Document:

Offer Letter

 Exhibit 10.14 
 

 
 September 9, 2011 
 To: Michael Fox 
 Dear Michael, 
 Congratulations! I am pleased to extend to you our offer to join Orchard Supply Hardware (“Orchard” or “Company”) as Senior Vice President - General Counsel. This letter serves as
confirmation of our offer. Some key elements of the offer are as follows: 
  

	 	•	 	 Your start date will be October 3, 2011. 

  

	 	•	 	 Base salary at an annual rate of $280,000, paid bi-weekly and in arrears, with periodic increases based on your performance.

  

	 	•	 	 In addition to your base salary, you will receive a sign-on bonus of $50,000 (net of applicable taxes). This will be payable within thirty
(30) days following your start date. In the event you voluntarily terminate your employment with the Company or are terminated by the Company for misconduct or integrity issues within twenty four (24) months of your start date, you will be
required to repay this amount to the Company according to the following (a) if such termination occurs within the first twelve (12) months of your employment, you will be required to repay 100% of the money and (b) if such termination
occurs after the twelfth (12th) month and before the twenty-fifth (25th) month of employment, you will be required to repay 50% of the total to the Company. Repayment is due within thirty (30) days of your last day worked.

  

	 	•	 	 One way we reward great company and individual performance is through our annual incentive plan. You will be eligible for an annual target incentive
opportunity of 50% of your base salary. Your award for fiscal year 2011 will be prorated based on your start date. Any incentive payable with respect to a fiscal year will be paid by April 15 of the following fiscal year, provided that you are
actively employed on the payment date. 

  

	 	•	 	 The Company shall recommend to the committee that administers the Company’s stock incentive plan that you be granted, as soon as approved by the
committee after your start date, three (3) separate grants of options to purchase a total of 8017 shares of the Company’s Class B common stock, subject to the terms of a Stock Option Agreement to be entered into between you and the
Company. 

  

	 	•	 	 We also understand how important it is to get away from work from time to time, so you are eligible to receive twenty-four (24) days of paid
vacation, which will be prorated this year based on your actual start date. 

 

 
  

	 	•	 	 During the course of your employment, you will be entitled to participate in a variety of benefits available to salaried associates, including medical,
dental and long-term disability. Your benefits coverage will begin on your first day of employment provided you enroll within your eligibility period. You will also be eligible to begin participation in the 401(k) savings plan on the first day of
the third month following your date of hire. The Company expects to continue its benefit programs, but reserves the right to modify, amend or terminate any or all of the benefit programs at any time. 

 

	 	•	 	 You will be required to sign an Executive Severance Agreement. If your employment with Orchard is terminated by Orchard (other than for cause, death or
total and permanent disability) or by you for Good Reason (as such capitalized terms are defined in the Executive Service Agreement), you will receive six (6) months of pay continuation equal to your base salary at time of termination, subject
to mitigation. Under the Executive Severance Agreement, you agree, among other things, not to solicit employees for a period of six (6) months of your termination and not to disclose confidential information. The non-solicitation and
non-disclosure provisions apply regardless of whether you are eligible for severance benefits under this agreement, and the terms of this offer letter are conditioned upon your signing this agreement. 

This offer is made to you based on your representation to the Company that your acceptance of employment with the Company and your performing the
contemplated services does not and will not conflict with or result in any breach of default under any agreement, contract or arrangement which you are a party to or violate any other legal restriction. 

This offer is also contingent upon satisfactory completion of a background check, a drug test (to be taken within 48 hours from the time the drug test is
scheduled) and employment verification. On your first day of work, you must present documentation to establish your identity and employment eligibility to work in the United States. This documentation will be used to complete the legally required
I-9 for the United States Citizenship and Immigration Services. 
 Michael, we are looking forward to you joining our team. I am confident that
you will make an important contribution to the success of Orchard Supply Hardware. Please confirm your acceptance of this offer by signing and returning this offer letter no later than September 16, 2011 to Dave Bogage in PDF format via email
at dave.bogage@osh.com or via confidential fax at (408) 361-3007. If you need additional information or clarification, please call. 

Sincerely, 
 Dave Bogage 

SVP, Human Resources 
 Orchard Supply Hardware

  

