Big Lots 2007 Annual Report Download - page 12

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ii
DIRECTOR COMPENSATION ............................................................ 9
Retainers and Fees ..................................................................... 9
Stock Options ......................................................................... 9
Director Compensation Table ............................................................ 10
STOCK OWNERSHIP .................................................................... 11
Ownership of Our Common Shares by Certain Beneficial Owners and Management.............. 11
Section 16(a) Beneficial Ownership Reporting Compliance ................................... 14
EXECUTIVE COMPENSATION ........................................................... 14
Compensation Committee Report ........................................................ 14
Compensation Discussion and Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
Overview of Our Executive Compensation Program ........................................ 14
Philosophy and Objectives .......................................................... 14
Elements of In-Service Executive Compensation ......................................... 16
Employment Agreements............................................................ 18
Post-Termination and Change in Control Arrangements ................................... 19
Retirement Plans .................................................................. 19
Review of Effectiveness............................................................. 19
Our Executive Compensation Program for Fiscal 2007 ..................................... 20
Salary for Fiscal 2007 ............................................................. 21
Bonus for Fiscal 2007.............................................................. 21
Equity for Fiscal 2007 ............................................................. 22
Individual Performance Evaluation ................................................... 23
Impact of Performance on Compensation .............................................. 23
Role of Management ............................................................... 23
Independent Compensation Consultant ................................................ 24
Comparative Compensation Data..................................................... 24
Tally Sheets and Wealth Accumulation ................................................. 25
Internal Pay Equity................................................................ 25
Equity Grant Timing ............................................................... 26
Tax and Accounting Considerations ................................................... 26
Our Executive Compensation Program for Fiscal 2008 ..................................... 26
Review of Our Executive Compensation Program ........................................ 26
Committee and Board Activity in Fiscal 2008 ........................................... 27
New Minimum Share Ownership Requirements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27