EXHIBIT 10.10
Option Agreement
CHS Inc.
Share Option Plan
Option Agreement
1. Grant of Option
. CHS hereby grants to the
Participant an Option to purchase shares of Stock from CHS at the
Exercise Price set forth in Paragraph 2 below:
The shares of Stock subject to
this Option and the total Market Price of the underlying Stock as
of the Grant Date will consist of the following investments and
that number of shares represented by the Market Price shown
below:
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Name of Investment
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Subject to Option
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Market Price
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$
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$
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$
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$
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2. Exercise and Transfer of
Option. The Option may be
exercised only by the Participant, the Participant’s
Beneficiary, or the Permitted Transferee in whole or in part,
subject to minimum exercise requirements contained in the CHS Inc.
Share Option Plan (the “Plan”). In addition, under the
terms of this Agreement, the transfer of Options is not allowable
except as permitted under Section 3.8 of the Plan. The Option
shall not otherwise be transferred, assigned, pledged or
hypothecated (whether by operation of law or otherwise), except as
provided therein, and no Option shall be subject to execution,
attachment or similar process.
Written notice of an election to
exercise the Option, specifying the desired Exercise Date and
enclosing this Agreement shall be: (a) delivered to the CHS
Inc. Share Option Plan Committee (the “Committee”) at
the following address no later than three (3) business days
prior to the desired Exercise Date, or (b) mailed (by certified
mail, postage prepaid), to the Committee at the following address
no later than ten (10) business days prior to the desired
Exercise Date:
CHS
Inc.
Share Option Plan Committee
Sta. 479
P.O. Box 64089
St. Paul, MN 55164-0089
The Committee has determined the
initial Grant Date Exercise Price shall equal twenty-five percent
(25%) of the Market Price of the Stock on the Grant Date. For these
purposes, the “Exercise Date” shall be the date upon
which the Participant’s written Option Exercise Form is
approved by the Committee after payment is received by the
Committee (or arranged by financing from a financial institution)
at its principal business address (which is
