Big Lots 2011 Annual Report Download - page 72

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- 58 -
• The amounts in the “Accelerated Equity Awards” row under the “Termination in Connection with a
Change in Control” and “Change in Control (without termination)” columns in the tables below include
the value of all unvested stock options that were in-the-money at the end of fiscal 2011 (minus the
aggregate stock option exercise prices) and all unvested restricted stock that would have vested on an
accelerated basis had a change in control occurred as of the end of fiscal 2011. As to Mr. Fishman, these
amounts include the restricted stock awarded to him in fiscal 2011 and contracted to be awarded to him
in fiscal 2012 pursuant to his retention agreement. In the event that a change in control occurs prior to
Mr. Fishman’s receipt of his fiscal 2012 restricted stock award and he remains continuously employed
by us until the change in control, in lieu of the fiscal 2012 restricted stock award, he would be entitled to
receive an amount in cash equal to the product of (1) the fair market value per common share on the date
of the change in control multiplied by (2) 250,000. The value of the restricted stock awarded pursuant to
Mr. Fishman’s retention agreement that is included in the amounts in the “Accelerated Equity Awards”
row under the “Termination in Connection with a Change in Control” and “Change in Control (without
termination)” columns in the tables below is $20,023,750. Except for the restricted stock awarded to
Mr. Fishman in fiscal 2011 and fiscal 2012 pursuant to his retention agreement, these amounts do not
reflect any equity awards that have vested or have been granted in fiscal 2012.
• The closing market price of our common shares on the final trading day on the NYSE during fiscal 2011
was $40.00 per share.
Steven S. Fishman
The following table reflects the payments that would have been due to Mr. Fishman in the event of a change in
control or the termination of his employment on January 28, 2012.
Event Occurring at January 28, 2012
Involuntary
Termination
with
Cause
Involuntary
Termination
without
Cause Voluntary
Termination
Termination
upon
Disability
Termination
upon
Death
Termination
in Connection
with a Change
in Control
Change in
Control
(without
termination)
Salary/Salary Continuation ($) — 2,800,000 — — — 2,800,000 —
Non-Equity Incentive Plan
Compensation ($) — 0 — 0 0 6,720,000 —
Healthcare Coverage ($) — 144,206 — — — 144,206 —
Long-Term Disability Benefit ($) — — — 25,000 — — —
Use of Automobile/Automobile
Allowance ($) — 42,950 — — — — —
Accelerated Equity Awards ($) — — — 3,717,450 3,717,450 25,303,750 25,303,750
Excise Tax Benefit ($) — — — — — 0 0
Total ($) — 2,987,156 — 3,742,450 3,717,450 34,967,956 25,303,750