Big Lots 2013 Annual Report Download - page 134

B-10
respect to which deferrals of compensation are treated as having been
deferred under a single plan under Treasury Regulation §1.409A-1(c)(2)
are terminated and distributed with respect to each Participant that
experienced the Change of Control, so that under the terms of the
termination and distribution, all such Participants are required to
receive all amounts of compensation deferred under the terminated
arrangements within twelve months of the date the Company
irrevocably takes all necessary action to terminate and distribute
amounts under such arrangements.
7. RIGHTS OF PARTICIPANTS
7.01. No Participant or Beneficiary shall have any interest in any fund or in any specific asset or assets
of the Company or an Affiliate by reason of any account under the Plan. It is intended that the
Company has merely a contractual obligation to make payments when due hereunder and it is not
intended that the Company hold any funds in reserve or trust to secure payments hereunder. No
Participant may assign, pledge, or encumber his/her interest under the Plan, or any part thereof,
except that a Participant may designate a Beneficiary as provided herein.
7.02. Nothing contained in this Plan shall be construed to give any associate or Participant any right
to receive any Bonus other than in the sole discretion of the Committee or any rights whatsoever
with respect to the Common Shares of the Company.
8. NO EMPLOYEE RIGHTS
8.01. Nothing in the Plan or participation in the Plan shall confer upon any Participant the right to be
employed by the Company or an Affiliate or to continue in the employ of the Company or an
Affiliate, nor shall anything in the Plan, or participation in the Plan amend, alter or otherwise
affect any rights or terms of employment or other benefits arising from that employment.
9. ADMINISTRATION
9.01. Administration. The Committee shall have complete authority to administer the Plan, interpret
the terms of the Plan, determine eligibility of associates to participate in the Plan, and make
all other determinations and take all other actions in accordance with the terms of the Plan and
any trust agreement established under Section 6.04(b)(iv). Any determination or decision by the
Committee shall be conclusive and binding on all persons who at any time have or claim to have
any interest whatever under this Plan.
9.02. Liability of Committee, Indemnification. To the extent permitted by law, the Committee shall not
be liable to any person for any action taken or omitted in connection with the interpretation and
administration of this Plan unless attributable to his or her own bad faith or willful misconduct.
9.03. Expenses. The costs of the establishment, the adoption, and the administration of the Plan,
including but not limited to legal and accounting fees, shall be borne by the Company. The
expenses of establishing and administering any trust under Section 6.04(b)(iv) shall be borne by
the trust; provided, however, that the Company shall bear, and shall not be reimbursed by, the
trust for any tax liability of the Company associated with the investment of assets by the trust.
9.04. Choice of Law. The validity and effect of this Plan and the rights and obligations of all persons
affected hereby shall be construed and determined in accordance with the laws of the State of
Ohio, unless superseded by federal law, which shall govern correspondingly.