Dollar General Corporation Executive Officer Life Insurance Program Summary
Dollar General Corporation provides a life insurance program for its salaried employees, including executive officers. Under this program, executive officers receive a death benefit equal to 2.5 times their annual base salary, up to $4 million. The insurance may be provided through various types of policies or directly from company assets, at the company's discretion. Some policies may also build cash value, which could benefit either the company or the individual. The program's terms and coverage levels may differ for other salaried employees.
Exhibit 10.36
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 $4 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.
