”), effective as of the 24th day of June, 2019.

      

      

      WHEREAS, the Board of Directors of the Company (the “Board”) has determined that it is in the best interests of the Company and its
          shareholders to assure that the Company will have the continued dedication of the Employee, notwithstanding the possibility, threat or occurrence of a Change of Control (as defined below) of the Company; and

      

      

      WHEREAS, the Board believes it is imperative to diminish the inevitable distraction of the Employee by virtue of the personal
          uncertainties and risks created by a pending or threatened Change of Control, to encourage the Employee’s full attention and dedication to the Company currently and in the event of any threatened or pending Change of Control, and to provide the
          Employee with compensation arrangements upon a Change of Control which provide the Employee with individual financial security and which are competitive with those of other corporations and, in order to accomplish these objectives, the Board has
          caused the Company to enter into this Agreement.

      

      

      NOW, THEREFORE, IT IS HEREBY AGREED AS FOLLOWS:

      

      

      1.        Certain Definitions.  (a) An “Anticipatory Qualifying Termination” means a termination of the Employee’s employment (i) by the
          Company other than for Cause, Disability or death or (ii) by the Employee for Good Reason, in each case, following a Potential Change of Control but prior to the date on which a Change of Control occurs so long as it is reasonably demonstrated
          that such termination (x) was at the request of a third party who has taken steps reasonably calculated to effect a Change of Control or (y) otherwise arose in connection with or anticipation of a Change of Control and, in either case, such
          Change of Control actually occurs (such terms, as defined below).

      

      

      (b)            “Change of Control” shall have the meaning set forth in the Company’s 2018 Stock Incentive Plan, as amended from time to time.

      

      

      (c)            The “Change of Control Period” is the period commencing on the date hereof and ending on the earlier to occur of (i) the second anniversary of such date or (ii) the first day of
          the month next following the Employee’s normal retirement date (“Normal Retirement Date”) under the terms of the Casey’s General Stores 401(k) Plan or any successor retirement plan (the “Retirement Plan”); provided, however, that commencing on the date one year after the date hereof, and on each annual
          anniversary of such date (such date and each annual anniversary thereof is hereinafter referred to as the “Renewal Date”), the Change of Control Period shall be automatically extended so as to terminate on the earlier of (x) two years from such
          Renewal Date or (y) the first day of the month coinciding with or next following the Employee’s Normal Retirement Date, unless at least 60 days prior to the Renewal Date the Company shall give notice that the Change of Control Period shall not be
          so extended; provided, further, that in the event of a Potential
          Change of Control, the Company may not provide such notice until at least one month following the public announcement of the abandonment of the transaction or series of transactions that resulted in a Potential Change of Control.

      

      

      
        
          

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      (d)            The “Effective Date” shall be the first date during the Change of Control Period on which a Change of Control occurs.  Anything in this Agreement to the contrary notwithstanding,
          in the event the Employee experiences an Anticipatory Qualifying Termination, for all purposes of this Agreement the “Effective Date” shall mean the first date during the Change of Control Period on which a Potential Change of Control occurs.

      

      

      (e)            The “Employment Period” shall be the period commencing on the first date during the Change of Control Period on which a Change of Control occurs and ending on the earlier to occur
          of (i) the second anniversary of such date or (ii) the first day of the month coinciding with or next following the Employee’s Normal Retirement Date.

      

      

      (f)            “Person” shall have the meaning ascribed to such term in Section 3(a)(9) of the Securities Exchange Act of 1934 (the “Exchange Act”), as amended, and used in Sections 13(d) and
          14(d) thereof, including a “group” as defined in Section 13(d) thereof.

      

      

      (g)            A “Potential Change of Control” shall be deemed to have occurred if either of the following events shall have occurred:  (i) the Company enters into an agreement, the consummation
          of which would result in the occurrence of a Change of Control; or (ii) the Company or any Person publicly announces an intention to take or to consider taking actions which, if consummated, would constitute a Change of Control.

