Kohl's 2008 Annual Report Download - page 65

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3
accounts for each eligible employee: (i) a savings account to which eligible employees are permitted to make voluntary
contributions which are matched by Company as provided in the 401(k) Plan; and (ii) a retirement account to which
Company makes contributions to eligible employees. In the event Executive has an interest in Company’s 401(k) Plan,
Executive’s interest is subject to the terms and conditions of the 401(k) Plan in effect from time to time. Executive
authorizes Company to discontinue Executive’s voluntary contributions to Executive’s savings account in the 401(k) Plan,
effective as of Termination Date and Company shall make no additional matching contributions to Executive’s savings
account in the 401(k) Plan effective on or after Termination Date. Executive understands that Company shall make no
distribution from Executive’s 401(k) Plan savings account on or prior to the Termination Date. For purposes of Executive’s
401(k) Plan retirement account and matching contributions to Executive’s savings account, Company shall credit
Executive with employment service commencing on the date Executive was hired by Company and ending on the
Termination Date in accordance with the 401(k) Plan terms and conditions.
D. Deferred Compensation. In the event Executive has an interest in Company’s Deferred Compensation Plan (“Deferred
Compensation Plan”), Executive’s interest is subject to the terms of redemption contained in the Deferred Compensation
Plan.
E. Medical Insurance. Company and Executive acknowledge that following the Termination Date, Executive has the right to
elect to continue certain health insurance benefits, with premiums to be paid at Executive’s expense, as provided under the
Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”). Company shall provide Executive
with written notice explaining Executive’s COBRA rights which arise from Executive’s separation of employment with
Company.
F. Bonus. Executive shall not be entitled to any bonus pursuant to Company’s Executive Bonus Plan based on Company’s
performance in fiscal year 2008 or any subsequent year.