Document:

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                              RETAIL VENTURES, INC.

                                  Exhibit 4(a)

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                                                                    EXHIBIT 4(a)

                           RESOLUTIONS WITH RESPECT TO
                                  BONUS SHARES

         The following resolutions were adopted by the Board of Directors of
Value City Department Stores, Inc. at a meeting duly called and held on July 6,
1992.

         WHEREAS, at a meeting of this Board held on April 15, 1992, the Board
         authorized issuance by the Corporation, to the persons named below, the
         number of common shares ("1992 Bonus Shares") of the Corporation
         determined by dividing the dollar figure set opposite the names of
         those persons by the public offering price per share of the shares
         authorized at the same meeting to be registered for public offering;
         and

         WHEREAS, the public offering authorized on April 15 has been withdrawn,
         and it is therefore impossible to determine the number of shares
         issuable by reference to the public offering price; and

         WHEREAS, this Board considers it appropriate that the Corporation issue
         1992 Bonus Shares on the basis of the closing price per share of common
         shares of the Corporation on June 18, 1992, the first anniversary of
         the issuance of the Restricted Shares in 1991, to wit, $14.125 per
         share, and that the "Restricted Period," as that term is used in the
         agreement referred to below, shall commence on June 18, 1992; and

         WHEREAS, it is deemed to be in the best interests of the Corporation
         that 1992 Bonus Shares be registered pursuant to the Securities Act of
         1933, as amended, and registered or qualified pursuant to appropriate
         state securities or "blue sky" laws.

         RESOLVED, that 1992 Bonus Shares be issued to the persons and in the
         amounts set forth below:

<TABLE>
<CAPTION>
                       NAME                                     NO. OF SHARES
                       ----                                     -------------

<S>                                                                <C>
                  George A. Iacono                                  70,796
                  George Kolber                                      7,079
                  Robert M. Wysinski                                 7,079
                  Garry L. Thibodeau                                 7,079
                  Robert FL Tavenner                                 7,079
                  Denis G. Fredrick                                  7,079
                  Herbert E. Minkin                                  7,079
                  Richard L. Walters                                 7,079
                  Barnett Feldman                                    7,079
                  John Douglas                                       7,079
                  John McKinney                                      7,079
                  Ray Demers                                         7,079
                                                                 ---------
                                                                   148,665
</TABLE>

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         FURTHER RESOLVED, that the 1992 Bonus Shares be issued pursuant to an
         agreement in the form presented at this meeting, a copy of which shall
         be appended to the minutes of this meeting (the "1992 Bonus Share
         Agreement"), and that certificates for such shares be issued and
         delivered, as provided in the resolutions heretofore adopted, upon
         registration and approval for listing thereof on the New York Stock
         Exchange as hereinafter provided.

         FURTHER RESOLVED, that the proper officers of the Corporation are
         hereby authorized to prepare and to cause to be filed with the
         Securities and Exchange Commission (the "Commission") a registration
         statement on the appropriate form (the "Registration Statement") for
         the registration of the 1992 Bonus Shares under the Securities Act of
         1933, as amended, together with any and a documents and exhibits
         required to be filed therewith.

         FURTHER RESOLVED, that Robert M. Wysinski, Vice President, Secretary,
         Treasurer and Chief Financial Officer of the Corporation, is hereby
         designated as the agent of the Corporation to receive notices and
         communications from the Commission relating to the Registration
         Statement.

         FURTHER RESOLVED, that the proper officers of the Corporation are
         hereby authorized to cause to be prepared and filed with the Commission
         such amendments to the Registration Statement as they may deem
         necessary and desirable and to cause the same to become and remain
         effective.

