Document:

Amendment to 1998 Stock Incentive Plan

AMENDMENT TO

DOLLAR GENERAL CORPORATION

1998 STOCK INCENTIVE PLAN

(As Amended and Restated effective as of May 31, 2006)

Section 3(c) of the Dollar General Corporation 1998 Stock Incentive Plan (the “Plan”) is amended, effective as of November 28, 2006, to read in its entirety as follows:

(c)

In the event of any merger, reorganization, consolidation, recapitalization, extraordinary cash dividend, stock dividend, stock split or other change in corporate structure affecting the Common Stock, an appropriate substitution or equitable adjustment shall be made in the maximum number of shares that may be awarded under the Plan, in the number and option price of shares subject to outstanding Options granted under the Plan, in the Performance Goals, in the number of shares underlying Outside Director Options and Outside Director Restricted Units to be granted under Section 8 hereof and in the number of Restricted Units outstanding, in the Section 162(m) Maximum, and in the number of shares subject to other outstanding awards granted under the Plan as shall be determined solely by the Committee, provided that the number of shares subject to any award shall always be a whole number.  An adjusted option price shall also be used to determine the amount payable by the Corporation upon the exercise of any Stock Appreciation Right associated with any Stock Option.Second Amendment to CDP/SERP Plan

SECOND AMENDMENT

TO THE

DOLLAR GENERAL CORPORATION

CDP/SERP PLAN

(As Amended and Restated Effective November 1, 2004)

WHEREAS, effective as of November 1, 2004, Dollar General Corporation (“Company”) adopted the latest amendment and restatement of the Dollar General Corporation CDP/SERP Plan, which plan was subsequently (“Plan”);

WHEREAS, pursuant to Section 11.3 of the Plan, the Plan may be amended by due action of the Board of Directors or the Compensation Committee of the Company;

WHEREAS, the Compensation Committee of the Company has delegated certain Plan amendment rights to the Benefits Administration Committee of the Company.

WHEREAS, the Benefits Administration Committee of the Company desires to amend the Plan to expressly provide for Plan provisions requiring a cancellation of a Participant’s Deferral Election upon receipt of a hardship withdrawal under a 401(k) plan.

NOW, THEREFORE, the Benefits Administration Committee of the Company hereby amends the Plan as follows, effective January 1, 2005 or as otherwise expressly provided herein, provided, however, that if this amendment does not comply with Code Section 409A (including the Income Tax Regulations thereunder) in any manner, the provisions(s) not so complying shall not be effective until amended to so comply (which amendment may be retroactive to the extent permitted under Code Section 409A (including the Income Tax Regulations thereunder)):

1.

The following new Section 4.7 is added to the Plan:

4.7

“Automatic Cancellation of Deferral Election upon Receipt of Hardship Withdrawal under 401(k) Plan”

(a)

A Participant’s Deferral Election in effect at the time of a 401(k) hardship withdrawal shall be cancelled (rather than postponed or delayed) prospectively so that no further deferrals from his Base Pay or bonuses shall be made during the 401(k) hardship withdrawal required cancellation period or with respect to the Plan Year in which the 401(k) hardship withdrawal required cancellation period begins.  

(b)

The Participant whose Deferral Election is cancelled pursuant to this Section may file a new Deferral Election in order to commence or recommence making deferrals under the Plan from his Base Pay or bonuses at the later of (i) the first payroll period that commences after the end of the 401(k) hardship withdrawal required cancellation period or (ii) the CDP Participant’s next Enrollment Date.  The new CDP Deferral Election shall be made by a signed written notice, in a form acceptable to the Plan Committee, and shall be delivered to the Plan Committee at a date established by the Plan Committee, but no later than the day before 

the CDP Participant’s next or any subsequent Enrollment Date on or following which the Participant’s deferrals from his Base Pay or bonuses will commence or recommence, and shall apply only to Base Pay and bonuses earned after the new Deferral Election becomes effective as required by Code Section 409A.  

(c)

For purposes hereof, the following terms have the following meanings:

(i)

A “401(k) hardship withdrawal” is a hardship withdrawal from a 401(k) plan which requires a suspension of employee contributions and elective deferrals as a result of receipt of the hardship withdrawal in order to satisfy the regulations under Code Section 401(k).  

(ii)

The “401(k) hardship withdrawal required cancellation period” means the six month period (or other stated period in the 401(k) plan) during which employee contributions and elective deferrals must be suspended as a result of receipt of a 401(k) hardship withdrawal in order to satisfy the regulations under Code Section 401(k).  

(iii)

A “401(k) plan” means the Dollar General Corporation 401(k) Savings and Retirement Plan and any other deferred compensation plan intended to meet the requirements of Code Section 401(k) and maintained by the Company or any other business entity or other organization (whether or not incorporated) which during the relevant period is treated (but only for the portion of the period so treated and for the purpose and to the extent required to be so treated) as a single employer with the Company or any Subsidiary under Code Section 414(b), (c), (m) or (o).  

2.

Except as amended by this Second Amendment, the Plan shall remain in full force and effect.

IN WITNESS WHEREOF, this First Amendment to the Plan has been executed on the 13th day of Nov., 2006, but effective as hereinabove provided.

				
	 	DOLLAR GENERAL CORPORATION

	 	 	 	 
	 	 	 	 
	 	By:

	/s/ Jeffrey R. Rice

	 
	 	 	 	 
	 	Its:

	V.P. of Human Resources

	 
	 	 	Chairman of the BAC

	 
	 	 	 	 

2Life Insurance Program

Summary of

Dollar General Corporation Life Insurance Program

as Applicable to Executive Officers

Dollar General Corporation (the "Company") has established a life insurance program for salaried employees.  Currently, a death benefit equal to 2.5 times the employee’s annual base salary, up to a maximum of $3 million, is provided to a limited group of salaried employees, including the Company’s executive officers.  A lesser death benefit is provided to other groups of salaried employees.  

