Document:

Separation Agreement dated March 24, 2010 between FTI

 Exhibit 10.1 
 

 

					
		 		  	FTI Consulting
		 		  	500 East Pratt Street
		 		  	Suite 1400
	Eric B. Miller	 		  	Baltimore, Maryland 21202
	Executive Vice President	 		  	Telephone 410-951-4827
	General Counsel	 		  	Facsimile 410-951-4878
		 		  	
		 		  	eric.miller@fticonsulting.com
		 		  	www.fticonsulting.com

 March 24, 2010 
 Mr. Jorge A. Celaya 
 205 Woodbrook Lane

 Baltimore, Maryland 21212 
 Dear
Jorge: 
 Reference is made to your Offer Letter with FTI Consulting, Inc. (“FTI”) dated as of June 14, 2007, as amended on
December 31, 2008 (the “Employment Agreement”), which sets forth the terms and conditions of your employment with FTI. In consideration of your release of FTI and its affiliates (the “Company”) and other good and
valuable consideration, we agree with you as follows: 
  

	1.	This agreement (the “Agreement”) shall govern the terms of your voluntary separation from service with FTI as well as the terms of your provision of
transition services. 

  

	2.	Your last day of employment with the Company will be March 30, 2010. The Employment Agreement will be deemed terminated effective on and as of the close of
business on March 30, 2010. This termination will be treated as a separation from service within the meaning of Section 409A of the Internal Revenue Code. The payment to you of the severance pursuant to Section 4 of this
Agreement is intended to satisfy the short-term deferral exemption of Section 409A of the Internal Revenue Code such that the severance shall not constitute “deferred compensation” within the meaning of Section 409A of the
Internal Revenue Code. Except as expressly set forth herein, you shall not be entitled to any payments or other benefits as a result of your separation from service. 

  

	3.	Effective upon the execution of this Agreement, you will no longer serve as Executive Vice President-Chief Financial Officer of FTI, and you no longer will be
responsible to perform the duties and responsibilities associated with your position as set forth in your Employment Agreement. On and as of March 30, 2010, you hereby resign as an officer or director of any affiliate of the Company, and
you shall execute promptly all documents necessary or appropriate to evidence your resignation as an officer or director of any affiliate of the Company. 

  

	4.	The Company will pay you severance in an amount equal to your current annual base salary, plus $700,000, less all lawful deductions. This payment will be made to
you in one lump sum, such payment to be made promptly after the effective date of your separation from service with the Company. 

  

 Execution Version 

 Mr. Jorge A. Celaya 
 March 24, 2010 
  Page
 2
 
  

  

	5.	All restricted shares granted to you in 2007 and 2010 shall immediately vest and all outstanding stock options granted to you in 2007 shall immediately vest and remain
exercisable for 90 days after the effective date of your separation from service in accordance with the terms of the pertinent option agreements. You shall remain a designated person, subject to our trading window, through our current year first
quarter earnings release. 

  

	6.	You will be reimbursed for all business related expenses incurred by you during the period through March 30, 2010, and you will be reimbursed for all authorized
out of pocket expenses incurred by you during the Transition Services Period (as such term is defined in Section 7 herein). You must submit your request for reimbursement of business expenses, accompanied by proper documentation,
consistent with past practice. FTI will use its best efforts to pay all expense requests eligible for reimbursement within ten (10) working days of the date of the submission of a properly documented expense reimbursement request.

  

	7.	During the period from March 31, 2010 through May 31, 2010 (the “Transition Services Period”), the Company may require you to render transition
consulting services from time to time, subject to reasonable advance notice and your reasonable availability. In such capacity, you will serve as an independent contractor consultant to FTI. During such period you will not hold yourself
out as an employee, agent or authorized representative of FTI or negotiate or enter into any agreements on behalf of FTI. In the event FTI utilizes your consulting services during the Transition Services Period, you will be paid a per diem stipend
of $4,500, which will be paid bi-weekly, in arrears. No form of employment, joint venture, partnership or similar relationship between the parties is intended or hereby created. You shall: (i) be responsible for the timely withholding
and payment of all taxes, including federal, state and local taxes, including by way of illustration but not limitation, federal and state income tax, social security tax, Medicare tax, unemployment insurance taxes, and any other taxes or business
license fees as required and (ii) indemnify, defend and hold harmless FTI to the extent of any obligations imposed by law on FTI to pay any withholding taxes, social security, unemployment or disability insurance, or similar items in connection
with any payment made to you by FTI for consulting services rendered. Your agreement to provide transition services is an independent obligation and is not a condition of your termination of employment and receipt of any severance or other
payments associated therewith 

