Document:

Form of Stock Option Grant Notice

Form of

Stock Option Grant Notice

[NAME FIELD]

[ADDRESS FIELD]

[CITY, STATE, ZIP FIELD]

Stock Option Notice

Congratulations!  Dollar General Corporation’s Board of Directors has awarded you the option to purchase shares of Dollar General common stock as follows:

	

Grant Date

	

# Options

	

Option Price

	

Grant Type

	

Expiration Date

	 	 	 	 	

Plan Information:  This non-qualified stock option has been granted pursuant to the 1998 Stock Incentive Plan, as amended and restated on June 2, 2003, and modified on August 26, 2003, and is subject to all the restrictions, conditions and other terms contained in that Plan (See the Prospectus for a summary of the Plan.  A copy is enclosed if this is your first Dollar General stock option grant.)

Vesting Information:  You must be employed on each scheduled vesting date to be entitled to this option.  This grant will vest in increments of ___% of the represented shares as follows: 

 

____% will vest on [date field]

____% will vest on [date field]

____% will vest on [date field]

____% will vest on [date field]

Expiration Information:  This option is not exercisable after the expiration date set forth above, subject to earlier termination as provided in the Plan.

General Information:  Please review the enclosed Frequently Asked Questions. For additional information, contact the Stock Services Line at _______________, select option ___ followed by option ___ -OR- log on to your account at: 

[INSERT CURRENT WEB ADDRESS]

If you are a new Dollar General optionee, your Personal Identification Number (PIN) for the website, as well as the Stock Services Line, will be mailed to you under separate cover.  Your user id for the stock option website is your 9 digit Social Security number.Form of RS Award Agr

Form of

Restricted Stock Award Agreement

DOLLAR GENERAL CORPORATION

RESTRICTED STOCK AGREEMENT

This Agreement is made and entered into as of the ____ day of _______, _____, by and between DOLLAR GENERAL CORPORATION, a Tennessee corporation (the “Company”), and ______________, ____________________________ of the Company (the “Employee”).

WHEREAS, the Compensation Committee of the Company’s Board of Directors has authorized a  grant to the Employee of ________________ (_________) shares of restricted Company common stock (the “Restricted Stock”) pursuant to the terms and provisions of the Dollar General Corporation 1998 Stock Incentive Plan, as amended and restated effective June 2, 2003, and as modified through August 26, 2003 (the “Plan”) [and of the Employment Agreement effective _____________, ____ by and between the Company and Employee (the “Employment Agreement”)]; and

WHEREAS, Section 7(b) of the Plan requires the execution of an agreement evidencing the Restricted Stock grant within 60 days after the grant date, and provides that no rights shall attach to the grant until the Company receives a fully executed copy of such agreement.

NOW, THEREFORE, for and in consideration of the premises and other good and valuable consideration, including the services to be rendered to the Company by the Employee, the Company does hereby grant the Restricted Stock to the Employee, and the Employee accepts such Restricted Stock, on the following terms and conditions:

(1)

Grant of Restricted Stock. The Company hereby grants to the Employee on the date hereof ________________ (______) shares of Restricted Stock, subject to all the restrictions, limitations and other terms and provisions of the [Employment Agreement, the] Plan and this Agreement. The Company shall cause such Restricted Stock to be issued by the Company’s stock transfer agent who will release such Restricted Stock to the Employee solely upon the written instructions of the Company. The Company shall maintain physical custody of the certificate(s) representing the Restricted Stock. 

(2)

Restrictions.  Until the Restricted Stock vests, the Restricted Stock shall be subject to the prohibitions and restrictions on transfer set forth herein and in the Plan (the “Restrictions”). The Employee shall have all of the rights of a shareholder of the Company, including the right to vote the shares and to receive any cash dividends. Stock dividends or stock splits issued with respect to the Restricted Stock shall be treated as additional shares of Restricted Stock that are subject to the same restrictions, and all other terms and conditions that apply to the shares on which such dividends are paid or additional shares are issued.

