Document:

Form of Post-Termination Agreement

 EXHIBIT 10(f) 
 This
                                        
is entered into this      day of              by and between Wal-Mart Stores, Inc. (hereinafter “Wal-Mart”) and
                                        
(hereinafter “the Associate”). The parties agree as follows: 
 1. ACKNOWLEDGMENTS. As part of this Agreement,
the parties specifically acknowledge that 
 (A) Wal-Mart is a major retail operation, with stores located throughout the United
States and in certain foreign locations; 
 (B) the Associate presently holds a position as
                                     of Wal-Mart and is a key
executive as defined by the Executive Committee; 
 (C) as an essential part of its business, Wal-Mart has cultivated long term
customer and vendor relationships and goodwill, which are difficult to develop and maintain, which require a significant investment of time, effort, and expense, and which can suffer significantly upon the departure of key executives; 
 (D) in the development of its business, Wal-Mart has also expended a significant amount of time, money, and effort in developing and
maintaining confidential, proprietary, and trade secret information which, if disclosed or misused, could harm Wal-Mart’s business and its competitive position in the retail marketplace; 
 (E) as
                                        ,
the Associate has access to confidential and proprietary trade secret information and other confidential information, including business plans and strategies, that would be of considerable value to Wal-Mart’s competitors; and 
 (F) Wal-Mart is entitled to take appropriate steps to ensure (i) that its Associates do not make use of confidential information gained
during the course of their employment with Wal-Mart and (ii) that no individual associate or competing entity gains an unfair competitive advantage over Wal-Mart. 
 2. TRANSITION PAYMENTS. In the event that Wal-Mart should initiate the termination of the Associate’s employment, Wal-Mart will, for a period of two (2) years from the effective date of
such termination (“the Transition Period”), continue to pay the Associate his or her base salary at the rate in effect on the date of termination, subject to such withholding as may be required by law and subject to the following
conditions and offsets: 
 (A) Transition Payments will not be payable if the Associate is terminated as the result of a
violation of Wal-Mart policy; 
 (B) In the event that the Associate is demoted or reassigned so that he or she ceases to be a
key executive as defined or determined by the Executive Committee, the Associate will no longer be bound by the Covenant Not to Compete set forth in Paragraph 3 below and will cease to be eligible for any of the benefits or payments (e.g.,
Transition Payments) provided by this Agreement. In addition, it is understood that, upon ceasing to be a key executive, the Associate would forfeit the stock options granted by this Agreement, but only to the extent that those options have not
vested as of the date of demotion or reassignment. 
 (C) No Transition Payments will be payable if the Associate voluntarily
resigns or retires from his or her employment with Wal-Mart; 
 (D) Given the availability of other programs designed to provide
financial protection in such circumstances, Transition Payments will not be payable under this Agreement in the event of the Associate’s death or disability. If the Associate should die during the Transition Period, Transition Payments will
cease at that time, and his or her heirs will have no entitlement to the continuation of such payments. Transition Payments will not be affected by the disability of the Associate during the Transition Period. 
 (E) Transition Payments will be offset by any amounts that the Associate may earn during the Transition Period by virtue of self-employment
or employment with, or involvement in, an entity other than a Competing Business as defined in Paragraph 3(B) below. Violation by the Associate of his obligations

