Document:

Exhibit 10.27

 

Relocation
Policy Applicable to Executive Officers

 

The following relocation policy applies to all Company
Associates holding the position of Divisional Vice President or above,
including the Company’s named executive officers.

 

 

Family
Dollar Stores Inc. Temporary Housing and Relocation Guidelines for Relocating
Associates

 

I.              General Information

 

A.           Introduction

 

The
purpose of this policy is to minimize any personal expense and inconvenience
you may have due to relocating your household effects at the direct request of
Family Dollar Stores Inc.

 

This
communication states the relocation assistance program for those employees who
are transferred at the Company’s request. 
If you request a transfer, expenses to relocate are your responsibility.

 

The
Corporate Relocation Specialist for company paid relocation shall make all
expense item arrangements.  These items
include, but are not limited to, temporary housing, house hunting and actual
moving expenses including any lump sum payments.

 

B.             Effective
Date

 

This
policy is effective on February 3rd, 2003.  Any moves prior to this effective date will
be handled according to the agreed upon relocation assistance outlined in the
relocating individual’s Terms of Employment.

 

C.             Eligibility

 

The
benefit group upon which you are entering determines the Tier.  You are eligible for Tier 1.

 

D.            Employee
Relocation Expense Agreement

 

The
Employee Relocation Expense Agreement form explains the terms of the Relocation
and Temporary Housing benefits for which you are eligible.  You will receive this information at the time
of offer.  You will also receive a copy
of the form to sign and return to your Recruiter.  If this paperwork is not signed, then you are
not eligible for the benefits.  By
signing this form, you agree to all of the terms and will not deviate from
them.  Any questions should be directed
to the Family Dollar Recruiter or in absence of the Recruiter, the Hiring
Manager.  Once this form is received, the
Relocation Specialist will contact you to start the process.

 

2

 

E.              Administration

 

The Human Resources
Department will be responsible for relocation development, vendor selection,
administration and management.  All
requests for information concerning the provisions of this policy should be
directed to Family Dollar’s Corporate Human Resources Department (Relocation
Specialist) at (800) 547-0359 ext. 4461 or (704) 847-6961 ext. 4461.

 

II.            Procedures

 

A.           The
Relocation Specialist will assist you in relocation by:

 

1.               Providing
appropriate forms required for you to complete.

2.               Contacting
the moving company.  The moving company
representative will in turn call you to coordinate your move and conduct a
pre-move survey.  Please take
advantage of the tips the moving company provides.

3.               Serve
to interpret and clarify details of this policy.

 

B.             Packing
and Loading

 

1.               You
or your representative should be present during packing and loading to see that
the goods are packed carefully and fully inventoried.  Let the moving company do all of the
packing.  Any items packed by you are not
the carrier’s liability.  Contents of the
boxes should be written on the outside of the box and transferred to the
inventory.  We also recommend that you do
not leave articles in drawers and bureaus. 
If you do, they are shipped uninventoried and make it difficult or
impossible to prove a loss.

2.               Never
allow the moving company to pack and move such items as money, valuable paper,
jewelry or other pieces of extraordinary or sentimental value.  Carry these items with you.

3.               As
the packer loads your furniture, they will make notations regarding the
furniture’s condition.  Discuss these
notations with the packer, and do not sign the inventory until you agree to the
conditions noted.

4.               It
is your responsibility to thoroughly check to make sure all goods have been
placed on the van before departing. 
Claims for forgotten items are generally declined.

5.               The
bill of lading (i.e. inventory) must be signed by you and the moving company driver.  Be sure to retain a copy for your records, as
this is your key to ensuring proper settlement of any claim.

 

3

 

C.             Valuation
(Insurance) Coverage

 

Family
Dollar Stores Inc. will cover items in the moving van up to $75,000.  Any amount in excess of $75,000 Family Dollar
Stores Inc. will bill you for the difference. 
The moving company will also pay for damages of sets and pairs.  For example, if one lamp breaks then the
carrier will replace both of your lamps.

 

Family
Dollar Stores Inc. will pay for valuation coverage for household goods that are
stored in a facility authorized and contracted by Family Dollar Stores Inc.

