Document:

Exhibit

Exhibit 10.11

TYSON FOODS, INC. 2000 STOCK INCENTIVE PLAN 
 
STOCK INCENTIVE AWARD AGREEMENT - STOCK OPTIONS
	
		
	Team Member:
	Participant Name

	Award:
	Option to Purchase Quantity Granted Shares

	Grant Date:
	Grant Date

	Exercise Price:
	$ Grant Price

	Term:
	Earlier of (i) ten (10) years; or (ii) dates set forth in Section 3

	Type of Option:
	Non-Qualified

	Vesting Schedule:
	 

	
		
	Vesting Date
	Percent of Award Vested

	11-30-2016
11-30-2017
11-30-2018
	33 1/3 %
33 1/3 %
33 1/3 %

1

Exhibit 10.11

This Award is granted on the Grant Date by Tyson Foods, Inc., a Delaware corporation, (“Tyson”) to the Team Member (hereinafter referred to as “you”) identified on the cover page of this Award Agreement.
		
	1.
	Terms and Conditions.  The Award is subject to all the terms and conditions of the Tyson Foods, Inc. 2000 Stock Incentive Plan (the “Plan”).  Unless otherwise defined herein, all capitalized terms in this Stock Options Incentive Award Agreement (the “Award Agreement”) shall have the meaning stated in the Plan. Please see the Plan document for more information on these terms and conditions. A copy of the Plan is available upon request.

		
	2.
	Vesting.  

		
	2.1.
	Vesting Schedule and Forfeiture. The Award which becomes vested pursuant to the Vesting Schedule shall be considered as fully earned and exercisable by you, subject to the further provisions of this Section 2. Any Awards which do not become vested in accordance with the Vesting Schedule as of your Termination of Employment with Tyson and/or its affiliates or the provisions of this Section 2 will be forfeited back to Tyson.  

		
	2.2.
	Death, Disability or Retirement.  In the event your employment with Tyson is terminated due to death, Disability or, subject to your timely execution and non-revocation of a Release, Retirement, you will be fully vested in your Award.  For purposes of this Award Agreement, “Retirement” shall mean your voluntary Termination of Employment without Cause from Tyson and or its affiliates on or after the later of the first anniversary of the Grant Date or the date you attain age 62.

		
	2.3.
	Change in Control.  Upon a Change in Control, all unvested options shall become fully vested on the earlier of: (i) the date you are involuntarily terminated without cause or (ii) sixty (60) days after the Change in Control.  For purposes of this Award Agreement, the term “Change in Control” shall not include any event as a result of which one or more of the following persons or entities possess or continues to possess, immediately after such event, over fifty percent (50%) of the combined voting power of the Company or, if applicable, a successor entity: (a) Tyson Limited Partnership, or any successor entity; (b) individuals related to the late Donald John Tyson by blood, marriage or adoption, or the estate of any such individual (including Donald John Tyson’s); or (c) any entity (including, but not limited to, a partnership, corporation, trust or limited liability company) in which one or more of the entities, individuals or estates described in clauses (a) and (b) hereof possess over fifty percent (50%) of the combined voting power or beneficial interests of such entity.  

		
	2.4.
	Definitions.  For purposes of this Award Agreement, “Cause,” and “Release” shall have the meanings as set forth below:

(i)    “Cause” is defined as a termination as a result of the occurrence of one or more of the following events:
(a)    any willful and wrongful conduct or omission by you that injures Tyson;
(b)    any act by you of intentional misrepresentation or embezzlement, misappropriation or conversion of assets of Tyson;
(c)    you are convicted of, confess to, plead no contest to, or become the subject of proceedings that provide a reasonable basis for Tyson to believe that you have been engaged in a felony; or
(d)    your intentional or willful violation of any other agreement to which you are a party with Tyson.
For purposes of this Award Agreement an act or failure to act shall be considered “willful” only if done or omitted to be done without your good faith reasonable belief that such act or failure to act was in the best interests of Tyson.  In no event shall Tyson’s failure to notify you of the occurrence of any event constituting Cause, or to terminate you as a result of such event, be construed as a consent to the occurrence of future events, whether or not similar to the initial occurrence, or a waiver of Tyson’s right to terminate you for Cause as a result thereof.

