Document:

FORM OF NONSTATUTORY STOCK OPTION AGREEMENT

 Exhibit 10.4 
  
 BJ’S WHOLESALE CLUB, INC. 
 NONSTATUTORY STOCK OPTION AGREEMENT 
 GRANTED UNDER 1997 STOCK INCENTIVE PLAN 

 
 Series 97 
  

	1.	Grant of Option. 

  
 This agreement evidences the grant by BJ’s Wholesale Club, Inc., a Delaware corporation (the “Company”), on the Date of Grant shown below
to the Participant named below, of an option to purchase, in whole or in part, on the terms provided herein and in the Company’s 1997 Stock Incentive Plan (the “Plan”), the Number of Shares of the Company’s Common Stock as shown
below (the “Shares”) at the Option Price per Share shown below. Unless earlier terminated, this option shall expire on the Final Exercise Date shown below. 
  
 Date of Grant: «date» 
  

Participant: «name» 
  
 Number of Shares: «shares» 
  
 Option Price per Share: «price» 
  
 Final Exercise Date: «date» 
  

	2.	Vesting Schedule. 

  
 This option will become exercisable on a cumulative basis as specified below. 
  
 «vest1» shares beginning «date» 
  
 «vest2» shares beginning «date» 
  
 «vest3» shares beginning «date» 
  
 «vest4» shares beginning «date» 
  
 The right of exercise shall be cumulative so that to the extent the option is not exercised in any period to the maximum
extent permissible it shall continue to be exercisable, in whole or in part, with respect to all shares which have become exercisable until the earlier of the Final Exercise Date or the termination of this option under Section 3 hereof or the Plan.

  

	3.	Exercise of Option. 

  
 (a) Form of Exercise. Each election to exercise this option shall be in writing, signed by the Participant, and received by the Company at its
principal office, accompanied by this agreement and payment in full by cash, personal check, check from a member of the New York Stock Exchange, delivery of shares of Common Stock (valued at their fair market value as determined by the Board in good
faith) owned by the Participant at least six months prior to such delivery, or otherwise in accordance with the Plan. The Participant may purchase less than the number of shares covered hereby, provided that no partial exercise of this option may be
for any fractional share or for fewer than ten whole shares. 
  

 (b) Continuous Relationship with the Company Required. Except as otherwise provided in this
Section 3, this option may not be exercised unless the Participant, at the time he or she exercises this option, is, and has been at all times since the date of grant of this option, an employee, officer or director of the Company or any parent or
subsidiary of the Company as defined in Section 424(e) or (f) of the Internal Revenue Code of 1986, as amended (the “Code”) (an “Eligible Participant”). 
  
 (c) Termination of Relationship with the Company. If the Participant ceases to be an Eligible Participant for any
reason, then, except as provided in paragraphs (d), (e) and (f) below, the right to exercise this option shall terminate three months after such cessation (but in no event after the Final Exercise Date), provided that this option shall be
exercisable only to the extent that the Participant was entitled to exercise this option on the date of such cessation. 
  
 (d) Exercise Period Upon Death or Disability. If the Participant dies or becomes disabled (within the meaning of Section 22(e)(3) of the Code)
prior to the Final Exercise Date while he or she is an Eligible Participant and the Company has not terminated such relationship for “Cause” as specified in paragraph (f) below, this option shall be exercisable within the period of one
year following the date of death or disability provided that (i) this option shall be exercisable only to the extent that this option was exercisable by the Participant on the date of his or her death or disability, and (ii) the death of a
Participant during such exercise period shall extend such period until one year following death. Notwithstanding the foregoing, this option shall in no event be exercisable after the Final Exercise Date. 
  
 (e) Exercise Period Upon Normal Retirement. If the Participant’s
employment by the Company terminates on or after the Participant’s Normal Retirement Date (as defined below) prior to the Final Exercise Date while he or she is an Eligible Participant and the Company has not terminated such relationship for
“Cause” as specified in paragraph (f) below, this option shall be exercisable within the period of one year following such termination. Shares shall continue to become exercisable during such period in accordance with section 2 of this
option agreement. The death of Participant during the post-retirement exercise period shall extend such period until one year following death. Notwithstanding the foregoing, this option shall in no event be exercisable after the Final Exercise Date.
“Normal Retirement Date” shall mean the date on which the sum of Participant’s age and completed years of uninterrupted service as an employee of the Company equals 65. 
  