The life insurance coverage offered through the program may be provided through a variety of means, including individual (which may be owned by the individual or by the Company) or group policies with universal, whole or term insurance, or through payment out of the Company’s general assets, as determined by the Company in its sole discretion. In addition, certain of these policies may accumulate a cash value which may inure to the benefit of either the Company or the individual.  Regardless of the method for providing the coverage, the Company grosses up payments to cover any required taxes on premiums or imputed income for salaried employees of the Company serving as officers.Domestic Relocation Policy Executives/Senior Officers

Dollar General Corporation

Domestic Relocation Policy

Executives/Senior Officers

I

Congratulations on your new assignment!

In addition to the challenges your new position brings, you and your family will encounter many changes as you leave familiar surroundings, find a new place to live and settle into your new location.

The relocation of employees contributes to the Company’s ability to stay flexible and competitive. For that reason, we have partnered with Global Mobility Solutions (GMS), as well as a number of other top rate service providers, to provide you with a program of relocation support to reduce normal move disruptions, and enable you to get settled in your new home and job as quickly as possible.

This Relocation Guide outlines the services made available to you to help facilitate your move, including selling your current residence and finding a new community and home.

Please take the time to read through this guide and familiarize yourself with the policy and GMS relocation services before you begin planning your relocation. Recognizing that relocating can be a disruptive time, the Company, through your dedicated Relocation Coach will assist you and your family throughout your move.

Our best wishes for success in your new location.

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Relocation Program Contact Information

Global Mobility Solutions (GMS)

Dedicated Relocation Coach

Tricia Davis, Senior Relocation Coach

800-617-1904 ext 8866 

480-361-8867 fax

tdavis@gmsmobility.com

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TABLE OF CONTENTS

SUMMARY OF BENEFITS

6

INTRODUCTION

7

ON THE MOVE

7

ELIGIBILITY

7

FAMILY

7

TIME LIMIT

7

DISCLAIMER

7

POLICY EXCEPTIONS

7

RELOCATION ADMINISTRATION

8

FORMS TO COMPLETE

8

EXPENSE REIMBURSEMENT

9

RELOCATION AND TRANSITION EXPENSES

10

MISCELLANEOUS EXPENSE ALLOWANCE

10

HOUSEHUNTING

10

TEMPORARY LIVING

10

RETURN TRIP

11

TAX ASSISTANCE

11

HOME SALE ASSISTANCE PROGRAM

12

HOME ELIGIBILITY

12

OVERVIEW

12

Marketing Your Home

12

Appraised Value Offer

13

Amended Value Sale

13

Marketing Assistance

13

How the Marketing Process Works

13

Market Analysis

13

Monitoring the Marketing Process

15

Negotiating a Sale

15

Finalizing a Sale

15

APPRAISED VALUE OFFER

16

APPRAISER SELECTION

16

APPRAISALS

16

DETERMINING THE APPRAISED VALUE OFFER

16

TITLE SEARCH

17

OFFER PERIOD

17

HOME SALE PROGRAM TIMELINE

17

ACCEPTING THE APPRAISED VALUE OFFER

17

VACATING THE HOME

17

UTILITIES

18

INSURANCE

18

AMENDED VALUE SALE

19

ADVANTAGES OF AN AMENDED VALUE SALE

19

ANALYZING THE OFFER

19

AMENDING THE OFFER LETTER

19

BUYER’S OFFER LESS THAN APPRAISED VALUE OFFER

19

CLOSING AN AMENDED VALUE SALE

19

EQUITY

20

INDEPENDENT SALE

21

REIMBURSEMENT OF EXPENSES

21

RENTERS’ ASSISTANCE

22

LEASE CANCELLATION

22

NEW LEASE AGREEMENT

22

DESTINATION LOCATION

23

PLANNING YOUR HOUSE HUNTING TRIP

23

INTERNET HOME SEARCH

23

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TABLE OF CONTENTS

HOME PURCHASE CLOSING COST ASSISTANCE

24

NATIONAL MORTGAGE LENDER PROGRAM

24

NEW CONSTRUCTION

24

MOVING TO THE NEW LOCATION

25

SHIPMENT OF HOUSEHOLD GOODS

25

ITEMS EXCLUDED FROM SHIPMENT

25

PLAYGROUND AND SIMILAR EQUIPMENT

25

INSURANCE

25

ITEMS OF EXTRAORDINARY VALUE (INCLUDING ANTIQUES)

26

PACKING AND LOADING

26

UNLOADING

26

BILLING

26

TIPPING

26

SHIPMENT OF AUTOMOBILES

26

STORAGE IN THE NEW LOCATION

26

TIME OFF FOR MOVING

27

TRAVEL TO THE NEW LOCATION

27

TAX ASSISTANCE

28

TAX TREATMENT TABLE

29

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SUMMARY OF BENEFITS

		
	Provision

	Description

	Eligibility

	You are eligible for coverage under the relocation program described in this guide if you are classified as an active full-time current or newly hired, salaried executive level employees and senior officers; homeowner or renter.  It is your responsibility to work with the Manager Corporate Recruiting and Relocation to monitor your eligibility for benefits and to ensure your status is accurately reflected in the payroll system. 

Note:  Active Full-time (AF) means not L, LP, or T status.

	Relocation and Transition 

Expenses

	·

A Miscellaneous Expense Allowance of 5% of your new base salary to cover incidental expenses associated with your move not otherwise covered by this policy

·

House hunting expenses will be reimbursed for two (2) trips totaling seven (7) days for you and your spouse or one additional household member and for your children

·

Temporary living expenses reimbursed for up to 60 days 

	Home Sale 

Assistance

	·

Marketing Assistance

·

Appraised Value Offer

·

Amended Value Sale 

·

Independent Sale

	Destination Services

	Company’s relocation program offers you professional homefinding counseling through GMS 

	Home Purchase Closing Cost Assistance

	·

Available to current homeowners and renters

·

Company reimburses reasonable and customary home purchase expenses plus up to 1% for loan origination fees

	Renters’ Assistance

	Company will reimburse up to two months’ rent for any combination of lease cancellation/duplicate rent 

	Moving to the New Location

	·

Normal family household goods moved via van line plus up to $75,000 in full replacement valuation

·

Mileage reimbursed for driving up to two automobiles to the new location; in lieu of driving, the Company will pay to ship your second automobile if distance exceeds 300 miles 

·

Storage for up to 60 days

	Tax Assistance

	Gross-up provided for most non-deductible relocation expenses including federal, state and FICA taxes

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INTRODUCTION  

On the Move...

