Marten Transport, Ltd. Executive Officer Compensation Adjustment Agreement (2018)
Marten Transport, Ltd. has approved an increase in the annual base salaries for its named executive officers, effective retroactively from April 2, 2018. The agreement lists the new and former base salaries for five executives, including the Chairman and CEO, President, Executive Vice Presidents, and Senior Vice President of Sales. This adjustment was approved by the company's Compensation Committee on May 8, 2018.
Exhibit 10.1
Marten Transport, Ltd.
Named Executive Officer Compensation
On May 8, 2018, our Compensation Committee approved an increase to the base salary for each of the company’s named executive officers listed below, retroactive to April 2, 2018. Effective April 2, 2018, the named executive officers will receive the following annual base salaries in the listed positions:
| Name and Position as of May 8, 2018 | Former Base Salary | Base Salary Effective April 2, 2018 | ||||||
| Randolph L. Marten | $ | 659,800 | $ | 686,200 | ||||
| (Chairman and Chief Executive Officer) | ||||||||
| Timothy M. Kohl | $ | 488,200 | $ | 507,700 | ||||
| (President) | ||||||||
| Timothy P. Nash | $ | 339,100 | $ | 352,700 | ||||
| (Executive Vice President of Sales and Marketing) | ||||||||
| James J. Hinnendael | $ | 285,000 | $ | 307,800 | ||||
| (Executive Vice President and Chief Financial Officer) | ||||||||
| John H. Turner | $ | 272,400 | $ | 283,300 | ||||
| (Senior Vice President of Sales) | ||||||||
