Document:

WFM Q3.2014.EX.10.1

Exhibit 10.1

WHOLE FOODS MARKET 2009 STOCK INCENTIVE PLAN 

NON-QUALIFIED STOCK OPTION AGREEMENT 
FOR U.S. WFLN AND DIRECTORS

[Grant Date]

The Board of Directors of Whole Foods Market, Inc. (the “Company”), acting pursuant to the direction of the Compensation Committee (the “Committee”), in its capacity as the plan administrator of the Whole Foods Market 2009 Stock Incentive Plan (the “Plan”), hereby grants to the Participant (the “Option Holder”) a non-qualified stock option to purchase common stock, no par value (“Common Stock”), of the Company upon the terms and conditions of the Plan and the following additional terms and conditions:

I.    NOTICE OF GRANT OF NON-QUALIFIED STOCK OPTION

	
		
	1.
	Name:

	2.
	Date of Grant:

	3.
	Total Number of Option Shares:

	4.
	Exercise Price per Share:

	5.
	The Option will become exercisable upon vesting in accordance with the following schedule:

	
	
	(i)    25% on the first anniversary of the Date of Grant;

	(ii)    a further 25% on the second anniversary of the Date of Grant;

	(iii)    a further 25% on the third anniversary of the Date of Grant;

	(iv)    the remaining 25% on the fourth anniversary of the Date of Grant.

Notwithstanding the foregoing vesting schedule, in the event the Option Holder’s employment or service with the Company is terminated for any reason other than for death, disability or Cause, and the Company and the Option Holder enter into a separation agreement the terms of which provide for immediate vesting of this Option, then this Option shall become 100% vested and immediately exercisable on the date specified in such separation agreement.

II.    AGREEMENT

		
	1.
	Grant of Options.  The Option Holder is hereby granted a non-qualified stock option (an “Option”) to purchase from the Company shares of Common Stock at the “Option Exercise Price” (being at least equal to the fair market value of the Common Stock on the date of grant), in the amounts, during the periods and upon the terms and conditions set forth in this Agreement.

		
	2.
	Time of Exercise.  The vested portion of the Option is exercisable in whole or in part (but not as to any fractional shares) at any time prior to the termination of the Option.  The Option shall vest with respect to 25% of the shares on each anniversary of the grant date that the Option Holder remains in the full-time employment or service with the Company and its subsidiaries. 

		
	3.
	Exercise of Option.  The exercise of the Option shall entitle the Option Holder to purchase shares of Common Stock of the Company in the manner set forth in Section 7.

		
	4.
	Term.  The Option will terminate, and will no longer be exercisable, at the first of the following:

a)    5 p.m. Central Standard Time on [Expiration Date] (the “Expiration Date”).
b)    5 p.m. Central Standard Time on (i) the date 90 days following the date the Option Holder’s employment or service with the Company and its subsidiaries terminates (“Termination Date”) or (ii), in the event the Option Holder’s employment or service with the Company is terminated for any reason other than for death, disability or Cause and the Company and the Option Holder enter into a separation agreement the terms of which provide for an extension of the Term following the Termination Date, the fifth anniversary of the effective date of the executed separation agreement.
c)    5 p.m. Central Standard Time on the first anniversary of the Termination Date following the Option Holder’s termination of employment or service due to disability or death (or death within the ninety (90) day period following the Termination Date where the termination is due to the Option Holder’s termination without Cause).
d)    5 p.m. Central Standard Time on the date on which Option Holder’s employment or service with the Company and its subsidiaries is terminated for “Cause” (as defined in the Plan).

An Option that has terminated will not be reinstated if the Option Holder is subsequently rehired by the Company.

		
	5.
	Rights in Event of Death or Disability.  During the lifetime of the Option Holder, the Option may be exercised only by the Option Holder.  If the Option Holder dies or becomes disabled during the Option Holder’s employment or service with the Company, (or dies within the ninety (90) day period following the Option Holder’s termination of employment or service 

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without Cause) and prior to the Expiration Date, the Option may be exercised, to the extent vested on the date of the Option Holder’s death or disability, at any time prior to the time and date specified in Section 4(c) hereof by (i) the Option Holder’s estate or a person who acquired the right to exercise the Option by bequest or inheritance or by reason of the death of the Option Holder in the event the Option Holder’s death, or (ii) the Option Holder or his personal representative or attorney-in-fact in the event of the Option Holder’s disability, subject to the other terms of this Agreement, the Plan and applicable laws, rules and regulations.  

