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SunOpta Inc.: Exhibit 10.2 - Filed by newsfilecorp.com

Exhibit 10.2 

SEPARATION AGREEMENT AND FULL AND FINAL RELEASE 

This Separation Agreement and
Full and Final Release ("Agreement") is entered into between John Ruelle
("Employee") and SunOpta Inc. ("Company"). This Agreement has been
individually-negotiated and is not provided in connection with a termination
program. 

1. Termination of Employment
Relationship. Employee and the Company will end their employment
relationship on March 15, 2019 (the "Termination Date"). The Company may relieve
Employee of all duties and place the Employee on administrative leave prior to
the Termination Date by providing written notice. Employee no longer will be
authorized to transact business or incur any expenses, obligations and
liabilities on behalf of the Company after the earlier of being placed on
administrative leave or the Termination Date. Employee will receive all
compensation and benefits, to the extent permissible under the terms of the
governing benefit plan documents, due through the Termination Date as a result
of services performed for the Company with the receipt of a final paycheck,
except as provided in Paragraph 2 this Agreement. In addition, the Company will
reimburse Employee for business expenses properly incurred by Employee in
accordance with Company policy through the Termination Date, provided such
claims for reimbursement are accompanied by appropriate documentation and are
submitted to the Company within 30 days following the Termination Date.

Employee has reported to the Company any and all work-related
injuries incurred during employment. Employee acknowledges and agrees that the
Company properly provided any leave of absence because of Employee’s or a family
member’s health condition and Employee has not been subjected to any improper
treatment, conduct or actions due to a request for or taking such leave. 

Upon the earlier of your actual last day of active employment
with the Company or the Termination Date, Employee hereby confirms his
resignation from all positions held by Employee as a director, officer or other
fiduciary of the Company, including any and all affiliates.

2. Consideration. In
consideration of Employee’s promises in this Agreement, and upon expiration of
the revocation period so long as Employee has not revoked, the Company will
provide Employee: 

	 	A. 	
      Severance pay in the total gross amount of $640,265, to
      be paid as salary continuation (the "Severance Benefit"). The Severance
      Benefit shall be allocated over an eighteen (18) month period beginning
      after the Termination Date and payable in the form of substantially equal
      monthly payments made over this eighteen (18) month period or paid on such
      other, more frequent schedule based on the Company’s payroll timing
      (subject to the payment timing and method set forth in this paragraph).
      The Severance Benefit is determined by application of the following
      formula: one and a half times the sum of: (i) your current base salary
      ($417,843); and (ii) the annual cost for your automobile allowance
      ($9,000). The initial payment shall be made commencing after the
      Termination Date and on Company’s first regular pay date following, and
      subject to, the occurrence of all of the following: (i) Employee’s termination of employment, (ii) his execution
      of this Agreement, and (iii) expiration of the revocation period described
      in Paragraph 11 without Employee having revoked this Agreement. The Severance Benefit
      shall be paid pursuant to a fixed schedule of the regular payroll
      practices of the Company. The first payment of the Severance Benefit shall
      include any amounts that would have been paid prior to such first payment
      date had the Severance Benefit commenced to be paid immediately following
      the Termination Date.

1 

	 	B. 	
      If Employee elects COBRA, the Company will pay a portion
      of the COBRA premiums for medical and dental coverage, equal to the
      portion the Company pays for active employees at the same coverage level,
      for up to eighteen (18) months. Employee is responsible for the Employee
      portion of such coverage and for any COBRA premiums following eighteen
      (18) months.

	 	 	 
	 	C. 	
      Outplacement Benefits. The Company will provide Employee
      with outplacement benefits for twelve (12) months through Challenger, Gray
      & Christmas.

The Company will apply standard tax and other applicable
withholdings to payments made to Employee. Employee agrees that the
consideration the Company will provide includes amounts in addition to anything
of value to which Employee already is entitled. The Company will also pay
Employee for any accrued but unused paid-time off regardless of whether Employee
signs this Agreement. The Company is under no obligation to provide
reinstatement, employment, re-employment, consulting or other similar status;
provided, however, if the Company rehires Employee within eighteen months of the
Termination Date, Employee’s right to future severance payments will
terminate.

