x
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ANNUAL
REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
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o
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TRANSITION
REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
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Page
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REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
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1
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FINANCIAL
STATEMENTS:
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Statements
of Net Assets Available for Benefits as of December 31, 2009 and
2008
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2
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Statement
of Changes in Net Assets Available for Benefits for the
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Year
Ended December 31, 2009
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3
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Notes
to Financial Statements as of December 31, 2009 and 2008, and for
the
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Year
Ended December 31, 2009
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4–12
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SUPPLEMENTAL
SCHEDULE —
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Form
5500, Schedule H, Line 4i — Schedule of Assets (Held at End of
Year)
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as
of December 31, 2009
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14
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NOTE:
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All
other schedules required by Section 2520.103-10 of the Department of
Labor’s Rules and Regulations for Reporting and Disclosure under the
Employee Retirement Income Security Act of 1974 have been omitted because
they are not applicable
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2009
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2008
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|||||||
ASSETS:
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||||||||
Participant-directed
investments — at fair value
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$ | 4,887,912 | $ | 3,874,878 | ||||
Contributions
receivable:
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||||||||
Employee
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4,395 | - | ||||||
Total
contributions receivable
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4,395 | - | ||||||
NET
ASSETS AVAILABLE FOR BENEFITS AT FAIR VALUE
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4,892,307 | 3,874,878 | ||||||
Adjustments
from fair value to contract value for fully
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||||||||
benefit-responsive
investment contracts
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(39,324 | ) | 10,908 | |||||
NET
ASSETS AVAILABLE FOR BENEFITS
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$ | 4,852,983 | $ | 3,885,786 |
ADDITIONS:
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||||
Employee
contributions
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$ | 211,819 | ||
Employer
paid VCP settlement charges
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2,503 | |||
Investment
income
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83,647 | |||
Net
appreciation in fair value of investments
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717,792 | |||
Total
additions
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1,015,761 | |||
DEDUCTIONS:
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||||
Benefit
payments
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47,164 | |||
Administrative
expenses
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1,400 | |||
Total
deductions
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48,564 | |||
INCREASE
IN NET ASSETS AVAILABLE FOR BENEFITS
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967,197 | |||
NET
ASSETS AVAILABLE FOR BENEFITS — Beginning of year
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3,885,786 | |||
NET
ASSETS AVAILABLE FOR BENEFITS — End of year
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$ | 4,852,983 |
1.
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DESCRIPTION
OF THE PLAN
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2.
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SIGNIFICANT
ACCOUNTING POLICIES
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3.
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FAIR
VALUE MEASUREMENTS
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December
31,
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|||||||||
2009
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2008
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||||||||
Level
1:
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|||||||||
Mutual
Funds:
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|||||||||
T.
Rowe Price
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Retirement
2025
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$ | 408,381 | $ | 294,488 | ||||
T.
Rowe Price
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Retirement
2020
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366,166 | 293,083 | ||||||
T.
Rowe Price
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Retirement
2015
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291,240 | 227,488 | ||||||
T.
Rowe Price
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Retirement
2030
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228,809 | 160,612 | ||||||
T.
Rowe Price
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Retirement
2010
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154,598 | 139,575 | ||||||
T.
Rowe Price
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International
Equity Index Fund
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88,446 | 48,430 | ||||||
T.
Rowe Price
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Retirement
2035
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58,036 | 40,604 | ||||||
T.
Rowe Price
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Retirement
2040
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30,772 | 26,127 | ||||||
T.
Rowe Price
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Extended
Equity Market Index Fund
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11,142 | 14,419 | ||||||
T.
Rowe Price
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Retirement
2005
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6,850 | 5,500 | ||||||
T.
Rowe Price
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Retirement
Income Fund
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2,859 | 2,342 | ||||||
T.
