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 The company said yesterday that Stock wanted to retire, and has been replaced by Tim Warner.
Former Cinemark CEO's Consulting Gig Pays $1M A Year
Trending Now on Deadline
NBC Cameraman Declared Ebola-Free; Tries To Rescue Nancy Snyderman From Self-Inflicted Career Disaster -- UPDATE
More From Lieberman
- Streaming Cash: Redbox Reports Losses From Its Joint Venture With Verizon
- Layer3 TV Taps Lindsay Gardner To Lead Programming And Content Acquisition
- Yahoo Shares Rise As Mobile Revenues Help It Beat Q3 Earnings Expectations
- Will Time Warner Feel A Bruise From Its Battle With Dish Network?
- Apple Beats Earnings Expectations With Help From iPhones, But Not iPads