Dollar General 2007 Annual Report Download - page 158
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156
Narrative to Fiscal 2007 Director Compensation Table
The following discussion of fiscal 2007 director compensation encompasses
compensation of the director group who served before the Merger, as well as the director group
who served after the Merger. Each group can be identified by reference to the 1st footnote to the
Director Compensation Table above.
Prior to the Merger, we used a combination of cash and stock-based incentive
compensation to attract and retain qualified Board candidates. Subsequent to the Merger, our
compensation structure includes only cash. For both periods, we did not compensate for Board
service any director who was also a Dollar General employee.
Cash Compensation. Prior to the Merger, we paid non-employee directors two quarterly
installments of the annual cash retainer and the per meeting attendance fees set forth below. We
also paid two quarterly installments of the following additional annual retainers to each
committee chairman and to the Presiding Director.
Other Annual Retainers In-Person Meeting Attendance Fees
Annual
Cash
Retainer
Audit
Committee
Chairman
Other
Committee
Chairman Presiding
Director Board
Meeting
Audit
Committee
Meeting Committee
Meeting
Telephonic
Meeting
Attendance
Fee
$35,000 $20,000 $10,000 $15,000 $1,250 $1,500 $1,250 $625
To assist in understanding the fees actually earned by each non-employee director prior
to the Merger, the following chart shows information regarding committee service and meeting
attendance of each pre-Merger director.
In-Person Meetings Attended
Name
# of
Committees
Chaired Presiding
Director Board Audit
Committee
Other
Committee
Meeting
Telephonic Meetings
Attended
(Board/Committee)
Mr. Bottorff 2 3 2 2 3
Ms. Bowles 1 3 2 1 5
Mr. Dickson - 2 - 1 2
Mr. Gee - 2 - 2 2
Ms. Knuckles - 3 - 1 -
Mr. Purcell - 3 2 - 4
Mr. Robbins 1 (Audit) 3 2 - 2
Mr. Thornburgh - 3 - - 3
Mr. Wilds 1 X 3 - 1 2
We reimbursed directors for certain fees and expenses incurred in connection with
continuing education seminars and travel expenses related to Dollar General meeting attendance
or requested appearances. We allowed directors (and spouses for no additional incremental cost)
to travel on the Dollar General airplane for those purposes.