Document:

1996 Director Option Plan as amended

 Exhibit 10.1 
 COST PLUS, INC. 
 1996 DIRECTOR OPTION PLAN 

(Amended June 19, 1997) 
 (Amended June 15, 1999) 
 (Amended June 22, 2000)

 (Amended June 27, 2002) 
 (Amended July 1, 2004) 
 (Amended June 29, 2005)

 (Amended June 22, 2006) 
 (Amended June 18, 2009) 
 (Amended June 23, 2011)

 1. Purposes of the Plan. The purposes of this 1996 Director Option Plan are to attract and retain
the best available personnel for service as Outside Directors (as defined herein) of the Company, to provide additional incentive to the Outside Directors of the Company to serve as Directors, and to encourage their continued service on the Board.

 Awards granted under the Plan may be Nonstatutory Stock Options, Restricted Stock, Performance Shares, Performance Units or
Deferred Stock Units, as determined by the Committee at the time of grant. 
 2. Definitions. As used herein, the
following definitions shall apply: 
 (a) “Award” means, individually or collectively, a grant under the Plan of
Options, Restricted Stock, Performance Shares, Performance Units or Deferred Stock Units. 
 (b) “Award
Agreement” means the written agreement setting forth the terms and provisions applicable to each Award granted under the Plan. The Award Agreement is subject to the terms and conditions of the Plan. 

(c) “Awarded Stock” means the Common Stock subject to an Award. 

(d) “Board” means the Board of Directors of the Company. 

(e) “Code” means the Internal Revenue Code of 1986, as amended. 

(f) “Common Stock” means the Common Stock of the Company. 

(g) “Committee” means a committee appointed by the Board to administer the Plan and to perform the functions set forth
herein, or, if no such committee is appointed, the Board. 
 (h) “Company” means Cost Plus, Inc., a California
corporation. 
 (i) “Deferred Stock Unit” means a deferred stock unit Award granted to a Participant pursuant
to Section 11. 
 (j) “Director” means a member of the Board. 

(k) “Employee” means any person, including officers and Directors, employed by the Company or any Parent or Subsidiary
of the Company. The payment of a Director’s fee by the Company shall not be sufficient in and of itself to constitute “employment” by the Company. 

  
 1 

 (l) “Exchange Act” means the Securities Exchange Act of 1934, as amended.

 (m) “Fair Market Value” means, as of any date, the value of Common Stock determined as follows: 

(i) If the Common Stock is listed on any established stock exchange or a national market system, including without limitation the Nasdaq
National Market or The Nasdaq SmallCap Market of The Nasdaq Stock Market, its Fair Market Value shall be the closing sales price for such stock (or the closing bid, if no sales were reported) as quoted on such exchange or system for the day of
determination, as reported in The Wall Street Journal or such other source as the Committee deems reliable; 
 (ii) If
the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, the Fair Market Value of a Share of Common Stock shall be the mean between the high bid and low asked prices for the Common Stock on the date
of determination, as reported in The Wall Street Journal or such other source as the Board deems reliable, or; 
 (iii)
In the absence of an established market for the Common Stock, the Fair Market Value thereof shall be determined in good faith by the Board. 
 (n) “Inside Director” means a Director who is an Employee. 
 (o)
“Option” means a Nonstatutory Stock Option granted pursuant to the Plan. 
 (p) “Outside
Director” means a Director who is not an Employee. 
 (q) “Nonstatutory Stock Option” means a stock
option not intended to qualify as an incentive stock option within the meaning of Section 422 of the Code and the regulations promulgated thereunder. 
 (r) “Notice of Grant” means a written notice evidencing certain terms and conditions of an individual Award. The Notice of Grant is part of the Award Agreement. 

(s) “Parent” means a “parent corporation,” whether now or hereafter existing, as defined in
Section 424(e) of the Code. 
 (t) “Participant” means a Director or entity that holds an Award granted
under the Plan. 
 (u) “Performance Share” means a performance share Award granted to a Participant pursuant to
Section 9. 
 (v) “Performance Unit” means a performance unit Award granted to a Participant pursuant to
Section 10. 
 (w) “Plan” means this 1996 Director Option Plan, as amended. 

(x) “Representative Director” means a Director who is a member of the Board as the representative for an entity that
employs such Director. The determination of whether an Outside Director is a Representative Director shall be determined by the representations of such Director and such determination may be changed at any time by such Director. 

(y) “Restricted Stock” means Shares granted pursuant to Section 8 of the Plan. 

(z) “Share” means a share of the Common Stock, as adjusted in accordance with Section 13 of the Plan. 

(aa) “Subsidiary” means a “subsidiary corporation,” whether now or hereafter existing, as defined in
Section 424(f) of the Internal Revenue Code of 1986. 

  
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 3. Stock Subject to the Plan. Subject to the provisions of
Section 13 of the Plan, the maximum aggregate number of Shares which may be awarded and sold under the Plan is 1,003,675 Shares of Common Stock. The Shares may be authorized, but unissued, or reacquired Common Stock. 

If an Award expires or becomes unexercisable without having been exercised in full, or, with respect to Restricted Stock, Performance
Shares, Performance Units or Deferred Stock Units, is forfeited to or repurchased by the Company, the unpurchased Shares (or for Awards other than Options, the forfeited or repurchased shares) which were subject thereto shall become available for
future grant or sale under the Plan (unless the Plan has terminated). However, Shares that have actually been issued under the Plan under any Award shall not be returned to the Plan and shall not become available for future distribution under the
Plan; provided, however, that if Shares of Restricted Stock, Performance Shares, Performance Units or Deferred Stock Units are repurchased by the Company at their original purchase price or are forfeited to the Company, such Shares shall become
available for future grant under the Plan. To the extent an Award under the Plan is paid out in cash rather than stock, such cash payment shall not result in reducing the number of Shares available for issuance under the Plan. 

