Document:

EXHIBIT 10.1

 

Separation, Advisory,
AND NONCOMPETition Agreement

 

THIS SEPARATION, ADVISORY, AND NONCOMPETITION AGREEMENT (this “Agreement”),
dated as of November 2, 2016, is entered into by and between Whole Foods Market, Inc., a Texas corporation (the “Company”),
and Walter E. Robb, IV (“Robb”).

 

WHEREAS, Robb currently serves as (a) Co-Chief Executive Officer
of the Company and will continue to do so through December 31, 2016 (the “Resignation Date”), and (b) a
member of the Board of Directors of the Company (the “Board”);

 

WHEREAS, Robb has invaluable knowledge and expertise regarding the
business of the Company;

 

WHEREAS, due to Robb’s knowledge and expertise, the Company
wishes to have the cooperation of, and access to, Robb following the Resignation Date;

 

WHEREAS, the Company and Robb now desire to enter into a mutually
satisfactory arrangement concerning, among other things, Robb’s separation from service with the Company on the Resignation
Date, and service to the Company as an independent contractor advisor following the Resignation Date, and other matters related
thereto; and

 

WHEREAS, simultaneously herewith, the Company and Robb are entering
into an amendment to the Whole Foods Executive Retention Plan and Non-Compete Arrangement Agreement, dated as of May 16, 2012
(as amended, the “Plan Agreement”), by and between Whole Foods Market Services, Inc., a Delaware corporation
(“WFM Services”), and Robb.

 

NOW, THEREFORE, in consideration of the premises and the mutual promises
contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the Company and Robb hereby agree as follows:

 

1.                 
Separation from Service.

 

(a)               
Resignation. The Company and Robb hereby agree that Robb’s employment with the Company shall terminate
as a result of Robb’s resignation on the Resignation Date (the “Resignation”). The Resignation Date shall
be deemed to be the date of Robb’s “separation from service” for purposes of Section 409A of the Internal
Revenue Code of 1986, as amended (the “Code”), and the date that Robb’s employment ends for purposes of
the Plan Agreement and any applicable plans or programs of the Company and its affiliates. Robb further acknowledges that, effective
on the Resignation Date and by virtue of executing this Agreement, and without any further action by Robb, Robb hereby resigns
Robb’s position as Co-Chief Executive Officer of the Company and as an employee, director, manager, or officer of, or any
other position with, the Company or any of its affiliates; provided, however, that Robb is not resigning, and shall
not be deemed to have resigned, from the Company’s Board or any charitable foundations supported by the Company under this
Section 1(a).

 

     

     

    

(b)              
Acknowledgments. The Company and Robb acknowledge and agree that for purposes of all employee benefit plans,
agreements, policies, and arrangements of the Company and its affiliates in which Robb participated or to which Robb was a party
(including, without limitation, the Plan Agreement), the Resignation shall be treated as a termination of employment by Robb with
Good Reason (as that term is defined in the Whole Foods Executive Retention Plan and Non-Compete Arrangement), and that the conditions
to receipt of the benefits under the foregoing have been met. Accordingly, the Company and Robb acknowledge and agree that, upon
Robb’s resignation as of the Resignation Date and subject to compliance with the terms of the Plan Agreement, Robb will receive
the Non-Compete Payments (as defined in the Plan Agreement) contemplated in the Plan Agreement and his stock options (other than
options granted in 2016, which shall be subject to the terms of the applicable award agreement), restricted stock, and similar
awards will become vested and, if applicable, immediately exercisable, in each case, on the terms and subject to the conditions
set forth in the Plan Agreement. Further, from and after the date hereof, Robb waives any right to resign from the Company and
its affiliates for “good reason” or a similar term of like meaning for purposes of any employee benefit plan, agreement,
policy, or arrangement of the Company and its affiliates (including, without limitation, the Plan Agreement) prior to the Resignation
Date.

