SEC Contract Filing

Filing Date: 2018-05-04

Document Content:
<DOCUMENT>
<TYPE>EX-10.30
<SEQUENCE>3
<FILENAME>ingr-20180331ex10303a473.htm
<DESCRIPTION>EX-10.30
<TEXT>
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 <font style="display:inline;">CONFIDENTIAL &#x2013; EXECUTION COPY</font>

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 <font style="display:inline;font-family:Arial,Helvetica,sans-serif;font-weight:bold;font-size:11pt;text-decoration:underline;">CONFIDENTIAL SEPARATION AGREEMENT AND GENERAL RELEASE</font>
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 <font style="display:inline;font-family:Arial,Helvetica,sans-serif;font-size:11pt;">Martin Sonntag, a German citizen employed by Ingredion Incorporated in Westchester, Illinois, U.S.A. (&#x201C;Executive&#x201D;) and Ingredion Incorporated (&#x201C;Ingredion&#x201D; or the &#x201C;Company&#x201D;) hereby enter into this Confidential Separation Agreement and General Release (&#x201C;Agreement&#x201D;) and agree as follows:</font>
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 <font style="display:inline;font-family:Arial,Helvetica,sans-serif;font-size:11pt;">1.<font style="display:inline;font-family:Arial,Helvetica,sans-serif;font-size:11pt;;font-size: 11pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 29.4pt 0pt 0pt;"></font>Executive hereby voluntarily resigns from his position as Senior Vice President,&nbsp;Strategy and Global Business Development, and from any and all officer and other positions that he currently or subsequently holds with Ingredion or any of its affiliates, subsidiaries or benefit plans, in each case, effective as of the close of business on April 30, 2018 (such date referred to herein as the &#x201C;Separation Date,&#x201D; unless the Separation Date is accelerated pursuant to Section 2(e) below). The Company hereby accepts such resignations.&nbsp; Executive will execute any&nbsp;further documents necessary to effect the resignations from any and all positions that he holds with any affiliate or subsidiary of Ingredion. &nbsp; </font>
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 <font style="display:inline;font-family:Arial,Helvetica,sans-serif;font-size:11pt;">2.<font style="display:inline;font-family:Arial,Helvetica,sans-serif;font-size:11pt;;font-size: 11pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 29.4pt 0pt 0pt;"></font>Subject to the remainder of this Agreement, and provided that Executive signs and returns this Agreement to the Company within 21 days after his receipt of it, does not revoke this Agreement pursuant to Section 10 below, and complies with its terms:</font>
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 <p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:72pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
 <font style="display:inline;font-family:Arial,Helvetica,sans-serif;font-size:11pt;">a.<font style="display:inline;font-family:Arial,Helvetica,sans-serif;font-size:11pt;;font-size: 11pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font>From the date this Agreement becomes effective until the Separation Date (the &#x201C;Transition Period&#x201D;), Executive shall remain a Company employee and shall perform such duties consistent with Executive&#x2019;s status as an executive and historical duties with the Company, as Ingredion&#x2019;s Chief Executive Officer (&#x201C;CEO&#x201D;) or his designee may direct, provided that Employee&#x2019;s last day in the office shall be February 2, 2018.&nbsp;&nbsp;&nbsp; Executive shall reasonably cooperate with the Company in transitioning his duties and responsibilities to such person(s) as are designated by the Company.&nbsp;&nbsp;Executive agrees that he has not disclosed&nbsp;and will not disclose (internally or externally) that he will be separating from the Company prior to the Company&#x2019;s formal announcement of his departure. &nbsp;The Company agrees to consult with Executive in the wording of such internal and external (if any) announcement of Executive&#x2019;s departure.</font>
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 <font style="display:inline;font-family:Arial,Helvetica,sans-serif;font-size:11pt;">b.<font style="display:inline;font-family:Arial,Helvetica,sans-serif;font-size:11pt;;font-size: 11pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font>During the Transition Period, the Company will continue to pay Executive his current pro-rated base salary, less required and authorized withholdings and dedu