Document:

EX-10.22

 Exhibit 10.22 

PETCO HEALTH AND WELLNESS COMPANY, INC. 

2020 EMPLOYEE STOCK PURCHASE PLAN 
 1.
Purpose 
 The purpose of this Petco Health and Wellness Company, Inc. 2020 Employee Stock Purchase Plan (the “Plan”) is to
provide employees of the Company and its Designated Subsidiaries with an opportunity to purchase Common Stock through accumulated Contributions. The Company’s intention is to have Plan qualify as an “employee stock purchase plan”
under Section 423 of the Code. The provisions of the Plan, accordingly, will be construed so as to extend and limit Plan participation in a uniform and nondiscriminatory basis consistent with the requirements of Section 423 of the Code.

 2. Definitions. 
 (a)
“Administrator” means the Compensation Committee of the Board (or any successor committee) or such other committee as designated by the Board to administer the Plan under Section 14. 

(b) “Applicable Laws” means the requirements relating to the administration of equity-based awards under U.S. state
corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed or quoted and the applicable laws of any foreign country or jurisdiction where options are, or will be,
granted under the Plan. 
 (c) “Board” means the Board of Directors of the Company. 

(d) “Code” means the Internal Revenue Code of 1986, as amended from time to time, and the rulings and regulations
issued thereunder. 
 (e) “Common Stock” means the Class A common stock of the Company, $0.001 par value per
share. 
 (f) “Company” means Petco Health and Wellness Company, Inc., a Delaware corporation, and any successor
corporation. 
 (g) “Compensation” means an Eligible Employee’s base salary or base hourly rate of pay before
deduction for any salary deferral contributions made by the Eligible Employee to any tax-qualified or nonqualified deferred compensation plan, but excluding commissions, overtime, incentive compensation,
bonuses and other forms of compensation. The Administrator, in its discretion, may, on a uniform and nondiscriminatory basis, establish a different definition of Compensation for an Offering Period. 

(h) “Contributions” means the payroll deductions and any other additional payments that the Administrator may permit to
be made by a Participant to fund the exercise of options granted pursuant to the Plan. 

 (i) “Designated Subsidiary” means any Subsidiary that has been
designated by the Administrator from time to time in its sole discretion as eligible to participate in the Plan. As of the date of adoption of the Plan, the Designated Subsidiaries consist exclusively of: Petco Animal Supplies Stores, Inc. 

(j) “Eligible Employee” means any person, including an officer, who is employed by the Company or a Designated
Subsidiary. For purposes of the Plan, the employment relationship shall be treated as continuing intact while the individual is on sick leave or other leave of absence approved by the Company. Where the period of leave exceeds 90 days and the
individual’s right to reemployment is not guaranteed either by statute or by contract, the employment relationship shall be deemed to have terminated on the 91st day of such leave. “Eligible Employee” shall not include any person who
is a citizen or resident of a foreign jurisdiction if granting them an option under the Plan would violate the law of such jurisdiction, or if compliance with the laws of the jurisdiction would cause the Plan to violate Section 423 of the Code.

 (k) “Employer” means the Company and each Designated Subsidiary. 

(l) “Enrollment Date” means the first Trading Day of each Offering Period. 

(m) “Exchange Act” means the Securities Exchange Act of 1934, as amended, including the rules and regulations
promulgated thereunder. 
 (n) “Exercise Date” means the last Trading Day of each Purchase Period. 

(o) “Fair Market Value” means as of any date, the value of the Common Stock determined as follows: (i) if the
Common Stock is listed on any established stock exchange, system or market, its Fair Market Value shall be the closing price for the Common Stock as quoted on such exchange, system or market as reported in the Wall Street Journal or such other
source as the Administrator deems reliable (or, if no sale of Common Stock is reported for such date, on the next preceding date on which any sale shall have been reported); and (ii) in the absence of an established market for the Common Stock,
the Fair Market Value thereof shall be determined in good faith by the Administrator. 
 (p) “New Exercise Date”
means a new Exercise Date if the Administrator shortens any Offering Period then in progress. 
 (q) “Offering” means
an offer under the Plan of an option that may be exercised during an Offering Period as further described in Section 4. For purposes of the Plan, the Administrator may designate separate Offerings under the Plan (the terms
of which need not be identical) in which Employees of one or more Employers will participate, even if the dates of the applicable Offering Periods of each such Offering are identical and the provisions of the Plan will separately apply to each
Offering. To the extent permitted by Treasury Regulation Section 1.423-2(a)(1), the terms of each Offering need not be identical provided that the terms of the Plan and an Offering together satisfy
Treasury Regulation Sections 1.423-2(a)(2) and (a)(3). 
 (r) “Offering
Periods” means the periods established by the Administrator (not to exceed 27 months) during which an option granted pursuant to the Plan may be exercised. The duration and timing of Offering Periods may be changed pursuant to
Sections 4, 18 and 19. The 

  
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first Offering Period shall commence on the date the Common Stock is first publicly traded and end on the last day of the Company’s third full fiscal quarter in 2022, and subsequent Offering
Periods shall be each twelve-month period (four full fiscal quarters) commencing after the first Offering Period ends. 
 (s)
“Parent” means a “parent corporation,” whether now or hereafter existing, as defined in Section 424(e) of the Code. 

(t) “Participant” means an Eligible Employee who elects to participate in the Plan. 

(u) “Purchase Period” means the period during an Offering Period which shares of Common Stock may be purchased on a
Participant’s behalf in accordance with the terms of the Plan. During the first Offering Period, the Purchase Period will begin on the date the Common Stock is first publicly traded and end on the last day of the Company’s third full
fiscal quarter in 2021, and subsequent Purchase Periods shall be each six-month period (two full fiscal quarters) commencing thereafter. Unless the Administrator determines otherwise, each Purchase Period will
be a six-month period (two full fiscal quarters). 
 (v) “Purchase Price”
means an amount equal to 85% of the Fair Market Value of a share of Common Stock on the Enrollment Date or on the Exercise Date, whichever is lower; provided however, that the Purchase Price may be determined for subsequent Offering Periods by the
Administrator subject to compliance with Section 423 of the Code (or any other applicable law, regulation or stock exchange rule) or pursuant to Section 18. 

(w) “Subsidiary” means a “subsidiary corporation,” whether now or hereafter existing, as defined in
Section 424(f) of the Code. 
 (x) “Trading Day” means a day on which the national stock exchange upon which the
Common Stock is listed is open for trading or, if the Common Stock is not listed on an national stock exchange, a business day as determined by the Administrator in good faith. 

(y) “Treasury Regulations” means the Treasury regulations of the Code. Reference to a specific Treasury Regulation or
Section of the Code shall include such Treasury Regulation or Section, any valid regulation promulgated under such Section, and any comparable provision of any future legislation or regulation amending, supplementing or superseding such Section or
regulation. 
 3. Eligibility. 
 (a)
Offering Periods. Any Eligible Employee on a given Enrollment Date will be eligible to participate in the Plan if he or she was employed by the Company for at least 14 days immediately preceding the Enrollment Date, subject to the
requirements of Section 5; provided, however, that an Eligible Employee who commences employment with the Company or a Designated Subsidiary following such 14-day period will be
eligible to participate in the Plan at the beginning of the next Purchase Period to occur that is at least 14 days following the commencement of his or her employment with the Company or a Designated Subsidiary. Eligible Employees who do not elect
to participate in the Plan on a given Enrollment Date may elect to 

  
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participate in the Plan at the beginning of any subsequent Purchase Period as determined by the Administrator. 

(b) Non-U.S. Employees. Employees who are citizens or residents of a non-U.S. jurisdiction (without regard to whether they also are citizens or residents of the United States or resident aliens (within the meaning of Section 7701(b)(1)(A) of the Code)) may be excluded from
participation in the Plan or an Offering if the participation of such Employees is prohibited under the laws of the applicable jurisdiction or if complying with the laws of the applicable jurisdiction would cause the Plan or an Offering to violate
Section 423 of the Code. In addition, as provided in Section 14, the Administrator may establish one or more sub-plans of the Plan (which may, but are not required to, comply
with the requirements of Section 423 of the Code) to provide benefits to employees of Designated Subsidiaries located outside the United States in a manner that complies with local law. Any such sub-plan
will be a component of the Plan and will not be a separate plan. 
 (c) Limitations. Any provisions of the Plan to the contrary
notwithstanding, no Eligible Employee will be granted an option under the Plan (i) to the extent that, immediately after the grant, such Eligible Employee (or any other person whose stock would be attributed to such Eligible Employee pursuant
to Section 424(d) of the Code) would own capital stock of the Company or any Parent or Subsidiary of the Company and/or hold outstanding options to purchase such stock possessing 5% or more of the total combined voting power or value of all
classes of the capital stock of the Company or of any Parent or Subsidiary of the Company, or (ii) to the extent that his or her rights to purchase stock under all employee stock purchase plans (as defined in Section 423 of the Code) of
the Company or any Parent or Subsidiary of the Company accrues at a rate, which exceeds $25,000 worth of stock (determined at the Fair Market Value of the stock at the time such option is granted) for each calendar year in which such option is
outstanding at any time, as determined in accordance with Section 423 of the Code and the regulations thereunder. 
 4. Offering Periods 

The Plan will be implemented by consecutive Offering Periods with new Offering Periods commencing at such times as determined by the Administrator. The
Administrator will have the power to change the duration of Offering Periods (including the commencement dates thereof) without stockholder approval. 