 

(c)               
Indemnification; Release. The Company and Robb acknowledge and agree that the Indemnification and Hold Harmless
Agreement, dated as of April 13, 2009, by and among the Company, WFM Services, Whole Foods Market Group, Inc., a Delaware
corporation, Mrs. Gooch’s Natural Food Markets, Inc., a California corporation, and Robb shall remain in full force and effect
following the Resignation Date in accordance with its terms. The Company and Robb further agree that Robb shall sign the Waiver
and Release contemplated by the Plan Agreement within the time period set forth therein, but that nothing contained therein shall
be construed to reduce or diminish Robb’s rights and benefits contemplated in this Agreement.

 

2.                 
Separation Payments and Benefits.

 

(a)               
Accrued Obligations. Within the 30-day period following the Resignation Date, Robb shall receive a payment
equal to Robb’s accrued but unpaid salary and accrued but unused paid time off through the Resignation Date. Following the
Resignation Date, Robb shall also be entitled to any vested amount arising from Robb’s participation in, or benefits under,
any employee benefit plans, programs, policies, or arrangements, which amounts shall be payable in accordance with the terms and
conditions of such employee benefit plans, programs, policies, or arrangements and applicable law.

 

(b)              
Payment in Respect of Health Insurance Premiums. The Company shall pay to Robb an amount in cash equal to
the product of (i) 1.3 multiplied by (ii) the monthly COBRA premium in effect as of the Resignation Date for the health
insurance plan in which Robb participates as of the Resignation Date multiplied by (iii) the number of months elapsed between
July 2018 and the month in which Robb attains age 65 within 30 days following the Resignation Date.

 

(c)               
Lifetime Discount. On the Resignation Date, the Company shall provide Robb a lifetime discount card providing
for a 30% discount on purchases made at Company stores.

 

(d)              
Relocation. The Company shall reimburse Robb for reasonable expenses related to the relocation of Robb’s
personal possessions currently in his Company office in Austin, Texas, to a location to be designated by him in California, subject
to Robb submitting claims for such reimbursement (accompanied by supporting documentation) by March 15, 2017.

 

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(e)               
Certain Electronic Devices. Robb shall be permitted to retain his Company-issued laptop, iPad, and cell phone;
provided that the Company shall be permitted to take such actions as are necessary to ensure the return or deletion of any
Confidential Information (as defined below) residing on such devices.

 

3.                 
Advisory Period. Robb shall render the Services (as defined below) for the period beginning on January 1,
2017 and ending on September 24, 2017 (the “Advisory Period”).

 

4.                 
Services. During the Advisory Period, Robb shall provide general advisory and transition support services
as reasonably requested by the Chief Executive Officer of the Company in connection with specific projects in respect of which
Robb has particular expertise based on his employment with the Company (the “Services”). The Company and Robb
shall use their commercially reasonable efforts to ensure that the level of Robb’s services under this Agreement is consistent
with the parties’ intent (which is hereby acknowledged by the Company and Robb) that Robb’s termination of employment
with the Company constitutes a “separation from service” within the safe harbor for that term under Section 409A
of the Code. The parties agree that Robb shall be permitted to provide the Services remotely, except as may otherwise be determined
by the parties from time to time. The Company shall make available Robb’s current executive assistant who is located in California
to serve as Robb’s executive assistant during the Advisory Period (so long as such assistant has not died, become disabled,
or resigned from employment with the Company).

 

5.                 
Remuneration.

 

(a)               
Advisory Fee. In consideration for agreeing to provide the Services during the Advisory Period, Robb shall
be paid an aggregate fee equal to the cap for E-team salaries and bonuses in the 2017 fiscal year (the “Advisory
Fee”), with $750,000 of such amount payable in equal biweekly installments in arrears and the excess, if any, of the
Advisory Fee over $750,000 payable in cash in a lump sum within five business days following determination of such cap (and, in
any event, no later than March 15, 2018).

 

(b)              
Noncompetition Covenant Fee. In consideration for agreeing to the noncompetition covenant set forth in Section 9(b),
Robb shall be paid an aggregate fee of $10 million, payable in cash in a lump sum within 30 days following the Resignation
Date.

 

(c)               
Board Compensation. While Robb is serving on the Board following the Resignation Date, Robb shall be entitled
to receive compensation as provided generally to non-employee members of the Board from time to time.