 (f) Discharge for Cause. If the Participant, prior to the Final Exercise Date, is discharged by
the Company for “Cause” (as defined below), the right to exercise this option shall terminate immediately upon the effective date of such discharge. “Cause” shall mean a felony conviction of a Participant or the failure of a
Participant to contest prosecution for a felony, or a Participant’s willful misconduct or dishonesty, any of which is directly harmful to the business or reputation of the Company, as determined by the Company, which determination shall be
conclusive. The Participant shall be considered to have been discharged for “Cause” if the Company determines, within 30 days after the Participant’s resignation, that discharge for Cause was warranted. 
  

	4.	Taxes and Withholding. 

  
 It is intended that the option evidenced by this agreement shall not be an incentive stock option as defined in Section 422 of the Internal Revenue Code
of 1986, as amended (the “Code”). No Shares will be issued pursuant to the exercise of this option unless and until the Participant pays to the Company, or makes provision satisfactory to the Company for payment of, any federal, state or
local taxes required by law to be withheld in respect of this option. 
  

	5.	Nontransferability of Option. 

  
 This option may not be sold, assigned, transferred, pledged or otherwise encumbered by the Participant, either voluntarily or by operation of law, except
by will or the laws of descent and distribution, and, during the lifetime of the Participant, this option shall be exercisable only by the Participant. Except as otherwise indicated by the context, the “Participant,” as used in this
option, shall be deemed to include any person who acquires the right to exercise this option validly under its terms. 
  

	6.	Provisions of the Plan. 

  
 This option is subject to the provisions of the Plan, a copy of which is furnished to the Participant with this option. 
  
 IN WITNESS WHEREOF, the Company has caused this option to be executed under
its corporate seal by its duly authorized officer. This option shall take effect as a sealed instrument. 
  

			
	 BJ’S WHOLESALE CLUB, INC.

		
	 By:
	 	 
	 Title:
	 	President and C.E.O.

  

 PARTICIPANT’S ACCEPTANCE 
  
 The undersigned Participant hereby accepts the foregoing option and agrees to the terms and conditions thereof. The
undersigned hereby acknowledges receipt of a copy of the Company’s 1997 Stock Incentive Plan. 
  

	
	
	 

  
 RECORD OF
EXERCISE 
 (To be completed by the Company) 
  

					
	 NUMBER OF SHARES
 PURCHASED UNDER
 OPTION

	  	 DATE OF
 EXERCISE

	  	 OFFICIAL
 SIGNATUREFORM OF RESTRICTED STOCK AGREEMENT

 Exhibit 10.5 
  
 Restricted Stock 
  
 __________________ 
 Name of Employee 

 
 BJ’S WHOLESALE CLUB, INC. 
 1997 STOCK INCENTIVE PLAN 
  
 Restricted Stock Award Agreement 
  
 BJ’s Wholesale Club, Inc. 
 Natick, MA 01760 
 Attention: Treasurer 
  
 Dear Sir: 
  
 I acknowledge
receipt of (i) a Notification of Grant (the “Award”) to me of Restricted Stock of BJ’s Wholesale Club, Inc. (the “Company”) dated [date]; (ii) a copy of the BJ’s Wholesale Club, Inc. 1997 Stock Incentive Plan (the
“1997 Plan”); and (iii) a copy of a Prospectus describing the 1997 Plan, and (iv) a copy of the Company’s [most recent] Annual Report. 
  
 In consideration of the Award, I hereby agree with the Company as follows: 
  
 1. During the period of time that any of the shares granted under the Award are restricted as set forth in the Award, and
thereafter, if an event requiring me to forfeit said shares to BJ’s Wholesale Club, Inc. shall have occurred, the shares of Common Stock acquired by me pursuant to this Restricted Stock Award Agreement shall not be sold, transferred, pledged or
otherwise disposed of except as specifically provided in this Agreement. 
  
