Big Lots 2007 Annual Report Download - page 50

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Nonqualified Deferred Compensation
Supplemental Savings Plan
All of the named executive officers, as well as substantially all other full-time employees, are eligible to participate
in the Savings Plan, our “401(k) plan.” The Supplemental Savings Plan is maintained for those executives
participating in the Savings Plan who desire to contribute more than the amount allowable under the Savings
Plan. The Supplemental Savings Plan constitutes a contract to pay deferred compensation and limits deferrals in
accordance with prevailing tax law. The Supplemental Savings Plan is designed to pay the deferred compensation
in the same amount as if contributions had been made to the Savings Plan. We have no obligation to fund the
Supplemental Savings Plan, and all assets and amounts payable under the Supplemental Savings Plan are subject to
the claims of our general creditors.
In order to participate in the Savings and Supplemental Savings Plans, an eligible employee must satisfy applicable
age and service requirements and must make contributions to such plans (“Participant Elective Contributions”).
Participant Elective Contributions are made through authorized payroll deductions to one or more of the several
investment funds available under the Savings Plan. All Participant Elective Contributions are matched by us
(“Employer Matching Contributions”) at a rate of 100% for the first 2% of salary contributed and 50% for the
next 4% of salary contributed. Additionally, the amount of the Employer Matching Contribution is subject to the
maximum annual compensation that may be taken into account for benefit calculation purposes under the IRC
($225,000 for calendar year 2007). Accordingly, the maximum aggregate Employer Matching Contributions that
could be made to a named executive officer participating in the Savings and Supplemental Savings Plans was
$9,000 for fiscal 2007.
Under the Savings Plan and the Supplemental Savings Plan, a participant who has terminated employment with Big
Lots is entitled to all funds in his or her account, except that if termination is for a reason other than retirement,
disability or death, then the participant is entitled to receive only the vested portion of the Employer Matching
Contribution. Under both plans, 25% of the Employer Matching Contribution vests annually beginning on the
second anniversary of the employee’s hiring. All other unvested accrued benefits pertaining to Employer Matching
Contributions will be forfeited. Upon a change in control, we may elect to effectuate a lump sum payment of all
amounts (vested and unvested) under the Supplemental Savings Plan.
Nonqualified Deferred Compensation Table
The following table reflects the contributions to, earnings in and balance of each named executive officer’s account
held under the Supplemental Savings Plan.
Name
(a)
Executive
Contributions
in Last FY
($)(1)
(b)
Registrant
Contributions
in Last FY
($)(2)
(c)
Aggregate Earnings
in Last FY
($)(3)
(d)
Aggregate
Withdrawals/
Distributions
($)
(e)
Aggregate Balance
at Last FYE
($)(4)
(f)
Mr. Fishman — — — — —
Mr. Cooper 68,692 4,793 16,854 — 240,015
Mr. Waite 19,821 4,793 18,015 — 729,591
Mr. Martin 94,615 4,793 12,290 — 284,818
Ms. Bachmann 16,673 4,793 3,318 — 91,987
(1) With respect to Mr. Cooper and Mr. Martin, $49,942 and $37,615 of the amounts in this column are included
in their respective fiscal 2007 “Salary” reported in the Summary Compensation Table, while the balance is
included in their respective fiscal 2006 “Non-Equity Incentive Plan Compensation” reported in the Summary
Compensation Table as a result of their deferrals of a portion of the cash bonuses earned pursuant to the 2006
Bonus Plan for fiscal 2006 performance (paid in fiscal 2007). With respect to Mr. Waite and Ms. Bachmann,
the amounts in this column are included in their respective fiscal 2007 “Salary” reported in the Summary
Compensation Table.
(2) The amounts in this column are included in the “All Other Compensation” column of the Summary
Compensation Table for fiscal 2007.