SEC Contract Filing

Filing Date: 2021-05-04

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>a03312021ex101.htm
<DESCRIPTION>EX-10.1
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head>
<!-- Document created using Wdesk -->
<!-- Copyright 2021 Workiva -->
<title>Document</title></head><body><div id="i1b125055842a453ba5079db08cc09246_38"></div><div style="min-height:72pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Exhibit 10.1 </font></div></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">CVS Pharmacy, Inc.</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Restrictive Covenant Agreement</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">(Colleagues Primarily Working or Living in Massachusetts)</font></div><div style="text-align:center"><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">I, Alan Lotvin, enter into this Restrictive Covenant Agreement (&#8220;Agreement&#8221;) with CVS Pharmacy, Inc., on its own behalf and on behalf of its subsidiaries and affiliates (&#8220;CVS&#8221;), which is effective as of the date I sign the Agreement (&#8220;Effective Date&#8221;). In consideration of the mutual promises in this Agreement, the parties agree as follows&#58;</font></div><div style="text-indent:36pt"><font><br></font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">1.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%;padding-left:27.75pt">Consideration for Agreement</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">. In connection with my duties and responsibilities at CVS Health Corporation or one of its subsidiaries or affiliates, including Aetna Inc. (collectively, the &#8220;Corporation&#8221;), the Corporation will provide me with Confidential Information and&#47;or access to the Corporation&#8217;s customers and clients and the opportunity to develop and maintain relationships and goodwill with them. In addition, the Corporation has awarded me equity contingent on the execution of this Agreement and compliance with its terms. In consideration of the foregoing and the mutual promises in this Agreement, I hereby agree with CVS to comply with the terms of this Agreement.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">2.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%;padding-left:27.75pt">Non-Competition</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">. During my employment by the Corporation and during the Non-Competition Period following the termination of my employment for any reason, I will not, directly or indirectly, engage in Competition or provide Consulting or Audit Services within the Restricted Area. I understand that unless this clause is waived by the Corporation, or I violate the terms of this Agreement during the Non-Competition Period, the Corporation will pay me, as part of its regular payroll process, ten thousand dollars ($10,000.00). The payment described herein will be made in a lump sum, less applicable withholdings, within 14 days following my termination of employment, contingent upon my compliance with Section 2(b) and subject to the other provisions of this Agreement. Notwithstanding the foregoing, this Section 2 shall not be effective (and the compensation described herein will not be paid), following my termination by the Corporation without Cause or as part of a Corporation layoff.</font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">a.&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Competition</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">. Engaging in &#8220;Competition&#8221; means providing services to a Competitor of the Corporation (whether as an employee, independent contractor, consultant, principal, agent, partner, officer, director, investor, or shareholder, except as a shareholder of less than one percent of a publicly traded company) that&#58; (i)&#160;are the same or similar in function or purpose to the services I provided to the Corporation at any time during the last year of my employment by the Corporation&#59; or (ii)&#160;will likely result in the disclosure of Confidential Information to a Competitor or the use of Confidential Information on behalf of a Competitor. </font></div><div style="text-indent:36pt"><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">b. &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Notice Concerning New Employer. </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">If a repres