  

	8.	You and your family shall be entitled to continued medical and dental insurance coverage at present levels through September 30, 2011. Thereafter, you will be
eligible to continue your health insurance coverage under COBRA, as in effect at such time. You will receive further details on these conversion/continuation rights in a separate document from Conexis. 

  

	9.	You will continue to have the use of a leased company car through the expiration of the lease for the FTI vehicle you drive presently, in July 2010. FTI will cover
all maintenance expense, but not fuel costs, during the Transition Services Period through the lease expiration. In the event applicable FTI insurance arrangements do not permit the continued use of a leased company car after March 30, 2010,
suitable and mutually acceptable alternative arrangements will be made. 

  

	10.	 Since, as part of your employment, you have had access to information of a nature not generally disclosed to the public, you will be expected to keep
confidential and not disclose to anyone, the

  

 

 

 Mr. Jorge A. Celaya 
 March 24, 2010 
  Page
 3
 
  

	 	 
business, proprietary, and trade secret information in your possession, as well as the confidential, or otherwise proprietary information regarding FTI employees, and personnel practices and
related matters. You agree that you will not take, copy, use or distribute in any form or manner confidential or proprietary documents or information, including, but not limited to, research and development materials, lists of customers or
potential customers, financial information, business and strategic plans, software programs and codes, access codes, and other similar materials or information. The foregoing undertakings relate to information of a similar type and nature that
is provided to you during the Transition Services Period. 

  

	11.	You agree that as soon as practicable but in no event later than March 30, 2010, you will return any and all company property in your possession, including, but
not limited to, your computer, software programs, personnel materials or files, handbooks, manuals, policies, memoranda, notes, and drafts thereof, and any other documents or property (and any summaries or copies thereof), unfinished versions or
reproductions of any items developed by you and/or obtained by you or on your behalf, directly or indirectly, pursuant to your employment (collectively, the “Business Records”). This includes all files and other company property
stored in your home office. You further agree that you will not retain copies, summaries, excerpts or duplicates of any such Business Records. You will have access to all Business Records necessary to perform consulting services during the
Transition Services Period. 

  

	12.	You will retain all vested retirement benefits under 401(K) and other qualified pension plans. 

  

	13.	You will continue to enjoy all rights to indemnification, and to be held harmless and to be defended under the Company by-laws, policies, corporate resolutions and
procedures, including for acts and omissions through the end of the Transition Services Period. You shall continue to be covered under all corporate insurance policies for acts and omissions in your capacity as an employee, officer and director
of the Company through March 30, 2010. 

  

	14.	 In consideration of the severance and other benefits provided to you hereunder, you hereby release the Company of and from any and all claims, causes
of action, demands, obligations, agreements, promises, liability, damages, costs and/or fees arising out of or relating to your employment, including your separation from service with the Company, to the greatest extent permitted under the
applicable law. By this paragraph, you are waiving any claims which may exist against the Company, its directors, officers, employees, agents and all other related or affiliated persons, firms or entities. This includes all rights and
obligations under any federal, state or local laws pertaining to employment, including, but not limited to, all employment discrimination laws, such as the Age Discrimination in Employment Act, the Older Workers Benefit Protection Act, Title VII of
the Civil Rights Act of 1964, the Americans with Disabilities Act, the Civil Rights Act of 1866, the Civil Rights Act of 1991, the Employee Retirement Income Security Act (“ERISA”), the National Labor Relations Act, the Maryland Human
Relations Commission Act, retaliatory discharge, breach of employment contract, conspiracy, fraud, negligence (including negligent hiring and retention), prima facie tort, defamation, negligent or intentional infliction of emotional distress,
implied contracts or implied covenants of good faith and fair dealing, and any and all other federal, state and local statutes, cases, authorities or laws (including common law) providing a cause of action that can be the subject of a release under
applicable law. THIS IS A GENERAL RELEASE. Nothing in this release shall be