The Company and Employee intend that all taxable payments and
benefits provided for under this Agreement be exempt from Section 409A of the
Internal Revenue Code of 1986, as amended (the "Code") by reason of the
"short-term deferral" and "separation pay" exemptions from Code Section 409A set
forth in Treasury Regulation Section 1.409A -1(b)(4) and (9), and the provisions
of this Agreement shall be interpreted in a manner consistent with such intent.
In addition, for purposes of Code Section 409A, Employee’s right to receive any
installment payments payable hereunder shall be treated as a right to receive a
series of separate payments and, accordingly, each such installment payment
shall at all times be considered a separate and distinct payment for the
purposes Code Section 409A. In the event that it is determined for any reason
that any payments hereunder are not exempt from Code Section 409A, the Company
and Employee agree to amend this Agreement in a manner that brings this
Agreement into compliance with Code Section 409A while preserving to the maximum
extent possible the economic value of the relevant payment or benefit under this
Agreement to Employee. Notwithstanding the foregoing, nothing herein shall be
interpreted as a guarantee of any particular tax result or treatment and
Employee is responsible for any and all federal, state and local income and wage
taxes that may be imposed on Employee with respect to any payments
hereunder.

3. Equity. Employee
acknowledges and agrees that: (a) any stock options granted to Employee prior to
May 24, 2017 that would have become vested during the eighteen months following
the Termination Date shall be immediately vested as of the Termination Date and
shall be exercisable or settled in accordance with the applicable terms of the
grant documents and the plan under which they were granted, except that any such
stock options will be exercisable through the end of the eighteen (18) month
period following the Termination Date (unless the original expiration date
occurs prior to the end of such eighteen (18) month period, in which case the
stock options will terminate and be forfeited, if not previously exercised, as of the stock options’ original
expiration date); and (b) any stock options, Performance Share Units (PSUs) or
Restricted Stock Units (RSUs) granted to Employee on or after May 24, 2017 that
have not vested as of the Termination Date shall be immediately forfeited and
cancelled. 

1 

Employee acknowledges and agrees that as of the Termination
Date he is vested in the stock options set forth below, that these vested stock
options are exercisable for eighteen months following the Termination Date
(unless the original expiration date occurs prior to the end of such eighteen
(18) month period) and that he has no other rights to equity or equity-based
compensation in connection with his termination of employment. 

	Grant Name/Plan 
	Award 
Type 	Grant Date 
	Grant 
Price 	Number 
Granted 	Vested and 
Exercisable 
	05/08/2012_2002Plan_ISO_5.73_0 
	Options 
(ISO) 	08-May-2012 
	$5.73 
	70,000 
	70,000 

	05/07/2013_2002Plan_ISO_7.36_0 
	Options 
(ISO) 	07-May-2013 
	$7.36 
	14,687 
	14,687 

	05/07/2013_2002Plan__7.36_0 - NQ 
	Options 
(NQ) 	07-May-2013 
	$7.36 
	45,313 
	21,313 

	05/13/2014_2013 Plan_ISO_11.30_0 
	Options 
(ISO) 	13-May-2014 
	$11.30 
	4,779 
	4,779 

	05/13/2014_2013 Plan__11.30_0 - NQ 
	Options 
(NQ) 	13-May-2014 
	$11.30 
	13,951 
	13,951 

	05/12/2015_2013 Plan_ISO_10.08_01 
	Options 
(ISO) 	12-May-2015 
	$10.08 
	9,774 
	9,774 

	05/12/2015_2013 Plan__10.08_01 - NQ 
	Options 
(NQ) 	12-May-2015 
	$10.08 
	14,661 
	14,661 

	05/24/2016_2013 Plan_ISO-SLT_3.27 
	Options 
(ISO) 	24-May-2016 
	$3.27 
	2,574 
	2,574 

	05/24/2016_2013 Plan_-SLT_3.27 - NQ 
	Options 
(NQ) 	24-May-2016 
	$3.27 
	41,234 
	26,632 

4. Full and Final Release. In
consideration of the benefits provided by the Company, Employee, for Employee
personally and Employee’s heirs, executors, administrators, successors and
assigns, fully, finally and forever releases and discharges the Company and its
affiliates, as well as their respective successors, assigns, officers, owners,
directors, agents, representatives, attorneys, and employees (all of whom are
referred to throughout this Agreement as the "Released Parties"), of and from all claims, demands, actions, causes of
action, suits, damages, losses, and expenses, of any and every nature
whatsoever, as a result of actions or omissions occurring through the date
Employee signs this Agreement. Specifically included in this waiver and release
are, among other things, any and all claims of alleged employment discrimination
and retaliation prohibited by Title VII of the Civil Rights Act of 1964, the
Americans with Disabilities Act, the Age Discrimination in Employment Act,
including the amendments provided by the Older Workers Benefits Protection Act,
or any other federal, state or local statute, rule, ordinance, or regulation, as
well as any claims under common law for tort, contract, or wrongful discharge.
In exchange for Employee’s waiver and release of claims against the Released
Parties, and non-revocation of any portion of that release, the Company
expressly waives and releases any and all claims against the Employee that may
be waived and released by law with the exception of claims arising out of or
attributable to: (i) events, acts, or omissions taking place after the parties’
execution of the Agreement; (ii) Employee's breach of any terms and conditions
of the Agreement; and (iii) Employee's criminal activities or intentional
misconduct occurring during the Employee's employment with Company.