 
under Paragraph 3 or Paragraph 4 below, or any other act that is materially harmful to Wal-Mart’s business interests, during the Transition Period will result in the immediate termination of
Transition Payments in addition to any other remedies that may be available to Wal-Mart; 
 (F) Transition Payments will be
payable on such regularly scheduled paydays as may be adopted and instituted by Wal-Mart for its other salaried employees. 
 (G) Receipt of Transition Payments will not entitle the Associate to participate during the Transition Period in any of the other incentive, stock option, profit sharing, or other associate benefit plans or programs maintained by Wal-Mart,
and the Associate shall be entitled to participate in such plans or programs only to the extent that the terms of the plan or program provide for participation by former associates. Such participation, if any, shall be governed by the terms of the
applicable plan or program. 
 3. COVENANT NOT TO COMPETE. In exchange for
                                        ,
for his or her inclusion in the Transition Payment program set forth in Paragraph 2, and for other good and valuable consideration, the Associate agrees, promises, and covenants as follows: 
 (A) For a period of two (2) years from the date on which his or her employment with Wal-Mart terminates, and regardless of the cause or
reason for such termination, the Associate will not directly or indirectly 
 (i) own, manage, operate, finance, join, control,
advise, consult, render services to, have a current or future interest in, or participate in the ownership, management, operation, financing, or control of, or be employed by or connected in any manner with, any Competing Business as defined below
in Paragraph 3(B); or 
 (ii) solicit for employment, hire or offer employment to, or otherwise aid or assist any person or
entity other than Wal-Mart in soliciting for employment, hiring, or offering employment to, any employee of Wal-Mart or any of its affiliates; 
 (B) For purposes of this Agreement, the term “Competing Business” shall include any general or specialty retail, wholesale, or merchandising business that sells goods or merchandise of the types
sold by Wal-Mart at retail to consumers that (i) is located within the United States or any other country in which Wal-Mart or its affiliates either operate a store or are known to the Associate to have plans to open or acquire an operation
within the next twenty-four (24) months, and (ii) that has gross annual sales volume or revenues attributable to its retail operations in excess of U.S. $2 billion or is reasonably expected to have gross sales volume or revenues of more
than U.S. $2 billion in either the current fiscal year or the next following fiscal year. “Competing Business” as of the date of this Agreement shall specifically include, but is not limited to, such entities as Target/Dayton Hudson,
Costco, K-Mart, Home Depot, Dollar General, Family Dollar, Kohls, Hudson Bay Company, Carrefour, HEB, and Fred Meyers. 
 (C)
Ownership of an investment of less than the greater of $25,000 or 1% of any class of equity or debt security of a Competing Business will not be deemed ownership or participation in ownership of a Competing Business for purposes of this Agreement.

 (D) The covenant not to compete contained in this Paragraph 3 shall be binding upon the Associate, and shall remain in full
force and effect, regardless of whether the Associate qualifies, or continues to remain eligible, for the Transition Payments described in Paragraph 2 above. Termination of the Transition Payments pursuant to Paragraph 2 will not release the
Associate from his or her obligations under this Paragraph 3. 
 4. PRESERVATION OF CONFIDENTIAL INFORMATION. The
Associate agrees that he or she will not at any time, directly or indirectly, use or disclose any Confidential Information obtained during the course of his or her employment with Wal-Mart except as may be authorized by Wal-Mart. “Confidential
Information” shall include any non-public information pertaining to Wal-Mart’s business, and shall include information obtained by the Associate during the course of, or as a result of, his or her employment with Wal-Mart, including,
without limitation, information regarding Wal-Mart’s processes, suppliers (including the terms, conditions, or other business arrangements with such suppliers), advertising