This handbook has been designed to help you understand Dollar General’s relocation program and to assist you and your family in relocating as quickly as possible with minimal inconvenience.  You are encouraged to carefully read this handbook in its entirety.  Recognizing that relocating can be a disruptive process, the Company and GMS will assist you and your family throughout your move.

Eligibility

The relocation program was developed to facilitate the movement of active, full-time current, salaried, executive-level employees or senior officers who are requested to relocate by the Company and designated by the Company to receive the benefits described in this handbook.

In order to be eligible for relocation as described in this handbook, your relocation must meet the IRS 50-mile distance test.  The distance between your former residence and your new job site must be at least 50 miles greater than the distance between your former residence and your former job site.

Family

Your family members eligible for assistance under this policy include your spouse and your dependent household members.  In the event an additional member of your household is asked to relocate by the Company, you are eligible to receive only one set of benefits.

Time Limit

You are eligible for the benefits extended in this handbook for up to 12 months following your effective date of transfer. All expense reports related to your relocation are required to be submitted within 90 days of the date incurred within this 12-month period.

Disclaimer

The Company has the sole right at any time to revise, amend or discontinue this policy.  This policy shall not be considered or construed as an employment contract and does not constitute a guarantee of employment for any minimum or specified period of time.

Policy Exceptions

If you feel an exception is needed, please contact the Human Resources department (Relocation) so that we may help you with your request.

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RELOCATION ADMINISTRATION

Upon notification of your relocation, your dedicated Relocation Coach will contact you and be your main point of contact throughout your move.  Your dedicated Relocation Coach will guide you through each step of the relocation process, answer your questions, and help coordinate all aspects of your move.  Listed below are highlights of the services your dedicated Relocation Coach will provide to you:

·

general information,

·

expense report reimbursements,

·

disposition of your present home,

·

assistance in finding a new residence,

·

moving your household goods,

·

moving you and your family to the new location, and

We encourage you to become fully involved in your move and work closely with the professionals who have been made available to assist you throughout the relocation process.  By working closely with your dedicated Relocation Coach, you will be able to effectively manage your move.

Forms to Complete

Our goal is to have a relocation process that is as simple and easy to use as possible.  Therefore, there are only two steps that you must complete before receiving your relocation benefits.

Step 1.  

Complete and return the Relocation Initiation Form

The Relocation Initiation Form provides us with important information to pass on to the moving company and for relocation check/reimbursement requests.

Step 2.  

Complete and return the Employee Reimbursement Form.

The Employee Reimbursement Form states that you have read Dollar General’s Relocation policy and understand that you are responsible for any expenses not covered under the policy.  This form may also have a reimbursement schedule you would follow to pay back a pro-rated share of your relocation benefits should you leave the company within a year of relocation.

Both of these forms can be mailed or faxed to the following:

Dollar General Human Resources Relocation

100 Mission Ridge

Goodlettsville, TN  37072

Fax (615) 855-5252

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EXPENSE REIMBURSEMENT

Most ordinary expenses involved in moving from one location to another are covered under this policy.  Any questions of interpretation should be discussed with your dedicated Relocation Coach before you take action.

All relocation expenses must be submitted on the Relocation Expense Report Form (will be provided to you by GMS) and must not be combined with regular business expenses.  In order to determine the federal and state tax liability for reimbursed expenses, all relocation expenses must be reported accurately.

Where relocation-related expenses are specifically reimbursable, consistent guidelines apply.  

·

All reimbursable expenses must be reasonable and appropriate.

·

All relocation benefits are reflected in U.S. dollars.

·

All reimbursable moving expenses must be incurred within 12 months from the date of transfer and submitted for payment within 90 days from the date the expense is incurred.

·

Only expenses specifically outlined in the policy will be reimbursed.

·

You must submit original receipts for reimbursement.  Your completed expense reports together with your original receipts should be forwarded directly to your dedicated Relocation Coach.

·

It is important not to include any business expenses on relocation expense forms.

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RELOCATION AND TRANSITION EXPENSES

Miscellaneous Expense Allowance

The Company will provide you with 5% of your new base salary to cover many of the incidental expenses not specifically reimbursed under this policy, which may occur as a direct result of your transfer:

·

driver’s licenses and automobile registrations in the new location,

·

utility deposits,

·

shipment of pets,

·

cleaning or maid service (new or old location),

·

non-refundable tuition, memberships, club dues or subscriptions,

·

piano tuning,

·

tips to movers,

·

drapery and carpet installation or alterations,

·

television or cable installation or adjustments,

·

overnight mail charges,

·

tax consulting,

·

items unique to your personal move not covered by this policy, 

·

disassemble/reassemble playground, gym equipment, swimming pools, and similar items.

For newly hired employees check will be cut and mailed to address in Dollar General's payroll system within 2 weeks of start date. 

Tax Assistance

Gross-up will not be provided for the Miscellaneous Expense Allowance.

HouseHunting

Dollar General will provide you and your spouse or one additional household member and your children with two (2) house hunting/apartment hunting trips for a total of seven (7) days.  The House Hunting Trip will include the following:

·

Hotel accommodations for a maximum six (6) nights. 

·

Mileage reimbursement at current Company rate if personal vehicle is driven.

·

Reimbursable meal expenses not to exceed $25.00/day per adult, $15.00/day per child (original receipts must be submitted).

