Workers at Mike Ashley's Frasers Group - including Sports Direct and House of Fraser - are now in line for bonuses worth up to £1million each.
The news comes after shareholders voted overwhelmingly in favour of approving the employee bonus scheme - which could pay out £100million to staff.
The company said the bonus scheme would be open to the "vast majority" of its 30,000 workers, who will receive either cash or share awards.
But some staff might be in line for life-changing payouts.
The firm said it would make 1,000 staff eligible for share awards potentially worth up to £1million - 10 people would get the maximum payout with others of the qualifying group getting awards worth between £50,000 and £500,000.
The 1,000 workers would qualify for the extra bonus by demonstrating "outstanding performance", the firm said.
Other workers will also get bonuses - depending on on length of service.
Those having worked at the group for four years or more potentially in line for a cash bonus worth up to four weeks' salary.
The scheme will not include the group's directors and consultants.
But the payout will only be triggered if shares more than double within the next four years to at least £10 and for a sustained period. Shares in the group closed on Tuesday at 360.8p.
Frasers insisted the share price target was "realistic".
David Daly, chairman of Frasers Group, said: "This scheme strikes the right balance between rewarding as many of our people as possible whilst also potentially paying life-changing sums to those who make the most outstanding contributions.
"These are challenging times but we believe that a £10 share price is a realistic target as our elevation strategy continues to go from strength to strength."
But city analysts expressed scepticism over Fraser's £10 share price target.
Jonathan Pritchard, a retail expert at Peel Hunt, said: "There's an enormously higher profit base that they're alluding to to get to £10 a share.
"I'm all ears as to the road map of how to get to £10."