  

 

 

 Mr. Jorge A. Celaya 
 March 24, 2010 
  Page
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construed to waive any claims that cannot be waived as a matter of law or to waive any right to file an administrative charge that cannot be waived as a matter of law. This general release
does not waive any rights or claims that may arise after the date the waiver is executed. Furthermore, nothing in this paragraph will affect the ability of either party to enforce rights or entitlements specifically provided for under this
Agreement as set forth above. The Company’s obligations under this Agreement are contingent upon your compliance with all terms and conditions provided for in this Section 14. 

  

	15.	You acknowledge and agree that, as a condition of this Agreement, you expressly release all rights and claims against the Company that you know about as well as those
you may not know about or suspect to exist in your favor as of the time you execute this Agreement. You expressly acknowledge that this Agreement is intended to include and does include in its effect, without limitation, all claims which you do
not know or suspect to exist in your favor against the Company, and that this Agreement contemplates the extinguishment of any such claim or claims. 

  

	16.	You acknowledge that this Agreement is a full and accurate statement of the understanding between the parties. The terms of this Agreement may not be modified,
except by mutual consent of the parties. Any and all modifications must be reduced to writing and signed by the parties to be effective. 

  

	17.	Consistent with Company policy, in response to any requests for employment references, the Company will provide only job title and dates of service unless requested
otherwise by you. Salary information will be provided only upon receipt of written authorization from you. 

  

	18.	The parties shall not issue publicity, news release or other announcements, written or oral, to third parties other than professional advisers, discussing your
separation from service with the Company without the prior written approval of the other party, except as required by law, including, without limitation, federal or state securities laws and rules, rules of any self-regulatory organization or
national securities exchange to which the parties are subject, or legal process. Attached hereto is an agreed upon Form 8-K which will be filed promptly after the execution of this Agreement. For the avoidance of doubt, the Company shall be
entitled to discuss the fact of your impending separation from the Company with other employees of the Company and its affiliates, its Board of Directors, and its auditor, in order to avoid any disruption and to facilitate a smooth
transition. Each party will refrain from taking action or making statements, written or oral, that disparage or defame the goodwill or reputation of you or the Company, its directors, officers, agents and employees. Notwithstanding any
provision in this Agreement or otherwise to the contrary, both you and the Company shall be and are authorized to provide truthful (a) responses to lawful inquiries from any foreign, federal, state or local government, political subdivision or
governmental or regulatory authority, agency, board, bureau, commission, instrumentality or quasi-governmental authority who have jurisdiction over the Company and/or you, and/or (b) testimony under oath on any occasion you or the Company is
under oath and are authorized to reply truthfully to any order of any court or other forum including, but not limited to, any subpoena, without, in the case of either (a) or (b) above, such response or testimony constituting a violation of
your or the Company’s obligations under this paragraph or otherwise. 

  

 

 

 Mr. Jorge A. Celaya 
 March 24, 2010 
  Page
 5
 
  

	19.	The parties to this Agreement acknowledge and agree that this is a settlement and compromise and that this Agreement is not intended and should not be construed as an
admission of liability or wrongdoing by any party hereto. 

  

	20.	In the event of a breach of this Agreement by either party that results in the institution of legal proceedings, the prevailing party shall be entitled to recover
reasonable fees and expenses of counsel as part of its damages for such breach, in addition to any other relief to which the party may be entitled. 

  

	21.	This Agreement may be executed simultaneously in two or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and
the same agreement and shall become effective when a counterpart has been signed by each of the parties hereto and delivered to the other, electronic signatures shall be deemed original signatures for all purposes. 

  

	22.	This agreement will be governed by the laws of the state of Maryland, without regard to any conflicts of laws provisions. 

 The terms of this Agreement have been approved by the Compensation Committee of the Board of Directors of FTI. Your signature below will confirm that you
are entering into this Agreement voluntarily, after a reasonable opportunity to consult and confer with your independent counsel, and with a full understanding of each and every term set forth herein. In addition, once signed, this Agreement
will, except as otherwise provided expressly herein, set forth the entire agreement between the Company and you, and will supersede all previous agreements or discussions concerning your employment or the termination thereof and your relationship
with the Company.
  