Tax Assistance

Gross-up will be provided for residence hunting expenses.

Temporary Living

 

Temporary Living Assistance is intended only for short-term living arrangements at the new location.  Dollar General will reimburse you for up to 60 days of temporary living expenses.  Temporary living assistance includes the following:

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·

Lodging for employee only

·

Meals for employee only (not to exceed $25.00/day based on original receipts)

If you require temporary living assistance please contact your dedicated Relocation Coach at least two weeks in advance.  He or she will be happy to help you make arrangements and answer any questions you may have.

Return Trip

If you are required to report to work in your new location prior to your family’s final move, you will be eligible to receive coverage of travel expenses for one (1) return trip home during your temporary living period. One family member may visit you in the new location in lieu of a return trip. 

Tax Assistance

Gross-up will be provided for temporary living and return trip expenses.

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HOME SALE ASSISTANCE PROGRAM

Your dedicated Relocation Coach will provide you with the necessary expertise to facilitate the sale of your home through the services described below. 

Home Eligibility

A home eligible for home sale assistance is any completed single-family or two-family residence, including a condominium, that is used as your principal residence and that is owned by you, your spouse, any of your dependents residing in the same household, or any combination of those persons at the time you are asked to relocate.  This also includes land customarily considered part of a residential lot and all personal property normally sold with a residence according to local custom.  If your home does not meet these eligibility guidelines, you may qualify for reimbursement of certain home sale commission expenses if you sell your primary residence on your own (Independent Sale, page 21). 

Homes considered ineligible for home sale assistance include, but are not limited to, the following:

·

cooperative apartments,

·

mobile homes,

·

vacation/secondary homes,

·

investment properties,

·

homes with excessive acreage (+5 acres),

·

homes that are partially completed or under substantial renovation,

·

homes ineligible for conventional financing,

·

houseboats,

·

homes deemed ineligible through building inspections, and

·

vacant lots appraised as contributory value only.

If you have any questions regarding your home’s eligibility, please contact your dedicated Relocation Coach prior to beginning the relocation process.

Overview

Marketing Your Home

The home sale process will begin with listing your home.  Your dedicated Relocation Coach will help you select a qualified real estate agent and together they will determine selling strategies targeted to help you receive the best possible offer for your home. The advantage to successfully marketing your home and selling to an outside buyer is that you may receive a greater cash return than the Appraised Value Offer.  

You are required to speak with your dedicated Relocation Coach prior to taking any steps to list or market your home. You are required to market your home for a minimum of 90 days from the date your home is listed with an approved real estate agent.

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Appraised Value Offer

If you have not sold your home 30 days after listing your home, two independent appraisers will appraise your home to determine the Appraised Value Offer.  This offer will be your “safety net” providing you with a guaranteed price, should your home not sell on the open market.  Your Appraised Value Offer will be available to you for 60 days. 

Amended Value Sale

If you receive a qualified offer on your home from an outside buyer as described on page 19, you have an opportunity to “amend” the Appraised Value Offer from GMS to reflect your buyer’s offer.  

Marketing Assistance

As soon as the Company authorizes your relocation, your dedicated Relocation Coach will contact you to explain the first step—the listing and marketing of your home.  Placing your home on the market as advantageously as possible is a critical element in successfully marketing your home.  Throughout the home sale process, your dedicated Relocation Coach will continuously track your agent’s efforts to market your home.  The goal of these efforts is to help you obtain the best offer for your home within a reasonable time frame.

Your dedicated Relocation Coach’s objectives are to:

·

help you identify a qualified and active broker to assist you in marketing and listing your home in a highly effective manner;

·

work with your real estate agent to develop a strategic marketing plan to sell your home at the best possible market value;

·

in conjunction with your real estate agent, suggest any minor repairs and/or improvements that will increase the marketability of your home; and

·

work with you throughout the process of you selling your home.

How the Marketing Process Works...

The following is a step-by-step process of marketing assistance services provided by your dedication Relocation Coach.

Agent Selection

Your dedicated Relocation Coach will place a referral with two (2) area real estate agents who will visit your home and prepare a complete Employee Relocation Council (ERC) Market Analysis.  If you would like to designate a particular real estate agent that has not been recommended, please notify your dedicated Relocation Coach.  As long as the real estate agent agrees to the program’s requirements, he or she will be able to work with you as one of your two selected agents.  You may not utilize or ask to have qualified any real estate agent that is a family member; i.e., spouse, child, mother, father, brother, sister or in-laws.  If you have no preference or are not familiar with local brokers, your dedicated Relocation Coach will assist you in the selection.

Market Analysis

The two selected real estate agents will be asked by your dedicated Relocation Coach to complete a market analysis on your home that will be used to prepare a marketing strategy.  The market analysis will describe the current marketplace along with the agent’s opinion of 

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the most probable sales price for your home.  The analysis also contains a suggested sales action plan with recommendations for preparing your home for optimum market attention.

Listing Your Home

Your dedicated Relocation Coach will ask you to select one real estate agent from the two you have interviewed.  He or she will then work with you and your selected agent to develop a marketing strategy and establish a list price that is both attractive and realistic in the local market. 

You are required to list your home within 110% of the most likely sales price as indicated on the Broker’s Market Analysis (BMA) prior to the appraisal process.  Once you have received your Appraised Value Offer, you are then expected to list your home within 110% of the Appraised Value Price.  You are required to list your home for a minimum of 90 days from the initial list date before you are eligible to accept the Appraised Value Offer.

Listing Exclusion Clause

When you speak with your dedicated Relocation Coach, he or she will discuss the necessity of including the following language in the listing agreement with your broker. The reason for this clause is to allow for cancellation of the listing agreement if necessary for GMS to close with the buyer.  This clause is considered “standard operating procedure” among agents who work with corporate transferees.  The following Exclusion Clause should be attached as an addendum to the Listing Agreement.

“In the event of any conflict or inconsistency between this Addendum and the Listing Agreement, the terms of this Addendum shall control.

