Performance Shares: The performance share program provides an award of contingent shares with each year’s grant. Contingent shares are earned and settled in shares of WBA stock at the end of a three-year performance period, and the final award is based on the performance of the Company over that three-year period. Performance shares currently make up 70% of your total target award value described above.
The annual and long-term incentives described above, including program components and target award levels, are subject to adjustments over time, as we continually review our program features to align with market practices and other total rewards objectives.
Other Employee Benefits. See the attached “Overview of Management Benefits,” briefly describing the employee benefits that are applicable.
Relocation. You will be eligible for relocation benefits in accordance with Company policy for management employees.
Non-Compete. As a condition to this offer of employment, and in consideration of your employment with the Company and certain compensation and benefits provided hereunder, you will be required to sign aNon-Competition,Non-Solicitation and Confidentiality Agreement when you begin employment. This is a standard agreement, with certain terms tailored to your area and position. A copy of this Agreement can be provided in advance upon request. A similar agreement may also be included as part of stock option award agreements.
Other Compensation.To assist with your transition to the new role, you will receive the followingsign-on incentive:
| | • | | You will receive aone-timesign-on bonus of $15,000. This will be paid as soon as practicable following your first day of employment and will be subject to normal tax withholdings. |
Your start date is to be determined. On your start date, please bring proof of your identity and eligibility for employment, a list of acceptable documents is enclosed.
Our offer of employment will remain open for seven days from the date of this letter, and is contingent on your passing apre-employment applicant background check and apre-employment drug screen under our Drug Free Work Place Policy. It is our policy that thepre-employment drug screen test be completed within 48 hours of receiving this offer packet. You can find your nearest drug testing location by calling1-800-877-7484 or atquestdiagnostics.com. Enclosed are the “Forensic Drug Testing Custody and Control Form” and the “Drug Test Consent/Release Form”. Please complete and return the consent/release form with the offer letter. Please bring the Forensic Drug Testing Custody and Control Form with you to the drug test facility along with a valid photo I.D. accepted by the state.
