FIRST AMENDMENT TO BIG LOTS EXECUTIVE BENEFIT PLAN

WHEREAS, Big Lots, Inc. (“Company”) maintains that certain Big Lots Executive Benefit Plan (“Plan”) pursuant to which Company agrees to reimburse certain medical, dental and vision expenses incurred and not reimbursed under the Big Lots Associate Benefit Plan by associates eligible to participate in the Plan and who become participants in the Plan, as described therein (“Participants”); and

WHEREAS, the Plan is a self-insured health plan subject to the rules of Section 105(h) of the Internal Revenue Code of 1986, as amended (“Code”); and

WHEREAS, Section 409A was added to the Code effective January 1, 2005 and final Treasury Regulations were issued under Section 409A of the Code effective January 1, 2009; and

WHEREAS, Section 409A applies to any plan providing for the deferral of compensation, including self-insured health plans such as the Plan; and

WHEREAS, the Company desires to amend the Plan to comply with the requirements of Section 409A of the Code and the Treasury Regulations promulgated thereunder;

NOW THEREFORE, the Company hereby amends the Plan as follows: