CVS Caremark Corporation (CVS)

GENERAL RELEASE AND COVENANT NOT TO SUE

As a condition of receiving the post-termination compensation, benefits and other consideration set forth in the Amended and Restated Employment Agreement between David Rickard (“Executive”) and CVS Caremark Corporation (“CVS Caremark”) dated as of December 22, 2008 (the “Employment Agreement”) and the Early Retirement Agreement between Executive and CVS Caremark dated as of November 4, 2009 (the “Early Retirement Agreement”), Executive hereby agrees to the terms of this General Release and Covenant Not to Sue (“Release”).

1. GENERAL RELEASE OF CLAIMS. Executive hereby releases and forever discharges CVS Caremark Corporation and each of its divisions, affiliates, subsidiaries and operating companies, and the respective officers, directors, employees, agents and affiliates of each of them (collectively, the “Released Parties”) from any and all causes of action, lawsuits, proceedings, complaints, charges, debts, contracts, judgments, damages, and claims against the Released Parties, whether known or unknown, which Executive ever had, now has or which Executive or Executive’s heirs, executors, administrators, successors or assigns may have prior to the date this Release is signed by Executive, due to any matter whatsoever relating to Executive’s employment, compensation, benefits, and/or termination of Executive’s employment with CVS (collectively, the “Released Claims). The Released Claims include, but are not limited to, any claim that any of the Released Parties violated the National Labor Relations Act, Title VII of the Civil Rights Act of 1964, Sections 1981 through 1988 of Title 42 of the United States Code, the Employee Retirement Income Security Act, the Immigration Reform and Control Act, the Americans with Disabilities Act, the Age Discrimination in Employment Act, the Family Medical Leave Act, and/or the Occupational Safety and Health Act; any claim that any of the Released Parties violated any other federal, state or local statute, law, regulation or ordinance; any claim of unlawful discrimination of any kind; any public policy, contract, tort, or common law claim; and any claim for costs, fees, or other expenses including attorney’s fees incurred in these matters. Notwithstanding the foregoing, this Release does not include any rights that Executive cannot lawfully waive, and will not release any rights Executive has (a) to defense and indemnification from CVS or its insurers, (b) to any claim for any tort for personal injury not arising out of or related to his termination of employment; (c) to claims, actions, or rights arising under or to enforce the terms of the Employment Agreement or the Early Retirement Agreement; and/or (d) under any of the Company’s incentive compensation and employee benefit plans and programs to which Executive is entitled pursuant to the Employment Agreement and the Early Retirement Agreement.

2. COVENANT NOT TO SUE. Executive agrees not to file or initiate a lawsuit in any court or initiate an arbitration proceeding asserting any of the Released Claims against any of the Released Parties. Executive further agrees that he will not permit himself to be a member of any class in any court or in any arbitration proceeding seeking relief against the Released Parties based on claims released by this Release, and that even if a court or arbitrator rules that he may not waive a claim released by this Release, he will not accept any money damages or other relief in connection with any other action or proceeding asserting any of the Released Claims against any of the Released Parties. Executive agrees to reimburse CVS for any legal fees that CVS incurs as a result of any knowing breach of this paragraph by Executive.

3. NO PENDING ACTIONS; NO FAIR LABOR STANDARDS ACT CLAIMS. Executive represents that as of the date he signs this Release, Executive has not filed or initiated, or caused to be filed or initiated, any complaint, claim, action or lawsuit of any kind against any of the Released Parties in any federal, state or local court or agency. Executive represents that he is not aware of any facts that would support a claim by him against any of the Released Parties for any violation of the Fair Labor Standards Act.

4. WAIVER OF DAMAGES. Nothing in this Release is intended to or shall interfere with Executive’s right to participate in a proceeding with any appropriate federal, state or local government agency enforcing federal, state or local discrimination laws and/or cooperating with said agency in its investigation. Executive shall not, however, be entitled to receive any relief, recovery or monies in connection with any complaint or charge brought against any of the Released Parties with respect to any Released Claims, without regard as to who brought any such complaint or charge.

5. TIME TO CONSIDER AND REVOKE; ADVICE OF COUNSEL. Executive acknowledges that he has been afforded at least twenty-one (21) days to consider whether to sign this Release. If Executive elects not to take the twenty-one (21) days to consider this Release, Executive acknowledges having done so voluntarily and with the understanding that Executive is waiving a statutory right to do so. If Executive chooses to execute this Release, Executive has the right to revoke the acceptance at any time within seven (7) days of signing (the “Revocation Period”) by delivering a written revocation to CVS Caremark Corporation, Attention: V. Michael Ferdinandi, One CVS Drive, Woonsocket, RI 02895. Any such revocation shall state, “I hereby revoke my General Release and Covenant Not to Sue” and must be signed by Executive and received by the Company before the end of the Revocation Period. If Executive decides to revoke this Release, the revocation shall make this Release null and void and shall be deemed effective on the date received by the Company. Executive acknowledges that in the absence of a valid effective Release, Executive is not entitled to the post-employment payments and benefits set forth in Section 10 of the Employment Agreement. CVS hereby advises Executive to consult with an attorney before executing this Release.

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