 

(d)              
Expenses. The Company shall reimburse Robb pursuant to the Company’s reimbursement policies as in effect
from time to time for senior executives for reasonable business expenses incurred by Robb in connection with the performance of
the Services.

 

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(e)               
Benefits. Robb acknowledges and agrees that he shall not be entitled to participate in any employee benefit
plans of the Company or its affiliates, other than pursuant to his rights to COBRA continuation coverage and any such plans that
are available to non-employee members of the Board from time to time.

 

6.                 
Sole Consideration. Except as specifically contemplated in this Agreement, Robb shall be entitled to no compensation
or benefits from the Company or its affiliates with respect to the Services, including without limitation, any bonus or equity
awards or other long-term incentive awards, and shall not be credited with any service, age, or other credit for purposes of eligibility,
vesting, or benefit accrual under any employee benefit plan of the Company or its affiliates.

 

7.                 
Status as a Non-Employee. The Company and Robb acknowledge and agree that, in performing the Services pursuant
to this Agreement, Robb shall be acting and shall act at all times as an independent contractor only and not as an employee, agent,
partner, or joint venturer of or with the Company or its affiliates. Robb acknowledges that Robb is and shall be solely responsible
for the payment of all federal, state, local, and foreign taxes that are required by applicable laws or regulations to be paid
with respect to all compensation and benefits payable or provided hereunder and shall not be eligible to participate in or accrue
benefits under any employee benefit plan sponsored by the Company or its affiliates. The Company acknowledges that Robb is not
prohibited by this Agreement from obtaining employment with or otherwise providing services to another entity during the Advisory
Period, subject to Robb’s compliance with Section 9.

 

8.                 
No Termination of Advisory Period. Neither the Company nor Robb may terminate the Advisory Period prior to
September 24, 2017 without the written consent of the other party.

 

9.                 
Confidentiality; Noncompetition.

 

(a)               
Confidentiality.

 

(i)                
Definition of Confidential Information. For purposes of this Agreement, “Confidential Information”
means any information or material (A) generated or collected by, or utilized in the operations of, the Company that relates
to the actual or anticipated business or research and development conducted by or on behalf of the Company, or (B) suggested
by or resulting from any task assigned to Robb or work performed by Robb for or on behalf of the Company, including, for example
and without limitation, information and materials relating or pertaining to the Company’s financial performance, financial
statements and reports, financial projections, accounting methods and information, business plans, strategic plans, plans regarding
the Company’s future growth, development and projects, marketing plans and strategies, sales methods and strategies, products,
pricing strategies, price lists, vendor lists, vendor information (including, without limitation, their history of dealings with
the Company), employee files, employee compensation, skills, performance and qualifications of the Company’s personnel, trade
secrets, inventions (whether patented or unpatented), copyrights, service marks, know-how, computer programs, computer code and
related documentation, processes, methods, formulas, research, development, licenses, permits, board and management deliberations
and strategies, and compilations of any of the foregoing information relating to the actual or anticipated business of the Company.
“Confidential Information” does not include information that properly and lawfully has become generally known to the
public or the Company’s competitors other than as a result of any act or omission by Robb. “Confidential Information”
also includes information that belongs to the Company’s vendors and customers and is not generally known to the public. This
includes information that could be used by the Company’s competitors to gain an advantage in the market, the Company’s
marketing plans, business plans, customer lists/data, organizational structure, pricing, financial data, budgeting, and reporting.

 

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(ii)              
Acknowledgment of Receipt of Confidential Information. Robb acknowledges that Robb has previously been provided
with, and may, throughout the course of the Advisory Period, be provided with Confidential Information by the Company. Robb acknowledges
that the Company has invested substantial time, money, and effort in developing its Confidential Information, that this Confidential
Information is a valuable, special, and unique asset of the Company, that the Company would sustain great loss if such information
were improperly used or disclosed, and that the protection and maintenance of the Company’s Confidential Information constitute
legitimate interests to be protected by the Company by the covenants set forth in this Section 9.

