Dollar General 2008 Annual Report Download - page 164
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162
We also transferred to Ms. Lowe the title to her Company-provided vehicle (valued at
$32,650), and we extended to her and her eligible dependents coverage under our health benefits
plan from the date of her termination through December 31, 2008. Ms. Lowe paid 100% of the
premium costs of such extended insurance coverage.
Mr. Buley and Ms. Lowe are subject to the Continuing Obligations set forth under
“Voluntary Termination with Good Reason or After Failure to Renew the Employment
Agreement” above. However, because all severance amounts have been paid to Mr. Buley and
Ms. Lowe in full, we will have no right to recoup those payments in the event either such person
breaches any of the Continuing Obligations.
Potential Payments to Named Executive Officers Upon Occurrence of Various Termination
Events
As of January 30, 2009
Name
Voluntary
Without
Good Reason
Involuntary
Without
Cause
or Voluntary
With Good
Reason
Involuntary
With Cause Death Disability Retirement
Change-in-
Control (1)
Richard W. Dreiling
Vested Options Prior to
Event
$375,000
$375,000
$375,000
$375,000
$375,000
$375,000
$375,000
Vesting of Options Due to
the Event N/A N/A N/A $250,000 $250,000 N/A $875,000
Vesting of Restricted Stock
Due to the Event
N/A
$4,895,000
N/A
$4,895,000
$4,895,000
N/A
$4,895,000
SERP Benefits Prior to the
Event
$0
$0
$0
$0
$0
$0
$0
SERP Benefits Due to the
Event
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Deferred Comp Plan Balance
Prior to and After the Event $8,254 $8,254 $8,254 $8,254 $8,254 $8,254 $8,254
Cash Severance
N/A
$6,176,300
N/A
N/A
$2,176,300
N/A
$6,176,300
Health and Welfare
Continuation(2) N/A $10,923 N/A N/A N/A N/A $10,923
Health and Welfare
Continuation Gross-Up
N/A
$14,851
N/A
N/A
N/A
N/A
$14,851
Outplacement(3)
N/A
$10,000
N/A
N/A
N/A
N/A
$10,000
Section 280(G) Excise Tax
and Gross-Up
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Life Insurance Proceeds N/A N/A N/A $2,500,000 N/A N/A N/A
Total
$383,254
$11,490,328
$383,254
$8,028,254
$7,704,554
$383,254
$12,365,328