		
	6.
	Restrictions on Exercise.  This Option:

		
	a)
	may be exercised only with respect to a whole number of shares. No fractional shares will be issued upon exercise of the Option. If the Option vests with respect to a fractional share, such installment will be rounded to the next highest whole number of shares, except for the final installment, which will be for the balance of the shares subject to the Option.  The Company will pay cash to the Option Holder in an amount equal to the Fair Market Value (as defined in Section 7 of this agreement) of any fractional share in lieu of issuing a fractional share, and the Option Holder will not have any rights with respect to the fractional share;

		
	b)
	may be exercised, in full or in part, only with respect to the vested portion of the Option; and

		
	c)
	may not be exercised, in whole or in part, if any requisite approval or consent of any government authority of any kind or having jurisdiction over the exercise of options shall not have been obtained.  

		
	7.
	Manner of Exercise.  Subject to such administrative regulations as the Committee may from time to time adopt, the Option Holder (or, in the event of Option Holder’s death or disability, the Option Holder’s attorney-in-fact, estate or heirs, as the case may be) shall, in order to exercise the Option, deliver to the Company an executed exercise agreement, on a form provided by the Committee.  If someone other than the Option Holder exercises the Option, then such person must also submit documentation reasonably acceptable to the Committee verifying that such person has the legal right to exercise the Option.  The exercise agreement must state the number of shares that the Option Holder will purchase and must be accompanied by full payment of the Option Exercise Price and applicable tax withholding.  In the discretion of the Committee, payment of the Option Exercise Price and applicable tax withholding shall be made in the form of a “net exercise” (pursuant to which the Company, or its authorized delegate, withholds from the shares that would otherwise be issued upon exercise of the Option that number of shares with a Fair Market Value equal to the Option Exercise Price and necessary to satisfy applicable tax withholding), cash, a “sell-to-cover” or “cashless exercise” transaction through a broker-dealer (subject to the conditions set forth in the Plan), wire transfer, certified check, or bank draft, or any other method that is not inconsistent with the Plan, and additionally, the Committee may permit payment of the Option Exercise Price (but not the applicable tax withholding) to be made through the delivery of unrestricted shares having a Fair Market Value equal to the Option Exercise Price 

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and owned by the Option Holder for a period of at least 6 months (or such shorter or longer period of time as is necessary for the Company to avoid a charge to earnings on its financial statements).  For purposes of this Section 7, the “Fair Market Value” of the shares of the Company’s Common Stock shall be the sales price for such shares on the NASDAQ National Market at the time of sale on the date of exercise.  Except to the extent otherwise authorized by the Committee, a stock certificate representing the shares purchased upon exercise of the Option will not be issued, and the Option Holder will not have the rights of a shareholder with respect to such shares until the Company receives full payment of the Option Exercise Price and applicable tax withholding.

		
	8.
	Non-Assignability.  The Option is not assignable or transferable by the Option Holder except by will or by the laws of descent or distribution.  Subject to the foregoing sentence, the Option shall inure to the benefit of and be binding upon the successors and assigns of the Option Holder.

		
	9.
	Right of Stockholder.  The Option Holder will have no rights as a stockholder with respect to any shares covered by the Options until the date on which the Option Holder becomes a holder of record for the shares.  Except as otherwise provided in Section 10 hereof, no adjustment shall be made for dividends or other rights for which the record date is prior to the date of full payment of the Option Exercise Price and applicable tax withholding.

		
	10.
	Capital Adjustments and Reorganizations.  The number of shares of Common Stock covered by the Option, and the Option Exercise Price thereof, shall be subject to such appropriate proportionate adjustment to reflect any stock dividend, stock split, share combination, separation, reorganization, liquidation or the like of or by the Company.

		
	11.
	No Obligation to Retain.  Nothing in the Plan or this Agreement confers on the Option Holder any right to continue in the employ of, or other relationship with, the Company or any subsidiary, or limits in any away the right of the Company or any subsidiary to terminate the Option Holder’s employment or relationship at any time, with or without Cause.

		
	12.
	Interpretation.  Any dispute regarding the interpretation of this Agreement and the Plan shall be resolved by the Committee, which decision shall be final and binding on the parties and their successors.

		
	13.
	Notice.  Any notice required to be given or delivered to the Committee or the Company under the terms of this Agreement shall be in writing (including a writing delivered by facsimile) and addressed to the “Compensation Committee” at the principal office of the Company.  Any notice required to be given or delivered to the Option Holder shall be in writing and addressed to the Option Holder at the address indicated above or to such other address as the Option Holder may designate in writing from time to time to the Committee.  All notices shall be deemed to have been given or delivered upon: (a) personal delivery; (b) five (5) days after deposit in the United States mail by certified or registered mail; (c) one (1) business day after deposit with any return receipt courier; or (d) when receipt is acknowledged by facsimile.

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	14.
	Successors and Assigns.  The Company may assign any of its rights under this Agreement.  This Agreement shall be binding upon and inure to the benefit of the successors and assigns of the Company.  Subject to applicable restrictions on transfer, described above, this Agreement shall be binding upon the successors of the Option Holder.

		
	15.
	Amendment.  This Agreement may not be amended except as provided in the Plan.

		
	16.
	Law Governing.  This Agreement is intended to be performed in the State of Texas and shall be construed and enforced in accordance with and governed by the laws of such state.  If any provision of this Agreement is determined by a court of law to be illegal or unenforceable, then such provision will be enforced to the maximum extent possible and the other provisions will remain fully effective and enforceable.

		
	17. 
	Defined Terms.   Capitalized terms which are used in this Agreement but not defined herein shall have the meaning assigned to them in the Plan.  

The Option Holder does hereby agree to the terms of this Agreement by signing in the space indicated below or by electronically accepting the terms hereof in the manner prescribed by the Committee, as applicable.

Dated as of [Grant Date].

_________________________________        __________________________________
Name:    [Participant Name]
Title:    
WHOLE FOODS MARKET, INC.

5Q214 Exhibit 10.3

FREEPORT-McMoRan INC.

NOTICE OF GRANT OF
RESTRICTED STOCK UNITS
UNDER THE
2006 STOCK INCENTIVE PLAN
[Form for Non-Management Directors]

Pursuant to the terms of the Freeport-McMoRan Copper & Gold Inc. Amended and Restated 2006 Stock Incentive Plan (the “Plan”), __________________________ (the “Participant”), being [a director] of Freeport-McMoRan Inc. (the “Company”), was granted effective June 1, 20__ (the “Grant Date”), restricted stock units as hereinafter set forth.  Defined terms not otherwise defined herein shall have the meanings set forth in Section 2 of the Plan.
1.Subject to all the terms and conditions of the Plan, the Participant, as a matter of separate inducement and agreement in connection with his or her services as [a director] of the Company, and not in lieu of any salary or other compensation for the Participant’s services, is granted, on the terms and conditions set forth in the Plan, ______ restricted stock units (“RSUs”).

2.Unless the vesting of the RSUs is accelerated pursuant to the terms of the Plan or this Notice, and subject to any other terms of the Plan, the RSUs shall vest in installments as follows:
	
		
	Date
	

Number of RSUs
To Vest

	June 1, 20__
	 

	June 1, 20__
	 

	June 1, 20__
	 

	June 1, 20__
	 

3.Additional Terms and Conditions of Restricted Stock Units.

3.1Subject to the terms, conditions, and restrictions set forth herein, each RSU represents the right to automatically receive from the Company, on the respective scheduled vesting date for such RSU, one share (a “Share”) of Common Stock, free of any restrictions and all cash, securities and property credited to or deposited in the Participant’s Dividend Equivalent Account (as defined in Section 3.3) with respect to such RSU.
3.2Except as provided in Section 3.3, an RSU shall not entitle the Participant to any incidents of ownership (including, without limitation, dividend and voting rights) (a) in any Share until the RSU shall vest and the Participant shall be issued a Share to which such RSU relates nor (b) in any cash, securities or property credited to or deposited in a Dividend Equivalent Account related to such RSU until such RSU vests.

