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Target Corp – ‘10-K’ for 1/28/17 – ‘EX-10.CC’

On:  Wednesday, 3/8/17, at 4:22pm ET   ·   For:  1/28/17   ·   Accession #:  27419-17-8   ·   File #:  1-06049

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  As Of               Filer                 Filing    For·On·As Docs:Size

 3/08/17  Target Corp                       10-K        1/28/17  147:13M

Annual Report   —   Form 10-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML    927K 
 2: EX-10.CC    Material Contract                                   HTML     48K 
 3: EX-10.I     Material Contract                                   HTML    285K 
 4: EX-10.S     Material Contract                                   HTML     68K 
 5: EX-10.U     Material Contract                                   HTML     69K 
 7: EX-21       Subsidiaries List                                   HTML     36K 
 8: EX-23       Consent of Experts or Counsel                       HTML     39K 
 9: EX-24       Power of Attorney                                   HTML     91K 
 6: EX-12       Statement re: Computation of Ratios                 HTML     48K 
10: EX-31.A     Certification -- §302 - SOA'02                      HTML     43K 
11: EX-31.B     Certification -- §302 - SOA'02                      HTML     43K 
12: EX-32.A     Certification -- §906 - SOA'02                      HTML     38K 
13: EX-32.B     Certification -- §906 - SOA'02                      HTML     38K 
20: R1          Document and Entity Information                     HTML     65K 
21: R2          Consolidated Statements of Operations               HTML    113K 
22: R3          Consolidated Statements of Comprehensive Income     HTML     54K 
23: R4          Consolidated Statements of Comprehensive Income     HTML     43K 
                (Parenthetical)                                                  
24: R5          Consolidated Statements of Financial Position       HTML    134K 
25: R6          Consolidated Statements of Financial Position       HTML     58K 
                (Parenthetical)                                                  
26: R7          Consolidated Statements of Cash Flows               HTML    148K 
27: R8          Consolidated Statements of Cash Flows               HTML     40K 
                (Parenthetical)                                                  
28: R9          Consolidated Statements of Shareholders'            HTML     87K 
                Investment                                                       
29: R10         Summary of Accounting Policies                      HTML     46K 
30: R11         Revenues                                            HTML     43K 
31: R12         Cost of Sales and Selling, General and              HTML     44K 
                Administrative Expenses                                          
32: R13         Consideration Received from Vendors                 HTML     40K 
33: R14         Advertising Costs                                   HTML     47K 
34: R15         Pharmacies Transaction                              HTML    102K 
35: R16         Canada Exit                                         HTML    102K 
36: R17         Restructuring Initiatives                           HTML     40K 
37: R18         Credit Card Profit Sharing                          HTML     39K 
38: R19         Fair Value Measurements                             HTML     79K 
39: R20         Cash Equivalents                                    HTML     42K 
40: R21         Inventory                                           HTML     42K 
41: R22         Other Current Assets                                HTML     47K 
42: R23         Property and Equipment                              HTML     55K 
43: R24         Other Noncurrent Assets                             HTML     48K 
44: R25         Goodwill and Intangible Assets                      HTML     74K 
45: R26         Accounts Payable                                    HTML     39K 
46: R27         Accrued and Other Current Liabilities               HTML     54K 
47: R28         Commitments and Contingencies                       HTML     49K 
48: R29         Notes Payable and Long-Term Debt                    HTML     77K 
49: R30         Derivative Financial Instruments                    HTML     80K 
50: R31         Leases                                              HTML     83K 
51: R32         Income Taxes                                        HTML    111K 
52: R33         Other Noncurrent Liabilities                        HTML     51K 
53: R34         Share Repurchase                                    HTML     46K 
54: R35         Share-Based Compensation                            HTML    110K 
55: R36         Defined Contribution Plans                          HTML     56K 
56: R37         Pension and Postretirement Health Care Plans        HTML    194K 
57: R38         Accumulated Other Comprehensive Income              HTML     61K 
58: R39         Segment Reporting                                   HTML     88K 
59: R40         Quarterly Results (Unaudited)                       HTML    243K 
60: R41         Summary of Accounting Policies (Policies)           HTML    149K 
61: R42         Advertising Costs (Tables)                          HTML     47K 
62: R43         Pharmacies Transaction (Tables)                     HTML     71K 
63: R44         Canada Exit (Tables)                                HTML     98K 
64: R45         Fair Value Measurements (Tables)                    HTML     78K 
65: R46         Other Current Assets (Tables)                       HTML     47K 
66: R47         Property and Equipment (Tables)                     HTML     54K 
