Dollar General 2013 Annual Report Download - page 41
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The Committee established threshold (below which no bonus may be paid) and target
performance levels, discussed below, for the adjusted EBIT performance measure. From 2008 to 2013,
there was not a maximum level of financial performance associated with the Teamshare program, in
order to avoid possibly discouraging employees from striving to achieve performance results beyond
maximum levels. However, any individual payout was capped at the Amended and Restated Annual
Incentive Plan limit (which was $10 million for 2013 in accordance with Section 162(m) of the Internal
Revenue Code).
The target adjusted EBIT performance level for the 2013 Teamshare program was
$1.849 billion which, consistent with prior practice, was the same level as our 2013 annual financial plan
objective. As it had done since 2008 for adjusted EBITDA, the Committee also established the adjusted
EBIT financial performance threshold at 95% of target.
The bonus payable to each named executive officer if we reached the 2013 target performance
level for the adjusted EBIT financial performance measure was equal to the applicable target
percentage, as set forth in the chart below, of the applicable salary. For all named executive officers
except Mr. Vasos, such percentages are consistent with those for the prior year. The target payout
percentage of salary for Mr. Vasos was increased from 65% to 80% in connection with his promotion
to Chief Operating Officer in November 2013 (prorated for the portion of fiscal year 2013 that he
served as Chief Operating Officer) in order to align with the median range of the market comparator
group data for the comparable position. In addition, for all named executive officers except
Messrs. Dreiling (for whom the market value was not blended) and Vasos (for whom the market value
was not blended for his 80% target percentage payout), such percentages reflect a blend of the
approximate median of the payout percentages for the market comparator group. Mr. Dreiling’s
employment agreement with us requires minimum threshold (50%) and minimum target (125%) bonus
percentages, but in 2011 the Committee determined his target bonus percentage should be increased to
130% to more closely align Mr. Dreiling’s bonus target and total cash compensation with the median of
the market comparator group.
Name Target Payout Percentage
Mr. Dreiling 130%
Mr. Vasos 65/80%
Mr. Tehle 65%
Mr. Flanigan 65%
Mr. Sparks 65%
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