SEC Contract Filing

Filing Date: 2017-06-07

Document Content:
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>exhibit104fourthamendmentt.htm
<DESCRIPTION>EXHIBIT 10.4
<TEXT>
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<div><a name="s6FE2A8C942060A0E426FF4BC73E36AF4"></a></div><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">EXHIBIT 10.4</font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">FOURTH AMENDMENT TO THE EMPLOYMENT AGREEMENT</font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">THE FOURTH AMENDMENT TO THE EMPLOYMENT AGREEMENT (the &#8220;Amendment&#8221;) is made, effective as of April 15, 2017, by Ross Stores, Inc. (the &#8220;Company&#8221;) and Michael Balmuth (the &#8220;Executive&#8221;). The Executive and the Company previously entered into an Employment Agreement, effective June 1, 2012 (attached hereto) and amended effective March 15, 2015, January 1, 2016 and May 18, 2016, and it is now the intention of the Executive and the Company to amend the Employment Agreement as set forth below. Accordingly, the Company and the Executive hereby agree as follows:</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:Arial;font-size:11pt;">1.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">Paragraph 2 of the Employment Agreement is hereby amended by replacing &#8220;May 31, 2018&#8221; with &#8220;May 31, 2019&#8221;.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:Arial;font-size:11pt;">2.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">The first sentence in paragraph 4(a) of the Employment Agreement is hereby deleted and the following sentence is added in place thereof: &#8220;During his employment, the Company shall pay the Executive a base salary of not less than One Million One Hundred Forty-five Thousand Dollars ($1,145,000) per annum through May 31, 2019.&#8221;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:Arial;font-size:11pt;">3.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">Paragraph 4(c) of the Employment Agreement is hereby amended by deleting &#8220;85&#8221; and inserting &#8220;130&#8221; in place thereof. </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:Arial;font-size:11pt;">4.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">Paragraph 4(g) of the Employment Agreement is hereby amended by deleting &#8220;24&#8221; each time it occurs in such paragraph 4(g) and inserting &#8221;36&#8221; in place thereof.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:Arial;font-size:11pt;">5.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">Paragraph 4(q) of the Employment Agreement is hereby amended by: (i) renaming such paragraph &#8220;</font><font style="font-family:Arial;font-size:11pt;text-decoration:underline;">Performance Share Awards: 2015 - 2016</font><font style="font-family:Arial;font-size:11pt;">&#8221;; (ii) deleting the phrase &#8220;2016, 2017, 2018 and 2019&#8221; and inserting &#8220;2016 and 2017&#8221; in place thereof; and (iii) deleting the 4</font><font style="font-family:Arial;font-size:11pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">th</sup></font><font style="font-family:Arial;font-size:11pt;">&#32;sentence thereof and inserting the following sentence in place thereof.</font><font style="font-family:inherit;font-size:10pt;">&#32;<br></font><font style="font-family:Arial;font-size:11pt;">&#32;<br>&#8220;Notwithstanding any other provision of this Agreement or the PS Do