National restaurant franchising company Chanticleer Holdings Inc. agreed to a $250,000 salary-based compensation plan with its new president Frederick Glick, according to a filing with the Securities and Exchange Commission on Friday.

The compensation plan includes 10,000 restricted stock units that vest in full immediately. The present value of these stock units equates to $18,100 at the company’s current share price of $1.81.

In addition to the stock units, Glick received equity awards that include 20,000 restricted stock units as well as two stock option plans.

The first plan is a five-year plan for 10,000 stock options at an exercise price of $3.50. The second is a five-year plan for 10,000 stock options at an exercise price of $4.50.

The equity awards vest in eight quarterly installments on the first day of each fiscal quarter starting on January 1, 2019.

The Charlotte-based company named Glick as its president on Nov. 8. Glick comes from his role as vice president of brewery restaurants for Karl Strauss Brewing Co.

Chanticleer was founded in 1999 and has since grown several well-known restaurant franchises. Its current franchised restaurants include Hooters, Burgers Grilled Right, Little Big Burger, American Burger Company, and Just Fresh.

The announcement can be found here.