Exhibit 10(j)
March 20, 2001
Xx. Xxxxxx X. Xxxxxx
DMK International
000 Xxxxxxxx Xxxxxxx
Xxxxx 000
Xxxxxxx, XX 00000
Dear Xxx:
This letter will acknowledge your agreement to retire as a member of the
Board of Directors pursuant to the retirement policy for Directors, and to serve
as a Senior Director of McDonald's Corporation, effective immediately following
the Company's 2001 Annual Meeting of Shareholders, scheduled to be held on May
17, 2001.
As you know, your service as a Senior Director shall be at the pleasure of
the Board on the following terms and conditions:
. Senior Directors may attend Board meetings and meetings of Committees
upon which they served at the time of their retirement as Directors, but
shall not have the right to vote at any such meeting.
. Senior Directors shall be designated annually for a one-year term, but
may not serve more than two such one-year terms.
. Senior Directors shall be compensated in the same manner as Directors,
except that Senior Directors shall not be compensated for attending
Committee meetings.
. Senior Directors shall be expressly indemnified by resolution of the Board of
Directors under the provisions of the Company's By-Laws.
. On behalf of the Board of Directors, we thank you for your willingness to
continue to share your advise and counsel with the Board and McDonald's
management.
Sincerely,
/s/ Xxxxxx X. Xxxxx
Xxxxxx X. Xxxxx
Chairman, Nominating and Corporate
Governance Committee
/s/ Xxxx X. Xxxxxxxxx
Xxxx X. Xxxxxxxxx
Chairman and Chief Executive Officer
Accepted as of March 21, 2001
/s/ Xxxxxx X. Xxxxxx
Xxxxxx X. Xxxxxx
