Document:

Form of Stock Incentive Plan - Performance Based Restricted Stock Award

 EXHIBIT 10(k) 
  

	
	Name of Grantee:
	Grant Date:
	Number of Shares:
	Social Security Number:

 WAL-MART STORES,
INC. 
 STOCK INCENTIVE PLAN OF 2005 
 PERFORMANCE-BASED RESTRICTED STOCK AWARD 
 NOTIFICATION OF AWARD AND TERMS
AND CONDITIONS OF AWARD 
 This Performance-Based Restricted Stock Award Agreement (the “Agreement”) contains the terms and
conditions of the performance-based restricted stock award granted to you by Wal-Mart Stores, Inc., a Delaware corporation (“Wal-Mart”), under the Wal-Mart Stores, Inc. Stock Incentive Plan of 2005, as amended from time to time (the
“Plan”). 
 1. Grant of Restricted Stock. Wal-Mart has granted to you, effective on the Grant Date (shown above), the right to
receive the number of shares shown above of the common stock of Wal-Mart, par value $0.10 per share (“Shares”), at the end of the vesting period (as defined below). Before the Shares are vested, they are referred to in this Agreement as
“Performance-Based Restricted Stock.” 
 2. The Plan Governs. The award and this Agreement are subject to the terms and
conditions of the Plan. The Plan is incorporated in this Agreement by reference and all capitalized terms used in this Agreement have the meaning set forth in the Plan, unless this Agreement specifies a different meaning. By accepting this
Agreement, you acknowledge receipt of a copy of the Plan and the prospectus covering the Plan and acknowledge that the award is subject to all the terms and provisions of the Plan and this Agreement. You further agree to accept as binding,
conclusive, and final all decisions and interpretations by the Committee of the Plan upon any questions arising under the Plan, including whether, and the extent to which, the performance goals described in Paragraph 5B. have been satisfied.

 3. Payment. The Performance-Based Restricted Stock is granted without requirement of payment. However, if the Shares have not been
previously issued, you must pay the par value ($0.10) per Share no later than 10 business days after the Grant Date. You will be advised if this is the case and you will be given payment instructions at that time. 
 4. Stockholder Rights. Your Performance-Based Restricted Stock will be held for you by Wal-Mart until the applicable Vesting Date. You shall have all
the rights of a stockholder on shares of Performance-Based Restricted Stock that vest. With respect to your unvested Performance-Based Restricted Stock, 
 A. You shall have the right to vote such shares at any meeting of stockholders of Wal-Mart; 
 B. You shall have and the right to receive, free of vesting restrictions (but subject to applicable withholding taxes) all cash dividends paid with respect to such shares; and 

 C. Any non-cash dividends and other non-cash proceeds of such shares, including stock
dividends and any other securities issued or distributed in respect of such shares shall be subject to the same vesting and forfeiture conditions as the shares of Performance-Based Restricted Stock to which they relate, and the term
“Performance-Based Restricted Stock” when used in this Agreement shall also include any related stock dividends and other securities issued or distributed in respect of such shares. 
 5. Vesting of Performance-Based Restricted Stock Award. 
 A. Your Performance-Based Restricted Stock will vest as follows, provided you have not previously incurred a Forfeiture Condition described in Paragraph 5B. below: 
  

			
	 Percentage of shares vesting
	  	Vesting Date
		  	
		  	
		  	

 B. Forfeiture Conditions. 
 1. Satisfaction of Performance Goals. Within 90 days of the beginning of the performance period, the Committee will adopt one or more
performance goals which must be met or exceeded during one or more performance periods as a condition precedent to the vesting of the Performance-Based Restricted Stock. Those performance goals will be communicated to you in a separate writing,
which will be incorporated by reference into this Agreement. Unless the Company meets or exceeds the applicable performance goal or goals for the applicable performance period or periods, as certified by the Committee in accordance with the Plan,
your Performance-Based Restricted Stock award that would otherwise vest in whole or in part on any Vesting Date will not vest and shall be immediately forfeited as of the last day of such performance period. 
 2. Other Forfeiture Conditions. Subject to Paragraph 5C. below, your Performance-Based Restricted Stock that would otherwise vest on a
Vesting Date will not vest and shall be forfeited if, after the Grant Date and prior to the Vesting Date, your continuous status as an Associate terminates or after the Grant Date and on or prior to the Vesting Date, 
 a. You: (i) have become or (ii) are discussing or negotiating the possibility of becoming, or (iii) are considering an offer
to become or have accepted an offer or entered into an agreement to become an employee, officer, director, partner, manager, consultant to, or agent of, or otherwise becoming affiliated with, any entity competing or seeking to compete with Wal-Mart
or an Affiliate; or 
  

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 b. You are subject to an administrative suspension, unless you are reinstated as an
Associate in good standing at the end of the administrative suspension period, in which case the applicable number of shares of Performance-Based Restricted Stock would vest as of the date of such reinstatement; or 
 c. You have not executed and delivered to the Company a Non-Disclosure and Restricted Use Agreement in a form to be provided to you by the
Company. 
 C. Accelerated Vesting; Vesting Notwithstanding Termination. Your Performance-Based Restricted Stock will vest
earlier than described in Paragraph 5A, and such earlier vesting date shall also be considered a “Vesting Date,” under the following circumstances: 
 1. If your Continuous Status as an Associate is terminated by your Disability, your Performance-Based Restricted Stock that would have become vested on a Vesting Date occurring no more than 3 months after
your Continuous Status as an Associate is so terminated will become vested on the date your Continuous Status as an Associate is so terminated. “Disability” for this purpose means you have a physical or mental condition resulting from
bodily injury, disease or mental disorder that constitutes total disability under the Federal Social Security Act and for which you have actually been approved for Social Security disability benefits. 
 2. If you Retire, your Performance-Based Restricted Stock that would have become vested on a Vesting Date occurring no more than 3 months
after you Retire will become vested on the day you Retire. “Retire” means that you cease to be a full-time Associate (other than for Cause) upon or after reaching age 65. 
 3. If your Continuous Status as an Associate is terminated by your death on or after ten years of service or on or after the third
anniversary of the Grant Date, your Performance-Based Restricted Stock shall immediately become fully vested. 
 4. The Committee
may, in its discretion, at any time accelerate the vesting of your Performance-Based Restricted Stock on such terms and conditions as it deems appropriate. 
 D. Mandatory Deferral of Vesting. If the vesting of Performance-Based Restricted Stock in any year could, in the Committee’s opinion, when considered with your other compensation, result in
Wal-Mart’s inability to deduct the value of your Shares because of the limitation on deductible compensation under Internal Revenue Code Section 162(m), then Wal-Mart in its sole discretion may defer the Vesting Date applicable to your
Performance-Based Restricted Stock (but only to the extent that, in the Committee’s judgment, the value of your Performance-Based Restricted Stock would not be deductible) until six months following the termination of your Associate status.

 E. Elective Deferral of Restricted Stock. If you are eligible to make deferrals under the Plan in accordance with
Section 7.8 of the Plan and rules and procedures relating thereto,

  

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you will be given the opportunity to defer the Vesting Date applicable to your Performance-Based Restricted Stock. If this is the case, you will be advised as to when any such deferral election
must be made. Deferrals must be made in the form of Shares. 
 6. Forfeiture of Performance-Based Restricted Stock. If you suffer a
forfeiture condition pursuant to Paragraph 5B., you will immediately forfeit your Performance-Based Restricted Stock (including any cash dividends and non-cash proceeds related to the Performance-Based Restricted Stock for which the record date
occurs on or after the date of the forfeiture), and all of your rights to and interest in the Performance-Based Restricted Stock shall terminate upon forfeiture without payment of consideration (except that if you paid par value for the
Performance-Based Restricted Stock the par value of the forfeited shares of Performance-Based Restricted Stock will be returned to you). Forfeited Performance-Based Restricted Stock shall be reconveyed to Wal-Mart. 
 7. Taxes and Tax Withholding. 
 A. Upon the vesting of your Performance-Based Restricted Stock, you will have income in the amount of the value of the Shares that become vested on the Vesting Date, and you must pay income tax on that income. 
 B. You agree to consult with any tax consultants you think advisable in connection with your Performance-Based Restricted Stock and
acknowledge that you are not relying, and will not rely, on Wal-Mart for any tax advice. Please see Section 9.F. regarding Section 83(b) elections. 
 C. Whenever any Performance-Based Restricted Stock becomes vested under the terms of this Agreement, you must remit, on or prior to the due date thereof, the minimum amount necessary to satisfy all of the
federal, state and local withholding (including FICA) tax requirements imposed on Wal-Mart (or the Affiliate that employs you) relating to your Shares. The Committee may require you to satisfy these minimum withholding tax obligations by any (or a
combination) of the following means: (1) a cash payment; (2) authorizing Wal-Mart to withhold from the Shares otherwise deliverable to you as a result of the vesting of the Performance-Based Restricted Stock, a number of Shares having a
Fair Market Value, as of the date the withholding tax obligation arises, less than or equal to the amount of the withholding obligation; or (3) withholding from compensation otherwise payable to you. 
 8. Performance-Based Restricted Stock Not Transferable. Neither the Performance-Based Restricted Stock, nor your interest in the Performance-Based
Restricted Stock, may be sold, conveyed, assigned, transferred, pledged or otherwise disposed of or encumbered at any time prior to vesting applicable to any award of Performance-Based Restricted Stock issued in your name. Any attempted action in
violation of this paragraph shall be null, void, and without effect. 
 9. Other Provisions. 
 A. The value of the Shares under this Agreement will not be taken into account in computing the amount of your salary or other compensation
for purposes of determining

  

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any pension, retirement, death, or other benefit under any employee benefit plan of Wal-Mart or any Affiliate, except to the extent such plan or another agreement between you and Wal-Mart
specifically provides otherwise. 
 B. Wal-Mart may, without liability for its good faith actions, place legend restrictions upon
the Performance-Based Restricted Stock or unrestricted Shares obtained upon vesting of the Performance-Based Restricted Stock and issue “stop transfer” instructions requiring compliance with applicable securities laws and the terms of the
Performance-Based Restricted Stock. 
 C. Determinations regarding this Agreement (including, but not limited to whether an event
has occurred resulting in the forfeiture of or vesting of Performance-Based Restricted Stock) shall be made by the Committee in accordance with this Agreement, and all determinations of the Committee shall be final and conclusive and binding on all
persons. 
 D. Neither this Agreement nor the Plan creates any contract of employment, and nothing in this Agreement or the Plan
shall interfere with or limit in any way the right of Wal-Mart or an Affiliate to terminate your employment or service at any time, nor confer upon you the right to continue in the employ of Wal-Mart and/or Affiliate. Nothing in this Agreement or
the Plan creates any fiduciary or other duty to you owed by Wal-Mart, any Affiliate, or any member of the Committee except as expressly stated in this Agreement or the Plan. 
 E. Wal-Mart reserves the right to amend the Plan at any time. The Committee reserves the right to amend this Agreement at any time.

 F. By accepting this Agreement, 
 1. You agree to provide any information reasonably requested from time to time, and 
 2. You agree not to make an Internal Revenue Code Section 83(b) election with respect to this award of Performance-Based Restricted Stock. 
 G. This Agreement shall be construed under the laws of the State of Delaware. 
 Grantee:

 I acknowledge having received, read and understood the Plan and this Agreement. I accept the terms and conditions of my Performance-Based
Restricted Stock Award as set forth in this Agreement, subject to the terms and conditions of the Plan 
 By:                                       
                                  
 Name (please
print):                                        
 
 Agreed to and accepted this      day of
                    , 2010. 
  