Rowe Price
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Retirement
2045
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1,189 | 1,176 | ||||||
Dodge
& Cox
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Balanced
Fund
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446,766 | 315,204 | ||||||
Vanguard
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Instl
Index Fund
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268,702 | 178,064 | ||||||
Pimco
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Total
Return Inst Fund
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104,791 | 57,133 | ||||||
Vanguard
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Small-Cap
Index Fund
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38,892 | 29,332 | ||||||
Total
mutual funds
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2,507,639 | 1,833,577 | |||||||
Custom
Funds:
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|||||||||
Northern
Trust Global Advisors
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Large-Cap
Growth Fund
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243,826 | 154,089 | ||||||
Northern
Trust Global Advisors
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International
Equity Fund
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76,540 | 68,599 | ||||||
Northern
Trust Global Advisors
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Mid-Cap
Fund
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73,822 | 65,218 | ||||||
Northern
Trust Global Advisors
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Small-Cap
Fund
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40,675 | 33,961 | ||||||
Northern
Trust Global Advisors
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Large-Cap
Value Fund
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47,870 | 29,695 | ||||||
Total
custom funds
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482,733 | 351,562 | |||||||
Company
Stock Fund
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|||||||||
Rite
Aid Corporation
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Company
Stock Fund
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1,437 | 584 | ||||||
Total
Level 1
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2,991,809 | 2,185,723 | |||||||
Level
2:
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|||||||||
Stable
Value Fund Synthetic
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|||||||||
Guaranteed
Investment Contract
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|||||||||
Prudential
and T. Rowe Price
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Stable
Value Fund
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1,498,929 | 1,434,483 | ||||||
Common
and collective trust
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|||||||||
T.
Rowe Price
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Bond
Index Trust
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706 | 4,042 | ||||||
Total
Level 2
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1,499,635 | 1,438,525 | |||||||
Level
3:
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|||||||||
Participant
notes
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Loan
Fund
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396,468 | 250,630 | ||||||
Total
Level 3
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396,468 | 250,630 | |||||||
Total
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$ | 4,887,912 | $ | 3,874,878 |
For the Year Ended
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Participant
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Total
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||||||
December 31, 2008
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Notes Receivable
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Fair Value
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||||||
Beginning
balance
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$ | 222,520 | $ | 222,520 | ||||
Total
gains or losses (realized/unrealized)
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– | – | ||||||
Purchases,
sales, issuances and settlements — net
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28,110 | 28,110 | ||||||
Transfers
in and/or out of Level 3
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– | – | ||||||
Ending
balance
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$ | 250,630 | $ | 250,630 | ||||
For
the Year Ended
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Participant
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Total
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||||||
December
31, 2009
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Notes
Receivable
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Fair
Value
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||||||
Beginning
balance
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$ | 250,630 | $ | 250,630 | ||||
Total
gains or losses (realized/unrealized)
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– | – | ||||||
Purchases,
sales, issuances and settlements — net
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145,838 | 145,838 | ||||||
Transfers
in and/or out of Level 3
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– | – | ||||||
Ending
balance
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$ | 396,468 | $ | 396,468 |
4.
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SYNTHETIC
GUARANTEED INVESTMENT CONTRACT
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2009
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2008
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|||||||
Average
yields:
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||||||||
Based
on annualized earnings (1)
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4.02 | % | 4.80 | % | ||||
Based
on interest rate credited to participants (2)
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4.43 | 4.25 |
(1)
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Computed
by dividing the annualized one-day actual earnings of the contract on the
last day of the Plan year by the fair value of the investments on the same
date.
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(2)
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Computed
by dividing the annualized one-day earnings credited to participants on
the last day of the Plan year by the fair value of the investments on the
same date.
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5.
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INVESTMENTS
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2009
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2008
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Stable
Value Fund
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$ | 1,498,929 | $ | 1,434,483 | ||||
Dodge
& Cox Balanced Fund
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446,766 | 315,204 | ||||||
T.
Rowe Price Retirement 2025
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408,381 | 294,488 | ||||||
Participant
Loan Fund
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396,468 | 250,630 | ||||||
T.
Rowe Price Retirement 2020
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366,166 | 293,083 | ||||||
T.
Rowe Price Retirement 2015
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291,240 | 227,488 | ||||||
Vanguard
Institutional Index Fund
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268,702 | 178,064 | ||||||
Northern
Trust Global Advisors Large-Cap Growth Fund
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** | 154,089 |
Investments:
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Rite
Aid corporate stock
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$ | 1,956 | ||
Mutual
funds
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534,057 | |||
Custom
funds
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115,912 | |||
Common
and collective trusts
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201 | |||
Stable
value funds
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65,666 | |||
Net
appreciation in fair value of investments
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$ | 717,792 |
6.
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TAX
STATUS
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7.
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PLAN
TERMINATION
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8.
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PARTY-IN-INTEREST
TRANSACTIONS
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9.
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CONTINGENCY
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10.