(3)

Vesting.  [Except as may be provided in the Employment Agreement in cases of death, Disability (as defined in the Employment Agreement), termination of employment, or expiration of employment Term (as defined in the Employment Agreement),] the Restricted Stock, subject to all the restrictions, limitations and other terms and provisions of the [Employment Agreement, the] Plan and this Agreement, shall vest and the Restrictions shall lapse in accordance 

with the following schedule, so long as the Employee is employed by the Company on the applicable vesting date:

	 	Number of Shares

	Vesting Date

	 
	 	 	 	 
	 	 	,

	 
	 	 	,

	 
	 	 	,

	 

(4)

Non-transferability.  Unvested Restricted Stock is not transferable by the Employee other than to a member of Employee’s Immediate Family (as defined in the Plan) or a trust for the benefit of Employee or a member of his Immediate Family (as defined in the Plan), or by will or the laws of descent and distribution, or as otherwise provided from time to time in the Plan. 

(5)

Agreement Subject to [Employment Agreement and] Plan. This Agreement does not undertake to express all conditions, terms and provisions of the [Employment Agreement or the] Plan. The grant of the Restricted Stock is subject in all respects to all of the restrictions, limitations and other terms and provisions of the [Employment Agreement and the] Plan, [each of] which, by this reference, is incorporated herein to the same extent as if copied verbatim. [Where the terms of the Employment Agreement conflict with the terms of the Plan, the terms of the Plan shall govern and take precedence in all cases.]

(6)

Tax Withholding and Section 83(b) Elections.  At the time the Employee shall become subject to federal income taxation with respect to the Restricted Stock (normally upon vesting, unless the Employee files an election under Section 83(b) of the Code), the Employee shall pay to the Company the amount of any Federal, state, local and other taxes required to be withheld by the Company with respect to the Restricted Stock. If the Employee files an election under Section 83(b) of the Code with the Internal Revenue Service to include the fair market value of any shares of Restricted Stock in gross income while they are still subject to the Restrictions, the Employee shall promptly furnish to the Company a copy of such election. The Company may make such provisions and take such steps as it may deem necessary or appropriate for the withholding of all Federal, state, local and other taxes required by law to be withheld upon the vesting of the Restricted Stock. Unless otherwise determined by the Committee, you will be permitted to elect to surrender a sufficient number of shares of the vested Restricted Stock to satisfy Dollar General’s minimum tax withholding obligation.

(7)

Acceptance of Restricted Stock.  The Employee hereby accepts the Restricted Stock subject to all the restrictions, limitations and other terms and provisions of the [Employment Agreement, the] Plan and this Agreement. 

[Signature Pages Begin on the Following Page]

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IN WITNESS WHEREOF, the parties have executed this Agreement effective as of the day and year first above written.

	 	 	DOLLAR GENERAL CORPORATION

	 	 	 	 
	 	 	 	 
	 	 	By:

	 
	 	 	 	[name]

	 	 	 	[title]

	 	 	employee name

	 	 	 
	 	 	 
	 	 	 
	 	 	 

3Form of RSU Award Agr

Form of

Restricted Stock Unit Award Agreement for Officers/Employees

[name]

[address]

RESTRICTED STOCK UNIT AWARD AGREEMENT

Congratulations!  The Compensation Committee (the “Committee”) of Dollar General Corporation’s Board of Directors has granted you a Restricted Unit Award for Restricted Units (“RSUs”) in your capacity as an employee as follows: 

	Grant Date

	# RSUs

	

_________

	

________

In order for you to be entitled to this award, you must accept the award by signing and returning a copy of this Agreement within 60 days after the grant date.

