SEC Contract Filing

Filing Date: 2024-10-31

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exh101_2019incentiveplanxa.htm
<DESCRIPTION>EX-10.1
<TEXT>
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<title>Document</title></head><body><div id="i42120d5db48e48f7973829c12cfa11ed_1"></div><div style="min-height:72pt;width:100%"><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">EXHIBIT 10.1</font></div></div><div style="margin-top:0.35pt;text-align:right"><font><br></font></div><div style="padding-left:91.25pt;padding-right:91.25pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">MURPHY USA INC.</font></div><div style="padding-left:91.27pt;padding-right:91.27pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">2019 ANNUAL INCENTIVE PLAN</font></div><div style="padding-left:91.27pt;padding-right:91.27pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">(amended and restated, effective as of August 14, 2024)</font></div><div><font><br></font></div><div style="padding-left:5pt;text-indent:35.95pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Section 1.&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Purpose of the Plan</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">. The purpose of the 2019 Annual Incentive Compensation Plan (as amended and restated, effective as of August 14, 2024) for Murphy USA Inc. is to provide incentive compensation to those Key Employees who, in the opinion of the Company, contribute significantly to the growth and success of the Company&#59; to attract and retain individuals of outstanding ability&#59; and to align the interests of those who hold positions of major responsibility in the Company with the interests of Company shareholders.</font></div><div><font><br></font></div><div style="padding-left:5pt;text-indent:35.95pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Section 2.&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Definitions</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">. Unless the context otherwise indicates, the following definitions shall be applicable&#58;</font></div><div><font><br></font></div><div style="padding-left:5pt;text-indent:35.95pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Award</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221; shall mean a right granted to a Participant pursuant to Section 5 of the Plan to receive a cash payment from the Company (or a Subsidiary) based upon the extent to which the Participant&#8217;s Performance Goal(s) are achieved during the relevant Performance Period, subject to the Committee&#8217;s discretion pursuant to the Plan.</font></div><div><font><br></font></div><div style="padding-left:41pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Board</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221; shall mean the Board of Directors of Murphy USA Inc.</font></div><div><font><br></font></div><div style="padding-left:5pt;text-indent:35.95pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">&#8220;Cause&#8221; </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">shall mean a (i) Participant&#8217;s willful failure or refusal to satisfactorily perform Participant&#8217;s duties or obligations in connection with Participant&#8217;s employment, (ii) Participant&#8217;s having engaged in willful misconduct, gross negligence or a breach of fiduciary duty, or Participant&#8217;s material breach of Participant&#8217;s employment agreement, if any, or any Company policy, (iii) Participant&#8217;s conviction of, or a plea of nolo contendere to, (x) a felony or (y) any other criminal offense involving moral turpitude, fraud or dishonesty, (iv) Participant&#8217;s unlawful use or possession of illegal drugs on the Company&#8217;s premises or while performing his duties and responsibilities hereunder or (v) Participant&#8217;s commission of an act of fraud, embezzlement or misappropriation, in each case, against the Company or any of its affiliates.</font></div><div><font><br></font></div><div style="padding-left:5pt;text-indent:35.95pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Code</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height