 

(iii)            
Nondisclosure of Confidential Information. Commencing on the date hereof and at any time thereafter, Robb
will preserve in strictest confidence, and will not disclose, copy, or take away, either directly or indirectly, or use for Robb’s
own benefit or the benefit of any third party, any Confidential Information of the Company or any confidential or proprietary information
or material received by the Company from third parties, whether received by Robb before, on, or after the Resignation Date, except
as required in the ordinary course of Robb’s services for the benefit of the Company. Nothing contained in this Section 9(a)(iii)
shall prohibit protected conduct permitted under Section 9(g).

 

(iv)            
Return of Confidential Information. Subject to Sections 2(e) and 9(g), at the end of the Advisory Period,
Robb agrees to search for and return to the Company all property belonging to the Company, including any documents, records, electronic
data, and tangible items and materials containing or embodying any Company information or Confidential Information, whether such
information was prepared by Robb or by others, and whether such information exists as hard copy or in electronic form on a Company-issued
computer device, a personal computer device, or any other electronic device. All documents, records, computer programs, electronic
data, and tangible items and materials containing or embodying any Confidential Information, including all copies thereof, whether
prepared by Robb or by others, will immediately be returned to the Company upon termination of the Advisory Period for any reason,
or at any time upon the Company’s request. Robb understands and agrees that Robb’s obligation to maintain the confidentiality
of Confidential Information remains even after the Advisory Period ends and continues for so long as such Confidential Information
remains not generally known to the public through no fault or breach of this Agreement by Robb.

 

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(b)              
Noncompetition. During the period commencing on January 1, 2017 and ending on June 30, 2019 (the
“Restricted Period”), Robb shall not, in any geographic region in which any of the Company or its affiliates,
including all parent companies and all wholly or partially owned subsidiaries (collectively, the “Company Group”),
does business, directly or indirectly, (i) perform management level services for, consult with, or sit on the board of directors
(or similar body) of any person or entity engaged in the online food delivery, online grocery, or online prepared meals business
that receives over 50% of its revenue from business in said channels, or (ii) be employed by, consult with, otherwise provide
services to, or sit on the board of directors (or similar body) of any of the entities set forth in the list provided to Robb simultaneously
with the execution of this Agreement.

 

(c)               
Nondisparagement. Robb agrees not to disparage any member of the Company Group, the Board, the Company’s
executives, the Company’s employees, or the Company’s products or services during the Advisory Period and thereafter.
In addition, the Company’s directors and executive officers shall not disparage Robb. For purposes of this Agreement, disparagement
does not include (i) compliance with legal process or subpoenas to the extent that only truthful statements are rendered in
such compliance attempt, (ii) statements in response to an inquiry from a court or regulatory body, or (iii) statements
or comments in rebuttal of media stories or alleged media stories. Nothing contained in this Section 9(c) shall prohibit protected
conduct permitted under Section 9(g).

 

(d)              
Representations. Robb has carefully read and considered the provisions of this Section 9 and agrees that
the restrictions set forth herein, including, but not limited to, the time period and geographic area of the restrictions and the
scope of activities restricted are fair and reasonable and are supported by sufficient and valid consideration, and that these
restrictions do not impose any greater restraint than is necessary to protect the goodwill and other legitimate business interests
of the Company, its officers, directors, shareholders, and other employees. Robb acknowledges that the covenants and agreements
in this Section 9 are ancillary to and a part of an otherwise enforceable agreement entered into at the time these covenants
are made, namely, the agreement concerning provision and confidentiality of Confidential Information. Robb acknowledges that Robb’s
agreement to be bound by the restrictive covenants set forth in this Section 9 is a concurrent and material inducement for
the Company (i) to enter into the ancillary terms of this Agreement, (ii) to continue Robb’s service to the Company,
and (iii) to provide Robb with the promises and consideration set forth in this Agreement. Robb agrees that each ancillary
agreement set forth in this Agreement is otherwise enforceable and independently sufficient to support all of the protective covenants
in this Section 9. Robb acknowledges that these restrictions will not prevent Robb from obtaining gainful employment in Robb’s
occupation or field of expertise or cause Robb undue hardship and that there are numerous other employment and business opportunities
available to Robb that are not affected by these restrictions.

