Dollar General 2006 Annual Report Download - page 144
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Please find page 144 of the 2006 Dollar General annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
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• Attendance at work in a state of intoxication or in possession of any prohibited drug
or substance which would amount to a criminal offense; or
• Assault or other act of violence (with respect to Mr. Perdue, occurring in the course
of employment).
In addition to the reasons identified above, for purposes of the NEOs other than Mr.
Perdue, “cause” means (as more fully described in the applicable employment agreement):
• any act involving fraud or dishonesty;
• any material breach of any SEC or other law or regulation or any Dollar General
policy governing securities trading or inappropriate disclosure or “tipping”;
• any activity or public statement, other than as required by law, that prejudices Dollar
General or reduces our good name and standing or would bring Dollar General into
public contempt or ridicule; or
• conviction of, or plea of guilty or nolo contendre to, any felony whatsoever or any
misdemeanor that would preclude employment under our hiring policy.
In addition to the reasons identified in the first paragraph above applicable to all NEOs
(including Mr. Perdue), for Mr. Perdue “cause” means any of the reasons below, as determined
by at least 3/4 of our entire Board after giving Mr. Perdue and his attorney an opportunity to
respond (and as more fully explained in his employment agreement):
• any act involving fraud or a violation of securities trading regulations or any act
resulting in an SEC investigation which, in each case, the Board determines
materially adversely affects us or Mr. Perdue’ s ability to perform his duties;
• conviction of any felony or misdemeanor involving moral turpitude; or
• with limited exceptions, Mr. Perdue’ s continued failure to perform substantially his
duties after receipt of written demand by the Board for substantial performance.
For purposes of determining treatment of an NEO’ s equity awards, “cause” means, to the
extent that our Compensation Committee determines that it is directly and materially harmful to
our business or reputation:
• a felony conviction or the failure to contest prosecution of a felony; or
• willful misconduct or dishonesty.
Involuntary Termination for Cause. In the event the NEO is involuntarily terminated for
cause, in addition to the items identified under “Payments Regardless of Manner of Termination”
above, all unvested equity grants, as well as all vested but unexercised stock options, will be
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