5. Participation 
 An Eligible Employee may participate in
the Plan by (i) submitting to the Company’s Human Resources department (or its delegate), on or before a date determined by the Administrator prior to an applicable Enrollment Date (or prior to the first day of the applicable Purchase
Period, as provided under Section 3(a)), a properly completed subscription agreement authorizing Contributions in the form provided by the Administrator for such purpose, or (ii) following an electronic or other
enrollment procedure determined by the Administrator. 
 6. Contributions 

(a) At the time a Participant enrolls in the Plan pursuant to Section 5, such Participant will elect to have payroll
deductions made on each pay day or other Contributions (to the extent 

  
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permitted by the Administrator) made during the Offering Period (or portion thereof) in an amount not exceeding 15% of the Compensation (or such other percentage of Compensation as determined by
the Administrator in its sole discretion), which he or she receives on each pay day during the Offering Period; provided, however, that should a pay day occur on an Exercise Date, a Participant will have any payroll deductions made on such day
applied to his or her notional account under the subsequent Purchase Period or Offering Period. The Administrator, in its sole discretion, may permit all Participants in a specified Offering to contribute amounts to the Plan through payment by cash,
check or other means set forth in the subscription agreement prior to each Exercise Date of each Purchase Period. A Participant’s subscription agreement will remain in effect for successive Offering Periods unless terminated as provided in
Section 10. 
 (b) Payroll deductions for a Participant will commence on the first pay day following the Enrollment
Date (or such later date on which a Participant enrolls in the Plan pursuant to Section 5) and will end on the last pay day prior to the Exercise Date of such Purchase Period to which such authorization is applicable,
unless sooner terminated by the Participant as provided in Section 10; provided, however, that with respect to the first Offering Period, payroll deduction for a Participant will not commence until such time as determined
by the Administrator. 
 (c) All Contributions made for a Participant will be credited to his or her notional account under the Plan and
payroll deductions will be made in whole percentages only. Except to the extent permitted by the Administrator pursuant to Section 6(a), a Participant may not make any additional payments into such notional account. 

(d) A Participant may discontinue his or her participation in the Plan as provided in Section 10. Participants shall
not be permitted to increase or to otherwise decrease their rates of Contributions during a Purchase Period unless otherwise determined by the Administrator in its sole discretion; provided, however, Participants shall be permitted to increase or
decrease their rates of Contributions effective as of the beginning of each Purchase Period. 
 (e) Notwithstanding the foregoing, to the
extent necessary to comply with Section 423(b)(8) of the Code, a Participant’s Contributions may be decreased to 0% at any time during a Purchase Period. Subject to Section 423(b)(8) of the Code, Contributions will recommence at the
rate originally elected by the Participant effective as of the beginning of the first Purchase Period scheduled to end in the following calendar year, unless terminated by the Participant as provided in Section 10. 

(f) At the time the option under the Plan is exercised, in whole or in part, or at the time some or all of the Common Stock issued under the
Plan is disposed of (or any other time that a taxable event related to the Plan occurs), the Participant must make adequate provision for the Company’s or Employer’s federal, state, local or any other tax liability payable to any authority
including taxes imposed by jurisdictions outside of the United States, national insurance, social security or other tax withholding obligations, if any, which arise upon the exercise of the option or the disposition of the Common Stock (or any other
time that a taxable event related to the Plan occurs). At any time, the Company or the Employer may, but will not be obligated to, withhold from the Participant’s compensation the amount necessary for the Company or the Employer to meet
applicable withholding obligations, including any withholding required to make available to the Company or the Employer any tax deductions or benefits attributable to sale or early 

  
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disposition of Common Stock by the Eligible Employee. In addition, the Company or the Employer may, but will not be obligated to, withhold from the proceeds of the sale of Common Stock or any
other method of withholding the Company or the Employer deems appropriate to the extent permitted by Treasury Regulation Section 1.423-2(f). 

7. Grant of Option 
 On the Enrollment Date of each
Offering Period, each Eligible Employee participating in such Offering Period (or any Purchase Period within such Offering Period) will be granted an option to purchase on each Exercise Date during such Offering Period (at the applicable Purchase
Price) up to a number of shares of Common Stock determined by dividing such Eligible Employee’s Contributions accumulated prior to such Exercise Date and retained in the Eligible Employee’s notional account as of the Exercise Date by the
applicable Purchase Price; provided, however, that in no event will an Eligible Employee be permitted to purchase during each Purchase Period more than 5,000 shares of Common Stock (subject to any adjustment pursuant to
Section 18); provided, further, that such purchase will be subject to the limitations set forth in Sections 3(c) and 13. The Eligible Employee may accept the grant of such option by electing to participate in
the Plan in accordance with the requirements of Section 5. The Administrator may, for future Offering Periods, increase or decrease, in its absolute discretion, the maximum number of shares of Common Stock that an Eligible
Employee may purchase during each Purchase Period of an Offering Period. Exercise of the option will occur as provided in Section 8, unless the Participant has withdrawn pursuant to Section 10. The
option will expire on the last day of the Offering Period. 
 8. Exercise of Option 

(a) Unless a Participant withdraws from the Plan as provided in Section 10, such Participant’s option for the
purchase of shares of Common Stock will be exercised automatically on the Exercise Date, and the maximum number of full shares subject to the option will be purchased for such Participant at the applicable Purchase Price with the accumulated
Contributions from his or her notional account. No fractional shares of Common Stock will be purchased; unless determined by the Administrator, any Contributions accumulated in a Participant’s notional account that are not sufficient to
purchase a full share will be retained in the Participant’s notional account for the subsequent Purchase Period or Offering Period, subject to earlier withdrawal by the Participant as provided in Section 10. Any other
funds left over in a Participant’s notional account after the Exercise Date will be returned to the Participant. During a Participant’s lifetime, a Participant’s option to purchase shares hereunder is exercisable only by him or her.

 (b) If the Administrator determines that, on a given Exercise Date, the number of shares of Common Stock with respect to which options are
to be exercised may exceed (i) the number of shares of Common Stock that were available for sale under the Plan on the Enrollment Date of the applicable Offering Period, or (ii) the number of shares of Common Stock available for sale under
the Plan on such Exercise Date, the Administrator may in its sole discretion (x) provide that the Company will make a pro rata allocation of the shares of Common Stock available for purchase on such Enrollment Date or Exercise Date, as
applicable, in as uniform a manner as will be practicable and as it will determine in its sole discretion to be equitable among all Participants exercising options to purchase Common Stock on such Exercise Date, and continue all Offering Periods
then in effect, or (y) provide that the Company will make a pro rata allocation of the shares 

  
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available for purchase on such Enrollment Date or Exercise Date, as applicable, in as uniform a manner as will be practicable and as it will determine in its sole discretion to be equitable among
all participants exercising options to purchase Common Stock on such Exercise Date, and terminate any or all Offering Periods then in effect pursuant to Section 19. The Company may make a pro rata allocation of the shares
available on the Enrollment Date of any applicable Offering Period pursuant to the preceding sentence, notwithstanding any authorization of additional shares for issuance under the Plan by the Company’s stockholders subsequent to such
Enrollment Date. 
 9. Delivery 
 As soon as reasonably
practicable after each Exercise Date on which a purchase of shares of Common Stock occurs, the Company will arrange the delivery to each Participant of the shares purchased upon exercise of his or her option in a form determined by the Administrator
(in its sole discretion) and pursuant to rules established by the Administrator. The Company may permit or require that shares be deposited directly with a broker designated by the Company or to a designated agent of the Company, and the Company may
utilize electronic or automated methods of share transfer. The Company may require that shares be retained with such broker or agent for a designated period of time and/or may establish other procedures to permit tracking of disqualifying
dispositions of such shares. No Participant will have any voting, dividend, or other stockholder rights with respect to shares of Common Stock subject to any option granted under the Plan until such shares have been purchased and delivered to the
Participant as provided in this Section 9. 
 10. Withdrawal 

A Participant may withdraw all, but not less than all, the Contributions credited to his or her notional account and not yet used to exercise his or her option
under the Plan at any time by (a) submitting to the Company’s human resources department (or its delegate) a written notice of withdrawal in the form determined by the Administrator for such purpose, or (b) following an electronic or
other withdrawal procedure determined by the Administrator. All of the Participant’s Contributions credited to his or her notional account will be paid to such Participant as soon as reasonably practicable after receipt of notice of withdrawal
and such Participant’s option for the Offering Period will be automatically terminated, and no further Contributions for the purchase of shares will be made for such Offering Period. If a Participant withdraws from an Offering Period,
Contributions will not resume at the beginning of the succeeding Offering Period, unless the Participant re-enrolls in the Plan in accordance with the provisions of Section 5. 

11. Termination of Employment 
 Upon a Participant’s
ceasing to be an Eligible Employee, for any reason, he or she will be deemed to have elected to withdraw from the Plan and the Contributions credited to such Participant’s notional account during the Offering Period but not yet used to purchase
shares of Common Stock under the Plan will be returned to such Participant or, in the case of his or her death, to the person or persons entitled thereto under Section 15, and such Participant’s option will be
automatically terminated. 

  
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 12. Interest 

No interest will accrue on the Contributions of a participant in the Plan, except as may be required by Applicable Law, as determined by the Company, and if so
required by the laws of a particular jurisdiction, shall apply to all Participants in the relevant Offering except to the extent otherwise permitted by Treasury Regulation Section 1.423-2(f). 

