EXECUTIVE SEVERANCE AGREEMENTExecutive Severance Agreement • March 17th, 2009 • Sears Holdings Corp • Retail-department stores • Illinois
By this Executive Severance Agreement dated as of , 200 (“Agreement”), Sears Holdings Corporation (“Sears”) and “Sears Affiliates” (as such term is defined in Section 2 below), and [ ] (“Executive”), intending to be legally bound, and for good and valuable consideration, agree as follows:
SEARS HOLDINGS LETTERHEAD]Sears Holdings Corp • March 17th, 2009 • Retail-department stores
This Addendum constitutes an amendment to your Award Agreement reflecting the terms and conditions of the conversion of your Stock Award to a Target Cash Incentive Award (sometimes referred to as your “substituted Award”). Your Target Cash Incentive Award shall consist of a number of Units equal to the number of shares of Stock (i.e., Sears Holdings Corporation common stock) covered by the original Stock Award to which it corresponds. Each Unit has a value equal as of any date to the value of a share of Stock on that date. Your Target Cash Incentive Award constitutes a commitment by the Company to distribute an amount equal to the number of Units awarded to you multiplied by the fair market value of a share of Stock at the time of distribution, subject to satisfaction of all of the terms and conditions described in the 2007 LTIP and the Award Agreement, as amended by this Addendum. Payment of your Target Cash Incentive Award is subject to the same performance goals and criteria, vestin
EXECUTIVE EMPLOYMENT AND SEVERANCE AGREEMENTExecutive Employment and Severance Agreement • March 17th, 2009 • Sears Holdings Corp • Retail-department stores • Illinois
By this Executive Employment and Severance Agreement, dated as of February 25, 2008 (“Agreement”), Sears Holdings Corporation and its affiliates and subsidiaries (“Sears”) and Kevin Holt (“Executive”) (collective referred to as the “Parties”) intending to be legally bound, and for good and valuable consideration, agree as follows:
