SEC Contract Filing

Filing Date: 2015-06-10

Document Content:
<DOCUMENT>
<TYPE>EX-10.7
<SEQUENCE>8
<FILENAME>exhibit107executiveemploym.htm
<DESCRIPTION>EXHIBIT 10.7 EXECUTIVE EMPLOYMENT AGREEMENT - MH
<TEXT>
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<a name="sc2d5db4572ef4d82b0d55b742fb6a154"></a><div><div style="line-height:120%;padding-bottom:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">EXHIBIT 10.7</font></div></div><br><div style="line-height:120%;padding-bottom:0px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">EXECUTIVE EMPLOYMENT AGREEMENT</font></div><div style="line-height:120%;padding-bottom:0px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">THIS EXECUTIVE EMPLOYMENT AGREEMENT</font><font style="font-family:inherit;font-size:12pt;">&#32;(this &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;) is made effective March 16, 2015 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Effective Date</font><font style="font-family:inherit;font-size:12pt;">&#8221;) by and between Ross Stores, Inc., a Delaware corporation, and Michael Hartshorn (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Executive</font><font style="font-family:inherit;font-size:12pt;">&#8221;). References herein to the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Company</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean Ross Stores, Inc. and, where appropriate, Ross Stores, Inc. and each and any of its divisions, affiliates or subsidiaries. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">RECITALS</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:12px;text-align:justify;text-indent:48px;"><font style="padding-bottom:12px;text-align:justify;font-family:inherit;font-size:12pt;padding-right:48px;">A.</font><font style="font-family:inherit;font-size:12pt;">The Company wishes to employ the Executive, and the Executive is willing to accept such employment, as Group Senior Vice President, Chief Financial Officer.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:12px;text-align:justify;text-indent:48px;"><font style="padding-bottom:12px;text-align:justify;font-family:inherit;font-size:12pt;padding-right:48px;">B.</font><font style="font-family:inherit;font-size:12pt;">It is now the mutual desire of the Company and the Executive to enter into a written employment agreement to govern the terms of the Executive&#8217;s employment by the Company as of and following the Effective Date on the terms and conditions set forth below.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">TERMS AND CONDITIONS</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">In consideration for the promises of the parties set forth below, the Company and the Executive hereby agree as follows:</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:12px;text-align:justify;text-indent:48px;"><font style="padding-bottom:12px;text-align:justify;font-family:inherit;font-size:12pt;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Term.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Subject to the provisions of Section 6 of this Agreement, the term of employment of the Executive by the Company under this Agreement (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Term of Employment</font><font style="font-family:inherit;font-size:12pt;">&#8221;) shall be as follows: </font></div><div style="line-height:120%;padding-left:0px;padding-bottom:12px;text-align:justify;text-indent:96px;"><font style="padding-bottom:12px;text-align:justify;font-family:inherit;font-size:12pt;padding-right:48px;">(a)</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Initial Term.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;The initial Term of Employment of the Executive by the Company under this Agreement shall begin on the Effective Date and end on March 31, 2019 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Initial Term</font><font style="font-family:inherit;font-size:12pt;">&#8221;), unless extended or terminated earlier in accordance with this Agreement. </font></div><div style="line-height:120%;padding-left:0px;padding-bottom:12px;text-align:justify;text-indent:96px;"><font style="padding-bottom:12px;text-align:justify;font-family:inherit;font-size:12pt;padding-right:48px;">(b)</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Renewal Term.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Subject to the provisions