 

(e)               
Reformation. Should an arbitrator or court determine that the scope of any of the covenants contained in this
Section 9 exceed the maximum restrictiveness such arbitrator or court deems reasonable and enforceable, the parties intend
that the arbitrator or court should reform, modify, and enforce the provision to such narrower scope as it determines to be reasonable
and enforceable.

 

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(f)               
Remedies. Robb acknowledges and agrees that: (i) the purpose of the foregoing covenants is to protect
the goodwill and Confidential Information of the Company; and (ii) because of the nature of the business in which the Company
Group is engaged and because of the nature of the Confidential Information to which Robb has access, it would be impractical and
excessively difficult to determine the actual damages of the Company if Robb breached any of the covenants of this Section 9.
Robb acknowledges that the Company would be irreparably injured by a violation of this Section 9 and that it is impossible
to measure in money the damages that will accrue to the Company by reason of a failure by Robb to perform any of Robb’s obligations
under this Section 9. Accordingly, if the Company institutes any action or proceeding to enforce any of the provisions of
this Section 9, to the extent permitted by applicable law, Robb hereby waives the claim or defense that the Company has an
adequate remedy at law or that such covenants are unfair or unreasonable, are not supported by sufficient or valid consideration,
or impose any greater restraint than is necessary to protect the goodwill and other legitimate business interests of the Company,
and Robb shall not urge in any such claim or defense in any such action or proceeding. Furthermore, in addition to other remedies
that may be available (including, without limitation, termination of the Company’s obligation to pay the Advisory Fee), the
Company shall be entitled to specific performance and other injunctive relief. If any of the covenants set forth in this Section 9
is finally held to be invalid, illegal, or unenforceable (whether in whole or in part), such covenant shall be deemed modified
to the extent, but only to the extent, of such invalidity, illegality, or unenforceability and the remaining covenants shall not
be affected thereby.

 

(g)              
Protected Conduct. Nothing contained in this Agreement limits Robb’s ability to file a charge or complaint
with the Equal Employment Opportunity Commission, the National Labor Relations Board, the Occupational Safety and Health Administration,
the Securities and Exchange Commission, or any other federal, state, or local governmental agency or commission (each, a “Government
Agency”). This Agreement does not limit Robb’s ability to communicate with any Government Agency or otherwise participate
in any investigation or proceeding that may be conducted by any Government Agency, including providing documents or other information
to a Government Agency that is confidential information or a trade secret, without advance approval from or notice to the Company.
Robb understands and agrees that any such disclosure of confidential or trade secret information by Robb to a Government Agency
shall comply with and not exceed the limitations of what is considered a protected disclosure under the 2016 Defend Trade
Secrets Act, 18 U.S.C. § 1833(b) (the “DTSA”). Robb acknowledges that Robb may not be held criminally
or civilly liable for a disclosure of a trade secret under state or federal laws, or retaliated against for having made such a
disclosure, so long as the disclosure is limited in accordance with the DTSA. In addition, nothing in this Agreement shall be construed
to prohibit Robb from using Confidential Information to the extent necessary to exercise any legally protected whistleblower rights
(including pursuant to Rule 21F under the Securities Exchange Act of 1934, as amended) or to limit or eliminate Robb’s
right to receive an award from a Government Agency for information provided to a Government Agency. This Section 9(g) shall
not be deemed to authorize or limit liability for an act by Robb that would otherwise be a crime or illegal absent this Agreement.

 

10.             
Code Section 409A.

 

(a)               
The intent of the parties is that payments and benefits under this Agreement comply with, or be exempt from, Section 409A
of the Code and the regulations and guidance promulgated thereunder, and, accordingly, to the maximum extent permitted, this Agreement
shall be interpreted to be in compliance therewith. For purposes of Section 409A of the Code, Robb’s right to receive
any installment payments pursuant to this Agreement shall be treated as a right to receive a series of separate and distinct payments.
In no event may Robb, directly or indirectly, designate the calendar year of any payment to be made under this Agreement that is
considered nonqualified deferred compensation.

