EX-10.1
from 10-Q
13 pages
Purpose. the Purpose of the Petco Health and Wellness Company, Inc. Amended and Restated Executive Severance Plan (The “Plan”) Is to Provide Severance Benefits to Certain Employees of Petco Health and Wellness Company, Inc. and Its Affiliates (As Defined Below) in the Event of a Qualifying Termination (As Defined Below). the Plan Is Maintained for the Purpose of Providing Benefits for a Select Group of Management or Highly Compensated Employees. 2. Term. the Plan Was Originally Effective as of September 29, 2022 and Was Amended and Restated Effective as of June 4, 2025 (The “Restatement Effective Date”). the Plan Will Remain in Effect Until Terminated Pursuant to Section 9. 3. Definitions. (A) “Affiliate” Means Any Entity in Which the Company Has a Substantial Direct or Indirect Equity Interest. (B) “Base Salary” Means the Annual Base Salary in Effect for the Participant Immediately Before the Participant’s Termination of Employment (Without Giving Effect to Any Reduction That Constitutes Good Reason), Excluding Overtime, Bonuses, Incentive Compensation or Any Other Special Payments. (C) “Board” Means the Board of Directors of the Company
12/34/56