2

Exhibit 10.11

(ii)    “Release” shall mean that specific document which Tyson shall present to you for consideration and execution after your termination of employment, under which you agree to irrevocably and unconditionally release and forever discharge Tyson, its subsidiaries, affiliates and related parties from any and all causes of action which you at that time had or may have had against Tyson (excluding any claim under state workers’ compensation or unemployment laws).  The Release will be provided to you as soon as practical after your termination date, but in any event in sufficient time so that you will have adequate time to review the Release as provided by applicable law.
		
	3.
	Time of Exercise of Award.  Your Award will be exercisable upon the Vesting Dates set forth in Section 2.  In the event of your Termination of Employment, your vested options shall no longer remain exercisable, except as follows:

		
	3.1.
	Termination of Employment.  Except as provided in Section 3.2, in the event of your Termination of Employment, your vested Award will remain exercisable for a period of three months from the Termination of Employment, but not longer than 10 years from the Grant Date.

		
	3.2.
	Death, Disability or Retirement. In the event your Termination of Employment is due to death, Disability or Retirement, your vested Award will remain exercisable by you, or your Beneficiary in the case of your death, for a period of 12 months, but not longer than 10 years from the Grant Date.  

		
	4.
	Manner of Exercise of Award.  Your Award may be exercised through any of the following methods as provided under the Plan:

		
	4.1.
	Cash of not less than the product of the Exercise Price multiplied by the number of shares to be purchased on exercise, plus the amount of any required tax withholding;

		
	4.2.
	Delivery to Tyson of the number of shares owned at least six (6) months at the time of exercise having a fair market value of not less than the product of the Exercise Price multiplied by the number of shares to be purchased on exercise, plus the amount of any required tax withholding;

		
	4.3.
	Cashless exercise through a broker designated by Tyson, which shall account for, and include, any required tax withholding but not to exceed the required minimum statutory withholding; 

		
	4.4.
	Withholding of the number of shares having a fair market value of not less than the product of the Exercise Price multiplied by the number of shares to be purchased on exercise, plus the amount of any required tax withholding but not to exceed the required minimum statutory withholding; or

		
	4.5.
	Unless your Award is no longer exercisable under the terms of Section 3 above, by accepting the terms herein you consent to have the options automatically exercise, using any of the above methods at Tyson’s sole discretion, either at the end of the period defined in Section 3.1 or Section 3.2, as applicable, or on the 10th anniversary of the Grant Date (or, if the 10th anniversary of the Grant Date is not a business day, the business day immediately preceding the 10th anniversary of the Grant Date), if the price per share of Tyson stock at the time of exercise is greater than the Exercise Price.

		
	5.
	Withholding Taxes. By accepting this Award, you acknowledge and agree that you are responsible for all applicable income and other taxes from any Award, including federal, FICA, state and local taxes applicable in your country of residence or employment.  Tyson shall withhold taxes by any manner acceptable under the terms of the Plan, but not to exceed the required minimum statutory withholding.

		
	6.
	Beneficiary Designation.  In accordance with the terms of the Plan, you may name a Beneficiary who may exercise your Award under this Award Agreement in case of your death before you receive any or all of your Award.  Each Beneficiary designation shall revoke all prior designations, shall be in a form prescribed by the Committee, and shall be effective only when filed in writing with the Committee during your lifetime.

		
	7.
	Right of the Committee.  The Committee is authorized to administer, construe, and make all determinations necessary or appropriate to the administration of the Plan and this Award Agreement, all of which shall be binding.

		
	8.
	Severability. In the event that any one or more of the provisions or portion thereof contained in this Award Agreement shall for any reason be held to be invalid, illegal, or unenforceable in any respect, the same shall not invalidate or otherwise affect any other provisions of this Award Agreement, and this Award Agreement shall be construed as if the invalid, illegal or unenforceable provision or portion thereof had never been contained herein.