	
	Very truly yours,
	
	 /s/ ERIC B. MILLER

	Eric B. Miller
	
	cc: Jack B. Dunn, IV
	
	Accepted and agreed this 24th day of March, 2010.
	
	 /s/ JORGE A. CELAYA

	Jorge A. CelayaEmployment Agreement

 Exhibit 10.18 
 Christina M. Neppl-Totino 
 EMPLOYMENT
AGREEMENT 
 AGREEMENT dated as of the 15th day of January 2008 between Christina M. Neppl-Totino, whose address is 147 Ruggles Street, Westboro,
Massachusetts 01581 (“Executive”), and BJ’s Wholesale Club, Inc., a Delaware corporation, whose principal office is One Mercer Road, Natick, Massachusetts (“Employer” or “Company”). 
 W I T N E S S E T H 
 WHEREAS, the Company desires to employ the Executive, and the Executive desires to be employed by the Company; 
 NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, the sufficiency of which is acknowledged by each party, and intending to be legally bound hereby, the Company
and Executive agree as follows: 
  

	 	1.	Employment and Duties. 

 1.1    Employment. 
 (a) Commencing on January 15, 2008 (the
“Effective Date”), the Company agrees to employ the Executive and the Executive agrees to be employed by the Company for a period of five (5) years, ending on January 15, 2013 (“Initial Term”). 
 (b) The Initial Term of this Agreement, and the employment of the Executive hereunder by the Company, may be renewed or
extended for such period or periods as may mutually be agreed upon by the Company and the Executive in writing. If this Agreement is not renewed and extended prior to the expiration of the Initial Term, this Agreement automatically shall terminate
at the expiration of the Initial Term. 
 1.2    Duties. As of the Effective Date, the Executive
shall serve the Company as its Executive Vice President, Merchandising and Logistics to serve in such capacity or other capacities as designated by the Board of Directors, the Chief Executive Officer (“CEO”) or his/her designee from time
to time. During the term of this Agreement, the Executive shall serve the Company faithfully, diligently and to the best of her ability and shall devote substantially all of her business time, energy and skill to the affairs of the Company as
necessary to perform the duties of her position, and she shall not assume a position in any other business without the express written permission of the CEO; provided that the Executive may upon disclosure to the CEO (i) serve in any
capacity with charitable or not-for-profit enterprises so long as there is no material interference with the Executive’s duties to the Company and (ii) the Executive does not

 
make any passive investments where the Executive is not obligated or required to, and shall not in fact, devote any managerial efforts. The Company shall have the right to limit the
Executive’s participation in any of the foregoing endeavors if the CEO believes, in his/her sole and exclusive discretion, that the time being spent on such activities infringes upon, or is incompatible with, the Executive’s ability to
perform the duties under this Agreement. 
  

	 	2.	Compensation and Benefits. 

 2.1    Base Salary. The Executive shall receive a Base Salary at the rate of $375,000 per year. Such Base Salary shall be subject to periodic adjustment from time to time as
determined by the Board of Directors in its sole discretion. Base Salary shall be payable in such manner and at such times as the Company shall pay base salary to other similarly situated the executive employees. 
 2.2    Policies and Fringe Benefits. The Executive agrees to abide by the rules, regulations, instructions,
personnel practices and policies of the Company and any changes therein that may be adopted from time to time by the Company. The Executive shall be eligible to participate in all benefit programs that the Company establishes and makes available to
all of its executives on such terms as the Board of Directors shall determine, if any, to the extent that the Executive meets the eligibility requirements to participate as set forth in the applicable plan or policy. Nothing herein limits the
Company’s right to modify, change, limit eligibility or discontinue any plan or policy at any time, with or without prior notice. 
 2.3    Reimbursement of Expenses. The Company shall reimburse the Executive for all reasonable and appropriate travel, entertainment and other expenses incurred or paid by the Executive in connection with, or
related to, the performance of her responsibilities or services under this Agreement, in accordance with policies and procedures, and subject to limitations, adopted by the Company from time to time. 
 2.4    Withholding. All salary and other compensation payable to the Executive pursuant to this Agreement shall
be subject to applicable taxes and withholdings. 
  