 

D.            Deliver
and Unload

 

1.               You
or your representative must be present at the time of delivery.  Upon delivery, check your inventory copy with
the driver’s.  If there is no damage or
loss to your shipment, write the words “no exceptions” and sign the driver’s
inventory as well as the bill of lading.

2.               Exceptions
need to be noted explicitly per item and number on the driver’s inventory,
specify the nature and extent of damage or loss and sign the inventory
sheets.  Make the same notations on your
copy and ask the driver to sign both. 
Sign the bill of lading and write “exceptions noted” next to your name.

3.               Unloading
is the responsibility of the carrier.

 

E.              Claims

 

Claims
for loss or damage should be filed immediately with the moving company
according to its procedure.

 

F.              Expense
Reporting Reimbursement

 

1.               Expense
Reports – Please fill out all applicable areas of your expense report and give
it to your manager for their approval. It is suggested that you retain copies
of everything, for your files, in case of a discrepancy.

2.               Receipts
– All expense reports must have original receipts attached.  You will not be reimbursed for non-receipt
items.  For mileage, calculate the number
of miles traveled and multiply by $.26 to determine your reimbursement amount.

 

4

 

G.             Taxes

 

Under
the Internal Revenue Code effective January 1, 1994, moving expenses fall
into two different types:

 

•                  Qualified Moving Expense
Reimbursements:  These are limited to the
actual cost of:

•                  Transportation of household goods and
personal effects and

•                  Travel (including lodging, but not
meals) to the new residence on the day of the move.

 

•                  Non-Qualified Moving Expense
Reimbursements:

•                  This includes all other reimbursed
moving expenses.

 

Any
amount reimbursed by Family Dollar Stores Inc. to employees for non-qualified
moving expenses or amounts in excess of the actual qualified moving expenses
paid or incurred must be included in gross income and will be reported on a W-2
form.

 

Taxable
relocation expenses are considered wages received for services rendered and are
subject to all applicable withholding. 
Expenses paid by Family Dollar Stores Inc., other than those under the
IRS definition of qualified moving expense reimbursements, as outlined above,
are included in the gross wages of the employee.  You are responsible for paying any taxes
associated with non qualified moving expenses.

 

III.           Employee Reimbursement

 

A.           Terms

 

If you
voluntarily resign within twelve (12) months of your effective start date at
the new location, you will reimburse Family Dollar Stores Inc. for those expenses
incurred by the company.  Examples of
expenses incurred are, but not limited to, temporary housing, house hunting
trips, lump sum and actual moving.

 

If
Family Dollar Stores Inc. incurs any costs or expenses, including but not
limited to attorney fees, in the collection of this debt, you agree to pay the
attorney fees and expenses associated with the collection of their debt.  In addition, if the associate is late in
making payments or fails to make any payments under this Agreement, Family
Dollar Stores Inc. may in its sole discretion make all monies owed to it
immediately due and payable.

 

5

 

B.             Reimbursement
Plan

 

You
will pay back an amount equal to one-twelfth (1/12) of the total cost incurred
by Family Dollar Stores Inc. for each month of the commitment not met.  Divide the total amount of the move by twelve
(12) to get the payment and then multiply the payment amount by the number of
months the commitment was not met.

 

IV.           Moving Expenses

 

A.           Family
Dollar Stores Inc. authorizes the following:

 

1.                 Packing,
loading and delivery of normal household goods of the employee’s primary
residence.  Items included in this pack
are: Grandfather/Grandmother clocks, breakables, crating, mattresses,
wardrobes, and upholstery/fine finish wrap for furniture.

2.                 Valuation
(insurance) coverage up to $75,000.

3.                 Actual
covered expenses are described under Relocation Summary – Tier 1.

 

B.             Family
Dollar Stores Inc. will not pay for the moving of special items not normally
associated with the movement of household goods or effects to include the
following: (This is not an exclusive list)

 

1.               Pets

2.               Unpacking

3.               Popup,
travel camper, or utility trailers

4.               Hot
tub, spa, or tanning bed

5.               3rd
party service on all appliances

6.               Live
plants, shrubs or trees

7.               Currency,
securities, other valuable papers, jewelry and precious stones or metals

8.               Firewood,
flagstones, bricks, lumber and other construction materials

9.               Perishable
food items

10.         Ammunition
or explosives

11.         Combustible
liquids, open cans of paint, etc

12.         Buildings,
storage sheds, awnings, fences, cabanas, gazebos, outside oil tanks, etc

13.         Cleaning
or maid service

14.         Disconnect
or hook up of television, radio antennas, CATV or satellites

15.         Assembly
or disassembly of furniture, tool sheds, playhouses, etc

 