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RECONCILIATION
OF FINANCIALS TO FORM 5500
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Net
assets available for benefits per the financial statements at contract
value
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$ | 4,852,983 | ||
Adjustment
from contract value to fair value for fully benefit-responsive investment
contracts
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39,324 | |||
Net
assets available for benefits per Form 5500, Schedule H, Part I (line
L)
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$ | 4,892,307 |
Total
contributions
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$ | 211,819 | ||
Employer
paid VCP settlement charges
|
2,503 | |||
Total
investment income
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83,647 | |||
Net
appreciation in fair value of investments
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717,792 | |||
Prior
year adjustment from fair value to contract value for
fully
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||||
benefit-responsive investment contracts
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10,908 | |||
Current
year adjustment from fair value to contract value for
fully
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||||
benefit-responsive investment contracts
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39,324 | |||
Total
gain per Form 5500, Schedule H, Part II (line 2d)
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$ | 1,065,993 |
At
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|||||||||
Identity of Issuer, Borrower,
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Number
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Fair Market
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|||||||
Lessor or Similar Party and Description
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of Shares
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Value
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|||||||
Common
and collective trust:
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*T.
Rowe Price
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Bond
Index Trust
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25 | $ | 706 | |||||
Total
common and collective trust
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706 | ||||||||
Mutual
Funds:
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*T.
Rowe Price
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Retirement
2025
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38,490 | 408,381 | ||||||
*T.
Rowe Price
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Retirement
2020
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25,080 | 366,166 | ||||||
*T.
Rowe Price
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Retirement
2015
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27,295 | 291,240 | ||||||
*T.
Rowe Price
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Retirement
2030
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15,133 | 228,809 | ||||||
*T.
Rowe Price
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Retirement
2010
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11,082 | 154,598 | ||||||
*T.
Rowe Price
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International
Equity Index Fund
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7,954 | 88,446 | ||||||
*T.
Rowe Price
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Retirement
2035
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5,449 | 58,036 | ||||||
*T.
Rowe Price
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Retirement
2040
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2,031 | 30,772 | ||||||
*T.
Rowe Price
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Extended
Equity Market Index Fund
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869 | 11,142 | ||||||
*T.
Rowe Price
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Retirement
2005
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656 | 6,850 | ||||||
*T.
Rowe Price
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Retirement
Income Fund
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234 | 2,859 | ||||||
*T.
Rowe Price
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Retirement
2045
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118 | 1,189 | ||||||
Dodge
& Cox
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Balanced
Fund
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6,977 | 446,766 | ||||||
Vanguard
|
Instl
Index Fund
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2,635 | 268,702 | ||||||
Pimco
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Total
Return Inst Fund
|
9,703 | 104,791 | ||||||
Vanguard
|
Small-Cap
Index Fund
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1,414 | 38,892 | ||||||
Total
mutual funds
|
2,507,639 | ||||||||
Custom
Funds:
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|||||||||
Northern
Trust Global Advisors
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Large-Cap
Growth Fund
|
21,809 | 243,826 | ||||||
Northern
Trust Global Advisors
|
International
Equity Fund
|
4,980 | 76,540 | ||||||
Northern
Trust Global Advisors
|
Mid-Cap
Fund
|
5,732 | 73,822 | ||||||
Northern
Trust Global Advisors
|
Small-Cap
Fund
|
2,924 | 40,675 | ||||||
Northern
Trust Global Advisors
|
Large-Cap
Value Fund
|
4,305 | 47,870 | ||||||
Total
custom funds
|
482,733 | ||||||||
Stable
Value Fund Synthetic
|
|||||||||
Guaranteed
Investment Contract:
|
|||||||||
Prudential
and *T. Rowe Price
|
Stable
Value Fund
|
113,235 | 1,498,929 | ||||||
Total
Stable Value Fund Synthetic Guaranteed Investment Contract
|
1,498,929 | ||||||||
Company
Stock Fund:
|
|||||||||
*Rite
Aid Corporation
|
Company
Stock Fund
|
952 | 1,437 | ||||||
*Participant
notes
|
Loan
Fund**
|
396,468 | |||||||
Total
Assets Held at End of Year
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$ | 4,887,912 |
RITE
AID SERVICES, L.L.C. 401(k) PLAN
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By:
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/s/ Kenneth Black
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Kenneth
Black, not in his individual capacity, but solely
as
an authorized signatory for the Employee Benefits
Administration
Committee
|
Exhibit
Number
|
Description
|
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23.1
|
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Consent
of Independent Registered Public Accounting
Firm
|