SEC Contract Filing

Filing Date: 2015-06-08

Document Content:
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<TYPE>EX-10.(D)
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<FILENAME>c81598_ex10d.htm
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: (select)">Exhibit
10(</FONT>d)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: (select)">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REX AMERICAN RESOURCES CORPORATION</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2015 INCENTIVE PLAN</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1. PURPOSE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">The purpose of the REX American Resources
Corporation 2015 Incentive Plan (hereinafter referred to as this &ldquo;<U>Plan</U>&rdquo;) is to (i) assist REX American Resources
Corporation (the &ldquo;<U>Company</U>&rdquo;) in attracting and retaining qualified officers, key employees, directors and consultants
for the successful conduct of its business, (ii) provide incentives and rewards for persons eligible for Awards which are directly
linked to the financial performance of the Company in order to motivate such persons to achieve long-range performance goals, and
(iii) allow persons receiving Awards to participate in the growth of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>2. DEFINITIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">2.1. &ldquo;<U>Agreement</U>&rdquo; has the
meaning set forth in Section 11.6 of this Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">2.2. &ldquo;<U>Award</U>&rdquo; has the meaning
set forth in Section 5.1 of this Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">2.3. &ldquo;<U>Award Agreement</U>&rdquo;
has the meaning set forth in Section 5.1 of this Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">2.4. &ldquo;<U>Board</U>&rdquo; means the
Board of Directors of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">2.5. &ldquo;<U>Cause</U>&rdquo; as a basis
for termination of employment, means &ldquo;cause&rdquo; (or any similar term) as defined in an applicable employment agreement
with the Company, or any Subsidiary, with respect to any Employee that is a party to an employment agreement and, with respect
to other Employees, means termination based on an act or omission of an Employee determined by a supervisor of the Employee or
other management personnel of the Company or the Subsidiary in question to be an appropriate basis for termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">2.6. &ldquo;<U>Change in Control</U>&rdquo;
means a change in control of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation
14A promulgated under the Exchange Act, provided that, without limitation, such a change in control shall include and be deemed
to occur upon any of the following events:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 36pt">(i) Any &ldquo;person&rdquo;
(as such term is used in Sections 13(d) and 14(d)(2) of the Exchange Act, but excluding any person described in and satisfying
the conditions of Rule 13d-l(b)(1) thereunder), other than the Company, its Subsidiaries or any employee benefit plan of the Company
or any of its Subsidiaries, becomes the &ldquo;beneficial owner&rdquo; (as defined in Rule 13d-3 under the Exchange Act), directly
or indirectly, of securities of the Company representing 25% or more of the combined voting power of the Company&rsquo;s then outstanding
securities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 36pt">(ii) The &ldquo;Incumbent
Directors&rdquo; cease to constitute at least a majority of the Board. For purposes hereof, &ldquo;<U>Incumbent Directors</U>&rdquo;
means the members of the Board at the effective date of this Plan and the persons elected or nominated for election as their successors
or pursuant to</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 36pt"></P>

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