Document:

EX-10.23

 Exhibit 10.23 

BJ’S WHOLESALE CLUB HOLDINGS, INC. 

NON-EMPLOYEE DIRECTOR COMPENSATION POLICY 

Non-employee members of the board of directors (the “Board”) of BJ’s
Wholesale Club Holdings, Inc. (the “Company”) shall be eligible to receive cash and equity compensation as set forth in this Non-Employee Director Compensation Policy (this
“Policy”). The cash and equity compensation described in this Policy shall be paid or be made, as applicable, automatically and without further action of the Board, to each member of the Board who is not an employee of the
Company or any parent or subsidiary of the Company (each, a “Non-Employee Director”), who may be eligible to receive such cash or equity compensation, unless such Non-Employee Director declines the receipt of such cash or equity compensation by written notice to the Company. This Policy shall become effective after the effectiveness of the Company’s initial public
offering (the “IPO”) and shall remain in effect until it is revised or rescinded by further action of the Board. This Policy may be amended, modified or terminated by the Board at any time in its sole discretion. The terms
and conditions of this Policy shall supersede any prior cash and/or equity compensation arrangements for service as a member of the Board between the Company and any of its Non-Employee Directors and between
any subsidiary of the Company and any of its non-employee directors. 
 1. Cash Compensation.

 (a) Annual Retainers. Each Non-Employee Director shall receive an annual retainer of
$85,000 for service on the Board. 
 (b) Additional Annual Retainers. In addition, a
Non-Employee Director shall receive the following annual retainers: 
 (i) Lead Independent
Director of the Board. A Non-Employee Director serving as Lead Independent Director of the Board shall receive an additional annual retainer of $30,000 for such service. 

(ii) Audit Committee. A Non-Employee Director serving as Chairperson of the Audit Committee
shall receive an additional annual retainer of $25,000 for such service. A Non-Employee Director serving as a member of the Audit Committee (other than the Chairperson) shall receive an additional annual
retainer of $12,500 for such service. 
 (iii) Compensation Committee. A Non-Employee
Director serving as Chairperson of the Compensation Committee shall receive an additional annual retainer of $20,000 for such service. A Non-Employee Director serving as a member of the Compensation Committee
(other than the Chairperson) shall receive an additional annual retainer of $10,000 for such service. 
 (vi) Nominating and Corporate
Governance Committee. A Non-Employee Director serving as Chairperson of the Nominating and Corporate Governance Committee shall receive an additional annual retainer of $15,000 for such service. A Non-Employee Director serving as a member of the Nominating and Corporate Governance Committee (other than the Chairperson) shall receive an additional annual retainer of $7,500 for such service. 

(c) Payment of Retainers. The annual retainers described in Sections 1(a) and 1(b) shall be earned on a quarterly basis based on a
calendar quarter and shall be paid by the Company in arrears not later than the fifteenth day following the end of each calendar quarter. In the event a Non-Employee Director does not serve as a Non-Employee Director, or in the applicable positions described in Section 

