Carmike Cinemas, Inc. 2006 Cash Bonus Targets for Named Executive Officers

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

Carmike Cinemas, Inc. has set cash bonus targets for its named executive officers for 2006. The bonuses for each executive are based on achieving certain financial goals (bonus EBITDA) and non-financial objectives. The actual bonus paid may be higher or lower than the target, depending on performance. The agreement lists the target amounts for each executive and notes that some targets are set by prior employment agreements. This document outlines the company's incentive plan for its top executives for the year ending December 31, 2006.

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EX-10.2 3 g03120exv10w2.htm EX-10.2 2006 CASH BONUS TARGETS FOR NAMED EXECUTIVE OFFICERS EX-10.2 2006 CASH TARGETS FOR EXECUTIVE OFFICERS  

Exhibit 10.2
CARMIKE CINEMAS, INC.
2006 CASH BONUS TARGETS FOR THE NAMED EXECUTIVE OFFICERS
         
Named Executive Officer   2006 Bonus Target (1)
 
        
Michael W. Patrick
   $ 425,000 (2)
President, Chief Executive Officer and Chairman of the Board of Directors
        
 
        
Fred W. Van Noy
   $ 125,000  
Senior Vice President and Chief Operating Officer
        
 
        
Lee Champion (3)
   $ 75,000  
Senior Vice President, General Counsel and Secretary
        
 
        
Richard B. Hare (3)
   $ 137,500  
Senior Vice President — Finance, Treasurer and Chief Financial Officer
        
 
        
Anthony J. Rhead
   $ 125,000  
Senior Vice President — Film and Secretary
        
 
(1)   A portion of the bonus target is tied to the achievement of specified levels of bonus EBITDA; and a portion of the bonus target is tied to non-financial objectives. Depending on actual performance, the actual bonus may be more or less than the target amount.
 
(2)   Mr. Patrick’s bonus target is set pursuant to the terms of his employment agreement with the Company effective as of January 31, 2002.
 
(3)   The Company expects Mr. Hare and Mr. Champion to be named executive officers for the fiscal year ended December 31, 2006.