 5Form of Post-Termination Agreement and Covenant Not to Compete

 EXHIBIT 10(p) 
 POST-TERMINATION AGREEMENT 
 AND COVENANT NOT TO
COMPETE 
 This Post-Termination Agreement and Covenant Not to Compete (this “Agreement”) is entered into as
of                         ,              by and
between Wal-Mart Stores, Inc., its subsidiaries and affiliates (collectively, “Walmart”) and
                         (“Associate”). 
 RECITALS 
 WHEREAS, Walmart proposes that
Associate: (a) be permitted to continue Associate’s at will employment with Walmart; and (b) receive a restricted stock award of $                
of Walmart shares of common stock (the “Restricted Stock Award”); and 
 WHEREAS, as consideration for and as a
condition of: (a) Associate continuing Associate’s at will employment with Walmart; and (b) receiving the Restricted Stock Award (collectively, the “Special Items”), Associate is required to execute and deliver this
Agreement to Walmart; and 
 WHEREAS, the parties agree that this Agreement shall supersede and replace in its entirety
the Restricted Stock Grant, Post-Termination Agreement and Covenant Not to Compete between the Associate and Walmart dated                 , as amended by the
Amendment to Agreement between the Associate and Walmart dated                  (collectively, the “Post-Termination Agreement”). 
 AGREEMENT 
 NOW, THEREFORE, in consideration of the premises and the acknowledgments, covenants, representations, warranties and agreements contained herein and for other good and valuable consideration, including but not limited to the Special
Items being conveyed to Associate by Walmart, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 
 1. ACKNOWLEDGMENTS. As part of this Agreement, the parties specifically acknowledge that: 
 (A) Walmart is a major retail operation, with stores located throughout the United States, territories of the United States and in certain foreign countries; 
 (B) Associate has served as
                                     for a number of years,
which appointment was made by the Walmart Board of Directors and which position is a key officer position; 
  

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 (C) As an essential part of its business, Walmart has cultivated, established and maintained
long-term customer and vendor relationships and goodwill and competitive advantages, which are difficult to develop and maintain, have required and continue to require a significant investment of time, effort, and expense, and that can suffer
significantly and irreparably upon the departure of key officers, regardless of whether the officer has been personally involved in developing or maintaining the relationships, goodwill or competitive advantages; 
 (D) In the development of its business, Walmart has expended a significant amount of time, money, and effort in developing, maintaining, and
protecting private, sensitive, confidential, proprietary, and trade secret information including but not limited to, information regarding Walmart’s products or services, strategies, research and development efforts, logistics, transportation,
selling and delivery plans, geographic markets, developing or potential geographic markets, developing or potential product markets, mergers, acquisitions, divestitures, data, business methods, computer programs and related source and object code,
supplier and customer relationships, contacts and information, methods or sources of product manufacture, know-how, product or service cost or pricing, personnel allocation or organizational structure, business, marketing, development and expansion
or contraction plans, information concerning the legal or financial affairs of Walmart, any other non-public information, and any other information protected by the Nondisclosure and Restricted Use Agreement executed by Associate (collectively,
“Confidential Information”), the disclosure or misuse of which could cause irreparable harm to Walmart’s business, anticipated business, and its competitive position in the retail marketplace; 
 (E) Associate has had access to such Confidential Information in Associate’s current key officer position that would be of considerable
value to Walmart’s global and domestic competitors and potential competitors and Associate will continue to have access to Confidential Information that would be of considerable value to Walmart’s global and domestic competitors and
potential competitors; and 
 (F) Associate acknowledges that Walmart is entitled to take appropriate steps to ensure:
(i) that its associates do not misappropriate or make any other improper use of Confidential Information; (ii) that no individual associate, competitor or potential competitor gains an unfair, competitive advantage over Walmart; and
(iii) that its competitors and potential competitors do not improperly gain access to or make any use of Confidential Information in their efforts to compete against, or cause harm to, Walmart. 
 2. TRANSITION PAYMENTS. For purposes of this Agreement, the term “Transition Period” means a period of two (2) years
from the effective date of Associate’s termination of employment with Walmart. If Walmart terminates Associate’s employment, Walmart will pay Associate during the Transition Period an amount equal to Associate’s base salary at the
rate in effect on the date of termination (“Transition Payments”), subject to such withholding as may be required by law and subject to the conditions set forth in this Section 2. Transition Payments will commence and be paid at the
times and in the amounts provided in Section 2(E). 
  

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 (A) Transition Payments will not be paid if Associate is terminated as the result of
Associate’s violation of any Walmart policy. 
 (B) No Transition Payments will be paid if Associate voluntarily resigns or
retires from employment with Walmart. 
 (C) Given the availability of other programs designed to provide financial protection
in such circumstances, Transition Payments will not be paid under this Agreement if Associate dies or becomes disabled. If Associate dies during the Transition Period, Transition Payments will cease, and Associate’s heirs will not be entitled
to the continuation of such payments. Transition Payments will not be affected by Associate’s disability during the Transition Period. 
 (D) Associate’s violation of the obligations under Sections 4, 5 or 6, below, or any other act that is materially harmful to Walmart’s business interests during the Transition Period, will
result in the immediate termination of the Transition Payments, the recovery of the Transition Payments already made, and any other remedies that may be available to Walmart. 
 (E) Transition Payments will be paid as follows: 
 (i) The first Transition Payment shall be an amount equal to six months of the Associate’s base salary, less applicable
withholding, and shall be paid within thirty (30) days following termination; and 
 (ii) Subsequent
Transition Payments shall commence on the first regularly scheduled pay period following six (6) months after Associate’s termination and shall be made during each regularly scheduled pay period thereafter during the Transition Period.
Each Transition Payment shall be the amount which would have continued as part of Associate’s regular base salary, less applicable withholding, and shall be made in the regularly scheduled payroll cycle, subject to the terms and conditions of
this Agreement. 
 (F) Receipt of Transition Payments will not entitle Associate to participate during the Transition Period in
any other incentive, restricted stock, performance share, stock option, stock incentive, profit sharing, management incentive or other associate benefit plans or programs maintained by Walmart; except, that, Associate will be entitled to participate
in such plans or programs to the extent that the terms of the plan or program provide for participation by former associates. Such participation, if any, shall be governed by the terms of the applicable plan or program. 
 3. BENEFITS. Associate will be eligible for all other payments and benefits accrued and owing at the time of termination.
Participation in all other benefit programs available to current associates will end on the effective date of Associate’s termination, subject to Associate’s rights under COBRA to continue group medical and dental coverage for eighteen
(18) months, pursuant to the terms of COBRA, which are currently extended to terminating Walmart associates. 
  

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 4. COVENANT NOT TO COMPETE. Due to the strategic, sensitive and far-reaching nature
of the Associate’s current position at Walmart, and the Confidential Information to which the Associate is and has been exposed, Associate agrees, promises, and covenants that: 
 (A) For a period of two (2) years from the date on which Associate’s employment with Walmart terminates, and regardless of the
cause or reason for such termination, Associate will not directly or indirectly: 
 (i) own, manage, operate,
finance, join, control, advise, consult, render services to, have a current or future interest in, or participate in the ownership, management, operation, financing, or control of, or be employed by or connected in any manner with, any Competing
Business as defined below in Section 4(B)(i) and/or any Global Retail Business as defined below in Section 4(B)(ii); and/or 
 (ii) participate in any other activity that risks the use or disclosure of Confidential Information either overtly by the Associate or inevitably through the performance of such activity by the Associate;
and/or 
 (ii) solicit for employment, hire or offer employment to, or otherwise aid or assist any person or
entity other than Walmart in soliciting for employment, hiring, or offering employment to, any Officer, Officer Equivalent or Management Associate of Walmart, or any of its subsidiaries or affiliates. 
 (B)(i) For purposes of this Agreement, the term “Competing Business” shall include any general or specialty retail, grocery,
wholesale membership club, or merchandising business, inclusive of its respective parent companies, subsidiaries and/or affiliates that: (a) sells goods or merchandise at retail to consumers and/or businesses (whether through physical
locations, via the internet or combined) or has plans to sell goods or merchandise at retail to consumers and/or businesses (whether through physical locations, via the internet or combined) within twelve (12) months following Associate’s
last day of employment with Walmart in the United States; and (b) has gross annual consolidated sales volume or revenues attributable to its retail operations (whether through physical locations, via the internet or combined) equal to or in
excess of U.S.D. $5 billion. 
 (ii) For purposes of this Agreement, the term “Global Retail Business” shall include
any general or specialty retail, grocery, wholesale membership club, or merchandising business, inclusive of its respective parent companies, subsidiaries and/or affiliates, that: (a) in any country or countries outside of the United States in
which Walmart conducts business or intends to conduct business in the twelve (12) months following Associate’s last day of employment with Walmart, sells goods or merchandise at retail to consumers and/or businesses (whether through
physical locations, via the internet or combined); and (b) has gross annual consolidated sales volume or revenues attributable to its retail operations

