Document:

Letter from Registrant to Karen A. Austin

 Exhibit 10.19 
 [SEARS HOLDINGS LETTERHEAD] 
 February 1, 2006 
 Ms. Karen Austin 
 Dear Karen: 
 This letter describes your compensation as EVP and CIO – SHC. Subject to approval by the Compensation Committee, your new position and compensation package will be effective February 1, 2006. 
 Your Sears Holdings Corporation compensation package will consist of the following: 
  

	 	•	 	 Annual base salary of $450,000, with periodic increases based upon your performance and the results achieved by your team. 

  

	 	•	 	 Participation in the Sears Holdings Corporation Senior Executive Annual Incentive Plan. Your annual incentive target will remain at 75% of base salary, while your
incentive amount will increase to $337,500 on an annualized basis. Your annual incentive plan performance goals will be linked to 100% Sears Holdings Corporation EBITDA. The annual incentive for each plan year will be payable by April 15 of the
following year, provided that you are actively employed at the payment date. 

  

	 	•	 	 Participation in the Sears Holdings Corporation Senior Executive 2005 – 2007 Long Term Incentive Plan (SHC LTIP). Your LTIP target award for the 2005 through
2007 plan cycle is $1,925,000. This award is payable in April 2008; the actual amount of the award you receive will depend on Sears Holdings Corporation Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA). The new 2006-2008 LTIP
target award is being finalized and will be communicated to you separately. 

 Congratulations on your promotion. 
 Sincerely, 
  

					
	 /s/ Robert Luse
	 		 	2/2/06
	Robert Luse	 		 	
			
	 /s/ Karen Austin
	 		 	2/2/06
	Karen AustinLetter from Registrant to Maureen McGuire

 Exhibit 10.20 
 [SEARS HOLDINGS LETTERHEAD] 
 October 18, 2005 
 Maureen A. McGuire 
 [Address Omitted] 
 Dear Maureen: 
 We are pleased to extend to you our offer to join Sears Holdings Corporation as Executive Vice President & Chief Marketing
Officer, Sears Holdings Corporation, reporting directly to Edward Lampert, chairman. 
 This letter serves as a confirmation of the offer and the agreement
of Sears Holdings Corporation (“Sears Holdings”) to be bound by its terms (the “Offer Letter”). 
 The key elements of this Offer Letter
are as follows: 
  

	 	•	 	 Your employment effective date with Sears Holdings Corporation will be October 31, 2005 (the “Effective Date”). 

  

	 	•	 	 Base salary at an annual rate of $550,000, which base salary shall be reviewed no less frequently than annually and may be increased but not decreased without your
consent. 

  

	 	•	 	 You will be eligible for an annual target incentive opportunity of 75% of your base salary or $412,500 at the present Base Salary. The actual amount of the
incentive you earn may range from 0% to 150% depending on how well you and the company perform and such amount will be paid no later than the April 15 that follows the applicable fiscal year. Your annual incentive targets will be established at
the beginning of the applicable period in consultation with you and are designed to be achievable at 100% target performance (collectively, the “Annual Incentive Opportunity”). 

  

	 	•	 	 Your 2005 annual incentive payment of $250,000, payable in 2006, will be paid without regard to 2005 performance goals and will be paid no later than April 15,
2006 regardless of your employment status (unless you resign without “good reason” (as such term is defined in the Executive Severance/Non-Compete Agreement) or is terminated with “cause” (as such term is defined in the Executive
Severance/Non-Compete Agreement)). 

  

	 	•	 	 You will be eligible for participation in the Sears Holdings Corporation 2005 Executive Long Term Incentive Plan (“SHC LTIP”). Your target award for the
2005 through 2007 plan cycle is $2,333,333, which is the pro rata portion of $3,000,000 (the “Initial LTIP Payment”). This award is payable in April 2008; the actual amount of the award you receive, if any, will depend on Sears Holdings
Corporation Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”) and is subject to the terms and conditions of the SHC LTIP, and increased or decreased as provided in the SHC LTIP for better or worse EBITDA
performance, but not be subject to reduction for individual performance. You will be eligible to participate in any future similar long term incentive plan of Sears Holdings based on your performance of that of the Company.

	 	•	 	 You will receive $1,000,000 of restricted stock, subject to shareholder approval, that will vest in equal 1/3 increments on each of the first three anniversaries of
your Effective Date (the “Restricted Stock Grant”). Notwithstanding the foregoing, in the event your employment is terminated, after your Effective Date but prior to the next anniversary of your Effective Date, you will receive credit for
an additional year of vesting as more fully described in the Executive Severance/Non-Compete Agreement. The number of shares subject to the Restricted Stock Grant will be based on the closing price of Sears Holdings common stock on a trading date as
close to your Effective Date as practicable. If shareholder approval of the Restricted Stock Grant is not obtained, you and Sears Holdings agree to work together to determine a mutually acceptable method of providing you with compensation having
equivalent value. 

  

	 	•	 	 You will be asked to sign an Executive Severance/Non-Compete Agreement and an Executive Non-Disclosure and Non-Solicitation of Employees Agreement in substantially
the form of the attached as a condition of your employment. 

  

	 	•	 	 You will receive a one time sign-on bonus of $100,000 payable within 30 days of your start date. 

  

	 	•	 	 You are eligible to receive 4 weeks paid vacation, which will be pro-rated during your first year of service based on your start date. Added to this, you will
qualify for six paid National Holidays each year. Flexible Days will be granted after one year of service. 

