Summary of Severance Benefits for John Zavada – Petco Health and Wellness Company, Inc.
This document outlines the severance benefits for John Zavada if he is involuntarily terminated by Petco Health and Wellness Company, Inc. without cause. If this occurs, Mr. Zavada will receive a severance payment equal to twelve months of his base salary, subject to standard deductions and withholdings. This payment is contingent upon his signing, and not revoking, a severance agreement and general release of claims in a form acceptable to the company.
Exhibit 10.5
Summary of Severance Benefits for John Zavada
In the event John Zavada experiences an involuntary, not-for-cause termination, according to the definition of such term used by Petco Health and Wellness Company, Inc. (the “Company”), the Company will provide Mr. Zavada a severance payment equal to twelve (12) months of his
base salary, subject to standard deductions and withholdings, and subject to his signing (and not revoking) a severance agreement and general release of claims in a form satisfactory to the Company.
