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GOODLETTSVILLE, Tenn. - Extreme value retailer Dollar General Corporation's board of directors yesterday extended the term of c.e.o. David Perdue's employment contract to March 31, 2008, and made various other amendments to the agreement. The term of Perdue's employment contract with the company had been scheduled to expire on March 31, 2007.
In addition to the extension of the contract, the company increased Perdue's base salary by $100,000 and granted him 365,000 restricted stock units that are scheduled to vest over a three year period.
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Perdue has served as Dollar General's c.e.o. since April 2, 2003 and as the company's chairman of the board since June 2, 2003. Prior to this he served as chairman and c.e.o. of Pillowtex Corporation, a producer and marketer of home textiles, and in executive positions with Reebok International Ltd., Haggar, Inc., and Sara Lee Corporation. Perdue also serves as a director of Alliant Energy Corporation.
Dollar General has 8,190 neighborhood stores that offer consumable basic items that are frequently used and replenished, such as food, snacks, health and beauty aids, and cleaning supplies, as well as a selection of basic apparel, housewares, and seasonal items at everyday low prices.