67: R48         Other Noncurrent Assets (Tables)                    HTML     48K 
68: R49         Goodwill and Intangible Assets (Tables)             HTML     69K 
69: R50         Accrued and Other Current Liabilities (Tables)      HTML     54K 
70: R51         Notes Payable and Long-Term Debt (Tables)           HTML     79K 
71: R52         Derivative Financial Instruments (Tables)           HTML     76K 
72: R53         Leases (Tables)                                     HTML     76K 
73: R54         Income Taxes (Tables)                               HTML    109K 
74: R55         Other Noncurrent Liabilities (Tables)               HTML     50K 
75: R56         Share Repurchase (Tables)                           HTML     47K 
76: R57         Share-Based Compensation (Tables)                   HTML    109K 
77: R58         Defined Contribution Plans (Tables)                 HTML     52K 
78: R59         Pension and Postretirement Health Care Plans        HTML    199K 
                (Tables)                                                         
79: R60         Accumulated Other Comprehensive Income (Tables)     HTML     58K 
80: R61         Segment Reporting (Tables)                          HTML     84K 
81: R62         Quarterly Results (Unaudited) (Tables)              HTML    244K 
82: R63         Summary of Accounting Policies (Details)            HTML     42K 
83: R64         Revenues (Details)                                  HTML     48K 
84: R65         Advertising Costs (Details)                         HTML     43K 
85: R66         Pharmacies Transaction - Narrative (Details)        HTML     51K 
86: R67         Pharmacies Transaction - Schedule of Gain on        HTML     66K 
                Pharmacies and Clinics Transaction (Details)                     
87: R68         Canada Exit - Narrative (Details)                   HTML     55K 
88: R69         Canada Exit - Schedule of Income/(Loss) on          HTML     75K 
                Discontinued Operations (Details)                                
89: R70         Canada Exit - Schedule of Pretax Exit Costs         HTML     48K 
                (Details)                                                        
90: R71         Canada Exit - Schedule of Assets and Liabilities    HTML     54K 
                of Discontinued Operations (Details)                             
91: R72         Restructuring Initiatives - Narrative (Details)     HTML     43K 
92: R73         Credit Card Profit Sharing (Details)                HTML     39K 
93: R74         Fair Value Measurements - Schedule of Fair Value    HTML     66K 
                Measurements - Recurring Basis (Details)                         
94: R75         Fair Value Measurements - Schedule of Significant   HTML     43K 
                Financial Instruments not Measured at Fair Value                 
                (Details)                                                        
95: R76         Cash Equivalents (Details)                          HTML     44K 
96: R77         Inventory (Details)                                 HTML     39K 
97: R78         Other Current Assets (Details)                      HTML     47K 
98: R79         Property and Equipment (Details)                    HTML     62K 
99: R80         Other Noncurrent Assets (Details)                   HTML     47K 
100: R81         Goodwill and Intangible Assets - Narrative          HTML     50K  
                (Details)                                                        
101: R82         Goodwill and Intangible Assets - Schedule of        HTML     65K  
                Intangible Assets (Details)                                      
102: R83         Goodwill and Intangible Assets - Schedule of        HTML     48K  
                Estimated Amortization Expense (Details)                         
103: R84         Accounts Payable (Details)                          HTML     40K  
104: R85         Accrued and Other Current Liabilities (Details)     HTML     63K  
105: R86         Commitments and Contingencies - Narrative           HTML     65K  
                (Details)                                                        
106: R87         Notes Payable and Long-Term Debt - Narrative        HTML     73K  
                (Details)                                                        
107: R88         Notes Payable and Long-Term Debt - Schedule of      HTML     66K  
                Carrying Value and Maturities of Debt Portfolio                  
                (Details)                                                        
108: R89         Notes Payable and Long-Term Debt - Schedule of      HTML     50K  
                Required Principal Payments (Details)                            
109: R90         Notes Payable and Long-Term Debt - Schedule of      HTML     47K  
                Commercial Paper (Details)                                       
110: R91         Derivative Financial Instruments - Narrative        HTML     43K  
                (Details)                                                        
111: R92         Derivative Financial Instruments - Schedule of      HTML     53K  
                Outstanding Interest Rate Swap Summary (Details)                 
112: R93         Derivative Financial Instruments - Schedule of      HTML     55K  
                Classification and Fair Value (Details)                          
113: R94         Derivative Financial Instruments - Schedule of      HTML     41K  
                Derivative Contracts - Effect on Results of                      
                Operations (Details)                                             
114: R95         Leases - Narrative (Details)                        HTML     53K  