13. Stock 
 (a) Subject to adjustment upon
changes in capitalization of the Company as provided in Section 18 hereof, the maximum number of shares of Common Stock that will be made available for sale under the Plan will be
            shares of Common Stock. 
 (b) Until the shares are issued (as
evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), a Participant will only have the rights of an unsecured creditor with respect to such shares, and no right to vote or receive
dividends or any other rights as a stockholder will exist with respect to such shares. 
 (c) Shares of Common Stock to be delivered to a
Participant under the Plan will be registered in the name of the Participant or in the name of the Participant and his or her spouse. 
 14.
Administration 
 The Plan shall be administered by the Administrator. The Board shall fill vacancies on, and from time to time may remove or add members
to, the Administrator. Any power of the Administrator may also be exercised by the Board. The Administrator will have full and exclusive discretionary authority to construe, interpret and apply the terms of the Plan, to designate separate Offerings
under the Plan, to determine eligibility, to adjudicate all disputed claims filed under the Plan and to establish such procedures that it deems necessary for the administration of the Plan (including, without limitation, to adopt such procedures and
sub-plans as are necessary or appropriate to permit the participation in the Plan by employees who are foreign nationals or employed outside the United States, the terms of which
sub-plans may take precedence over other provisions of this Plan, with the exception of Section 13(a), but unless otherwise superseded by the terms of such sub-plan, the provisions of this Plan shall govern the operation of such sub-plan). Unless otherwise determined by the Administrator, the Employees eligible to participate in
each sub-plan will participate in a separate Offering. Without limiting the generality of the foregoing, the Administrator is specifically authorized to adopt rules and procedures regarding eligibility to
participate, the definition of Compensation, handling of Contributions, making of Contributions to the Plan (including, without limitation, in forms other than payroll deductions), establishment of bank or trust accounts to hold Contributions,
payment of interest, conversion of local currency, obligations to pay payroll tax, determination of beneficiary designation requirements, withholding procedures and handling of stock certificates that vary with applicable local requirements. The
Administrator also is authorized to determine that, to the extent permitted by Treasury Regulation Section 1.423-2(f), the terms of an option granted under the Plan or an Offering to citizens or residents
of a non-U.S. jurisdiction will be less favorable than the terms of options granted under the Plan or the same Offering to employees resident solely in the United States. The Administrator hereby delegates to
and designates the Chief Human Resources Officer of the Company (or such 

  
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other officer with similar authority), and to his or her delegates or designates, the authority to assist the Administrator in the
day-to-day administration of the Plan. The Administrator may also delegate some or all of its responsibilities to one or more other persons (which may include Company
personnel) and, to the extent there has been any such delegation, any reference in the Plan to the Administrator shall include the delegate of the Administrator. Every finding, decision and determination made by the Administrator will, to the full
extent permitted by Applicable Laws, be final and binding upon all parties. 
 15. Designation of Beneficiary 

(a) If permitted by the Administrator, a Participant may file a designation of a beneficiary who is to receive any shares of Common Stock and
cash, if any, from the Participant’s notional account under the Plan in the event of such Participant’s death subsequent to an Exercise Date on which the option is exercised but prior to delivery to such Participant of such shares and
cash. In addition, if permitted by the Administrator, a Participant may file a designation of a beneficiary who is to receive any cash from the Participant’s notional account under the Plan in the event of such Participant’s death prior to
exercise of the option. If a Participant is married and the designated beneficiary is not the spouse, spousal consent will be required for such designation to be effective. 

(b) Such designation of beneficiary may be changed by the Participant at any time by notice in a form determined by the Administrator. In the
event of the death of a Participant and in the absence of a beneficiary validly designated under the Plan who is living at the time of such Participant’s death, the Company will deliver such shares and/or cash to the executor or administrator
of the estate of the Participant, or if no such executor or administrator has been appointed (to the knowledge of the Company), the Company, in its discretion, may deliver such shares and/or cash to the spouse or to any one or more dependents or
relatives of the Participant, or if no spouse, dependent or relative is known to the Company, then to such other person as the Company may designate. 

(c) All beneficiary designations will be in such form and manner as the Administrator may designate from time to time. Notwithstanding
Sections 15(a) and 15(b), the Company and/or the Administrator may decide not to permit such designations by Participants in non-U.S. jurisdictions to the extent permitted by Treasury Regulation Section 1.423-2(f). 
 16. Transferability 

Neither Contributions credited to a Participant’s notional account nor any rights with regard to the exercise of an option or to receive shares of Common
Stock under the Plan may be assigned, transferred, pledged or otherwise disposed of in any way (other than by will, the laws of descent and distribution or as provided in Section 15) by the Participant. Any such attempt at
assignment, transfer, pledge or other disposition will be without effect, except that the Company may treat such act as an election to withdraw funds from an Offering Period in accordance with Section 10 hereof. 

17. Use of Funds 
 The Company may use all Contributions
received or held by it under the Plan for any corporate purpose, and the Company will not be obligated to segregate such Contributions except under 

  
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Offerings in which applicable local law requires that Contributions to the Plan by Participants be segregated from the Company’s general corporate funds and/or deposited with an independent
third party for Participants in non-U.S. jurisdictions. Until shares of Common Stock are issued, Participants will only have the rights of an unsecured creditor with respect to such shares. 

18. Adjustments, Dissolution, Liquidation, Merger or Other Corporate Transaction 

(a) Adjustments. In the event that any dividend or other distribution (whether in the form of cash, Common Stock, other securities, or
other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of
Common Stock or other securities of the Company, or other change in the corporate structure of the Company affecting the Common Stock occurs, the Administrator, in order to prevent dilution or enlargement of the benefits or potential benefits
intended to be made available under the Plan, will, in such manner as it may deem equitable, adjust the number and class of Common Stock that may be delivered under the Plan, the Purchase Price per share and the number of shares of Common Stock
covered by each option under the Plan that has not yet been exercised, and the numerical limits of Sections 7 and 13. 
 (b)
Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the Company, any Offering Period then in progress will be shortened by setting a New Exercise Date, and will terminate immediately prior to the
consummation of such proposed dissolution or liquidation, unless provided otherwise by the Administrator. The New Exercise Date will be before the date of the Company’s proposed dissolution or liquidation. The Administrator will notify each
Participant in writing or electronically, prior to the New Exercise Date, that the Exercise Date for the Participant’s option has been changed to the New Exercise Date and that the Participant’s option will be exercised automatically on
the New Exercise Date, unless prior to such date the Participant has withdrawn from the Offering Period as provided in Section 10. 

(c) Merger or Other Corporate Transaction. In the event of a merger, sale or other similar corporate transaction involving the Company,
each outstanding option will be assumed or an equivalent option substituted by the successor corporation or a Parent or Subsidiary of the successor corporation. In the event that the successor corporation refuses to assume or substitute for the
option, the Offering Period with respect to which such option relates will be shortened by setting a New Exercise Date on which such Offering Period shall end. The New Exercise Date will occur before the date of the Company’s proposed merger,
sale or other similar corporate transaction. The Administrator will notify each Participant in writing or electronically prior to the New Exercise Date, that the Exercise Date for the Participant’s option has been changed to the New Exercise
Date and that the Participant’s option will be exercised automatically on the New Exercise Date, unless prior to such date the Participant has withdrawn from the Offering Period as provided in Section 10. 

19. Amendment or Termination 
 (a) The
Administrator, in its sole discretion, may amend, suspend, or terminate the Plan, or any part thereof, at any time and for any reason. If the Plan is terminated, the Administrator, in its discretion, may elect to terminate all outstanding Offering
Periods either immediately or upon completion of the purchase of shares of Common Stock on the next Exercise 

  
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Date (which may be sooner than originally scheduled, if determined by the Administrator in its discretion), or may elect to permit Offering Periods to expire in accordance with their terms (and
subject to any adjustment pursuant to Section 18). If the Offering Periods are terminated prior to expiration, all amounts then credited to Participants’ notional accounts that have not been used to purchase shares of
Common Stock will be returned to the Participants (without interest thereon, except as otherwise required under local laws, as further set forth in Section 12) as soon as administratively practicable. 

(b) Without stockholder consent and without limiting Section 19(a), the Administrator will be entitled to change the
Offering Periods or Purchase Periods, designate separate Offerings, limit the frequency and/or number of changes in the amount withheld during an Offering Period, establish the exchange ratio applicable to amounts withheld in a currency other than
U.S. dollars, permit payroll withholding in excess of the amount designated by a Participant in order to adjust for delays or mistakes in the Company’s processing of properly completed withholding elections, establish reasonable waiting and
adjustment periods and/or accounting and crediting procedures to ensure that amounts applied toward the purchase of Common Stock for each Participant properly correspond with Contribution amounts, and establish such other limitations or procedures
as the Administrator determines in its sole discretion advisable that are consistent with the Plan. 
 (c) In the event the Administrator
determines that the ongoing operation of the Plan may result in unfavorable financial accounting consequences, the Administrator may, in its discretion and, to the extent necessary or desirable, modify, amend or terminate the Plan to reduce or
eliminate such accounting consequence including, but not limited to: 
 (i) amending the Plan to conform with the safe harbor
definition under the Financial Accounting Standards Board Accounting Standards Codification Topic 718 (or any successor thereto), including with respect to an Offering Period underway at the time; 

(ii) altering the Purchase Price for any Offering Period or Purchase Period including an Offering Period or Purchase Period
underway at the time of the change in Purchase Price; 
 (iii) shortening any Offering Period or Purchase Period by setting a
New Exercise Date, including an Offering Period or Purchase Period underway at the time of the Administrator action; 
 (iv)
reducing the maximum percentage of Compensation a Participant may elect to set aside as Contributions; and 
 (v) reducing
the maximum number of Shares a Participant may purchase during any Offering Period or Purchase Period. 
 Such modifications or amendments will not require
stockholder approval or the consent of any Plan Participants. 

  
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 20. Notices 

All notices or other communications by a Participant to the Company under or in connection with the Plan will be deemed to have been duly given when received
in the form and manner specified by the Company at the location, or by the person, designated by the Company for the receipt thereof. 
 21. Conditions
Upon Issuance of Shares 
 (a) Shares of Common Stock will not be issued with respect to an option unless the exercise of such option and
the issuance and delivery of such shares pursuant thereto will comply with all applicable provisions of law, domestic or foreign, including the Securities Act of 1933, as amended, the Exchange Act, the rules and regulations promulgated thereunder,
and the requirements of any stock exchange upon which the shares may then be listed, and will be further subject to the approval of counsel for the Company with respect to such compliance. 

(b) As a condition to the exercise of an option, the Company may require the person exercising such option to represent and warrant at the time
of any such exercise that the shares are being purchased only for investment and without any present intention to sell or distribute such shares if, in the opinion of counsel for the Company, such a representation is required by any of the
aforementioned applicable provisions of Applicable Law. 
 22. Term of Plan 

The Plan will become effective upon the earlier to occur of its adoption by the Board or its approval by the stockholders of the Company. It will continue in
effect until terminated pursuant to Section 19. 
 23. Stockholder Approval 

The Plan will be subject to approval by the stockholders of the Company within 12 months after the date the Plan is adopted by the Board. Such stockholder
approval will be obtained in the manner and to the degree required under Applicable Laws. 
 24. Governing Law 

This Plan and any agreements or other documents hereunder shall be interpreted and construed in accordance with the laws of the State of Delaware and
applicable federal law. Any reference in this Plan or in any agreements or other documents hereunder to a provision of law or to a rule or regulation shall be deemed to include any successor law, rule or regulation of similar effect or
applicability. 
 25. Severability 
 If any provision of
the Plan is or becomes or is deemed to be invalid, illegal, or unenforceable for any reason in any jurisdiction or as to any Participant, such invalidity, illegality or unenforceability shall not affect the remaining parts of the Plan, and the Plan
shall be construed and enforced as to such jurisdiction or Participant as if the invalid, illegal or unenforceable provision had not been included. 

