Document:

Exhibit 10.2

DEFERRED COMPENSATION AGREEMENT

BETWEEN

GLOBAL PARTNERS LP AND THOMAS A. MCMANMON

This (the “Agreement”)
is entered into between Global GP LLC on behalf of Global Partners LP (the “Company”)
and Thomas A. McManmon, Jr.  (the “Executive”),
effective as of July 1, 2006 (the “Effective Date”).

WHEREAS, the
Executive presently serves as Executive Vice-President and Chief Financial
Officer of the Company and upon the Effective Date Executive will cease to hold
such position but will continue to provide valuable services to the Company;
and

WHEREAS, in
consideration of past and future services performed by the Executive, the
Company agrees to provide deferred and other compensation to the Executive,
payable in the amounts and on the terms and conditions set forth herein.

NOW THEREFORE, in
consideration of the mutual promises made herein, the Executive and the Company
hereby agree as follows:

1.     Deferred
Compensation.  The Company agrees to
pay to the Executive deferred compensation on the following terms and
conditions.

1.1   The
Company shall pay to the Executive the sum of $85,000 per year (the “Deferred
Compensation”) in equal monthly installments of $7,083.33, subject to
applicable withholding, on the first business day of each month for 15 years
(180 months) commencing on October 1, 2010, subject to earlier termination as
provided in this Agreement.

1.2   The
Deferred Compensation shall be forfeited in its entirety in the event that the
Company terminates the Executive’s employment for Cause or the Executive
terminates his employment for any reason other than death or Disability prior
to September 1, 2010.  On and after the
date on which Deferred Compensation payments commence hereunder, the Company
may terminate its obligations under this Agreement only for Cause.

1.3   In
the event that the Executive dies prior to having received the aggregate amount
of the Deferred Compensation payable under this Section 1, the Company shall
pay to his Beneficiary a single lump sum payment in an amount equal to the present value of
the remaining payments that would have been paid to the Executive had he not
died.  Such single lump sum payment shall
calculated by applying a discount rate equal to 120% of the “applicable federal
rate” as determined by the Internal Revenue Service for purposes of Section
1274(d) of the Internal Revenue Code of 1986, as amended (the “Code”) (or any
successor provision) which applies to the month in which such payment is made,
compounded annually (short-term, mid-term or long-term, as applicable), taking
into account the remaining payments through the end of the payment term.

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1.4   Confidential Information and
Restricted Activities.  The Executive
will be subject to the terms and conditions relating to confidential
information, non-solicitation and non-competition set forth in Exhibit A, which
is incorporated into this Agreement by reference.

2.     Definitions.  For purposes of this
Agreement, the following definitions apply:

3.1   “Affiliates”
means all Persons directly or indirectly controlling, controlled by or under
common control with the Company, where control may be by management authority,
equity interest or otherwise.

3.2   “Beneficiary”
means the Person or Persons designated by the Executive in writing to receive
the payment of Deferred Compensation in the event of the Executive’s
death.  The form of Beneficiary
designation is attached to this Agreement as Exhibit B.  Any Beneficiary designation shall be
effective only upon actual receipt by the Company.

3.3   “Cause” means Executive (a) commits
any serious or repeated breach of any of his obligations under this Agreement
after notice from the Company and a reasonable opportunity to cure, (b) is
guilty of egregious misconduct which, in the reasonable opinion of the Board of
Directors of the Company, has damaged or will damage the business or affairs of
the Company, (c) is convicted or pleads no contest to a felony of moral
turpitude or a felony the nature of which would reasonably be expected to have
a material adverse financial impact on the Company or its affiliates.

3.4   “Disability” means that the
Executive is unable to engage in any substantial gainful activity by reason of
any medically determinable physical or mental impairment which can be expected
to result in death or can be expected to last for a continuous period of not
less than 12 months, or if he is determined to be totally disabled by the
Social Security Administration, or if he is determined to be disabled in
accordance with the long-term disability plan, if any, of the Company in which
the Executive participates.

3.5   “Person” means an individual, a corporation, a limited
liability company, an association, a partnership, an estate, a trust or any
other entity or organization, other than the Company or any of its Affiliates.

4.     Amendment
and Termination.  This Agreement may
be amended or terminated only with the mutual written consent of the Company
and the Executive.

