Big Lots, Inc. Non-Qualified Stock Option Grant Agreement with Optionee

Summary

Big Lots, Inc. grants a non-qualified stock option to an individual (the Optionee) under its 1996 Performance Incentive Plan. This agreement allows the Optionee to purchase a specified number of shares of Big Lots, Inc. common stock at a set price, according to a vesting schedule. The option is not an incentive stock option and is subject to the terms of the Plan. The Optionee must accept the agreement and abide by the Plan's rules, including decisions made by the Plan's Committee.

EX-10.2 3 l09571aexv10w2.txt EXHIBIT 10.2 Exhibit 10.2 BIG LOTS, INC. NON-QUALIFIED STOCK OPTION GRANT AGREEMENT BIG LOTS, INC., an Ohio Corporation (the "Company"), hereby grants to the individual named below (the "Optionee"), subject to and conditioned upon Optionee's acceptance of all the terms and conditions of the Big Lots, Inc. 1996 Performance Incentive Plan as amended (the "Plan"), the right to purchase (the "Option"), at the option of the Optionee, an aggregate of the number of shares of Common Stock (the "Number of Shares") listed below, par value $.01 per share, of the Company upon the following terms and conditions: (NOTE: THIS GRANT MUST BE SIGNED DATE OF GRANT: _____ AND RETURNED TO THE COMPANY AT THE FOLLOWING ADDRESS:) NUMBER OF SHARES: _____ BIG LOTS, INC. OPTION PRICE: _____ TREASURY DEPT.-STOCK OPTION ADMINISTRATOR 300 PHILLIPI ROAD COLUMBUS, OHIO ###-###-#### NATURE OF GRANT: This option is a Non-Qualified Stock Option ("NQSO") and, as such, is not an Incentive Stock Option (ISO) within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended. EXERCISABILITY OF OPTION: This option will become vested in increments according to the schedule below. Except as provided in the Plan, the option, to the extent that it is vested, can be exercised any time from the date it vests through the date that it expires. Vesting is always subject to all other Plan requirements being satisfied. Shares Vesting Date Expiration Date - ------ ------------ --------------- Optionee hereby accepts this Option subject to all the terms and provisions of the Plan. Optionee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Committee upon any questions arising under the Plan. Optionee acknowledges receipt of a copy of the Plan, as in effect on the Date of Grant. Accepted as of BIG LOTS, INC. "Optionee", -------------------- By: - --------------------------------- ----------------------------