115: R96         Leases - Schedule of Rent Expense (Details)         HTML     43K  
116: R97         Leases - Schedule of Future Minimum Lease Payments  HTML    117K  
                (Details)                                                        
117: R98         Income Taxes - Narrative (Details)                  HTML     66K  
118: R99         Income Taxes - Schedule of Tax Rate Reconciliation  HTML     58K  
                - Continuing Operations (Details)                                
119: R100        Income Taxes - Schedule of Provision for Income     HTML     72K  
                Taxes (Details)                                                  
120: R101        Income Taxes - Schedule of Net Deferred Tax         HTML     71K  
                Asset/(Liability) (Details)                                      
121: R102        Income Taxes - Schedule of Reconciliation of        HTML     50K  
                Liability for Unrecognized Tax Benefits (Details)                
122: R103        Other Noncurrent Liabilities (Details)              HTML     57K  
123: R104        Share Repurchase - Schedule of Share Repurchases    HTML     44K  
                (Details)                                                        
124: R105        Share-Based Compensation - Narrative (Details)      HTML     93K  
125: R106        Share-Based Compensation - Schedule of Restricted   HTML     73K  
                Stock Activity and Performance Share Unit Activity               
                (Details)                                                        
126: R107        Share-Based Compensation - Schedule of Stock        HTML     71K  
                Option Activity (Details)                                        
127: R108        Share-Based Compensation - Schedule of Stock        HTML     44K  
                Option Exercises (Details)                                       
128: R109        Defined Contribution Plans (Details)                HTML     63K  
129: R110        Pension and Postretirement Health Care Plans -      HTML     52K  
                Schedule of Recognition of Funded/(Underfunded)                  
                Status (Details)                                                 
130: R111        Pension and Postretirement Health Care Plans -      HTML     52K  
                Schedule of Estimated Future Benefit Payments                    
                (Details)                                                        
131: R112        Pension and Postretirement Health Care Plans -      HTML     58K  
                Schedule of Net Pension Benefit Expense (Details)                
132: R113        Pension and Postretirement Health Care Plans -      HTML     43K  
                Schedule of Benefit Obligation Weighted Average                  
                Assumptions (Details)                                            
133: R114        Pension and Postretirement Health Care Plans -      HTML     46K  
                Schedule of Net Periodic Benefit Expense Weighted                
                Average Assumptions (Details)                                    
134: R115        Pension and Postretirement Health Care Plans -      HTML     78K  
                Narrative (Details)                                              
135: R116        Pension and Postretirement Health Care Plans -      HTML     64K  
                Schedule of Change in Projected Benefit Obligation               
                (Details)                                                        
136: R117        Pension and Postretirement Health Care Plans -      HTML     61K  
                Schedule of Change in Plan Assets (Details)                      
137: R118        Pension and Postretirement Health Care Plans -      HTML     61K  
                Schedule of Asset Category (Details)                             
138: R119        Pension and Postretirement Health Care Plans -      HTML     64K  
                Schedule of Fair Value Measurements (Details)                    
139: R120        Pension and Postretirement Health Care Plans -      HTML     57K  
                Schedule of Amounts in Accumulated Other                         
                Comprehensive Income (Details)                                   
140: R121        Accumulated Other Comprehensive Income (Details)    HTML     74K  
141: R122        Segment Reporting - Schedule of Business Segment    HTML     79K  
                Results (Details)                                                
142: R123        Segment Reporting - Schedule of Total Assets by     HTML     46K  
                Segments (Details)                                               
143: R124        Quarterly Results (Unaudited) - Schedule of         HTML    115K  
                Quarterly Results (Details)                                      
144: R125        Quarterly Results (Unaudited) - Summary of Sales    HTML     59K  
                by Product Category (Details)                                    
146: XML         IDEA XML File -- Filing Summary                      XML    265K  
145: EXCEL       IDEA Workbook of Financial Reports                  XLSX    136K  
14: EX-101.INS  XBRL Instance -- tgt-20170128                        XML   3.69M 
16: EX-101.CAL  XBRL Calculations -- tgt-20170128_cal                XML    404K 
17: EX-101.DEF  XBRL Definitions -- tgt-20170128_def                 XML    842K 
18: EX-101.LAB  XBRL Labels -- tgt-20170128_lab                      XML   2.55M 
19: EX-101.PRE  XBRL Presentations -- tgt-20170128_pre               XML   1.50M 
15: EX-101.SCH  XBRL Schema -- tgt-20170128                          XSD    296K 
147: ZIP         XBRL Zipped Folder -- 0000027419-17-000008-xbrl      Zip    345K  


