Big Lots 2013 Annual Report Download - page 127

B-3
3.1920. “IRC” means the Internal Revenue Code of 1986, as amended from time to time, and any
successor.
3.2021. “Participant” means a key employee of the Company or an Affiliate who has been approved for
participation in the Plan by the Committee (or its designee).
3.2122. “Performance Period” means the period (which, with respect to a Covered Associate, may be
no shorter than a fiscal quarter of the Company) established by the Committee over which the
Committee measures whether or not Bonuses have been earned. In most cases, the Performance
Period will be a Fiscal Year. In the case of an inaugural Performance Period or a promotion, the
Performance Period may be less than a Fiscal Year.
3.223.23 “Requisite Service Period” means the period during which a Participant is required to provide
service in exchange for a Bonus award.
3.24. “Tax” means any net income, alternative or add-on minimum tax, gross income, gross receipts,
commercial activity, sales, use, consumer, transfer, documentary, registration, ad valorem, value
added, franchise, profits, license, withholding, payroll, employment, unemployment insurance
contribution, excise, severance, stamp, occupation, premium, property, environmental or windfall
profit tax, custom, duty, unclaimed fund/abandoned property, or other tax, governmental fee or
other like assessment or charge of any kind whatsoever, together with any interest or any penalty,
addition to tax or additional amount imposed by any governmental authority responsible for the
imposition of any such tax.
3.2325. “Termination” or any form thereof means a “separation from service” as defined in Treasury
Regulation §1.409A-1(h) by a Participant with the Company and all its Affiliates.
3.2426. “Unforeseeable Financial Emergency” means a severe financial hardship to a Participant within
the meaning of Treasury Regulation §1.409A-3(i)(3) resulting from: (a) an illness or accident of
the Participant or the Participant’s spouse, Beneficiary, or dependent (as defined in IRC section
152, without reference to IRC sections 152(b)(1), (b)(2) and (d)(1)(B)); (b) loss of the Participant’s
property due to casualty; or (c) other similar extraordinary and unforeseeable circumstances
arising as a result of events beyond the control of the Participant.
4. ELIGIBILITY AND PARTICIPATION
4.01 Approval. Each key employee of the Company or an Affiliate who is approved for participation
in the Plan by the Committee (or under the authority conveyed by the Committee) shall be a
Participant as of the date designated. Notwithstanding the foregoing, any key employee of the
Company or an Affiliate who was participating in the Plan as of the Restatement Effective Date
shall remain a Participant as long as the key employee is in an Eligible Position.
4.02 Termination of Approval. The Committee may withdraw its approval for participation for a
Participant at any time. In the event of such withdrawal, the key employee concerned shall cease
to be an active Participant as of the date selected by the Committee. Nothing in this Section 4.02
shall permit distribution of amounts credited to a Participant’s Deferred Bonus Account before
the time specified in Section 6.04.
4.03 Transfers In, Out of and Between Eligible Positions.
(a) A key employee may be approved for participation during a portion of a Fiscal Year.
(i) With respect to employees who are not Covered Associates, an employee newly
hired or transferred into an Eligible Position shall have his/her participation
prorated during the first Fiscal Year provided employment or transfer occurs at
least two months prior to the end of the Fiscal Year.