Company: TJX
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0000109198-25-000024
Chunk: 57

Company: TJX COMPANIES INC /DE/
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 57
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 management team at TJX relative to other executive chairman roles that may be more limited or transitional in nature. The Committee determined that compensation for Ms. Meyrowitz continued to be reasonable and appropriate in light of her ongoing responsibilities and contributions to the Company. During FY25, the Committee reviewed additional market information and advice from its independent compensation consultant, including an evaluation of peers and other Fortune 200 companies with executive chairman positions, in connection with the extension of the employment agreement with Ms. Meyrowitz in January 2025 described above.

Ms. Meyrowitz is an active and integral member of the executive management team in addition to serving as Chairman of the Board. In her role as Executive Chairman, she serves as a key resource to management in the areas of merchandising, marketing, and internal training, drawing upon her decades of experience with our distinct off-price business model and her extensive understanding of the evolving retail environment, business innovation, and the Company’s strategic initiatives and long-term strategy. Ms. Meyrowitz has wide ranging, in-depth knowledge of our off-price business and the retail industry overall, and our Board strongly believes that, through her role as an active senior executive at TJX and her support of senior management, she continues to make significant contributions to TJX’s long-term growth and success in addition to providing experienced leadership to the Board.

Severance, Retirement, and Change of Control Provisions

We provide benefits to our executive officers in connection with certain terminations of employment, and in connection with a change of control of TJX, under the terms of our employment agreements and plans. Each NEO has agreed to post-employment non-competition, non-solicitation, and other covenants intended to protect our business. Each of our NEOs, other than Mr. Klinger, participates in our Executive Severance Plan established in 2018 (the 2018 Severance Plan), and Mr. Klinger participates in our Executive Severance and Change of Control Plan established in 2022 (the 2022 Severance Plan). The 2018 Severance Plan established certain restrictive covenant obligations, and related severance entitlements, for a limited set of TJX executives with employment agreements and is now closed to new participants. Newly promoted executives, including Mr. Klinger, are eligible to participate in the 2022 Severance Plan as approved by the Committee. Both severance plans provide for payments and benefits upon a qualifying termination of employment and include restrictive covenants and other conditions. Change of control benefits are