Carmike Cinemas, Inc. 2005 Deferred Compensation Amounts for Named Executive Officers

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the 2005 deferred compensation amounts awarded by Carmike Cinemas, Inc. to its named executive officers. Under the company's deferred compensation plan, certain executives receive additional cash compensation, typically 10% of their annual taxable income, which is first contributed to their individual retirement accounts (IRAs) up to legal limits, with any excess placed in a trust. Distributions from the trust occur upon retirement, disability, death, or employment termination. The document lists the specific amounts earned by each executive in 2005 under this arrangement.

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EX-10.4 5 g03120exv10w4.htm EX-10.4 2005 DEFERRED COMPENSATION AMOUNTS FOR NAMED EXECUTIVE OFFICERS EX-10.4 2005 DEFERRED COMPENSATION AMOUNTS  

Exhibit 10.4
CARMIKE CINEMAS, INC.
2005 DEFERRED COMPENSATION AMOUNT
FOR THE NAMED EXECUTIVE OFFICERS
         
    2005 Deferred
Named Executive Officer   Compensation Amount (1)
 
        
Michael W. Patrick
   $ 1,075,823 (2)
President, Chief Executive Officer and Chairman of the Board of Directors
        
 
        
Fred W. Van Noy
   $ 133,278  
Senior Vice President and Chief Operating Officer
        
 
        
Martin A. Durant (3)
   $ 138,891  
Senior Vice President — Finance, Treasurer and Chief Financial Officer
        
 
        
Anthony J. Rhead
   $ 87,907  
Senior Vice President — Film and Secretary
        
 
        
Gary F. Krannacker
   $ 8,345 (4)
Vice President of Operations
        
 
(1)   Pursuant to the Company’s deferred compensation arrangements, the Company pays additional cash compensation equal to 10% of certain named executive officer’s annual taxable compensation (including equity-based compensation). The Company directs this additional cash compensation first into the participant’s individual retirement account, up to the legal limit, with the remainder directed into a trust. Distributions from the applicable trust are made upon or shortly after normal retirement, disability, death or termination of employment of a participant. The amounts set forth in the table equal the amounts earned during 2005 by such officers pursuant to the deferred compensation arrangement.
 
(2)   This amount includes $923,910 earned by Mr. Patrick in 2005 (pursuant to the deferred compensation arrangement) attributable to 260,000 shares of restricted stock which vested on January 31, 2005 pursuant Mr. Patrick’s employment agreement, effective as of January 31, 2002.
 
(3)   Mr. Durant’s retirement was effective March 31, 2006.
 
(4)   Mr. Krannacker is not a participant in the deferred compensation arrangement described in Note 1 above. However, Mr. Krannacker does receive additional cash compensation equal to 5% of his taxable compensation which is contributed to an IRA.