4. Administration and Grants of Awards under the Plan. 

(a) The Plan shall be administered by the Committee which shall hold meetings at such times as may be necessary for the proper
administration of the Plan. The Committee shall keep minutes of its meetings. Except as otherwise provided in the Company’s Articles of Incorporation or By-Laws, a quorum shall consist of a majority of the members of the Committee and a
majority of a quorum may authorize any action. Except as otherwise provided in the Company’s Articles of Incorporation or Bylaws, any decision or determination reduced to writing and signed by the requisite number of the members of the
Committee shall be as fully effective as if made by the vote of the requisite number of members at a meeting duly called and held. 
 (b) The Committee shall be composed of the Board of Directors or a committee appointed by the Board. 
 (c) Subject to the express terms and conditions set forth herein, the Committee shall have the power from time to time: 
 (i) to determine those individuals to whom Awards shall be granted under the Plan and the number of Shares subject to each Award to be granted, to prescribe the terms and conditions (which need not be
identical) of each such Award, including the Fair Market Value on any date, and to make any amendment or modification to any Award Agreement, including the acceleration of vesting, consistent with the terms of the Plan; 

(ii) to construe and interpret the Plan and the Awards granted hereunder and to establish, amend and revoke rules and regulations for
the administration of the Plan, including, but not limited to, correcting any defect or supplying any omission, or reconciling any inconsistency in the Plan or in any Award Agreement, in the manner and to the extent it shall deem necessary or
advisable so that the Plan complies with applicable law, and otherwise to make the Plan fully effective. All decisions and determinations by the Committee in the exercise of this power shall be final, binding and conclusive upon the Company, its
Subsidiaries, the Participants, and all other persons having any interest therein; 
 (iii) to exercise its discretion with
respect to the powers and rights granted to it as set forth in the Plan; and 
 (iv) generally, to exercise such powers and to
perform such acts as are deemed necessary or advisable to promote the best interests of the Company with respect to the Plan. 

5. Eligibility. 
 (a) Except as provided in Section 5(b) hereof, Awards may be granted only to Outside Directors. 

  
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 (b) In the event an Outside Director is a Representative Director, Awards shall be granted
in the name of the entity employing such Representative Director and such Representative Director shall not personally receive any Award grants in the Representative Director’s own name. 

(c) The Plan shall not confer upon any Outside Director any right with respect to continuation of service as a Director or nomination to
serve as a Director, nor shall it interfere in any way with any rights which the Director or the Company may have to terminate the Director’s relationship with the Company at any time. 

6. Term of Plan. The Plan shall become effective upon the earlier to occur of its adoption by the Board or its approval
by the shareholders of the Company. It shall continue in effect until March 31, 2016 unless sooner terminated under Section 14 of the Plan. 
 7. Stock Options 
 (a) Procedure for Grants of Options. The terms of
an Option granted hereunder shall be as follows: 
 (i) the term of the Option shall be up to ten (10) years. 

(ii) subject to Section 13 hereof, the Option shall be exercisable: 

(A) in the event of an Option held directly by an Outside Director, only while the Outside Director remains a Director of the Company.

 (B) in the event of an Option held by an entity pursuant to Section 5(b) hereof, only while the Representative Director
remains a Director of the Company. 
 (iii) the exercise price per Share shall be 100% of the Fair Market Value per Share on
the date of grant of the Option. In the event that the date of grant of the Option is not a trading day, the exercise price per Share shall be the Fair Market Value on the next trading day immediately following the date of grant of the Option.

 (iv) subject to Section 13 hereof, the Option shall become exercisable as determined by the Committee at the time of
grant of the Option. 
 (b) Procedure for Exercise; Rights as Shareholder. Any Option granted hereunder shall be
exercisable at such times as are set forth in Section 7(a). 
 An Option may not be exercised for a fraction of a Share.

 An Option shall be deemed to be exercised when written notice of such exercise has been given to the Company in accordance
with the terms of the Option by the person entitled to exercise the Option and full payment for the Shares with respect to which the Option is exercised has been received by the Company. Full payment may consist of any consideration and method of
payment allowable under Section 7(c) of the Plan. Until the issuance (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company) of the stock certificate evidencing such Shares, no
right to vote or receive dividends or any other rights as a shareholder shall exist with respect to the Awarded Stock, notwithstanding the exercise of the Option. A share certificate for the number of Shares so acquired shall be issued to the
Participant as soon as practicable after exercise of the Option. No adjustment shall be made for a dividend or other right for which the record date is prior to the date the stock certificate is issued, except as provided in Section 13 of the
Plan. 
 Exercise of an Option in any manner shall result in a decrease in the number of Shares which thereafter may be
available, both for purposes of the Plan and for sale under the Option, by the number of Shares as to which the Option is exercised. 