2 

5. Exceptions to the
Release. The above release does not waive claims (i) for unemployment or
workers’ compensation benefits, (ii) for vested rights under ERISA-covered
employee benefit plans as applicable on the date Employee signs this Agreement,
(iii) for indemnification as a former Officer of the Company, (iv) that may
arise after Employee signs this Agreement, (v) rights and benefits described in
this Agreement, and (vi) which cannot be released by private agreement. Employee
understands that nothing in this Agreement (a) limits or affects Employee’s right to challenge the validity of this Release
under the ADEA or the Older Workers Benefit Protection Act or (b) prevents
Employee from filing a charge or complaint with or from participating in an
investigation or proceeding conducted by the EEOC, the National Labor Relations
Board, the Securities and Exchange Commission, or any other federal, state or
local agency charged with the enforcement of any laws, including providing
documents or other information, or (c) prevents Employee from exercising
Employee’s rights under Section 7 of the NLRA to engage in protected, concerted
activity with other employees, although by signing this Agreement, Employee is
waiving his right to recover any individual relief (including any backpay,
frontpay, reinstatement or other legal or equitable relief) in any charge,
complaint, or lawsuit or other proceeding brought by Employee or on his behalf
by any third party, except for any right Employee may have to receive a payment
from a government agency (and not the Company) for information provided to the
government agency.

6. Restrictive Covenants.
Employee understands and acknowledges that by virtue of his employment with
the Company, he had access to and knowledge of Confidential Information (defined
hereafter), was in a position of trust and confidence with the Company, and
benefitted from the Company’s goodwill. Employee further understands and
acknowledges that the restrictive covenants below are necessary to protect the
Company's legitimate business interests in its Confidential Information and
goodwill. Employee further understands and acknowledges that the Company's
ability to reserve these for the exclusive knowledge and use of the Company is
of great competitive importance and commercial value to the Company and that the
Company would be irreparably harmed if the Employee violates the restrictive
covenants below. 

(a) Confidentiality. Employee
understands and acknowledges that during the course of his employment, he has
had access to and learned about confidential, secret and proprietary documents, materials and other
information, in tangible and intangible form, of and relating to the Company,
its businesses and existing and prospective customers, suppliers, investors and
other associated third parties ("Confidential Information"). For purposes of
this Agreement, Confidential Information includes, but is not limited to, all
information not generally known to the public, whether oral or written, relating
directly or indirectly to financial statements, projections, evaluations, plans,
programs, customers, suppliers, facilities, equipment and other assets,
products, processes, manufacturing, marketing, research and development, trade
secrets, know-how, patent applications that have not been published, technology
and other confidential information and intellectual property of the Company.
Employee understands that the above list is not exhaustive, and that
Confidential Information also includes other information that is marked or
otherwise identified as confidential or proprietary, or that would otherwise
appear to a reasonable person to be confidential or proprietary in the context
and circumstances in which the information is known or used. Employee agrees, as
a condition of this Agreement, that Employee will not use or disclose any
Confidential Information which Employee learned or that came into Employee
possession during the course of employment with the Company. Among other things,
and without limitation, Employee will not use or disclose, without the consent
of the Company, any trade secrets, confidential or proprietary information of or
concerning the Company, its owners, affiliates, customers or suppliers.

3 

(b) Non-Solicitation of
Employees. Employee understands and acknowledges that the Company has
expended and continues to expend significant time and expense in recruiting and
training its employees. Employee agrees, as a condition of this Agreement, not
to directly or indirectly solicit, hire, recruit, attempt to hire or recruit, or
induce the termination of employment of any employee of the Company for a period
of eighteen (18) months from the Termination Date. 

(c) Non-Solicitation of Customers.
Employee understands and acknowledges that the Company has expended and
continues to expend significant time and expense in developing customer
relationships, customer information and goodwill, and that because of the
Employee's experience with and relationship to the Company, he has had access to
and learned about much or all of the Company’s customer information. Customer
information includes, but is not limited to, names, phone numbers, addresses,
e-mail addresses, order history, order preferences, chain of command, product
information, pricing information and other information identifying facts and
circumstances specific to the customer. Employee agrees, as a condition of this
Agreement, not to directly or indirectly solicit, contact, attempt to contact or
meet with the Company's current, former or prospective customers for purposes of
offering or accepting goods or services competitive with those offered by the
Company, as of the date of this Agreement, for a period of eighteen (18) months
from the Termination Date. 

