SEC Contract Filing

Filing Date: 2017-10-05

Document Content:
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<TYPE>EX-10.6
<SEQUENCE>7
<FILENAME>a17-20664_1ex10d6.htm
<DESCRIPTION>EX-10.6
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 10.6<a name="Exhibit10_56_061134"></a></font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">August&nbsp;11, 2017</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Private&nbsp;&amp; Confidential</font></u></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Enio Montini</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Rite Aid Corporation</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">30 Hunter Lane</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Camp Hill, PA 17011</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Re:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Retention Award Agreement</u></font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dear Tony:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Your continued services and loyalty to Rite Aid Corporation (&#147;<u>us</u>&#148; or &#147;<u>we</u>&#148; or the &#147;<u>Company</u>&#148;) are very important to us.&#160; We are therefore pleased to inform you that, pursuant to the terms of this letter agreement (the &#147;<u>Award Agreement</u>&#148;), you are eligible to receive a retention award in the form of a cash payment pursuant to the terms set forth herein (the &#147;<u>Retention Award</u>&#148;).&#160; This Retention Award is intended to incentivize you to continue to use your best efforts to ensure optimal corporate performance following the termination of the Agreement and Plan of Merger, dated as of October&nbsp;27, 2015 and as amended on January&nbsp;29, 2017, by and between the Company, Walgreens Boots Alliance,&nbsp;Inc., a Delaware corporation, and Victoria Merger Sub,&nbsp;Inc., a Delaware Corporation and a wholly-owned direct subsidiary of Walgreens.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Accordingly, in consideration of the mutual promises and covenants hereinafter set forth, it is hereby agreed as follows:</font></p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Retention Award</u>.&#160; You will be eligible to receive a Retention Award equal to $250,000 on November&nbsp;1, 2017 (the &#147;<u>Vesting Date</u>&#148;), subject to your continued employment with the Company through the Vesting Date.&#160; To the extent earned, the Retention Award will be payable, less applicable withholding taxes, as soon as practicable following the Vesting Date and, in any event, no later than ten (10)&nbsp;business days thereafter.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Termination of Employment</u>.&#160; If your employment with the Company terminates for any reason prior to the Vesting Date, you will not receive the Retention Award.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Acknowledgements</u>.&#160; By executing this Award Agreement, you hereby agree to maintain the confidentiality of this Award Agreement and to refrain from disclosing or making reference to its terms, except (i)&nbsp;as required by law, (ii)&nbsp;with your accountant or attorney for the sole purposes of obtaining, respectively, financial or legal advice, or (iii)&nbsp;with your immediate family members (the parties in clauses (ii)&nbsp;and (iii), &#147;<u>Permissible Parties</u>&#148;); <u>provided</u>, the Permissible Parties agree to keep the terms and existence of this Award Agreement confidential.</p>
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