SEC Contract Filing

Filing Date: 2023-09-01

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>wmtexhibit101fy24q2.htm
<DESCRIPTION>EX-10.1
<TEXT>
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<title>Document</title></head><body><div id="i1c4f5359cb044d6b8beb14371901f44c_1"></div><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div></div><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%">Exhibit 10.1</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%;text-decoration:underline">RETIREMENT AGREEMENT</font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">This Retirement Agreement (this &#8220;Agreement&#8221;) is made and entered into on August 16, 2023, between Judith McKenna (the &#8220;Associate&#8221;) and Walmart Inc., a Delaware corporation, and its affiliates and subsidiaries (collectively &#8220;Walmart&#8221;) (each a &#8220;Party&#8221; and together the &#8220;Parties&#8221;).</font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%;text-decoration:underline">RECITALS</font></div><div><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%">WHEREAS,</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> on August 14, 2023, the Associate notified Walmart of her intent to retire as Executive Vice President, President and Chief Executive Officer, Walmart International effective as of September 11, 2023, and to retire from employment with Walmart effective as of January 31, 2024&#59; and</font></div><div><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%">WHEREAS</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">, Walmart desires to continue to employ the Associate as an Executive Vice President on the terms described herein through January 31, 2024&#59; and</font></div><div><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%">WHEREAS</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">, the Associate wishes to continue such employment with Walmart through January 31, 2024 on such terms, provisions, and conditions set forth in this Agreement.</font></div><div><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%;text-decoration:underline">AGREEMENT</font></div><div><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%">NOW, THEREFORE</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">, for good and sufficient consideration, the sufficiency of which the parties acknowledge, the parties agree as follows&#58;</font></div><div><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%">1.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%;padding-left:10.5pt">Employment. </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The Associate shall remain employed by Walmart on a full-time basis in her current role as Executive Vice President, President and Chief Executive Officer, Walmart International until September 11, 2023 (the &#8220;Transition Date&#8221;), Beginning on the Transition Date and continuing through and including January 31, 2024 (the &#8220;Transitional Period&#8221;), the Associate shall remain employed by Walmart as an Executive Vice President in a transitional role, continuing to report to Walmart&#8217;s President and Chief Executive Officer. The parties acknowledge that the Associate&#8217;s employment with Walmart will terminate on the close of business on January 31, 2024 (the &#8220;Retirement Date&#8221;). During the Transitional Period, the Associate shall&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">a)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:10.24pt">Support and assist the transition of the newly appointed Executive Vice President, President and Chief Executive Officer, Walmart International&#59;</font></div><div style="padding-left:36pt;text-align:justify"><font><br></font></div><div style="padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times