SEC Contract Filing

Filing Date: 2019-09-05

Document Content:
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<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>exhibit10-2.htm
<DESCRIPTION>EXHIBIT 10.2
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 <title>SunOpta Inc.: Exhibit 10.2 - Filed by newsfilecorp.com</title>
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<P align=right><B>Exhibit 10.2</B></P>
<P align=center><B>RESTRICTED STOCK UNIT AWARD AGREEMENT</B></P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Restricted Stock Unit Award Agreement (the &#147;<B>Agreement</B>&#148;) is entered into
as of September 3, 2019 (the &#147;<B>Award Date</B>&#148;) by and between SunOpta Inc., a
Canadian corporation (the &#147;<B>Company</B>&#148;), and Scott Huckins (the
&#147;<B>Recipient</B>&#148;). </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN
CONSIDERATION of the mutual covenants and agreements set forth in this
Agreement, the parties agree to the following:</P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Award and Terms of Restricted Stock Units.</B> The Company awards to the
Recipient 173,319 restricted stock units (the &#147;<B>Award</B>&#148;), subject to the
restrictions, terms and conditions set forth in this Agreement and the
Employment Agreement. This Award is not, and shall not be deemed to be, granted
under or subject to the terms of the Company&#146;s Amended 2013 Stock Incentive Plan
or any other plan. This Award is granted pursuant to the terms of the Executive
Employment Agreement dated August 30, 2019 between the Company and the Recipient
(the &#147;<B>Employment Agreement</B>&#148;) and in the event of any inconsistency
between this Agreement and the Employment Agreement as to timing of vesting or
any other provision, the terms of the Employment Agreement shall control and
apply. </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Rights under Restricted Stock Units</I>. A restricted stock unit (an
&#147;<B>RSU</B>&#148;) represents the unfunded, unsecured right to require the Company to
deliver to the Recipient one common share of the Company (&#147;<B>Common
Shares</B>&#148;) for each RSU.</P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Vesting Dates. </I>The RSUs awarded under this Agreement shall initially be
100% unvested and subject to forfeiture. One-third of the RSUs shall vest on
each of the first three (3) anniversaries of the Award Date (each, a &#147;<B>Vesting
Date</B>&#148;) if the Recipient is an employee of the Company on that Vesting Date
and has been employed by the Company continuously from the Award Date to that
Vesting Date. </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Termination of Employment. </I>Except as provided in (i), (ii) and (iii)
below and the Employment Agreement, if Recipient&#146;s employment by the Company is
terminated at any time prior to the final Vesting Date, the Recipient shall not
be entitled to receive any shares underlying any RSUs that are not vested as of
the date of termination. </P>
<P style="MARGIN-LEFT: 5%"
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Total Disability</I>. If the Recipient&#146;s employment with the Company is
terminated at any time prior to the final Vesting Date because of Total
Disability (as defined in the Employment Agreement), all unvested RSUs shall
immediately vest upon the determination of Total Disability and be settled in
accordance with the terms of this Agreement.</P>
<P style="MARGIN-LEFT: 5%"
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Death. </I>If the Recipient&#146;s employment with the Company is terminated at
any time prior to the final Vesting Date because of death, all unvested RSUs
shall immediately vest as of the date of death and be settled in accordance with
the terms of this Agreement.</P>
<P style="MARGIN-LEFT: 5%"
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Termination without Cause. </I>If the Recipient&#146;s employment by the Company
is terminated by the Company without Cause at any time prior to the final
Vesting Date, the RSUs shall be treated in accordance with Section 5.3 of the
Employment Agreement. If a Release is not executed by the Recipient in accordance with the Employment
Agreement or any other applicable provision of the Employment Agreement is not
complied with by the Recipient prior to the effective date of the Release, the
Recipient shall not be entitled to receive any shares underlying any RSUs that
are not vested as of the date of employment termination. For the purposes of
this Agreement, &#147;Cause,&#148; and &#147;Release&#148; shall have the meanings set forth in
Employment Agreement.</P>
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<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Restrictions on Transfer</I>. The Recipient may not sell, transfer, assign,
pledge or otherwise encumber or dispose of the RSUs subject to this Agreement.
The Recipient ma