Amendment No. 1 to Chipotle Mexican Grill, Inc. 2011 Stock Incentive Plan
This amendment, adopted by Chipotle Mexican Grill, Inc.'s Board of Directors, changes the percentage referenced in Section 4 of the company's 2011 Stock Incentive Plan from 10% to 5%. All other terms of the plan remain unchanged. The amendment was approved on December 7, 2011, and is certified by the company's Co-Chief Executive Officer and Secretary.
Exhibit 10.3.1
Amendment No. 1 to
Chipotle Mexican Grill, Inc. 2011 Stock Incentive Plan
The Chipotle Mexican Grill, Inc. 2011 Stock Incentive Plan (the “Plan”) is hereby amended as set forth below.
1. The references to “10%” in the fourth and fifth paragraphs of Section 4 of the Plan are each hereby revised to read “5%.”
Except as set forth above, the Plan shall remain unchanged and in full force and effect.
Certification
The foregoing amendments to the Chipotle Mexican Grill, Inc. 2011 Stock Incentive Plan were duly adopted by the Board of Directors of the Company at a meeting held on December 7, 2011.
| /s/ Montgomery Moran |
| Montgomery Moran, Co-Chief Executive Officer and Secretary |