 
and marketing plans and strategies, profit margins, seasonal plans, goals, objectives and projections, compilations, analyses, and projections regarding Wal-Mart’s business, trade secrets,
salary, staffing, compensation, and other employment data, and any “know-how,” techniques, practice or any technical information not of a published nature regarding Wal-Mart’s business. 
 5. REMEDIES FOR BREACH. The parties shall each be entitled to pursue all legal and equitable rights and remedies to secure
performance of their respective obligations and duties under this Agreement, and enforcement of one or more of these rights and remedies will not preclude the parties from pursuing any other rights and remedies. The Associate acknowledges that a
breach of the provisions of Paragraph 3 or Paragraph 4 above could result in substantial and irreparable damage to Wal-Mart’s business, and that the restrictions contained in Paragraphs 3 and 4 are a reasonable attempt by Wal-Mart to protect
its rights and to safeguard its confidential information. The Associate expressly agrees that upon a breach or a threatened breach by the Associate of the provisions of Paragraph 3 or Paragraph 4, Wal-Mart will be entitled to injunctive relief to
restrain such violation, and the Associate hereby expressly consents to the entry of such temporary, preliminary, and/or permanent injunctive relief as may be necessary to enjoin the violation of Paragraph 3 or Paragraph 4. The parties further agree
that any action relating to the interpretation, validity, or enforcement of this Agreement shall be brought in the appropriate state or federal court encompassing Benton County, Arkansas, and the parties hereby expressly consent to the jurisdiction
of such courts. The Associate further agrees that in any claim or action involving the execution, interpretation, validity, or enforcement of this Agreement, he or she will seek satisfaction exclusively from the assets of Wal-Mart, and will hold
harmless all of Wal-Mart’s individual directors, officers, employees, and representatives. 
 6. SEVERABILITY. In
the event that a court of competent jurisdiction shall determine that any portion of this Agreement is invalid or otherwise unenforceable, the parties agree that the remaining portions of the Agreement shall remain in full force and effect. The
parties also expressly agree that if any portion of the covenant not to compete set forth in Paragraph 3 shall be deemed unenforceable, then the Agreement shall automatically be deemed to have been amended to incorporate such terms as will render
the covenant enforceable to the maximum extent permitted by law. 
 7. NATURE OF THE RELATIONSHIP. Nothing contained in
this Agreement shall be deemed or construed to constitute a contract of employment for a definite term. The parties acknowledge that the Associate is not employed by Wal-Mart for a definite term, and that either party may sever the employment
relationship at any time and for any reason not otherwise prohibited by law. 
 8. ENTIRE AGREEMENT. This document
contains the entire understanding and agreement between the Associate and Wal-Mart regarding the subject matter of this Agreement. This Agreement supersedes and replaces any and all prior understandings or agreements between the parties regarding
this subject, and no representations or statements by either party shall be deemed binding unless contained herein. 
 9.
MODIFICATION. This Agreement may not be amended, modified, or altered except in a writing signed by both parties or their designated representatives. 
 10. SUCCESSORS AND ASSIGNS. This Agreement will inure to the benefit of, and will be binding upon, Wal-Mart, its successors and assigns, and on the Associate and his or her heirs, successors, and
assigns. No rights or obligations under this Agreement may be assigned to any other person without the express written consent of all parties hereto. 
 11. COUNTERPARTS. This Agreement may be executed in counterparts, in which case each of the two counterparts will be deemed to be an original and the final counterpart will be deemed to have been
executed in Bentonville, Arkansas. 
 12. GOVERNING LAW. This Agreement shall be governed by, and construed in accordance
with, the laws of the State of Arkansas. 
 13. STATEMENT OF UNDERSTANDING. By signing below, the Associate acknowledges
(a) that he or she has received a copy of this Agreement, (b) that he or she has read the Agreement carefully

 
before signing it, (c) that he or she has had ample opportunity to ask questions concerning the Agreement and has had the opportunity to discuss the Agreement with legal counsel of his or
her own choosing, and (d) that he or she understands his or her rights and obligations under this Agreement, and enters into this Agreement voluntarily. 
  

									
	WAL-MART STORES, INC.	 		 		 	
				
	By:	 	  
	 		 	  

				
		 	  
	 		 	  

		 	    Date	 		 	    Date

 SCHEDULE TO EXHIBIT 
 This Schedule of Executive Officers Who Have Executed a 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(f). 
  

					
	 Executive Officer
	 	 Date of Agreement
	 	 Provision For Equity Award at Time
 of Execution of Agreement

	 Michael T. Duke
	 	May 6, 1998	 	Option Equal to 100% of Base Salary
	 Thomas D. Hyde
	 	July 14, 2001	 	Restricted Stock Grant of 65,455 shares
	 Thomas M. Schoewe
	 	January 31, 2000	 	N/AForm of Stock Incentive Plan - Performance Share Award

 EXHIBIT 10(j) 
  

			
	 Name of Grantee:
	 	
	 Grant Date:
	 	
	 Number of Shares:
	 	
	 Social Security Number:
	 	
	 Performance Period:
	 	
	 Vesting Date:
	 	

