SEC Contract Filing

Filing Date: 2017-12-01

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>cmg-20171201xex10_1.htm
<DESCRIPTION>EX-10.1
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 12117_Exhibit 101_Executive Chairman Agreement
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 <font style="display: inline;">EX</font><font style="display: inline;">HIBIT 10.1</font>

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 <a name="_GoBack"></a><font style="display: inline;">Executive Chairman </font><font style="display: inline;">Agreement</font>
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 <font style="display: inline;">THIS </font><font style="display: inline;">EXECUTIVE CHAIRMAN </font><font style="display: inline;">AGREEMENT (this &#x201C;</font><font style="display: inline;text-decoration:underline;">Agreement</font><font style="display: inline;">&#x201D;), dated as of </font><font style="display: inline;">November&nbsp;28</font><font style="display: inline;">, 2017, is entered into by and between Chipotle Mexican Grill, Inc., a Delaware corporation (the &#x201C;</font><font style="display: inline;text-decoration:underline;">Company</font><font style="display: inline;">&#x201D;), and Steve Ells (the &#x201C;</font><font style="display: inline;text-decoration:underline;">Executive</font><font style="display: inline;">&#x201D;).</font>
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 <font style="display: inline;">WHEREAS, the Executive currently serves as (a)&nbsp;Chief Executive Officer of the Company</font><font style="display: inline;"> (&#x201C;</font><font style="display: inline;text-decoration:underline;">CEO</font><font style="display: inline;">&#x201D;)</font><font style="display: inline;">, and (b)&nbsp;Chairman of the Board of Directors of the Company (the &#x201C;</font><font style="display: inline;text-decoration:underline;">Board</font><font style="display: inline;">&#x201D;);</font>
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 <font style="display: inline;">WHEREAS, the </font><font style="display: inline;">Board and the </font><font style="display: inline;">Executive </font><font style="display: inline;">have mutually determined that the Executive shall </font><font style="display: inline;">transition to the role of Executive Chairman</font><font style="display: inline;"> of the Board</font><font style="display: inline;">, effective as of and subject to the Company&#x2019;s appointment of a new </font><font style="display: inline;">CEO</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">(the &#x201C;</font><font style="display: inline;text-decoration:underline;">Appointment</font><font style="display: inline;">&#x201D; and, </font><font style="display: inline;">the effective date of </font><font style="display: inline;">the </font><font style="display: inline;">Appointment</font><font style="display: inline;">, the &#x201C;</font><font style="display: inline;text-decoration:underline;">Appointment Date</font><font style="display: inline;">&#x201D;);</font>
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 <font style="display: inline;">WHEREAS, between the date hereof and the </font><font style="display: inline;">Appointment </font><font style="display: inline;">Date, the Executive shall continue to serve as </font><font style="display: inline;">CEO</font><font style="display: inline;"> and shall continue to be eligible to receive the </font><font style="display: inline;">salary </font><font style="display: inline;">and </font><font style="display: inline;">cash and non-cash </font><font style="display: inline;">benefits provided to the Executive as of the date hereof</font><font style="display: inline;"> in accordance with the terms and conditions thereof</font><font style="display: inline;">,</font><font style="display: inline;"> other than as stated herein</font><font style="display: inline;">;</font><font style="display: inline;"> and</font>
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 <font style="display: inline;">WHEREAS, the Company and the Executive now desire to enter into a mutually satisfactory arrangement concerning, among other things, the Executive&#x2019;s role as Executive Chairman following the </font><font style="display: inline;">Appointment </font><font style="display: inline;">Date, post-employment restrictive covenants to which the Executive will be subject, and other matters related thereto.</font>
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 <font style="display: inline;">NOW, THEREFORE, </font><font style="display: inline;">in consideration of the premises and the mutual promises contained herein</font><font style="display: inline;">, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and the Executive hereby agree as follows:</font>
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