3

Exhibit 10.11

		
	9.
	Entire Agreement. Subject to the terms and conditions of the Plan, this Award Agreement expresses the entire understanding and agreement of Tyson and you with respect to the subject matter. In the event of any conflict between the provisions of the Plan and the terms of this Award Agreement, the provisions of the Plan will control unless this Award Agreement explicitly states that an exception to the Plan is being made. The Award has been made pursuant to the Plan and an administrative record is maintained by the Committee.

		
	10.
	Restrictions on Transfer of Award.  Any disposition of the Award or any portion thereof shall be a violation of the terms of this Award Agreement and shall be void and without effect; provided, however, that this provision shall not preclude a transfer as otherwise permitted by the Plan.

		
	11.
	Headings. Paragraph headings used herein are for convenience of reference only and shall not be considered in construing this Award Agreement.

		
	12.
	Specific Performance. In the event of any actual or threatened default in, or breach of, any of the terms, conditions and provisions of this Agreement, the party or parties who are thereby aggrieved shall have the right to specific performance and injunction in addition to any and all other rights and remedies at law or in equity, and all such rights and remedies shall be cumulative.

		
	13.
	No Vested Right in Future Awards.  You acknowledge and agree that the granting of the Award under this Award Agreement is made on a fully discretionary basis by Tyson and that this Award Agreement does not lead to a vested right to further Awards in the future.  Further, the Award set forth in this Award Agreement constitutes a non-recurrent benefit and the terms of this Award Agreement are applicable only to the Award granted pursuant to this Award Agreement.

		
	14.
	No Right to Continued Employment.  You acknowledge and agree (through electronic acknowledgment and acceptance of this Award Agreement) that neither the adoption of the Plan nor the granting of any Award shall confer any right to continued employment with Tyson, nor shall it interfere in any way with Tyson’s right to terminate your employment at any time for any reason. 

		
	15.
	Governing Law.  The Plan, this Award Agreement and all determinations made and actions taken pursuant to the Plan or Award Agreement shall be governed by the laws of the State of Arkansas, without giving effect to the conflict of laws principles thereof.

		
	16.
	Successors and Assigns.  This Award Agreement shall inure to the benefit of and be binding upon each successor and assign of Tyson.  All obligations imposed upon you, and all rights granted to Tyson hereunder, shall be binding upon your heirs, successors and administrators.

*  *  * 

	
		
	TYSON FOODS, INC. 
 
 
By:  /s/Donnie Smith
	 

	

Title:  President and CEO
	 

	 
	 

4Exhibit

EXHIBIT 10.1
Total Shareholder Return (TSR) PERFORMANCE UNIT GRANT #__ 

WGL Holdings, Inc.
Omnibus Incentive Compensation Plan
TSR Performance Units (Series #__) Award
Terms and Conditions

This document sets forth the terms and conditions related to the Series #__ grant of performance unit awards under the WGL Holdings, Inc. Omnibus Incentive Compensation Plan. The following terms have the meanings ascribed below:

“Award Agreement” means the agreement between an award recipient and WGL Holdings, Inc. relating to the grant of Performance Units subject to the terms of the WGL Holdings, Inc. Omnibus Incentive Compensation Plan and this document. 

“Cause” shall have the meaning given to such term in the WGL Change in Control Severance Plan for Certain Executives for any person who is a participant in such plan.  For any other person, cause shall mean gross misconduct and/or poor job performance, where gross misconduct includes any inappropriate and/or illegal behavior, including but not limited to a violation of a Company policy or rule such as the employee conflict of interest policy or the Company or DOT Drug and Alcohol Policies, insubordination, dishonesty, destruction, theft or misuse of Company property, excessive unexplained or unexcused abstenteeism or violation of Company security, and poor job performance is a failure to perform one’s job in a satisfactory and appropriate manner, where such failure is caused by willful misconduct.

“Change in Control” shall have the meaning given to such term in the Plan.  

“Change in Control Policy” means the WGL Holdings, Inc. and Washington Gas Light Company Change in Control Policy.  

 “Company” means WGL Holdings, Inc., a Virginia corporation.

“Employer” means the Company and all entities treated as a single employer under Internal Revenue Code section 414(b), (c), (m), or (o).  

“Participant” means a person that has been awarded Performance Units subject to the terms and conditions set forth in this document and the WGL Holdings, Inc. Omnibus Incentive Compensation Plan.