 WAL-MART STORES, INC. 
 STOCK INCENTIVE PLAN OF 2005 
 PERFORMANCE SHARE
AWARD 
 NOTIFICATION OF AWARD AND TERMS AND CONDITIONS OF AWARD 
 This Performance Share Award Agreement (the “Agreement”) contains the terms and conditions of the Performance Share Award granted to you by
Wal-Mart Stores, Inc. (“Walmart”), a Delaware corporation, under the Wal-Mart Stores, Inc. Stock Incentive Plan of 2005. 
 1.
Grant of Performance Share Award. Walmart has granted to you, effective on the Grant Date (shown above), the right to receive the Fair Market Value of the number of Shares shown above (or such greater or smaller number of Shares as determined
in accordance with Paragraph 6) as of the Vesting Date (as defined below). Such Fair Market Value shall be paid as soon as administratively feasible after the later of the Vesting Date or the Committee’s determination of whether, and the extent
to which, the performance goals described in Paragraph 6 have been satisfied. The form of payment shall be Shares. 
 2. Stock Incentive Plan
Governs. The award and this Agreement are subject to the terms and conditions of the Wal-Mart Stores, Inc. Stock Incentive Plan of 2005, as amended from time to time (the “Plan”). The Plan is incorporated in this Agreement by reference
and all capitalized terms used in this Agreement have the meaning set forth in the Plan, unless this Agreement specifies a different meaning. By signing this Notification, you accept this award, acknowledge receipt of a copy of the Plan and the
prospectus covering the Plan and acknowledge that the award is subject to all the terms and provisions of the Plan and this Agreement. You further agree to accept as binding, conclusive and final all decisions and interpretations by the Committee of
the Plan upon any questions arising under the Plan, including whether, and the extent to which, the performance goals described in Paragraph 6 have been satisfied. 
 3. Subject to Shareholder Approval. To the extent you are a “covered employee” within the meaning of Code Section 162(m), the award and this Agreement are subject to, and conditioned
upon, shareholder approval of the material terms of the performance goals stated in Paragraph 6 below. 
 4. Payment. You are not
required to pay for this Performance Share Award. 

 5. Stockholder Rights. Until your Performance Share Award vests and, if applicable, Shares have been
delivered to you: 
 A. You do not have the right to vote your Performance Share Award; and 
 B. You will not receive, or be entitled to receive, cash or non-cash dividends on your Performance Share Award. 
 6. Vesting of Performance Share Award. 
 A. Vesting. On the Vesting Date set forth above, you shall become vested in a number of Shares determined by multiplying the total number of Shares subject to your Performance Share Award (as shown
above) by a percentage based on performance goals established by the Committee for the Performance Period, provided you have not incurred a Forfeiture Condition described below. You will, by separate writing incorporated into this notice, be
notified of the applicable percentages and performance goals for the Performance Period. 
 B. Forfeiture Conditions.
Subject to Paragraph 6C below, your Performance Share Award that would otherwise vest in whole or in part on the Vesting Date will not vest and shall be immediately forfeited if, prior to the Vesting Date: 
 1. your Continuous Status as an Associate terminates for any reason (other than your death or Disability, to the extent provided in
Paragraph 6C below); or 
 2. you (a) have become or (b) are discussing or negotiating the possibility of becoming, or
(c) are considering an offer to become, or have accepted an offer or entered into an agreement to become an employee, officer, director, partner, manager, consultant to, or agent of, or otherwise becoming affiliated with, any entity competing
or seeking to compete with Walmart or an Affiliate; or 
 3. you are subject to an administrative suspension, unless you are
reinstated as an Associate in good standing at the end of the administrative suspension period, in which case your Performance Share Award would vest (as provided in Paragraph 6A) as of the date of such reinstatement; or 
 4. you have not executed and delivered to the Company a Non-Disclosure and Restricted Use Agreement, in a form to be provided to you by the
Company. 
 C. Accelerated Vesting; Vesting Notwithstanding Termination. Your Performance Share Award will vest earlier
than described in Paragraph 6A under the following circumstances: 
 1. If your Continuous Status as an Associate is terminated
by your Disability, you will become vested in a number of Shares equal to the

  

