Advisory Role Agreement between Target Corporation and Timothy R. Baer

Contract Categories: Business Operations › Advisory Agreements
Summary

This agreement confirms that Timothy R. Baer, following his retirement, will serve in an advisory role for Target Corporation. During this period, he will continue to receive his current base salary, target bonus opportunity, and benefits. He will also remain eligible for Target’s Income Continuance Policy until certain compensation items are approved, expected in March 2017, after which his eligibility for the policy ends. The agreement outlines the terms of his transition and continued involvement with the company’s strategic initiatives.

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EX-10.OO 2 tgt-20160730xexhibit10oo.htm EXHIBIT 10.OO Exhibit


July 11, 2016

Timothy R. Baer
    

Re:    Advisory Role


Dear Tim,

Congratulations on your retirement! We are grateful you’re willing to help transition your responsibilities to your successor, and continue your involvement with key strategic initiatives.

As we’ve discussed, you will continue to receive your current base salary, target bonus opportunity and remain eligible for your current benefits while serving in an advisory role. I would also like to confirm your continued eligibility for Target’s Income Continuance Policy (“ICP”) until the Human Resources & Compensation Committee approves the payout of certain compensation items, currently scheduled for March 2017, at which point you will no longer be eligible for the ICP.

We appreciate your dedication to Target, and all you’ve accomplished during your time here. We wish you the very best in this next phase.

Sincerely,

/s/ Stephanie Lundquist

Stephanie Lundquist
Executive Vice President & Chief Human Resources Officer
Target Corporation


Agreed to by:
/s/ Timothy R. Baer
Timothy R. Baer