      

      

      2.      Termination.  (a) Death or Disability.  The
          Employee’s employment with the Company shall terminate automatically upon the Employee’s death.  In the event of the Employee’s Disability (as defined below), the Company may give to the Employee written notice of its intention to terminate the
          Employee’s employment.  In such event, the Employee’s employment with the Company shall terminate effective on the 30th day after receipt of such notice by the Employee (the “Disability Termination Date”); provided that, within the 30 days after such receipt, the Employee shall not have returned to full-time performance of the Employee’s duties.  For purposes of this Agreement, “Disability” means (i)
          permanent and total disability as determined under the Company’s long-term disability plan applicable to the Employee or (ii) if there is no such plan applicable to the Employee, a disability which, at least 26 weeks after its commencement, is
          determined to be total and permanent by a physician selected by the Company or its insurers; provided, however,
          that if any amounts payable under this Agreement constitute deferred compensation (within the meaning of Code Section 409A, Internal Revenue Code (the “Code”), including current and future guidance and regulations interpreting such provisions
          (collectively, “Code Section 409A”)), and payment of such amount is intended to be triggered pursuant to Code Section 409A(a)(ii) by the Employee’s disability, such term shall mean that the Employee is considered “disabled” within the meaning of
          Code Section 409A.

      

      

      
        
          

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      (b)            Cause.  The Company may terminate the Employee’s employment for “Cause.” For purposes of this Agreement, “Cause”
          means (i) an act or acts of personal dishonesty taken by the Employee and intended to result in substantial personal enrichment of the Employee at the expense of the Company; (ii) willful and deliberate failure to perform the Employee’s material
          duties to the Company and which is not remedied within 10 days after receipt of written notice from the Company; or (iii) the conviction of the Employee of a felony.

      

      

      (c)            Good Reason.  The Employee’s employment may be terminated by the Employee for Good Reason.  For purposes of this
          Agreement, “Good Reason” means

      

      

      (i)            the assignment to the Employee of any duties inconsistent in any respect with the Employee’s position (including status, offices, titles and reporting requirements), authority, duties or
          responsibilities as in effect immediately prior to the Effective Date, or any other action by the Company which results in a diminution in such position, authority, duties or responsibilities;

      

      

      (ii)            a reduction in the Employee’s annual base salary, annual bonus target opportunity or target long-term incentive opportunity (each, in effect immediately prior to the Effective Date);

      

      

      (iii)            the Company’s requiring the Employee to relocate the Employee’s primary workplace more than 35 miles from such location immediately prior to the Effective Date;

      

      

      (iv)            the Company’s or any of its subsidiary’s material breach of this Agreement or any other agreement entered into between the Employee and the Company or its subsidiaries;

      

      

      (v)            the Company’s failure to pay any compensation due and owing to the Employee; or

      

      

      (vi)            any failure by the Company to comply with and satisfy Section 9(c) of this Agreement.

      

      

      Notwithstanding the foregoing, the occurrence of any of the events described in the immediately preceding clauses (i) through (vi) above
          shall not constitute Good Reason unless, (x) in accordance with Section 2(d) hereof, the Employee provides the Company with written notice within 60 calendar days after the initial occurrence of any such event that the Employee believes
          constitutes Good Reason; (y) the Company thereafter fails to cure such event within 30 calendar days after receipt of such notice; and (z) the Employee’s date of termination as a result of such event occurs within 30 calendar days after the
          expiration of the cure period.  For purposes of this Section 2(c), during the Employment Period, any good faith determination of “Good Reason” made by the Employee shall be conclusive.

      

      

      
        
          

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      (d)            Notice of Termination.  Any termination by the Company for Cause or by the Employee for Good
          Reason shall be communicated by Notice of Termination to the other Party hereto given in accordance with Section 10(c) of this Agreement.  For purposes of this Agreement, a “Notice of Termination” means a written notice which (i) indicates the
          specific termination provision in this Agreement relied upon; (ii) sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Employee’s employment under the provision so indicated; and (iii) in
          the case of a termination by the Company for Cause, if the Date of Termination (as defined below) is other than the date of receipt of such notice, specifies the Date of Termination (which date shall be not more than 15 days after the giving of
          such notice).  The failure by the Employee to set forth in the Notice of Termination any fact or circumstance which contributes to a showing of Good Reason shall not waive any right of the Employee hereunder or preclude the Employee from
          asserting such fact or circumstance in enforcing his or her rights hereunder.