 
1(b), for an entire calendar quarter, such Non-Employee Director shall receive a prorated portion of the retainer(s) otherwise payable to such Non-Employee Director for such calendar quarter pursuant to Sections 1(a) and 1(b), with such prorated portion determined by multiplying such otherwise payable retainer(s) by a fraction, the numerator of which is
the number of days during which the Non-Employee Director serves as a Non-Employee Director or in the applicable positions described in Section 1(b) during the
applicable calendar quarter and the denominator of which is the number of days in the applicable calendar quarter. 
 2. Equity
Compensation. Non-Employee Directors shall be granted the equity awards described below. The awards described below shall be granted under and shall be subject to the terms and provisions of the
Company’s 2018 Incentive Award Plan or any other applicable Company equity incentive plan then-maintained by the Company (such plan, as may be amended from time to time the “Equity Plan”) and shall be granted subject to
the execution and delivery of award agreements, including attached exhibits, in substantially the forms previously approved by the Board. All applicable terms of the Equity Plan apply to this Policy as if fully set forth herein, and all equity
grants hereunder are subject in all respects to the terms of the Equity Plan. 
 (a) Annual Awards. Each Non-Employee Director who (i) serves on the Board as of the date of any annual meeting of the Company’s stockholders (an “Annual Meeting”) after the Pricing Date and (ii) will
continue to serve as a Non-Employee Director immediately following such Annual Meeting shall be automatically granted, on the date of such Annual Meeting, restricted stock units that have an aggregate fair
value on the date of grant of $140,000 (as determined in accordance with ASC 718 and subject to adjustment as provided in the Equity Plan). The awards described in this Section 2(a) shall be referred to as the “Annual
Awards.” For the avoidance of doubt, a Non-Employee Director elected for the first time to the Board at an Annual Meeting shall receive only an Annual Award in connection with such election, and
shall not receive any Initial Award on the date of such Annual Meeting as well. 
 (b) Initial Awards. Except as otherwise determined
by the Board, each Non-Employee Director who is initially elected or appointed to the Board after the Pricing Date on any date other than the date of an Annual Meeting shall be automatically granted, on the
date of such Non-Employee Director’s initial election or appointment (such Non-Employee Director’s “Start Date”), restricted stock units that have an
aggregate fair value on such Non-Employee Director’s Start Date equal to the product of (i) $140,000 (as determined in accordance with ASC 718 and subject to adjustment as provided in the Equity Plan) and
(ii) a fraction, the numerator of which is (x) 365 minus (y) the number of days in the period beginning on the date of the Annual Meeting immediately preceding such Non-Employee Director’s Start
Date (or, if no such Annual Meeting has occurred, the effective date of the Company’s IPO) and ending on such Non-Employee Director’s Start Date and the denominator of which is 365 (with the number
of shares of common stock underlying each such award subject to adjustment as provided in the Equity Plan). The awards described in this Section shall be referred to as “Initial Awards.” For the avoidance of doubt, no Non-Employee Director shall be granted more than one Initial Award. 
 (c) Deferral of Awards.
Notwithstanding the foregoing, each Non-Employee Director may elect to defer the grant of an Annual Award or Initial Award, subject to compliance with Section 409A of the Internal Revenue Code of 1986, as
amended. The Board may also determine, in its sole discretion that an Annual Award for a Non-Employee Director be granted in the form of deferred stock or shares of common stock with equivalent value on the
date of grant. 

 (d) Termination of Employment of Employee Directors. Members of the Board who are
employees of the Company or any parent or subsidiary of the Company who subsequently terminate their employment with the Company and any parent or subsidiary of the Company and remain on the Board will not receive an Initial Award pursuant to
Section 2(b) above, but to the extent that they are otherwise eligible, will be eligible to receive, after termination from employment with the Company and any parent or subsidiary of the Company, Annual Awards as described in Section 2(a)
above. 
 (e) Vesting of Awards Granted to Non-Employee Directors. Each Annual Award and
Initial Award shall vest and become exercisable on the earlier of (i) the day immediately preceding the date of the first Annual Meeting following the date of grant and (ii) the first anniversary of the date of grant, subject to the Non-Employee Director continuing in service on the Board through the applicable vesting date. No portion of an Annual Award or Initial Award that is unvested or unexercisable at the time of a Non-Employee Director’s termination of service on the Board shall become vested and exercisable thereafter. In the event that a Non-Employee Director incurs a Termination
of Service upon or within twelve months following a Change in Control (as such terms are defined in the Equity Plan), each of the Non-Employee Director’s outstanding Initial Awards and Annual Awards shall
accelerate and vest in full. 
 * * * * *EX-10.24

 Exhibit 10.24 

BJ’S WHOLESALE CLUB, INC. 

DIRECTOR STOCK OWNERSHIP POLICY 

Section 1. Purpose and Effective Date. 

The purpose of this Director Stock Ownership Policy (this “Policy”), together with the equity awards granted to certain
members of the board of directors (the “Board”) of BJ’s Wholesale Club, Inc. (the “Company”) pursuant to the Company’s Non-Employee Director
Compensation Policy, as may be amended from time to time (the “Non-Employee Director Compensation Policy”), is to encourage such members of the Board to remain invested in the
performance of the Company and the Company’s common stock, par value $0.01 per share (the “Common Stock”), and to more closely align the interests of the members of the Board with those of the Company’s
shareholders. This Policy is designed to aid the Company in attracting and retaining those persons whose abilities, experience and judgment can contribute to maximizing stockholder value. This Policy shall become effective upon the consummation of
an initial public offering of the Company’s Common Stock and if such an initial public offering does not occur on or prior to December 31, 2018 this policy shall be void ab initio. 

Section 2. Share Ownership Requirements. 