 

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(b)              
With regard to any provision herein that provides for reimbursement of costs and expenses or in-kind benefits, except
as permitted by Section 409A of the Code, (i) the right to reimbursement or in-kind benefits shall not be subject to
liquidation or exchange for another benefit, (ii) the amount of expenses eligible for reimbursement, or in-kind benefits,
provided during any taxable year shall not affect the expenses eligible for reimbursement, or in-kind benefits to be provided,
in any other taxable year, and (iii) such payments, if not reimbursed sooner, shall be made on or before the last day of Robb’s
taxable year following the taxable year in which the expense was incurred.

 

(c)               
In the event that Robb is a “specified employee” within the meaning of Section 409A of the Code
(as determined in accordance with the methodology established by the Company on the Resignation Date) and there are payments made
under this Agreement that are subject to Section 409A of the Code, then any such payments or benefits that would otherwise
be payable during the six-month period immediately following the Resignation Date will be paid, with interest (as defined in the
Plan Agreement), on the first business day after the date that is six months following Robb’s Resignation Date.

 

(d)              
In the event that the Company determines that a provision of this Agreement does not comply with Section 409A
of the Code, the Company may modify this Agreement, in the least restrictive manner necessary and without diminution in the value
of the payments to Robb, in order to cause the provisions of this Agreement to comply with the requirements of Section 409A
of the Code, so as to avoid the imposition of taxes and penalties on Robb pursuant to Section 409A of the Code. Changes in
the form or timing of payments under this Agreement shall not be allowed. This Agreement is intended to comply with Section 409A
of the Code to the extent subject thereto, and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted
and administered to be in compliance therewith. Any payments described in this Agreement that are due within the “short-term
deferral period” or subject to a “separation pay plan” as defined in Section 409A of the Code shall not
be treated as deferred compensation unless applicable laws require otherwise.

 

11.             
Reimbursement of Legal Fees. The Company shall reimburse Robb for the reasonable legal and tax accounting
fees and expenses incurred by Robb in connection with Robb’s evaluation and negotiation of the terms of his separation, including
this Agreement and the amendment to the Plan Agreement, subject to a maximum aggregate reimbursement of $27,500.

 

12.             
Miscellaneous.

 

(a)               
Successors and Assigns. This Agreement shall be binding upon, inure to the benefit of and be enforceable by,
as applicable, the Company and Robb and their respective personal or legal representatives, executors, administrators, successors,
assigns, heirs, distributees, and legatees. This Agreement is assignable by the Company and will automatically inure to the benefit
of the Company’s successors and assigns without the need for any further approval or action by Robb; provided that,
in the event of an assignment by the Company, it shall remain responsible for performance of the obligations of the Company hereunder.
Robb’s obligations under this Agreement are personal in nature and therefore, Robb shall not, without the written consent
of the Company, assign, transfer, or delegate this Agreement or any rights or obligations hereunder.

 

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(b)              
Governing Law; Jurisdiction; Venue. This Agreement is made in the State of Texas and is performable in the
State of Texas. This Agreement shall be governed by and construed in accordance with the laws of the State of Texas without giving
effect to laws and principles regarding the conflict of laws of such state or any other state. The Company and Robb (i) agree
that any suit, action, or legal proceeding arising from or related to this Agreement shall be brought in the courts of record of
the State of Texas in Travis County or the court of the United States, Western District of Texas; (ii) consent to the jurisdiction
of each such court in any suit, action, or proceeding; and (iii) waive any objection that they may have to the laying of venue
of any such suit, action, or proceeding in any of such courts. Service of process on the Company shall be valid through its registered
agent for purposes of service of process, and service of legal process on Robb shall be valid through use of United States Postal
Service, first class mail, certified receipt requested, or by the use of a nationally recognized package delivery service that
provides a reasonable method for confirmation of deliver (such as signature upon receipt) directed to Robb at the address (or addresses)
for Robb provided below.

 

(c)               
Amendment; Entire Agreement. No provision of this Agreement may be amended, modified, waived, or discharged
unless such amendment, modification, waiver, or discharge is agreed to in writing and such writing is signed by the Company and
Robb. From and after the date hereof, this Agreement (together with the Plan Agreement, as amended, and the list referenced in
Section 9(b)) shall supersede any other agreement between the parties with respect to the subject matter hereof.

