SEC Contract Filing

Filing Date: 2015-11-20

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>exh102.htm
<DESCRIPTION>EMPLOYMENT AGREEMENT
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
<HTML>
<HEAD>
<META NAME="date" CONTENT="11/18/2015">
</HEAD>
<BODY style="margin-top:0;font-family:'Times New Roman'; font-size:10pt; color:#000000">
<DIV style="width:648px"><P style="margin:0px; font-size:12pt"><B>EXHIBIT 10.2</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:12pt" align=center><B>EMPLOYMENT AGREEMENT</B></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin-top:0px; margin-bottom:16px; padding-right:6px; text-indent:48px; font-size:12pt">THIS EMPLOYMENT AGREEMENT (&#147;Agreement&#148;) is executed as of this 16th day of November, 2015, by and between Kohl&#146;s Department Stores, Inc. and Kohl&#146;s Corporation (collectively referred to in this Agreement as &#147;Company&#148;) and Sona Chawla (&#147;Executive&#148;). &nbsp;</P>
<P style="margin-top:0px; margin-bottom:16px; text-indent:48px; font-size:12pt">The Company desires to employ Executive, and Executive desires to be employed by the Company, on the terms and conditions set forth herein.</P>
<P style="margin-top:0px; margin-bottom:16px; text-indent:48px; font-size:12pt">The parties believe it is in their best interests to make provision for certain aspects of their relationship during and after the period in which Executive is employed by the Company.</P>
<P style="margin:0px; text-indent:48px; font-size:12pt">NOW, THEREFORE, in consideration of the premises and the mutual agreements and covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by the Company and Executive (the &#147;Parties&#148;), the Parties agree as follows:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:12pt" align=center><B>ARTICLE I</B></P>
<P style="margin-top:0px; margin-bottom:16px; font-size:12pt" align=center><B>EMPLOYMENT</B></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:96px; font-size:12pt; float:left">1.1</P>
<P style="margin-top:0px; margin-bottom:16px; padding-right:-12px; text-indent:-2px; font-size:12pt"><U>Term of Employment</U>.&nbsp;&nbsp;The Company employs Executive, and Executive accepts employment by the Company, for the three (3) year period commencing on November 30, 2015 (the &#147;Initial Term&#148;), subject to earlier termination as hereinafter set forth in Article&nbsp;III, below. &nbsp;This Agreement shall be automatically extended for one (1) day each day during the term (the Initial Term as so extended, the &#147;Renewal Term&#148;)&nbsp;unless the Company shall give the Executive written notice of intention not to&nbsp;renew, in which case this Agreement shall terminate as of the end of the Initial Term or said Renewal Term, as applicable or unless this Agreement is earlier terminated as set forth in Article III, below. &nbsp;If&nbsp;this Agreement is extended, the terms of this Agreement during such Renewal Term shall be the same as the terms in effect immediately prior to such extension (including the early termination provisions set forth in Article III, below), subject to any such changes or&nbsp;modifications as mutually may be agreed between the Parties as&nbsp;evidenced in a written instrument signed by both the Company and&nbsp;Executive. &nbsp;If Executive&#146;s employment is terminated for any reason specified in Section 3.1, below, after Company has provided a notice of non-renewal under this Section 1.1, such termination will be treated as a termination under the applicable provision of Section 3.1 and not as a termination due to non-renewal under this Section 1.1. &nbsp;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:96px; font-size:12pt; clear:left; float:left">1.2</P>
<P style="margin-top:0px; margin-bottom:16px; text-indent:-2px; font-size:12pt"><U>Position and Duties</U>. &nbsp;Executive shall be employed in the position of Chief Operating Officer, and&nbsp;shall&nbsp;be subject to the&nbsp;authority of, and shall report to, the Company&#146;s Chief Executive Officer and/or<B> </B>Board of Directors (the &#147;Board&#148;). &nbsp;Executive&#146;s duties and responsibilities shall include all those customarily attendant to the position of Chief Operating Officer and such other duties and responsibilities as may be assigned from time to time by Executive&#146;s supervisor and/or the Company&#146;s Board. &nbsp;Executive shall devote Executive&#146;s entire business time, attention and energies exclusively to the business interests of the&nbsp;Company while employed by the Company except as otherwise specifically approved in&nbsp;writing by Executive&#146;s supervisor and/or the Company&#146;s Board. &nbsp;During the Initial Term </P>
<P style="margin-top:0px; margin-bottom:16px; clear:left"><BR>
<BR></P>
<P style="margin:0px" align=center>1</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:16px; font-size:12pt; page-break-before:always">and the Renewal Term, Executive may not participate on the board of directors or any similar governing body of any for-profit entity other than the Company, unless first approved by the Company&#146;s Board. &nbsp;</P>
<P style="margin:0px; font-size:12pt" align=center><B>ARTICLE II</B></P>
<P style="margin-top:0px; margin-bottom:16px; font-size:12pt" align=center><B>COMPENSATION AND OTHER BENEFITS</B></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:96px; font-size:12pt; float:left">2.1</P>
<P style="margin-top:0px; margin-bottom:16px; text-indent:-2px; font-size:12pt"><U>Base Salary</U>.&nbsp;&nbsp;During the Initial Term and the Renewal Term, the Company shall pay&nbsp;Executive an&nbsp;annual base salary as described in Exhibit A (a copy of which is attached hereto and incorporated herein), payable in&nbsp;accordance with the normal payroll practic