									
	Accepted	 	/s/ Michael Fox	 		 		 	Date 9/10/11
		 	Michael FoxOffer Letter

 Exhibit 10.15 
 

 
 November 7, 2011 
 Mr. Chris Newman 
 c/o Orchard Supply Hardware Stores 

Corporation 6450 Via Del Oro 
 San Jose, CA 95119

 Dear Chris: 
 Thank you for
agreeing to serve as an at-will “seasonal” employee of Orchard Supply Hardware LLC (the “Company”) and as the Interim Chief Financial Officer (“CFO”) and principal accounting officer for the Company’s parent entity
Orchard Supply Hardware Stores Corporation (“Parent”) and its subsidiaries for the period starting November 7, 2011 and ending on your scheduled last day of employment with the Company which will be January 31, 2012. As an
at-will employee, either you or the Company may terminate the employment relationship at any time prior to January 31, 2012 upon written notice to the other party. 
 During your employment, your salary will be based on a $585,000.00 annual rate. Provided you do not voluntarily resign your employment before January 31, 2012, and are not terminated for
“Cause,” the Company will also pay you a one-time bonus (“Retention Bonus”) of $63,300.00 on February 1, 2012. If your employment terminates before January 31, 2012 for any reason other than your voluntary resignation
or your termination for “Cause”, then you will still be paid the full Retention Bonus on February 1, 2012. For purposes of the agreement, “Cause” means (i) a material breach by you of your duties and responsibilities
which breach is demonstrably willful and deliberate on your part, is committed in bad faith or without reasonable belief that such breach is in the best interests of the Parent and its subsidiaries and is not remedied in a reasonable period of time
after receipt of notice from the Company specifying such breach, (ii) the commission by you of a felony involving moral turpitude, or (iii) dishonesty or willful misconduct in connection with your employment. 

The Parent is providing you with an Indemnification Agreement, in the form of agreement previously provided to you and currently in place with its
directors. The Indemnification Agreement is being provided to you for execution concurrently with this letter agreement. 
 In addition to the
salary referenced above, the Company will promptly reimburse you, subject to the Company’s travel and entertainment policy, for your expenses related to your temporary living and related expenses while you are working at the Company. The
Company will also reimburse or advance you for any other business related expenses. 

 
Mr. Chris Newman 
 November 7, 2011 

Page 2 
 While you will be a Company employee,
as a “seasonal” employee you are not (and will not be) eligible for participation in the Company’s (or Parent’s) group medical benefits plan. However, this letter agreement does not otherwise preclude, limit or supersede any of
the benefits you will be entitled to as a “seasonal” employee of the Company. 
 This letter agreement hereby terminates and entirely
supersedes and replaces the Consulting Agreement dated October 19, 2011 between the Company and you although you will still be entitled to full and timely payment for your services provided (and expenses incurred) through November 6, 2011
under such Consulting Agreement. If the above is satisfactory to you, please sign below and return both executed agreements to me. Copies have been included for your records. 
 Sincerely, 
 /s/ Dave Bogage 
 Dave Bogage 
 Senior Vice President, Human Resources 

 

			
	AGREED TO AND ACCEPTED:
		
	/s/ Chris Newman	 	  
		
	CHRIS NEWMAN	 	November 7, 2011Severance Agreement

 Exhibit 10.18 
 EXECUTIVE SEVERANCE AGREEMENT 
 By this Executive Severance Agreement dated
and effective as of 11-3, 2011 (“Agreement”), Orchard Supply Hardware Stores Corporation and its parents, affiliates and subsidiaries (“OSH” or the “Company”) and Steven Mahurin (“Executive”), intending
to be legally bound, and for good and valuable consideration, agree as follows: 
 1. Effect of Severance. 

(a) Severance Benefits. If Executive is involuntarily terminated without “Cause” or Executive voluntarily
terminates Executive’s employment for “Good Reason” (as such terms are defined in Section 2 below), Executive shall be entitled to the benefits described in subsection (i), (ii) and (iii) below (collectively referred to
herein as “Severance Benefits”). Executive shall not be entitled to the Severance Benefits if Executive’s employment terminates for any other reason, including due to death or “Disability” (as defined in Section 2
below). Executive shall also not be entitled to Severance Benefits if Executive does not meet all of the other requirements under this Agreement, including under subsection 4(e). 

i. Continuation of Salary. 

1. OSH or the appropriate “OSH Affiliate” (as defined in Section 2 below) shall pay Executive cash
severance equal to Executive’s annual base salary rate as of the date Executive’s employment terminates (“Date of Termination”). Subject to subsection (a)(i)(2) below, payment of such amount (“Salary Continuation”)
shall commence on Executive’s “Separation from Service” (as defined in Section 2 below) and shall be paid in substantially equal installments on each regular salary payroll date for a period of six (6) months following Date
of Termination (“Salary Continuation Period”), except as otherwise provided in this Agreement. 

