Document:

Amendment No. 1 to BJ's Wholesale Club, Inc. Change of Control Severance Benefit

 Exhibit 10.12a 
 BJ’S WHOLESALE CLUB, INC. 
 AMENDMENT NO. 1 TO CHANGE OF CONTROL
SEVERANCE BENEFIT PLAN 
 FOR KEY EMPLOYEES 
 The BJ’s Wholesale Club, Inc. Change of Control Severance Benefit Plan for Key Employees, Amended and Restated January 31, 2010 (the “Plan”), is amended as of March 24, 2011, as
follows: 
 Section 1.02(b) of the Plan is amended by deleting all text in the first sentence following “Exhibit
B”. The first sentence of Section 1.02(b) will now read as follows: 
  

	 	“(b)	In addition to amounts described in paragraph (a) above, the Employer shall within 30 days following the Participant’s Date of Termination pay in a single
lump sum an amount equal to the Participant’s Base Salary, determined as hereinafter provided, multiplied by the Applicable Number of Weeks, determined as provided on Exhibit B.” 

Section 1.03 of the Plan is deleted in its entirety and replaced by the following: 

 

	 	“1.03	Coordination With Certain Tax Rules. 

  

	 	(a)	In the event that the Company undergoes a Change in Ownership or Control (as defined below), the Company shall not be obligated to provide to the Participant a portion
of any Contingent Compensation Payments (as defined below) that the Participant would otherwise be entitled to receive to the extent necessary to eliminate any Excess Parachute Payments (as defined below) for the Participant. For purposes of this
Section 1.03, the Contingent Compensation Payments so eliminated shall be referred to as the “Eliminated Payments” and the aggregate amount (determined in accordance with Treasury Regulation Section 1.280G-1, Q/A-30 or any
successor provision) of the Contingent Compensation Payments so eliminated shall be referred to as the “Eliminated Amount.” Notwithstanding any other provision of this Plan, if the Eliminated Amount for the Participant equals or exceeds
the sum of: 

  

	 	(i)	the Threshold Amount (as defined below), plus 

  

	 	(ii)	the Income Tax Payable on the Eliminated Amount (as defined below), plus 

  

	 	(iii)	 the Excise Tax Payable on Excess Parachute Payments (as defined below), 

	 	 
no portion of any Contingent Compensation Payments shall be eliminated for the Participant. 

  

	 	(b)	For purposes of this Section 1.03, the following terms shall have the following respective meanings: 

 

	 	(i)	“Change in Ownership or Control” shall mean a change in the ownership or effective control of the Company or in the ownership of a substantial portion of the
assets of the Company determined in accordance with Section 280G(b)(2) of the Internal Revenue Code of 1986, as amended (the “Code”). 

  

	 	(ii)	“Contingent Compensation Payments” shall mean any payment (or benefit) in the nature of compensation that is made or made available (under this Plan or
otherwise) to a “disqualified individual” (as defined in Section 280G(c) of the Code) and that is contingent (within the meaning of Section 280G (b) (2) (A) (i) of the Code) on a Change in Ownership or Control
of the Company. 

  

	 	(iii)	“Excess Parachute Payments” shall mean “excess parachute payments” as defined in Section 280G(b)(1) of the Code before taking into account the
Eliminated Amount, if otherwise applicable. 

  

	 	(iv)	“Threshold Amount” shall mean $25,000. 

  

	 	(v)	“Income Tax Payable on the Eliminated Amount” shall mean the Eliminated Amount (determined without regard to whether any Contingent Compensation Payments are
actually eliminated) multiplied by the highest combined marginal federal, state and local income tax rate in effect for the taxable year, taking into account the phase-out of itemized deductions and the federal Medicare tax.

  

	 	(vi)	“Excise Tax Payable on Excess Parachute Payments” shall mean the tax imposed by Section 4999(a) of the Code on Excess Parachute Payments.