“Pension Plan” means the Washington Gas Light Company Employees’ Pension Plan.

“Performance Period” means October 1, 2015 through September 30, 2018.

“Performance Units” means the performance units awarded pursuant to an Award Agreement.

“Plan” means the WGL Holdings, Inc. Omnibus Incentive Compensation Plan. 

“Retirement” means a Participant’s separation from service with an Employer, other than an involuntary separation from service with Cause, that occurs:  (A) on or after the date on which the Participant attains age 65; or (B) on or after the date on which the Participant attains age 55 and 10 years of continuous service with an Employer; or (C) on or after the date on which the Participant reaches 30 years of “accredited service” under the Pension Plan; or (D) on or after the date on which the combination of the Participant’s age and “accredited service” under the Pension Plan reach 90.  

The Plan provides a complete description of the terms and conditions governing the Performance Units. If there is any inconsistency between the terms of this document and the terms of the Plan, the Plan’s terms shall completely supersede and replace the conflicting terms of this document. All capitalized terms have the meanings ascribed to them in the Plan, unless otherwise indicated herein.

1.Value of Performance Units. Each Performance Unit represents and has a value equal to one dollar.

2.Performance Units Payout and Performance Measures.  The number of Performance Units earned is based upon the Company’s Total Shareholder Return (as defined below) as compared to the Total Shareholder Return of the Company’s peer group (the peer group is identified on Schedule 1 attached hereto) during the Performance Period.  The determination of Total Shareholder Return of the Company and of each issuer in the peer group (each, an “Issuer”) is described below. 

Total Shareholder     =    Change in Stock Price + Dividends Paid
Return                Beginning Stock Price 

“Beginning Stock Price” means the average of the closing prices as reported on the New York Stock Exchange (the “NYSE”) of one share of common stock of the Issuer for the thirty (30) trading days ending immediately prior to the first calendar day of the Performance Period. “Ending Stock Price” means the closing price of one share of common stock of the Issuer as determined at a specified date during the Performance Period. “Change in Stock Price” means the difference between the Beginning Stock Price and the Ending Stock Price. “Dividends Paid” means the total of all dividends paid on one share of common stock of the Issuer during the Performance Period, provided that dividends shall be treated as though they are reinvested in additional shares of common stock of the Issuer at the end of each calendar quarter and the calculation of Dividends Paid in subsequent quarters shall include dividends paid on such additional shares. Each Issuer’s Total Shareholder Return will be calculated based on the Ending Stock Price on the last trading day of each of the four fiscal quarters of the third fiscal year of the Performance Period and a hypothetical payout will be calculated for each quarter. The results of 

the four hypothetical quarterly payouts will be averaged to determine the final payout for the Performance Period. 

The Company’s “Percentile Rank” shall be determined as follows: 

Percentile    =           Company Rank (from the bottom)       
    Rank        Total Number of Companies in Peer Group
Including the Company

“Company Rank” shall be determined by listing from highest Total Shareholder Return to lowest Total Shareholder Return each company in the peer group (including the Company) and counting up from the company with the lowest Total Shareholder Return up to and including the Company. The percent of Performance Units earned pursuant to this Section 2 is determined based on the following chart:

	
		
	Company’s Percentile Rank
	Percent of Target Performance Units Earned

	90th
	200%

	70th
	150%

	50th
	100%

	25th
	50%

	Below 25th
	0%

Interpolation shall be used to determine the percent of target award earned in the event the Percentile Rank does not fall directly on one of the ranks listed in the foregoing chart.  

Notwithstanding anything in the foregoing to the contrary, in the event of a Change in Control, the number of Performance Units earned pursuant to this Section 2 shall be determined in accordance with the Change in Control Policy.  

3.Eligibility for Payment of Earned Performance Units. 