  
 12 

 26. Interpretation 

Headings are given to the Sections and subsections of the Plan solely as a convenience to facilitate reference and shall not be deemed in any way material or
relevant to the construction or interpretation of the Plan or any provision thereof. Words in the masculine gender shall include the feminine gender, and where appropriate, the plural shall include the singular and the singular shall include the
plural. The use herein of the word “including” following any general statement, term or matter shall not be construed to limit such statement, term or matter to the specific items or matters set forth immediately following such word or to
similar items or matters, whether or not non-limiting language (such as “without limitation”, “but not limited to”, or words of similar import) is used with reference thereto, but rather
shall be deemed to refer to all other items or matters that could reasonably fall within the broadest possible scope of such general statement, term or matter. References herein to any agreement, instrument or other document means such agreement,
instrument or other document as amended, supplemented and modified from time to time to the extent permitted by the provisions thereof and not prohibited by the Plan. 

  
 13 

 EXHIBIT A 

PETCO HEALTH AND WELLNESS COMPANY, INC. 

2020 EMPLOYEE STOCK PURCHASE PLAN 

SUBSCRIPTION AGREEMENT 
  

			
	_____ Original Application	  	Offering
Date:                                        
                                
	_____ Change in Payroll Deduction Rate	  	

 1. hereby elects to participate in the Petco Health and Wellness Company, Inc. 2020 Employee Stock
Purchase Plan (the “Plan”) and subscribes to purchase shares of the Company’s Common Stock in accordance with this Subscription Agreement and the Plan. Capitalized terms used but not defined in this Subscription
Agreement have the meanings provided under the Plan 
 2. I hereby authorize payroll deductions from each paycheck in the amount of ____% of
my Compensation on each payday (from 0% to 15%) during the Offering Period in accordance with the Plan, commencing with the next Offering Period; provided that, in no event may more than $25,000 of Common Stock be purchased under the Plan in any
calendar year. (Please note that no fractional percentages are permitted.) 
 3. I understand that said payroll deductions will be
accumulated for the purchase of shares of Common Stock at the applicable Purchase Price determined in accordance with the Plan. I understand that if I do not withdraw from an Offering Period, any accumulated payroll deductions will be used to
automatically exercise my option and purchase Common Stock under the Plan. 
 4. I have received a copy of the complete Plan and its
accompanying prospectus. I understand that my participation in the Plan is in all respects subject to the terms of the Plan. 
 5. Shares of
Common Stock purchased for me under the Plan should be issued in the name(s) of
                                         
                (Eligible Employee or Eligible Employee and Spouse only). 

6. I understand that if I dispose of any shares received by me pursuant to the Plan within two years after the Offering Date (the first day of
the Offering Period during which I purchased such shares), I will be treated for federal income tax purposes as having received ordinary income at the time of such disposition in an amount equal to the excess of the fair market value of the shares
at the time such shares were purchased by me over the price that I paid for the shares. I acknowledge and agree that the shares must remain in a brokerage account specified by the Company until at least 12 months following the Exercise Date and may
not be sold by me until at least 12 months after the applicable Exercise Date. The Company may, but will not be obligated to, withhold from my compensation the amount necessary to meet any applicable withholding obligation including any withholding
necessary to make available to the Company any tax 

 
deductions or benefits attributable to sale or early disposition of Common Stock by me. If I dispose of such shares at any time after the expiration of the
two-year holding period, I understand that I will be treated for federal income tax purposes as having received income only at the time of such disposition, and that such income will be taxed as ordinary
income only to the extent of an amount equal to the lesser of (a) the excess of the fair market value of the shares at the time of such disposition over the purchase price which I paid for the shares, or (b) 15% of the fair market value of the
shares on the first day of the Offering Period. The remainder of the gain, if any, recognized on such disposition will be taxed as capital gain. 

7. I hereby agree to be bound by the terms of the Plan. The effectiveness of this Subscription Agreement is dependent upon my eligibility to
participate in the Plan. 
  

			
	Employee’s Social Security #:	 	  

		
	Employee’s Address:	 	  

		
		 	  

 I UNDERSTAND THAT THIS SUBSCRIPTION AGREEMENT WILL REMAIN IN EFFECT THROUGHOUT SUCCESSIVE OFFERING
PERIODS UNLESS TERMINATED BY ME. 
  

							
		 	                        	  	Date:	 	  

	  
 Signature
	 		  		 	

  
 A-2 

 EXHIBIT B 

PETCO HEALTH AND WELLNESS COMPANY, INC. 

2020 EMPLOYEE STOCK PURCHASE PLAN 

NOTICE OF WITHDRAWAL 
 The
undersigned participant in the Offering Period of the Petco Health and Wellness Company, Inc. 2020 Employee Stock Purchase Plan that began on ______________, ______ (the “Offering Date”) hereby notifies the Company that he or
she hereby withdraws from the Offering Period. He or she hereby directs the Company to pay to the undersigned as soon as reasonably practicable all the payroll deductions credited to his or her notional account with respect to such Offering Period.
The undersigned understands and agrees that his or her option for such Offering Period will be automatically terminated. The undersigned understands further that no further payroll deductions will be made for the purchase of shares in the current
Offering Period and the undersigned will be eligible to participate in succeeding Offering Periods only by delivering to the Company a new Subscription Agreement. 

 

			
	 Participant’s Name:
	 	  

		
	 Participant’s Address:
	 	  

		
		 	  

  

							
		 	                        	  	Date:	 	  

	  
 SignatureEX-10.23

 Exhibit 10.23 

AMENDED AND RESTATED EMPLOYMENT AGREEMENT 

This AMENDED AND RESTATED EMPLOYMENT AGREEMENT (the “Agreement” or “Employment Agreement”) is made
and entered into as of December 3, 2020 to be effective immediately prior to the consummation of the Qualified Public Offering (as defined below) (the date of such consummation, the “Effective Date”) by and between Petco
Animal Supplies Stores, Inc., a Delaware corporation (“Petco” or “the Company”), PET Acquisition LLC, a Delaware limited liability company (including its successor, Petco Health and Wellness Company, Inc.,
“Parent”), and Ronald V. Coughlin (“Executive”) and supersedes in its entirety that certain employment agreement dated as of June 4, 2018 (such date, the “Prior Effective Date”)
between the Company and the Executive. Petco, Parent and Executive are hereinafter collectively referred to as the “Parties,” and are individually referred to as a “Party.” If the Qualified Public Offering
does not occur on or before June 30, 2021, this Agreement shall be null and void and the Prior Employment Agreement shall continue in full force and effect. 

RECITALS 
 A. WHEREAS,
Petco and the Executive are parties to an employment agreement dated June 4, 2018 (the “Prior Employment Agreement”); 

B. WHEREAS, the Board of Managers of Parent (including the Board of Directors of its successor, Petco Health and Wellness Company, Inc., the
“Board”) believes it is in the best interests of Petco and Parent to amend and restate the Prior Employment Agreement in anticipation of Parent becoming a publicly traded company, and to make certain other changes as set forth
herein; 
 C. WHEREAS, Petco desires to continue to assure the association and services of Executive in order to retain Executive’s
experience, skills, abilities, background and knowledge, and is willing to engage Executive’s services on the terms and conditions set forth in this Agreement; and 

D. WHEREAS, Executive has served as the Chief Executive Officer (“CEO”) of Petco since June 13, 2018 (the “Start
Date”) and Executive desires to continue to serve as the CEO of Petco and Parent and to serve as Chairman of Parent, and is willing to accept such employment on the terms and conditions set forth in this Agreement. 

AGREEMENT 
 NOW,
THEREFORE, in consideration of the foregoing Recitals and the mutual promises and covenants herein contained, and for other good and valuable consideration, the sufficiency of which is hereby acknowledged, the Parties, intending to be legally bound,
agree as follows: 
  

	1.	 EMPLOYMENT. 

1.1 Petco hereby employs Executive, and Executive hereby accepts employment by Petco, upon the terms and conditions set forth in this
Agreement, for the period commencing on the Effective Date and ending as provided in Section 4 hereof (the “Employment Period”). In addition, while employed by Petco pursuant to this Agreement, Executive shall serve as a
member of the Board. 

 1.2 Executive shall serve as the CEO of Petco and the Chairman and CEO of Parent and shall
report to the Board. 
 1.3 Executive shall do and perform all services, acts or things necessary or advisable to manage and conduct the
business of the Company and Parent, consistent with the bylaws of the Company and Parent and as required by the Board, and which are customarily associated with his position as Chairman and CEO. 

1.4 Unless the Parties otherwise agree in writing, during the Employment Period, Executive shall perform his services at Petco’s offices,
located in San Diego, California or such other facilities of the Company as the Company and Executive may agree upon from time to time; provided, however, that the Company may from time to time require Executive to travel temporarily to other
locations in connection with the Company’s business. 
  