Notwithstanding the foregoing, the OSH or OSH Affiliate obligations under this subsection (a)(i)(l) shall be reduced on a
dollar-for-dollar basis (but not below zero), by the amount, if any, of fees, salary or wages that Executive earns from a subsequent employer (including those arising from self-employment) during the Salary Continuation Period. For avoidance of
doubt, Executive shall not be obligated to seek affirmatively or accept an employment, contractor, consulting or other arrangement in order to mitigate Salary Continuation. Further, to the extent Executive does not execute and timely submit the
General Release and Waiver (in accordance with subsection 4(e) below) by the deadline specified therein, Salary Continuation payments shall terminate and forever lapse, and Executive shall be required to reimburse OSH for any portion of the Salary
Continuation paid during the Salary Continuation Period. 
 2. Notwithstanding anything in this subsection
(a)(i) to the contrary, if the Salary Continuation payable to Executive in accordance with subsection (a)(i)(l) above during the six (6) months after Executive’s Separation from Service would exceed the “Section 409A

 
Threshold” and if as of the date of the Separation from Service Executive is a “Specified Employee” (as such terms are defined in Section 2 below), then, payment shall be made
to Executive on each regular salary payroll date during the six (6) months of the Salary Continuation Period until the aggregate amount received equals the Section 409A Threshold. Any portion of the Salary Continuation in excess of the
Section 409A Threshold that would otherwise be paid during such [first] six (6) months or any portion of the Salary Continuation that is otherwise subject to Section 409A, shall instead be paid to Executive in a lump sum payment on
the date that is six (6) months and one (1) day after the date of Executive’s Separation from Service. 
 3. All Salary Continuation payments (described under this subsection (a)(i)) will terminate and forever lapse in the event of Executive’s breach (in accordance with Section 10 below), and
Executive shall be required to reimburse OSH for any portion of the Salary Continuation paid during the Salary Continuation Period. 
 ii. Continuation of Benefits. 
 1.
During the Salary Continuation Period, Executive will be entitled to participate in all benefit plans and programs (except as specified in this subsection (a)(ii)), as an active associate, in which Executive was eligible to participate on the Date
of Termination (subject to the terms and conditions and continued availability of such plans and programs); provided, however, that Executive will not be eligible to participate in the long-term disability plan (as of the 15 th day following the Date of Termination), health care flexible
spending account (except on an after-tax basis and only through the earlier of the end of Salary Continuation Period or the calendar year in which the Separation from Service occurs), company paid life insurance and the Orchard Supply Hardware
Retirement Savings Plan during the Salary Continuation Period. Executive and Executive’s eligible dependents shall be entitled to continue to participate, as active participants, in company medical and dental plans (subject to the terms and
conditions and continued availability of such plans) during the Salary Continuation Period. 
 2. If Executive
does not timely execute and submit the General Release and Waiver (in accordance with subsection 4(e) herein) by the deadline specified therein, Executive shall be required to reimburse OSH for the portion of the cost for the benefits referred to
under subsection (a)(ii)(l) immediately above paid by OSH during the Salary Continuation Period, and Executive shall instead be eligible for COBRA continuation coverage under the company medical and dental plans as of Executive’s Date of
Termination. 
 3. Subject to subsection (a)(ii)(4) immediately below, in the event Executive provides services
to another employer and is covered by such employer’s health benefits plan or program, the medical and dental 

  

									
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benefits provided by OSH hereunder shall be secondary to such employer’s health benefits plan or program in accordance with the terms of the company health benefit plans. 

4. All of the benefits described in this subsection (a)(ii) will terminate and forever lapse in the event of
Executive’s breach (in accordance with Section 10 below), and Executive shall be required to reimburse OSH for any portion of the cost for the benefits referred to under subsection (a)(ii)(l) immediately above paid by OSH during the Salary
Continuation Period, and Executive shall instead be eligible for COBRA continuation coverage under the company medical and dental plans as of Executive’s Severance from Service date. 

iii. Outplacement. As of Executive’s Separation from Service, Executive will be immediately eligible for
reasonable outplacement services at the expense of OSH or the appropriate OSH Affiliate. OSH and Executive will mutually agree on which outplacement firm, among current vendors used by OSH, will provide these services. Such services will be provided
for up to six (6) months from the Separation from Service or until employment is obtained, whichever occurs first. Outplacement benefits described in this subsection (a) (iii) will terminate and forever lapse in the event of
Executive’s breach (in accordance with Section 10 below). 
 iv. Other. 

1 In addition to the foregoing Severance Benefits, a lump sum payment will be made to Executive within ten
(10) business days following the Date of Termination in an amount equal to the sum of any base salary and any vacation benefits that have accrued through the Date of Termination to the extent not already paid. No vacation will accrue during the
Salary Continuation Period. 
 2. Notwithstanding the foregoing and anything herein to the contrary, in the
event of Executive’s death during the Salary Continuation Period, any unpaid portion of the Salary Continuation payable in accordance with subsection (a)(i) above shall be paid in a lump sum, within sixty (60) days of death (and no later
than amounts would have been paid absent death), to Executive’s estate, and any eligible dependents who are covered dependents as of the date of death shall incur a qualifying event under COBRA as a result of such death. 