  
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 (c) Form of Consideration for Stock Options. The consideration to be paid for the
Shares to be issued upon exercise of an Option, including the method of payment, shall consist of (i) cash, (ii) check, (iii) other shares which (x) in the case of Shares acquired upon exercise of an Option, have been owned by
the Participant for more than six (6) months on the date of surrender, and (y) have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which said Option shall be exercised,
(iv) delivery of a properly executed exercise notice together with such other documentation as the Company and the broker, if applicable, shall require to effect an exercise of the Option and delivery to the Company of the sale or loan proceeds
required to pay the exercise price, or (v) any combination of the foregoing methods of payment. 
 (d)
Termination of Continuous Status as a Director. Subject to Section 13 hereof, in the event a Participant’s status as a Director terminates (other than the Participant’s death or total and permanent disability (as
defined in Section 22(e)(3) of the Code)), the Participant may exercise his or her Option, but only within six (6) months following the date of such termination, and only to the extent that the Participant was entitled to exercise it on
the date of such termination (but in no event later than the expiration of its ten (10) year term). To the extent that the Participant was not entitled to exercise an Option on the date of such termination, and to the extent that the
Participant does not exercise such Option (to the extent otherwise so entitled) within the time specified herein, the Option shall terminate. 
 (e) Disability of Participant. In the event a Participant’s status as a Director terminates as a result of total and permanent disability (as defined in Section 22(e)(3) of the Code), the
Participant may exercise his or her Option, but only within twelve (12) months following the date of such termination, and only to the extent that the Participant was entitled to exercise it on the date of such termination (but in no event
later than the expiration of its ten (10) year term). To the extent that the Participant was not entitled to exercise an Option on the date of termination, or if the Participant does not exercise such Option (to the extent otherwise so
entitled) within the time specified herein, the Option shall terminate. 
 (f) Death of Participant. In the
event of a Participant’s death, the person or entity designated as beneficiary in writing by the Participant, or, if no such person or entity has been designated as beneficiary by the Participant, the Participant’s estate or a person who
acquired the right to exercise the Option by bequest or inheritance may exercise the Option, but only within twelve (12) months following the date of death, and only to the extent that the Participant was entitled to exercise it on the date of
death (but in no event later than the expiration of its ten (10) year term). To the extent that the Participant was not entitled to exercise an Option on the date of death, and to the extent that the Participant’s estate or a person who
acquired the right to exercise such Option does not exercise such Option (to the extent otherwise so entitled) within the time specified herein, the Option shall terminate. 
 8. Restricted Stock. 
 (a) Grant of Restricted Stock. Subject to the
terms and conditions of the Plan, Restricted Stock may be granted to Participants at any time as shall be determined by the Committee, in its sole discretion. The Committee shall have complete discretion to determine (i) the number of Shares
subject to a Restricted Stock award granted to any Participant, and (ii) the conditions that must be satisfied, which typically will be based principally or solely on continued provision of services as a director but may include a
performance-based component, upon which is conditioned the grant or vesting of Restricted Stock. Restricted Stock shall be granted in the form of units to acquire Shares. Each such unit shall be the equivalent of one Share for purposes of
determining the number of Shares subject to an Award. Until the Shares are issued, no right to vote or receive dividends or any other rights as a shareholder shall exist with respect to the units to acquire Shares. 

(b) Other Terms. The Committee, subject to the provisions of the Plan, shall have complete discretion to determine the terms and
conditions of Restricted Stock granted under the Plan. Restricted Stock grants shall be subject to the terms, conditions, and restrictions determined by the Committee at the time the stock is awarded. The Committee may require the recipient to sign
a Restricted Stock Award agreement as a condition of the award. Any certificates representing the Shares of stock awarded shall bear such legends as shall be determined by the Committee. 

  
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 (c) Restricted Stock Award Agreement. Each Restricted Stock grant shall be evidenced
by an agreement that shall specify the purchase price (if any) and such other terms and conditions as the Committee, in its sole discretion, shall determine; provided; however, that if the Restricted Stock grant has a purchase price, such purchase
price must be paid no more than ten (10) years following the date of grant. 
 9. Performance Shares. 

(a) Grant of Performance Shares. Subject to the terms and conditions of the Plan, Performance Shares may be granted to
Participants at any time as shall be determined by the Committee, in its sole discretion. The Committee shall have complete discretion to determine (i) the number of Shares subject to a Performance Share award granted to any Participant, and
(ii) the conditions that must be satisfied, which typically will be based principally or solely on achievement of performance milestones but may include a service-based component, upon which is conditioned the grant or vesting of Performance
Shares. Performance Shares shall be granted in the form of units to acquire Shares. Each such unit shall be the equivalent of one Share for purposes of determining the number of Shares subject to an Award. Until the Shares are issued, no right to
vote or receive dividends or any other rights as a shareholder shall exist with respect to the units to acquire Shares. 
 (b)
Other Terms. The Committee, subject to the provisions of the Plan, shall have complete discretion to determine the terms and conditions of Performance Shares granted under the Plan. Performance Share grants shall be subject to the terms,
conditions, and restrictions determined by the Committee at the time the stock is awarded, which may include such performance-based milestones as are determined appropriate by the Committee. The Committee may require the recipient to sign a
Performance Shares agreement as a condition of the award. Any certificates representing the Shares of stock awarded shall bear such legends as shall be determined by the Committee. 

(c) Performance Share Award Agreement. Each Performance Share grant shall be evidenced by an agreement that shall specify such
other terms and conditions as the Committee, in its sole discretion, shall determine. 
 10. Performance Units.

 (a) Grant of Performance Units. Performance Units are similar to Performance Shares, except that they shall be settled
in a cash equivalent to the Fair Market Value of the underlying Shares, determined as of the vesting date. Subject to the terms and conditions of the Plan, Performance Units may be granted to Participants at any time and from time to time as shall
be determined by the Committee, in its sole discretion. The Committee shall have complete discretion to determine the conditions that must be satisfied, which typically will be based principally or solely on achievement of performance milestones but
may include a service-based component, upon which is conditioned the grant or vesting of Performance Units. Performance Units shall be granted in the form of units to acquire Shares. Each such unit shall be the cash equivalent of one Share of Common
Stock. No right to vote or receive dividends or any other rights as a shareholder shall exist with respect to Performance Units or the cash payable thereunder. 
 (b) Number of Performance Units. The Committee will have complete discretion in determining the number of Performance Units granted to any Participant. 

(c) Other Terms. The Committee, subject to the provisions of the Plan, shall have complete discretion to determine the terms and
conditions of Performance Units granted under the Plan. Performance Unit grants shall be subject to the terms, conditions, and restrictions determined by the Committee at the time the stock is awarded, which may include such performance-based
milestones as are determined appropriate by the Committee. The Committee may require the recipient to sign a Performance Unit agreement as a condition of the award. Any certificates representing the Shares awarded shall bear such legends as shall be
determined by the Committee. 
 (d) Performance Unit Award Agreement. Each Performance Unit grant shall be evidenced by
an agreement that shall specify such terms and conditions as the Committee, in its sole discretion, shall determine. 

  
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 11. Deferred Stock Units. Deferred Stock Units shall consist of a Restricted Stock,
Performance Share or Performance Unit Award that the Committee, in its sole discretion permits to be paid out in installments or on a deferred basis, in accordance with rules and procedures established by the Committee. Deferred Stock Units shall
remain subject to the claims of the Company’s general creditors until distributed to the Participant. 
 12.
Non-Transferability of Awards. Unless determined otherwise by the Committee, an Award may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and
may be exercised, during the lifetime of the recipient, only by the recipient. If the Committee makes an Award transferable, such Award shall contain such additional terms and conditions as the Committee deems appropriate. 

