Senior Director Letter Agreement between McDonald’s Corporation and Donald G. Lubin
This agreement confirms that Donald G. Lubin will serve as a Senior Director for McDonald’s Corporation starting after the 2004 Annual Meeting. He may attend Board and certain Committee meetings without voting rights, will serve one-year terms (up to three years), and will receive compensation similar to his previous Director role, except for Committee meetings. The company will indemnify him as outlined in its By-Laws. Lubin must sign and return the letter to accept these terms.
Exhibit 10(k)
[McDONALD’S LETTERHEAD]
May 20, 2004
Donald G. Lubin, Esq.
Sonnenschein Nath & Rosenthal
8000 Sears Tower
Chicago, IL 60606
Dear Don:
This letter will acknowledge your agreement to serve as a Senior Director of McDonald’s Corporation, effective immediately following the Company’s 2004 Annual Meeting of Shareholders on May 20, 2004. As you know, your service as a Senior Director shall be at the pleasure of the Board on the following terms and conditions:
| • | You may attend Board meetings and meetings of Committees upon which you served at the time of your retirement as Director, but you shall not have the right to vote at any such meeting. |
| • | Your appointment as a Senior Director shall be designated annually for a one-year term, but you may not serve more than three such one-year terms. |
| • | You shall be compensated in the same manner as you were as a Director, except that you shall not be compensated for attending Committee meetings. |
| • | You shall be expressly indemnified by resolution of the Board of Directors under the provisions of the Company’s By-Laws. |
Please acknowledge your acceptance of these terms of appointment by signing and returning this letter to me at your earliest convenience.
On behalf of the Directors, we thank you for your willingness to continue to share your advice and counsel with the Board and McDonald’s management.
| Sincerely, |
| /s/ Andrew J. McKenna |
| Andrew J. McKenna |
| Accepted as of May 20, 2004 |
| /s/ Donald G. Lubin |
| Donald G. Lubin |
54