(a)Continuous Employment Through End of Performance Period.  Except as provided below, and subject to the provisions of Section 3(b), relating to Retirement during the Performance Period, and Section 3(c), relating to a Change in Control during the Performance Period, a Participant shall be eligible for payment of earned Performance Units, as specified in Section 2, only if the Participant is employed on the date of grant of the award with respect to such Performance Units and is continuously employed with the Employer through the end of the Performance Period.  For the sake of clarity, transfers of employment between one or more Employers where service is continuous shall be considered continuous employment with the Employer for the purposes of the Award Agreement.  Notwithstanding the foregoing, (i) a Participant who is an employee of an Employer will not be eligible for the payment of earned Performance Units if at any time during the Performance Period the Participant has been demoted from the position he or she held at the date of grant to a position that is below the management level of “director”, and (ii) a Participant shall not be eligible for payment of earned 

Performance Units if he or she is suspended from employment with the Employer as of the date of the end of the Performance Period.  

(b)Retirement During Performance Period.  Notwithstanding anything contained in Section 3(a), and subject to the provisions of Section 3(c), relating to a Change in Control, if a Participant separates from service prior to the end of the Performance Period as a result of Retirement, such Participant shall be eligible for payment of that proportion of the number of Performance Units earned under Section 2 for such Performance Period that his or her number of full months of employment or service during the Performance Period bears to the total number of months in the Performance Period.  Further, subject to the provisions of Section 4, if a Participant separates from service with the Employer prior to the end of the Performance Period for any other reason, including voluntary or involuntary termination, death, or disability, the Human Resources Committee of the Board of Directors of the Company (the “Committee”), in its sole discretion, may determine that the Participant (or, in the case of the death of the Participant, the designated beneficiary or the estate) shall be eligible for that proportion of the number of Performance Units described in the immediately preceding sentence.

(c)Change in Control During Performance Period.  Notwithstanding the above, in the event of a Change in Control, if awards are assumed, continued, or substituted by the continuing legal entity, (i) a Participant who remains continuously employed throughout the Performance Period, (ii) a Participant who experiences a “qualifying termination” as defined in the Change in Control Policy within 24 months after a Change in Control, and (iii) a Participant who Retires on or after the date of the Change in Control, are eligible for payment of earned Performance Units, as specified in Section 2.  In the event of a Change in Control, if awards are not assumed, continued, or substituted, (i) a Participant who remains continuously employed through the Change in Control, and (ii) a Participant who Retires on the date of the Change in Control, are eligible for payment of earned Performance Units, as specified in Section 2.  A Participant who Retires prior to the Change in Control shall be eligible to receive a proportional number of Performance Units, calculated in accordance with Section 3(b).  

4.Form and Timing of Delivery of Performance Units.  Delivery of earned Performance Units to the Participant shall be made upon the earliest of the three payment dates set forth below.

(a)    Specified Date.  The fourth quarter of the 2018 calendar year. 

(b)    Separation from Service.  Upon the Participant’s separation from service (as defined in Internal Revenue Code section 409A) due to the Participant’s qualifying termination as defined in the Change in Control Policy within 24 months after a Change in Control (a “Qualifying Termination”).    

(c)    Change in Control.  Upon a Change in Control that satisfies the definition of such term in Internal Revenue Code section 409A (“409A-Compliant Change in Control”), but only if the award is not assumed, continued, or substituted by the surviving legal entity with respect to such Change in Control.  

In the event payment is made pursuant to the Participant’s Qualifying Termination or 409A-Compliant Change in Control, such payment shall be made within ninety (90) days following such Qualifying Termination or 409A-Compliant Change in Control, as applicable.  Notwithstanding anything herein to the contrary, distributions may not be made to an individual who is a Key Employee (as defined below) as of his or her Qualifying Termination before the date which is six (6) months after the date of the Key Employee’s Qualifying Termination (the “Key Employee Delay Period”).  Any payments that would otherwise be made during this period of delay shall be accumulated and paid in the calendar month following the last day of the Key Employee Delay Period.  For purposes of this award, Key Employee means an employee who, as of December 31st of a calendar year, meets the requirements of Internal Revenue Code section 409A(a)(2)(B)(i) to be treated as a “specified employee” of the Company, i.e., a key employee (as defined in Internal Revenue Code section 416(i)(1)(A)(i), (ii) or (iii) applied in accordance with the regulations thereunder and disregarding Internal Revenue Code section 416(i)(5)).  If the Participant meets the criteria in the preceding sentence, he or she will be considered a Key Employee for purposes of the Plan and this Award for the 12-month period commencing on the next following April 1.

