SEC Contract Filing

Filing Date: 2015-02-17

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exhibit101tesoro2015psawar.htm
<DESCRIPTION>2015 PERFORMANCE SHARE AWARD GRANT LETTER
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 <title>Exhibit 10.1 Tesoro 2015 PS Award Grant Letter</title>
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<a name="s8B6E62C413B1CFEDF7F294BCA0180931"></a><div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">EXHIBIT 10.1</font></div></div><br><div style="line-height:120%;text-align:right;"><img src="image1a04a01.jpg" style="height:116px;width:121px;"></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Date</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Private and Confidential</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">First Name Last Name</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">FBA</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Address</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">City, State Zip</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Dear First Name Last Name:</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">I am very pleased to inform you that, effective </font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">February 10, 2015 </font><font style="font-family:inherit;font-size:11pt;">(the "</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Award Date</font><font style="font-family:inherit;font-size:11pt;">"), the Compensation Committee of the Board of Directors of Tesoro Corporation (the "</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Company</font><font style="font-family:inherit;font-size:11pt;">"), pursuant to its authority under the Amended and Restated Tesoro Corporation 2011 Long-Term Incentive Plan (the "</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Plan</font><font style="font-family:inherit;font-size:11pt;">"), has approved the following long-term incentive award (the "</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Award</font><font style="font-family:inherit;font-size:11pt;">") to you. The following is a summary of the terms and conditions associated with this Award. Capitalized terms not defined in this letter will have the definitions provided for such terms in the Plan.</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Award</font><font style="font-family:inherit;font-size:11pt;">: # Performance Shares of the Company&#8217;s common stock with a targeted value of $XXX,XXX is contingent upon the achievement of </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">relative Total Shareholder Return</font><font style="font-family:inherit;font-size:11pt;">&#32;against a Median Index of our Performance Peer Group, XLE Energy Index and S&amp;P 500 Index. This Award will become eligible for vesting, subject to actual performance and continued employment, at the end of the 36 month performance period (January 1, 2015 through December 31, 2017).</font></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Upon vesting at the end of the performance period, the Award will be adjusted based on the Company&#8217;s relative Total Shareholder Return against a Median Index of the Per