Plan Information:  The RSUs have been granted pursuant to the 1998 Stock Incentive Plan, as amended and restated on June 2, 2003, and modified on August 26, 2003 (the “Plan”), and are subject to all the restrictions, conditions and other terms contained in that Plan (see the enclosed Prospectus for a summary of the Plan).  Each RSU represents the right to receive one share of Dollar General common stock on the Vesting Date.  

Vesting Information:  The RSUs generally will vest in increments of _____________ of the represented shares if you remain an employee until the applicable Vesting Date for that increment as follows: 

_______ will vest on _______________

_______ will vest on _______________

_______ will vest on _______________

Vesting will be accelerated upon a change in control of Dollar General (as defined in the Plan) or under the circumstances (if any) described in your employment agreement (if any) for full vesting of stock options, restricted stock or other equity compensation awards and may be accelerated as otherwise provided pursuant to the Plan, all as set forth in the Plan.  If your employment is terminated for Cause (as defined in the Plan), all RSUs, vested or not, will terminate immediately and you will not be entitled to any payment with respect to your RSUs.  If your employment ends for reasons other than Cause (as defined in the Plan), all of your vested RSUs which have not yet been settled will be settled in due course, and all of your unvested RSUs will be forfeited.

No Voting Rights:  You have no right to vote shares of Dollar General common stock represented by your RSUs, whether vested or unvested.  Once shares of Dollar General common stock are issued to you in settlement of your vested RSUs, you will have all rights normally associated with share ownership including the right to vote and to receive dividends.

Dividends:  Prior to settlement of your vested RSUs, you will not receive any dividends on shares of Dollar General common stock represented by your RSUs.  

Your RSUs will be credited with cash dividends which would otherwise have been paid if the shares of Dollar General common stock represented by your RSUs (including any deemed reinvested additional shares attributable to your RSUs pursuant to this paragraph) were actually outstanding and those credits will be accumulated.  These dividend equivalents will be deemed to be reinvested in additional shares of Dollar General common stock (determined by dividing the deemed cash dividend amount by the Fair Market Value (as defined in the Plan) of a share of Dollar General common stock on the related dividend payment date.  

In addition, your RSUs will be credited with any such dividends or distributions that are paid in shares of Dollar General common stock represented by your RSUs and will otherwise be adjusted by the Committee for other capital or corporate events as provided in the Plan.

Any such deemed cash or stock dividends or distributions or other adjustment, including deemed reinvested additional shares, will vest or be forfeited based on the vesting or forfeiture of the RSUs to which they are attributable. 

Non-transferability.  Unvested RSUs are not transferable by you other than to a member of your Immediate Family (as defined in the Plan) or a trust for your benefit or the benefit of a member of your Immediate Family (as defined in the Plan), or by will or the laws of descent and distribution, or as otherwise provided from time to time in the Plan.

Settlement Date and Form:  Unless the Committee or the Board of Directors implements a deferred payment program for vested RSUs and you timely elect to defer settlement of your RSUs, you will receive a payment relating to your vested RSUs increment (together with any related vested dividend equivalents and adjustments for stock dividends or distributions) on or shortly after each applicable Vesting Date (provided you have made satisfactory arrangement to pay or cause to be paid the tax withholding associated with your vested RSUs increment).  Your payment will be made in shares of Dollar General common stock (other than fractional shares, which will be paid in cash).  Unless otherwise determined by the Committee, you will be permitted to elect to have Dollar General withhold, and thus not issue to you at settlement, a sufficient number of shares of Dollar General common stock to satisfy Dollar General’s minimum tax withholding obligation. 

General Information:  Section 7(b)(ii) of the Plan requires that you enter into an agreement with Dollar General regarding this award. Accordingly, please sign below and return to _____________________.

IN WITNESS WHEREOF, the parties have executed this Agreement effective as of __________, _____.

	 	 	DOLLAR GENERAL CORPORATION

	 	 	 	 
	 	 	 	 
	 	 	By:

	 
	 	 	 	[name and title]

	 	 	[name of employee]

	 	 	 
	 	 	 
	 	 	 

2

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