	2.	 LOYAL AND CONSCIENTIOUS PERFORMANCE; NONCOMPETITION. 

2.1 During the Employment Period, Executive shall devote his full business energies, interest, abilities and productive time to Petco. This
section shall not preclude Executive from managing personal investments, subject to Section 2.3, engaging in civic, charitable or religious activities, or serving on boards of directors of companies or organizations that do not present any
conflict with the interests of the Company or otherwise adversely affect the Executive’s performance of his duties. 
 2.2 Except with
the prior written consent of the Board, Executive will not, during the Employment Period, compete with the Company, either directly or indirectly, in any manner or capacity, as adviser, consultant, principal, agent, partner, officer, director,
employee, member of any association or otherwise, in any phase of developing, manufacturing or marketing any product or service that is in the same field of use or that otherwise competes with a product or service that is offered, is actively under
development, or is actively being considered for development by the Company. 
 2.3 Except as permitted herein, Executive agrees not to
acquire, assume or participate in, directly or indirectly, any position, investment or interest that Executive knows or should know is adverse or antagonistic to the Company, its business, clients, strategic partners, investors or prospects.
Ownership by Executive, as a passive investment, of less than five percent (5%) of the outstanding shares of capital stock of any corporation with one or more classes of its capital stock listed on a national securities exchange or publicly traded
in the over-the-counter market shall not constitute a breach of this paragraph. If common stock in Parent becomes publicly traded on a national securities exchange,
ownership by Executive of Parent’s common stock shall not constitute a breach of this paragraph, provided that the Executive shall be subject to Parent’s insider trading and other similar policies, as may be adopted and in effect from time
to time. 

  
 2 

	3.	 COMPENSATION AND BENEFITS. 

3.1 Base Salary. The Company will pay Executive an annual base salary (the “Base Salary”) of one million one-hundred thousand dollars ($1,100,000) per year, payable in accordance with the Company’s standard payroll practices. Such salary shall be prorated for any partial year of employment on the basis of a 365-day fiscal year. 
 3.2 Executive’s Base Salary shall be reviewed annually and may be increased
(but not decreased) in the Company’s sole discretion. 
 3.3 Withholding. All of Executive’s compensation, including amounts
payable pursuant to Section 4.1, shall be subject to withholding taxes, standard deductions and any other employment taxes as are required to be collected or withheld by the Company under applicable law. 

3.4 Repayment Obligation. Executive agrees that, if Executive’s employment is terminated by the Company for Cause (as defined
below) or Executive resigns without Good Reason (as defined below), in either case, prior to the third anniversary of the Start Date, Executive will promptly repay to the Company two million six hundred
sixty-six thousand six hundred sixty-six dollars ($2,666,666). If Executive fails to repay any portion of any amount owed pursuant to the immediately-preceding sentence,
the Company and its affiliates may, subject to Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), withhold any compensation or other payments owed to Executive to the extent necessary to satisfy such
repayment obligation. 
 3.5 Annual Performance Bonus. Executive will be eligible for a bonus payment for each fiscal year of the
Company (the “Annual Performance Bonus”), with a target bonus of one hundred twenty-five percent (125%) of Executive’s annualized Base Salary for the applicable fiscal year, based on the achievement of specific performance
criteria established by the Board in consultation with Executive. The annual bonus earned by Executive shall be paid to Executive in no event later than the later of (i) the 15th day of the third month following the end of the Executive’s
taxable year in which such annual bonus is earned or (ii) the 15th day of the third month following the end of the Company’s taxable year in which such bonus is earned. Executive must be actively employed at Petco at the time the bonus is
paid in order to be eligible to receive the payment, except as provided in Sections 4.1(b) or 4.1(c). 
 3.6 Special Performance Bonus;
Special RSU Grant. 
 (a) If the Company’s EBITDA exceeds $500 million for any two consecutive fiscal years
that commence on or after January 2019, Executive shall be paid a cash bonus of Five Million Dollars ($5,000,000) (the “Special Performance Bonus”), subject to his continued employment through the last day of the second such
fiscal year, except as provided in Section 4.1(b)(iv) and Section 4.1(c)(iv). Such bonus shall be payable at the same time as the Annual Performance Bonus described in Section 3.5 that is earned for such second fiscal year. For
purposes hereof, “EBITDA” means the Company’s earnings before interest, taxes, depreciation and amortization, as determined by the Board in good faith, provided that EBITDA shall be measured and adjusted on the same basis

  
 3 

 
used by the Company in measuring the Company’s adjusted EBITDA for the fiscal year that ended in January 2018, subject to reasonable further adjustments by the Board for acquisitions,
dispositions, non-recurring items, and other appropriate circumstances. For the avoidance of doubt, (i) only one Special Performance Bonus may be paid hereunder and (ii) if the Special RSUs described
below are not granted (i.e., because a Qualified Public Offering does not occur within thirty (30) days of the last day of the Company’s 2020 fiscal year), this paragraph shall continue in effect and Executive shall remain eligible to
receive a Special Performance Bonus pursuant to the terms hereof. 
 (b) Notwithstanding the foregoing, in lieu of the
Special Performance Bonus, if a Qualified Public Offering (as defined below) occurs no later than thirty (30) days following the last day of the Company’s 2020 fiscal year, Parent shall grant Executive restricted stock units (the
“Special RSUs”) with respect to common stock with a fair market value of $5,000,000 as of the date of the Qualified Public Offering, as determined by the Board in good faith. Such Special RSUs shall be subject to the Equity Plan and
a grant agreement with Executive, and shall fully vest within 30 days after the end of the Company’s 2021 fiscal year only if the Company’s EBITDA (as determined by the Board in good faith) exceeds $500 million for the Company’s
2021 fiscal year, subject to Executive’s continued employment through the last day of such fiscal year except as provided in Section 4.1(b)(iv), Section 4.1(c)(iv) and Section 4.1(d). If the Special RSUs are granted, no Special
Performance Bonus shall be payable hereunder. For purposes hereof, “Qualified Public Offering” means the sale in an underwritten public offering registered under the Securities Act of 1933, as amended, of shares of the Parent’s
common stock having an aggregate offering value of at least $30 million. 
 3.7 Business Expenses. During the Employment Period,
the Company agrees to reimburse Executive for all reasonable and necessary business expenses subject to the Company’s standard requirements regarding the reporting and documentation of such expenses. 

3.8 Benefits. During the Employment Period, Executive shall, in accordance with Company policy and the terms of any then applicable plan
documents, be entitled to participate in the Petco group medical, dental, vision, 401(k), deferred compensation, and flex spending plans and other benefits, in each case, on a basis no less favorable than on which such plans, programs or benefits
are provided to the Company’s other senior executives from time to time. It is understood that the Company may modify or cancel any or all such plans, programs or benefits in its discretion, consistent with the requirements of state or federal
law. Currently these benefits, plans and programs include the elements described in the remainder of Sections 3.9 through 3.14. 
 3.9
Financial Planning and Tax Services. Financial, investment, estate and tax planning services from AYCO Financial Services (or such other financial services company as may be designated by Executive having an equal or lower cost) will be
provided at no cost to Executive. 
 3.10 Disability and Life Insurance. Short-term and long-term disability insurance, Company-paid
Group Term Life Insurance equal to three times Executive’s annual earnings up to a maximum of $1,000,000.00, and AD&D Insurance will be provided at no cost to Executive. 

  
 4 

 3.11 401(k) Savings Plan. Executive will be eligible to participate in the Company
sponsored 401(k) plan, provided that Executive meets all eligibility requirements. Under current plan terms, Executive may elect to contribute up to sixty (60) percent of his salary on a tax-deferred
basis (subject to IRS annual contribution limits and any plan discrimination testing limits), and Petco will provide a matching one hundred percent (100%) contribution on the first one percent (1%) and fifty percent (50%) contribution on the next
two percent (2%) of Executive’s deferred salary contribution. 
 3.12 Paid Time Off. Executive will be entitled to Paid Time Off
(PTO) in accordance with the Company’s then existing standard policy for the Company’s senior executives. PTO must be taken according to the terms of Petco’s policy and Executive shall use such PTO in a manner that is minimally
disruptive to Company’s business. 
 3.13 Non-Qualified Deferred Compensation Plan.
Executive may contribute up to eighty-five percent (85%) of his base pay and up to one hundred percent (100%) of his bonus pay each calendar year into the Company’s non-qualified deferred compensation
plan. Petco currently has a discretionary match of $.50 on each dollar up to a maximum of three percent (3%) of an employee’s contribution for base pay and $.50 on each dollar up to a maximum of six percent (6%) of an employee’s
contribution for bonus pay. 
 3.14 Petco Discount and Other Benefits. Executive will be eligible to participate in a number of
Petco-sponsored benefits, including a twenty percent (20%) merchandise discount at all Petco stores, discounted pet insurance through Petco’s then existing preferred pet insurance vendor, membership privileges at the San Diego County Credit
Union, a discount at 24-Hour Fitness Centers, discounted childcare at Children’s World Learning Centers, and an annual executive physical through Scripps Executive Health. 

3.15 Private Air Travel. Executive will be entitled to private air travel in accordance with Petco’s travel policy, as such travel
policy may be amended from time to time. 
  

	4.	 TERM 

4.1 Petco is an “at will” employer and as such, employment with Petco is not for a fixed term or definite period and
may be terminated at the will of either party, with or without Cause, and with or without prior notice. No supervisor or other representative of the Company (except the Board) has the authority to enter into any agreement for employment for any
specified period of time, or to make any agreement contrary to the preceding sentence. This is the final and complete agreement on this term. Any contrary representations which may have been made or which may be made to Executive are superseded by
this Agreement. Upon termination of Executive’s employment with Petco for any reason (such cessation of employment, a “termination” and the effective date of such termination, the “termination date” or
“date of termination”), he shall automatically be deemed to have resigned from all positions with the Company and its affiliates. 

  
 5 

 (a) Accrued Obligations. If the Employment Period is terminated by
the Company or by Executive for any reason, including as a result of Executive’s death or Disability (as defined below), Executive (or Executive’s legal representatives or estate, as applicable) shall be entitled to receive his earned but
unpaid Base Salary through his termination date plus any accrued but unused PTO and vacation and unreimbursed business expenses through the termination date, in each case, payable within five days following the termination date (or such earlier date
required by applicable law), in addition to any other vested employee benefits to which Executive is entitled as of the termination date under the employee benefit plans of the Company. 

