SECOND AMENDMENT TO EMPLOYMENT AGREEMENT BY AND AMONG BIG LOTS, INC., BIG LOTS STORES, INC. AND STEVEN S. FISHMAN
Exhibit
10.3
SECOND
AMENDMENT TO
BY
AND AMONG
BIG
LOTS, INC.,
BIG
LOTS STORES, INC.
AND
XXXXXX
X. XXXXXXX
This
second amendment (“Amendment”) to the employment agreement by and among Big
Lots, Inc. (“BLI”), Big Lots Stores, Inc. (“Big Lots”) and their affiliates,
predecessor, successor, subsidiaries and other related companies (collectively
the “Company”) and Xxxxxx X. Xxxxxxx (“Executive”), collectively, the “Parties,”
dated July 6, 2005, as previously amended by the first amendment to the
employment agreement effective February 21, 2006 (collectively, the
“Agreement”), is effective as of the date below (“Effective Date”). Capitalized
terms used herein but not otherwise defined in this Amendment shall have the
meanings set forth in the Agreement.
1.00
Section
3.02.
The fourth sentence of Section 3.02 of the Agreement is amended by deleting
it
in its entirety and replacing it with the following:
The
Executive’s Bonus Payout percentage will consist of a Target Bonus of 100
percent of Base Salary and a Stretch Bonus of 200 percent of Base
Salary.
2.00
The
Agreement.
Except
as
otherwise provided herein, all provisions of the Agreement are and shall remain
in full force and effect and are hereby ratified and confirmed in all respects,
and the execution, delivery and effectiveness of this Amendment shall not
operate as a waiver or amendment of any provision of the Agreement not
specifically amended herein. All references to the Agreement shall be deemed
to
include this Amendment.
IN
WITNESS WHEREOF, the Parties have duly executed and delivered this Amendment
as
of March 9, 2007.
BIG
LOTS, INC.
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XXXXXX
X. XXXXXXX
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By:
/s/ Xxxx X. Xxxxx
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/s/
Xxxxxx X. Xxxxxxx
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BIG
LOTS STORES, INC.
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By:
/s/ Xxxxxxx X. Xxxxxxx XX
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