Sample Business Contracts

Employment Agreement - Tyson Foods Inc. and Donald J. Tyson

Employment Forms

  • Employment Agreement. Employers can customize an employment agreement that states the salary, benefits, working hours and other important provisions for their new or existing employee.
  • Consulting Agreement. Answer simple questions to build a contract with a consultant. Specify the services rendered, when payment is due, as well as IP rights.
  • Commission Agreement. Employers who compensate their sales employees based on commissions can prepare an agreement to reduce misunderstandings by specifying the base salary and how commissions are calculated.
  • Executive Employment Agreement. Companies may offer their business executives a contract that is different from the one provided to their regular employees. Executive employment agreements may be more complex because the compensation structure may include a combination of salary and commissions, provide for bonuses based on sales, stock or other financial targets, and include non-compete, confidentiality and severance provisions.
  • Sales Representative Contract. Independent sales representatives offer companies the potential to increase the sale of products or services without the burden of increasing headcount. Both parties should understand how commissions are calculated, when commissions will be paid, as well as how the representative will treat confidential information from the company and whether the representative may also sell a competing line of products or services.
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       This   Second   Amended  And  Restated  Employment  Agreement   (the
"Agreement") is made as of August 1, 1997 by and between Tyson Foods, Inc.,
a  Delaware corporation (the "Company"), and Donald J. Tyson, an individual
and  Florida  resident ("Tyson").  This Agreement supersedes  and  replaces
that  certain Amended and Restated Employment Agreement between the parties
dated July 1, 1994.

                     W I T N E S S E T H :

      Whereas,  during  Tyson's  employment by  the  Company  he  has  been
primarily responsible for promoting the overall growth of the Company; and

      Whereas, the Company believes that the future services of Tyson  will
be  of great value to the Company, and by this Agreement proposes to ensure
his continued employment; and

      Whereas,  Tyson hereby expresses his willingness to continue  in  the
employment of the Company as is hereby provided;

      Now Therefore, in consideration of the premises, the mutual covenants
herein  contained, and other good and valuable consideration,  the  receipt
and  sufficiency of which is hereby acknowledged, the parties hereto  agree
as follows:

      1.   Period of Active Employment.  Tyson shall continue in the active
employment  of  the Company until December 31, 1998 (the  "Initial  Term"),
which employment shall be automatically extended for successive periods  of
one  year,  commencing January 1, 1999 and each January 1 thereafter  ("the
Anniversary  Date") following said Initial Term.  Said  employment  may  be
terminated  upon written notice by either party at least 10 days  prior  to
any Anniversary Date (the "Termination Date").

      2.   Duties.  During the period of this Agreement, and subject to the
limitations  hereinafter  expressed, Tyson  agrees  to  serve  the  Company
faithfully and to the best of his ability, under the direction of the Board
of  Directors  of the Company, devoting his time, energy and skill  to  the
Company's business.

      3.    Compensation.  The Company agrees to pay to  Tyson  during  the
period of his employment the sum of Six Hundred Thousand Dollars ($600,000)
per annum, payable in equal monthly installments, subject to adjustment  at
any  time  by  mutual agreement of the parties hereto.   Additional  annual
compensation may be paid Tyson from time to time by majority  vote  of  the
Compensation  Committee  of the Board of Directors  of  the  Company,  with
members of the Tyson family or any other interested director abstaining.


     4.   Disability.  If, while in the active employ of the Company, Tyson
becomes  disabled to the extent that he is no longer capable of  performing
his services fully as herein contemplated, the Company shall pay to him  an
annual  salary, in equal monthly installments, equal to one-half  (1/2)  of
his  average  total annual compensation (i.e., regular salary, bonuses  and
payments  relating to travel and entertainment expense) for the  three  (3)
years  immediately  preceding  the date of  his  disability  (the  "Average

      5.    Death.  In the event of Tyson's death during the term  of  this
Agreement,  the  Company shall pay to the surviving of his three  children,
John  Tyson, Cheryl Tyson and Carla Tyson, in equal shares, an annual  sum,
in  equal  monthly  installments, equal to one-half (1/2)  of  his  Average
Compensation.  These payments shall continue for a period of ten (10) years
from the date of Tyson's death.

      In  the  event  of  Tyson's death while drawing  payments  under  the
provisions of Paragraph 4, the Company shall pay to the surviving  children
in  equal  shares an annual sum, in equal monthly installments,  which  sum
shall be the same as Tyson was drawing during his disability period, for  a
period  of  time  which shall end ten (10) years from the date  of  Tyson's

      6.    Retirement.  The Company hereby retains Tyson  to  perform  and
Tyson   agrees  to  perform,  during  the  period  beginning  with  Tyson's
retirement  from active employment on the Termination Date, and  continuing
to  the end of his life, such advisory and consultative services on a  part
time  basis  as may be required by the Board of Directors of  the  Company,
subject,  however,  to the condition that Tyson shall not  be  required  to
render such services during periods of illness or other incapacity.

      The  Company shall pay Tyson and Tyson shall accept from the  Company
for  his services during this period, annual compensation, payable in equal
monthly installments, equal to one-half his Average Compensation.  If Tyson
dies  during the consultative period, the Company shall continue to pay  to
his same surviving children the aforesaid monthly payments for a period  of
time which shall end ten (10) years from the date of Tyson's retirement.

      7.   Restrictive Covenant.  Tyson expressly agrees, as a condition to
the  performance by the Company of its obligations hereunder,  that  during
the  term  of  this Agreement and during the further period  providing  for
consultative services, he will not, directly or indirectly, enter  into  or
in  any  manner take part in any business competitive with any business  of
the Company, without the prior written consent of the Company.


      8.    Prohibition Against Assignment.  Neither Tyson nor his children
shall  have  the  right to commute, encumber or dispose  of  the  right  to
receive  payments  hereunder, which payments  and  the  right  thereto  are
expressly  declared to be non-assignable and non-transferable, and  in  the
event  of any attempted assignment or transfer, the Company shall  have  no
further liability hereunder.

      9.   Reorganization.  The Company shall not merge (unless the Company
is the surviving corporation) or consolidate with any other organization or
organizations until such organization or organizations expressly assume the
duties of the Company herein set forth.

      10.   Independence  of Other Agreements.  This  Agreement  is  hereby
declared  to  be independent of the cumulative of any other  retirement  or
deferred  compensation plans now or hereafter adopted by the  Company,  and
shall  not,  unless  mutually  agreed upon in  writing,  be  supplanted  or
replaced by any other such plan or agreement.

      In  Witness  Whereof,  the parties have executed  this  Agreement  in
duplicate original the day and year first above recited.

                                   Tyson Foods, Inc.

                                   By:/s/Leland Tollett
                                        Leland Tollett,
                                        Chairman and
                                        Chief Executive Officer


/s/ Mary Rush
Mary Rush, Secretary
                                       /s/ Donald J. Tyson
                                       Donald J. Tyson