Kohl's Corporation announced that Mr. Alves accepted his appointment as the President & Chief Operating Officer of the Company and the intent to enter into an executive compensation agreement with Mr. Alves on his first date of employment. On March 27, 2023, Mr. Alves' first date of employment, Kohl's Inc., a wholly owned subsidiary of the Company, and Mr. Alves entered into an executive compensation agreement. Under his executive compensation agreement, Mr. Alves is entitled to certain benefits upon a termination of employment and is subject to certain restrictive covenant obligations.