(d) Reasonableness of Restrictions.
If any covenant or provision of this Agreement is determined to be void or
unenforceable in whole or in part, it shall not be deemed to affect or impair
the validity of any other covenant or provision and Paragraphs 6(a), 6(b) or
6(c), are each declared to be separate and distinct covenants. If any court of
law finds that any provision of this Paragraph 6 is invalid or unenforceable,
then such provision shall be enforced to the extent deemed reasonable and
enforceable by the court. Employee hereby agrees all restrictions contained in
this section are reasonable and valid and all defenses to the strict enforcement
thereof by the Company are hereby waived. Employee further acknowledges that a
violation of any of the provisions of this section will result in immediate and
irreparable damage to the Company and agrees that in the event of such
violation, the Company, in addition to any other right of relief, shall be
entitled to seek equitable relief by way of a temporary or permanent injunction
and to such other relief that any court of competent jurisdiction may deem just
and proper. If Employee is in breach of any such restrictions, the running of
the period of such restrictions shall be stayed and shall recommence upon the
date Employee ceases to be in breach thereof, whether voluntarily or by
injunction. 

4 

(e) Survivability. The terms of
this Paragraph 6 shall survive the expiration or termination of this Agreement
for any reason. 

7. Agreement
Confidentiality. The nature and terms of this Agreement are strictly
confidential and they have not been and shall not be disclosed by Employee at
any time to any person other than Employee’s lawyer or accountant, a
governmental agency, or Employee’s immediate family without the prior written
consent of an officer of the Company, except as necessary in any legal
proceedings directly related to the provisions and terms of this Agreement, to
prepare and file income tax forms, or as required by court order after
reasonable notice to the Company.

8. Cooperation. Employee
agrees to cooperate with the Released Parties regarding any pending or
subsequently filed litigation, claims or other disputes involving the Released
Parties that relate to matters within the knowledge or responsibility of
Employee. Without limiting the foregoing, Employee agrees (i) to meet with a
Released Party’s representatives, its counsel or other designees at mutually
convenient times and places with respect to any items within the scope of this
provision; (ii) to provide truthful testimony regarding same to any court,
agency, or other adjudicatory body; and (iii) to provide the Company with notice
of contact by any adverse party or such adverse party’s representative, except
as may be required by law. The Company will reimburse Employee for reasonable
expenses in connection with the cooperation described in this paragraph. 

9. Non-Admission. This
Agreement shall not be construed as an admission by the Company of any liability
or acts of wrongdoing or unlawful discrimination, nor shall it be considered to
be evidence of such liability, wrongdoing, or unlawful discrimination. 

10. Non-Disparagement.
Except as otherwise provided in Paragraph 5 above, Employee agrees not to make
statements to clients, customers and suppliers of the Company (or any of its
affiliates) or to other members of the public that are in any way disparaging or
negative towards the Company, any of its affiliates, or the products, services,
representatives or employees of any of the foregoing. The Company agrees that it
will instruct David Colo, CEO, Robert McKeracher, CFO, Jill Barnett, General
Counsel, Gerard Versteegh, SVP and Jeff Gough, CHRO, not to make statements to
any person or entity external or internal to Company that are in any way
disparaging or negative toward Employee. Nothing in this paragraph prohibits
Employee from complying with a court order or lawful subpoena. 

5 

11. Advice of Counsel,
Consideration and Revocation Periods, Other Information. The Company advises
Employee to consult with an attorney prior to signing this Agreement. Employee
has twenty-one (21) days starting on the Termination Date to consider whether to
sign this Agreement (the "Consideration Period"). Employee must return this
signed Agreement to the Company’s representative set forth below within the
Consideration Period but not prior to the Termination Date. If Employee signs
and returns this Agreement before the end of the Consideration Period, it is
because Employee freely chose to do so after carefully considering its terms.
Additionally, Employee shall have fifteen days (15) from the date of the signing
of this Agreement to revoke this Agreement by delivering a written notice of
revocation within the fifteen-day revocation period to Jeff Gough, SunOpta, 7301
Ohms Lane, Suite 600, Edina, MN 55439. If the revocation period expires on a
weekend or holiday, Employee will have until the end of the next business day to
revoke. This Agreement will become effective on the sixteenth day after Employee
signs this Agreement provided Employee does not revoke this Agreement. Any
modification or alteration of any terms of this Agreement by Employee voids this
Agreement in its entirety. Employee agrees with the Company that changes,
whether material or immaterial, do not restart the running of the Consideration
Period. Employee knowingly and voluntarily agrees to all of the terms set forth
in this Agreement. 