(b) Covered Termination Other Than During a Change in Control Period. Notwithstanding the
at-will nature of the employment relationship between Petco and Executive, if Executive experiences a Covered Termination at any time other than during a Change in Control Period, explicitly conditioned upon
Executive’s furnishing to the Company, and not revoking, an executed waiver and release of claims (in substantially the form of APPENDIX B, which is attached to this Agreement), in addition to any amounts under Section 4.1(a)
herein, Executive shall also be entitled to receive: 
 (i) A lump sum payment equal to eighteen (18) months of his
current Base Salary in effect as of the date of termination, payable thirty (30) days after the date of termination (or, if later, when the release of claims becomes irrevocable, but no later than sixty (60) days after the date of
termination); 
 (ii) A lump sum payment of any unpaid Annual Performance Bonus for a fiscal year ending prior to the date of
termination, payable when such Annual Performance Bonus would have otherwise been payable to Executive pursuant to Section 3.5 had Executive’s employment not terminated; 

(iii) A lump sum payment equal to the pro rata portion of any Annual Performance Bonus that Executive would have been entitled
to receive pursuant to Section 3.5 in respect of the fiscal year in which such termination occurs based on the ratio of the number of days employed during such fiscal year to 365, but only to the extent of achievement of the applicable Company
performance criteria (disregarding any individual performance criteria) for such Annual Performance Bonus, payable when such Annual Performance Bonus would have otherwise been payable to Executive pursuant to Section 3.5 had Executive’s
employment not terminated; 
 (iv) If (A) the Special Performance Bonus has not previously been paid, the Special RSUs
have not been granted and such termination occurs in the fiscal year immediately following a fiscal year in which the Company’s EBITDA (as determined pursuant to Section 3.6) exceeded $500 million, Executive shall receive a lump sum
payment equal to the pro rata portion of the Special Performance Bonus (if any) that Executive would have been entitled to receive pursuant to Section 3.6 in respect of the fiscal year in which such termination occurs, based on the ratio of the
number of days employed during the applicable two consecutive fiscal years to 730, but only to the extent of achievement of the applicable EBITDA performance metric for such second fiscal year, payable when such Special Performance Bonus would have
otherwise been payable to Executive pursuant to Section 3.6 had Executive’s employment not terminated, or 

  
 6 

 
(B) if the Special RSUs were granted, the termination occurs in the Company’s 2021 fiscal year and the Company’s EBITDA (as determined pursuant to Section 3.6) exceeds
$500 million for such fiscal year, Executive shall be entitled to pro rata vesting of the Special RSUs that would have vested based on the ratio of the number of days that Executive was employed during fiscal 2021 to 365, vesting at the time
the Special RSUs would have vested had Executive’s employment not terminated; 
 (v) With respect to outstanding equity
or equity-based awards granted by Parent to Executive and held by Executive on his termination date which vest solely on the basis of service (“Time-Based Awards”), effective on Executive’s termination date, the portion of each
Time-Based Award that would have become vested had Executive remained continuously employed by Petco for an additional twelve (12) months following his termination date shall become vested and exercisable (as applicable); provided, however,
that this Section 4.1(b)(v) shall not apply to the Special RSUs or any outstanding Class C common units in Scooby LP, a Delaware limited partnership (“Scooby”); 

(vi) With respect to outstanding equity or equity-based awards granted by Parent to Executive and held by Executive on his
termination date which vest on the basis of performance (“Performance-Based Awards”), effective on Executive’s termination date, Performance-Based Awards with performance periods that end within the twelve (12) month
period following his termination date will remain outstanding and eligible to become earned (subject to the applicable performance-based vesting conditions set forth in the applicable grant agreement) as if Executive had remained continuously
employed by Petco for an additional twelve (12) months following his termination date; provided, however, that this Section 4.1(b)(vi) shall not apply to the Special RSUs or any outstanding Class C common units in Scooby; and 

(vii) Continued medical benefits at the Company’s sole expense for a period of eighteen (18) months (the
“Severance Period”), to the extent Executive elects and remains eligible to continue those benefits under COBRA; provided, that if the Company determines that it cannot provide such continued medical benefits without adverse
tax consequences to Executive or the Company or for any other reason, then the Company shall, in lieu thereof, provide to Executive a taxable amount equal to the monthly plan premium payment for such medical benefits in substantially equal monthly
installments over the Severance Period (or the remaining portion thereof). 
 (c) Covered Termination During a Change in
Control Period. Notwithstanding the at-will nature of the employment relationship between Petco and Executive, if Executive experiences a Covered Termination during a Change in Control Period, explicitly
conditioned upon Executive’s furnishing to the Company, and not revoking, an executed waiver and release of claims (in substantially the form of APPENDIX B, which is attached to this Agreement), in addition to any amounts under
Section 4.1(a) herein, Executive shall also be entitled to receive: 

  
 7 

 (i) A lump sum payment equal to two (2) times the sum of
(A) Executive’s current Base Salary in effect as of the termination date, plus (B) an amount equal to Executive’s then current target Annual Performance Bonus; provided, however, that if Executive’s Base Salary or target
Annual Performance Bonus has been reduced during the sixty (60) day period prior to Executive’s termination date, then for purposes of such severance payment calculation the higher Base Salary and/or target Annual Performance Bonus, as
applicable, will be used; provided, further, however, that the term “target Annual Performance Bonus” as used in this Section 4.1(c)(i) is intended merely as a method to compute the amount of the severance payment provided for herein.
Such lump sum payment shall be payable thirty (30) days after the termination date (or, if later, when the release of claims becomes irrevocable, but no later than sixty (60) days after the termination date); 

(ii) A lump sum payment of any unpaid Annual Performance Bonus for a fiscal year ending prior to the termination date, payable
when such Annual Performance Bonus would have otherwise been payable to Executive pursuant to Section 3.5 had Executive’s employment not terminated; 

(iii) A lump sum payment equal to the pro rata portion of any Annual Performance Bonus that Executive would have been entitled
to receive pursuant to Section 3.5 in respect of the fiscal year in which such termination occurs based on the ratio of the number of days employed during such fiscal year to 365, but only to the extent of achievement of the applicable Company
performance criteria (disregarding any individual performance criteria) for such Annual Performance Bonus, payable when such Annual Performance Bonus would have otherwise been payable to Executive pursuant to Section 3.5 had Executive’s
employment not terminated; 
 (iv) If (A) the Special Performance Bonus has not previously been paid, the Special RSUs
have not been granted and such termination occurs in the fiscal year immediately following a fiscal year in which the Company’s EBITDA (as determined pursuant to Section 3.6) exceeded $500 million, Executive shall receive a lump sum
payment equal to the Special Performance Bonus that Executive would have been entitled to receive pursuant to Section 3.6 in respect of the fiscal year in which such termination occurs, but only to the extent of achievement of the applicable
EBITDA performance metric for such second fiscal year, payable when such Special Performance Bonus would have otherwise been payable to Executive pursuant to Section 3.6 had Executive’s employment not terminated or (B) if the Special
RSUs were granted and the termination occurs in the Company’s 2021 fiscal year and the Company’s EBITDA (as determined pursuant to Section 3.6) exceeds $500 million for such fiscal year, Executive shall be entitled to vesting of
the Special RSUs at the time the Special RSUs would have vested had Executive’s employment not terminated; 
 (v)
Effective on Executive’s termination date, full vesting and exercisability (as applicable) of all Time-Based Awards; provided, however, that this Section 4.1(c)(v) shall not apply to the Special RSUs or any outstanding Class C common
units in Scooby; 

  
 8 

 (vi) Effective on Executive’s termination date, all Performance-Based
Awards will remain outstanding and eligible to become earned (subject to the applicable performance-based vesting conditions set forth in the applicable grant agreement) as if Executive had remained continuously employed by Petco through settlement
of the Performance-Based Award; provided, however, that this Section 4.1(c)(vi) shall not apply to the Special RSUs or any outstanding Class C common units in Scooby; and 

(vii) Continued medical and/or dental insurance benefits (including family enrollment, if applicable) at the Company’s
sole expense for the Severance Period, to the extent Executive elects and remains eligible to continue those benefits under COBRA; provided, that if the Company determines that it cannot provide such continued benefits without adverse tax
consequences to Executive or the Company or for any other reason, then the Company shall, in lieu thereof, provide to Executive a taxable amount equal to the monthly plan premium payment for such medical and/or dental benefits in substantially equal
monthly installments over the Severance Period (or the remaining portion thereof). 
 (d) Termination Due to Death or
Disability. In the event of Executive’s termination due to death or Disability, in addition to any amounts under Section 4.1(a) herein, Executive shall also be entitled to receive: 

(i) Effective on Executive’s termination date, full vesting and exercisability (as applicable) of all Time-Based Awards;
provided, however, that this Section 4.1(d)(i) shall not apply to the Special RSUs or any outstanding Class C common units in Scooby; 

(ii) Effective on Executive’s termination date, all Performance-Based Awards will remain outstanding and eligible to
become earned (subject to the applicable performance-based vesting conditions set forth in the applicable grant agreement) as if Executive had remained continuously employed by Petco through settlement of the Performance-Based Award; provided,
however, that this Section 4.1(d)(ii) shall not apply to the Special RSUs or any outstanding Class C common units in Scooby; and 

(iii) If the Special RSUs were granted and the termination occurs in the Company’s 2021 fiscal year and the Company’s
EBITDA (as determined pursuant to Section 3.6) exceeds $500 million for such fiscal year, Executive shall be entitled to vesting of the Special RSUs at the time the Special RSUs would have vested had Executive’s employment not
terminated. 