      

      

      (e)            Date of Termination.  “Date of Termination” means the date of receipt of the Notice of
          Termination or any later date specified therein, as the case may be; provided, however,
          that (i) if the Employee’s employment is terminated by the Company other than for Cause or Disability, the Date of Termination shall be the date on which the Company notifies the Employee of such termination and (ii) if the Employee’s employment
          is terminated by reason of death or Disability, the Date of Termination shall be the date of death of the Employee or the Disability Termination Date, as the case may be.

      

      

      3.               Obligations of the Company upon Termination.

      

      

      (a)            Death.  If, during the Employment Period, the Employee’s employment is terminated by reason
          of the Employee’s death, this Agreement shall terminate without further obligations to the Employee’s legal representatives under this Agreement, other than (i) all rights to advancement and indemnification in respect of the Employee’s service as
          a director or officer of the Company or any of its subsidiaries, which shall continue without regard to termination of this Agreement or the Employee’s employment with the Company, and (ii) in respect of (A) the Employee’s full base salary
          through the Date of Termination at the rate in effect on the Date of Termination or, if higher, at the rate in effect immediately prior to the Effective Date through the Date of Termination (the “Highest Base Salary”); (B) the product of the
          annual bonus earned by the Employee for the last full fiscal year and a fraction, the numerator of which is the number of days in the current fiscal year through the Date of Termination, and the denominator of which is 365; (C) any compensation
          previously deferred by the Employee (together with any accrued interest thereon) and not yet paid by the Company and any accrued vacation pay not yet paid by the Company; (D) all reasonable expenses incurred by the Employee through the Date of
          Termination, which are reimbursable in accordance with the Company’s policies as in effect from time to time; provided that, following the Effective Date,
          such reimbursement policies must be at least as favorable to the Employee as in effect immediately prior to the Effective Date; and (E) other vested benefits to which the Employee is entitled in accordance with the terms of the applicable plans
          and agreements of the Company and its subsidiaries (excluding any such plans and agreements of the Company and its subsidiaries providing for severance payments and/or benefits) (such amounts specified in clause (ii) are hereinafter referred to
          as “Accrued Obligations”).  All such Accrued Obligations shall be paid to the Employee’s estate or beneficiary, as applicable, in a lump-sum in cash within 30 days of the Date of Termination or within such other period required pursuant to the
          applicable plan or agreement.  Anything in this Agreement to the contrary notwithstanding, the Employee’s family shall be entitled to receive benefits at least equal to the most favorable benefits provided by the Company and any of its
          subsidiaries to surviving families of employees of the Company and such subsidiaries under such plans, programs, practices and policies relating to family death benefits, if any, in accordance with the most favorable plans, programs, practices
          and policies of the Company and its subsidiaries in effect immediately preceding the Effective Date or, if more favorable to the Employee and/or the Employee’s family, as in effect on the date of the Employee’s death with respect to other key
          employees of the Company and its subsidiaries and their families.

      

      

      
        
          

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      (b)            Disability.  If, during the Employment Period, the Employee’s employment is terminated by reason of the
          Employee’s Disability, this Agreement shall terminate without further obligations to the Employee, other than (i) in respect of the Accrued Obligations, which shall be paid to the Employee in a lump-sum in cash within 30 days of the Date of
          Termination or within such other period required pursuant to the applicable plan or agreement, and (ii) all rights to advancement and indemnification in respect of the Employee’s service as a director or officer of the Company or any of its
          subsidiaries, which shall continue without regard to termination of this Agreement or the Employee’s employment with the Company.  Anything in this Agreement to the contrary notwithstanding, the Employee shall be entitled after the Disability
          Termination Date to receive disability and other benefits at least equal to the most favorable of those provided by the Company and its subsidiaries to disabled employees and/or their families in accordance with such plans, programs, practices
          and policies relating to disability, if any, in accordance with the most favorable plans, programs, practices and policies of the Company and its subsidiaries in effect immediately preceding the Effective Date or, if more favorable to the
          Employee and/or the Employee’s family, as in effect at any time thereafter with respect to other key employees of the Company and its subsidiaries and their families.

      

      

      (c)            Cause; Other than for Good Reason.  If, during the Employment Period, the Employee’s employment shall be
          terminated by the Company for Cause or by the Employee (other than for Good Reason), this Agreement shall terminate without further obligations to the Employee other than (i) in respect of the Accrued Obligations (excluding the prorated annual
          bonus), which shall be paid to the Employee in a lump-sum in cash within 30 days of the Date of Termination or within such other period required pursuant to the applicable plan or agreement, and (ii) all rights to advancement and indemnification
          in respect of the Employee’s service as a director or officer of the Company or any of its subsidiaries, which shall continue without regard to termination of this Agreement or the Employee’s employment with the Company.

