Buffalo Wild Wings, Inc. 2005 Executive Officer Compensation Arrangements
Buffalo Wild Wings, Inc. established the 2005 base salaries, incentive bonuses based on 2004 performance, and restricted stock unit grants for its executive officers. The agreement outlines the compensation for each officer, including salary, bonus, and stock units, with vesting conditions tied to company earnings targets. Executive officers also participate in standard benefit plans such as 401(k), medical, and disability plans. The arrangement specifies that restricted stock units vest in thirds annually, contingent on the company meeting at least 95% of its earnings target.
EXHIBIT 10.19
COMPENSATION ARRANGEMENTS FOR EXECUTIVE OFFICERS
FOR FISCAL YEAR 2005
The Buffalo Wild Wings, Inc. Compensation Committee set the 2005 fiscal year base salaries and restricted stock unit grants for the executive officers and determined the amount of incentive bonus for each executive officer based on 2004 performance as set forth below. In addition, the executive officers participate in our 401(k) plan and medical and disability plans, as well as other compensatory plans, contracts and arrangements which are filed as exhibits to our Form 10-K for the year ended December 26, 2004.
| Executive Officer and Title | 2005 Annual Base Salary | 2004 Incentive Bonus | Restricted Stock Units Granted in 2005 | |||||
| Sally J. Smith Chief Executive Officer and President | $ | 400,000 | $ | 304,045 | 11,541 | |||
| Mary J. Twinem Executive Vice President, Chief Financial Officer and Treasurer | $ | 250,000 | $ | 195,457 | 7,213 | |||
| Emil Lee Sanders Senior Vice President, Development and Franchising | $ | 210,000 | $ | 135,840 | 4,847 | |||
| James M. Schmidt Senior Vice President and General Counsel | $ | 200,000 | $ | 138,174 | 4,616 | |||
| Judith A. Shoulak Senior Vice President, Operations | $ | 220,000 | $ | 146,525 | 5,078 | |||
| Kathleen M. Benning Senior Vice President, Marketing and Brand Development | $ | 200,000 | $ | 132,860 | 4,616 | |||
| Craig W. Donoghue Senior Vice President, Information Systems | $ | 175,000 | $ | 112,361 | 4,039 | |||
*These restricted stock units were granted as of December 27, 2004 and vest to the extent of 33-1/3% on the last day of each fiscal year, and the risks of forfeiture lapse as to such increment if the Company achieves 95% of the earnings target established by the Board of Directors.