 2. In the event of termination of my employment, I or my legal representative shall immediately forfeit and deliver to the Company all restricted shares. In the event my employment is terminated and I nevertheless
fail or refuse to deliver such restricted shares to the Company, I agree that such restricted shares shall nevertheless be deemed to have been forfeited pursuant to the 1997 Plan and all my rights as a shareholder with respect to such restricted
shares shall terminate. 
  

 3. All stock certificates evidencing shares of Common Stock of the Company issued pursuant to the Award
and this Agreement shall bear a restrictive legend as follows: 
  
 THE REGISTERED OWNER OF THE SHARES OF COMMON STOCK REPRESENTED BY THE WITHIN CERTIFICATE HAS AGREED NOT TO SELL, TRANSFER, PLEDGE OR OTHERWISE DISPOSE OF SUCH SHARES EXCEPT AS SPECIFICALLY PROVIDED IN THE RESTRICTED STOCK AWARD AGREEMENT
EXECUTED IN CONNECTION WITH THE ACQUISITION OF SAID SHARES, A COPY OF WHICH IS ON FILE AT THE OFFICE OF THE SECRETARY OF THE COMPANY. UNDER CERTAIN CONDITIONS SET FORTH IN SAID AGREEMENT, THE REGISTERED OWNER OF THE SHARES REPRESENTED BY THE WITHIN
CERTIFICATE IS OBLIGATED TO OFFER SUCH SHARES TO THE COMPANY FOR FORFEITURE. THE FOREGOING RESTRICTIONS SHALL LAPSE AS TO SHARES NOT SO FORFEITED, AT THE TIMES AND IN THE MANNER PROVIDED IN THE AGREEMENT. 
  
 4. I understand that the shares of Common Stock acquired pursuant to this
Restricted Stock Award Agreement may be evidenced by several certificates, one certificate for each year with respect to which restrictions will lapse as provided in the Award. Each certificate evidencing shares of Restricted Stock shall remain in
the possession of the Company until such shares are free of all restrictions. 
  
 5. I understand that the Company has on file with the Securities and Exchange Commission an effective Registration Statement under the Securities Act of 1933. I understand that once shares have become free of
restrictions, new certificates will be issued by the Company’s Transfer Agent without the legend provided for in Section 3 hereof, and that I will be free to sell the shares of Common Stock evidenced by such certificates, subject to applicable
requirements of federal and state securities laws. 
  
 Very truly yours, 
  

 Restricted Stock 
  
 __________________ 
 Name of Employee 
  
 BJ’S WHOLESALE CLUB, INC.

  
 1997 STOCK INCENTIVE PLAN 
  
 Notification of Grant 
  
 This is to advise you that the Executive Compensation Committee of BJ’s
Wholesale Club, Inc. (the “Company”) has voted to grant you, effective [date], [number] (number) restricted shares of Common Stock of the Company pursuant to the 1997 Stock Incentive Plan (the “1997 Plan”). Enclosed is a copy of
the 1997 Plan and a copy of the prospectus describing the 1997 Plan. The restrictions on the shares acquired by you under the grant will lapse as to [number] shares on [specify date] subject to your continued employment by the Company or its
Subsidiaries; provided, however, that upon the occurrence of a Change of Control (as defined in the 1997 Plan) while you are so employed, all such restrictions shall automatically be deemed waived. 
  
 In order to accept the shares issued pursuant to this grant, you must sign
both copies of the enclosed Restricted Stock Award Agreement and return one copy to Frank Forward, Executive Vice President, Chief Financial Officer (Rt. 22). 
  

The stock certificates evidencing your shares will be held by the Company until such time as the restrictions lapse. The certificates will initially
bear a legend which makes them non-transferable for any purpose. You will not be able to sell, pledge, make a gift, or otherwise dispose of the certificates bearing this legend. On the date upon which restrictions lapse or upon a Change of Control
(as defined in the 1997 Plan) before all shares have become free of restrictions (assuming in either case that you are then an employee of the Company or a Subsidiary), you will be entitled to receive a new certificate, not bearing any legend, for
the number of shares that have become free of restrictions. 
  

	
	Sincerely,
	
	 
	President and CEO

  
 [date]

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