Big Lots 2009 Annual Report Download - page 84

B-3
2.17 “Grant Date” means the later of (1) the date the Committee establishes the terms of an Award or (2) the date
specified in the Award Agreement. In no event may the Grant Date be earlier than the Effective Date.
2.18 “Incentive Stock Option” or “ISO” means any Option granted under the Plan that is designated as an “incentive
stock option” within the meaning of Code §422.
2.19 “Non-Qualified Stock Option” or “NQSO” means an Option granted under the Plan that (1) is not designated as
an ISO or (2) an ISO that, for any reason other than exercise, ceased to be an ISO.
2.20 “Option” means a right to purchase Common Shares granted to a Participant in accordance with Article VI. An
Option may be either an ISO or NQSO.
2.21 “Option Period” means the period during which an Option may be exercised.
2.22 “Participant” means a person who satisfies the eligibility conditions of Article V and to whom an Award has
been granted by the Committee under the Plan.
2.23 “Performance-Based Award” means an Award granted subject to the terms of Article X.
2.24 “Performance Period” means the period (which, with respect to a Covered Employee, may be no shorter than
a fiscal quarter of the Company) established by the Committee over which the Committee measures whether or not
Performance-Based Awards have been earned.
2.25 “Performance Unit” means a right granted subject to the terms and conditions established by the Committee
under Article IX.
2.26 “Plan” means the Big Lots 2005 Long-Term Incentive Plan, as herein amended and restated and as may be
further amended from time to time.
2.27 “Restatement Date” means May 27, 2010 May 29, 2008, the date of the Company’s 2010 2008 Annual Meeting
of Shareholders.
2.28 “Restricted Stock” means Common Shares granted subject to the terms and conditions established by the
Committee under Section 8.1.
2.29 “Restricted Stock Unit” means an Award granted subject to the terms and conditions established by the
Committee under Section 8.2.
2.30 “Restriction Period” means the period over which the Committee measures whether terms and conditions (such
as forfeitures) placed on Restricted Stock or Restricted Stock Units have been met.
2.31 “Rule 16b-3” means Rule 16b-3, as from time to time in effect and applicable to the Plan and Participants,
issued by the Securities and Exchange Commission under Section 16 of the Exchange Act or any successor rule.
2.32 “Stock Appreciation Right” or “SAR” means a right granted to a Participant to receive, either in cash or
Common Shares or a combination thereof, the appreciation in the value of a Common Share over a certain period of
time. SARs are granted under Article VII.
2.33 “Termination of Employment” means the occurrence of any act or event that causes a Participant to cease
being an employee of the Company or of any Affiliate, including, without limitation, death, Disability, dismissal,
severance at the election of the Participant, or severance as a result of the discontinuance, liquidation, sale, or
transfer by the Company or its Affiliates of a business owned or operated by the Company or any Affiliate. With
respect to any person who is not an employee of the Company or any Affiliate (such as an eligible consultant as
determined in accordance with Article V), the Award Agreement shall establish what act or event shall constitute a
Termination of Employment for purposes of the Plan. A Termination of Employment shall occur with respect to an
employee who is employed by an Affiliate if the Affiliate shall cease to be an Affiliate and the Participant shall not
immediately thereafter become an employee of the Company or an Affiliate.
2.34 “Vesting Acceleration Feature” means a term in an Award Agreement that, upon achievement and certification
of performance goals set forth in Section 10.3, causes the lapse of restrictions imposed on Restricted Stock or
Restricted Stock Units to accelerate.