John H. Tyson Extends Tyson Foods Chair Deal to 2029 for $40 Million Cash
Updated
Updated · Arkansas Online · Jun 19
John H. Tyson Extends Tyson Foods Chair Deal to 2029 for $40 Million Cash
1 articles · Updated · Arkansas Online · Jun 19
Summary
$40 million in one-time cash and a $3.5 million annual salary will keep John H. Tyson as Tyson Foods board chair through 2029 under a new agreement announced Thursday.
The contract replaces a 2017 agreement, automatically renews in successive three-year terms, and ties part of the cash award to repayment if he resigns voluntarily without good reason.
Tyson Foods also kept broad executive perks in place, including company-aircraft use for personal and business travel, 300 annual flight hours when he is not aboard, and up to $150,000 a year in added security.
If the deal ends early, Tyson could receive at least two years of base salary plus multiples of bonus and long-term incentive awards, alongside about $175,000 a year in supplemental retirement payments.