It is understood and agreed that regardless of whether or not an offer is presented by a ready, willing and able buyer:

1.

No commission or compensation shall be earned by, or be due and payable to, broker until the sale of the property has been consummated between seller and buyer, the deed delivered to the buyer and the purchase price delivered to the seller; and

2.

The seller reserves the right to sell the property to GMS or to: ________________

(individually and collectively a “Named Prospective Purchaser”) at any time.  Upon the execution by a Named Prospective Purchaser and me (us) of an Agreement of Sale with respect to the property, this listing agreement shall immediately terminate without obligation of my (our) part or on the part of any named Prospective Purchaser to either pay a commission or to continue this listing.”

				
	 	 	 	 
	Real Estate Agent

	 	Date

	 
	 	 	 	 
	 	 	 	 
	Seller

	 	Date

	 
	 	 	 	 
	 	 	 	 
	Seller

	 	Date

	 

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Monitoring the Marketing Process

Your dedicated Relocation Coach will work with you and your real estate agent throughout the marketing process to ensure maximum exposure for your home, provide feedback on the marketing process, and recommend strategy modifications, if needed.  

Negotiating a Sale

When you have an interested buyer and receive an offer, your dedicated Relocation Coach will be a valuable resource as you negotiate a price and a Offer Letter.  You must submit ALL offers received to your dedicated  Relocation Coach for review and consideration. DO NOT SIGN a contract (or any other document) with the buyers or take any money as a deposit from the real estate agent or prospective buyer.

Finalizing a Sale

Your dedicated Relocation Coach will handle the details of the real estate transaction once the terms of the sales agreement have been finalized.

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APPRAISED VALUE OFFER

Your decision to relocate should not be hampered by concerns about selling your home.  GMS will assist you by making an offer to purchase your home at a value established by independent fee appraisers.  The appraisal process will begin 30 days after listing and marketing your home.

Appraiser Selection

Your dedicated Relocation Coach will have two (2) ERC approved appraisers contact you to schedule convenient time to survey your home.

Appraisals

An appraisal is an estimate of the anticipated sales price of your home over a reasonable selling period.  Appraisers estimate value primarily by comparing your home to the sales of similar properties making detailed adjustments for the differences between those properties and your home.  The appraisers consider location, size, age, condition, and marketability.

When the appraisers arrive to inspect your home, you should be prepared to discuss any facts that may be important in determining the value of your home:

·

any improvements you have made to the home that may or may not be visible to the appraisers; and

·

any information on similar homes that have recently sold in your area.

Your home will be appraised in “as is” condition, so it is important your home shows favorably to maximize the appraised value and resale efforts. Your dedicated Relocation Coach and your real estate agent will assist in suggesting specific fix-up items to help maximize your marketing efforts.

The appraisers may also ask for a copy of the land survey and a copy of the title policy that you received when you closed on your home.  They will need these items to obtain the correct legal description.

Determining the Appraised Value Offer

Your Appraised Value Offer will be equal to the average of two independent appraisals.  However, if the variance between the two appraisals is greater than 5% of the higher amount, a third appraisal will be ordered.  In this case, your offer will be determined by averaging the two closest appraisals.

Your dedicated Relocation Coach will present you with your Appraised Value Offer once the inspection and appraisal reports have been received and reviewed.  Your home will have to pass all inspections and/or you must satisfactorily remedy any deficiencies before your offer is finalized.  The entire process should be completed within 30 days from the date of the last inspection.  

You are required to list your home at no more than 110% of the Appraised Value Offer.  This may require you to make an adjustment to your current list price. 

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Title Search

In addition to arranging for the appraisals and inspections, a title search will be initiated in order to prepare for closing.  You may need to be involved in clearing any title issues should they appear on the title report.  Please inform your real estate agent that GMS is bringing the title up-to-date.  This can avoid a duplicate title search.  Often an agent will arrange for a title search upon notification from a lender of a buyer’s loan approval.

Offer Period

Your dedicated Relocation Coach will call you with your Appraised Value Offer and outline the timing and process of the home sale program. The Appraised Value Offer has a 60-day acceptance period—60 days to continue marketing your home knowing you have a set “safety net”.  Your 60-day acceptance period begins the day your Offer Letter is postmarked.  You may accept the appraised value offer at any time after marketing your home for 60 days.

Home Sale Program Timeline

[Graphic Omitted] 

You are required to market your home for 90 days from the list date before you are able to accept the Appraised Value Offer.

Accepting the Appraised Value Offer

If you are unable to sell your home during the 60-day offer period and accept the Appraised Value Offer, you and your spouse should sign the GMS Offer Letter and return both copies to your dedicated Relocation Coach along with the other supporting documents.  Your execution of the Offer Letter is a legal transaction.  You will need to sign and notarize the Offer Letter and other related documents.

The signed GMS Offer Letter and related documents must be received by your dedicated Relocation Coach on or prior to the expiration date of your offer.  The contract will be dated on the day all necessary documents are completed and signed by you and your dedicated Relocation Coach.  

Vacating the Home

You have 60 days from the date you sign the GMS Offer Letter in which to vacate the property provided a resale closing does not occur sooner.  If you cannot move within 60 days, please let your dedicated Relocation Coach know and you may be granted additional time to vacate, if circumstances warrant.

After you and GMS have signed the Offer Letter, you will continue to be responsible for the costs of maintenance, repairs, utilities, insurance, etc., until you actually vacate.  Prior to vacating, you will be expected to cooperate fully with all attempts by GMS to market the home by allowing prospective purchasers to view the premises by appointment during reasonable hours.

17

Dollar General Corporation Domestic Relocation Policy, Executives/Senior Officers      

Effective 01/09/2007

From the date you vacate, GMS will make all future mortgage, tax, and other carrying payments on your home.  It will also assume payment of maintenance and utility costs.  Your equity statement will reflect mortgage interest through your executed GMS  contract or vacate date, whichever comes last.  