13. Adjustments Upon Changes in Capitalization, Dissolution, Merger or Asset Sale. 

(a) Changes in Capitalization. Subject to any required action by the shareholders of the Company, the number of Shares covered by
each outstanding Award, the number of Shares which have been authorized for issuance under the Plan but as to which no Awards have yet been granted or which have been returned to the Plan upon cancellation or expiration of an Award, as well as the
price per Share covered by each such outstanding Award shall be proportionately adjusted for any increase or decrease in the number of issued Shares resulting from a stock split, reverse stock split, stock dividend, combination or reclassification
of the Common Stock, or any other increase or decrease in the number of issued Shares effected without receipt of consideration by the Company; provided, however, that conversion of any convertible securities of the Company shall not be deemed to
have been “effected without receipt of consideration.” Except as expressly provided herein, no issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no
adjustment by reason thereof shall be made with respect to, the number or price of Shares subject to an Award. 
 (b)
Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the Company, to the extent that an Award has not been previously exercised, it shall terminate immediately prior to the consummation of such proposed
action. 
 (c) Merger or Asset Sale. 
 (i) In the event of a merger of the Company with or into another corporation or the sale of substantially all of the assets of the Company, outstanding Award may be assumed or equivalent awards may be
substituted by the successor corporation or a Parent or Subsidiary thereof (the “Successor Corporation”). If an Award is assumed or substituted for, the Award or equivalent award shall continue to vest in accordance with the Plan for so
long as the Participant (or, in the case of an entity Participant, such Participant’s Representative Director) serves as a Director or a director of the Successor Corporation. Following such assumption or substitution, if the Participant’s
(or, in the case of an entity Participant, such Participant’s Representative Director’s) status as a Director or director of the Successor Corporation, as applicable, is terminated other than upon a voluntary resignation by the Participant
(or, in the case of an entity Participant, such Participant’s Representative Director), the Award shall become fully vested and exercisable, including as to Shares for which it would not otherwise be exercisable, all restrictions on Restricted
Stock and Deferred Stock Units will lapse, and, with respect to Performance Shares and Performance Units, all performance goals or other vesting criteria will be deemed achieved at target levels and all other terms and conditions met. Thereafter, in
the case of an Option or equivalent award, such Option or equivalent award shall remain exercisable in accordance with Sections 7(d) through (f) above. 
 If the Successor Corporation does not assume an outstanding Award or substitute for it an equivalent award, the Award shall become fully vested and exercisable, including as to Shares for which it would
not otherwise be vested and exercisable, all restrictions on Restricted Stock and Deferred Stock Units will lapse, and, with respect to Performance Shares and Performance Units, all performance goals or other vesting criteria will be deemed achieved
at target levels and all other terms and conditions met. In the case of an outstanding Option, the Board shall notify the Participant that the Option shall be fully exercisable for a period of thirty (30) days from the date

  
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of such notice, and upon the expiration of such period the Option shall terminate. In the case of an outstanding award of Restricted Stock, Performance Shares, Performance Units and Deferred
Stock Units, immediately after each outstanding award of Restricted Stock, Performance Shares, Performance Units and Deferred Stock Units have become fully vested, the award shall be terminated and cancelled in exchange for a per share payment for
each Share (or, for Performance Units, unit) then subject to such each outstanding award of Restricted Stock, Performance Shares, Performance Units and Deferred Stock Units equal to the number (or amount) and kind of stock, securities, cash,
property or other consideration that each holder of a Share was entitled to receive in connection with the merger or sale of assets. 
 (ii) For the purposes of this Section 13(c), an Award shall be considered assumed if, following the merger or sale of assets, the Award confers the right to purchase or receive, for each Share of
Awarded Stock subject to the Award immediately prior to the merger or sale of assets, the consideration (whether stock, cash, or other securities or property) received in the merger or sale of assets by holders of Common Stock for each Share held on
the effective date of the transaction (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding Shares). 

14. Amendment and Termination of the Plan. 

(a) Amendment and Termination. Except as set forth in Section 4, the Board may at any time amend, alter, suspend, or
discontinue the Plan, but no amendment, alteration, suspension, or discontinuation shall be made which would impair the rights of any Participant under any grant theretofore made, without such Participant’s consent. In addition, to the extent
necessary and desirable to comply with any other applicable law or regulation (including any rule of a stock exchange or automated stock quotation system upon which the shares are traded), the Company shall obtain shareholder approval of any Plan
amendment in such a manner and to such a degree as required. 
 (b)
Effect of Amendment or Termination. Any such amendment or termination of the Plan shall not affect Awards already granted and such Awards shall remain in full force and effect as if this Plan had not been amended or
terminated. 
 15. Time of Granting Awards. The date of grant of an Award shall, for all purposes, be the
date determined in accordance with Section 4 hereof. 
 16. Conditions Upon Issuance of Shares.
Shares shall not be issued pursuant to the exercise of an Award unless the exercise of such Award and the issuance and delivery of such Shares (or with respect to Performance Units, the cash equivalent thereof) pursuant thereto shall comply with all
relevant provisions of law, including, without limitation, the Securities Act of 1933, as amended, the Exchange Act, the rules and regulations promulgated thereunder, state securities laws, and the requirements of any stock exchange upon which the
Shares may then be listed, and shall be further subject to the approval of counsel for the Company with respect to such compliance. 
 As a condition to the exercise of an Award, the Company may require the person exercising such Award to represent and warrant at the time of any such exercise that the Shares are being purchased only for
investment and without any present intention to sell or distribute such Shares, if, in the opinion of counsel for the Company, such a representation is required by any of the aforementioned relevant provisions of law. 

Inability of the Company to obtain authority from any regulatory body having jurisdiction, which authority is deemed by the
Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority shall not have
been obtained. 
 17. Reservation of Shares. The Company, during the term of this Plan, will at all times
reserve and keep available such number of Shares as shall be sufficient to satisfy the requirements of the Plan. 

