SEC Contract Filing

Filing Date: 2021-01-19

Document Content:
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PETCO HEALTH AND WELLNESS COMPANY, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>2021 EQUITY INCENTIVE PLAN </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>1.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Purpose </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The purpose of this Petco Health and Wellness Company, Inc. 2021 Equity Incentive Plan (the &#147;<B><I>Plan</I></B>&#148;) is to promote and closely align the
interests of employees, officers, <FONT STYLE="white-space:nowrap">non-employee</FONT> directors and other service providers of Petco Health and Wellness Company, Inc. and its stockholders by providing stock-based compensation and other
performance-based compensation. The objectives of the Plan are to attract and retain the best available employees for positions of substantial responsibility and to motivate Participants to optimize the profitability and growth of the Company
through incentives that are consistent with the Company&#146;s goals and that link the personal interests of Participants to those of the Company&#146;s stockholders. The Plan provides for the grant of Options, Stock Appreciation Rights, Restricted
Stock Units, Restricted Stock and Other Stock-Based Awards, any of which may be performance-based, and for Incentive Bonuses, which may be paid in cash, Common Stock or a combination thereof, as determined by the Committee. </P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>2.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Definitions </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As used in the Plan, the following terms shall have the meanings set forth below: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) &#147;<B><I>Affiliate</I></B>&#148; means any entity in which the Company has a substantial direct or indirect equity interest, as
determined by the Committee from time to time. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) &#147;<B><I>Act</I></B>&#148; means the Securities Exchange Act of 1934, as amended.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) &#147;<B><I>Award</I></B>&#148; means an Option, Stock Appreciation Right, Restricted Stock Unit, Restricted Stock, Other Stock-Based
Award or Incentive Bonus granted to a Participant pursuant to the provisions of the Plan, any of which may be subject to performance conditions. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) &#147;<B><I>Award Agreement</I></B>&#148; means a written or electronic agreement or other instrument as may be approved from time to time
by the Committee and designated as such implementing the grant of each Award. An Award Agreement may be in the form of an agreement to be executed by both the Participant and the Company (or an authorized representative of the Company) or
certificates, notices or similar instruments as approved by the Committee and designated as such. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) &#147;<B><I>Beneficial
Owner</I></B>&#148; shall have the meaning set forth in Rule <FONT STYLE="white-space:nowrap">13d-3</FONT> under the Act. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f)
&#147;<B><I>Board</I></B>&#148; means the Board of Directors of the Company. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) &#147;<B><I>Cause</I></B>&#148; has the meaning set forth
in the written employment, offer, services or severance agreement or letter between the Participant and the Company or an Affiliate, or if there is no such agreement or no such term is defined in such agreement, means a Participant&#146;s
Termination of Employment by the Company or an Affiliate by reason of (i)&nbsp;the Participant&#146;s material breach of any agreement between the Participant and the Company or an Affiliate or </P>
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any policy of the Company of an Affiliate; (ii)&nbsp;the willful failure or refusal by the Participant to substantially perform his or her duties; (iii)&nbsp;the commission or