      

      

      (d)            Good Reason; Other Than for Cause or Disability.  If, during the Employment Period, the Company shall terminate
          the Employee’s employment other than for Cause, Disability, or death or if the Employee shall terminate his or her employment for Good Reason:

      

      

      
        
          

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      (i)            The Company shall pay to the Employee in a lump-sum in cash within 30 days after the Date of Termination (or, in the case of the Accrued Obligations, within such other period specified by
          any applicable plan or agreement) the aggregate of the following amounts:

      

      

      A.            Accrued Obligations (other than the prorated annual bonus);

      

      

      B.            the product of (x) the annual bonus earned by the Employee for the last full fiscal year (if any) ending during the Employment Period or, if higher, the annual bonus earned by the Employee
          for the last full fiscal year prior to the Effective Date (as applicable, the “Recent Bonus”) and (y) a fraction, the numerator of which is the number of days in the current fiscal year through the Date of Termination and the denominator of which
          is 365;

      

      

      C.            the product of (x) 2.5 and (y) the sum of (i) the Highest Base Salary and (ii) the Recent Bonus; and

      

      

      D.            an amount equal to 30 months of the monthly COBRA premiums that the Employee would be required to pay to continue his or her group health coverage as in effect on the Date of Termination
          for himself or herself and his or her eligible covered dependents, which payment will be made less applicable withholdings and regardless of whether the Employee elects COBRA continuation coverage.

      

      

      (ii)            The Employee shall be entitled to all rights to advancement and indemnification in respect of the Employee’s service as a director or officer of the Company or any of its subsidiaries,
          which shall continue without regard to termination of this Agreement or the Employee’s employment with the Company.

      

      

      (e)            Anticipatory Qualifying Termination.  In the event that the Employee experiences an Anticipatory Qualifying
          Termination during the Change of Control Period, then the Employee shall be entitled to receive (i) any unpaid Accrued Obligations (other than the prorated annual bonus), (ii) a lump-sum cash payment within 30 days after the Change of Control in
          an aggregate amount equal to the excess, if any, of (x) the aggregate amount of the severance payments provided for in Sections 3(d)(i)(B) through (D) hereof over (y) the aggregate amount of severance payments the Employee received or is entitled
          to receive from the Company under any applicable plan of the Company or any of its subsidiaries, or any applicable agreement between the Employee and the Company or any of its subsidiaries other than this Agreement, as a result of the Employee’s
          Anticipatory Qualifying Termination, and (iii) all rights to advancement and indemnification in respect of the Employee’s service as a director or officer of the Company or any of its subsidiaries, which shall continue without regard to
          termination of this Agreement or the Employee’s employment with the Company.

      

      

      
        
          

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      4.            Non-exclusivity of Rights.  Nothing in this Agreement shall prevent or limit the Employee’s continuing or future
          participation in any benefit, bonus, incentive or other plans, programs, policies or practices, provided by the Company or any of its subsidiaries and for which the Employee may qualify (other than any other plan providing for severance payments
          or benefits), nor shall anything herein limit or otherwise affect such rights as the Employee may have under any stock option, restricted stock unit, performance-based restricted stock unit or other agreements with the Company or any of its
          subsidiaries.  For the avoidance of doubt, the Employee’s equity awards that are outstanding on the Date of Termination, if any, shall be treated in accordance with the 2009 Stock Incentive Plan and the 2018 Stock Incentive Plan (each, as amended
          from time to time), the applicable award agreements and any other agreement entered into between the Employee and the Company or its subsidiaries governing the terms of such equity awards.

