Petco adopts executive severance plan covering non-CEO officers

Petco Health & Wellness Company, Inc.

Plan effective Sept 29, 2022; Tier 1: Section 16 officers except CEO; Tier 2: other SVP+ employees.
Severance benefits: lump sum base salary, pro-rated annual bonus (actual performance), COBRA premium payment for 12 months.
Plan cannot be amended or terminated for 24 months after a Change in Control without participant consent.
Severance under the Plan supersedes individual agreements if a participation agreement is signed.
Payment subject to release of claims and continued compliance with confidentiality agreements.

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