         FURTHER RESOLVED, that each director of the Corporation and each
         officer who is required by law and the rules and regulations of the
         Commission to sip the Registration Statement, whether on behalf of the
         Corporation or as an officer or director thereof, be and he hereby is,
         authorized to execute a power of attorney appointing Robert M. Wysinski
         or Richard L. Walters, or either of them, as his attorney-in-fact, to
         sign the Registration Statement and any amendment, including any
         post-effective amendment thereto, as fully as such director or officer
         might do in any such capacity, and to file the same with the
         Commission; that any and all actions hereafter taken by said attorney,
         under said powers of attorney be, and the same hereby are, ratified and
         confirmed; that said attorney shall have all the powers conferred upon
         him by said powers of attorney, and that the Registration Statement and
         any amendments thereto hereafter executed by said attorney under said
         powers of attorney be, and the same hereby are, ratified and confirmed
         as legally binding upon the Corporation to the same extent as if the
         same were executed by each director and each said officer of the
         Corporation.

         FURTHER RESOLVED, that it is desirable and in the best interests of the
         Corporation that the Shares be qualified or registered for sale in
         those states where such qualification or registration is required by
         law; that the Chairman of the Board of Directors, the President, any
         Vice President or the Secretary hereby are authorized to determine the
         states in which action shall be taken to qualify or register for sale
         all or such part of the Shares as said officers may deem advisable;
         that said officers are hereby authorized to perform on behalf of the
         Corporation any and all such acts as they may deem necessary or
         advisable in order to comply with the applicable laws of any

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         such states, and in connection therewith to execute and file all
         requisite papers and documents, including, but not limited to,
         applications, reports, surety bonds, irrevocable consents and
         appointments of attorneys for service of process, and the execution by
         such officers of any such paper or document or the doing by them of any
         act in connection with the foregoing matters shall conclusively
         establish their authority therefor from the Corporation, and the
         approval and ratification by the Corporation of the papers and
         documents so executed.

         FURTHER RESOLVED, that this Board hereby adopts the form of any
         resolution required by any state or other authority to be filed in
         connection with the offering and sale of the Shares if (i) in the
         opinion of any proper officer of the Corporation, upon advice of
         counsel, the adoption of such resolution is advisable, and (ii) the
         Secretary of the Corporation evidences such adoption by attaching to
         these resolutions a copy of such resolution, which will thereupon be
         deemed to have been adopted by this Board with the same force and
         effect as if presented in writing, and specifically adopted by, this
         Board.

         FURTHER RESOLVED, that the Corporation make application to the New York
         Stock Exchange, Inc. ("NYSE") for the listing thereon of the 1992 Bonus
         Shares; that the proper officers of the Corporation be, and they hereby
         are, authorized to make application for such listing and, in connection
         therewith, to sip in the name and on behalf of the Corporation and to
         cause to be Filed or delivered all such applications, statements,
         certificates, agreements and other instruments and documents as shall
         be necessary to accomplish such listing; and that any of such officers
         be, and each of them hereby is, authorized to appear on behalf of the
         Corporation before the appropriate committee or body of the NYSE as
         such appearance may be required, with authority to make such changes in
         any such application, agreement or other instrument as he may, in his
         discretion, deem necessary to comply with the requirements for such
         listing.

         FURTHER RESOLVED, that the appropriate officers of the Corporation are
         hereby authorized to take any and all actions which they or any of them
         may deem appropriate and advisable to carry out the intent and purpose
         of these resolutions.<PAGE>

                              RETAIL VENTURES, INC.

                                  Exhibit 4(b)

<PAGE>

                                                                    EXHIBIT 4(b)

                           1992 BONUS SHARE AGREEMENT

         This 1992 Bonus Share Agreement (the "Agreement") is entered into this
_____ day of ________________, 1992, by and between, VALUE CITY DEPARTMENT
STORES, INC., an Ohio corporation (the "Company"), and
_________________________, an officer or key employee of the Company (the
"Employee").

                                    RECITALS

         The Company desires to provide the Employee with an ownership interest
in the Company and an incentive to contribute to the growth and profits of the
Company and to recognize the Employee's service to the Company.

