Item 5.02 Departure of Directors or Certain O?cers; Election of Directors;
Appointment of Certain O?cers; Compensatory Arrangements of Certain O?cers
On January 28, 2022, The TJX Companies, Inc. (the "Company") entered into letter
agreements with Ernie Herrman, Chief Executive Officer and President, and Carol
Meyrowitz, Executive Chairman of the Board. The agreements extend the term of
the executive's respective existing employment agreement with the Company until
February 1, 2025, unless the employment agreement is terminated earlier in
accordance with its terms. The agreements also provide for a minimum annual base
salary of $1,700,000 for Mr. Herrman, a minimum target award level under the
Company's Management Incentive Plan of 200% of base salary for Mr. Herrman, and
eligibility for continued vesting of future stock awards and certain long-term
cash awards for Ms. Meyrowitz in the event that she provides additional
Board-approved services to the Company following any future retirement, and
otherwise continue the terms and conditions of the respective existing
employment agreements.
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