	 	3.	Termination of Employment and Benefits Upon Termination. 

 3.1    General. The Executive’s employment pursuant to this Agreement shall terminate upon the earliest to occur of (i) the Executive’s death, (ii) a
termination by reason of disability, (iii) a termination by the Company with or without Cause, (iv) a termination by the Executive, or (v) expiration of the Initial Term and any renewals or extensions thereof, unless at the expiration
of such Initial Term, renewals or extensions thereof the Company determines that the Executive’s employment will continue under separate terms and conditions. Whenever the Executive’s employment shall terminate, and regardless of the
reason for such termination, effective that same date she shall resign all offices, appointments and/or other positions the Executive may hold with the Company including, but not limited to, any parent corporation, subsidiaries or divisions of the
Company or any such parent. 
  

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 3.2    Termination Due to Death. The Executive’s employment
shall automatically terminate upon the date of the Executive’s death. No compensation or other benefits shall be payable to or accrue to the Executive hereunder except as follows: 
 (a) (i) all amounts earned but unpaid hereunder through the date of termination with respect to salary, automobile
allowance and vested but unused vacation; (ii) to the extent not already paid, any amounts to which the Executive is entitled under the Company’s annual incentive compensation plan for the fiscal year ended immediately prior to the date of
termination; (iii) his/her vested account balance under the BJ’s Wholesale Club, Inc. 401(k) Savings Plan for Salaried Employees; and (iv) any unreimbursed expenses incurred in accordance with Company policy (collectively,
“Earned Obligations”); 
 (b) any amounts the Executive would have been entitled to receive under the
Company’s annual incentive compensation plan had the Executive remained employed by the Company until the end of the fiscal year during which the termination of employment occurs (prorated for the period of active employment during such fiscal
year). All such amounts, if any, will be paid to the Executive’s estate at the same time as other incentive compensation plan payments for the year in which the termination occurs are paid; and 
 (c) any payments or benefits under other plans of the Company to the extent such plans provide for benefits following the
Executive’s death. 
 3.3    Termination Due to Disability. The Executive’s employment may
be terminated by reason of the Executive’s disability, upon notice to the Executive, in the event of the inability of the Executive to perform her duties hereunder by reason of disability, whether by reason of injury (physical or mental),
illness (physical or mental) or otherwise. For purposes of this Agreement, a disability is defined as the occurrence when the Executive is incapacitated for a continuous period exceeding one hundred twenty (120) days, as certified by a
physician selected by the Executive and the Company in good faith. No compensation or other benefits shall be payable to or accrue to the Executive hereunder except as follows: 
 (a) all Earned Obligations; 
 (b) any amounts the Executive would have been entitled to receive under the Company’s annual incentive compensation plan had the Executive remained employed by the Company until the end of the fiscal
year during which the termination of employment occurs (prorated for the period of active employment during such fiscal year). All such amounts, if any, will be paid at the same time as other incentive compensation plan payments for the year in
which the termination occurs are paid; and 
 (c) any payments or benefits under other plans of the Company to
the extent such plans provide for benefits following a termination of employment due to disability. 
 3.4    Termination by the Company for Cause or by the Executive. The Company may terminate the Executive’s employment at any time for Cause by providing the Executive notice of such termination. For the
purpose of this Agreement, termination by the Company for Cause shall refer to the Company’s termination of the Executive’s employment because it has determined, in its sole and exclusive discretion, that she has: (i) refused or
failed to devote her full normal working time, skills, knowledge, and abilities to the business of the Company and in

  

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promotion of its interests or she has failed to fulfill directives of the CEO, the CEO’s designee or the Board of Directors; (ii) engaged in activities involving dishonesty, willful
misconduct, willful violation of any law, rule, regulation or policy of the Company or breach of fiduciary duty; (iii) committed larceny, embezzlement, conversion or any other act involving the misappropriation of the Company’s funds or
property; (iv) been convicted of any crime which reasonably could affect in an adverse manner the reputation of the Company or the Executive’s ability to perform her duties hereunder; (v) been grossly negligent in the performance of
her duties; or (vi) materially breached this Agreement including, but not limited to, her obligations set forth in Sections 4 and 5 below. If the Executive’s employment terminates pursuant to this Section 3.4 by the Company for Cause
or by reason of the Executive’s resignation at any time, the Executive shall only receive the Earned Obligations, if any, through her termination date. Nothing herein waives any rights the Company may have for damages or equitable relief.

