Dollar General 2006 Annual Report Download - page 112
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• Generally, total compensation should be targeted at the median total compensation of
comparable positions at peer companies. However, because comparisons
occasionally can be difficult due to the unique job description of some of our officers
and the unique niche we play in the retail sector, the Committee may fairly account
for distinct circumstances not reflected in the market data. In addition, competition
for new talent may require total compensation, or any component of total
compensation, to exceed the median.
• Base salary should be reflective of the responsibilities of the position, the experience
and contributions of the individual and the salaries for comparable positions in the
competitive marketplace. The base salaries of our NEOs are subject to minimums set
forth in their employment agreements.
• Compensation arrangements shall emphasize pay for performance and encourage
retention of those officers who enhance our performance.
• Compensation arrangements shall promote ownership of our common stock to align
the interests of management and shareholders.
• Compensation arrangements shall maintain an appropriate balance between base
salary and long-term and annual incentive compensation.
• In approving compensation, the recent compensation history of the officer, including
special or unusual compensation payments, shall be taken into consideration.
• Cash incentive compensation plans for officers shall link pay to achievement of
financial goals set in advance by the Committee. Awards of incentive bonuses
generally should be based on achieving corporate goals and on a subjective evaluation
of the contributions of individual executives to the achievement of our business goals.
The Committee re-evaluates its compensation philosophy and principles at least annually,
typically several months in advance of the annual executive compensation review.
Does the Committee use compensation consultants in determining or recommending the
amount or form of executive and director compensation?
The Committee believes that it is important to have the most timely, accurate and
insightful compensation advice and information that is available from independent sources.
These sources may include Committee members’ experiences in an executive role with other
organizations, presentations by compensation consultants to other compensation committees on
which Committee members may serve, information contained in professional literature regarding
compensation-related topics, and various other sources that Committee members may encounter.
The Committee uses these independent sources to provide a frame of reference within which it
can evaluate, in an informed manner, the advice given and recommendations made to the
Committee in connection with our specific compensation decisions.
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