Ross 2012 Annual Report Download - page 55

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53
During fiscal 2012, 2011, and 2010, employees purchased approximately 211,000, 243,000, and 292,000 shares, respectively, of
the Company’s common stock under the plan at weighted average per share prices of $50.67, $34.24, and $23.74, respectively.
Through February 2, 2013, approximately 18,934,000 shares had been issued under this plan and 1,066,000 shares remained
available for future issuance.
Note I: Related Party Transactions
The Company has a consulting agreement with Norman Ferber, its Chairman of the Board of Directors, under which the Company
pays him an annual consulting fee of $1.3 million through May 2016. In addition, the agreement provides for administrative support
and health and other benefits for the individual and his dependents, which totaled approximately $0.3 million in fiscal 2012 and
$0.2 million in 2011 and 2010, along with amounts to cover premiums through May 2016 on a life insurance policy with a death
benefit of $2.0 million. On termination of Mr. Ferber’s consultancy with the Company, the Company will pay Mr. Ferber $75,000
per year for a period of 10 years.
Note J: Litigation, Claims, and Assessments
Like many California retailers, the Company has been named in class action lawsuits alleging violation of wage and hour and other
employment laws. Class action litigation remains pending as of February 2, 2013.
The Company is also party to various other legal and regulatory proceedings arising in the normal course of business. Actions
filed against the Company include commercial, product and product safety, customer, intellectual property, and labor and
employment-related claims, including lawsuits in which private plaintiffs or governmental agencies allege that the Company
violated state or federal laws. Actions against the Company are in various procedural stages. Many of these proceedings raise
factual and legal issues and are subject to uncertainties.
In the opinion of management, the resolution of pending class action litigation and other currently pending legal proceedings is
not expected to have a material adverse effect on the Company’s financial condition, results of operations, or cash flows.