Document:

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:	YesExhibit 10.20

 

__________, 20___

 

«Name»

«Address»

 

Dear «Dear»:

 

I am happy to inform you that you have been granted ______ shares
of so-called “restricted” common stock pursuant to our 2004 Equity and Incentive Awards Plan (the “Plan”)
as outlined below. These shares are referred to as “restricted” because although you will enjoy many of the benefits
of owning these shares (i.e., you will have voting rights and be entitled to receive the dividends and benefit from stock splits
with respect to such shares), the shares will be subject to forfeiture if you cease to serve on the Board of Directors prior to
the “vesting” of such shares in accordance with the vesting schedule set forth below. In addition, you will not be
able to publicly sell these shares until after they vest, at which time any sales must be made in accordance with Rule 144 promulgated
under the Securities Act of 1933, as amended (the “Securities Act”). In addition to the terms and conditions specified
in this award letter, your shares of restricted common stock are subject to the terms and conditions of the Plan.

 

	Grant Date:	__________, 20___
	Vesting Schedule:	
        ·     50%
        upon the second anniversary of the grant date while serving on the Board

        ·     The
remaining 50% upon the fourth anniversary of the grant date while serving on the Board

        ·     100%
upon your eligibility for normal retirement from the Board or disability (each as determined by the Company’s Compensation
Committee) or upon your death

 

The stock certificates representing your restricted shares will
be held by the company until the portion thereof vests.

 

Important Tax Considerations. Unless you make
the so-called “IRC Section 83(b)” election described in the following paragraph: (i) you will not recognize taxable
income at the time of the grant of your restricted common stock; (ii) you will recognize ordinary taxable income at the time each
portion of your restricted common stock vests in an amount equal to the then fair market value of such vested shares; (iii) thereafter
any otherwise taxable disposition of your vested shares of restricted common stock (including any sale of such shares or transfer
of such shares to the Company in connection with an exercise of stock options, but not including a gift of the shares) will generally
result in capital gain or loss (long-term or short-term depending upon the length of time the restricted common stock is held after
the time the shares vest); (iv) dividends paid in cash and received by you prior to the time the restrictions lapse will constitute
ordinary income to you in the year paid (but will not constitute qualified dividend income subject to the 15% tax rate);
and (v) any dividends paid in stock will be treated as an award of additional restricted common stock subject to the tax treatment
described above.

 

If you desire, within 30 days after the Grant Date, you
may elect to recognize ordinary income as of such date in an amount equal to the fair market value of all your restricted common
stock on the Grant Date. If this so-called “IRC Section 83(b)” election is made, then you will not recognize ordinary
income at the time each portion of your restricted common stock vests. In addition, if you make this IRC Section 83(b) election,
then the disposition of your restricted common stock will result in a long-term capital gain or loss unless you retire and make
a taxable disposition within 1 year after the grant of the restricted common stock (in which case your disposition will
result in a short-term capital gain or loss). If you make this IRC Section 83(b) election and subsequently forfeit the restricted
common stock, however, you will not be entitled to deduct any loss. If you wish to make this IRC Section 83(b) election, please
contact me as soon as possible. You should consult with your tax advisor to determine the tax consequences of acquiring
the restricted common stock and the advantages and disadvantages of filing the IRC Section 83(b) election. By accepting this award
letter and signing below, you acknowledge that it is your sole responsibility, and not ours, to file a timely election under IRC
Section 83(b), even if you request that we or our representatives make this filing on your behalf.

 

    	 

     

    

 

Market Stand-Off. As a condition of receiving
your restricted common stock, you agree that, in connection with any underwritten public offering by us of our equity securities
pursuant to an effective registration statement filed under the Securities Act, you will not directly or indirectly sell, make
any short sale of, loan, hypothecate, pledge, offer, grant or sell any option or other contract for the purchase of, purchase any
option or other contract for the sale of, or otherwise dispose of or transfer or agree to engage in any of the foregoing transactions
with respect to, any shares acquired under this award without our prior written consent and the consent of our underwriters. This
restriction will be in effect for such period of time following the date of the final prospectus for the offering as may be requested
by us or our underwriters. In no event, however, will such period exceed one hundred eighty (180) days. In addition, if required
by our underwriters, you agree to enter into a lock-up agreement with respect to any shares acquired under this award.

 

Other Provisions. This award letter can be amended
only by written consent signed by both you and us, unless the amendment is not to your detriment or the Plan permits us to amend
this award letter without your consent. If we fail to enforce any provision of this award letter at any time, that failure will
in no way constitute a waiver of such provision or of any other provision hereof. If any provision of this award letter is held
illegal, unenforceable or invalid for any reason, such illegality, unenforceability or invalidity will not affect the legality,
enforceability or validity of the remaining provisions of the award letter, and the award letter will be construed and enforced
as if the illegal, unenforceable or invalid provision had not been included in the letter. The award letter will be binding on
and inure to the benefit of you and your heirs and personal representatives and us and our successors and legal representatives.

