Dollar General 2006 Annual Report Download - page 154
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• the director is a current employee, or an immediate family member is a current
executive officer, of a lender if the highest amount of our aggregate indebtedness to
the lender outstanding during our fiscal year does not exceed the greater of $1 million
or 2% of the lender’ s total consolidated assets as of its last completed fiscal year; or
• the director or an immediate family member directly or indirectly owns less than 10%
of any class of securities of a vendor if:
√ the amount we pay to the vendor or that the vendor pays to us in any of the
vendor’ s last 3 fiscal years does not exceed the greater of $1 million or 2%
of the vendor’ s consolidated gross revenues; and
√ in the case of a lender, the highest amount of our aggregate indebtedness
to the lender outstanding during our fiscal year does not exceed the greater
of $1 million or 2% of the lender’ s total consolidated assets as of its last
completed fiscal year;
provided, however, that these transaction limits do not apply in the case of ownership
of less than 1% of a publicly held vendor, which in all cases is deemed immaterial.
Certain Relationships with Non-Profit Entities. A director’ s independence is not
impaired by the existence of any of the relationships listed below:
• the director is a current employee, or an immediate family member is a current
executive officer, of a tax-exempt entity to which we make donations if the amount
donated in the entity’ s last fiscal year does not exceed the lesser of $120,000 or 2% of
the entity’ s consolidated gross revenues;
• an immediate family member is employed in a capacity other than an executive
officer by a tax-exempt entity to which we make donations if the amount donated in
the entity’ s last fiscal year does not exceed the greater of $1 million or 2% of the
entity’ s consolidated gross revenues; or
• the director or an immediate family member serves as a director or trustee of a tax-
exempt entity to which we make donations if the amount donated in the entity’ s last
fiscal year does not exceed the greater of $1 million or 2% of the entity’ s
consolidated gross revenues. In addition, simultaneous service by a director or an
immediate family member and a member of our management team or an immediate
family member on the board of a tax-exempt entity will not preclude a director’s
independence.
Certain Relationships with Auditors. A director’ s independence is not impaired by the
existence of a prior relationship with our independent auditing firm or a current relationship
between an immediate family member and that auditing firm as long as:
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