6

 

C.             The
cost of the actual move will be billed directly to Family Dollar Stores Inc.
provided the employees uses the moving vendor Family Dollar Stores Inc. selects.  The use of other moving companies not
contracted directly by Family Dollar Stores Inc. is not allowed and expenses WILL NOT BE REIMBURSED. 
By contracting with one moving company, we are able to :

 

1.               Provide
consistency in the moving process

2.               Ensure
there is a clear understanding with the mover as to which expenses are covered
and which are not

3.               Obtain
an estimate of moving expenses to the Company for planning purposes.

 

V.            Temporary
Housing

 

Family
Dollar Stores Inc. may provide you with temporary housing. Your Tier determines
eligibility.  You are eligible for up to
90 days of temporary housing.

 

Corporate:

 

The
company will pay for the direct leasing costs of a fully furnished apartment
for up to 90 days, including monthly rent, electricity, water and basic
cable.  Expenses incurred by you include
phone set up and monthly telephone bill. 
You will be provided with information on how to set up your phone when
the first contact is made with the Relocation Specialist.

 

Vacating
the apartment earlier than your agreed upon time, requires that you give the
Relocation Specialist a 30 day notice. If you wish to assume your own lease
with the apartment complex, after the temporary housing expires, it is your
responsibility to make arrangements with the apartment complex.  Family Dollar Stores Inc. assumes no charges
after the stated amount of time has expired.

 

Remote
Locations:

 

Arrangements
will go through the designated individual for that location.  Your contact person is ____________________.

 

7

 

VI.           Real
Estate Assistance

 

You may be reimbursed
for certain actual, documented expenses relating to the real estate commissions
paid by you on the sale of your house within six (6) months of actual
start date.  You must submit verification
of the amount spent to your supervisor for reimbursement.  The amount given will not exceed $5,000. You
are required to pay any taxes associated with this money.  Real Estate Assistance is considered income,
and is taxable.  You are required to pay
any taxes associated with this.

 

VII.         Storage
of Household Goods

 

You
are eligible to receive up to 60 days of paid storage.  Family Dollar Stores Inc. also selects the
vendor for storage.  It will be
the associate’s responsibility to pay for storage if they request a special
facility.  Family Dollar
Stores Inc. will not pay for climate controlled storage or for storage of cars.

 

VIII.        Travel

 

A.           Pre-Move Travel

 

1.               You
are eligible for two (2) house hunting trips up to three (3) days and
two (2) nights.

2.               Employee
authorized to be accompanied on each trip with one (1) additional
traveler.  Any other travelers will be
the responsibility of the employee.

3.               Reimbursement
will only be made you and your companion.

4.               Reasonable
priced lodging and meals will be reimbursed for you and your companion.  You must fill out an expense report, attach
original receipts and forward to your supervisor for signature.

 

B.             En Route Reimbursement

 

Family
Dollar Stores Inc. will reimburse you the cost of transportation and lodging
for you and the members of your household while traveling from your former home
to your new home. You are eligible to receive two (2) nights of lodging,
and reimbursement for up to 2 cars at $.26 per mile.

 

Airfare
is only authorized if your move is over 500 miles.  Please do not make the
arrangements on your  own.  If you are eligible for transportation via
airfare, please contact the Relocation Specialist.

 

8

 

This
trip is considered business and it must go through our Internal Travel and
Relocation Department.  Pets are not included in the flight arrangements.

 

En
route expense does not cover any expenses at the former location.  En route expenses begin upon traveling from
the old location for the final move; i.e. lodging or expenses incurred while
traveling to the new location.  Receipts
are required for all expenses submitted for reimbursement (other than personal
automobile mileage).  Side trips, vacations or excessive mileage will not be covered.

