Exhibit 10.1


 


FIRST AMENDMENT TO


AMENDED AND RESTATED


EXEUCTIVE EMPLOYMENT AGREEMENT


 


This First
Amendment to the Amended and Restated Executive Employment Agreement (“this
First Amendment”) is made and entered into as of October 1, 2007, by and
between Standard Parking Corporation, a Delaware corporation with its corporate
offices in Chicago, Illinois, including its subsidiaries, affiliates and other
businesses controlled by Standard Parking Corporation (in each case including
their predecessors or successors) which are engaged in parking management  (collectively, the “Employer”
) 
and Thomas Hagerman   (the “Employee”).


 


RECITALS


 


A.                                    The
Employer is in the business of operating private and public parking facilities
for itself, its subsidiaries, affiliates and others, and as a consultant and/or
manager for parking facilities operated by others throughout the United States
(the Employer and its subsidiaries and affiliates, and other
Employer-controlled businesses engaged in parking garage management (in each case
including their predecessor’s or successor’s) are referred to hereinafter as
the “Companies”).


 


B.                                    The
Employer and Employee previously executed an Amended and Restated Employment
Agreement as of March 1, 2005 (“the Agreement)”


 


C.                                    Employer wishes to continue
to employ Employee and Employee wishes to continue his employment relationship
with Employer under the terms of this Agreement subject to the terms and
conditions hereinafter set forth.


 


NOW, THEREFORE, in consideration of:  (i) the foregoing premises, and; (ii) the
mutual covenants and agreements herein contained, including, but not limited
to, certain monies, certain benefits, employment, continued employment, the
agreement to arbitrate all disputes arising out of this agreement and/or access
to Trade Secret and Confidential Information of the Employer and, the Employer
and Employee hereby covenant and agree as follows:


 


1.                                      Effective
October 1, 2007,


 


a.              Employee’s base
salary shall be increase to $357,000 annually currently paid on a biweekly basis.


 


b.             Employee’s new title
will be Executive Vice President, Chief Operating Officer.


 


c.              Employee’s Target
Annual Bonus as outlined in paragraph 3(b) of the Agreement will be increased
to $120,000 per calendar year. For the 2007 calendar year, Employee’s Target
Annual Bonus will be prorated so that 3/12s will be calculated at the new bonus
amount of $120,000 and 9/12s will be calculated at the current bonus amount of
$93,000.


 


2.                                      Except
to the extent expressly modified by paragraph 1 above, the Agreement shall
remain in full force and effect in strict accordance with its terms.


 


IN WITNESS WHEREOF, the
parties have executed this First Amendment on the day first


 

















 


above written effective October 1, 2007.


 


 


	
  EMPLOYER:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Standard Parking Corporation

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
   /s/ James A
  Wilhelm

  	
   

  	
   

  
	
   

  	
  James A. Wilhelm

  	
   

  
	
   

  	
  President and Chief Executive Officer

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  EMPLOYEE:

  	
   

  
	
   

  	
   

  
	
   /s/ Thomas
  Hagerman

  	
   

  	
   

  
	
  Thomas Hagerman