(b) Impact of Termination on Certain Other Plans/Programs. 

i. Annual Incentive Plan. Upon Executive’s Date of Termination, Executive’s entitlement to any award
under the applicable annual incentive plan (“AIP”) sponsored by OSH or an OSH Affiliate, shall be determined in accordance with the terms and conditions of the AIP document regarding termination of employment. 

  

									
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 ii. Stock Plan. Upon Executive’s Date of Termination,
Executive’s entitlement to any unvested options, restricted stock or other equity award granted to Executive under the Orchard Supply Hardware Stores Corporation Stock Incentive Plan (“Stock Incentive Plan”) or any other stock plan
sponsored by OSH or an OSH Affiliate shall be determined in accordance with the terms and conditions of the applicable award agreement and stock plan document regarding termination of employment. 

(c) Post-Termination Forfeiture of Severance Benefits. If OSH or an OSH Affiliate determines after Executive’s
Date of Termination that Executive engaged in activity during employment with OSH that OSH or an OSH Affiliate determines constituted Cause, Executive shall immediately cease to be eligible for Severance Benefits and shall be required to reimburse
OSH for any portion of the Salary Continuation paid to Executive and for the cost of other Severance Benefits received by Executive during the Salary Continuation Period. 
 2. Definitions. For purposes of this Agreement, each capitalized term in this Agreement is either defined in the section, exhibit or appendix in which it first appears or in this Section 2.
The following capitalized terms shall have the definitions as set forth below: 
 (a) “Cause”
shall mean (i) a material breach by Executive (other than a breach resulting from Executive’s incapacity due to a Disability) of Executive’s duties and responsibilities which breach is demonstrably willful and deliberate on
Executive’s part, is committed in bad faith or without reasonable belief that such breach is in the best interests of OSH or the OSH Affiliates and is not remedied in a reasonable period of time after receipt of written notice from OSH
specifying such breach; (ii) the commission by Executive of a felony; or (iii) dishonesty or willful misconduct in connection with Executive’s employment. 

(b) “Disability” shall mean disability as defined under the company long-term disability plan (regardless
of whether the Executive is a participant under such plan). 
 (c) “Good Reason” shall mean,
without Executive’s written consent, (i) a reduction of more than ten percent (10%) in the sum of Executive’s annual base salary and target AIP bonus from those in effect as of the date of this Agreement;
(ii) Executive’s mandatory relocation to an office more than fifty (50) miles from the primary location at which Executive is required to perform Executive’s duties immediately prior to the date of this Agreement; or
(iii) any other action or inaction that constitutes a material breach of the terms of this Agreement, including failure of a successor company to assume or fulfill the obligations under this Agreement. In each case, Executive must provide OSH
with written notice of the facts giving rise to a claim that “Good Reason” exists for purposes of this Agreement, within thirty (30) days of the initial existence of such Good Reason event, and OSH shall have a right to remedy such
event within sixty (60) days after receipt of Executive’s written notice (“the sixty (60) day period”). If OSH remedies the Good Reason event within the sixty (60) day period, the Good Reason event (and Executive’s
right to receive any benefit under this Agreement on account of termination of employment for Good Reason) shall cease to exist. If OSH does not remedy the Good Reason event within the sixty (60) day period, and Executive does not incur a
termination of employment within thirty (30) 

  

									
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days following the earlier of: (y) the date OSH notifies Executive that it does not intend to remedy the Good Reason or does not agree that there has been a Good Reason event, or
(z) the expiration of the sixty (60) day period, the Good Reason event (or any claim of Good Reason) shall cease to exist. Notwithstanding the foregoing, if Executive fails to provide written notice to OSH of the facts giving rise to a
claim of Good Reason within thirty (30) days of the initial existence of such Good Reason event, the Good Reason event (and Executive’s right to receive any benefit under this Agreement on account of termination of employment for Good
Reason) shall cease to exist as of the thirty-first
(31st) day following the later of its occurrence or
Executive’s knowledge thereof. 
 (d) “OSH Affiliate” shall mean any person with whom OSH
is considered to be a single employer under Code Section 414 (b) and all persons with whom OSH would be considered a single employer under Code Section 414 (c), substituting “50%” for the “80%” standard that would
otherwise apply. 
 (e) “Section 409A Threshold” shall mean an amount equal to two times the
lesser of (i) Executive’s base salary for services provided to OSH and any OSH Affiliate as an employee for the calendar year preceding the calendar year in which Executive has a Separation from Service; or (ii) the maximum amount
that may be taken into account under a qualified plan in accordance with Code Section 401(a)(17) for the calendar year in which the Executive has a Separation from Service. In all events, this amount shall be limited to the amount specified
under Treasury Regulation Section 1.409A-l(b)(9)(iii)(A) or any successor thereto. 
 (f)
“Separation from Service” shall mean a “separation from service” with OSH (including any OSH Affiliate) within the meaning of Code Section 409A (and regulations issued thereunder). Notwithstanding anything herein to
the contrary, the fact that Executive is treated as having incurred a Separation from Service under Code Section 409A and the terms of this Agreement shall not be determinative, or in any way affect the analysis, of whether Executive has
retired, terminated employment, separated from service, incurred a severance from employment or become entitled to a distribution, under the terms of any retirement plan (including pension plans and 401(k) savings plans) maintained by OSH (including
by an OSH Affiliate). 
 (g) “Specified Employee” shall mean a “specified employee”
under Code Section 409A (and regulations issued thereunder), which shall be determined in accordance with the provisions of Supplement A to the Supplemental Retirement Income Plan (as amended and restated effective January 1, 2008).