(a) Minimum Ownership Requirement. Each person serving as a member of the Board that is not an employee of the Company or its
subsidiaries (each, a “Non-Employee Director”) is required to maintain during his or her tenure at the Company beneficial ownership of a number of shares of Common Stock with a value
equal to five times his or her applicable annual cash retainer, excluding any committee retainers or retainers paid based on his or her service as lead independent director, if applicable (the “Minimum Ownership
Requirement”), during his or her service on the Board. The value of a Non-Employee Director’s beneficial ownership shall be calculated by multiplying (i) the sum of the number of shares
of Common Stock beneficially owned by the Non-Employee Director (as determined in accordance with Section 2(b) hereof) by (ii) the closing price per share of the Common Stock on the applicable
measurement date. Once a Non-Employee Director has achieved his or her Minimum Ownership Requirement, he or she will not be deemed non-compliant with this Policy if the
value of his qualifying shares (as determined pursuant to Section 2(b) below) decreases below the Minimum Ownership Requirement solely due to a decrease in the closing price per share of Common Stock on the applicable measurement date and not
due to a sale or other disposal of Common Stock by the Non-Employee Director. 
 (b) Counting.
For purposes of this Policy, shares of Common Stock that count toward satisfaction of the Minimum Ownership Requirement shall include (a) any class of equity securities of the Company, in any case whether held (i) directly or indirectly or
by or for the benefit of immediate family members; (ii) by trusts for the benefit of such person or such person’s immediate family members, or (iii) in a 401(k) plan, IRA or deferred compensation plan; and (b) shares of
restricted Common Stock and shares subject to outstanding restricted stock unit awards, in either case, that vest solely based on the passage of time. Shares of Common Stock that count toward satisfaction of the Minimum Ownership Requirement shall
not include (x) shares of Common Stock subject to outstanding stock options, whether exercisable or unexercisable; (y) unearned performance-based vesting restricted Common Stock, restricted stock unit awards or other incentive
awards; and (z) warrants and all other forms of derivative securities. 

 Section 3. Compliance. 

(a) Compliance Deadline. Each Non-Employee Director serving on the Board as of the date hereof
shall have until [    , 2023]1 to come into compliance with this Policy. Any newly appointed or elected Non-Employee Director hereafter
shall come into compliance with this Policy no later than the fifth anniversary of the Non-Employee Director’s appointment or election. 

(b) Determination of Share Ownership. Each Non-Employee Director shall certify as to his or her
compliance with the Minimum Ownership Requirement during his or her service on the Board of Non-Employee Directors of the Company at least once each year (beginning with the year in which these ownership
guidelines become applicable to such Non-Employee Director) in connection with responding to the Company’s annual Director and Officer Questionnaire. 

(c) Exceptions. The Minimum Ownership Requirement may be waived, at the sole discretion of the disinterested members of the Board, if
compliance would create severe hardship for a Non-Employee Director, or would violate Section 16(b) of the Securities Exchange Act of 1934, as amended or would prevent the
Non-Employee Director from complying with a court order, as in the case of a divorce settlement. A Non-Employee Director may file notice with the Corporate Secretary to
be presented to the Board, advising the Board of the circumstances and describing the extent of the waiver requested. It is expected that these instances will be rare. 

(d) Remedies for Non-Compliance. The Compensation Committee of the Board (the
“Compensation Committee”) has the authority to review each Non-Employee Director’s compliance (or progress towards compliance) with this Policy from time to time and, in its sole
discretion, to impose such conditions, restrictions or limitations on any Non-Employee Director as the Compensation Committee determines to be necessary or appropriate in order to achieve the purposes of this
Policy. For example, the Compensation Committee may mandate that a Non-Employee Director retain (and not transfer) all or a portion of any shares delivered to the
Non-Employee Director through the Company’s equity plans or otherwise restrict the Non-Employee Director’s transfer of previously owned shares. 

Section 4. Administration of the Policy. 

(a) Authority. The Compensation Committee shall conduct the general administration of this Policy in accordance with its provisions. The
Compensation Committee shall have full power and authority to interpret this Policy and to adopt such rules for the administration, interpretation and application of this Policy as are consistent therewith and to interpret, amend or revoke any such
rules. The Compensation Committee may delegate administrative duties under this Policy to one or more agents as it shall deem necessary or advisable. Any decision or action taken by the Compensation Committee with respect to the administration or
interpretation of this Policy shall be conclusive and binding on all persons. 
 (b) Liability. No member of the Board shall be
personally liable for any action or determination made in good faith with respect to this Policy or to any settlement of any dispute between a Non-Employee Director and the Company. The Board shall be entitled
to rely upon the advice or opinions of any attorneys, consultants, accountants, appraisers, brokers or other persons with respect to all matters concerning this Policy. 

Section 5. Amendment, Modification, and Termination. 

This Policy may at any time or from time to time be amended, modified or terminated by the Compensation Committee. 

 

	1 	 NTD: To be the fifth anniversary of the IPO. 

  
 2

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