 

IX.           Automobile Shipment

 

Expenses
associated with the shipping of vehicles to the employee’s new location are
Tier specific.  You are eligible for:

 

	
   

  	
   

  	
  Tier
  1

  
	
  Less than 250 miles

  	
   

  	
  Drive all

  None moved by carrier

  
	
  250 – 500 miles

  	
   

  	
  Drive 1

  Move 1 by carrier

  
	
  500+ miles

  	
   

  	
  Move 2 by
  carrier

  Fly- Employee and Family

  

 

9Exhibit 10.28

 

IRV NEGER

TERMS OF EMPLOYMENT

 

	
  Title:

  	
   

  	
  Sr. Vice President – Softlines

  
	
   

  	
   

  	
   

  
	
  Weekly Salary:

  	
   

  	
  $4,326.92 per week ($225,000 per annum)

  
	
   

  	
   

  	
   

  
	
  Starting Date:

  	
   

  	
  First week of September, 2000

  
	
   

  	
   

  	
   

  
	
  Bonus:

  	
   

  	
  Participation in the Target Bonus Plan with
  an opportunity to earn 30% of fiscal year base salary in each fiscal year
  beginning with the fiscal year starting September 2, 2001, subject to
  all terms and conditions of Plan.

  
	
   

  	
   

  	
   

  
	
  Special Bonus:

  	
   

  	
  In lieu of participation in any bonus plan
  for the period through September 1, 2001, the Company will make payments
  of $25,000 on each of the following dates (subject to continued employment on
  the date of payment): September 15, 2000, October 15, 2000,
  April 1, 2001, July 1, 2001, and September 15, 2001.

  
	
   

  	
   

  	
   

  
	
  Stock Options:

  	
   

  	
  An option of 100,000 shares will be
  recommended to the Stock Option Committee to be granted under the 1989
  Non-Qualified Stock Option Plan within ten (10) days after employment
  starting date.

  
	
   

  	
   

  	
   

  
	
  Temporary Housing:

  	
   

  	
  Company will pay for the direct monthly
  leasing costs of a one (1) bedroom furnished apartment in Charlotte for a
  period of three (3) months. If a longer period of time is necessary, it
  will be reviewed on a monthly basis, not to exceed a total of six
  (6) months.

  
	
   

  	
   

  	
   

  
	
  Moving Expenses:

  	
   

  	
  Company will make arrangements and pay to
  move your household effects from Wexford, Pennsylvania to Charlotte.

  

 

	
   

  	
  Confirmed

  
	
   

  	
   

  
	
   

  	
  /s/ Irv Neger

  	
   

  
	
   

  	
  Irv Neger

  

 

 

IRV NEGER

TERMS OF EMPLOYMENT

 

	
  Pre-Move Travel:

  	
   

  	
  Three (3) trips for both you and your
  wife to travel to and from Charlotte for the purpose of taking care of
  personal needs relating to your move.

  
	
   

  	
   

  	
   

  
	
  Medical and Life Insurance:

  	
   

  	
  Coverage under Group Medical Plan, Medical
  Expense Reimbursement Plan, and Life Insurance Plan in accordance with terms
  of Plan, effective date of hire.

  
	
   

  	
   

  	
   

  
	
  Vacation:

  	
   

  	
  Ten working days during the period from
  September 2000 through April 2001, and fifteen (15) working days
  during each twelve (12) month period commencing May 1, 2001 accruing
  rateably during the periods. We will work with you on a reasonable basis so
  that any vacation you planned in advance in the first prorated vacation year
  can be taken by permitting you to use vacation from the next year in advance.

  
	
   

  	
   

  	
   

  
	
  Severance:

  	
   

  	
  Company will pay severance of three (3) months
  base salary in equal bi-weekly installments during the three (3) month
  period if the Company terminates your employment for reasons other than
  “cause”. (“Cause” is defined as willful failure to comply with reasonable
  written directives of the President, CEO; chronic absenteeism not resulting
  from medical disability; willful misconduct or gross negligence; willful
  violation of substantive Company policies, practices or procedures; or
  indictment for or conviction of a crime involving an act of moral turpitude.)

  

 

 

	
  Confirmed:

  
	
   

  
	
  /s/ Irv Neger

  	
   

  
	
  Irv Neger

  
	
   

  
	
  Dated:

  	
  7/31/00

  	
   

  
				

 

2

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