Target 2009 Annual Report Download - page 30

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Item 3. Legal Proceedings
SEC Rule S-K Item 103 requires that companies disclose environmental legal proceedings involving a
governmental authority when such proceedings involve potential monetary sanctions of $100,000 or more.
We are one of many defendants in a lawsuit filed on February 13, 2008, by the State of California involving
environmental matters that may involve potential monetary sanctions in excess of $100,000. The allegation,
initially made by the California Air Resources Board in April 2006, involves a nonfood product (hairspray) that
allegedly contained levels of a volatile organic compound in excess of permissible levels. We anticipate that
the settlement, to be fully indemnified by the vendor, is likely to exceed $100,000 but will not be material to our
financial position, results of operations or cash flows. In addition, we are a defendant in a civil lawsuit filed by
the California Attorney General in June 2009 alleging that we did not handle and dispose of certain unsold
products as a hazardous waste. The case is in its early stages. We anticipate that this lawsuit may involve
potential monetary sanctions in excess of $100,000, but will not be material to our financial position, results of
operations or cash flows.
We are the subject of an ongoing Environmental Protection Agency (EPA) investigation for alleged
violations of the Clean Air Act (CAA). In March 2009, the EPA issued a Finding of Violation (FOV) related to
alleged violations of the CAA, specifically the National Emission Standards for Hazardous Air Pollutants
(NESHAP) promulgated by the EPA for asbestos. The FOV pertains to the remodeling of 36 Target stores that
occurred between January 1, 2003 and October 28, 2007. The EPA FOV process is ongoing and no specific
relief has been sought to date by the EPA. We anticipate that any resolution of this matter will be in the form of
monetary penalties that are likely to exceed $100,000 but will not be material to our financial position, results
of operations or cash flows.
The American Jobs Creation Act of 2004 requires SEC registrants to disclose if they have been required
to pay certain penalties for failing to disclose to the Internal Revenue Service their participation in listed
transactions. We have not been required to pay any of the penalties set forth in Section 6707A(e)(2) of the
Internal Revenue Code.
For a description of other legal proceedings, see Note 18 of the Notes to Consolidated Financial
Statements included in Item 8, Financial Statements and Supplementary Data.
Item 4. Reserved
Item 4A. Executive Officers
The executive officers of Target as of March 10, 2010 and their positions and ages are as follows:
Name Title Age
Timothy R. Baer Executive Vice President, General Counsel and Corporate Secretary 49
Michael R. Francis Executive Vice President and Chief Marketing Officer 47
John D. Griffith Executive Vice President, Property Development 48
Beth M. Jacob Executive Vice President, Technology Services and Chief Information
Officer 48
Jodeen A. Kozlak Executive Vice President, Human Resources 46
Troy H. Risch Executive Vice President, Stores 42
Douglas A. Scovanner Executive Vice President and Chief Financial Officer 54
Terrence J. Scully President, Target Financial Services 57
Gregg W. Steinhafel Chairman of the Board, President and Chief Executive Officer 55
Kathryn A. Tesija Executive Vice President, Merchandising 47
Each officer is elected by and serves at the pleasure of the Board of Directors. There is neither a family
relationship between any of the officers named and any other executive officer or member of the Board of
Directors nor any arrangement or understanding pursuant to which any person was selected as an officer. The
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PART I