Post-Termination Agreement – Walmart
AMENDMENT TO AGREEMENT
This Amendment to Agreement (“Amendment”) is made and entered into on the
day of December, 2005, between (“the Associate”), and Wal-Mart
Stores, Inc., a Delaware corporation, and its affiliates and subsidiaries
(collectively “Wal-Mart”).
WHEREAS, The Associate and Wal-Mart have entered into an
agreement concerning, among other things, restrictions on the Associate153s
employment after terminating from employment with Wal-Mart (the “Transition
Agreement”); and
WHEREAS, by this Amendment, the Associate and Wal-Mart wish
to amend certain provisions of the Transition Agreement relating to
post-employment payments by Wal-Mart to the Associate;
NOW THEREFORE, for good and sufficient consideration, the
sufficiency of which the parties acknowledge, the parties agree as follows:
| 1. | Transition Payments.
The Associate and Wal-Mart agree that the existing language in the Transition |
The Associate will receive Transition Payments based on the Associate153s base
salary on the date of termination (the “Salary”). Transition Payments will begin
at the end of the regularly scheduled pay period six months after the date of
termination. The first Transition Payment shall be an amount equal to six
months153 Salary, less applicable withholding. Thereafter, each Transition Payment
shall be an amount equal to the Associate153s biweekly Salary payment, less
applicable withholding, which will continue for the period set forth in the
Transition Agreement.
| APPROVED AND AGREED: | ||||||
| WAL-MART STORES, INC. | ||||||
|
By |
||||||
SCHEDULE TO EXHIBIT
This Schedule of Executive Officers Who Have Executed an Amendment to
Post-Termination Agreement and Covenant Not to Compete is included pursuant to
Instruction 2 of Item 601(a) of Regulation S-K for the purposes of setting forth
the material details in which the specific agreements differ from the form of
agreement filed herewith as Exhibit 10(1).
|
Executive Officer |
Date of Agreement | |
|
Michael T. Duke |
December 1, 2005 |
|
|
Thomas M. Schoewe |
December 31, 2005 |
|
|
Thomas D. Hyde |
December 30, 2005 |
– 2 –
AMENDMENT B
(6 months of salary paid upon separation, with remaining
payments beginning 6 months after separation)
AMENDMENT TO AGREEMENT
This Amendment to Agreement (“Amendment”) is made and entered into on the
day of December, 2005, between (“the Associate”), and Wal-Mart
Stores, Inc., a Delaware corporation, and its affiliates and subsidiaries
(collectively “Wal-Mart”).
WHEREAS, The Associate and Wal-Mart have entered into an
agreement concerning, among other things, restrictions on the Associate153s
employment after terminating from employment with Wal-Mart (the “Transition
Agreement”); and
WHEREAS, by this Amendment the Associate and Wal-Mart wish
to amend certain provisions of the Transition Agreement relating to
post-employment payments by Wal-Mart to the Associate;
NOW THEREFORE, for good and sufficient consideration, the
sufficiency of which the parties acknowledge, the parties agree as follows:
| 1. | Transition Payments.
The Associate and Wal-Mart agree that the existing language in the Transition |
The Associate will receive Transition Payments based on the Associate153s base
salary on the date of termination (the “Salary”). The first Transition Payment
shall be an amount equal to six months153 Salary, less applicable withholding, and
shall be paid on the date of termination or as soon thereafter as practical.
Subsequent Transition Payments shall commence at the end of the regularly
scheduled pay period six months after the date of termination, and each such
payment shall be an amount equal to the Associate153s biweekly Salary payment,
less applicable withholding, which will continue for the period set forth in the
Transition Agreement.
| APPROVED AND AGREED: | ||||||
| WAL-MART STORES, INC. | ||||||
|
By |
||||||
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