COMMITMENTS AND CONTINGENCIES

12 Months Ended

Jan. 30, 2016

Commitments and Contingencies Disclosure [Abstract]

Operating Lease Commitments

The Company leases all of its stores, offices and distribution facilities (except the Ft. Payne, Alabama distribution center which the Company owns), and certain office equipment, store fixtures and automobiles, under operating leases expiring through 2026. The leases require fixed minimum annual rental payments plus, under the terms of certain leases, additional payments for taxes, other expenses and additional rent based upon sales.

Store, office and distribution facilities minimum rent, contingent rent and sublease income are as follows (in thousands):



	Fiscal Year Ended
	January 30, 2016		January 31, 2015		February 1, 2014
Minimum rentals	159,641		164,510		168,112
Additional rent based upon sales	751		797		943
Sublease income	(2,766	)	(2,967	)	(1,138	)


9.	COMMITMENTS AND CONTINGENCIES (Continued)

Future minimum annual lease payments under the Company's operating leases at January 30, 2016 were as follows (in thousands):



	Minimum Operating Lease Payments
2016	$	155,352
2017	139,682
2018	119,065
2019	103,482
2020	88,279
Thereafter	168,225
Total minimum lease payments	$	774,085

Purchase Commitments

As of January 30, 2016, the Company has entered into various purchase commitments for merchandise for re-sale of approximately $319.4 million and approximately $15.9 million for equipment, construction and other non-merchandise commitments.

Employment Agreements

The Company has an employment agreement with its President and Chief Executive Officer, which provides for severance of two times the sum of base salary plus bonus, and certain other payments and benefits following any termination without cause or for “good reason”. As of January 30, 2016, these cash severance benefits approximated $6.3 million. In the event of a change in control of the Company, certain executives will receive, in the aggregate, approximately $23.7 million of cash severance benefits should they either be terminated or voluntarily terminate their employment due to a degradation of duties as defined in their change in control agreements.