 3.5    Termination by the Company Without Cause. The Company may terminate the Executive’s
employment without Cause at any time effective upon the Executive’s receipt of notice of such termination. No compensation or other benefits shall be payable to or accrue to the Executive in the event of her termination without Cause except as
follows: 
 (a) all Earned Obligations; 
 (b) Subject to the Executive entering into a binding and irrevocable release of claims and separation agreement prepared by
the Company, the Executive shall be eligible to receive: 
 (1) continuation of Base Salary for a period of twenty-four
(24) months (the “Severance Period”), payable in such manner and at such times as the Executive’s Base Salary was being paid immediately prior to such termination; 
 (2) an amount equal to the difference between the Executive’s actual COBRA premium costs and the amount the Executive would have paid
had the Executive continued coverage as an employee under the Company’s applicable health plans without regard to the pre-tax benefits the Executive would have received under the BJ’s Wholesale Club, Inc. Flexible Benefits Plan provided
that the Executive elects to continue to participate in the Company’s medical and/or dental plans for team members pursuant to a valid COBRA election (and if and only if such participation is legally and contractually permissible) and provided,
however, that the Company’s obligations under this clause 3.5(b)(2) shall (A) not extend beyond the Severance Period, (B) be eliminated if the Executive discontinues COBRA benefits or (C) be reduced or eliminated to the extent
that the Executive receives similar coverage and benefits under the plans and programs of a subsequent employer or entity or becomes eligible for similar coverage under a spouse’s employer; 
 (3) any amounts the Executive would have been entitled to receive under the Company’s annual incentive compensation plan had the
Executive

  

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remained employed by the Company until the end of the fiscal year during which the termination of employment occurs (prorated for the period of active employment during such fiscal year). All
such amounts, if any, will be paid at the same time as other incentive compensation plan payments for the year in which the termination occurs are paid; and 
 (c) payments or benefits under other plans of the Company to the extent that the plans provide for benefits following a
termination of employment. 
 Notwithstanding the foregoing, the payments and benefits described in Section 3.5(b) above
shall immediately terminate, and the Company shall have no further obligations to the Executive with respect thereto, in the event that the Executive (i) becomes employed by Wal-Mart Stores, Inc., Costco Wholesale Corporation, Sam’s Clubs,
or any of their respective subsidiaries or affiliates; or (ii) breaches any provision of Sections 4 or 5 of this Agreement. 
  

	 	4.	Non-Competition and Non-Solicitation. 

 4.1    Restricted Activities. While the Executive is employed by the Company and for a period of twenty-four (24) months after the termination or cessation of such
employment for any reason, the Executive will not directly or indirectly: 
 (a) Engage in any business or
enterprise (whether as owner, partner, officer, director, employee, consultant, investor, lender or otherwise, except as the holder of not more than 1% of the outstanding stock of a publicly-held company) that is competitive with the Company’s
business. A business or enterprise shall be deemed competitive if it shall operate a chain of membership warehouse clubs (by way of example, but not limitation, Sam’s Club or Costco), warehouse stores selling food and/or general merchandise
that includes a warehouse store located within 10 miles of any “then existing” BJ’s Wholesale Club warehouse store, or any other business that competes with the Company. Competitive business or enterprise also includes any store or
business operated or owned by Wal-Mart Stores, Inc., Costco Wholesale Corporation, or any of the respective affiliates thereof. The term “then existing” shall refer to any such warehouse store that is, at the time of termination of the
Executive’s employment, operated by the Company or any of its subsidiaries or divisions or under lease for operation as aforesaid; or 
 (b) Either alone or in association with others (i) solicit, or permit any organization directly or indirectly controlled by the Executive to solicit, any employee of the Company to leave the employ
of the Company, or (ii) solicit for employment, hire or engage as an independent contractor, or permit any organization directly or indirectly controlled by the Executive to solicit for employment, hire or engage as an independent contractor,
any person who was employed by the Company at the time of the termination or cessation of the Executive’s employment with the Company; provided that this clause (ii) shall not apply to the solicitation, hiring or engagement of any
individual whose employment with the Company has been terminated for a period of six (6) months or longer at the time of such solicitation, hiring or employment. 
  

