{"id":40271,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/post-termination-agreement-walmart.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"post-termination-agreement-walmart","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/post-termination-agreement-walmart.html","title":{"rendered":"Post-Termination Agreement – Walmart"},"content":{"rendered":"

AMENDMENT TO AGREEMENT <\/u><\/strong><\/p>\n

This Amendment to Agreement (“Amendment”) is made and entered into on the
\n <\/u> day of December, 2005, between <\/u> (“the Associate”), and Wal-Mart
\nStores, Inc., a Delaware corporation, and its affiliates and subsidiaries
\n(collectively “Wal-Mart”).<\/p>\n

WHEREAS, <\/strong>The Associate and Wal-Mart have entered into an
\nagreement concerning, among other things, restrictions on the Associate153s
\nemployment after terminating from employment with Wal-Mart (the “Transition
\nAgreement”); and<\/p>\n

WHEREAS<\/strong>, by this Amendment, the Associate and Wal-Mart wish
\nto amend certain provisions of the Transition Agreement relating to
\npost-employment payments by Wal-Mart to the Associate;<\/p>\n

NOW THEREFORE<\/strong>, for good and sufficient consideration, the
\nsufficiency of which the parties acknowledge, the parties agree as follows:<\/p>\n<\/p>\n\n\n\n
<\/td>\n1.<\/strong><\/td>\nTransition Payments. <\/strong><\/p>\n

The Associate and Wal-Mart agree that the existing language in the Transition
\nAgreement concerning the timing of post-employment payments shall be superseded
\nby the following language:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The Associate will receive Transition Payments based on the Associate153s base
\nsalary on the date of termination (the “Salary”). Transition Payments will begin
\nat the end of the regularly scheduled pay period six months after the date of
\ntermination. The first Transition Payment shall be an amount equal to six
\nmonths153 Salary, less applicable withholding. Thereafter, each Transition Payment
\nshall be an amount equal to the Associate153s biweekly Salary payment, less
\napplicable withholding, which will continue for the period set forth in the
\nTransition Agreement.<\/p>\n<\/p>\n\n\n\n\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
APPROVED AND AGREED:<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\nWAL-MART STORES, INC.<\/strong><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n\n

By<\/p>\n<\/td>\n

<\/td>\n\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
\n

SCHEDULE TO EXHIBIT <\/strong><\/p>\n

This Schedule of Executive Officers Who Have Executed an Amendment to
\nPost-Termination Agreement and Covenant Not to Compete is included pursuant to
\nInstruction 2 of Item 601(a) of Regulation S-K for the purposes of setting forth
\nthe material details in which the specific agreements differ from the form of
\nagreement filed herewith as Exhibit 10(1).<\/p>\n\n\n\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Executive Officer<\/strong><\/p>\n<\/td>\n

<\/td>\nDate of Agreement<\/strong><\/td>\n<\/tr>\n
\n

Michael T. Duke<\/p>\n<\/td>\n

<\/td>\n\n

December 1, 2005<\/p>\n<\/td>\n<\/tr>\n

\n

Thomas M. Schoewe<\/p>\n<\/td>\n

<\/td>\n\n

December 31, 2005<\/p>\n<\/td>\n<\/tr>\n

\n

Thomas D. Hyde<\/p>\n<\/td>\n

<\/td>\n\n

December 30, 2005<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

– 2 –<\/p>\n

\n

AMENDMENT B <\/u><\/p>\n

(6 months of salary paid upon separation, with remaining<\/p>\n

payments beginning 6 months after separation)<\/p>\n

\n

AMENDMENT TO AGREEMENT <\/u><\/strong><\/p>\n

This Amendment to Agreement (“Amendment”) is made and entered into on the
\n <\/u> day of December, 2005, between <\/u> (“the Associate”), and Wal-Mart
\nStores, Inc., a Delaware corporation, and its affiliates and subsidiaries
\n(collectively “Wal-Mart”).<\/p>\n

WHEREAS, <\/strong>The Associate and Wal-Mart have entered into an
\nagreement concerning, among other things, restrictions on the Associate153s
\nemployment after terminating from employment with Wal-Mart (the “Transition
\nAgreement”); and<\/p>\n

WHEREAS<\/strong>, by this Amendment the Associate and Wal-Mart wish
\nto amend certain provisions of the Transition Agreement relating to
\npost-employment payments by Wal-Mart to the Associate;<\/p>\n

NOW THEREFORE<\/strong>, for good and sufficient consideration, the
\nsufficiency of which the parties acknowledge, the parties agree as follows:<\/p>\n\n\n\n
<\/td>\n1.<\/strong><\/td>\nTransition Payments. <\/strong><\/p>\n

The Associate and Wal-Mart agree that the existing language in the Transition
\nAgreement concerning the timing of post-employment payments shall be superseded
\nby the following language:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The Associate will receive Transition Payments based on the Associate153s base
\nsalary on the date of termination (the “Salary”). The first Transition Payment
\nshall be an amount equal to six months153 Salary, less applicable withholding, and
\nshall be paid on the date of termination or as soon thereafter as practical.
\nSubsequent Transition Payments shall commence at the end of the regularly
\nscheduled pay period six months after the date of termination, and each such
\npayment shall be an amount equal to the Associate153s biweekly Salary payment,
\nless applicable withholding, which will continue for the period set forth in the
\nTransition Agreement.<\/p>\n\n\n\n\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
APPROVED AND AGREED:<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\nWAL-MART STORES, INC.<\/strong><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n\n

By<\/p>\n<\/td>\n

<\/td>\n\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[9281],"corporate_contracts_industries":[9495],"corporate_contracts_types":[9539,9551],"class_list":["post-40271","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-wal-mart-stores-inc","corporate_contracts_industries-retail__department","corporate_contracts_types-compensation","corporate_contracts_types-compensation__severance"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/40271","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=40271"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=40271"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=40271"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=40271"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}