CARMIKE CINEMAS, INC. 2005 CASH BONUSES FOR THE NAMED EXECUTIVE OFFICERS Named Executive Officer 2005 Cash Bonus (1) Michael W. Patrick $ 667,238 (2)President, Chief Executive Officer and Chairman ofthe Board of Directors Fred W. Van Noy $ 92,688 Senior Vice President and Chief Operating Officer Martin A. Durant (3) $ 76,375 Senior Vice President Finance, Treasurer andChief Financial Officer Anthony J. Rhead $ 88,938 Senior Vice President Film and Secretary Gary F. Krannacker $ 51,415 Vice President of Operations

Contract Categories: Human Resources › Bonus & Incentive Agreements
EX-10.3 4 g03120exv10w3.htm EX-10.3 2005 CASH BONUSES FOR THE NAMED EXECUTIVE OFFICERS EX-10.3 2005 CASH BONUSES FOR EXECUTVE OFFICERS
 

Exhibit 10.3
CARMIKE CINEMAS, INC.
2005 CASH BONUSES FOR THE NAMED EXECUTIVE OFFICERS
         
Named Executive Officer   2005 Cash Bonus (1)
 
        
Michael W. Patrick
   $ 667,238 (2)
President, Chief Executive Officer and Chairman of the Board of Directors
        
 
        
Fred W. Van Noy
   $ 92,688  
Senior Vice President and Chief Operating Officer
        
 
        
Martin A. Durant (3)
   $ 76,375  
Senior Vice President — Finance, Treasurer and Chief Financial Officer
        
 
        
Anthony J. Rhead
   $ 88,938  
Senior Vice President — Film and Secretary
        
 
        
Gary F. Krannacker
   $ 51,415  
Vice President of Operations
        
 
(1)   A portion of the 2005 bonus target was tied to the achievement of specified levels of bonus EBITDA; and a portion of the 2005 bonus target was tied to non-financial objectives. Based on actual 2005 performance, the 2005 bonuses are less than the target amounts previously disclosed in the Company’s Form 8-K filed on May 25, 2005.
 
(2)   The Company previously agreed to pay Mr. Patrick a bonus in any quarter that it pays a dividend equal to the number of shares remaining to be issued pursuant to his employment agreement multiplied by the quarterly dividend per share for such quarter. In 2005, a total of $364,000 was earned by Mr. Patrick in connection with this dividend-related bonus and is included in the bonus amount above. The remaining $303,238 of the 2005 bonus amount is based on 2005 actual performance (as described in Note 1 above).
 
(3)   Mr. Durant’s retirement was effective March 31, 2006.