Utilities

Since sudden cold weather can cause damage due to freezing, do not turn off any utilities when you vacate the home.  The utilities must be left in your name until you contract with GMS or vacate the home, whichever is later.  At that time, you should request final readings from the utility companies serving your home.  Your dedicated Relocation Coach will instruct your real estate agent to transfer the utilities into the real estate company’s name until the home closes with new buyers. The day you vacate is customarily the date utilities are transferred to the real estate company.  If you receive a utility bill covering a period of time when payment was not your responsibility, please submit the invoice to your dedicated Relocation Coach for payment.

Insurance

You will need to cancel your homeowner’s insurance policy effective when GMS signs the Offer Letter or you vacate, whichever is later.  Any refund due to you from the insurance company will be paid directly to you.  Make note to discuss this with your insurance agent and follow-up if necessary.

If you are vacating your home prior to contracting with GMS, contact your insurance agent to arrange coverage during any periods the home will be unoccupied.  Most homeowner’s insurance policies state coverage is void if the dwelling is unoccupied for a specific period of time.

18

Dollar General Corporation Domestic Relocation Policy, Executives/Senior Officers      

Effective 01/09/2007

AMENDED VALUE SALE

Achieving an Amended Value Sale is of benefit to you and the Company.  The Company avoids the significant expense of purchasing, maintaining, and reselling your home through GMS and you receive the highest possible price for your home.

If at any time during your marketing period, you receive an offer through the efforts of your real estate agent, you must submit the offer to your dedicated Relocation Coach. DO NOT SIGN a contract (or any other document) with the buyers or take any money as a deposit from the real estate agent or prospective buyer.

Advantages of an Amended Value Sale

·

You may receive a greater cash net return than the Appraised Value Offer.

·

You will be relieved of the responsibilities of property ownership upon vacate or contract date with GMS, whichever is later.

·

You will be relieved of the necessity of closing with the buyer.

·

After contracting with GMS, you will be assured of receiving the net proceeds based upon the Amended Value Sale even if the original sale falls through and does not close.

Analyzing the Offer

Your dedicated Relocation Coach will review the terms of the offer in an effort to determine whether the offer is bona fide (made in good faith), and to confirm that it is not subject to the sale of the buyer’s property, does not contain any unusual or unreasonable terms, and is not subject to interim financing.

Amending the Offer Letter

Once the final offer has been approved, your dedicated Relocation Coach will ask you to “amend” the amount in your GMS Offer Letter to reflect the buyer’s offer and to sign and return the Offer Letter.  

Buyer’s Offer Less Than Appraised Value Offer

At its discretion, the Company may also accept offers of at least 97% of your Appraised Value Offer.  You will remain eligible to receive your equity calculation based on the Appraised Value Offer.

Closing an Amended Value Sale

GMS will acquire your home, according to the terms of the amended GMS Offer Letter with you.  GMS will also fully honor the terms of the Purchase Agreement with the buyers.

GMS will make every effort to close the transaction with the buyer.  However, since GMS has already purchased your home, you will not be impacted if the sale to the buyer is not eventually consummated.  Your equity payment will be based upon the Amended Value Sale Price.

Responsibility for your property remains with you until you contract with GMS or vacate, whichever is later.  This includes maintenance of your home, payments for utilities, mortgage, taxes, and premiums for insurance.

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Dollar General Corporation Domestic Relocation Policy, Executives/Senior Officers      

Effective 01/09/2007

Equity

Your equity is calculated as of the GMS contract date or your scheduled vacate date, whichever is later, and is based upon the Amended Value sale price or guaranteed offer price, whichever is greater.  You will need to coordinate the timing of your equity check with your dedicated Relocation Coach. You may be eligible to receive an equity advance once you have signed the GMS Offer Letter and when there is a specific need for funds to close on a new home in the destination area.

It is important to note that certain items are not covered under the policy and will be deducted from your final equity, if you have agreed to any of these additional seller’s expenses:

·

repairs and improvements requested by the buyer;

·

buyer’s closing costs;

·

homeowner warranties;

·

buyer’s incentives;

·

real estate commission above the standard rate for your area;

·

closing dates beyond 60 days of vacating or contracting with GMS.

20

Dollar General Corporation Domestic Relocation Policy, Executives/Senior Officers      

Effective 01/09/2007

INDEPENDENT SALE

If your home is considered ineligible for the Company’s Home Sale Assistance Program as set forth on page 12 (Home Eligibility) or you elect to sell your home independently prior to initiation into GMS’ Home Sale Assistance Program, you may be eligible to receive direct reimbursement of standard and actual real estate commission expenses when you sell your home on your own. Contact your dedicated Relocation Coach to determine if your home qualifies for this home sale option.

If your home is eligible for GMS’ home sale assistance and you sell your home on your own, the Company will not provide tax assistance for your home sale commission expenses.

Reimbursement of Expenses

Real estate commission at the prevailing rate in your current location (maximum of 6%) will be reimbursed if you sell your home independently within twelve (12) months of your effective date of transfer.  

Discount points incurred through negotiation with FHA, VA and conventional financing are not reimbursable.

Tax Assistance

You will receive tax assistance for home sale commission expenses only if your home is ineligible for the Home Sale Assistance Program.  If you choose to sell your home on your own, no tax assistance will be provided to you.

21

Dollar General Corporation Domestic Relocation Policy, Executives/Senior Officers      

Effective 01/09/2007

RENTERS’ ASSISTANCE

Lease Cancellation

If you are presently renting your home or apartment, you should immediately notify your landlord or lease holder of your move to avoid or minimize penalty charges.  You should attempt to obtain a written waiver of any provisions of the lease requiring fees or penalties due to your transfer.  The Company asks that you make every effort to minimize the penalties by making the best possible arrangements with your landlord.

Should you be required to pay a penalty, the Company reimburses up to a maximum of two (2) months’ rent for any combination of lease termination penalty charges, forfeiture of lease deposit, and/or duplicate rent on your former home or apartment.  If necessary, your dedicated Relocation Coach can assist you with lease cancellation arrangements.