5.     Unsecured
Promise to Pay.  This Plan
constitutes an unfunded and non-qualified deferred compensation arrangement
between the Company and the Executive.  Neither the Executive nor any other person
shall have any interest in any specific asset or assets of the Company by
reason of any obligations hereunder nor any rights to payment of any Deferred
Compensation except as expressly provided hereunder.  The rights of the Executive and any
designated beneficiary are unsecured and shall be subject to the creditors of
the Company.

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6.     Incapacity.  If the Company shall receive evidence
satisfactory to it that Executive or any Beneficiary entitled to receive any benefit
under this Agreement is, at the time when such benefit becomes payable, a
minor, or is physically or mentally incompetent to give a valid release
therefor, and that another person or an institution is then maintaining or has
custody of such person, the Company may make payment(s) of benefits otherwise
payable to the Executive or Beneficiary, as the case may, to such other person
or institution, including
a custodian under a Uniform Gifts to Minors Act, or corresponding legislation
(who shall be a guardian of the minor or a trust company), and the release of
such other person or institution shall be a valid and complete discharge for
the payment of such benefit.

7.     Spendthrift Provision.  The Deferred Compensation shall not be
subject to anticipation, alienation, sale, transfer, assignment, pledge,
encumbrance, or charges and any attempt so to anticipate, alienate, sell,
transfer, assign, pledge, encumber or charge the same shall be void; nor shall
any portion of any such right hereunder be in any manner payable to any
assignee, receiver or trustee, or be liable for such person’s debts, contracts,
liabilities, engagements or torts, or be subject to any legal process to levy
upon or attach.

8.     Notices.  For purposes of this Plan, notices and all
other communications provided for in this Agreement shall be in writing and
shall be deemed to have been duly given when delivered personally or mailed by
United States registered or certified mail, return receipt requested, postage
prepaid, or by nationally recognized overnight delivery service, addressed to
the Executive at the home address set forth in the Company’s to the Company at
its principal place of business (attention: General Counsel) or to such other
address as either party may have furnished to the other in writing in
accordance herewith, except that notice of charge of address shall be effective
only upon receipt.

9.     Successors and Assigns.  This Agreement shall be applicable to, and
shall inure to the benefit of, the Company and their successors and assigns and
to the Executive and his heirs, executors, administrators and personal
representatives.

10.   Governing Law.  This Agreement shall continue in effect after
termination of my employment and shall be governed by and construed in
accordance with the laws of The Commonwealth of Massachusetts.

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11.   Consent
to Jurisdiction.  In the event of any
alleged breach of this Agreement which the parties are unable to settle by
mutual consultation, the Company and the Executive hereby consent and submit to
arbitration. Such arbitration shall take place in Boston, Massachusetts, unless
the parties otherwise mutually agree in writing, in accordance with the
employment rules under of American Arbitration Association (“AAA”) and under
the laws of The Commonwealth of Massachusetts. 
Unless otherwise required by law, the parties hereby agree to proceed
before one impartial arbitrator selected by mutual agreement of the parties.  Any demand for arbitration hereunder shall be
filed within a reasonable time after the controversy or claim has arisen, but
in no event later than the date when the institution of legal or equitable
proceedings based on the claim would be barred by the statute of limitations
under applicable law.  This arbitration
provision may be specifically enforced in any court of competent
jurisdiction.  Judgment upon the award
rendered by the arbitrator(s) may be entered in the federal and state courts in
and of The Commonwealth of Massachusetts.

12.   Remedies.  The Company and the Executive agree that
forfeiture of the Deferred Compensation shall serve as liquidated damages in
the event that the Executive breaches any of the provisions of this
Agreement.  The parties acknowledge that
actual damages will be difficult to ascertain and that such liquidated damages
represent the best estimate of such damages.

13.   Waiver
of Breach.  The waiver by the Company
or the Executive of a breach of any provision of this Agreement shall not
operate or be construed as a waiver of any subsequent breach.

14.   Entire
Agreement.  This Agreement
constitutes the entire agreement between the parties and supersedes all prior
agreements and understandings, whether written or oral, relating to the subject
matter of this Agreement.

IN WITNESS
WHEREOF, the Executive and the Company have executed this Agreement this 17th day of August, 2006.

	
  

  	
   

  	
  /s/ Thomas A. McManmon, Jr.