  

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(whether through physical locations, via the internet or combined) equal to or in excess of U.S.D. $5 billion in any country pursuant to (B)(ii)(a) or in the aggregate equal to or in excess of
U.S.D. $5 billion in any countries taken together pursuant to (B)(ii)(a) when no business in any one country has annual consolidated sales volume or revenues attributable to its retail operations equal to or in excess of U.S.D. $5 billion.

 (iii) For purposes of this Agreement, the term “Management Associate” shall mean any domestic or international
associate holding the title of “manager” or above. 
 (iv) For purposes of this Agreement, the term
“Officer” shall mean any domestic Walmart associate who holds a title of Vice President or above. 
 (v) For purposes
of this Agreement, the term “Officer Equivalent” shall mean any non-U.S. Walmart associate who Walmart views as holding a position equivalent to an officer position, such as managers and directors in international markets, irrespective of
whether such managers and directors are on assignment in the U.S. 
 (C) Ownership of an investment of less than the greater of
$25,000 or 1% of any class of equity or debt security of a Competing Business and/or a Global Retail Business will not be deemed ownership or participation in ownership of a Competing Business and/or a Global Retail Business for purposes of this
Agreement. 
 (D) The covenant not to compete contained in this Section 4 shall bind Associate, and shall remain in full
force and effect, regardless of whether Associate qualifies, or continues to remain eligible, for the Transition Payments described in Section 2 above. Termination of the Transition Payments pursuant to Section 2 will not release Associate
from Associate’s obligations under this Section 4. 
 5. FUTURE ASSISTANCE. Associate agrees to provide
reasonable assistance and cooperation to Walmart in connection with any agency investigation, litigation or similar proceedings that may exist or may arise regarding events as to which Associate has knowledge by virtue of Associate’s employment
with Walmart. Walmart will compensate Associate for reasonable travel, materials, and other expenses incidental to any such support Associate may provide to Walmart, at Walmart’s request. 
 6. PRESERVATION OF CONFIDENTIAL INFORMATION. Associate will not at any time, directly or indirectly, use or disclose any Confidential
Information obtained during the course of Associate’s employment with Walmart and following the Associate’s termination of employment with Walmart, except as may be authorized by Walmart. 
 7. REMEDIES FOR BREACH. The parties shall each be entitled to pursue all legal and equitable rights and remedies to secure
performance of their respective obligations and duties under this Agreement, and enforcement of one or more of these rights and remedies will not preclude the parties from pursuing any other rights and remedies. Associate acknowledges that a breach
of the provisions of Sections 4 through 6, above, could result in substantial and irreparable damage to Walmart’s business, and that

  

