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EXHIBIT 10.1
SIXTH AMENDMENT TO THE
INDEPENDENT CONTRACTOR CONSULTANCY AGREEMENT
This Sixth Amendment to the
Independent Contractor Consultancy Agreement (the “Sixth
Amendment”) is made and entered into by and between Ross
Stores, Inc. (the “Company”) and Norman A. Ferber (the
“Contractor”). For the purposes of this
agreement, the “Company” includes subsidiaries, parents
and affiliates of Ross Stores, Inc. The Company and
Contractor previously entered into an Independent Contractor
Consultancy Agreement that originally became effective February 1,
2000 and continued in effect until January 31, 2001. The
original Consultancy Agreement was extended from February 1, 2001
until January 31, 2006 through five successive Amendments to the
Consultancy Agreement (together, the “Consulting
Agreement”). It is now the intention of the Company and
the Contractor to further amend the Consulting Agreement as set
forth below. Accordingly, the Company and the Contractor now
agree as follows:
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A.
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Amendments.
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Paragraph 2.3, will be added as
follows:
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2.3
Life Insurance . Within 30 days of the execution of
this Sixth Amendment, Company will pay to Contractor the sum of
$12,840 (the “Life Insurance Premium Benefit”), which
is an amount the parties hereby agree is the sum of the estimated
annual premiums for the three-year term of this Sixth Amendment for
a policy of life insurance on the life of Contractor (the policy
will be issued for the benefit of the Norman A. Ferber and Rosine
Ferber 2001 Insurance Trust or as otherwise designated by
Contractor), with a death benefit in the amount of
$2,000,000. In addition to such sum, Company shall pay to
Contractor at the same time as its payment of the Life Insurance
Premium Benefit an amount necessary to enable Contractor to realize
the Life Insurance Premium Benefit net of any federal, state and
local income tax liability attributable to such payments by the
Company. For such purpose, Contractor shall be deemed to pay
fed
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