FDO » Topics » What perquisites does the Company offer to its executives?

This excerpt taken from the FDO DEF 14A filed Dec 11, 2009.

What perquisites does the Company offer to its executives?

NEOs (along with selected other senior executives) participate in a Medical Expense Reimbursement Plan and are offered executive disability insurance coverage paid by the Company. Pursuant to his employment agreement, Mr. Levine also is entitled to non-exclusive personal use of the Company’s aircraft, subject to certain limits established by the Compensation Committee each year and is provided with personal umbrella liability insurance coverage. For fiscal 2009, the Board limited Mr. Levine’s personal use of the Company’s aircraft to 70 hours, of which Mr. Levine used approximately 40 hours. Mr. Levine’s personal use of the Company’s aircraft is reviewed annually by the Compensation Committee and is considered by the Compensation Committee in setting Mr. Levine’s Total Direct Compensation each year.

We believe that the perquisites offered by the Company are minimal in cost and necessary to attract and retain talented executives, as many of our competitors offer similar benefits. With the exception of Mr. Levine’s use of the Company’s aircraft, we do not offer NEOs any perquisites other than those benefits generally available to all of our Team Members, except as further described in Note 4 to the “Summary Compensation Table” in this Proxy Statement. Accordingly, we view these perquisites as reasonable and necessary to our compensation program.

This excerpt taken from the FDO DEF 14A filed Dec 12, 2008.

What perquisites does the Company offer to its executives?

NEOs (along with selected other senior executives) participate in a Medical Expense Reimbursement Plan and are offered executive disability insurance coverage paid by Family Dollar. Pursuant to his employment agreement, Mr. Levine also is entitled to non-exclusive personal use of the Company’s aircraft, subject to certain limits established by the Compensation Committee each year and is provided with personal umbrella liability insurance coverage. For the 2008 fiscal year, the Board limited Mr. Levine’s personal use of the Company’s aircraft to 70 hours, of which Mr. Levine used approximately 53 hours. Mr. Levine’s personal use of the Company’s aircraft is reviewed annually by the Committee and is considered by the Committee in setting Mr. Levine’s Total Direct Compensation each year.

We believe that the perquisites offered by Family Dollar are minimal in cost and necessary to attract and retain talented executives because many of our competitors offer similar benefits. With the exception of Mr. Levine’s use of the Company’s aircraft, we do not offer NEOs any perquisites other than those benefits generally available to all of our Associates, except as further described in Note 4 to the “Summary Compensation Table” in this Proxy Statement. Accordingly, we view these perquisites as reasonable and necessary to our compensation program.

This excerpt taken from the FDO DEF 14A filed Dec 5, 2007.

What perquisites does the Company offer to its executives?

NEOs (along with selected other senior executives) participate in a Medical Expense Reimbursement Plan and are offered executive disability insurance coverage paid by Family Dollar. Pursuant to his employment agreement, Mr. Levine also is entitled to non-exclusive personal use of Family Dollar aircraft, subject to certain limits established by the Board each year. For the 2007 fiscal year, the Board limited Mr. Levine’s personal use of Family Dollar aircraft to 70 hours, of which Mr. Levine used 45 hours. Mr. Levine’s personal use of Family Dollar aircraft is reviewed annually by the Committee and is considered by the Committee in setting Mr. Levine’s Total Direct Compensation each year.

We believe the perquisites offered by Family Dollar are minimal in cost and necessary to attract and retain talented executives because many of our competitors offer similar benefits. With the exception of Mr. Levine’s use of our aircraft, we do not offer NEOs any perquisites other than those benefits generally available to all of our Associates, except as further described in Note 5 to the “Summary Compensation Table” in this Proxy Statement. Accordingly, we view these perquisites as reasonable and necessary to our compensation program.

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