Document:

amch_Ex10_25

		
			EXHIBIT 10.25
		

		
			AMC ENTERTAINMENT HOLDINGS, INC.
		

		
			ANNUAL INCENTIVE COMPENSATION PROGRAM
		

		
			CONTINUING STRUCTURE
		

		
			(As Modified by the Compensation Committee February 13, 2017)
		

		
			 
		

		
			AMC Entertainment Holdings, Inc. (along with all of its subsidiaries, the “Corporation”) shall have an Annual Incentive Compensation Program (“AIP”) structured as set forth below.  The AIP shall automatically be continued for each of the Corporation’s fiscal years until terminated or revised by the Compensation Committee.
		

		
			 
		

			
	
			
				 1.
			

			
	
			
			Structure:  Each participant shall have an incentive at target based upon a percentage of his or her base salary (the “Incentive at Target”).  The Incentive at Target shall be allocated between (i) a component paid out based upon attainment of the Company Performance Target (defined below) during the applicable fiscal year (the “Company Component”) and (ii) a component paid out based on the participant’s achievement of individual Key Performance Metrics with supervisory discretion during the applicable fiscal year (the “Individual Component”).

			
	
			
				 2.
			

			
	
			
			 Participation:

			
	
			
				 a.
			

			
	
			
			Named Executive Officers:  The Corporation’s Named Executive Officers (as determined pursuant to SEC Rules), shall participate in the AIP at the following Incentive at Target levels and allocations:

			
					
						Name

					
					
						Position

					
					
						Target
(% of Salary)

					
					
						Mix
Company/Individual

				
	
					
						Adam Aron

					
					
						President & CEO

					
					
						200%

					
					
						100/0

				
	
					
						Craig Ramsey

					
					
						EVP & Chief Financial Officer

					
					
						70%

					
					
						100/0

				
	
					
						John McDonald

					
					
						EVP, US Operations

					
					
						70%

					
					
						80/20

				
	
					
						Elizabeth Frank

					
					
						EVP, Chief Content & Programming Officer

					
					
						65%

					
					
						80/20

				
	
					
						Mark McDonald

					
					
						EVP, Development

					
					
						65%

					
					
						80/20

				

			
	
			
				 b.
			

			
	
			
			Other Employees:  All other participants along with their Incentive at Target level and allocation shall be determined at the discretion of the CEO in consultation with the SVP Human Resources.

			
	
			
				 3.
			

			
	
			
			Payout:  Unless otherwise provided in a written agreement with the employee, an employee must remain employed on the last day of the applicable fiscal year to be eligible for any payout under the AIP and employees hired after the beginning of the applicable fiscal year shall have their payouts prorated.

			
	
			
				 a.
			

			
	
			
			Company Component:  The Company Component payout shall be determined based upon the attainment as certified by the Compensation Committee of the Company Performance Target.  

			
	
			
				i.
			

			
	
			
			Company Performance Target:  The Company Performance Target (adopted pursuant to Section 10 of the Corporation’s 2013 Equity Incentive Plan) shall be the Adjusted EBITDA (as defined in the Corporation’s 10-K, but excluding cash distribution from non-consolidated subsidiaries) provided for in the Corporation’s annual financial performance plan for the applicable fiscal year as approved by the Board of Directors (the “Financial Plan”).    

		
			 
		

			
	
			
				ii.
			

			
	
			
			Payout Scale:  The Company Component payout shall be on a scale as set forth on Exhibit A attached hereto (payout for performance that falls between two stated levels shall be determined by linear interpolation).

		
			

		 

 

		

		
			 
		

			
	
			
				iii.
			

			
	
			
			Supplemental Net Income Threshold for the CEO & CFO:  The Compensation Committee shall have discretion with regard to the CEO and CFO to reduce the Company Component Payout as provided above in the event the Corporation fails to achieve at least 80% of the net income provided for in the Financial Plan (the “Net Income Threshold”).  Determination of achievement of the Net Income Threshold shall be made by the Compensation Committee, but shall exclude the impacts of the following:

			
	
			
				 1.
			

			
	
			
			Gains or losses from the Corporation’s investment in National Cinemedia LLC, including gains or losses from the sale or disposition of all or a portion of the Corporation’s ownership interest (including as-converted shares of National Cinemedia, Inc.) or from adjustments due to changes in the underlying value of the shares of National Cinemedia, Inc.

			
	
			
				 2.
			

			
	
			
			Losses from discontinued Canadian operations.

			
	
			
				 3.
			

			
	
			
			Expenses related to mergers and acquisitions approved by the Board.

			
	
			
				 4.
			

			
	
			
			Gains or losses from Board approved refinancing of debt obligations related to acquisition activity and/or resulting in lower outstanding debt or cash interest expense.

			
	
			
				 5.
			

			
	
			
			Gains or losses from one time significant or unusual items, subject to Compensation Committee review and approval. 

			
	
			
				 b.
			

			
	
			
			Individual Component:  The Individual Component payout shall be determined as follows:

			
	
			
				i.
			

			
	
			
			Named Executive Officers:  The payout shall be determined by the Compensation Committee in consultation with the CEO.

			
	
			
				ii.
			

			
	
			
			Other Participants:  The payout shall be determined by each participant’s supervisor subject to parameters established by the CEO in consultation with the SVP Human Resources.

		
			 
		

		
			

		 

 

		

		
			PAYOUT SCALE
		

			
					
						AEBITDA

					
					
						PAYOUT

				
	
					
						Attained

				
	
					
						%

					
					
						%

				
	
					
						80.0%

					
					
						0.0%

				
	
					
						81.0%

					
					
						10.0%

				
	
					
						82.0%

					
					
						20.0%

				
	
					
						83.0%

					
					
						30.0%

				
	
					
						84.0%

					
					
						40.0%

				
	
					
						85.0%

					
					
						45.0%

				
	
					
						86.0%

					
					
						50.0%

				
	
					
						87.0%

					
					
						56.0%

				
	
					
						88.0%

					
					
						62.0%

				
	
					
						89.0%

					
					
						68.0%

				
	
					
						90.0%

					
					
						74.0%

				
	
					
						91.0%

					
					
						80.0%

				
	
					
						92.0%

					
					
						86.0%

				
	
					
						93.0%

					
					
						89.0%

				
	
					
						94.0%

					
					
						92.0%

				
	
					
						94.8%

					
					
						94.4%

				
	
					
						95.0%

					
					
						95.0%

				
	
					
						96.0%

					
					
						96.0%

				
	
					
						97.0%

					
					
						97.0%

				
	
					
						98.0%

					
					
						98.0%

				
	
					
						99.0%

					
					
						99.0%

				
	
					
						100.0%

					
					
						100.0%

				
	
					
						101.0%

					
					
						105.0%

				
	
					
						102.0%

					
					
						110.0%

				
	
					
						103.0%

					
					
						115.0%

				
	
					
						104.0%

					
					
						120.0%

				
	
					
						105.0%

					
					
						125.0%

				
	
					
						106.0%

					
					
						130.0%

				
	
					
						107.0%

					
					
						135.0%

				
	
					
						108.0%

					
					
						140.0%

				
	
					
						109.0%

					
					
						145.0%

				
	
					
						110.0%

					
					
						150.0%

				
	
					
						111.0%

					
					
						155.0%

				
	
					
						112.0%

					
					
						160.0%

				
	
					
						113.0%

					
					
						165.0%

				
	
					
						114.0%

					
					
						170.0%

				
	
					
						115.0%

					
					
						175.0%

				
	
					
						116.0%

					
					
						180.0%

				
	
					
						117.0%

					
					
						185.0%

				
	
					
						118.0%

					
					
						190.0%

				
	
					
						119.0%

					
					
						195.0%

				
	
					
						120.0%

					
					
						200.0%Exhibit

Exhibit 10.25

Amendment No. 1  
to
AMENDED AND RESTATED RETAINER PLAN FOR  
ELIGIBLE DIRECTORS OF 
TOMPKINS  FINANCIAL  CORPORATION 
AND ITS WHOLLY-OWNED  SUBSIDIARIES

This Amendment No. 1 (the “Amendment”) is hereby made to that certain Amended and Restated Retainer Plan (the "Plan") for Eligible Directors of Tompkins Financial Corporation and its wholly-owned subsidiaries (referred to collectively as the “Company”), as filed with the Company’s Annual Report on Form 10-K for the fiscal year ended 12/31/2008.  All capitalized terms used herein but not defined shall have the meanings ascribed to such terms in the Plan.

The purpose of this Amendment is to clarify the manner and method by which Eligible Directors may elect to receive their compensation for services on and after January 1, 2018.

		
	1.
	 Section 1 of the Plan is hereby amended and restated in its entirety, as follows:

“1.  General.  This Amended and Restated Retainer Plan (the "Plan") for Eligible Directors of Tompkins Financial Corporation and its wholly-owned subsidiaries (referred to collectively as the “Company”), provides that Eligible Directors (defined below) may elect to receive their compensation (collectively, “Fees”) payable for services as a member of the Board of Directors of the Company or any committee thereof in the following manner (each, a “Manner of Payment”):

		
	a.
	In shares of common stock, par value $0. l 0 per share, of Tompkins Financial Corporation, pursuant to Section 5 of this Plan ("Deferred Stock Compensation"); and/or,

		
	b.
	In deferred cash compensation, pursuant to Section 6 of this Plan ("Deferred  Cash    Compensation"); and/or,

		
	c.
	In cash;

provided, however, that the Tompkins Financial Corporation Board of Directors (the “TFC Board”) may, via resolution, establish policies governing an Eligible Director’s eligibility to receive compensation via one or more Manners of Payment.  Fees will be payable at the beginning of each quarter, in such amounts as the TFC Board may determine from time to time by resolution. For any Fees earned on and after January 1, 2018, and further subject to an Eligible Director's Valid Election, such Fees shall be paid in any combination of Manner of Payment above (unless otherwise limited by the TFC Board), except that only one Manner of Payment may be elected for each category of Fee.  By way of illustration but not limitation, a director could elect to take the retainer portion of her 2018 Fees as Deferred Stock Compensation, and the committee service portion of her 2018 Fees as Cash, but she could not elect to take 50% of her retainer as Deferred Stock Compensation and 50% as cash.  If the allocation of Fees across the available payment options results in a fraction, such fraction shall be rounded to the nearest dollar.

This Plan is an amendment to and restatement of that certain Stock Retainer Plan for Eligible Directors of Tompkins Trustco, Inc. and Participating Subsidiaries, filed on May 12, 2005 with the SEC as Exhibit 10.l to Current Report on Form 8-K of Tompkins Financial Corporation (f/k/a Tompkins Trustco, Inc.). This Plan shall also replace in their entirety any and all Deferred Compensation Agreements made between Tompkins Trust Company and Eligible Directors. This Plan shall not replace, alter or amend any Deferred Compensation Agreements currently existing between The Bank of Castile and certain Eligible Directors.”

2.  This Amendment will be deemed effective as of December 31, 2017.  Except as expressly provided in this Amendment, all of the terms and provisions of the Plan, including all existing payment elections thereunder, are and will remain in full force and effect.

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