  

	 	(c)	 Within 45 days after each date on which the Participant first becomes entitled to receive (whether or not then due) payments or benefits relating to a
Change in Ownership or Control, the Company, at its expense, shall engage a nationally recognized law firm or a nationally recognized accounting firm, which may be the regular law firm or accounting firm of the Company (the “280G Firm”),
to determine (i) which of such payments and benefits constitute Contingent Compensation Payments, (ii) the Eliminated Amount and (iii) the Eliminated Payments. To identify the Eliminated Payments, the 280G Firm shall determine the

	 	 
“Contingent Compensation Payment Ratio” (as defined below) for each Contingent Compensation Payment and then reduce the Contingent Compensation Payments in order beginning with the
Contingent Compensation Payments with the highest Contingent Compensation Payment Ratio. For Contingent Compensation Payments with the same Contingent Compensation Payment Ratio, such Contingent Compensation Payments shall be reduced based on the
time of payment of such Contingent Compensation Payments, with amounts having later payment dates being reduced first. For Contingent Compensation Payments with the same Contingent Compensation Payment Ratio and the same time of payment, such
Contingent Compensation Payments shall be reduced on a pro rata basis (but not below zero) prior to reducing Contingent Compensation Payments with a lower Contingent Compensation Payment Ratio. The term “Contingent Compensation Payment
Ratio” shall mean a fraction, the numerator of which is the value of the applicable Contingent Compensation Payment that must be taken into account at the change in control date for purposes of Section 280G of the Code, and the denominator
of which is the present value at the change in control date of the actual amount to be received in respect of the applicable payment (e.g., in the case of equity grants, the denominator shall be determined by reference to the fair market value
of the equity at the relevant dates and not in accordance with the methodology for accelerated payments set forth in Treasury Regulation Section 1.280G-1Q/A 24(b) or (c)). 

 

	 	(d)	Within 30 days after each date on which the Participant first becomes entitled to receive (whether or not then due) payments or benefits relating to such Change in
Ownership or Control, the Company shall provide notice to the Participant with reasonable detail of (i) which payments and benefits constitute Contingent Compensation Payments, (ii) the Eliminated Amount and (iii) the Eliminated
Payments. 

  

	 	(e)	In the event of any underpayment or overpayment hereunder, as determined by the 280G Firm, the amount of such underpayment or overpayment shall within 30 days of such
determination be paid to the Participant or refunded to the Company, as the case may be, with interest at the applicable federal rate provided for in Section 7872(f)(2) of the Code.” 

Exhibit B to the Plan shall be deleted and replaced in its entirety with the attached Exhibit B. 

 IN WITNESS WHEREOF, BJ’s Wholesale Club, Inc. has caused this instrument to be duly
executed in its name and on its behalf as of the date first above written. 
  

			
	BJ’S WHOLESALE CLUB, INC.
		
	By:	 	/s/ Laura J. Sen
		 	 Laura J. Sen
 President and
Chief Executive Officer

 ATTEST: 
 Signature: /s/ Cecile Trotta                            

 Name: Cecile Trotta 

 Exhibit B 

 

					
	Determination of Benefits Following a Qualified Termination
		
	 If the participant’s title immediately prior to the Change of Control
is...
	  	 The Applicable Number of Weeks
is...

	Senior Vice President	  	104 weeks
		
	Vice President	  	78 weeks
		
	Assistant Vice President or Regional Manager	  	65 weeks
			
	Manager of, Buyer, Other Manager or Staff Grades 27 - 32 Clubs GM, AM, GMIT/AMIT DC’s Managers Of/GM, Managers, Supervisors, Analyst Grades
27-34	  	Years of Service	  	        # of weeks
	  	Less than 10	  	        45 weeks
	  	10	  	        46 weeks
	  	11	  	        50 weeks
	  	12	  	        54 weeks
	  	13 or more	  	        58 weeks
			
	All Other Home Office Team Members and Field (Clubs / DCs) Team Members grades 1 to 26 to include Mid Managers, Supervisors, Analysts, Leads and hourly Team
Members	  	Years of Service	  	        # of weeks
	  	Less than 1	  	        8 weeks
	  	1 or more	  	8 weeks + 1 week per year of service, maximum 26 weeksAddendum to Employment Agreement , Laura J. Sen