  
	
   

  	
   

  	
  Thomas A. McManmon, Jr.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  GLOBAL PARTNERS LP

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  GLOBAL GP LLC, its General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ Eric Slifka

  
	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Eric Slifka

  
	
   

  	
   

  	
  Title:

  	
  President & CEO

  

 

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EXHIBIT A

CONFIDENTIALITY AND RESTRICTED ACTIVITIES

Confidentiality

1.          During
the course of the Executive’s employment with the Company, he has and will
learn of Confidential Information, as defined below, and he may develop
Confidential Information on behalf of the Company.  Executive agrees that he will not use or
disclose to any Person (except as required by applicable law or for the proper
performance of your regular duties and responsibilities for the Company) any
Confidential Information obtained by him incident to his employment or any
other association with the Company or any of its Affiliates.  Executive understands that this restriction
shall continue to apply after his employment terminates, regardless of the
reason for such termination.

2.          All
documents, records and files, in any media of whatever kind and description,
relating to the business, present or otherwise, of the Company or any of its
Affiliates, and any copies, in whole or in part, thereof (the “Documents”),
whether or not prepared by Executive shall be the sole and exclusive property
of the Company. Executive agrees to safeguard all Documents and to surrender to
the Company, at the time his employment terminates or at such earlier time or
times as the CEO or his designee may specify, all Documents then in his
possession or control.

Non-Solicitation

3.          During
Executive’s employment, and until the date on which the Executive attains age
75, Executive will not and will not assist anyone else to (i) hire or attempt
to hire any employee of the Company, and (ii) encourage any employee of the
Company to discontinue employment or any former employee to become employed in
any business directly or indirectly competitive with the Company’s business;
provided, however, that Executive may hire or attempt to hire any
administrative assistant or secretary who does not, and has not, acted in any
managerial or executive capacity with the Company.

Non-Competition

4.          During Executive’s
employment and until the date on which the Executive attains age 72, except as
otherwise agreed to by the Company in writing, the Executive shall be
prohibited from working (as an employee, consultant, advisor, director or
otherwise) for, engaging in or acquiring or investing in any business having
assets engaged in the following businesses (the “Restricted Businesses”)
in New England and other jurisdictions in which the Company is conducting
business (“Restricted Geography”):  (i) wholesale marketing, sale, distribution and
transportation (other than transportation by truck) of refined petroleum
products; (ii) the storage of refined petroleum products in connection with any
of the activities described in (i); and (iii) bunkering in connection with
refined petroleum products.  For purposes
of this non-competition agreement, the geographic scope of the Restricted
Geography shall be New England and those other jurisdictions in which the
Company is conducting business at any time from the date hereof through and
including August 31, 2010.   Notwithstanding
any provision of this paragraph to the contrary, the Executive may (x) own up
to 3% of a publicly traded entity that is 

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engaged in one or more of the
Restricted Businesses and (y) with the prior consent of the Company, may serve
as a director of an entity that is engaged in one or more of the Restricted
Businesses.

Special
Definitions

5.    For
purposes of this Exhibit A, “Confidential Information” means any and all
information of the Company and its Affiliates that is not generally available
to the public. Confidential Information also includes any information received
by the Company or any of its Affiliates from any Person with any understanding,
express or implied, that it will not be disclosed.  Confidential Information does not include
information that enters the public domain, other than through the Executive’s
breach of his obligations under this Agreement.

Enforceability

6.          If any provision of
this Exhibit A should, for any reason, be held invalid or unenforceable in any
respect, including, but not limited to, a determination that such provision is
unenforceable by reason of it being extended over too great a time, too large a
geographic area, or too great a range of activities, it shall not affect any
other provisions and shall be construed by limiting it so as to be enforceable
to the maximum extent compatible with applicable law.

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EXHIBIT B

DESIGNATION OF
BENEFICIARY

The Executive may
designate one or more beneficiaries to receive any amount Deferred Compensation
that remains payable at your death. If your Designated Beneficiary survives
you, but dies before receiving the payment to which he or she is entitled, the
remainder will be paid to the Designated Beneficiary’s estate, unless you
specifically elect otherwise in your Designation of Beneficiary form.