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the restrictions contained in Sections 4 through 6 are a reasonable attempt by Walmart to protect its rights and to safeguard its Confidential Information. Associate expressly agrees that upon a
breach or a threatened breach of the provisions of Sections 4 through 6, Walmart shall be entitled to injunctive relief to restrain such violation, and Associate hereby expressly consents to the entry of such temporary, preliminary, and/or permanent
injunctive relief, as may be necessary to enjoin the violation or threatened violation of Sections 4 through 6. With respect to any breach of this Agreement by Associate, Associate agrees to indemnify and hold Walmart harmless from and against any
and all loss, cost, damage, or expense, including, but not limited to, attorneys’ fees, incurred by Walmart, and to return immediately to Walmart all of the monies previously paid to Associate by Walmart under this Agreement; provided, however,
that such repayment shall not constitute a waiver by Walmart of any other remedies available under this Section or by law. 
 8. SEVERABILITY. In the event that a court of competent jurisdiction shall determine that any portion of this Agreement is invalid or otherwise unenforceable, the parties agree that the remaining portions of the Agreement shall
remain in full force and effect. The parties also expressly agree that if any portion of the covenant not to compete set forth in Section 4 shall be deemed unenforceable, then the Agreement shall automatically be deemed to have been amended to
incorporate such terms as will render the covenant enforceable to the maximum extent permitted by law. 
 9. NATURE OF THE
RELATIONSHIP. Nothing contained in this Agreement shall be deemed or construed to constitute a contract of employment for a definite term. The parties acknowledge that Associate is not employed by Walmart for a definite term, and that either
party may sever the employment relationship at any time and for any reason not otherwise prohibited by law. 
 10. ENTIRE
AGREEMENT. This document, along with the most recent Non-Disclosure and Restricted Use Agreement executed by and between the parties (the “Ancillary Agreement”), contain the entire understanding and agreement between Associate and
Walmart regarding the subject matter of this Agreement and the Ancillary Agreement. This Agreement, together with the Ancillary Agreement, supersede and replace any and all prior understandings or agreements between the parties regarding this
subject, including the Post-Termination Agreement, and no representations or statements by either party shall be deemed binding unless contained herein or therein. 
 11. MODIFICATION. This Agreement may not be amended, modified, or altered except in a writing signed by both parties or their designated representatives. 
 12. SUCCESSORS AND ASSIGNS. This Agreement will inure to the benefit of, and will be binding upon, Walmart, its successors and
permitted assigns, and on Associate and Associate’s heirs, successors, and permitted assigns. No rights or obligations under this Agreement may be assigned to any other person without the express written consent of all parties hereto.

  

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 13. COUNTERPARTS. This Agreement may be executed in counterparts, in which case each
of the two counterparts will be deemed to be an original. 
 14. GOVERNING LAW AND VENUE. This Agreement shall be
governed by, and construed in accordance with, the laws of the State of Delaware, without regard to Delaware law concerning the conflicts of law. The parties agree that any action relating to the interpretation, validity, or enforcement of this
Agreement shall be brought in the courts of the State of Delaware, County of New Castle, or in the United States District Court of Delaware, and the parties hereby expressly consent to the jurisdiction of such courts and agree that venue is proper
in those courts. The parties do hereby irrevocably: (a) submit themselves to the personal jurisdiction of such courts; (b) agree to service of such courts’ process upon them with respect to any such proceeding; (c) waive any
objection to venue laid therein; and (d) consent to service of process by registered mail, return receipt requested. Associate further agrees that in any claim or action involving the execution, interpretation, validity, or enforcement of this
Agreement, Associate will seek satisfaction exclusively from the assets of Walmart and will hold harmless all of Walmart’s individual directors, officers, employees, and representatives. 
 15. STATEMENT OF UNDERSTANDING. By signing below, Associate acknowledges: (i) that Associate has received a copy of this
Agreement, (ii) that Associate has read the Agreement carefully before signing it, (iii) that Associate has had ample opportunity to ask questions concerning the Agreement and has had the opportunity to discuss the Agreement with legal
counsel of Associate’s own choosing, and (iv) that Associate understands the rights and obligations under this Agreement and enters into this Agreement voluntarily. 
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date first above written. 
  

							
	WAL-MART STORES, INC.	 		    	[Name of Associate]
				
	 By:
	 	  
	 		    	  

	 Name:
	 		 		    	
	 Title:
	 		 		    	

  

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 SCHEDULE TO EXHIBIT 
 This Schedule of Executive Officers Who Have Executed a Post-Termination Agreement and Covenant Not to Compete is included pursuant to Instruction 2 of Item 601(a) of Regulation S-K for the purposes
of setting forth the material details in which the specific agreements differ from the form of agreement filed herewith as Exhibit 10(p). 
  

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

			
	Eduardo Castro-Wright	  	January 19, 2010	  	Restricted Stock Grant with Grant Date Value of $2,000,000
			
	M. Susan Chambers	  	March 15, 2010	  	Restricted Stock Grant with Grant Date Value of $1,000,000
			
	Rollin L. Ford	  	January 19, 2010	  	Restricted Stock Grant with Grant Date Value of $1,000,000
			
	C. Douglas McMillon	  	January 19, 2010	  	Restricted Stock Grant with Grant Date Value of $2,000,000
			
	Steven P. Whaley	  	January 19, 2010	  	Restricted Stock Grant with Grant Date Value of $300,000

  

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