  
 8Executive Performance Incentive Plan

 Exhibit 10.2 
 COST PLUS, INC. 
 EXECUTIVE PERFORMANCE INCENTIVE PLAN 

(Effective June 23, 2011) 
 TABLE OF CONTENTS 
  

									
	 	 	 	  	 	  	Page	 
	 SECTION 1 BACKGROUND, PURPOSE AND DURATION
	  	 	1	  
				
		 	 1.1
	  	Effective Date	  	 	1	  
		 	 1.2
	  	Purpose of the Plan	  	 	1	  
		
	 SECTION 2 DEFINITIONS
	  	 	1	  
				
		 	 2.1
	  	“Actual Award”	  	 	1	  
		 	 2.2
	  	“Affiliate”	  	 	1	  
		 	 2.3
	  	“Base Salary”	  	 	1	  
		 	 2.4
	  	“Board”	  	 	1	  
		 	 2.5
	  	“Change in Control”	  	 	1	  
		 	 2.6
	  	“Code”	  	 	2	  
		 	 2.7
	  	“Committee”	  	 	2	  
		 	 2.8
	  	“Company”	  	 	2	  
		 	 2.9
	  	“Determination Date”	  	 	2	  
		 	 2.10
	  	“Disability”	  	 	2	  
		 	 2.11
	  	“Employee”	  	 	2	  
		 	 2.12
	  	“Fiscal Year”	  	 	2	  
		 	 2.13
	  	“Maximum Award”	  	 	2	  
		 	 2.14
	  	“Participant”	  	 	2	  
		 	 2.15
	  	“Payout Formula”	  	 	2	  
		 	 2.16
	  	“Performance Period”	  	 	2	  
		 	 2.17
	  	“Performance Goals”	  	 	2	  
		 	 2.18
	  	“Plan”	  	 	2	  
		 	 2.19
	  	“Target Award”	  	 	3	  
		 	 2.20
	  	“Termination of Employment”	  	 	3	  
		
	 SECTION 3 SELECTION OF PARTICIPANTS AND DETERMINATION OF AWARDS
	  	 	3	  
				
		 	 3.1
	  	Performance Goals	  	 	3	  
		 	 3.2
	  	Selection of Participants	  	 	3	  
		 	 3.3
	  	Determination of Performance Goals	  	 	4	  
		 	 3.4
	  	Determination of Target Awards	  	 	4	  
		 	 3.5
	  	Determination of Payout Formula	  	 	4	  
		 	 3.6
	  	Date for Determinations	  	 	4	  
		 	 3.7
	  	Determination of Actual Awards	  	 	4	  
		
	 SECTION 4 PAYMENT OF AWARDS
	  	 	4	  
				
		 	 4.1
	  	Right to Receive Payment	  	 	4	  
		 	 4.2
	  	Timing of Payment	  	 	4	  
		 	 4.3
	  	Form of Payment	  	 	5	  
		 	 4.4
	  	Termination of Employment	  	 	5	  

  
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 TABLE OF CONTENTS 

(continued) 
  

									
	 	 	 	  	 	  	Page	 
		
	 SECTION 5 ADMINISTRATION
	  	 	5	  
				
		 	 5.1
	  	Committee is the Administrator	  	 	5	  
		 	 5.2
	  	Committee Authority	  	 	5	  
		 	 5.3
	  	Decisions Binding	  	 	5	  
		 	 5.4
	  	Delegation by the Committee	  	 	5	  
		
	 SECTION 6 GENERAL PROVISIONS
	  	 	5	  
				
		 	 6.1
	  	Tax Withholding	  	 	5	  
		 	 6.2
	  	No Effect on Employment	  	 	5	  
		 	 6.3
	  	Participation	  	 	6	  
		 	 6.4
	  	Indemnification	  	 	6	  
		 	 6.5
	  	Successors	  	 	6	  
		 	 6.6
	  	Beneficiary Designations	  	 	6	  
		 	 6.7
	  	Nontransferability of Awards	  	 	6	  
		
	 SECTION 7 AMENDMENT, TERMINATION AND DURATION
	  	 	6	  
				
		 	 7.1
	  	Amendment, Suspension or Termination	  	 	6	  
		 	 7.2
	  	Duration of the Plan	  	 	6	  
		
	 SECTION 8 LEGAL CONSTRUCTION
	  	 	7	  
				
		 	 8.1
	  	Gender and Number	  	 	7	  
		 	 8.2
	  	Severability	  	 	7	  
		 	 8.3
	  	Requirements of Law	  	 	7	  
		 	 8.4
	  	Governing Law	  	 	7	  
		 	 8.5
	  	Captions	  	 	7	  
		 	 8.6
	  	Code Section 409A	  	 	7	  

  
 ii 

 COST PLUS, INC. 

EXECUTIVE PERFORMANCE INCENTIVE PLAN 
 SECTION 1 
 BACKGROUND, PURPOSE AND DURATION 

1.1 Effective Date. The Plan will become effective upon ratification by an affirmative vote of the holders of a majority of
the Shares that are present in person or by proxy and entitled to vote at the 2011 Annual General Meeting of the Company. 

1.2 Purpose of the Plan. The Plan is intended to increase shareholder value and the success of the Company by motivating
Participants (1) to perform to the best of their abilities, and (2) to achieve the Company’s objectives. The Plan’s goals are to be achieved by providing Participants with the opportunity to earn incentive awards for the
achievement of goals relating to the performance of the Company. The Plan is intended to permit the payment of bonuses that qualify as performance-based compensation under Section 162(m) of the Code. 

