Marten Transport, Ltd. Executive Officer Base Salary Adjustment Approval (August 2020)
Marten Transport, Ltd.'s Compensation Committee approved increases to the annual base salaries of its named executive officers, effective retroactively to April 6, 2020. The officers affected are Randolph L. Marten (Chairman and CEO), Timothy M. Kohl (President), James J. Hinnendael (EVP and CFO), and John H. Turner (EVP of Sales and Marketing). The agreement outlines the new salary amounts for each executive, formalizing the company's compensation adjustments for these key positions.
Exhibit 10.27
Marten Transport, Ltd.
Named Executive Officer Compensation
On August 18, 2020, our Compensation Committee approved an increase to the base salary for each of the company’s named executive officers listed below, retroactive to April 6, 2020. Effective April 6, 2020, the named executive officers will receive the following annual base salaries in the listed positions:
| Name and Position | Former Base Salary | Base Salary Effective April 6, 2020 |
| Randolph L. Marten | $713,650 | $735,060 |
| (Chairman and Chief Executive Officer) | ||
| Timothy M. Kohl | $528,000 | $543,840 |
| (President) | ||
| James J. Hinnendael | $320,100 | $329,703 |
| (Executive Vice President and Chief Financial Officer) | ||
| John H. Turner | $315,000 | $324,450 |
| (Executive Vice President of Sales and Marketing) |