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 4.2    Extension of Restrictions. If the Executive violates the
provisions of Section 4.1, the twenty-four (24) month period referred to in Section 4.1 shall recommence and the Executive shall continue to be bound by the restrictions set forth in Section 4.1 until a period of twenty-four
(24) months has expired without any violation of such provisions. 
 4.3    Interpretation. If
any restriction set forth in Section 4.1 is found by any court of competent jurisdiction to be unenforceable because it extends for too long a period of time or over too great a range of activities or in too broad a geographic area, it shall be
interpreted to extend only over the maximum period of time, range of activities or geographic area as to which it may be enforceable. 
 4.4    Equitable Remedies. The restrictions contained in this Section 4 are necessary for the protection of the business and goodwill of the Company and are considered by the Executive to be reasonable for
such purpose. The Executive agrees that any breach of this Section 4 is likely to cause the Company substantial and irrevocable damage which is difficult to measure. Therefore, in the event of any such breach or threatened breach, the Executive
agrees that the Company, in addition to such other remedies which may be available, shall have the right to obtain an injunction from a court restraining such a breach or threatened breach and the right to specific performance of the provisions of
this Section 4, and the Executive hereby waives the adequacy of a remedy at law as a defense to such relief. 
  

	 	5.	Proprietary Information. 

 5.1    Proprietary Information. 
 (a) The Executive agrees that all
information, whether or not in writing, of a private, secret or confidential nature concerning the Company’s business, business relationships or financial affairs (collectively, “Proprietary Information”) is and shall be the exclusive
property of the Company. By way of illustration, but not limitation, Proprietary Information may include inventions, products, processes, methods, techniques, formulas, compositions, compounds, projects, developments, plans, research data, financial
data, personnel data, computer programs, customer and supplier lists, and contacts at or knowledge of customers or prospective customers of the Company. The Executive will not disclose any Proprietary Information to any person or entity other than
employees of the Company or use the same for any purposes (other than in the performance of her duties as an employee of the Company) without written approval by an executive officer of the Company, either during or after her employment with the
Company, unless and until such Proprietary Information has become public knowledge without fault by the Executive. 
 (b) The Executive agrees that all files, letters, memoranda, reports, records, data, sketches, drawings, laboratory notebooks, program listings, or other written, photographic, or other tangible material containing Proprietary Information,
whether created by the Executive or others, which shall come into her custody or possession, shall be and are the exclusive property of the Company to be used by the Executive only in the performance of her duties for the Company. All such materials
or copies thereof and all tangible property of the Company in the custody or possession of the Executive shall be

  

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delivered to the Company, upon the earlier of (i) a request by the Company or (ii) termination of her employment. After such delivery, the Executive shall not retain any such materials
or copies thereof or any such tangible property. 
 (c) The Executive agrees that her obligation not to disclose
or to use information and materials of the types set forth in paragraphs (a) and (b) above, and her obligation to return materials and tangible property set forth in paragraph (b) above also extends to such types of information,
materials and tangible property of customers of the Company or suppliers to the Company or other third parties who may have disclosed or entrusted the same to the Company or to the Executive. 
 5.2    Equitable Remedies. The restrictions contained in this Section 5 are necessary for the protection of
the business and goodwill of the Company and are considered by the Executive to be reasonable for such purpose. The Executive agrees that any breach of this Section 5 is likely to cause the Company substantial and irrevocable damage which is
difficult to measure. Therefore, in the event of any such breach or threatened breach, the Executive agrees that the Company, in addition to such other remedies which may be available, shall have the right to obtain an injunction from a court
restraining such a breach or threatened breach and the right to specific performance of the provisions of this Section 5, and the Executive hereby waives the adequacy of a remedy at law as a defense to such relief. 
 6.    Other Agreements. The Executive represents that her performance of all the terms of this Agreement
and the performance of her duties as an employee of the Company do not and will not breach any agreement with any prior employer or other party to which the Executive is a party (including without limitation any nondisclosure or non-competition
agreement). Any agreement to which the Executive is a party relating to nondisclosure, non-competition or non-solicitation of employees or customers is listed on Schedule A attached hereto. 
  

