The Marcus Corporation Non-Employee Director Compensation Plan (Effective December 27, 2019)
This agreement outlines the compensation plan for non-employee directors of The Marcus Corporation. Directors receive an annual cash retainer, stock grants, and stock options, as well as fees for attending board and committee meetings. Vesting of certain stock grants depends on years of service or retirement, disability, or death. The plan also provides reimbursement for out-of-pocket expenses. The terms are set by the company’s Compensation Committee and are effective as of December 27, 2019.
Exhibit 10.1
The Marcus Corporation
Non-Employee Director Compensation Plan
Effective December 27, 2019
1. | Annual cash retainer: | $25,000 |
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2. | Yearly annual meeting stock grant retainer (common shares) | 753 Shares |
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3. | Annual FYE restricted stock grant (common shares): Vesting to occur upon the earlier of (i) 100% upon eligibility for normal retirement from the Board or disability (each as determined by the Company’s Compensation Committee) or upon death; or (ii) 50% upon the second anniversary of the grant date while still serving on the Board and the remaining 50% upon the fourth anniversary of the grant date while still serving on the Board | 1,250 Shares |
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4. | Board meeting attendance cash fee: | $5,500 |
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5. | Non-qualified stock option grant (common shares): Fair market value exercise price (closing sale price) Fully vested and immediately exercisable at grant date | Initial: 1,000 Shares |
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6. | Committee chairperson meeting attendance cash fee: | Audit: $2,500 Other: $2,000 |
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7. | Committee member meeting attendance cash fee: | Audit: $2,000 Other: $1,750 |
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8. | Reimbursement of out-of-pocket expenses: | Yes |