New Lease Agreement

A new lease should be examined carefully before it is signed.  You should negotiate a cancellation clause that would give you the right to cancel the lease without penalty after giving 30 days notice, in the event of a company-initiated transfer.

Sample Clause:

If tenant’s employer relocates tenant to a location more than fifty (50) miles from the premises that are the subject of this lease, this lease will be automatically terminated without further liability at any time.  Tenant agrees to give landlord at least 30 days notice of his/her intention to terminate this lease along with proof of such transfer of employment.

Tax Assistance

Gross-up will be provided for renters’ assistance reimbursements.

22

Dollar General Corporation Domestic Relocation Policy, Executives/Senior Officers      

Effective 01/09/2007

DESTINATION LOCATION

Planning Your House Hunting Trip

Whether you are a homeowner or a renter, selecting a new community and home is one of the most important decisions you will make as a result of your job transfer.  The Company’s relocation program offers you professional homefinding counseling through GMS.  The Company encourages you to take advantage of this valuable service.

Your dedicated Relocation Coach will discuss your family’s specific needs, preferences, and lifestyle.  After review of your requirements, your dedicated Relocation Coach will select a local real estate professional who is experienced in the areas of interest to you.

Remember to contact your  dedicated Relocation Coach prior to contacting any real estate agent in the new location.

Your dedicated Relocation Coach and real estate agent will work together to organize your house hunting trip so it is productive.  By planning in advance, the agent will be prepared to take you on area tours and discuss items of interest to you and your family.  Preparation gives you a better chance of quickly finding a residence to fit your needs at a price you can afford.

Once your real estate agent is contacted, he or she will provide the following information:

·

schools, churches, etc.,

·

commuting times,

·

child and elder care services, and

·

pre-selected homes for viewing.

If you are a current homeowner, you should delay house hunting in the new location until you have an estimated value on your present home and you have been pre-qualified by a mortgage lender.  Home purchase decisions made with unrealistic expectations of current equity may result in over-commitment at the new location.

Internet Home Search

Although the Internet can be a useful tool to gain information on housing in the new area, keep in mind you need to use the approved real estate agent assigned to you to obtain information or to view any home you find on the Internet.  This will avoid confusion as to which agent you are working with and any possible real estate commission disputes.

23

Dollar General Corporation Domestic Relocation Policy, Executives/Senior Officers      

Effective 01/09/2007

HOME PURCHASE CLOSING COST ASSISTANCE

If you are purchasing a residence in the new location, you will be reimbursed for reasonable and actual home purchase closing costs provided you sign a contract to purchase a home in the new area and close within one year of your effective date of transfer. 

One time closing costs for permanent financing will be reimbursed including:

·

normal attorney’s fees,

·

appraisal fees,

·

tax service fees,

·

title insurance (lender’s coverage, only),

·

recording fees (including tax stamps),

·

credit reports,

·

survey fees,

·

flood certification, and

·

inspections required by the lender.

In addition to all closing costs mentioned, the Company will pay one origination point (fee) to close a new first mortgage.  The Company does not cover one-time closing adjustments such as property taxes, home hazard insurance, fuel adjustments, or private mortgage insurance (PMI).  The Company does not cover the costs associated with establishing second mortgages or home equity lines of credit.

Tax Assistance

Gross-up will be provided for non-deductible home purchase closing costs. 

National Mortgage Lender Program

The Company has selected national mortgage lenders to provide you with a wide variety of mortgage services.  Your dedicated Relocation Coach will provide you with information on participating mortgage companies. 

Using the services of these preferred lenders offers many advantages:

·

familiarity with the Company’s program,

·

mortgage loan pre-approval process,

·

direct billing of closing costs to the Company, and

·

consideration of current spousal income.

New Construction

If you elect to build a home in the new location, you may incur additional expenses as opposed to purchasing an existing home. Be aware in making your decision that policy benefits will not be extended if you decide to build.

24

Dollar General Corporation Domestic Relocation Policy, Executives/Senior Officers      

Effective 01/09/2007

MOVING TO THE NEW LOCATION

To enable you and your family to make an effective transition to the new area, the Company’s relocation program provides for a range of move-related assistance:

·

pre-move survey of your household goods by the moving company;

·

complete packing of all items;

·

transportation of your household goods to your new residence;

·

Up to $75,000 in full replacement valuation coverage for your household goods;

·

unloading, unpacking, and placement of all furniture in your new residence; and

·

storage of your household goods for up to 60 days, if required.

Shipment of Household Goods

You will need to plan to be present during all phases of your move—pack, load, delivery, and unpacking.  Your own planning, preparation, and involvement during the process will contribute to a successful move.

Items Excluded From Shipment

The items listed below are not ordinarily considered household goods and are your responsibility.  The Company, GMS Relocation, and the moving company will not take responsibility for these items.  

The Miscellaneous Expense Allowance is intended to assist you with expenses unique to your personal move and for items not covered by this policy.  Please note the Company will not pay for the shipping of the following items.  If you have any questions, contact your dedicated Relocation Coach.

		
	·

boats

·

campers, trailers, motor homes

·

farm machinery

·

firewood, rocks, sand, soil, etc.

·

perishable food items, refrigerated or frozen

·

aerosol cans, flammable liquids and

other hazardous materials

·

lumber, bricks, blocks, cement, tiles and building materials

	·

airplanes

·

plants, animals

·

large playground equipment

·

tool or storage sheds, outdoor buildings

·

valuables such as jewelry, money, coins, coin and stamp collections, irreplaceable photos, stocks, bonds, deeds, wills, and other legal documents 

Playground and Similar Equipment

Playground, gym equipment, swimming pools, and similar items must be disassembled prior to your move day.  If the movers disassemble and reassemble these items, you will be responsible for payment of these costs at the time of service.