 

Sincerely,

 

THE MARCUS CORPORATION

 

Authorized Officer

 

By your signature below, you acknowledge receipt of this grant
of restricted common stock, which shares have been granted to you under the Plan, in accordance with the terms set forth above
and on the date shown above. As a condition of receiving this grant, you acknowledge having read this award letter and the Plan
and you agree that any interpretation by the Company of the terms hereof or the Plan shall be final, binding and conclusive on
you and your legal representatives in all respects and shall not be subject to challenge or dispute by you or your legal representatives.

 

	Signature:	 	 	Date:	 
	 	«Signature»	 	 	 

 

    	 	2Exhibit 10.21

 

THE MARCUS CORPORATION

2004 EQUITY AND INCENTIVE AWARDS PLAN

RESTRICTED STOCK AGREEMENT

 

THIS RESTRICTED STOCK
AGREEMENT (“Agreement”) is made and entered into as of the grant date specified on the attached cover page (the
“Grant Date”) by and between THE MARCUS CORPORATION, a Wisconsin corporation (the “Company”), and the Participant
named on the attached cover page (the “Participant”).

 

WITNESSETH:

 

WHEREAS, the terms
of The Marcus Corporation 2004 Equity and Incentive Awards Plan (the “Plan”), to the extent not stated herein, are
specifically incorporated by reference in this Agreement and defined terms used herein which are not otherwise defined shall have
the meaning set forth in the Plan;

 

WHEREAS, the Plan
provides for the grant of various equity-based incentive awards, including grants of restricted shares of the Company’s Common
Stock, $1 par value (“Common Stock”), to be granted to certain key employees of the Company or a subsidiary thereof;

 

WHEREAS, the Participant
is now employed by the Company or a subsidiary thereof in a key capacity and has exhibited judgment, initiative and efforts which
have contributed materially to the successful performance of the Company; and

 

WHEREAS, the Company
desires to grant the Participant the Restricted Stock (as defined below) in recognition of Participant’s past and expected
future efforts as an employee of the Company or a subsidiary thereof and to provide the Participant with the opportunity to increase
his stock ownership in the Company.

 

NOW, THEREFORE,
in consideration of the premises and of the covenants and agreements herein set forth, the parties hereby mutually covenant and
agree as follows:

 

1.    Grant
of Restricted Stock. Subject to the terms and conditions of the Plan and this Agreement, the Company hereby grants the Participant
the number of shares of Common Stock set forth on the attached cover page (the “Restricted Stock”).

 

2.    Restrictions.
The Restricted Stock may not be sold, transferred, pledged, assigned or otherwise alienated or hypothecated. Notwithstanding the
foregoing, except as otherwise provided in Section 3, such restrictions shall lapse and the Restricted Stock shall vest with respect
to the following amounts of Restricted Stock in accordance with the following schedule provided that the Participant is then still
employed by the Company or a subsidiary on the relevant date below:

 

	Elapsed Period of Time after the Grant Date	 	Cumulative
    Percentage of

    Restricted Stock no Longer 

    Subject to Restrictions	 
	Prior to the second anniversary of the Grant Date	 	 	0	%
	From and after the second anniversary of the Grant Date	 	 	50	%
	From and after the fourth anniversary of the Grant Date or the date referred to in paragraph 3(a)	 	 	100	%

 

    	 

     

    

 

The period during which any of the Restricted
Stock is subject to the restrictions in this Section 2 shall hereinafter be referred to as the “Restriction Period”
with respect to the portion of the shares of Restricted Stock still subject to restriction. The Committee, as the administrator
of the Plan, may, at any time or from time to time, accelerate all or any part of the Restriction Period with respect to all or
any portion of the Restricted Stock.

 

3.    Termination
of Employment; Change in Control.

 

(a)    If
the Participant dies while he is in the employ of the Company or any subsidiary, or if his employment is terminated by reason of
his retirement in accordance with the then effective retirement plan or policy of the Company or any subsidiary, or his permanent
disability, the Restriction Period shall automatically terminate and all of the shares of the Restricted Stock shall be free of
all restrictions imposed by Section 2.

 

(b)    If
the Participant’s employment is terminated by the Company or any subsidiary for any reason or if the Participant terminates
his employment with the Company or any subsidiary for any reason (other than, in each case, one of the reasons set forth in Section
3(a)), then any shares of Restricted Stock which then remain subject to the restrictions of Section 2 at the date of such termination
shall automatically be forfeited and returned to the Company.

 

4.    Deposit
of Restricted Shares. One or more certificates evidencing the shares of Restricted Stock shall be issued by the Company in
the Participant’s name. The Company shall cause the issued certificate(s) to be delivered to the Secretary of the Company
(or his designee) as a depository for safekeeping until a forfeiture occurs or the restrictions imposed by Section 2 hereof terminate.
Promptly after the restrictions imposed by Section 2 hereof terminate with respect to some or all of the shares of Restricted Stock,
the Company shall deliver stock certificates representing such shares to Participant. Upon request of the Company, Participant
shall deliver to the Company a stock power, endorsed in blank, relating to the Restricted Stock then subject to the restrictions
of Section 2.