  
 9 

 4.2 Section 409A. 

(a) To the extent applicable, this Agreement shall be interpreted and applied consistent and in accordance with
Section 409A of the Code and Department of Treasury regulations and other interpretive guidance issued thereunder. If, however, the Parties determine that any compensation or benefits payable under this Agreement may be or become subject to
Section 409A of the Code, the Parties shall cooperate to adopt such amendments to this Agreement or to adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take such other actions, as
the Parties determine to be necessary or appropriate to (i) exempt the compensation and benefits payable under this Agreement from Section 409A of the Code and/or preserve the intended tax treatment of such compensation and benefits, or
(ii) comply with the requirements of Section 409A of the Code. In furtherance of the foregoing, Executive’s date of termination of service with the Company for purposes of determining the date that any payment or benefit that is
treated as nonqualified deferred compensation under Section 409A of the Code is to be paid or provided (or in determining whether an exemption to such treatment applies), shall be the date on which Executive has incurred a “separation
from service” within the meaning of Section 409A(a)(2)(A)(i) and applicable guidance thereunder (“Separation from Service”). Notwithstanding any provision of this Agreement to the contrary, to the extent
necessary to avoid the imposition of taxes under Section 409A of the Code, no payment or distribution under this Agreement that becomes payable by reason of Executive’s termination of employment with the Company will be made to Executive
unless Executive’s termination of employment constitutes a Separation from Service. In addition, for purposes of this Agreement, each amount to be paid or benefit to be provided shall be construed as a separate identified payment for purposes
of Section 409A of the Code. To the extent the Company is required pursuant to this Agreement to reimburse expenses or provide a gross-up for taxes incurred by Executive, and such reimbursement or gross-up obligation is subject to Section 409A of the Code, the Company shall reimburse any such eligible expenses by the end of the calendar year next following the calendar year in which the expense was
incurred (and provide the tax gross-up payments no later than the end of the calendar year next following the calendar year in which the related taxes were remitted), subject to any earlier required deadline
for payment otherwise applicable under this Agreement. In addition, to the extent any expense reimbursements or in-kind benefits are subject to Section 409A, (x) the amount of expenses reimbursed in
one year shall not affect the amount eligible for reimbursement in any subsequent year, and the amount of any in-kind benefits provided in one year shall not affect the amount of
in-kind benefits provided in any other year, and (y) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another
benefit. 
 (b) If the Company in good faith determines that Executive is a “specified employee” (as defined
in Section 409A(a)(2)(B)(i) of the Code) with respect to the payment of benefits or the provision of benefits coverage under this Agreement at the time of his Separation from Service and that the immediate commencement of such payment or
provision, as otherwise provided in this Agreement, would constitute a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code, then, to the extent necessary to avoid the imposition of taxes under Section 409A of the Code,
notwithstanding any provision to the contrary in this Agreement (and in an effort to spare Executive such additional taxes), the Company shall delay the commencement of payments or benefits coverage to which Executive would otherwise become entitled
under this Agreement in connection with Executive’s Separation from Service until the earlier of: 

  
 10 

 (i) the expiration of the six (6)-month period measured from the date of
Executive’s Separation from Service, or 
 (ii) the date of Executive’s death. 

Upon expiration of the applicable Code Section 409A(a)(2) deferral period, all payments and benefits deferred pursuant to this provision
(whether they would have otherwise been payable in a single sum or in installments in the absence of such deferral) shall be paid or reimbursed to Executive in a lump sum, and any remaining payments and benefits due under this Agreement shall be
paid or provided in accordance with the normal payment dates specified for them herein. 
  

	5.	 DEFINED TERMS. 

The following terms referred to in this Agreement shall have the following meanings: 

(a) “Cause” shall mean: 

(i) Executive’s material breach of this Agreement, which breach is not cured within thirty (30) days of receipt by
Executive of written notice from the Board specifying the breach, which notice shall be delivered to Executive within ninety (90) days after such breach is discovered by the Board and shall identify the manner in which the Company believes that
the Executive has committed such breach and the steps required to cure such breach; 
 (ii) The willful failure or refusal
by Executive to substantially perform his duties hereunder that has not been remedied within thirty (30) business days after written demand for substantial performance has been delivered to Executive by the Company, which demand shall be
delivered to Executive within ninety (90) days after the initial existence of such failure or refusal and shall identify the manner in which the Company believes that the Executive has committed such failure or refusal and the steps required to
cure such failure or refusal; 
 (iii) The conviction of Executive of, or the entering of a plea of nolo contendere by
Executive with respect to a felony or a misdemeanor involving moral turpitude; 
 (iv) Executive’s inability or failure
to competently perform his duties hereunder in any material respect due to the use of drugs or alcohol; or 
 (v)
Executive’s material breach of any policy or code of conduct of Petco, Parent or their respective affiliates, which breach, if capable of cure, is not cured within thirty (30) days of receipt by Executive of written notice from the Board
specifying the breach, which notice shall be delivered to Executive within ninety (90) days after such breach is discovered by the Board and shall identify the manner in which the Company believes that the Executive has committed such breach
and the steps required to cure such breach. 

  
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 (b) “Change in Control” shall have the meaning set forth in
the Equity Plan. 
 (c) “Change in Control Period” shall mean the period of time commencing three
(3) months prior to and ending eighteen (18) months following a Change in Control. 
 (d) “Covered
Termination” shall mean a termination of Executive’s employment with Petco and its affiliates by Petco without Cause or by Executive for Good Reason. 

(e) “Disability” shall mean that Executive either (i) is unable to engage in any substantial gainful
activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months or (ii) is, by reason of any
medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than three
months under the Company’s accident and health plan. 
 (f) “Equity Plan” shall mean the Petco Health
and Wellness Company, Inc. 2020 Equity Incentive Plan. 
 (g) “Good Reason” shall mean the
occurrence, without the express written consent of Executive, of any of the following conditions: 
 (i) the removal of
Executive from the Board for any reason while he is entitled to serve on the Board pursuant to Section 1.1; 
 (ii) a
material diminution in Executive’s authority, duties or responsibilities; 
 (iii) Executive is required to report to
any person or body other than the Board; 
 (iv) a material diminution in Executive’s Base Salary or target bonus
amount; 
 (v) the relocation of Executive’s own office to a location more than thirty (30) miles from its present
location; 
 (vi) the failure of the Company to obtain the assumption in writing of its obligation to perform this Agreement
by any successor to all or substantially all of the assets of the Company, whether direct or indirect by a merger, consolidation, sale or similar transaction, unless such assumption occurs by operation of law; or 

  
 12 

 (vii) any other action or inaction that constitutes a material breach by the
Company of the Agreement. 
 If Executive intends to resign for Good Reason for one or more of the conditions listed above,
Executive shall give notice of such intent to the Company within ninety (90) days after the initial existence of such condition, detailing such condition with specificity. If the Company does not remedy the condition within thirty
(30) days of receiving such notice, then any resignation by Executive from the Company within the one hundred eighty (180)-day period beginning with the initial existence of such foregoing condition shall
be deemed a resignation for “Good Reason.” 
  

	6.	 AMENDMENT AND WAIVER. 

6.1 The provisions of this Agreement may be amended or waived only with the prior written consent of the Company and Executive, and no course
of conduct or failure or delay in enforcing the provisions of this Agreement shall affect the validity, binding effect or enforceability of this Agreement. 
  

	7.	 CONFIDENTIAL AND PROPRIETARY INFORMATION; NONSOLICITATION. 

7.1 Executive agrees to execute and abide by the Proprietary Information and Inventions Agreement attached hereto as APPENDIX A. 

7.2 Executive recognizes that his employment with the Company will involve contact with information of substantial value to the Company, which
is not generally known in the trade, and which gives the Company an advantage over its competitors who do not know or use it, including but not limited to, techniques, designs, drawings, processes, inventions, developments, equipment, prototypes,
sales and customer information, and business and financial information relating to the business, products, practices and techniques of the Company, (hereinafter referred to as “Confidential and Proprietary Information”).
Executive will at all times regard and preserve as confidential such Confidential and Proprietary Information obtained by Executive from whatever source and will not, either during his employment with the Company or thereafter, publish or
disclose any part of such Confidential and Proprietary Information in any manner at any time, or use any Confidential and Proprietary Information except on behalf of the Company, without the prior written consent of the Company. 

7.3 While employed by the Company and for one (1) year thereafter, the Executive agrees that in order to protect the Company’s
Confidential and Proprietary Information from unauthorized use, that Executive will not, either directly or through others, (i) solicit or attempt to solicit any employee, consultant or independent contractor of the Company to terminate his or
her relationship with the Company in order to become an employee, consultant or independent contractor to or for any other person or business entity; or (ii) use the Company’s trade secrets or confidential information to solicit or attempt
to solicit the business of any customer, vendor or distributor, partner or strategic alliance of the Company which, at the time of termination or one (1) year immediately prior thereto, was doing business with the Company. 

  
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 7.4 Notwithstanding any other provision in this Agreement or the Proprietary Information and
Inventions Agreement, Executive understands and acknowledges that, pursuant to Section 7 of the Defend Trade Secrets Act of 2016 (which added 18 U.S.C. § 1833(b)), Executive shall not be held criminally or civilly liable under any federal
or state trade secret law for the disclosure of a trade secret that is made (A) (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney and (ii) solely for the purpose of
reporting or investigating a suspected violation of law; or (B) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. If Executive files a lawsuit for retaliation by Petco for reporting a
suspected violation of law, Executive may disclose the Company’s trade secrets to Executive’s attorney and use the trade secret information in the court proceeding if Executive: (i) files any document containing the trade secret under
seal; and (ii) does not disclose the trade secret, except pursuant to court order. Nothing in this Agreement or the Proprietary Information and Inventions Agreement is intended to conflict with 18 U.S.C. § 1833(b) or create liability for
disclosures of trade secrets that are expressly allowed by such Section. 
  

	8.	 INDEMNIFICATION. 

Parent will indemnify Executive pursuant to Parent’s bylaws and the terms of that certain Indemnification Agreement to be entered
into between Parent and Executive in connection with the Qualified Public Offering and provide Executive with directors and officers insurance obtained by Parent, insuring Executive against insurable events which occur or have occurred or may occur
while Executive is a director of Parent or employed by the Company or any of its affiliates, on terms and conditions that are at least as favorable as that then provided to other directors and officers of Parent. This Section shall survive for 6
years following termination of the Employment Period. 
  

	9.	 LEGAL FEES. 

The Company shall reimburse Executive for reasonable legal fees of up to $20,000 actually incurred by Executive in connection with the
preparation and execution of this Agreement; provided, that Executive furnishes the Company with reasonable written supporting documentation with respect to such legal fees. 

