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Dollar Tree chairman takes pay cut, granted stock options

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April 25, 2008

NEW YORK—Dollar Tree Inc., an operator of discount variety retail stores, on Friday reduced the salary of its Chairman Macon Brock, at his request.

According to a filing with the Securities and Exchange Commission, Brock will now earn $200,000. Brock's salary was $400,000 in 2006, based on the company's most recent regulatory filing regarding executive compensation.

He will also receive options for 21,000 shares of stock. Based on Thursday's closing price of $30.82, Brock's options are worth $647,220.

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