SECTION 2 

DEFINITIONS 
 The following words and phrases shall have the following meanings unless a different meaning is plainly required by the context: 
 2.1 “Actual Award” means as to any Performance Period, the actual award (if any) payable to a Participant for the Performance Period. Each Actual Award is determined by the Payout Formula
for the Performance Period, subject to the Committee’s authority under Section 3.7 to eliminate or reduce the award otherwise determined by the Payout Formula. 
 2.2 “Affiliate” means a member of the Company’s “affiliated group,” as defined in Section 1504 of the Code (determined without regard to Section 1504(b) of the
Code). 
 2.3 “Base Salary” means as to any Performance Period, unless the Committee provides otherwise when
establishing the Target Award, the Participant’s earned salary during the Performance Period. Such Base Salary shall be before both (a) deductions for taxes or benefits, and (b) deferrals of compensation pursuant to Company-sponsored
plans and Affiliate-sponsored plans. For avoidance of doubt, “Base Salary” does not include bonuses, commissions, equity compensation, incentive or compensation. 
 2.4 “Board” means the Board of Directors of the Company. 
 2.5
“Change in Control” means the occurrence of any of the following, in one or a series of related transactions: 

a. Any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act of 1934, as amended) becomes the
“beneficial owner” (as defined in Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the total voting power represented by the Company’s then
outstanding voting securities; 
 b. The consummation of the sale or disposition by the Company of all or substantially all of
the Company’s assets; 

  
 1 

 c. A change in the composition of the Board occurring within a two (2)-year period, as a
result of which fewer than a majority of the directors are Incumbent Directors. “Incumbent Directors” means directors who either (A) are Directors as of the effective date of the Plan, or (B) are elected, or nominated for
election, to the Board with the affirmative votes of at least a majority of the Incumbent Directors at the time of such election or nomination (but will not include an individual whose election or nomination is in connection with an actual or
threatened proxy contest relating to the election of directors to the Company); or 
 d. The consummation of a merger or
consolidation of the Company with any other corporation, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding
or by being converted into voting securities of the surviving entity or its parent) at least fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity or its parent outstanding
immediately after such merger or consolidation. 
 e. The approval by the Shareholders of the Company of a plan of complete
liquidation of the Company 
 f. The complete liquidation or dissolution of the Company. 

2.6 “Code” means the Internal Revenue Code of 1986, as amended. Reference to a specific section of the Code or
regulation thereunder shall include such section or regulation, any valid regulation promulgated thereunder, and any comparable provision of any future legislation or regulation amending, supplementing or superseding such section or regulation.

 2.7 “Committee” means the committee appointed by the Board (pursuant to Section 5.1) to administer the
Plan. 
 2.8 “Company” means Cost Plus, Inc. or any successor thereto. 

2.9 “Determination Date” means the latest possible date that will not jeopardize a Target Award or Actual Award’s
qualification as performance-based compensation under Section 162(m) of the Code). 
 2.10 “Disability”
means a permanent and total disability determined in accordance with a policy or policies established by the Committee (in its discretion) from time to time. 
 2.11 “Employee” means any employee of the Company or of an Affiliate, whether such employee is so employed at the time the Plan is adopted or becomes so employed subsequent to the
adoption of the Plan. 
 2.12 “Fiscal Year” means the fiscal year of the Company. 

2.13 “Maximum Award” means as to any Participant for any Performance Period, $3,000,000. 

2.14 “Participant” means as to any Performance Period, an Employee who has been selected by the Committee for
participation in the Plan for that Performance Period. 
 2.15 “Payout Formula” means as to any Performance
Period, the formula or payout matrix established by the Committee pursuant to Section 3.5 in order to determine the Actual Awards (if any) to be paid to Participants. The formula or matrix may differ from Participant to Participant. 

2.16 “Performance Period” means a Fiscal Year or such longer or shorter period as determined by the Committee in its
sole discretion. 
 2.17 “Performance Goals” shall have the meaning as set forth in Section 3.1 of the
Plan. 
 2.18 “Plan” means the Cost Plus, Inc. Executive Performance Incentive Plan, as set forth in this
instrument and as hereafter amended from time to time. 

  
 2 

 2.19 “Target Award” means the target award payable under the Plan to a
Participant for the Performance Period, expressed as a percentage of his or her Base Salary or a specific dollar amount, as determined by the Committee in accordance with Section 3.4. 

2.20 “Termination of Employment” means a cessation of the employee-employer relationship between an Employee and the
Company or an Affiliate for any reason, including, but not by way of limitation, a termination by resignation, discharge, death, Disability, retirement, or the disaffiliation of an Affiliate, but excluding any such termination where there is a
simultaneous re-employment by the Company or an Affiliate. 
 SECTION 3 

SELECTION OF PARTICIPANTS AND DETERMINATION OF AWARDS 
 3.1 Performance Goals. The granting of awards pursuant to the Plan may be made subject to the attainment of goal(s) (or combined goal(s)) determined by the Committee (in its discretion)
relating to one or more business criteria within the meaning of Section 162(m) of the Code to be applicable to a Participant for a Target Award for a Performance Period (“Performance Goals”). As determined by the Committee, the
Performance Goals for any Target Award applicable to a Participant may provide for a targeted level or levels of achievement using one or more of the following measures: cash flow, business unit or division performance, earnings (which may include
earnings before interest, taxes, depreciation and amortization (EBITDA), or earnings before taxes and net earnings), earnings per share, expense reduction, gross margin, shareholder value, market share, net income, net sales, operating income,
operating margin, productivity, return on assets, return on capital, return on shareholder equity, return on sales, and total shareholder return. Performance Goals may differ from Participant to Participant, Performance Period to Performance Period
and from award to award. Any criteria used may be measured, as applicable, (i) in absolute terms; (ii) in relative terms over the passage of time and/or any measurement against other companies or financial or business or stock index
metrics particular to the Company); (iii) on a per share and/or share per capita basis; (iv) against the performance of the Company as a whole or against any Affiliate(s), or a particular segment(s), a business unit(s) or a product(s) of
the Company; (v) on a pre-tax or after-tax basis; and/or (vi) using an actual foreign exchange rate or on a foreign exchange neutral basis. Prior to the Determination Date, the Committee shall determine whether any element(s) (for example,
but not by way of limitation, the effect of mergers or acquisitions) shall be included in or excluded from the calculation of any Performance Goal with respect to any Participants (whether or not such determinations result in any Performance Goal
being measured on a basis other than generally accepted accounting principles). In all other respects, Performance Goals will be calculated in accordance with the Company’s financial statements, generally accepted accounting principles, or
under a methodology established by the Committee prior to or at the time of the issuance of an award and which is consistently applied with respect to a Performance Goal in the relevant Performance Period. The Committee will appropriately adjust any
evaluation of performance under a Performance Goal to exclude (i) any extraordinary non-recurring items as described in Accounting Principles Board Opinion No. 30 and/or in management’s discussion and analysis of financial conditions
and results of operations appearing in the Company’s annual report to shareholders for the applicable year; or (ii) the effect of any changes in accounting principles affecting the Company’s or a business units’ reported results.
In addition, the Committee will adjust any performance criteria, Performance Goal or other feature of an award that relates to or is wholly or partially based on the number of, or the value of, any stock of the Company, to reflect any stock dividend
or split, repurchase, recapitalization, combination, or exchange of shares or other similar changes in such stock. 
 3.2
Selection of Participants. The Committee, in its sole discretion, shall select the Employees who shall be Participants for any Performance Period. The Committee, in its sole discretion, also may designate as Participants one or more
individuals (by name or position) who are expected to become Employees during a Performance Period. Participation in the Plan is in the sole discretion of the Committee, and shall be determined on a Performance Period by Performance Period basis.
Accordingly, an Employee who is a Participant for a given Performance Period in no way is guaranteed or assured of being selected for participation in any subsequent Performance Period. 

