Summary of Director and Executive Officer Compensation for Marsh Supermarkets, Inc.

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation structure for directors and executive officers of Marsh Supermarkets, Inc. Non-employee directors receive an annual retainer of $30,000, with an additional $5,000 for committee chairs, both paid quarterly. Executive officers, including the CEO and other top executives, have specified base salaries and are eligible for bonuses, stock awards, deferred compensation, and standard employee benefits. Employee directors do not receive extra pay for board service. The agreement details current compensation rates and eligibility for various incentive and benefit programs.

Read More Arrow
EX-10.(AO) 3 g95963exv10wxaoy.txt EX-10.(A0) SUMMARY OF DIRECTOR AND EXECUTIVE OFFICER COMPENSATION EXHIBIT 10(ao) SUMMARY OF DIRECTOR AND EXECUTIVE OFFICER COMPENSATION I. DIRECTOR COMPENSATION. Directors who are employees of the Corporation do not receive additional compensation for serving as directors of the Corporation. The following table sets forth current rates of cash compensation for the Corporation's non-employee directors. Annual Retainer $30,000 (payable in quarterly installments) Additional annual fee for the Audit Committee Chair, Compensation Committee Chair, Stock Award $5,000 (payable in quarterly installments) Committee Chair
II. EXECUTIVE OFFICER COMPENSATION. The following table sets forth the current base salaries provided to the Corporation's Chief Executive Officer and four most highly compensated executive officers.
EXECUTIVE OFFICER CURRENT SALARY ----------------- -------------- Don E. Marsh, Chairman of the Board and Chief Executive Officer $1,000,000 David A. Marsh, President and Chief Operating Officer $ 440,000 Jack J. Bayt, President and Chief Operating Officer, Crystal Food Services Division $ 310,000 William L. Marsh, Senior Vice President-Property Management $ 305,000 Daniel L. Cross, President and Chief Operating Officer, Supermarket Division $ 295,000
In addition to their base salaries, the Corporation's Chief Executive Officer and four most highly compensated executive officers are also eligible to: - receive cash bonuses under the Corporation's Management Incentive Plan; - participate in the Corporation's long-term incentive program, which currently involves the award of performance based restricted stock and performance accelerated stock options pursuant to the Corporation's 1998 Stock Incentive Plan; - participate in the Corporation's Deferred Compensation Plan; and - participate in the Corporation's broad-based benefit programs generally available to all full-time employees, including health, disability and life insurance programs.