Insurance

Your household goods are protected with up to $75,000 of full replacement valuation coverage.  

25

Dollar General Corporation Domestic Relocation Policy, Executives/Senior Officers      

Effective 01/09/2007

Items of Extraordinary Value (Including Antiques)

It is recommended that items of extraordinary value such as antiques, fine art, furs, silver, china, crystal, photography equipment, oriental rugs, baseball cards, comics, other collectibles, etc. be professionally appraised prior to your move.  If purchased within the last year, the value can be substantiated with a sales receipt.  The Company will not pay for appraisals or any special handling and packaging of antiques or other high-value items.

Packing and Loading

Careful packing and proper loading are very important steps in assuring a successful move.  It is important that the mover packs all your household goods.  The driver will prepare a complete inventory list of your household goods describing the condition of each item (nicks, scratches, dents, etc.).  Review the inventory carefully to make sure you agree with the driver’s description before you sign the inventory.  The inventory is an important document in the settlement of claims for loss and damage.

Unloading

Check with the van driver about delivery times at the new location. Be sure to give them all possible telephone numbers where you can be reached en route and in the new location.

As your goods are being unloaded, you must check off each item on your inventory sheets.  Make notations on the sheets of missing or damaged items immediately and have the driver sign it.  Assembly of furniture will be completed prior to the driver leaving your home.  Unpacking of your goods consists of removing the items from the cartons in the room for which they are labeled.  This does not include putting items away.  Disposal of cartons is included in the move services.

Billing

The van line will send the invoice for your move directly to GMS.  If you transport household goods not covered by the policy or incur unauthorized charges, you will be expected to pay for these items at the time of delivery.

Tipping

Tips to the movers are not covered under this policy.  You may use your Miscellaneous Expense Allowance. 

Shipment of Automobiles

The Company will reimburse mileage at the current business rate for up to two (2) automobiles to be driven to the new location.  In lieu of driving one automobile, the Company will pay to ship your second automobile if the distance to the new location exceeds 300 miles.  

Storage in the New Location

You should make every effort to move directly to your permanent residence.  If necessary, are eligible for the storage of your household goods for up to 60 days.

26

Dollar General Corporation Domestic Relocation Policy, Executives/Senior Officers      

Effective 01/09/2007

Time Off for Moving

Dollar General understands that moving can be a time-consuming, and stressful project.  Therefore, you may need to take some time off from work for this purpose.  At your manager’s approval, Dollar General will allow you up to one week of paid time off for relocation.  During this time it is suggested that you take care of anything relating to your relocation so that you are able to become settled in your new residence and be fully focused on your job upon your return.  Please discuss your plans to take time off for moving with your manager well in advance, so that he or she may plan for your absence.

Travel to the New Location 

You will be reimbursed for one-way transportation for you and your family to travel to the new location.  If you drive, you will be expected to drive a minimum of 300 miles per day and via the most direct route as established by a standard Rand McNally table or equivalent. 

You will be reimbursed for the following reasonable and actual en route expenses:

·

lodging (one night in departure or destination location or en route night as needed),

·

meals, reimbursed up to $25.00/day for adults and $15.00/day for children (original receipts must be submitted),

·

mileage (current business mileage rate), parking, and tolls, and

·

airfare, if necessary (14-day advance purchase required).

27

Dollar General Corporation Domestic Relocation Policy, Executives/Senior Officers      

Effective 01/09/2007

TAX ASSISTANCE

Many reimbursements made to you are considered taxable income.  The Company is required to report all relocation reimbursements as compensation with the exception of items identified below.  For informational purposes, the Company will provide you with a tax assistance sheet that will be prepared and mailed to you in January following your move.

The following expenses are excluded from taxable income:

·

reasonable and normal expenses for the movement of household goods; 

·

up to thirty days (30) of household goods storage while waiting to occupy your residence in the new location; and

·

reasonable and normal expenses for transportation and lodging for you and your eligible family members from your present location to the new location.

The Company will assist in paying the additional tax resulting from taxable relocation reimbursements.  Payments will be made directly to the federal, state, and FICA tax authorities.  It is recommended you seek guidance from a tax professional for any year in which you receive relocation-related services or expense reimbursements.  Accurate expense documentation is very important.

The tax assistance provided to you is based solely on your Company derived income, your filing status, and number of 1040 exemptions. Spouse income, investment income or any other outside income will not be included in the calculations.  Individual variances from the program’s calculations will not be reimbursed.

The additional taxes as calculated by the gross-up program and paid on your behalf will be included on your W-2 as income.  

28

Dollar General Corporation Domestic Relocation Policy, Executives/Senior Officers      

Effective 01/09/2007

TAX TREATMENT TABLE

Keep in mind some relocation items are not eligible for gross-up.  The table below outlines which relocation payments will be tax assisted.  

				
	

Relocation Provision

	

Taxable

	Deductible/ Excludable

	Grossed Up

	Miscellaneous Expense Allowance

	ü

	 	No

	 	 	 	 
	House Hunting

	ü

	 	Yes

	 	 	 	 
	Temporary Living

	ü

	 	Yes

	 	 	 	 
	Home Sale Assistance

	Billed directly to Company

	 	 	 	 
	Independent Sale – eligible

home

Independent Sale – ineligible

home

	ü

ü

	 	No

Yes

	 	 	 	 
	Renters’ Assistance

	ü

	 	Yes

	 	 	 	 
	Home Purchase Closing Cost 

	ü

	Point may be deductible

	Yes

excluding point

	 	 	 	 
	Household Goods Move

	 	ü

	 
	 	 	 	 
	Storage 

	ü

Days over 30

	ü

	Yes

Days over 30

	 	 	 	 
	Travel to the New Location

	Meals &

Mileage greater

than $.18/mile

	Transportation

& Lodging

	Meals &

Mileage greater

than $.18/mile

	 	 	 	 

29

Dollar General Corporation Domestic Relocation Policy, Executives/Senior Officers      

Effective 01/09/2007

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