  
 3 

 3.3 Determination of Performance Goals. The Committee, in its sole discretion,
shall establish the Performance Goals for each Participant for the Performance Period. Such Performance Goals shall be set forth in writing. 
 3.4 Determination of Target Awards. The Committee, in its sole discretion, shall establish a Target Award for each Participant. Each Participant’s Target Award shall be determined by the
Committee in its sole discretion, and each Target Award shall be set forth in writing. 
 3.5 Determination of Payout
Formula. On or prior to the Determination Date for a Performance Period, the Committee, in its sole discretion, shall establish a Payout Formula for purposes of determining the Actual Award (if any) payable to each Participant. Each Payout
Formula shall (a) be in writing, (b) be based on a comparison of actual performance to the Performance Goals, (c) provide for the payment of a Participant’s Target Award if the Performance Goals for the Performance Period are
achieved at the predetermined level, and (d) provide for the payment of an Actual Award greater than or less than the Participant’s Target Award, depending upon the extent to which actual performance exceeds or falls below the Performance
Goals. Notwithstanding the preceding, in no event shall a Participant’s Actual Award for any Performance Period exceed the Maximum Award. 
 3.6 Date for Determinations. The Committee shall make all determinations under Sections 3.2 through 3.5 on or before the Determination Date. 

3.7 Determination of Actual Awards. After the end of each Performance Period, the Committee shall certify in writing (for
example, in its meeting minutes) the extent to which the Performance Goals applicable to each Participant for the Performance Period were achieved or exceeded, as determined by the Committee. A Participant will be eligible to receive an Actual Award
intended to qualify as performance-based compensation under Section 162(m) of the Code for a Performance Period only if the Performance Goals for such period are achieved. The Actual Award for each Participant shall be determined by applying
the Payout Formula to the level of actual performance that has been certified in writing by the Committee. Notwithstanding any contrary provision of the Plan, in determining the amounts earned by a Participant pursuant to an award intended to
qualified as performance-based compensation under Section 162(m) of the Code, the Committee will have the right to (a) reduce or eliminate (but not to increase) the amount payable at a given level of performance to take into account
additional factors that the Committee may deem relevant to the assessment of individual or corporate performance for the Performance Period, (b) determine what Actual Award, if any, will be paid in the event of a Termination of Employment as
the result of a Participant’s death or Disability or upon a Change in Control or in the event of a Termination of Employment following a Change in Control prior to the end of the Performance Period, and (c) determine what Actual Award, if
any, will be paid in the event of a Termination of Employment other than as the result of a Participant’s death or Disability prior to a Change in Control and prior to the end of the Performance Period to the extent an Actual Award would have
otherwise been achieved had the Participant remained employed through the end of the Performance Period. 
 SECTION 4

 PAYMENT OF AWARDS 
 4.1 Right to Receive Payment. Each Actual Award that may become payable under the Plan shall be paid solely from the general assets of the Company or the Affiliate that employs the Participant
(as the case may be), as determined by the Committee. Nothing in this Plan shall be construed to create a trust or to establish or evidence any Participant’s claim of any right to payment of an Actual Award other than as an unsecured general
creditor with respect to any payment to which he or she may be entitled. 
 4.2 Timing of Payment. Subject to
Section 3.7, payment of each Actual Award shall be made as soon as administratively practicable following the determination and certification of the Actual Award as set forth in Section 3.7, but in no event later than the fifteenth day of
the third month of the Fiscal Year following the date 

  
 4 

 
the Participant’s Actual Award has been earned and is no longer subject to a substantial risk of forfeiture; provided that the Committee may permit Participants to elect to defer payment of
their Actual Awards in a manner satisfying the requirements of Section 409A of the Code. 
 4.3 Form of
Payment. Each Actual Award shall be paid in cash (or its equivalent) in a single lump-sum unless otherwise deferred in accordance with Section 4.2. 
 4.4 Termination of Employment. Except as permitted in Section 3.7, if a Participant incurs a Termination or Employment for any reason prior to the date of payment of an Actual Award, such
Participant shall not be entitled to an Award. 
 SECTION 5 

ADMINISTRATION 
 5.1 Committee is the Administrator. As of the Effective Date of the Plan, the Plan shall be administered by the Committee. The Committee shall consist of not less than two (2) members of
the Board. The members of the Committee shall be appointed from time to time by, and serve at the pleasure of, the Board. Each member of the Committee shall qualify as an “outside director” under Section 162(m) of the Code. If it is
later determined that one or more members of the Committee do not so qualify, actions taken by the Committee prior to such determination shall be valid despite such failure to qualify. 