Delivery of earned Performance Units to the Participant shall be made in cash.
    
5.Tax Withholding. The Company may deduct or withhold, or require the Participant or the Participant’s beneficiary to remit to the Company or its affiliates, an amount sufficient to satisfy federal, state, and local taxes, domestic or foreign, required by law or regulation to be withheld with respect to any taxable event arising as a result of an award of Performance Units.

6.Limitations on Transferability. Except as otherwise provided by the Plan or by the Committee, the Participant’s rights to Performance Units may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution. The Participant’s rights under an Award Agreement shall be exercisable during the Participant’s lifetime only by the Participant or the Participant’s legal representative.

7.Beneficiary Designation. The Participant may, from time to time, name any beneficiary or beneficiaries (who may be named contingently or successively) to whom any benefit under an Award Agreement is to be distributed in case of his or her death before he or she receives any or all of such benefit. Each such designation shall revoke all prior designations by the Participant, shall be in a form prescribed by the Company, and will be effective only when filed by the Participant in writing with the Secretary of the Company during the Participant’s lifetime. In the absence of any such designation, benefits remaining unpaid at the Participant’s death shall be paid to the Participant’s estate.

8.No Right to Continued Employment or Service. Neither the Plan nor an Award Agreement shall be construed as giving the Participant or any employee or any person the right to be retained in the employ or service of the Company or any of its subsidiaries nor shall it 

interfere in any way with the right of the Company or any of its subsidiaries to terminate the Participant’s employment or service at any time. 

9.Successors and Assigns. All obligations of the Company and any of its subsidiaries under the Plan and an Award Agreement, with respect to an award of Performance Units, shall be binding on any successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation or otherwise of all of the business and/or assets of the Company.

10.Administration. Award Agreements and the rights of Participants are subject to all the terms and conditions of the Plan, as the Plan may be amended from time to time, as well as to such rules and regulations as the Committee may adopt for administration of the Plan. The Committee is authorized to administer, construe, and make all determinations necessary or appropriate to the administration of the Plan and any Award Agreement, all of which shall be binding upon the Participant. Any inconsistency between Award Agreements and the Plan shall be resolved in favor of the Plan.

11.Amendment and Termination of the Plan. The Plan may be amended or terminated by the Board of Directors of the Company without stockholder approval unless the Board seeks to increase the number of shares of common stock subject to the Plan or stockholder approval is required by law or regulation or under the rules of any stock exchange or automated quotation system on which the common stock is then listed or quoted. Stockholder approval will not be deemed to be required under laws or regulations that condition favorable tax treatment on such approval, although the Board may, in its discretion, seek stockholder approval in any circumstances in which it deems such approval advisable.

12.Severability. If any portion of the Award Agreement or the terms and conditions set forth in this document are declared invalid or unenforceable by a court or governmental authority of competent jurisdiction, such declaration shall not affect the validity or enforceability of any remaining portion, which such remaining portion(s) shall remain in full force and effect as if the Award Agreement and/or this document had been agreed to with the invalid or unenforceable portion(s) eliminated.

13.Miscellaneous. If the Performance Period ends on a non-trading day, the Performance Period will be deemed to end on the immediately preceding trading day. If the day for any other action to be taken falls on a non-business day for the Company, the period for taking such action will extend through the Company’s next business day.

[Schedule 1 is provided on the following page]

Schedule 1
Peer Group*

Consolidated Edison Inc.
Eversource Energy
WEC Energy Group
Centerpoint Energy Inc.
Atmos Energy Corp.
NiSource Inc.
Vectren Corp.
Piedmont Natural Gas Co.
WGL Holdings Inc.
Southwest Gas Corp.
New Jersey Resources
One Gas Inc.
Laclede Group Inc.
Black Hills Corp.
South Jersey Industries
MGE Energy Inc.
Northwestern Corp.
Northwest Natural Gas Co.
Chesapeake Utilities Corp.

		
	•
	Peer group subject to adjustment to recognize major corporate transactions or events, in the Committee’s sole discretion.

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