Family Dollar 2006 Annual Report Download - page 107

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Exhibit 10.50
Compensation Arrangement with Named Executive Officers
At its meeting held on October 3, 2006, the Compensation Committee approved annual compensation packages for the
Company’s executive officers who are expected to be included in the summary compensation table in the Company’s proxy statement
for the Annual Meeting, and for those officers who were named executive officers as of the filing of the Company’s last proxy
statement (the “named executive officers”), as follows:
Target Bonus Target Performance Share Grants
Base Salary Percentage Stock Options 1−year 3−year
Howard R. Levine $ 800,000 100% 150,000 12,500 37,500
R. James Kelly $ 600,000 75% 110,000 9,167 27,500
Robert George $ 375,000 50% 21,845 2,229 6,687
Charles S. Gibson, Jr. $ 340,000 50% 21,340 2,178 6,532
Dorlisa K. Flur $ 325,000 40% 14,528 1,483 4,447
Janet G. Kelley $ 300,000 40% 11,746 1,199 3,595
The foregoing does not constitute a complete summary of the compensation terms of the above named executive officers
and reference is made to the following Company plans with respect to various aspects of the compensation packages awarded to each
named executive officer: (i) Family Dollar Stores, Inc. 2006 Incentive Plan, (ii) Family Dollar Stores, Inc. 2006 Incentive Plan
Guidelines for Long−Term Incentive Performance Share Rights Awards , (iii) Family Dollar Stores, Inc. 2006 Incentive Plan 2006
Non−Qualified Stock Option Grant Program (filed as Exhibits 10.1, 10.2, and 10.3, respectively, to the Company’s Form 8−K filed
with the SEC on January 25, 2006) and (iv) the Cash Bonus Award Guidelines attached hereto as Exhibit 10.
Reference is also made to (i) the employment agreements between the Company and Messrs. Levine and Kelly, which have
been filed previously as Exhibits 10.2 and 10.3, respectively, to the Company’s report on Form 8−K filed with the SEC on August 24,
2005 (along with amendments to such agreements, filed as Exhibits 10.2 and 10.3 to the Company’s report on Form 8−K filed with
the SEC on August 21, 2006), (ii) the Employment Agreement between the Company and Mr. George, filed as Exhibit 10 to the
Company’s report on Form 8−K filed with the SEC on November 25, 2005, and (iii) the Employment Agreement between the
Company and Mr. Gibson, filed as Exhibit 10.32 to the Company’s Form 10−K filed with the SEC on November 7, 2005.
1
Source: FAMILY DOLLAR STORES, 10−K, March 28, 2007