JOHN DEERE STOCK OPTIONS
Terms and Conditions
These stock options will become exercisable over a three-year period with 34% becoming exercisable one year after the grant date and 33% becoming exercisable on each of the second and third years after the grant date. Vesting is accelerated upon retirement or disability (each as defined under the John Deere 2020 Equity and Incentive Plan (Plan)), allowing you to exercise these stock options six months after the grant date. If you die while actively employed, the entire stock option amount will be exercisable immediately by your beneficiaries or heirs.
These stock options will expire ten years after the grant date. If you retire on or before October 31, _________, a prorated number of these stock options will be forfeited based on the percentage determined by dividing: (i) the number of calendar months from and including the month of retirement pursuant to applicable Company plans to and including October ____; by (ii) 12. Subject to the preceding sentence, if you retire or become disabled (as defined under the Plan), you or your beneficiaries or heirs, as the case may be, can exercise these stock options within five years of separation or ten years from the date of grant, whichever comes first. If you die after retirement or becoming disabled, the exercise period may be extended to one year from date of death. If you die while actively employed, your beneficiaries or heirs can exercise these stock options within one year after the date of death or ten years from the date of grant, whichever comes first. Stock options will be cancelled upon the date of termination of employment for reasons other than death, disability or retirement. Stock options are subject to being suspended and terminated if your employment is suspended or you are placed on a leave of absence. Regardless of the circumstance, all unexercised stock options will expire ten years from the date of grant.
The option price of your grant is the closing price of Deere & Company common stock on the New York Stock Exchange at the conclusion of regular trading hours on the date of grant.
Commissions, fees, and other expenses connected with the exercise and sale of this stock option grant are payable by you. No commissions or fees are charged if you purchase and hold the shares.
Stock options are currently exercised through Fidelity. Information regarding the exercise process is available via the Internet at ___________ or by calling (__) ___-____ in the U.S. Toll-free codes for calling from outside the U.S. can be accessed via the Internet at _____________.
You may not voluntarily or involuntarily sell, transfer, gift, pledge, assign or otherwise alienate the stock options, including but not limited to transfers related to estate planning, dissolution of marriage, collection, execution, attachment, and any other voluntary or involuntary transfer. Any attempt to do so contrary to the provisions hereof shall be null and void.
These stock options were granted under and are subject to the terms of the Plan, for which a prospectus is available at _________. Any inconsistencies between these terms & conditions and the Plan shall be resolved in accordance with the terms of the Plan. A paper copy of the prospectus is also available upon request from Deere & Company Global Compensation, One John Deere Place, Moline, Illinois, 61265-8098. The latest Deere & Company Annual Report and Proxy Statement are available electronically at http://www.deere.com/stock or in hard copy upon request from Deere & Company Investor Relations.