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ANNUAL REPORT PURSUANT TO
SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
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¨
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TRANSITION
REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
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A.
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Full
title of the plan and the address of the plan, if different from that of
the issuer named below:
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B.
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Name
of issuer of the securities held pursuant to the plan the address of its
principal executive office:
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Index to Financial Statements and Supplemental Information
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Page
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Report
of Independent Registered Public Accounting Firm
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3
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Financial
Statements
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Statement
of Net Assets Available for Benefits at December 31, 2009 and
2008
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4
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Statement
of Changes in Net Assets Available for Benefits for the Year Ended
December 31, 2009
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5
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Notes
to Financial Statements
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6-13
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Supplemental
Information
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Schedule
H, line 4i – Schedule of Assets (Held at End of Year) at December 31,
2009
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14
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Exhibits
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Exhibit
23: Consent of Independent Registered Public Accounting
Firm
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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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/s/
PricewaterhouseCoopers, LLP
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Detroit,
Michigan
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June
4, 2010
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As of December 31,
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||||||||
2009
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2008
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|||||||
Assets
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Investments,
at fair value (see Note 4)
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$ | 117,345,398 | $ | 98,671,637 | ||||
Employee
contributions receivable
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51,179 | 133,690 | ||||||
Employer
contributions receivable
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19,147 | — | ||||||
Assets
available for benefits
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117,415,724 | 98,805,327 | ||||||
Liabilities
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||||||||
Excess
contributions payable to participants
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151,795 | 85,971 | ||||||
Total
net assets available for benefits
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$ | 117,263,929 | $ | 98,719,356 |
For the Year Ended
December 31, 2009
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Additions:
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Investment
income:
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Net
appreciation in fair value of investments
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$ | 25,386,781 | ||
Interest
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2,575,720 | |||
Net
investment income
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27,962,501 | |||
Contributions:
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||||
Participant
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6,327,771 | |||
Employer
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19,336 | |||
Rollovers
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37,517 | |||
Total
contributions
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6,384,624 | |||
Total
additions
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34,347,125 | |||
Deductions:
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Benefits
paid to participants
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15,771,954 | |||
Administrative
expense
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30,598 | |||
Total
deductions
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15,802,552 | |||
Net
increase
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18,544,573 | |||
Net
assets available for benefits:
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Beginning
of year
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98,719,356 | |||
End
of year
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$ | 117,263,929 |
a)
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participants
are permitted to make elective participant compensation deferral
contributions in an amount up to ninety-nine percent of eligible
compensation, not to exceed $16,500 in 2009. All employees who are
eligible to make salary deductions under this Plan and who have attained
age 50 before the close of the Plan Year shall be eligible to make
catch-up contributions in accordance with, and subject to the limitations
of, Code Section 414(v), which were limited to $5,500 in
2009;
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b)
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the
Plan provides for employer matching contributions. Supplemental employer
matching contributions, based upon a number of factors including age,
years of service, employee classification (factory hourly, factory
supervisor, executive, salaried, office hourly) and division of the
Company, are provided for in the
Plan;
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c)
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any
forfeiture restoration amounts for participants with breaks in service;
and
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d)
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amounts
that participants have the ability, under certain circumstances, to
contribute that have been received as distributions from pension benefit
plans or “rollovers” from selected eligible individual retirement
arrangements.
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a)
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99%
of the eligible compensation of the participant during the plan year;
or
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b)
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the
aggregate individual participant limitations set forth under Section 415
of the Internal Revenue Code
("IRC").
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a)
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lump
sum payment; or
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b)
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payments
over a period certain in monthly installments. The period over which
such payment is to be made shall not extend beyond the earlier of the
participant's life expectancy (or the life expectancy of the Participant
and the Participant's designated Beneficiary) or the limited distribution
period provided for in section 7.5(b) of the
Plan.
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December 31,
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||||||||
2009
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2008
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Fidelity
Investments Freedom Funds
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$ | 18,351,257 | $ | 14,458,222 | ||||
JPMorgan
Core Bond Fund
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17,410,066 | 16,743,075 | ||||||
Putnam
Money Market Fund
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14,071,063 | 16,381,155 | ||||||
La-Z-Boy
Incorporated common stock
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11,247,597 | 3,063,526 | ||||||
Van
Kampen Growth Fund
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10,217,758 | 7,003,415 | ||||||
S&P
500 Index Fund
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8,750,731 | 7,555,624 | ||||||
Harbor
Capital International Fund
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8,447,436 | 6,594,386 | ||||||
Vanguard
Wellington
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7,553,312 | 6,616,788 |
Mutual
funds
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$
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16,278,512
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La-Z-Boy
Incorporated common stock
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9,108,269
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$
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25,386,781
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Level 1
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Level 2
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Level 3
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Total
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Mutual
Funds
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$ | 98,771,359 | $ | — | $ | — | $ | 98,771,359 | ||||||||
Common
Stock
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11,247,597 | — | — | 11,247,597 | ||||||||||||
Participant
Loans
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— | — | 7,326,442 | 7,326,442 | ||||||||||||
Total
assets at fair value
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$ | 110,018,956 | $ | — | $ | 7,326,442 | $ | 117,345,398 |
Participant Loans
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Balance,
beginning of year
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$ | 8,465,821 | ||
Interest
on loans
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539,677 | |||
Loan
issuance
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3,456,048 | |||
Loan
repayments
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(3,989,297 | ) | ||
Deemed
distributions
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(1,145,807 | ) | ||
Balance,
end of year
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$ | 7,326,442 |
(a)
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(b)
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(c)
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(d)
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(c)
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Identity of Issuer, Borrower, or Similar Party
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Description of Investment
Including Maturity Date, Rate of
Interest, Collateral, Par or
Maturity Value and Number of
Shares Outstanding
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Cost**
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Current Value
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*
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La-Z-Boy
Incorporated Common Stock
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1,180,231 | $ | 11,247,597 | ||||||
JPMorgan
Core Bond Fund
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1,567,063 | 17,410,066 | ||||||||
Putnam
Money Market Fund
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14,071,063 | 14,071,063 | ||||||||
Van
Kampen Growth Fund
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437,217 | 10,217,758 | ||||||||
Fidelity
Investments Freedom Funds
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1,717,264 | 18,351,257 | ||||||||
S&P
500 Index Fund
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280,922 | 8,750,731 | ||||||||
Harbor
Capital International Fund
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153,954 | 8,447,436 | ||||||||
*
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Participant
Loans
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Participant
loans carrying an,
interest
rate of 4.25% to 10%
and
maturity dates ranging
from
2010-2022
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7,326,442 | |||||||
T.
Rowe Price Blue Chip Growth Fund
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138,675 | 4,548,525 | ||||||||
Putnam
Equity Income Fund
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285,900 | 3,888,244 | ||||||||
Victory/Diversified
Stock Fund
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237,702 | 3,323,067 | ||||||||
Lord
Abbott Mid Cap Value Fund
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168,181 | 2,209,899 | ||||||||
Vanguard
Wellington
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151,612 | 7,553,313 | ||||||||
$ | 117,345,398 |
LA-Z-BOY
INCORPORATED
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RETIREMENT
SAVINGS PLAN
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By
La-Z-Boy Incorporated
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Plan
Administrator
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Date:
June 4, 2010
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BY:
/s/ Margaret L. Mueller
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Margaret
L. Mueller
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Corporate
Controller On behalf of
the
registrant and as Chief
Accounting
Officer
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