 

(d)              
Notice. All notices and other communications hereunder shall be in writing and shall be given by hand delivery
to the other party or by registered or certified mail, return receipt requested, postage prepaid, addressed as follows:

 

if to Robb:

 

At the address most recently on the books and records of the Company.

 

if to the Company:

 

Whole Foods Market, Inc.

550 Bowie Street

Austin, Texas 78703

Attention: Global Vice President/General Counsel

 

or to such other address as either party shall have furnished to the other in writing
in accordance herewith. Notice and communications shall be effective when actually received by the addressee.

 

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(e)               
Headings. The headings of this Agreement are for reference purposes only and shall not affect in any way the
meaning or interpretation of this Agreement.

 

(f)               
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an
original but all of which together shall constitute one and the same instrument.

 

[Signature Page Follows]

 

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IN WITNESS WHEREOF, the parties have caused this Agreement to be
duly executed and delivered as of the date first above written.

 

WHOLE FOODS MARKET, INC.

By:  ___________________________

Name:

Title:

 

_______________________________

Walter E. Robb, IV

 

 

 

 

 

 

 

 

 

 

 

[Signature Page to Separation, Advisory, and Noncompetition Agreement]

    	 	- 11 - 	 

     

    

IN WITNESS WHEREOF, the parties have caused this Agreement to be
duly executed and delivered as of the date first above written.

 

WHOLE FOODS MARKET, INC.

By: ___________________________

Name: Dr. John B. Elstrott

Title: Chairman of the Board

 

 

 

 

 

 

 

 

 

 

 

 

 

[Signature Page to Separation, Advisory, and Noncompetition Agreement]EXHIBIT 10.2

 

Amendment to the

Whole Foods Executive Retention Plan and

Non-Compete Arrangement Agreement

 

This Amendment (this “Amendment”) is made and
entered into as of November 2, 2016, by and between Whole Foods Market Services, Inc., a Delaware corporation (the “Employer”),
and Walter E. Robb, IV (the “Covered Executive”).

 

WHEREAS, the Employer and the Covered Executive have entered into
the Whole Foods Executive Retention Plan and Non-Compete Arrangement Agreement, dated as of May 16, 2012 (the “Plan
Agreement”);

 

WHEREAS, simultaneously herewith, Whole Foods Market, Inc., a Texas
corporation (the “Company”), and the Covered Executive are entering into a Separation, Consulting, and Noncompetition
Agreement pursuant to which the Covered Executive shall, among other things, resign as Co-Chief Executive Officer of the Company,
effective as of December 31, 2016 (the “Resignation”); and

 

WHEREAS, in connection with the Resignation, the Employer and the
Covered Executive desire to amend the Plan Agreement as set forth herein.

 

NOW, THEREFORE, pursuant to Section 7 of the Plan Agreement,
the Plan Agreement is hereby amended as follows:

 

		1.	Notwithstanding Section 2(b)(i) of the Plan Agreement, the Covered Executive’s ownership and operation of a single
retail food store or coffee shop with his immediate family members that neither (a) exceeds 20,000 square feet in retail
space nor (b) is located within three miles of an existing Whole Foods Market or 365 store shall not constitute a breach of
Section 2(b)(i) of the Plan Agreement.

 

		2.	Except as expressly amended by this Amendment, all terms and conditions of the Plan Agreement shall remain in full force and
effect. This Amendment shall be governed by and construed and enforced in accordance with the laws of the State of Texas, without
giving effect to the principles of conflicts of laws. This Amendment may be executed in one or more counterparts, each of which
shall be deemed an original, and all of which taken together shall constitute one and the same instrument.

 

[Signature Page Follows]

 

     

     

    

IN WITNESS WHEREOF, the parties hereto have executed this Amendment
as of the date first written above.

 

WHOLE FOODS MARKET SERVICES, INC.

 

 

 

By: ________________________________

Name:

Title:

 

 

 

__________________________________

Walter E. Robb, IV

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Amendment
as of the date first written above.

 

WHOLE FOODS MARKET, INC., as Plan Administrator

 

 

 

By: ________________________________

Name: Dr. John B. Elstrott

Title: Chairman of the Board of Directors

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00263-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00263-of-00352.parquet"}]]