Big Lots 2007 Annual Report Download - page 44

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Name
Reimbursement
of Taxes
($)
Big Lots
Contributions
to Defined
Contribution
Plans
($)
Reimbursement
of Healthcare
Costs under
Executive
Benefit Plan
($)
Big Lots
Paid Life
Insurance
Premiums
($)
Big Lots
Paid
Long-Term
Disability
Insurance
Premiums
($)
Use of
Automobile
or
Automobile
Allowance
($)
Mr. Fishman 4,818 — 5,625 1,380 2,118 10,986
Mr. Cooper 3,639 9,000 4,617 828 827 11,077
Mr. Waite 3,196 9,000 3,407 1,380 1,116 12,138
Mr. Martin 2,377 9,000 2,331 1,035 1,037 12,138
Ms. Bachmann 6,048 9,000 8,535 860 864 11,077
(7) In fiscal 2007, Mr. Fishman and Mr. Waite each received a personal benefit related to a business trip on a
corporate aircraft. We reported earnings of $621 (plus $449 for tax reimbursement) for both executives on
Form W-2 related to such trip, which earnings were calculated in accordance with the Standard Industry
Fare Level (“SIFL”) rate method permitted by the Internal Revenue Service. In fiscal 2006, Mr. Fishman and
Mr. Cooper each received a personal benefit related to a business trip on a corporate aircraft. We reported
earnings of $675 (plus $317 for tax reimbursement) for both executives on Form W-2 related to such trip,
which earnings were calculated in accordance with the SIFL rate method. Because we did not incur any
aggregate incremental cost in connection with either trip, no related amounts are included in this column.
(8) We purchase tickets to entertainment and sporting venues for the primary purpose of allowing employees to
use such tickets in furtherance of our business. Because we incur no incremental cost if a named executive
officer uses such tickets for purposes other than our business, such tickets are not included in the amounts
included in this column.
(9) As a percentage of their total compensation, the named executive officers’ respective salary and non-equity
incentive plan compensation (i.e., bonuses earned under the 2006 Bonus Plan) for fiscal 2007 were as follows:
Mr. Fishman: 13.1% and 23.3%; Mr. Cooper: 30.5% and 27.2%; Mr. Waite: 27.4% and 36.5%; Mr. Martin: 33.8%
and 36.2%; and Ms. Bachmann: 31.0% and 27.5%. As a percentage of their total compensation, the named
executive officers’ respective salary and non-equity incentive plan compensation (i.e., bonuses earned under
the 2006 Bonus Plan) for fiscal 2006 were as follows: Mr. Fishman: 24.1% and 40.9%; Mr. Cooper: 40.3% and
40.8%; Mr. Waite: 31.7% and 47.8%; Mr. Martin: 38.7% and 46.5%; and Ms. Bachmann: 40.7% and 41.1%.
Bonus and Equity Plans
The amounts reported in the Summary Compensation Table above include amounts earned under the 2006 Bonus Plan
and the 2005 Incentive Plan. Below is a description of the material terms of each plan and the awards made under those
plans to the named executive officers, as reflected in the Grants of Plan-Based Awards table that follows.
Big Lots 2006 Bonus Plan
The 2006 Bonus Plan provides for cash compensation, which is intended to qualify as “performance based
compensation” under Section 162(m), to be paid annually when we meet or exceed minimum corporate
performance amounts under one or more financial measures approved by the outside directors at the start of the
fiscal year. Whether we will achieve the minimum corporate performance amounts is substantially uncertain at
the time the corporate performance amounts and financial measures are selected. No right to a minimum bonus
exists, and the Compensation Committee has the discretion to cancel or decrease a bonus (but may not increase a
bonus for a covered employee (as that term is used within Section 162(m)) calculated under the 2006 Bonus Plan.
Any payments made with respect to a fiscal year are made in the first quarter of the following fiscal year. The
bonus awards that may be earned under the 2006 Bonus Plan range from the floor to the stretch bonus payout
percentages, and include all amounts in between. The smallest target and stretch bonus payout percentages that
may be set annually for the named executive officers are set forth in their respective employment agreements.
The floor bonus payout percentage is set annually and has historically been one-half of the target bonus payout
percentage. Subject to the terms of the employment agreements, the Compensation Committee and the other