 

5.    Securities
Law Restrictions; Market Stand-Off. In addition to the restrictions set forth above, the shares of Restricted Stock granted
hereunder may not be sold or offered for sale except pursuant to an effective registration statement under the Securities Act of
1933, as amended (the “Act”), or in a transaction which, in the opinion of legal counsel for the Company, is exempt
from the registration provisions of the Act. In connection with any underwritten public offering by the Company of its equity securities
pursuant to an effective registration statement filed under the Act, you agree that you shall not directly or indirectly sell,
make any short sale of, loan, hypothecate, pledge, offer, grant or sell any option or other contract for the purchase of, purchase
any option or other contract for the sale of, or otherwise dispose of or transfer or agree to engage in any of the foregoing transactions
with respect to, any shares acquired under this Agreement (whether or not subject to restrictions or risk of forfeiture at the
time of such offering) without the prior written consent of the Company and the Company’s underwriters. Such restriction
shall be in effect for such period of time following the date of the final prospectus for the offering as may be requested by the
Company or such underwriters. In no event, however, shall such period exceed one hundred eighty (180) days. In addition, if required
by underwriters for the Company, you agree to enter into a lock-up agreement with respect to any shares acquired under this Agreement.

 

    	 	-2-	 

     

    

 

6.    Voting
Rights; Dividends and Other Distributions. During the Restriction Period and prior to any forfeiture of the Restricted Stock,
the Participant will, subject to the restrictions set forth in Section 2, have all rights as a shareholder with respect to the
shares of Restricted Stock which then remain subject to such restrictions (including voting rights and the right to receive dividends
or other distributions the record date for which occurs prior to the forfeiture of the Restricted Stock); provided, however,
that if any such dividends or distributions are paid in stock of the Company, such shares shall be subject to the same restrictions
and risk of forfeiture as the Restricted Stock with respect to which they were paid.

 

7.    Tax
Withholding.

 

(a)    No
later than the date as of which an amount first becomes includable in the Participant’s gross income for federal income tax
purposes with respect to the Restricted Stock, the Participant shall pay to the Company, or make arrangements satisfactory to the
Company regarding the payment of, any federal, state, local or foreign taxes of any kind required by law to be withheld with respect
to such amount. The obligations of the Company under this Agreement and the Plan, including the obligation to release from custody
the Restricted Stock upon the expiration of the Restriction Period, shall be conditional on the Participant making such payment
or arrangements, and the Company and any Affiliate shall, to the extent permitted by law, have the right to deduct any such taxes
from any payment otherwise due to the Participant.

 

(b)    The
Participant shall be permitted to satisfy the Company’s tax withholding requirements by delivering shares of previously owned
Common Stock having a fair market value (as determined by the Committee) on the date income is recognized by the Participant (the
“Tax Date”) equal to the minimum amount required to be withheld. If the number of shares of Common Stock determined
pursuant to the preceding sentence shall include a fractional share, the number of shares delivered shall be reduced to the next
lower whole number and the Participant shall deliver to the Company cash in lieu of such fractional share, in an amount equal to
the Common Stock’s then fair market value as determined by the Committee, or otherwise make arrangements satisfactory to
the Company for payment of such amount.

 

8.    No
Right to Employment. It is fully understood that nothing contained in this Agreement or the Plan shall be deemed to confer
upon the Participant any right to continue in the employ of the Company or any subsidiary, nor to interfere in any way with the
right of the Company or any subsidiary to terminate the employment of the Participant at any time for any reason.

 

9.    Interpretation
by Committee. As a condition of the granting of the Restricted Stock, the Participant agrees, for himself and his legal representatives,
that the Plan and this Agreement shall be subject to discretionary interpretation by the Committee and that any interpretation
by the Committee of the terms of the Plan and this Agreement shall be final, binding and conclusive on the Participant and his
legal representatives in all respects and shall not be subject to challenge or dispute by the Participant or his legal representatives.

 

10.    Modification.
Subject to the applicable provisions of the Plan, at any time and from time to time the Committee may direct execution of an instrument
providing for the modification, extension or renewal of this Agreement; provided, however, that no such modification,
extension or renewal shall (a) confer on the Participant any right or benefit which could not be conferred on him by a grant of
restricted shares of Common Stock under the Plan at such time or (b) except to the extent the Committee determines that such modification,
extension or renewal is in the best interest of the Participant or any other person(s) as may then have an interest in the Restricted
Stock, materially and adversely affect the value of the Restricted Stock without the written consent of the Participant.

 

    	 	-3-	 

     

    

 

11.    Miscellaneous.

 

(a)    If
the Company fails to enforce any provision of this Agreement at any time, that failure will in no way constitute a waiver of such
provision or of any other provision hereof.

 

(b)    If
any provision of this Agreement is held illegal, unenforceable or invalid for any reason, such illegality, unenforceability or
invalidity will not affect the legality, enforceability or validity of the remaining provisions of this Agreement, and the Agreement
will be construed and enforced as if the illegal, unenforceable or invalid provision had not been included in the Agreement.

 

(c)    This
Agreement will be binding on and inure to the benefit of the Participant and the Participant’s heirs and personal representatives
and to benefit of the Company and its successors and legal representatives.

 

    	 	-4-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00280-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00280-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00280-of-00352.parquet"}]]