Annual report pursuant to Section 13 and 15(d)

Related Party Transactions

v3.5.0.2
Related Party Transactions
12 Months Ended
Jun. 30, 2016
Related Party Transactions [Abstract]  
Related Party Transactions
10.   Related Party
        Transactions

The Company’s wholly owned subsidiary, Steiner-Atlantic, leases 27,000 square feet of warehouse and office space from an affiliate of Michael S. Steiner, a director and Executive Vice President and Chief Operating Officer of the Company, pursuant to a lease agreement dated November 1, 2014. Under the lease, which has a term of three years, monthly base rental payments were $10,275 during the first year of the lease, and are $10,580 during the second year of the lease and $10,900 during the third year of the lease. In addition to base rent, Steiner-Atlantic is responsible under the lease for costs related to real estate taxes, utilities, maintenance, repairs and insurance. Expenses under this lease, including rent and property taxes, were approximately $161,000 for each of fiscal 2016 and 2015.

The Company paid a law firm, in which a former director of the Company who retired from Board service during November 2015 is Senior Counsel, approximately $15,000 in fiscal 2016 and $83,500 in fiscal 2015, for legal services performed.