Chipotle 2012 Annual Report Download - page 119

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(1) This amount is not reported as compensation in the Summary Compensation Table because none of the
earnings are “above market” as defined in SEC rules.
(2) This amount includes amounts previously reported in the Summary Compensation Table as “Salary” or “All
Other Compensation” for 2006 (ignoring for purposes of this footnote any investment losses on balances in
the plans), in the amounts of $140,647.
POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE-IN-CONTROL
We have not entered into written employment, change-in-control, severance or similar agreements with any
of our employees, including our executive officers. Accordingly, we do not have any written agreements
requiring that we make post-employment severance payments to the executive officers in the event their
employment terminates. In addition, payouts under the AIP are conditioned on the employee being employed as
of the end of the year for which the payout relates. We have in the past paid severance to executives or other key
employees who have left us, and we may negotiate individual severance arrangements with any executive officer
whose employment with us terminates, depending on the circumstances of the executive’s termination.
The terms of the equity-based awards made to our executive officers do provide for post-employment
benefits in certain circumstances. The table below reflects the dollar value, based on the closing price of our
common stock on December 31, 2012, of the amount of each listed type of equity award which would have been
realizable by each executive officer (including as a result of acceleration of vesting) had the executive’s
employment terminated as of December 31, 2012 for the reasons identified in the table.
Potential Amounts Realizable Upon Termination Under Equity Awards
Name
Involuntary
Termination (1)
Voluntary
Resignation (1) Retirement (2)
Qualifying
Termination
Following
Change in
Control (3)
Death/
Disability (4)
Steve Ells
SOSARs (5) .................. — — N/A $18,834,750 $18,834,750
Performance Shares ........... — — N/A $ 5,949,200 $ 4,336,372
Total ................... $ 0 $ 0 N/A $24,783,950 $23,171,122
Monty Moran
SOSARs (5) .................. — — N/A $18,834,750 $18,834,750
Performance Shares ........... — — N/A $ 5,949,200 $ 4,336,372
Total ................... $ 0 $ 0 N/A $24,783,950 $23,171,122
Jack Hartung
SOSARs (5) .................. — — $5,560,000 $ 6,278,250 $ 6,278,250
Performance Shares ........... — — $2,168,186 $ 2,974,600 $ 2,168,186
Total ................... $ 0 $ 0 $7,728,186 $ 9,252,850 $ 8,446,436
Bob Blessing
SOSARs (5) .................. — — $1,779,200 $ 2,009,040 $ 2,009,040
Performance Shares ........... — — $ 596,407 $ 818,015 $ 596,407
Total ................... $ 0 $ 0 $2,375,607 $ 2,827,055 $ 2,605,447
Mark Crumpacker
SOSARs (5) .................. — — N/A $ 1,661,075 $ 1,661,075
Performance Shares ........... — — N/A $ 818,015 $ 596,407
Total ................... $ 0 $ 0 N/A $ 2,479,090 $ 2,257,482
49
Proxy Statement