  

	 	•	 	 You will not be required to relocate your principal residence from Bronxville, New York, but you agree to travel to Sears Holdings corporate headquarters and be
available there at least three days per week, with the cost of related round trip airfare and hotel paid by Sears Holdings. You will also be provided an office and related support at a location not more than 25 miles from your residence, which may
be in Greenwich, CT (collectively, the “Location Conditions”). Notwithstanding the Location Conditions, should you chose to relocate, you will be eligible for relocation assistance in accordance with Sears’ standard relocation policy.
The Relocation Benefits package will be sent to you from Prudential Relocation. To receive relocation assistance, you must sign the Sears Relocation Repayment Agreement, which requires you to pay back to Sears all or part of the assistance you
receive in the event that you voluntarily leave Sears or retire within the time frames specified in the agreement. Please contact me if you have any questions regarding relocation assistance. 

  

	 	•	 	 You will be eligible to participate in the Sears Holdings medical plan and all retirement and welfare programs on a basis no less favorable than other executives at
your level, in accordance with the applicable terms of those programs. 

  

	 	•	 	 As an officer of Sears Holdings you will be provided with indemnification as contained in the certificate of incorporation of Sears Holdings which obligates the
company to indemnify and hold harmless to the fullest extent permitted by Delaware law each person who was or is made a party or is threatened to be made a party to or is otherwise involved in any action, suit or proceeding, whether civil, criminal,
administrative or investigative, by reason of the fact that he or she is serving or had served as a director or officer of Sears Holdings. 

 This offer is contingent upon satisfactory completion of a background reference check, employment authorization verification and pre-employment drug test. Sears Holdings and you 

 
agree that the laws of the State of New York will govern your employment arrangement described in this letter and Sears Holdings and you agree to submit to
the state and federal courts in New York County New York for resolution of any and all disputes that may arise hereunder. 
 Maureen, we are very pleased
that you have accepted our offer and look forward to you joining the company. We are excited about the important contributions you will make at Sears Holdings. Please sign your acceptance of this offer and return the original to my attention.

 If this Letter Offer accurately reflects our agreement with respect to your employment, please sign a copy and return it to me. 
 If you need additional information or clarification, please call. 
 Sincerely, 
 Robert D. Luse 
 SVP, Human Resources

 cc: Edward Lampert 
 Accepted and agreed 
  

			
	 /s/ Maureen A. McGuire
	 	Date: October 25, 2005
	Maureen A. McGuireForm of Sears Holdings Corporation Restricted Stock Award Agreement

 EXHIBIT 10.44 
 SEARS HOLDINGS CORPORATION 
 FORM OF RESTRICTED STOCK AWARD AGREEMENT 
 Date: 
 Pursuant to action taken by Sears Holdings Corporation (the
“Company”) under the Sears Holdings Corporation 2006 Stock Plan (the “Plan”), you have been awarded restricted shares of Sears Holdings Corporation stock, as detailed below. These shares have restrictions attached to them. You
are restricted from selling these shares until the vesting date has occurred. Your shares will be forfeited if you leave the company before the vesting date. As a holder of restricted shares, you are entitled to voting rights on the shares, subject
to the limits described below. Additionally, in the event that the Company were to declare a dividend, you would also be entitled to dividend rights on the shares, subject to the limits described below. 
  

									
	 Date of Grant
	 	 Grant Value
	 	 Grant Price
	  	Restricted Shares
Granted (1)	  	Vesting Date
		 		 		  		  	

	 (1)
	 Rounded down to nearest whole share 

 At the time your restricted shares vest, the value of the vested shares is taxable as wages. The Company will require you to pay withholding taxes due at the time the
shares vest in cash or may, at its option, withhold shares whose value equals the taxes due at the time the shares vest. The attached prospectus provides more tax information, as well as an overview of your restricted grant. 
 Restricted shares may not be sold, transferred, pledged or otherwise assigned and shall, except to the extent exchangeable for unrestricted common shares of the Company
as hereinafter provided, be automatically canceled upon termination of your employment with the Company and its wholly-owned subsidiaries. 
 Your restricted
shares shall be exchangeable for unrestricted common shares of the Company on the vesting date. 
 No physical certificates for your restricted shares will
be issued to you. Instead, your restricted shares will be evidenced by certificates held by or on behalf of the Company, in book-entry form, or otherwise, as determined by the Company. As a holder of restricted shares, you are otherwise entitled to
all the rights (including voting and dividend rights) of a holder of an equivalent number of unrestricted common shares of the Company, subject to the terms of the Plan and this Agreement. Specifically, you are entitled to voting rights on the
restricted shares and, in the event that the Company were to declare a dividend, you are entitled to receive dividends paid with respect to the restricted shares. You will not be entitled to voting or dividend rights with respect to record dates
occurring before the date the restricted shares were granted to you nor with respect to record dates occurring on or after the date, if any, on which you forfeit the restricted shares. 

 Under existing laws and regulations, in general, the fair market value of the shares granted hereunder on the date such
shares become exchangeable for unrestricted common shares of the Company will be subject to federal income tax at ordinary rates and to social security tax and their respective withholding requirements, and may be subject to state and local taxes
and withholding requirements. If the Company withholds shares equal to any required withholding from the shares that will become exchangeable for unrestricted common shares of the Company, such shares shall be valued at their fair market value on
the date such shares become exchangeable for unrestricted common shares of the Company. The fair market value of common shares of the Company on any date shall be the reported closing price on that date for such shares on the principal securities
exchange or market on which the shares are then listed or admitted to trading or, if the Company’s common shares are not traded on that date, on the next preceding date on which Stock was traded. 
 If you are an officer of the Company who is subject to Section 16(b) of the Securities Exchange Act of 1934, any shares withheld to satisfy such tax withholding
requirements may be subject to certain restrictions and reporting requirements. 
 This award is subject to all of the terms and conditions of the Plan, and
it is subject to adjustment as provided in the Plan. 
 Sears Holdings Corporation

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