 

	10.	 ASSIGNMENT AND BINDING EFFECT. 

This Agreement shall be binding upon and inure to the benefit of Executive and Executive’s heirs, executors, personal representatives,
assigns, administrators and legal representatives. Due to the unique and personal nature of Executive’s duties under this Agreement, neither this Agreement nor any rights or obligations under this Agreement shall be assignable by Executive.
This Agreement shall be binding upon and inure to the benefit of the Company and its successors, assigns and legal representatives. The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise)
to all or substantially all of the business and/or assets of the Company, to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had
taken place. 

  
 14 

	11.	 NOTICES. 

11.1 All notices or demands of any kind required or permitted to be given by the Company or Executive under this Agreement shall be given in
writing and shall be personally delivered (and receipted for), e-mailed (delivery receipt requested), or mailed by certified mail, return receipt requested, postage prepaid, addressed as follows: 

If to the Company: 
 PETCO Animal
Supplies Stores, Inc. 
 10850 Via Frontera 

San Diego, CA 92127 
 Attn:
Chief Legal Officer 
 with a copy (which shall not constitute notice) to: 

Gibson, Dunn & Crutcher LLP 

200 Park Avenue 
 New York, New
York 10166 
 Attention: Sean P. Griffiths 

If to Executive: At the address reflected in the Company’s payroll records. 

Any such written notice shall be deemed received when personally delivered, when delivered by e-mail or
three (3) days after its deposit in the United States mail as specified above. Either Party may change its address for notices by giving notice to the other Party in the manner specified in this section. 

 

	12.	 CHOICE OF LAW. 

This Agreement is made in San Diego, California. The parties agree that it shall be construed and interpreted in accordance with the laws of
the State of California, regardless of the choice of law’s provisions of such state or any other jurisdiction. 
  

	13.	 INTEGRATION. 

This Agreement contains the complete, final and exclusive agreement of the Parties relating to the subject matter of this Agreement, and
supersedes all prior oral and written employment agreements or arrangements between the Parties unless otherwise expressly referenced above. 

  
 15 

	14.	 AMENDMENT. 

This Agreement cannot be amended or modified except by a written agreement signed by Executive and a duly authorized representative of the
Board. 
  

	15.	 WAIVER. 

No term, covenant or condition of this Agreement or any breach thereof shall be deemed waived, except with the written consent of the Party
against whom the wavier in claimed, and any waiver or any such term, covenant, condition or breach shall not be deemed to be a waiver of any preceding or succeeding breach of the same or any other term, covenant, condition or breach. 

 

	16.	 SEVERABILITY. 

The finding by a court or arbitrator of the unenforceability, invalidity or illegality of any provision of this Agreement shall not render any
other provision of this Agreement unenforceable, invalid or illegal. Such court shall have the authority to modify or replace the invalid or unenforceable term or provision with a valid and enforceable term or provision that will most accurately
represent the parties’ intention with respect to the invalid or unenforceable term or provision. 
  

	17.	 INTERPRETATION; CONSTRUCTION. 

The headings set forth in this Agreement are for convenience of reference only and shall not be used in interpreting this Agreement. This
Agreement has been drafted by legal counsel representing the Company, but Executive has been encouraged, and has consulted with, his own independent counsel with respect to the terms of this Agreement. The Parties acknowledge that each Party and its
counsel has reviewed and revised, or had an opportunity to review and revise, this Agreement, and the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the
interpretation of this Agreement. 
  

	18.	 REPRESENTATIONS AND WARRANTIES. 

Executive represents and warrants that he is not restricted or prohibited, contractually or otherwise, from entering into and performing each
of the terms and covenants contained in this Agreement, and that his execution and performance of this Agreement will not violate or breach any other agreements between Executive and any other person or entity. 

  
 16 

	19.	 ARBITRATION. 

19.1 The Parties agree to arbitrate any dispute, claim, or controversy (“Claim”) including, but not limited to,
claims of employment discrimination and harassment under Title VII of the Civil Rights Act, as amended, and the California Fair Employment & Housing Act, age discrimination under the Age Discrimination in Employment Act, as amended, the
Americans with Disabilities Act, 42 U.S.C. section 1981, the Employment Retirement Income Security Act, the California Labor Code, breach of employment contract or the implied covenant of good faith and fair dealing, wrongful discharge, or tortious
conduct (whether intentional or negligent) including defamation, misrepresentation, fraud, infliction of emotional distress, but excluding claims for workers’ compensation benefits or unemployment insurance or claims for wages before the
California Department of Industrial Relations. 
 19.2 The arbitration shall be conducted by a single neutral arbitrator in accordance with
the rules issued by the American Arbitration Association (“AAA”) for resolution of employment disputes. The arbitration shall take place in the City of San Diego. The Company will pay the fee for the arbitration proceeding, as well
as any other charges by the AAA. 
 19.3 The Arbitrator shall issue a written decision or award. The decision or award of the arbitrator
shall be final and binding upon the Parties. The arbitrator shall have the power to award any type of relief that would be available in a court of competent jurisdiction. Any award may thereafter be entered as a judgment in any court of competent
jurisdiction. Executive agrees that any relief to which he is entitled arising out of his employment or cessation of that employment shall be limited to that awarded by the arbitrator. 

19.4 Executive agrees to file any demand for arbitration within the time limit established by the applicable statute of limitations for the
asserted claims. Failure to demand arbitration within the prescribed time period shall result in waiver of any claims. 
 19.5 A court or
arbitrator construing this Agreement may modify, or interpret it to the extent and such manner as to render it enforceable. 
 19.6 Executive
has agreed to this arbitration provision in consideration of his employment by the Company and upon consultation with private counsel of his choice. 

19.7 EXECUTIVE HAS READ AND UNDERSTANDS THIS SECTION 19 WHICH DISCUSSES ARBITRATION. EXECUTIVE UNDERSTANDS THAT BY SIGNING THIS AGREEMENT,
EXECUTIVE AGREES TO SUBMIT ANY FUTURE CLAIMS ARISING OUT OF, RELATED TO, OR IN CONNECTION WITH EXECUTIVE’S EMPLOYMENT OR TERMINATION THEREOF, OR THE INTERPRETATION, VALIDITY, CONSTRUCTION, PERFORMANCE OR BREACH OF THIS AGREEMENT, TO BINDING
ARBITRATION, AND THAT THIS ARBITRATION CLAUSE CONSTITUTES A WAIVER OF EXECUTIVE’S RIGHT TO A JURY TRIAL AND RELATES TO THE RESOLUTION OF ALL DISPUTES RELATING TO ALL RESPECTS OF THE EMPLOYER/EXECUTIVE RELATIONSHIP, INCLUDING BUT NOT LIMITED TO,
DISCRIMINATION CLAIMS. 

  
 17 

	20.	 LITIGATION COSTS. 

Should any litigation, arbitration, or administrative action be commenced between the Parties or their personal representatives concerning any
provision of this Agreement or the rights and duties of any person in relation to this Agreement, the Party or Parties prevailing in such action shall be entitled, in addition to such other relief as may be granted, to a reasonable sum for that
Party’s attorney’s fees, which shall be determined by the court, arbitrator, or administrative agency. 
  

	21.	 TRADE SECRETS OF OTHERS. 

It is the understanding of both the Company and Executive that Executive shall not divulge to the Company and/or its subsidiaries any
confidential information or trade secrets belonging to others, including Executive’s former employers, nor shall the Company and/or its affiliates seek to elicit from Executive any such information. Consistent with the foregoing, Executive
shall not provide to the Company and/or its affiliates, and the Company and/or its affiliates shall not request, any documents or copies of documents containing such information. 

 

	22.	 SECTION 280G. 

Notwithstanding anything to the contrary in this Agreement, if Executive is a “disqualified individual” (as defined in
Section 280G(c) of the Code), and the payments and benefits provided for in this Agreement, together with any other payments and benefits which Executive has the right to receive from Petco, Parent or any of their affiliates, would constitute a
“parachute payment” (as defined in Section 280G(b)(2) of the Code), then the payments and benefits provided for in this Agreement shall be either (a) reduced (but not below zero) so that the present value of such total amounts
and benefits received by Executive from Petco, Parent and their affiliates will be one dollar ($1.00) less than three times Executive’s “base amount” (as defined in Section 280G(b)(3) of the Code) such that no portion of such
amounts and benefits received by Executive shall be subject to the excise tax imposed by Section 4999 of the Code or (b) paid in full, whichever produces the better net after-tax position to
Executive (taking into account any applicable excise tax under Section 4999 of the Code and any other applicable taxes). The reduction of payments and benefits hereunder, if applicable, shall be made by reducing, first, payments or benefits to
be paid in cash hereunder in the order in which such payment or benefit would be paid or provided (beginning with such payment or benefit that would be made last in time and continuing, to the extent necessary, through to such payment or benefit
that would be made first in time) and, then, reducing any benefit to be provided in-kind hereunder or otherwise in a similar order. The determination as to whether any such reduction in the amount of the
payments and benefits provided hereunder is necessary shall be made by a nationally recognized accounting or consulting firm retained by Petco at Petco’s expense. If a reduced payment or benefit is made or provided and through error or
otherwise that payment or benefit, when aggregated with other payments and benefits from Petco, Parent or their affiliates used in determining if a “parachute payment” exists, exceeds one dollar ($1.00) less than three times
Executive’s base amount, then Executive shall immediately repay such excess to Petco, Parent or their affiliate, as applicable, upon notification that an overpayment has been made. 

  
 18 

 Nothing in this Section 22 shall require Petco or Parent to be responsible for, or have any liability
or obligation with respect to, Executives’ excise tax liabilities under Section 4999 of the Code. 

  
 19 

 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first above
written to be effective on the Effective Date. 
  

			
	EXECUTIVE
	
	 /s/ Ronald V. Coughlin

	Ronald V. Coughlin
	
	PETCO ANIMAL SUPPLIES STORES, INC.
		
	By:	 	 /s/ Michelle Bonfilio

	Name: Michelle Bonfilio
	Title: Chief Human Resources Officer
	
	PET ACQUISITION LLC
		
	By:	 	 /s/ Michelle Bonfilio

	Name: Michelle Bonfilio
	Title: Chief Human Resources Officer

 SIGNATURE PAGE To 

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

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