The Marcus Corporation Non-Employee Director Compensation Plan (Effective February 21, 2018)
This agreement outlines the compensation plan for non-employee directors of The Marcus Corporation. Directors receive an annual cash retainer, stock grants, stock options, and meeting attendance fees. Restricted stock grants vest based on years of service or upon retirement, disability, or death. Additional fees are provided for committee chairs and members, and directors are reimbursed for out-of-pocket expenses. The plan specifies the number of shares and cash amounts for each type of compensation, as well as vesting conditions for stock awards.
Exhibit 10.1
The Marcus Corporation
Non-Employee Director Compensation Plan
Effective February 21, 2018
| 1. | Annual cash retainer: | $16,000 |
| 2. | Yearly annual meeting stock grant retainer (common shares) | 753 Shares |
| 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 | 1,500 Shares |
| 4. | Board meeting attendance cash fee: | $3,750 |
| 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 Annual FYE: 1,000 Shares |
| 6. | Committee chairperson meeting attendance cash fee: | Audit: $2,000 Other: $1,500 |
| 7. | Committee member meeting attendance cash fee: | Audit: $1,500 Other: $1,250 |
| 8. | Reimbursement of out-of-pocket expenses: | Yes |