5.2 Committee Authority. It shall be the duty of the Committee to administer the Plan in accordance with the Plan’s
provisions. The Committee shall have all powers and discretion necessary or appropriate to administer the Plan and to control its operation, including, but not limited to, the power to (a) determine which Employees shall be granted awards,
(b) prescribe the terms and conditions of awards, (c) interpret the Plan and the awards, (d) adopt such procedures and sub-plans as are necessary or appropriate to permit participation in the Plan by Employees who are foreign
nationals or employed outside of the United States, (e) adopt rules for the administration, interpretation and application of the Plan as are consistent therewith, and (f) interpret, amend or revoke any such rules. 

5.3 Decisions Binding. All determinations and decisions made by the Committee, the Board, and any delegate of the Committee
pursuant to the provisions of the Plan shall be final, conclusive, and binding on all persons, and shall be given the maximum deference permitted by law. 
 5.4 Delegation by the Committee. The Committee, in its sole discretion and on such terms and conditions as it may provide, may delegate all or part of its authority and powers under the Plan
to one or more directors and/or officers of the Company; provided, however, that the Committee may not delegate its authority and/or powers with respect to awards that are intended to qualify as performance-based compensation under
Section 162(m) of the Code. 
 SECTION 6 
 GENERAL PROVISIONS 
 6.1 Tax Withholding. The Company or an
Affiliate, as determined by the Committee, shall withhold all applicable taxes from any Actual Award, including any federal, state, local and other taxes (including, but not limited to the Participant’s FICA and SDI). 

6.2 No Effect on Employment. Nothing in the Plan shall interfere with or limit in any way the right of the Company or an
Affiliate, as applicable, to terminate any Participant’s employment or service at any time, with or without cause. For purposes of the Plan, transfer of employment of a Participant between the Company and any

  
 5 

 
one of its Affiliates (or between Affiliates) shall not be deemed a Termination of Employment. Employment with the Company and its Affiliates is on an at-will basis only. The Company expressly
reserves the right, which may be exercised at any time and without regard to when during or after a Performance Period such exercise occurs, to terminate any individual’s employment with or without cause, and to treat him or her without regard
to the effect which such treatment might have upon him or her as a Participant. 
 6.3 Participation. No Employee
shall have the right to be selected to receive an award under this Plan, or, having been so selected, to be selected to receive a future award. 
 6.4 Indemnification. Each person who is or shall have been a member of the Committee, or of the Board, shall be indemnified and held harmless by the Company against and from (a) any loss,
cost, liability, or expense that may be imposed upon or reasonably incurred by him or her in connection with or resulting from any claim, action, suit, or proceeding to which he or she may be a party or in which he or she may be involved by reason
of any action taken or failure to act under the Plan or any award, and (b) from any and all amounts paid by him or her in settlement thereof, with the Company’s approval, or paid by him or her in satisfaction of any judgment in any such
claim, action, suit, or proceeding against him or her, provided he or she shall give the Company an opportunity, at its own expense, to handle and defend the same before he or she undertakes to handle and defend it on his or her own behalf. The
foregoing right of indemnification shall not be exclusive of any other rights of indemnification to which such persons may be entitled under the Company’s charter and/or organizational documents, by contract, as a matter of law, or otherwise,
or under any power that the Company may have to indemnify them or hold them harmless. 
 6.5 Successors. All
obligations of the Company and any Affiliate under the Plan, with respect to awards granted hereunder, shall be binding on any successor to the Company and/or such Affiliate, whether the existence of such successor is the result of a direct or
indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business or assets of the Company or such Affiliate. 
 6.6 Beneficiary Designations. If permitted by the Committee, a Participant under the Plan may name a beneficiary or beneficiaries to whom any vested but unpaid award shall be paid in the event
of the Participant’s death. Each such designation shall revoke all prior designations by the Participant and shall be effective only if given in a form and manner acceptable to the Committee. In the absence of any such designation, any vested
benefits remaining unpaid at the Participant’s death shall be paid to the Participant’s estate. 
 6.7
Nontransferability of Awards. No award granted under the Plan may be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will, by the laws of descent and distribution, or to the limited extent
provided in Section 6.6. All rights with respect to an award granted to a Participant shall be available during his or her lifetime only to the Participant. 
 SECTION 7 
 AMENDMENT, TERMINATION AND DURATION 

7.1 Amendment, Suspension or Termination. The Board or the Committee, each in its sole discretion, may amend or terminate the
Plan, or any part thereof, at any time and for any reason. The amendment, suspension or termination of the Plan shall not, without the consent of the Participant, alter or impair any rights or obligations under any Target Award theretofore granted
to such Participant. No award may be granted during any period of suspension or after termination of the Plan. 
 7.2
Duration of the Plan. The Plan shall commence on the date specified herein, and subject to Section 7.1 (regarding the Board or the Committee’s right to amend or terminate the Plan), shall remain in effect until the 2016 Annual
General Meeting of Shareholders. 

  
 6 

 SECTION 8 
 LEGAL CONSTRUCTION 
 8.1 Gender and Number. Except where
otherwise indicated by the context, any masculine term used herein also shall include the feminine; the plural shall include the singular and the singular shall include the plural. 

8.2 Severability. In the event any provision of the Plan shall be held illegal or invalid for any reason, the illegality or
invalidity shall not affect the remaining parts of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid provision had not been included. 
 8.3 Requirements of Law. The granting of awards under the Plan shall be subject to all applicable laws, rules and regulations, and to such approvals by any governmental agencies or national
securities exchanges as may be required. 
 8.4 Governing Law. The Plan and all awards shall be construed in
accordance with and governed by the laws of the State of California, but without regard to its conflict of law provisions. 

8.5 Captions. Captions are provided herein for convenience only, and shall not serve as a basis for interpretation or
construction of the Plan. 
 8.6 Code Section 409A. It is intended that this Plan comply with, or be exempt from,
Section 409A and any ambiguities herein will be interpreted to so comply and/or be exempt from Section 409A. The Company and each Participant will work together in good faith to consider either (i) amendments to the Plan; or
(ii) revisions to the Plan with respect to the payment of any awards, which are necessary or appropriate to avoid imposition of any additional tax or income recognition prior to the actual payment to the Participant under Section 409A. In
no event will the Company reimburse a Participant for any taxes that may be imposed on the Participant as a result of Section 409A. 

  
 7

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