 3. Intellectual Property Rights. Executive acknowledges that Executive’s development, work or research on any and
all inventions or expressions of ideas, that may or may not be eligible for patent, copyright, trademark or trade secret protection, hereafter made or conceived solely or jointly within the scope of employment at OSH or any OSH Affiliate, provided
such invention or expression of an idea relates to the business of OSH or any OSH Affiliate, or relates to actual or demonstrably anticipated research or development of OSH or any OSH Affiliate, or results from any work performed by Executive for or
on behalf of OSH or any OSH Affiliate, are hereby assigned to OSH, including Executive’s entire rights, title and interest. Executive will promptly disclose such invention or expression of an idea to Executive’s

  

									
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management and will, upon request, promptly execute a specific written assignment of title to OSH. If Executive currently holds any inventions or expressions of an idea, regardless of whether
they were published or filed with the U.S. Patent and Trademark Office or the U.S. Copyright Office, or is under contract to not so assign, Executive will list them on the last page of this Agreement. 

4. Protective Covenants. Executive acknowledges that this Agreement provides for additional consideration beyond what OSH or any
OSH Affiliate is otherwise obligated to pay. In consideration of the opportunity for the Severance Benefits, and other good and valuable consideration, Executive agrees to the following: 

(a) Non-Disclosure of OSH Confidential Information. Executive acknowledges and agrees to be bound by the following,
whether or not Executive receives any Severance Benefits under this Agreement: 
 i. Non-Disclosure.

 1. Executive will not, during the term of Executive’s employment with OSH or any OSH Affiliate or
thereafter, and other than in the performance of his duties and obligations during his employment with OSH or as required by law or legal process, and except as OSH may otherwise consent or direct in writing, reveal or disclose, sell, use, lecture
upon or publish any “OSH Confidential Information” (as defined in subsection 4(a)(ii) below) until such time as the information becomes publicly known other than as a result of its disclosure, directly or indirectly, by Executive; and

 2. Executive understands that if Executive possesses any proprietary information of another person or company
as a result of prior employment or otherwise, OSH expects and requires that Executive will honor any and all legal obligations that Executive has to that person or company with respect to proprietary information, and Executive will refrain from any
unauthorized use or disclosure of such information. 
 ii. OSH Confidential Information. For purposes of
this Agreement, “OSH Confidential Information” means trade secrets and non-public information which OSH or any OSH Affiliate designates as being confidential or which, under the circumstances, should be treated as confidential, including,
without limitation, any information received in confidence or developed by OSH or any OSH Affiliate, its long and short term goals, vendor and supply agreements, databases, methods, programs, techniques, business information, financial information,
marketing and business plans, proprietary software, personnel information and files, client information, pricing, and other information relating to the business of OSH or any OSH Affiliate that is not known generally to the public or in the
industry. 
 iii. Return of OSH Property. All documents and other property that relate to the business of
OSH or any OSH Affiliate are the exclusive property of OSH, even if Executive authored or created them. Executive agrees to return all 

  

									
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such documents and tangible property to OSH upon termination of employment or at such earlier time as OSH may request Executive to do so. 

iv. Conflict of Interest. During Executive’s employment with OSH or any OSH Affiliate and during any Salary
Continuation Period, except as may be approved in writing by OSH, neither Executive nor members of Executive’s immediate family (which shall refer to Executive, any spouse or any child) will have financial investments or other interests or
relationships with OSH’s or any OSH Affiliate’s customers or suppliers which might impair Executive’s independence of judgment on behalf of the Company. Also during Executive’s employment with OSH or any OSH Affiliate, Executive
agrees further not to engage in any activity in competition with OSH or any OSH Affiliate and will avoid any outside activity that could adversely affect the independence and objectivity of Executive’s judgment, interfere with the timely and
effective performance of Executive’s duties and responsibilities to OSH or any OSH Affiliate, discredit OSH or any OSH Affiliate or otherwise conflict with the best interests of OSH or any OSH Affiliate. 