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number of Shares that would have become vested under Paragraph 6A had your Continuous Status as an Associate continued through the Vesting Date described in Paragraph 6A, prorated based upon the
number of full calendar months during the Performance Period (as shown above) in which you had Continuous Status as an Associate. “Disability” for this purpose means you have a physical or mental condition resulting from bodily injury,
disease or mental disorder that constitutes total disability under the Federal Social Security Act and for which you have actually been approved for Social Security disability benefits. 
 2. If your Continuous Status as an Associate is terminated by your death on or after ten years of service, you will become vested in a
number of Shares equal to the number of Shares that would have become vested under Paragraph 6A had your Continuous Status as an Associate continued through the Vesting Date described in Paragraph 6A. If your Continuous Status as an Associate is
terminated by your death before you have completed ten years of service, you will become vested in a number of Shares equal to the number of Shares that would have become vested under Paragraph 6A had your Continuous Status as an Associate continued
through the Vesting Date described in Paragraph 6A, prorated based upon the number of full calendar months during the Performance Period (as shown above) in which you had Continuous Status as an Associate. 
 In the event of accelerated vesting under this Paragraph 6C, the Fair Market Value of vested Shares, as determined above, shall be paid as soon as
administratively feasible after the later of the Vesting Date or the Committee’s determination of whether, and the extent to which, the performance goals described in Paragraph 6 have been satisfied. Payment shall be made in the form of Shares.

 7. Taxes and Tax Withholding. 
 A. You will have taxable income in the amount of the Fair Market Value of any Shares paid to you under this Agreement. 
 B. You must remit, on or prior to the due date thereof, the minimum amount necessary to satisfy all of the federal, state and local withholding (including FICA) tax requirements imposed on Walmart (or the
Affiliate that employs you) relating to this Agreement. The Committee may require you to satisfy these minimum withholding tax obligations by any (or a combination) of the following means: (i) a cash payment; (ii) withholding from
compensation otherwise payable to you; (iii) authorizing Walmart to withhold from the Shares otherwise deliverable to you under this Agreement as a result of the vesting of the Performance Share Award, if any, a number of Shares having a Fair
Market Value, as of the date the withholding tax obligation arises, less than or equal to the amount of the withholding obligation; or (iv) authorizing Walmart to withhold from cash otherwise deliverable to you under this Agreement as a result
of the vesting of the Performance Share Award, if any, any amount less than or equal to the amount of the withholding obligation. 
  

 3 

 8. Performance Share Award Not Transferable. Neither a Performance Share Award, nor your interest in
a Performance Share Award, may be sold, conveyed, assigned, transferred, pledged or otherwise disposed of or encumbered at any time. Any attempted action in violation of this paragraph shall be null, void, and without effect. 
 9. Other Provisions. 
 A.
The value of the Performance Share Award will not be taken into account in computing the amount of your salary or other compensation for purposes of determining any pension, retirement, death or other benefit under any employee benefit plan of
Walmart or any Affiliate, except to the extent such plan or another agreement between you and Walmart specifically provides otherwise. 
 B. Determinations regarding this Agreement (including, but not limited to, whether, and the extent to which, the performance goals described in Paragraph 6 have been satisfied, and whether an event has occurred resulting in the forfeiture
of or vesting of a Performance Share Award) shall be made by the Committee in accordance with this Agreement, and all determinations of the Committee shall be final and conclusive and binding on all persons. 
 C. Neither this Agreement nor the Plan creates any contract of employment, and nothing in this Agreement or the Plan shall interfere with or
limit in any way the right of Walmart or an Affiliate to terminate your employment or service at any time, nor confer upon you the right to continue in the employ of Walmart and/or Affiliate. Nothing in this Agreement or the Plan creates any
fiduciary or other duty to you owed by Walmart, any Affiliate, or any member of the Committee except as expressly stated in this Agreement or the Plan. 
 D. Walmart reserves the right to amend the Plan at any time. The Committee reserves the right to amend this Agreement at any time. 
 E. By accepting this award Agreement, you agree to provide any information reasonably requested from time to time. 
 F. You acknowledge that you are not relying, and will not rely, on Walmart for any tax advice. 
 G. This Agreement shall be construed under the laws of the State of Delaware. 
  

 4 

 Grantee: 
 I acknowledge having received, read and understood the Plan and this Agreement. I accept the terms and conditions of my Performance Share Award as set forth in this Agreement, subject to the terms and conditions of the Plan 
 By:                                       
                                  
 Name (please
print):                                        
 
 Agreed to and accepted this      day of
                    , 200    . 
  

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