UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 8.01Other Events.
Kohl’s Corporation (the “Company”) previously announced that Paul Gaffney had accepted an offer to serve as the Senior Executive Vice President, Chief Technology Officer of the Company beginning September 16, 2019. In consideration for his employment with the Company, Mr. Gaffney will receive, among other things, the following:
an annualized base salary of $800,000;
an initial payment of $750,000 to partially offset obligations incurred as a result of his resignation from his current employment and relocation expenses that are not covered by the Company’s relocation policy, all subject to repayment if Mr. Gaffney voluntarily ends his employment with the Company or is terminated for cause within the first twenty-four (24) months of his hire date;
awards of restricted stock and performance share units as described in his offer letter; and
eligibility to participate in the annual incentive plan as described in his offer letter, health plans and other benefit plans and perquisites as the Company may establish for its senior executives from time to time.
Mr. Gaffney entered into an Executive Compensation Agreement, the form of which is attached to this filing and incorporated herein by reference, effective as of his September 16, 2019 start date.
The foregoing descriptions of the offer letter and form of Executive Compensation Agreement do not purport to be complete and are qualified in their entirety by reference to such documents, copies of which are attached to this filing and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
Exhibit No. |
| Description |
10.1 |
| Offer letter accepted and agreed to effective August 28, 2019 by and between Paul Gaffney and Kohl’s Department Stores, Inc. |
10.2 |
| 2019 Form of Executive Compensation Agreement |
104 |
| Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: September 20, 2019 | KOHL'S CORPORATION |
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| By: |
| /s/ Jason J. Kelroy |
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| Jason J. Kelroy |
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| Executive Vice President, |
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| General Counsel and Secretary |
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