 Exhibit 10.16b 
 BJ’S WHOLESALE CLUB, INC. 
 ADDENDUM TO EMPLOYMENT
AGREEMENT 
 This Addendum to Employment Agreement is entered into this 21st day of December, 2009, by and between
BJ’s Wholesale Club, Inc. (the “Company”) and Laura J. Sen (the “Executive”): 
 W I T N E S S E T
H 
 WHEREAS Company and Executive entered into an Employment Agreement dated February 1, 2009 (the
“Agreement”); and 
 WHEREAS Section 7.4 of the Agreement provides that it may be amended by a written instrument
executed by both parties; and 
 WHEREAS Company and Executive wish to modify the terms of the Agreement to conform with
Section 409A of the Internal Revenue Code. 
 NOW THEREFORE, in consideration of the mutual covenants contained herein, the
parties agree to modify the Agreement as follows: 
 1. The following new Section 3.6 is added to the Agreement immediately
after Section 3.5: 
 “3.6 Special Rules Applicable to Deferred Compensation. 

(a) Delayed Payment for Specified Employees. Notwithstanding any other provision of this Agreement, if on the date
of his separation from service, Executive is a Specified Employee, neither Base Salary pursuant to Section 3.5(b)(1) nor any other amount constituting the deferral of compensation, within the meaning of Section 409A(d) of the Internal
Revenue Code (“Code”) and the regulations issued thereunder, that would otherwise be paid solely as a result of such separation shall be paid to Executive during the six-month period beginning on the date of such separation, provided that
(i) such delay shall not be required to the extent that the sum of such payments during the six-month period does not exceed two times the lesser of (A) Executive’s Base Salary for the calendar year preceding the separation from
service (adjusted for permanent increases taking effect during such year) or (B) the maximum amount that may be taken into account under a qualified plan pursuant to Section 401(a)(17) of the Code for the year of Executive’s
separation from service, (ii) the originally scheduled payment, together with each installment (if any) that would otherwise have been paid to Executive during the six-month period, shall be paid on the first day of the seventh month following
such termination, and (iii) if Executive dies during the 

  
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period in which no payment may be made, such period shall immediately end and all installments then due to Executive shall be paid in accordance with Executive’s beneficiary designation or,
if no such designation has been made or applies, to his estate. For purposes of the preceding sentence, Executive’s status as a Specified Employee, which shall be determined in accordance with regulations under Sections 409A and
416 of the Code without regard to Section 416(i)(5) of the Code, begins on April 1, based upon his being described in the following sentence during the calendar year preceding such date and shall continue for a period of 12 consecutive
months after such April 1. Executive is described in this sentence if, at any time during a calendar year, (i) he was an officer of the Company having annual compensation from the Company, and all entities aggregated with it under
Section 414(b) and (c) of the Code, in excess of $130,000, as adjusted under Section 416(i)(A) of the Code, and was among the 50 such officers with the highest annual compensation; (ii) he owned (or was considered as owning
within the meaning of Section 318 of the Code) more than 5% of the outstanding stock of the Company or stock possessing more than 5% of the total combined voting power of all stock of the Company; or (iii) he owned (or was considered as
owning within the meaning of Section 318 of the Code) more than 1% of the outstanding stock of the Company or stock possessing more than 1% of the total combined voting power of all stock of the Company, and had annual compensation from the
Company in excess of $150,000. For purposes of the preceding sentence, an individual’s annual compensation shall be the total compensation reported in box 1 of IRS Form W-2 for the applicable calendar year. 

(b) Acceleration of Payments Prohibited. Notwithstanding anything to the contrary, Sections 3.3(a), 3.3(c), 3.4,
3.5(a) and 3.5(c) shall be construed and applied so that the time of payment of any amount constituting the deferral of compensation, within the meaning of Section 409A(d) of the Code and the regulations issued thereunder, shall be determined
in accordance with the plan or other arrangement providing such payment and shall not be accelerated as a result of Executive’s disability or termination of employment to which this Agreement applies.” 

2. Except as modified by this Addendum, all other provisions of the Employment Agreement remain in full force and effect. 

  
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 IN WITNESS WHEREOF, the parties hereto being duly authorized have executed this Addendum to
be effective as of the date first set forth above. 
  

			
	EXECUTIVE	 	BJ’S WHOLESALE CLUB, INC.
		
	By: /s/ Laura J.
Sen                        	 	By: /s/ Herbert J
Zarkin                        
	            Laura J.
Sen                      	 	 
		
	Dated: 12/21/09        	 	Dated: 12/21/09        

  
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