         1. In consideration of the Employee's prior and continuing
contributions to the Company, the Company hereby agrees to issue to Employee
___________ common shares of the Company (the "Shares"), subject to all of the
terms and conditions set forth in this Agreement. A certificate or certificates
for the Shares shall be issued in the Employee's name and the Employee shall
thereupon be a shareholder with respect to all of the Shares represented by such
certificate or certificates and shall have all of the rights of a shareholder
with respect to the Shares, including the right to vote the Shares and to
receive all dividends and other distributions paid with respect to the Shares;
provided, however, that the Shares shall be subject to the restrictions
hereinafter described. Certificates representing Shares shall be imprinted, in
conspicuous type, with the following legend:

         THE SALE, EXCHANGE, TRANSFER, PLEDGE, HYPOTHECATION OR OTHER
         DISPOSITION OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE
         AND ANY INTEREST THEREIN IS RESTRICTED BY AN AGREEMENT DATED
         AS OF _______________, 1992 BETWEEN THE CORPORATION AND
         ______________________, A COPY OF WHICH IS LOCATED AT THE OFFICE
         OF THE SECRETARY OF THE CORPORATION. THE SECRETARY OF THE
         CORPORATION WILL MAIL WITHOUT CHARGE TO A SHAREHOLDER, WITHIN
         FIVE DAYS AFTER WRITTEN REQUEST THEREFOR FROM SUCH SHAREHOLDER,
         A COPY OF SUCH AGREEMENT.

         Issuance of the Shares shall occur as soon as practicable following
approval of such issuance by the shareholders of the Company in accordance with
the New York Stock Exchange policy and listing of the Shares on the New York
Stock Exchange. The Company agrees to take appropriate steps to secure such
approval and listing.

         2. Escrow Agent. The Employee shall, immediately upon receipt of the
certificate or certificates deposit such certificate or certificates together
with a stock power or other instrument of transfer, appropriately endorsed in
blank, with Irwin Bain, as escrow agent (the "Escrow Agent"), under a deposit
agreement containing such terms and conditions as the Company shall approve. Any
expenses of such escrow shall be borne by the Company. The Escrow Agent shall
hold the certificate or certificates for the Shares until the restrictions
hereinafter set forth in Section 3 are satisfied. On each

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anniversary of the Effective Date during the Restricted Period (as those terms
are defined in Section 3), the Escrow Agent shall release to the Employee a
certificate or certificates representing the appropriate Vested Percentage of
the Shares, as determined in accordance with Section 3, without the legend set
forth in Section 1.

         3. Commencing on June 18, 1992 (the "Effective Date") and ending on the
fifth anniversary of the Effective Date (the "Restricted Period'), the Employee
shall not sell, exchange, transfer, pledge, hypothecate or otherwise dispose of
any legal or beneficial ownership interest in the Shares; provided, however,
that, subject to Section 6 of this Agreement, the Employee may sell, exchange,
transfer, pledge, hypothecate or otherwise dispose of the Shares to the extent
of the percentage of the Shares which have vested (the "Vested Percentage"),
based upon the Employee's continuous employment by the Company, on a fun-time
basis, as determined in accordance with the following schedule:

<TABLE>
<CAPTION>
                           YEARS OF CONTINUOUS
                            EMPLOYMENT BY THE
                         COMPANY AFTER EFFECTIVE              VESTED PERCENTAGE
                         -----------------------              -----------------

<S>                              <C>                                <C>
                                 1                                   20%
                                 2                                   40%
                                 3                                   60%
                                 4                                   80%
                                 5                                  100%
</TABLE>

         At the end of the Restricted Period, the restrictions of this Section 3
shall lapse.

         4.       Termination of Employment.
                  -------------------------

                  (a) If the Company's employment of Employee should be
terminated voluntarily by Employee at any time prior to the end of the
Restricted Period, all of the Restricted Shares which have not vested, based
upon the Employee's Vested Percentage, shall be forfeited by the Employee and
the certificate or certificates for such Shares shall be delivered to the
Company by the Escrow Agent upon the Escrow Agent's receipt of written notice
from the Company of such termination.