      

      

      5.            Full Settlement.  The Company’s obligation to make the payments provided for in this Agreement and otherwise to
          perform its obligations hereunder shall not be affected by any set-off, counterclaim, recoupment, defense or other claim, right or action which the Company may have against the Employee or others.  In no event shall the Employee be obligated to
          seek other employment or take any other action by way of mitigation of the amounts payable to the Employee under any of the provisions of this Agreement.  In the event that the Employee prevails in a legal action, suit or proceeding against the
          Company pursuant to Section 6 hereof, the Company agrees to pay, to the full extent permitted by law, until the Employee’s death and, to his or her successors in interest, for a period of 10 years thereafter, all legal fees and expenses which the
          Employee may reasonably incur as a result of such contest by the Company, the Employee or others of the validity or enforceability of, or liability under, any provision of this Agreement or any guarantee of performance thereof (including as a
          result of any contest by the Employee about the amount of any payment pursuant to Section 3(d) or 3(e) of this Agreement), plus in each case interest at the applicable Federal rate provided for in Section 7872(f)(2) of the Code.

      

      

      6.            Governing Law; Jurisdiction.   This Agreement and any disputes arising hereunder or related hereto shall be
          governed by, and for all purposes construed in accordance with, the laws of the State of Iowa, without regard to the principles or rules of conflict of laws thereof.  Unless the Parties agree otherwise, any legal action, suit or proceeding
          against either Party arising out of or in connection with this Agreement or disputes relating hereto shall be brought exclusively in the United States District Court for the Southern District of Iowa or, if such court does not have subject matter
          jurisdiction, the state courts of Iowa located in Des Moines, Iowa. The Parties hereby consent and agree to submit to the jurisdiction of the State of Iowa for purposes of enforcing this Agreement.

      

      

      7.            Limitation on Certain Payments.  (a) Notwithstanding anything in this Agreement to the contrary, in the event it
          is determined by reasonable computation by a nationally recognized certified public accounting firm that is designated by the Company prior to the Change of Control (which accounting firm shall in no event be the accounting firm for the entity
          seeking to effectuate such Change of Control) (the “Accountant”), which determination shall be reflected in a document delivered to the Employee setting forth in reasonable detail the basis of the Accountant’s calculations (including any
          assumptions that the Accountant made in performing the calculations), that part or all of the consideration, compensation or benefits to be paid to the Employee under this Agreement or otherwise constitute “parachute payments” under Section
          280G(b)(2) of the Code, then, if the aggregate present value of such parachute payments, singularly or together with the aggregate present value of any consideration, compensation or benefits to be paid to the Employee under any other plan,
          arrangement or agreement which constitute “parachute payments” (collectively, the “Parachute Amount”) exceeds the maximum amount that would not give rise to any liability under Section 4999 of the Code, the amounts constituting “parachute
          payments” which would otherwise be payable to the Employee or for the Employee’s benefit shall be reduced to the maximum amount that would not give rise to any liability under Section 4999 of the Code (the “Reduced Amount”); provided that such amounts shall not be so reduced if the Accountant determines that without such reduction the Employee would be entitled to receive and retain, on a net
          after-tax basis (including, without limitation, any excise taxes payable under Section 4999 of the Code in respect of the Parachute Amount), an amount that is greater than the amount, on a net after-tax basis, that the Employee would be entitled
          to retain upon receipt of the Reduced Amount.  For the avoidance of doubt, this provision, shall reduce the Parachute Amount otherwise payable to the Employee, only if doing so would place the Employee in a better net after-tax economic position as compared with not doing so (taking into account any excise taxes payable in respect of such Parachute Amount).  In connection with making
          determinations under this Section 7(a), the Accountant shall take into account any positions to mitigate any excise taxes payable under Section 4999 of the Code, such as the value of any reasonable compensation for services to be rendered by the
          Employee before or after the Change of Control, including any amounts payable to the Employee following the Employee’s termination of employment hereunder with respect to any non-competition provisions that may apply to the Employee, and the
          Company shall cooperate in the valuation of any such services, including any non-competition provisions.

      

      

      
        
          

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      (b)            If the determination made pursuant to Section 7(a) results in a reduction of the payments that would otherwise be paid to the Employee except for the application of Section 7(a), the
          Company shall promptly give the Employee notice of such determination.  Such reduction in payments shall be first applied to reduce any cash payments that the Employee would otherwise be entitled to receive (whether pursuant to this Agreement or
          otherwise) and shall thereafter be applied to reduce other payments and benefits, in each case, in reverse order beginning with the payments or benefits that are to be paid the furthest in time from the date of such determination, unless, to the
          extent permitted by Code Section 409A, the Employee elects to have the reduction in payments applied in a different order; provided that, in no event may such payments
          be reduced in a manner that would result in subjecting the Employee to additional taxation under Code Section 409A.  Within five business days following such determination, the Company shall pay or distribute to the Employee, or for the
          Employee’s benefit, such amounts as are then due to the Employee under this Agreement and shall promptly pay or distribute to the Employee, or for the Employee’s benefit, in the future such amounts as become due to the Employee under this Agreement.

      

      

      
        
          

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      (c)            As a result of the uncertainty in the application of Sections 280G and 4999 of the Code at the time of a determination hereunder, it is possible that amounts will have been paid or
          distributed by the Company to or for the Employee’s benefit pursuant to this Agreement or otherwise that should not have been so paid or distributed (each, an “Overpayment”) or that additional amounts that will have not been paid or distributed
          by the Company to or for the Employee’s benefit pursuant to this Agreement could have been so paid or distributed (each, an “Underpayment”), in each case, consistent with the calculation of the Reduced Amount hereunder.  In the event that the
          Accountant (based upon the assertion of a deficiency by the Internal Revenue Service against either the Company or the Employee, with respect to which the Accountant believes the Internal Revenue Service should prevail) determines that an
          Overpayment has been made, any such Overpayment paid or distributed by the Company to or for the Employee’s benefit shall be repaid by the Employee to the Company together with interest at the applicable federal rate provided for in Section
          7872(f)(2)(A) of the Code; provided, however, that no such repayment shall be required if
          and to the extent such deemed repayment would not either reduce the amount on which the Employee is subject to tax under Sections 1 and 4999 of the Code or generate a refund of such taxes.  In the event that the Accountant, based on controlling
          precedent or substantial authority, determines that an Underpayment has occurred, any such Underpayment shall be promptly paid by the Company to or for the Employee’s benefit together with interest at the applicable federal rate provided for in
          Section 7872(f)(2)(A) of the Code.

      

      

      8.            Confidential Information.  (a) The Employee shall hold in a fiduciary capacity for the benefit of the Company
          all secret or confidential information, knowledge or data relating to the Company or any of its subsidiaries, and their respective businesses, which shall have been obtained by the Employee during the Employee’s employment by the Company or any
          of its subsidiaries and which shall not be or become public knowledge (other than by acts by the Employee or his or her representatives in violation of this Agreement).  After termination of the Employee’s employment with the Company, the
          Employee shall not, without the prior written consent of the Company, communicate or divulge any such information, knowledge or data to anyone other than the Company and those designated by it.  In no event shall an asserted violation of the
          provisions of this Section 8 constitute a basis for deferring or withholding any amounts otherwise payable to the Employee under this Agreement.

      

      

      (b)            This Agreement is not intended to limit or restrict, and shall not be interpreted in any manner that limits or restricts, the Employee from exercising any legally protected whistleblower
          rights (including pursuant to Section 21F of the Exchange Act (“Section 21F”)) or receiving an award for information provided to any government agency under any legally protected whistleblower rights. Notwithstanding anything in this Agreement to
          the contrary, nothing in or about this Agreement prohibits the Employee from: (i) filing and, as provided for under Section 21F, maintaining the confidentiality of a claim with the Securities Exchange Commission (the “SEC”); (ii) providing
          confidential information to the SEC, or providing the SEC with information that would otherwise violate this Section 8, to the extent permitted by Section 21F; (iii) cooperating, participating or assisting in an SEC investigation or proceeding
          without notifying the Company; or (iv) receiving a monetary award as set forth in Section 21F.

      

      

      
        
          

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      9.              Successors.  (a) This Agreement is personal to the Employee and without the prior written consent of the Company
          shall not be assignable by the Employee otherwise than by will or the laws of descent and distribution.  This Agreement shall inure to the benefit of and be enforceable by the Employee’s legal representatives.

      

      

      (b)            This Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns.

      

      

      (c)            The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of
          the Company to assume expressly and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place.  As used in this Agreement, “Company” shall mean
          the Company as hereinbefore defined and any successor to its business and/or assets as aforesaid which assumes and agrees to perform this Agreement by operation of law, or otherwise.

      

      

      10.            Miscellaneous.  (a) The captions of this Agreement are not part of the provisions hereof and shall have no force
          or effect.  This Agreement may not be amended or modified otherwise than by a written agreement executed by the parties hereto or their respective successors and legal representatives.