	 	7.	Miscellaneous. 

 7.1    Notices. Any notice delivered under this Agreement shall be deemed duly delivered four (4) business days after it is sent by registered or certified mail, return receipt requested, postage prepaid, or
one business day after it is sent for next-business day delivery via a reputable nationwide overnight courier service, in each case to the address of the recipient set forth in the introductory paragraph hereto. Either party may change the address
to which notices are to be delivered by giving notice of such change to the other party in the manner set forth in this Section 7.1. 
 7.2    Pronouns. Whenever the context may require, any pronouns used in this Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular
forms of nouns and pronouns shall include the plural, and vice versa. 
 7.3    Entire Agreement.
This Agreement constitutes the entire agreement between the parties and supersedes all prior agreements and understandings, whether written or oral, relating to the subject matter of this Agreement, including but not limited to the Employment
Agreement dated December 1, 2000 entered into by the Company and the Executive. 
  

 7 

 7.4    Amendment. This Agreement may be amended or modified only
by a written instrument executed by both the Company and the Executive. 
 7.5    Governing Law. This
Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts (without reference to the conflicts of laws provisions thereof), except as may be preempted by the Employee Retirement Income Security Act
of 1974 (“ERISA”), 29 U.S.C. §1001 et seq. Any action, suit or other legal proceeding arising under or relating to any provision of this Agreement shall be commenced only in a court of the Commonwealth of Massachusetts (or, if
appropriate, a federal court located within Massachusetts), and the Company and the Executive each consents to the jurisdiction of such a court. The Company and the Executive each hereby irrevocably waives any right to a trial by jury in any action,
suit or other legal proceeding arising under or relating to any provision of this Agreement. 
 7.6    Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of both parties and their respective successors and assigns, including any corporation with which, or into which, the
Company may be merged or which may succeed to the Company’s assets or business; provided, however, that the obligations of the Executive are personal and shall not be assigned by him/her. 
 7.7 Waivers. No delay or omission by the Company in exercising any right under this Agreement shall operate as a waiver of that or
any other right. A waiver or consent given by the Company on any one occasion shall be effective only in that instance and shall not be construed as a bar or waiver of any right on any other occasion. Notwithstanding the foregoing, if the Company is
merged with or into a third party which is engaged in multiple lines of business, or if a third party engaged in multiple lines of business succeeds to the Company’s assets or business, then for purposes of Section 4.1(a), the term
“Company” shall mean and refer to the business of the Company as it existed immediately prior to such event and as it subsequently develops and not to the third party’s other businesses. 
 7.8 Captions. The captions of the sections of this Agreement are for convenience of reference only and in no way define, limit or
affect the scope or substance of any section of this Agreement. 
 7.9 Severability. In case any provision of this
Agreement shall be invalid, illegal or otherwise unenforceable, the validity, legality and enforceability of the remaining provisions shall in no way be affected or impaired thereby. 
 * * * * * 
  

 8 

 THE EXECUTIVE ACKNOWLEDGES THAT SHE HAS CAREFULLY READ 
 THIS AGREEMENT AND UNDERSTANDS AND AGREES TO ALL OF THE 
 PROVISIONS IN THIS AGREEMENT. 
 IN WITNESS WHEREOF, the parties hereto have
executed this Agreement as of the day and year set forth above. 
 BJ’S WHOLESALE CLUB, INC. 
  

			
		
	 /s/ Herbert J Zarkin
 Herbert J Zarkin
	 	 /s/ Christina M. Neppl-Totino
 Christina M. Neppl-Totino

	 Chairman of the Board
 Chief
Executive Officer
	 	 Executive Vice President, Merchandising
 and Logistics

		
	ATTEST: /s/ Carol A.
Levine                                        
                	 	WITNESS: /s/ Linda
Koed                                         
                   

  
  
  

 9 

 SCHEDULE A 
 Agreements containing Restrictive Covenants 
  
  
  
  
 Schedule A 
 Executive’s
Initials_________

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