Amendment to Executive Employment Agreement between Costco Wholesale Corporation and Hamilton E. James
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Summary
This letter agreement extends the employment term of Hamilton E. James with Costco Wholesale Corporation through December 31, 2022. It also amends the executive's annual base salary to $1,100,000 and sets the target bonus at $500,000, as approved by the Compensation Committee. The agreement is confirmed by signatures from both the President and CEO and the Chairman of the Board of Costco.
EX-10.2 2 costex10210q112121.htm EX-10.2 Document
Exhibit 10.2
November 22, 2021
Hamilton E. James
Chairman of the Board
Costco Wholesale Corporation
RE: Executive Employment Agreement
Dear Tony:
As provided for under section 7(b) of the Executive Employment Agreement, effective January 1, 2017, between Costco Wholesale Corporation and me, this letter will confirm an extension of the term through and including December 31, 2022. Consistent with the decisions of the Compensation Committee: section 1(a) is amended to change the Annual Base Salary to $1,100,000; and section 1(h) is amended to change the Target Bonus to $500,000. Please countersign below to indicate acceptance on behalf of the Company.
Very truly yours,
| By: /s/ W. Craig Jelinek | ||
| W. Craig Jelinek | ||
| President and CEO | ||
| Costco Wholesale Corporation | ||
| By: /s/ Hamilton James | ||
| Hamilton E. James | ||
| Chairman of the Board | ||
cc: John Stanton
