Although he just retired as CEO of Cinemark, Alan Stock won’t have to worry about being able to afford the large sized popcorn when he visits the theater. His new job as a consultant for the No. 3 exhibition chain will pay him $1.3M for the rest of 2012, $1M for 2013, and $333,675 for the first four months of 2014, the company says in an SEC filing. He’ll also continue to participate in Cinemark’s welfare benefit plans and insurance programs. He can’t join or assist a competitor during the consulting period, but can invest in up to five theaters as long as they’re at least 25 miles away from a Cinemark venue. He’s subject to a confidentiality agreement “during the Term and thereafter to the fullest extent permitted by law.” Stock and Cinemark also agreed not to say anything nasty about each other. The company said yesterday that Stock wanted to retire, and has been replaced by Tim Warner.
By DAVID LIEBERMAN, Financial Editor | Thursday February 16, 2012 @ 6:00pm ESTTags: Cinemark, Cinemark Alan Stock, Tim Warner
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This article was printed from http://www.deadline.com/2012/02/former-cinemark-ceos-consulting-gig-pays-1m-a-year/
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