3.3From and after the Grant Date of an RSU until the issuance of the Share payable in respect of such RSU, the Participant shall be credited, as of the payment date therefor, with (a) the amount of any cash dividends and (b) the amount equal to the Fair Market Value of any Shares, securities, or other property distributed or distributable in respect of one share of Common Stock to which the Participant would have been entitled had the Participant been a record holder of one share of Common Stock at all times from the Grant Date to such issuance date (a “Property Distribution”).  All such credits shall be made notionally to a dividend equivalent account (a “Dividend Equivalent Account”) established for the Participant with respect to all RSUs granted with the same vesting date.  All credits to a Dividend Equivalent Account for the Participant shall be notionally increased by the Account Rate (as hereinafter defined), compounded quarterly, from and after the applicable date of credit until paid in accordance with the terms of the Plan and this Notice.  The “Account Rate” shall be the prime commercial lending rate announced from time to time by JPMorgan Chase Bank or by another major national bank headquartered in New York, New York designated by the Committee.  The Committee may, in its discretion, deposit in the Participant’s Dividend Equivalent Account the securities or property comprising any Property Distribution in lieu of crediting such Dividend Equivalent Account with the Fair Market Value thereof.  For purposes of this Notice, “Fair Market Value” of a share of Common Stock or any other security shall be the closing per share or security sale price on the Composite Tape for New York Stock Exchange-Listed Stocks on the date in question or, if there are no reported sales on such date, on the last preceding date on which any reported sale occurred.  If on the date in question the shares of Common Stock or other securities in question are not listed on such Composite Tape, the fair market value shall be the closing sale price on the New York Stock Exchange on such date or, if no sales occurred on such date, on the last previous day on which a sale on the New York Stock Exchange is reported.

3.4(a)    Except as otherwise set forth in Section 3.4(b), all unvested RSUs, all amounts credited to the Participant’s Dividend Equivalent Account with respect to such RSUs, and all securities and property comprising Property Distributions deposited in such Dividend Equivalent Account with respect to such RSUs shall immediately be forfeited on the date the Participant ceases to be an Eligible Individual, unless the Participant continues providing services to the Company pursuant to a consulting or other arrangement as set forth in Section 3.4(c).

(b)If the Participant ceases to be an Eligible Individual by reason of the Participant’s death, retirement or disability (as defined in Section 3.4(d)), all unvested RSUs and all amounts credited to or property deposited in the Participant’s Dividend Equivalent Account with respect to such RSUs shall vest as of the date the Participant ceases to be an Eligible Individual.

(c)For purposes of this Section 3.4, if the Participant continues to provide services to the Company or a subsidiary of the Company pursuant to a consulting or other arrangement, the Participant will not “cease to be an Eligible Individual” until such time as the Participant has “separated from service” under Section 409A of the Internal Revenue Code and any related implementing regulations or guidance.

(d)For purposes of this Section 3.4, a “disability” shall have occurred if the Participant is (i) unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death 

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or can be expected to last for a continuous period of not less than 12 months, or (ii) by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than 3 months under an accident and health plan covering employees of the Participant’s employer. 

4.Change of Control.
4.1(a)    For purposes of this Notice, “Change of Control” means (capitalized terms not otherwise defined will have the meanings ascribed to them in paragraph (b) below):

(1)the acquisition by any Person together with all Affiliates of such Person, of Beneficial Ownership of the Threshold Percentage or more; provided, however, that for purposes of this Section 4.1(a)(1), the following will not constitute a Change of Control:

(A)any acquisition (other than a “Business Combination,” as defined below, that constitutes a Change of Control under Section 4.1(a)(3) hereof) of Common Stock directly from the Company,

(B)any acquisition of Common Stock by the Company or its subsidiaries,

(C)any acquisition of Common Stock by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation or other entity controlled by the Company, or

(D)any acquisition of Common Stock pursuant to a Business Combination that does not constitute a Change of Control under Section 4.1(a)(3) hereof; or

(2)individuals who as of the effective date of this Agreement, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the effective date of this Agreement whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board will be considered a member of the Incumbent Board, unless such individual’s initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or any other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Incumbent Board; or

(3)the consummation of a reorganization, merger or consolidation (including a merger or consolidation of the Company or any direct or indirect subsidiary of the Company), or sale or other disposition of all or substantially all of the assets of the Company (a “Business Combination”), in each case, unless, immediately following such Business Combination:

(A)the individuals and entities who were the Beneficial Owners of the Company Voting Stock immediately prior to such Business Combination have 

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direct or indirect Beneficial Ownership of more than 50% of the then outstanding shares of common stock, and more than 50% of the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, of the Company, and

(B)no Person together with all Affiliates of such Person (excluding the Company and any employee benefit plan or related trust of the Company or any subsidiary of the Company) Beneficially Owns 30% or more of the then outstanding shares of common stock of the Company or 30% or more of the combined voting power of the then outstanding voting securities of the Company, and

(C)at least a majority of the members of the board of directors of the Company were members of the Incumbent Board at the time of the execution of the initial agreement, and of the action of the Board, providing for such Business Combination; or

(4)approval by the shareholders of the Company of a complete liquidation or dissolution of the Company.

(b)As used in this Section 4, the following terms have the meanings indicated:
(1)Affiliate:  “Affiliate” means a Person that directly, or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with, another specified Person. 

(2)Beneficial Owner:  “Beneficial Owner” (and variants thereof), with respect to a security, means a Person who, directly or indirectly (through any contract, understanding, relationship or otherwise), has or shares (A) the power to vote, or direct the voting of, the security, and/or (B) the power to dispose of, or to direct the disposition of, the security.

(3)Company Voting Stock:  “Company Voting Stock” means any capital stock of the Company that is then entitled to vote for the election of directors.

(4)Majority Shares:  “Majority Shares” means the number of shares of Company Voting Stock that could elect a majority of the directors of the Company if all directors were to be elected at a single meeting.

(5)Person:  “Person” means a natural person or entity, and will also mean the group or syndicate created when two or more Persons act as a syndicate or other group (including without limitation a partnership, limited partnership, joint venture or other joint undertaking) for the purpose of acquiring, holding, or disposing of a security, except that “Person” will not include an underwriter temporarily holding a security pursuant to an offering of the security.

(6)Threshold Percentage:  “Threshold Percentage” means 30% of all then outstanding Common Stock.

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4.2Upon a Change of Control, and if the Change of Control also qualifies as a change in the ownership of the Company, a change in the effective control of the Company or a change in the ownership of a substantial portion of the assets of the Company under Section 409A of the Internal Revenue Code and any related implementing regulations or guidance, then all outstanding RSUs shall become fully vested.

4.3No later than 30 days after a Change of Control, the Committee, acting in its sole discretion without the consent or approval of any Participant (and notwithstanding any removal or attempted removal of some or all of the members thereof as directors or Committee members), may make such equitable adjustments to Awards then outstanding as the Committee deems appropriate to reflect such Change of Control (provided, however, that the Committee may determine in its sole discretion that no adjustment is necessary).

4.4In the event that the consideration offered to stockholders of the Company in any transaction described in this Section 4 consists of anything other than cash, the Committee shall determine the fair cash equivalent of the portion of the consideration offered that is other than cash.

5.The RSUs granted hereunder are not transferable by the Participant otherwise than by will or by the laws of descent and distribution.

6.All notices hereunder shall be in writing, and if to the Company, shall be delivered personally to the Secretary of the Company or mailed to its principal office, 333 North Central Avenue, Phoenix, Arizona 85004, addressed to the attention of the Secretary; and if to the Participant, shall be delivered personally or mailed to the Participant at the address on file with the Company.  Such addresses may be changed at any time by notice from one party to the other.

7.The terms of this Notice shall bind and inure to the benefit of the Participant, the Company and the successors and assigns of the Company and, to the extent provided in the Plan and in this Notice, the legal representatives of the Participant.

8.This Notice is subject to the provisions of the Plan.  The Plan may at any time be amended by the board of directors of the Company (the “Board”), and this Notice may at any time be amended by the Committee provided that no amendment to this Notice that materially impairs the benefits provided to the Participant hereunder may be made without the Participant’s consent.  Subject to any applicable provisions of the Company’s by-laws or of the Plan, any applicable determinations, orders, resolutions or other actions of the Committee shall be final, conclusive and binding on the Company and the holder of the RSUs granted hereunder.

FREEPORT-McMoRan INC.

By:_____________________    

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