Marten Transport, Ltd. Executive Officer Base Salary Adjustment Approval (May 2021)
Marten Transport, Ltd.'s Compensation Committee approved increases to the annual base salaries of its named executive officers, effective retroactively from April 5, 2021. The officers affected include the Executive Chairman, Chief Executive Officer and President, Executive Vice President and Chief Financial Officer, and Executive Vice President of Sales and Marketing. The agreement outlines the new salary amounts for each officer and formalizes the committee's approval of these changes.
Exhibit 10.1
Marten Transport, Ltd.
Named Executive Officer Compensation
On May 4, 2021, our Compensation Committee approved an increase to the base salary for each of the company’s named executive officers listed below, retroactive to April 5, 2021. Effective April 5, 2021, the named executive officers will receive the following annual base salaries in the listed positions:
| Name and Position as of May 4, 2021 | Former Base Salary | Base Salary Effective April 5, 2021 | ||||||
| Randolph L. Marten | $ | 735,060 | $ | 735,060 | ||||
| (Executive Chairman) | ||||||||
| Timothy M. Kohl | $ | 543,840 | $ | 675,000 | ||||
| (Chief Executive Officer and President) | ||||||||
| James J. Hinnendael | $ | 329,703 | $ | 370,000 | ||||
| (Executive Vice President and Chief Financial Officer) | ||||||||
| John H. Turner | $ | 324,450 | $ | 350,000 | ||||
| (Executive Vice President of Sales and Marketing) | ||||||||