                  (b) If the Company's employment of Employee is terminated
otherwise than voluntarily by the Employee, including as a result of Employee's
death or disability, 100% of the Shares shall vest and Employee, Employee's
personal representative or the person or persons to whom his rights pass by will
or the laws of descent and distribution may sell, exchange, transfer, pledge,
hypothecate or otherwise dispose of the Shares without reference to the
restrictions set forth in Section 3. Upon written notice from the Company of
such an event, the Escrow Agent shall release to Employee or Employee's legal
representative or beneficiary all of the certificates representing the Shares
without the legend set forth in Section 1.

         5.       Reorganization.
                  --------------

                  (a) If shares of common stock of the Company should, as a
result of a stock split, stock dividend, combination of shares or any other
change, or exchange for other securities, by

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reclassification, reorganization, merger, consolidation, recapitalization or
otherwise, be increased or decreased or changed into or exchanged for a
different number or kind of shares of stock or other securities of the Company
or of another corporation, the number of Shares shall be appropriately adjusted
to reflect such action. If any such adjustment shall result in a fractional
share, such fraction shall be disregarded.

                  (b) If, as a result of one of the events set forth in
paragraph (a) of this Section 5, the Employee shall, as owner of the Shares, be
entitled to new or additional or different shares of stock or securities, the
certificate or certificates therefor, or other evidences of such new or
additional or different shares or securities, shall be imprinted with the legend
set forth in Section 1, and together with a stock power or other instrument of
transfer appropriately endorsed, shall be deposited by Employee with the Escrow
Agent, and all the provisions of this Agreement shall be applicable to such new
or additional or different shares or securities to the extent applicable to the
Shares.

         6. Securities Laws Compliance. It is the intention of the Company to
register the Shares with the Securities and Exchange Commission (the "SEC")
pursuant to the Securities Act of 1933, as amended, and to register or qualify
the Shares, if such registration is required, pursuant to applicable state
securities or blue sky laws. Employee recognizes, however, that he may be deemed
an "affiliate" of the Company and may be subject to restrictions upon sale of
the Shares under applicable rules of the SEC. Employee agrees, therefore, that
he shall notify the Secretary of the Company prior to selling any of the Shares
and shall make no such sale if the Company shall advise him that such sale is in
violation of any such rule.

         7. Withholding Taxes. The Company shall have the right to require the
Employee to remit to the Company, or to withhold from other amounts payable to
the Employee, as compensation or otherwise, an amount sufficient to satisfy all
federal, state and local tax withholding requirements.

         8. Nothing in this Agreement shall confer on the Employee any right to
continue in the service of the Company or interfere with the right of the
Company to terminate such Employee's employment or other services at any time.
This Agreement shall in no way, now or hereafter, reduce, enlarge or modify the
employment relationship between the Company and the Employee. The Shares and the
Vested Percentage shall not be affected by any change of duties or position as
long as the Employee continues to be employed on a full-time basis by the
Company.

         9. Notices. All notices required pursuant to this Agreement shall be in
writing and shall be personally delivered or sent by registered or certified
mail, postage prepaid, (a) if to the Company, at its principal office, Attn:
Legal Department; (b) if to the Escrow Agent, to Irwin Bain, Esq., at the
principal office of Schottenstein Stores Corporation; or (c) if to Employee, to
Employee's last known address on the personnel records of the Company.

         10. This Agreement shall be construed as a contract under the laws of
the State of Ohio, without reference to its choice of law rules. It may be
executed in several counterparts, all of which shall constitute one agreement.
It shall bind and benefit the parties and their respective successors, assigns,
heirs and legal representatives. No assignment of this Agreement, in whole or in
part, may be made by any party hereto without the prior written consent of all
of the other parties.

<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed as of the day and year first above written.

                                   VALUE CITY DEPARTMENT STORES, INC.

                                   By:
                                       ----------------------------------------

                                   Its:
                                       ----------------------------------------

                                   EMPLOYEE:

                                   By:
                                       ----------------------------------------

                                   Its:
                                       ----------------------------------------

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