‘EX-10.CC’   —   Material Contract


This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]



 <!   C:   C: 
  Exhibit  
Exhibit (10)CC
CONFIDENTIAL TREATMENT REQUESTED
[*] Indicates confidential portions omitted pursuant to a request for confidential
treatment filed separately with the Securities and Exchange Commission.


Amendment to Pharmacy Operating Agreement

This Amendment to Pharmacy Operating Agreement is entered into by Target Corporation (“Target”) and CVS Pharmacy, Inc. (“CVS”) as of November 30, 2016.
Target and CVS are parties to the Pharmacy Operating Agreement, dated as of December 16, 2015, as supplemented by certain side letters (collectively, the “POA”). Section 8.11(a) of the POA is deleted in its entirety and replaced with the following:
(a)    Script Growth Performance Target. The Parties will measure the script volume of each of the Pharmacies existing [*] (the “Pre-Period Volume”). On [*], the Parties will measure the script volume of the Store Growth Group for the twelve month period preceding [*] (the “Post-Period Volume”). In the event the cumulative growth percentage of the [*] (the “Performance Target”), CVS shall pay to Target $[*] million for each [*] shortfall in the Performance Target, provided that such payment shall not exceed $[*] million in the aggregate. Any such payment shall be made to Target within seventy-five (75) days after the end of such [*] ([*]) year period. Beginning with [*], CVS agrees that it will plan for business growth at the Pharmacies in a manner that is [*]. In the event (i) the cumulative growth for the previous [*] period in total script volume on a [*] as of each January 1st (commencing after [*]) is less than [*]% of the [*] (based on IMS Health listings or a comparable source determined by the Parties in good faith) (the “Shortfall”), and (ii) the Shortfall is more than [*] ([*]) percentage points greater than the shortfall would be if only the [*] (as determined above), then CVS shall engage a nationally recognized consulting company (the “Consultant”), at its own cost and expense, to review the Shortfall and recommend how to decrease or eliminate the Shortfall. Target shall have the right to approve the Consultant, which approval shall not be unreasonably withheld, conditioned or delayed, and to receive a copy of the Consultant’s report. As long as the condition described in clause (ii) above continues, CVS shall implement the Consultant's recommendations in the order that CVS determines to be most effective to remediate the condition, provided that they do not require operational or other changes to the Stores (except with respect to the Pharmacies), and shall also dedicate a senior officer to oversee the Consultant’s work and the implementation of the Consultant’s recommendation(s) and to regularly update the Target Senior Officer on the progress of the implementation.

[*] Indicates confidential portions omitted pursuant to a request for confidential treatment filed
separately with the Commission




By executing below, the parties agree that the provisions of this amendment are effective as of the date first written above by their respective officers thereunto duly authorized.

 
 
 
 
TARGET CORPORATION
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Executive Vice President &
 
 
 
 
 
Chief Operating Officer
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CVS PHARMACY, INC.
 
 
 
 
 
 
 
 
 
 
 
/s/ David M. Denton        
 
 
 
 
 
 
 
 
 
 
Executive Vice President &
 
 
 
 
 
Chief Financial Officer
 




[*] Indicates confidential portions omitted pursuant to a request for confidential treatment filed
separately with the Commission


Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:3/8/174
For Period end:1/28/17
11/30/16
12/16/158-K
 List all Filings 


8 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 3/13/24  Target Corp.                      10-K        2/03/24  131:11M
 3/08/23  Target Corp.                      10-K        1/28/23  127:12M
 3/09/22  Target Corp.                      10-K        1/29/22  124:11M
 3/10/21  Target Corp.                      10-K        1/30/21  130:12M
 7/13/17  SEC                               UPLOAD9/21/17    1:35K  Target Corp.
 6/12/17  SEC                               UPLOAD9/21/17    1:41K  Target Corp.
 5/30/17  SEC                               UPLOAD9/21/17    1:136K Target Corp.
 5/12/17  SEC                               UPLOAD9/21/17    1:137K Target Corp.
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Filing Submission 0000027419-17-000008   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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