Dollar Tree CEO Receives $10M Retention Award

In business, often times a job well done is rewarded with some sort of increased compensation or pay package.

Last week, the Board of Directors for Dollar Tree Inc. rewarded company chief executive officer, Bob Sasser, with a "special one-time retention award of performance-based Restricted Stock Units" worth $10 million.

Sassar earned a pay package worth $6.1 million in 2011, as reported by the Associated Press and the Virginian-Pilot online. But the large retailer, based in Chesapeake, VA, also saw a 13 percent increase in sales to $6.63 billion that same year, according to the news organizations.

In a special form filed on June 19 with the U.S. Securities and Exchange Commission, Dollar Tree board members said:

"The independent directors believe that Mr. Sasser has had a direct impact on the significant increase in Dollar Tree’s share price during his tenure as Chief Executive Officer since 2004. In light of his contributions to increasing long-term shareholder value, the independent directors believe it is in the best interest of the shareholders to provide an additional incentive for Mr. Sasser to remain with the Company."

The news of the compensation bonus did not sit well with some Windsor residents still angry over a decision to allow the on Stone Road and International Drive. The neighborhood group is in Connecticut superior court.

On Facebook, reader John O'Coin questioned why . The town council granted a tax abatement for the company in March with various conditions that must be met for the abatement to go into affect.

In an email, resident Dennis Cicero said that his wife suggested that the state borrow money from Dollar Tree, instead of the other way around.

What do you think of the company's decision to give Sasser a retention bonus for his performance as Dollar Tree CEO? Tell us in the comment section below.