(b) Non-Solicitation of Employees. During Executive’s employment with OSH or any OSH Affiliate and for twelve
(12) months following Executive’s Date of Termination, whether or not Executive receives any Severance Benefits under this Agreement, Executive will not, directly or indirectly, solicit or encourage any person to leave her/his employment
with OSH or any OSH Affiliate or assist in any way with the hiring of any OSH or any OSH Affiliate employee by any future employer or other entity. 
 (c) Compliance with Protective Covenants. Executive will provide OSH with such information as OSH may from time to time reasonably request to determine Executive’s compliance with this
Section 4. Executive authorizes OSH to contact Executive’s future employers and other entities with which Executive has any business relationship to determine Executive’s compliance with this Agreement or to communicate the contents
of this Agreement to such employers and entities. Executive releases OSH, OSH Affiliates, their agents and employees, from all liability for any damage arising from any such contacts or communications. 

(d) Necessity and Reasonableness. Executive agrees that the restrictions set forth herein are necessary to prevent
the use and disclosure of OSH Confidential Information and to otherwise protect the legitimate business interests of OSH and OSH Affiliates. Executive further agrees and acknowledges that the provisions of this Agreement are reasonable. 

(e) General Release and Waiver. Upon Executive’s Date of Termination (whether initiated by OSH or Executive in
accordance with subsection 1(a) above) potentially entitling Executive to Severance Benefits, Executive will execute a binding general release and waiver of claims in a form to be provided by OSH (“General Release and Waiver”), which is
incorporated by reference under this Agreement. This General Release and Waiver will be in a form substantially similar to the attached sample. If the General Release and Waiver is not signed within the time required by the waiver or is signed but
subsequently revoked, Executive will not continue to receive any Severance 

  

									
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Benefits otherwise payable under subsection 1(a) above. Further, Executive shall be obligated to reimburse OSH for any portion of (i) the Salary Continuation paid during the Salary
Continuation Period under subsection (l)(a)(i) herein, and (ii) the cost for the benefits provided during the Salary Continuation Period under subsection (l)(a)(ii) herein. A sample of this General Release and Waiver is provided as Exhibit
A to this Agreement. 
 5. Irreparable Harm. Executive acknowledges that irreparable harm would result from any
breach by Executive of the provisions of this Agreement, including without limitation subsections 4(a) and 4(b), and that monetary damages alone would not provide adequate relief for any such breach. Accordingly, if Executive breaches or threatens
to breach this Agreement, Executive consents to injunctive relief in favor of OSH without the necessity of OSH posting a bond. Moreover, any award of injunctive relief shall not preclude OSH from seeking or recovering any lawful compensatory damages
which may have resulted from a breach of this Agreement, including a forfeiture of any future payments and a return of any payments and benefits already received by Executive. 
 6. Non-Disparagement. Executive will not take any actions that would reasonably be expected to be detrimental to the interests of OSH or any OSH Affiliate, nor make derogatory statements, either
written or oral to any third party, or otherwise publicly disparage OSH or any OSH Affiliate, its products, services, or present or former employees, officers or directors, and will not authorize others to make derogatory or disparaging statements
on Executive’s behalf. This provision does not and is not intended to preclude Executive from providing truthful testimony in response to legal process or governmental inquiry. 

7. Cooperation. Executive agrees, without receiving additional compensation, to fully and completely cooperate with OSH, both
during and after the period of employment with OSH or any OSH Affiliate (including any Salary Continuation Period), with respect to matters that relate to Executive’s period of employment, in all investigations, potential litigation or
litigation in which OSH or any OSH Affiliate is involved or may become involved other than any such investigations, potential litigation or litigation between OSH and Executive. OSH will reimburse Executive for reasonable travel and out-of-pocket
expenses incurred in connection with any such investigations, potential litigation or litigation. 
 8. Future Enforcement or
Remedy. Any waiver, or failure to seek enforcement or remedy for any breach or suspected breach, of any provision of this Agreement by OSH or Executive in any instance shall not be deemed a waiver of such provision in the future. 

9. Acting as Witness. Executive agrees that both during and after the period of employment with OSH or any OSH Affiliate
(including any Salary Continuation Period), Executive will not voluntarily act as a witness, consultant or expert for any person or party in any action against or involving OSH or any OSH Affiliate or corporate relative of OSH, unless subject to
judicial enforcement to appear as a fact witness only. 
 10. Breach by Executive. In the event of a breach by Executive
of any of the provisions of this Agreement, including without limitation the non-disparagement provision (Section 6) of this Agreement, the obligation of OSH or any OSH Affiliate to pay Salary Continuation or to provide other Severance Benefits
under this Agreement will immediately cease and any Salary Continuation payments already received and the value of any other 

  

									
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Severance Benefits already received will be returned by Executive to OSH. Further, Executive agrees that OSH shall be entitled to recovery of its attorneys’ fees and other associated costs
incurred as a result of any attempt to redress a breach by Executive or to enforce its rights and protect its interests under the Agreement. 
 11. Severability. If any provision(s) of this Agreement shall be found invalid, illegal, or unenforceable, in whole or in part, then such provision(s) shall be modified or restricted so as to
effectuate as nearly as possible in a valid and enforceable way the provisions hereof, or shall be deemed excised from this Agreement, as the case may require, and this Agreement shall be construed and enforced to the maximum extent permitted by
law, as if such provision(s) had been originally incorporated herein as so modified or restricted or as if such provision(s) had not been originally incorporated herein, as the case may be. 

12. Governing Law. This Agreement will be governed under the internal laws of the state of California without regard to principles
of conflicts of laws. Executive agrees that the state and federal courts located in the state of California shall have exclusive jurisdiction in any action, lawsuit or proceeding based on or arising out of this Agreement, and Executive hereby:
(a) submits to the personal jurisdiction of such courts; (b) consents to the service of process in connection with any action, suit, or proceeding against Executive; and (c) waives any other requirement (whether imposed by statute,
rule of court, or otherwise) with respect to personal jurisdiction, venue or service of process. 
 13. Right to Jury.
Executive agrees to waive any right to a jury trial on any claim contending that this Agreement or the General Release and Waiver is illegal or unenforceable in whole or in part, and Executive agrees to try any claims brought in a court or tribunal
without use of a jury or advisory jury. Further, should any claim arising out of Executive’s employment, termination of employment or Salary Continuation Period (if any) be found by a court or tribunal of competent jurisdiction to not be
released by the General Release and Waiver, Executive agrees to try such claim to the court or tribunal without use of a jury or advisory jury. 
 14. Employment-at-Will. This Agreement does not constitute a contract of employment, and Executive acknowledges that Executive’s employment with OSH or any OSH Affiliate is terminable
“at-will” by either party with or without cause and with or without notice. 
 15. Other Plans, Programs, Policies
and Practices. If any provision of this Agreement conflicts with any other plan, programs, policy, practice or other OSH or OSH Affiliate document, then the provisions of this Agreement will control, except as otherwise precluded by law.
Executive shall not be eligible for any benefits under any broad-based company sponsored severance pay program. 
 16. Entire
Agreement. This Agreement, including any exhibits or appendices hereto, contains and comprises the entire understanding and agreement between Executive and OSH (including any OSH Affiliate) and fully supersedes any and all prior agreements or
understandings between Executive and OSH with respect to the subject matter contained herein, and may be amended only by the Chief Executive Officer of OSH. 
 17. Confidentiality. Executive agrees that the existence and terms of the Agreement, including any compensation paid to Executive, and discussions with OSH (including any OSH Affiliate) regarding
this Agreement, shall be considered confidential and shall not be disclosed or communicated in any manner except: (a) as required by law or legal process; (b) to Executive’s 

  

									
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spouse or domestic partner, or (c) to Executive’s financial/legal advisors, all of whom shall agree to keep such information confidential. 

18. Tax Withholding. Any compensation paid or provided to Executive under this Agreement shall be subject to any applicable
federal, state or local income and employment tax withholding requirements. 
 19. Notices. All notices and other
communications hereunder shall be in writing and shall be given by hand delivery to the other parties or by registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 

 

			
	If to the Executive:	 	At the most recent address on file at OSH.
		
	If to OSH:	 	 Orchard Supply Hardware Stores Corporation
 6450 Via Del Oro
 San Jose, California, 95119

  

			
	Attention to both:	 	 Senior Vice President, Human Resources
 Chief Executive Officer

 20. Assignment. OSH may assign its rights under this Agreement to any successor in interest,
whether by merger, consolidation, sale of assets, or otherwise. This Agreement shall be binding whether it is between OSH and Executive or between any successor or assignee of OSH or affiliate thereof and Executive. 

21. Section 409A Compliance. To the extent that a payment or benefit under this Agreement is subject to Code
Section 409A, it is intended that this Agreement as applied to that payment or benefit comply with the requirements of Code Section 409A, and the Agreement shall be administered and interpreted consistent with this intent. 

22. Counterparts. This Agreement may be executed in one or more counterparts, which together shall constitute a valid and binding
agreement. 
 [Remainder of page intentionally left blank.] 

  

									
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 IN WITNESS WHEREOF, Executive and OSH, by its duly authorized representative, have executed
this Agreement on the dates stated below, effective as of the date first set forth above. 
  