      

      

      (b)            This Agreement is intended to satisfy, or be exempt from, the requirements of Code Section 409A and should be interpreted accordingly. For purposes of Code Section 409A, any
          installment payments provided under this Agreement shall each be treated as a separate payment. Notwithstanding anything to the contrary in this Agreement, if any amount payable pursuant to this Agreement constitutes a deferral of compensation
          subject to Code Section 409A, and if such amount is payable as a result of the Employee’s “separation from service” at such time as the Employee is a “specified employee” (within the meaning of those terms as defined in Code Section 409A), then
          no payment shall be made, except as permitted under Code Section 409A, prior to the first business day after the date that is six months after the Employee’s separation from service.  Except for any tax amounts withheld by the Company from the
          payments or other consideration hereunder and any employment taxes required to be paid by the Company, the Employee shall be responsible for payment of any and all taxes owed in connection with the consideration provided for in this Agreement. 
          To the extent required to avoid any accelerated taxation or penalties under Code Section 409A, amounts reimbursable to the Employee under this Agreement shall be paid on or before the last day of the year following the year in which the expense
          was incurred and the amount of expenses eligible for reimbursements (and in-kind benefits provided) during any one year may not affect amounts reimbursable or provided in any subsequent year and may not be liquidated or exchanged for any other
          benefit.  The Employee shall be solely responsible for the payment of any taxes and penalties incurred under Code Section 409A.

      

      

      
        
          

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      (c)            All notices and other communications hereunder shall be in writing and shall be given by hand delivery to the other party or by registered or certified mail, return receipt requested,
          postage prepaid, addressed as follows:  If to the Company, to Casey’s General Stores, Inc., P.O. Box 3001, One SE Convenience Blvd., Ankeny, Iowa 50021, Attn:  General Counsel; and if to the Employee, to his or her address appearing on the books
          of the Company, or to his or her residence, or to such other address as either party shall have furnished to the other in writing in accordance herewith.  Notice and communications shall be effective when actually received by the addressee.

      

      

      (d)            The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement.

      

      

      (e)            The Company may withhold from any amounts payable under this Agreement such Federal, state or local taxes as shall be required to be withheld pursuant to any applicable law or regulation.

      

      

      (f)            The Employee’s failure to insist upon strict compliance with any provision hereof shall not be deemed to be a waiver of such provision or any other provision thereof.

      

      

      (g)            This Agreement contains the entire understanding of the Company and the Employee with respect to the subject matter hereof.

      

      

      (h)            The Employee and the Company acknowledge that the employment of the Employee by the Company is “at will”, and, prior to the Effective Date, may be terminated by either the Employee or the
          Company at any time, with or without cause, and with or without prior notice.  The Employee acknowledges that this Agreement does not constitute a contract of continued employment for any specified term, or a contract of any type for any benefits
          or rights of employment, until the Effective Date hereof, and that upon a termination of the Employee’s employment prior to the Effective Date, there shall be no further rights under this Agreement.

      

      

      IN WITNESS WHEREOF, the Employee has hereunto set his or her hand and, pursuant to the authorization from its Board of Directors, the
          Company as caused these presents to be executed in its name on its behalf, all as of the day and year first above written.

      

      

      

      

      

      

      

      

      [Signature Page Follows]

      
        
          

      

      

      

      

      

      
        

        

        
          	 	
                  COMPANY:

                   

                    

                  CASEY’S GENERAL STORES, INC.

                	 
	 	 	 	 
	 	 	 	 
	
                  

                  

                	
                  By: 

                	/s/ H. Lynn Horak 	 
	 	 	Name:	H. Lynn Horak	 
	 	 	Title:	Chairman of the Board of Directors	 
	 	 	 	 	 

        

        

        

      

      

      

      
        

        

        
          	 	EMPLOYEE:	 
	 	 	 	 
	 	 	 	 
	
                  

                  

                	
                  By: 

                	/s/ Darren M. Rebelez 	 
	 	 	Name:	Darren M. Rebelez	 
	 	 	

                	

                	 
	 	 	 	 	 

        

        

        

        

        

        

      

    

    

    

    

    

    

    

    

    

    

    

    

    

    
      [Signature Page to Darren M. Rebelez Change of Control Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00296-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00296-of-00352.parquet"}]]