SEC Contract Filing

Filing Date: 2017-08-28

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exhibit10-1.htm
<DESCRIPTION>EXHIBIT 10.1
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 <TITLE>SunOpta Inc.: Exhibit 10.1 - Filed by newsfilecorp.com</TITLE>
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<P align=right><B>Exhibit 10.1 </B></P>
<P align=center><U>SEPARATION AGREEMENT AND FULL AND FINAL RELEASE</U> </P>
<P align=justify style="text-indent:5%">This Separation Agreement and Full and Final Release
(&#147;Agreement&#148;) is entered into between Edward Haft (&#147;Employee&#148;) and SunOpta Inc.
(&#147;Company&#148;). This Agreement has been individually-negotiated and is not provided
in connection with a termination program. </P>
<P align=center>RECITALS </P>
<P align=justify style="text-indent:5%">WHEREAS, Employee has been employed by the Company pursuant to
an Employment Agreement, dated as of July 29, 2015, as amended effective as of
August 18, 2106 (&#147;Employment Agreement&#148;); and </P>
<P align=justify style="text-indent:5%">WHEREAS, Employee received a stock option award by letter
agreement dated November 21, 2016 (&#147;Option&#148;); and </P>
<P align=justify style="text-indent:5%">WHEREAS, Employee&#146;s employment relationship with the Company is
ending effective August 14, 2017, under circumstances that make Employee
eligible for compensation as set forth in Section 8(b) of the Employment
Agreement, subject to conditions set forth in Section 8(f) of the Employment
Agreement; and </P>
<P align=justify style="text-indent:5%">WHEREAS, certain of Employee&#146;s obligations under the Employment
Agreement, including without limitation Employee&#146;s obligations pursuant to
Sections 4, 5, 6, 9, and 10 of the Employment Agreement, continue in effect
following termination of Employee&#146;s employment relationship with the Company
(&#147;Continuing Obligations&#148;); and </P>
<P align=justify style="text-indent:5%">WHEREAS, this Agreement is entered into for purposes of
documenting the implementation of Sections 8(b) and 8(f) of the Employment
Agreement and providing for the release of claims by Employee as specified
therein.</P>
<P align=justify style="text-indent:5%">NOW, THEREFORE, for adequate and mutual consideration, the
parties agree as follows </P>
<P align=center>AGREEMENT AND RELEASE </P>
<P align=justify style="text-indent:5%">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Termination of Employment
Relationship</U>. Employee and the Company will end their employment
relationship on August 14, 2017 (the &#147;Termination Date&#148;). In connection with
such termination:</P>
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 <TR>
 <TD width="5%" >&nbsp;</TD>
 <TD vAlign=top width="5%">A. </TD>
 <TD>
 <P align=justify>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 will no longer 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.</P></TD></TR>
 <TR>
 <TD width="5%" >&nbsp;</TD>
 <TD width="5%">&nbsp;</TD>
 <TD>&nbsp;</TD></TR>
 <TR>
 <TD width="5%" >&nbsp;</TD>
 <TD vAlign=top width="5%">B. </TD>
 <TD>
 <P align=justify>The Company will pay Employee a final paycheck including
 all salary earned through the Termination Date and any earned and unused
 vacation time. In addition, the Company will reimburse Employee for
 unreimbursed 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.</P></TD></TR></TABLE>
<P align=center>1</P>
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 <TD width="5%">&nbsp;</TD>
 <TD vAlign=top width="5%">C. </TD>
 <TD>
 <P align=justify>Employee acknowledges and agrees that as of the
 Termination Date he is vested in stock options as set forth below, that
 the vested options are exercisable following the Termination Date in
 accordance with the applicable plan, and that he has no other rights to
 equity or equity based compensation in connection with Employee&#146;s
 employment or termination of employment.</P></TD></TR></TABLE><BR>
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 <TR vAlign=top>
 <TD vAlign=top align=left><B>Grant Name /Plan</B> </TD>
 <TD vAlign=top align=left width="16%"><B>Award Type</B> </TD>
 <TD vAlign=top align=left width="16%"><B>Grant Date</B> </TD>
 <TD vAlign=top noWrap align=left width="16%"><B>Exercise</B>
 <BR><B>Price</B> </TD>
 <TD vAlign=top noWrap align=left width="16%"><B>Vested and</B>
 <BR><B>Exercisable</B> </TD></TR>
 <TR vAlign=top>
 <TD vAlign=top align=left>10/09/2015_2013 Plan__5.26_0 - NQ </TD>
 <TD vAlign=top align=left width="16%">Options (NQ) </TD>
 <TD vAlign=top align=left width="16%">09-Oct-2015 </TD>
 <TD vAlign=top align=right width="16%">$5.26 </TD>
 <TD vAlign=top align=right width="16%">989 </TD></TR>
 <TR vAlign=top>
 <TD vAlign=top align=left>10/09/2015_2013 Plan_ISO_5.26_0 </TD>
 <TD vAlign=top align=left width="16%">Options (ISO) </TD>
 <TD vAlign=top align=left width="16%">09-Oct-2015 </TD>
 <TD vAlign=top align=right width="16%">$5.26 </TD>
 <TD vAlign=top align=right width="16%">19,011 </TD></TR>
 <TR vAlign=top>
 <TD vAlig