On December 4, 2023, Tyson Foods, Inc. appointed Lori Bondar as Senior Vice President and Chief Accounting Officer. In connection with the appointment, Phillip Thomas will step down as Chief Accounting Officer, and will continue in his role as Vice President and Controller of the Company, focusing more extensively on certain upcoming reporting requirements and corporate transformation initiatives. Ms. Bondar, age 62, was most recently Vice President, Controller, Chief Accounting Officer and Treasurer of Avery Dennison Corporation, a leading manufacturing company specializing in labeling and functional materials.

She joined Avery Dennison Corporation in 2008, has served as its Vice President, Controller and Chief Accounting Officer since 2010, and was appointed as Treasurer in 2020. Prior to 2008, Ms. Bondar held various senior financial and accounting roles, including as Chief Financial Officer of Acetex Corporation, as Chief Financial Officer of the Styrenics Division of Nova Chemicals, and as Vice President Market Risk Management at TransCanada. In connection with her appointment, Ms. Bondar will receive an annual base salary of $500,000 and will be eligible to participate in the Company?s annual incentive plan, with a target annual incentive of 70% of her base salary.

She also received a sign-on payment of $100,000 and a one-time contribution of $600,000 to the Company?s Executive Savings Plan. Ms. Bondar will be required to repay the sign-on payment if she voluntarily terminates her employment prior to her two-year anniversary with the Company, and she will also be required to forfeit the one-time contribution if she voluntarily terminates her employment or is terminated for cause within that time. Ms. Bondar received a one-time restricted stock award in the amount of $1,400,000, which will vest equally on each of the first three anniversaries of the grant date.

Additionally, she is eligible to participate in the Company?s long-term incentive program. Her annual long-term incentive target award is $300,000, with the mix of such award being weighted at 25%, 25% and 50% among stock options, restricted stock and performance stock, respectively. She is also eligible to participate in the Company?s Executive Rewards Allowance, which provides her with an annual cash allowance of $12,000, and for relocation benefits in accordance with Company policy.