12. Applicable Law and General
Provisions. This Agreement shall be interpreted under Minnesota law. This
Agreement sets forth the entire agreement between the parties. Employee is not
relying on any other agreements or oral representations not fully addressed in
this Agreement. Any prior agreements between or directly involving Employee and
the Company are superseded by this Agreement, except any prior agreements
related to inventions, business ideas, confidentiality of corporate information,
and non-competition remain intact. To the extent of any conflict between the
terms of this Agreement and the Company’s severance plan, the provisions of this
Agreement shall prevail. The provisions of this Agreement are severable, and if
any part of this Agreement, except Paragraph 4, is found by a court of law to be
unenforceable, the remainder of this Agreement will continue to be valid and
effective. The headings in this Agreement are provided for reference only and
shall not affect the substance of this Agreement.

In exchange for the promises
contained in this Agreement, the Company promises to provide the benefits set
forth in this Agreement. 

	
Date: March 15, 2019 

	Jeff Gough 
SunOpta 
7301 Ohms Lane, Ste
      600 
Edina, MN 55439 	
/s/ Jeff Gough 
Signature
  

Employee has read and understood
this Agreement, signs this Agreement knowing he is waiving valuable rights, and
acknowledges that this Agreement is final and binding.

	Date: March 15, 2019 
Not valid if signed
      
before Termination 
Date 	John Ruelle 

	/s/ John Ruelle 
Signature
  

6Exhibit 10.1

  

   

  

  AMENDMENT TO “APPENDIX A” OF THE

  ASTEC INDUSTRIES, INC.

  SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

  

  

  

  

  THIS AMENDMENT to “Appendix A” of the Astec Industries, Inc. Supplemental Executive Retirement Plan, as amended and restated as of January 1, 2008
      (the “Plan”), is adopted by Astec Industries, Inc. (the “Company”), effective as of April 25, 2019.

  

  

  WHEREAS, Article 2 of the Plan permits the
      Board of Directors of the Company (the “Board”) to designate participants in the Plan from time to time, whose names and effective dates of participation shall be set forth on Exhibit A to the Plan;

  

  

  NOW, THEREFORE, the Company hereby amends
      “Appendix A” of the Plan in the form attached hereto, to update the same for changes in Plan participation approved by the Board, by action taken on April 25, 2019.

  

  

  Except as amended herein, the Plan shall continue in full force and effect.

  

  

  ASTEC INDUSTRIES, INC.

  

  

  Date: April 25, 2019           By: /s/ Stephen C. Anderson

   Name: Stephen C. Anderson

   Title:   Secretary

  

  

  
    
      

  

  

  

  	
          “Appendix A”

        
	
          Each Participant’s Date of Participation

        
	 	 	 
	
          Name of Participant

        	 	
          Effective Dates of Participation

        
	
          W. Norman Smith

        	 	
          January 1, 1995

        
	
          Tim Gonigam

        	 	
          August 1, 2000

        
	
          Stephen C. Anderson

        	 	
          January 1, 2003

        
	
          Richard Dorris

        	 	
          January 3, 2005

        
	
          David C. Silvious

        	 	
          July 1, 2005

        
	
          Neil Peterson

        	 	
          January 1, 2008

        
	
          Joe Cline

        	 	
          February 1, 2008

        
	
          Chris Colwell

        	 	
          May 31, 2011

        
	
          Robin Leffew

        	 	
          August 1, 2011

        
	
          Matthew B. Haven

        	 	
          January 1, 2013

        
	
          Jeff May

        	 	
          October 1, 2013

        
	
          Tom Wilkey

        	 	
          January 1, 2014

        
	
          Jeff Schwarz

        	 	
          July 1, 2014

        
	
          John Irvine

        	 	
          April 28, 2016

        
	
          Jaco Van Der Merwe

        	 	
          October 1, 2016

        
	
          Scott Barker

        	 	
          April 3, 2017

        
	
          Neil Whitworth

        	 	
          May 30, 2017

        
	
          Michael G. Anderson

        	 	
          July 7, 2017

        
	
          Jody Volner

        	 	
          November 1, 2017

        
	
          Michael Norris

        	 	
          January 1, 2018

        
	
          Robert Kilgore

        	 	
          August 2, 2018

        
	
          Greg Renegar

        	 	
          January 1, 2019

        
	
          Vince Trotta

        	 	
          April 15, 2019

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