The Executive may
indicate the names not only of one or more primary Designated Beneficiaries but
also the names of secondary beneficiaries who would receive payment of the
Deferred Compensation in the event the none of the primary beneficiary or
beneficiaries are alive at your death. 
In the case of each Designated Beneficiary, give his or her name,
address, relationship to you, and the percentage of your Deferred Compensation
that he or she is to receive.  You may
change your Designated Beneficiaries at any time, without their consent, by filing
a new Designation of Beneficiary form with the Secretary of the Funds.

* * * * * * * * *
* * * *

I, Thomas A.
McManmon, Jr., hereby designates the person or persons listed below to receive
any amount of Deferred Compensation that remains payable to me in the event of
my death, pursuant to the agreement dated [date] between me and Global Partners
LP.  This designation of beneficiary
shall become effective upon its delivery to the General Counsel of the Company
prior to my death, and revokes any designation(s) of beneficiary previously
made by me.  I reserve the right to
revoke this designation of beneficiary at any time without notice to any
beneficiary.

I hereby name the
following as primary Designated Beneficiaries:

	
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In the event that
one or more of the primary Designated Beneficiaries predeceases me, his or her
share shall be allocated pro rata among the surviving primary Designated
Beneficiaries based on the allocation percentage listed above.  I hereby name the following as secondary
Designated Beneficiaries, in the event that no primary Designated Beneficiary
survives me:

	
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In the event that
no primary Designated Beneficiary survives me and one or more of the secondary
Designated Beneficiaries predeceases me, his or her share shall be allocated
pro rata among the surviving secondary Designated Beneficiaries based on the
allocation percentage listed above.

	
   

  	
   

  	
   

  
	
   (Witness)

  	
   

  	
  (Signature of
  Thomas A. McManmon, Jr.)

  
	
   

  	
   

  	
   

  
	
  Date:

  	
   

  	
  Date:

  

 

 8Exhibit
10.1

FAMILY
DOLLAR STORES, INC.

2006
INCENTIVE PLAN

Directors’
Share Awards Guidelines

1.             Purpose

Pursuant to the Family
Dollar Stores, Inc. 2006 Incentive Plan (the “Plan”),  the Board of
Directors has approved and adopted these Directors’ Share Awards Guidelines
(the “Guidelines”) for the purpose of implementing the terms and provisions of
the directors’ compensation program currently approved by the Board.  These Guidelines are adopted pursuant to
relevant provisions of the Plan and are to be interpreted and applied in
accordance with the terms and provisions thereof.

2.             Stock
Awards

·                  For
each Plan Year, each Director who is not an employee of the Company or any
related or subsidiary company on the first day of that Plan Year (an “Eligible
Director”) shall be granted a “Retainer Award” for the year, which shall be in
the form of shares of Stock having a Fair Market Value of $30,000, or such
amount as may otherwise be established from time to time by the Board of
Directors based on the recommendation of the Compensation Committee.  Except as otherwise provided in the following
paragraph, the Retainer Award for any Plan Year shall be made as of the first
business day of that Plan Year (the “Award Date” for that Retainer Award), and
the Fair Market Value of the Stock so awarded shall be determined as of that
date.

·                  If a
Director becomes eligible for an award under these Guidelines during a Plan
Year, on a date other than the first day of the Plan Year, he or she shall be
granted a Retainer Award for the year, which shall be in the form of shares of
Stock having a Fair Market Value equal to $30,000, subject to a pro-rata
reduction to reflect the portion of the Plan Year prior to the date on which he
or she becomes an Eligible Director.  A
Director’s Retainer Award under this paragraph shall be made on the first
business day on which he or she is an Eligible Director (the “Award Date” for
that Retainer Award), and the Fair Market Value of the Stock so awarded shall
be determined as of that date. If the
Retainer Award that would otherwise be made to a Participant as of any Award
Date is not a whole number, then the number of shares otherwise awardable shall
be increased to the next highest whole number.

 

 

3.             Definitions

Unless
otherwise provided herein, capitalized terms used in these Guidelines will have
the meaning given such terms in the Plan. 
If there is any conflict between these Guidelines and the Plan, the
terms and provisions of the Plan shall control. 
In addition, for purposes of these Guidelines, the term “Plan Year”
shall mean the period (i) beginning on the date on which members of the Board
begin their yearly term as Board members following the election of Directors at
the Company’s annual shareholders’ meeting and (ii) ending on the day immediately
prior to the one year anniversary of the date of such grant.  The initial Plan Year under these Guidelines
shall begin with the Company’s annual shareholders’ meeting held in January
2007.

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