							
	EXECUTIVE	 		 	ORCHARD SUPPLY HARDWARE STORES CORPORATION
				
	 [ILLEGIBLE]
	 		 	BY:	 	 [ILLEGIBLE]

	Steven Mahurin	 		 		 	
			
	 11-3-11
	 		 	 11-3-11

	Date	 		 	Date

  

									
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 EXHIBIT A 
 NOTICE: YOU MAY CONSIDER THIS GENERAL RELEASE AND WAIVER FOR UP TO TWENTY-ONE (21) DAYS. YOU MAY NOT SIGN IT UNTIL ON OR AFTER YOUR LAST DAY OF WORK. IF YOU DECIDE TO SIGN IT, YOU MAY REVOKE THE
GENERAL RELEASE AND WAIVER WITHIN SEVEN (7) DAYS AFTER SIGNING. ANY REVOCATION WITHIN THIS PERIOD MUST BE IMMEDIATELY SUBMITTED IN WRITING TO [DIRECTOR, HUMAN RESOURCES], ORCHARD SUPPLY HARDWARE STORES CORPORATION, 6450 VIA DEL ORO, SAN JOSE,
CALIFORNIA, 95119. YOU MAY WISH TO CONSULT WITH AN ATTORNEY BEFORE SIGNING THIS DOCUMENT. 
 GENERAL RELEASE AND WAIVER

 In consideration for the benefits that I will receive under the attached Executive Severance Agreement, I, and any person
acting by, through, or under me hereby release Orchard Supply Hardware Stores Corporation, its current and former agents, parents, subsidiaries, affiliates, employees, officers, stockholders, successors, and assigns (“OSH”) from any and
all claims arising out of my employment or the termination thereof. This General Release and Waiver is to be broadly construed to encompass all claims of any kind or character whatsoever, whether known or unknown, based upon any matter occurring
prior to my execution of this General Release and Waiver and including, but without limiting the generality of the foregoing, any and all claims under the Age Discrimination in Employment Act (“ADEA”), Title VII of the Civil Rights Act of
1964, Section 1981 of the Civil Rights Act of 1866, the Americans with Disabilities Act (“ADA”), the Employee Retirement Income Security Act (“ERISA”), the Worker Adjustment and Retraining Notification Act
(“WARN”), the Family and Medical Leave Act (“FMLA”) and any other federal, state or local constitution, statute, regulation, or ordinance, and any and all common law claims including, but not limited to, claims for wrongful or
retaliatory discharge, intentional infliction of emotional distress, negligence, defamation, invasion of privacy, and breach of contract. This General Release and Waiver does not apply to any claims or rights that may arise after the date that I
signed this General Release and Waiver. I understand that OSH is not admitting to any violation of my rights or any duty or obligation owed to me. 
 Excluded from this General Release and Waiver are any claims which cannot be waived by law, including but not limited to (1) the right to file a charge with or participate in an investigation
conducted by certain government agencies, and (2) any rights or claims to benefits accrued under benefit plans maintained by OSH pursuant to ERISA. I do, however, waive my right to any monetary recovery should any agency or other third party
pursue any claims on my behalf. I represent and warrant that I have not filed any complaint, charge, or lawsuit against OSH with any governmental agency and/or any court. 
 I hereby expressly waive all rights and benefits under section 1542 of the California Civil Code. Section 1542 provides as follows: 

A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at
the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor. 

  

					
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 GENERAL RELEASE AND WAIVER (continued) 

I hereby acknowledge that the foregoing waiver of the provisions of Section 1542 of the California Civil Code was separately bargained for.
Notwithstanding the provisions of Section 1542, it is my intention to hereby irrevocably and unconditionally release and forever discharge Holdings and all persons acting by, through, under, or in concert with Holdings from any and all charges,
complaints, claims, and liabilities of any kind or nature whatsoever, known or unknown, suspected or unsuspected, which I may have or claim to have regarding events that have occurred as of or before the effective date of this Agreement, including,
without limitation, any and all claims related or in any manner or incidental to my hiring, employment with, and the termination of employment. I expressly consent that this General Release and Waiver shall be given full force and effect in
accordance with each and all of its terms and provisions relating to unknown and unsuspected claims, demands, causes of action, if any, to the same effect as those terms and provisions relating to any other claims, demands, and causes of action.

 I have read this General Release and Waiver and I understand its legal and binding effect. I am acting voluntarily and of my
own free will in executing this General Release and Waiver. 
 I have had the opportunity to seek, and I was advised in writing
to seek, legal counsel prior to signing this General Release and Waiver. 
 I was given at least twenty-one (21) days to
consider signing this General Release and Waiver. Any immaterial modification of this General Release and Waiver does not restart the twenty-one (21) day consideration period. 

I understand that, if I sign the General Release and Waiver, I can change my mind and revoke it within seven (7) days after signing
it by notifying the Vice President, Human Resources at OSH in writing at Orchard Supply Hardware Stores Corporation, 6450 Via Del Oro, San Jose, California 95119. I understand that this General Release and Waiver will not be effective until after
this seven (7) day revocation period has expired. 
  

									
	Date:	 	 SAMPLE ONLY - DO NOT DATE
	 		 	Signed by:	 	 SAMPLE ONLY - DO NOT SIGN

					
		 		 		 	Witness by:	 	 SAMPLE ONLY - DO NOT SIGN

  

					
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