Document:

Exhibit

Exhibit 10.10.3
THIRD AMENDMENT TO 
EXECUTIVE EMPLOYMENT AGREEMENT
This Third Amendment to Executive Employment Agreement is made as of the 16th day of February, 2017, by and between SP+ Corporation, a Delaware corporation (the “Company”) and Gerard M. Klaisle (the “Executive”).  
RECITALS
		
	A.
	The Company and the Executive have previously executed a certain Executive Employment Agreement dated as of March 17, 2005, as amended by a certain First Amendment dated as of December 29, 2008, and as amended by a certain Second Amendment dated as of July 28, 2011 (as so amended, the “Agreement”).  

		
	B.
	The Company and the Executive have agreed to modify certain provisions and desire to amend the Agreement as set forth below.  

NOW, THEREFORE, in consideration of the Recitals, the mutual promises and undertakings herein set forth, and the sum of Ten Dollars ($10.00) in hand paid, the receipt and sufficiency of which consideration are hereby acknowledged, the parties hereby agree that the Agreement shall be deemed modified and amended, effective immediately, as follows:
1.    Paragraph 1 of the Agreement is hereby amended by deleting, in the second sentence, the semi-colon and the words of that sentence following the semi-colon, so that Paragraph 1, as amended, now reads as follows: 
1.    Employment Period.  The Company shall employ the Executive, and the Executive shall serve the Company, on the terms and conditions set forth in this Agreement, for a period beginning on April 4, 2005 (the “Start Date”) and ending March 31, 2007 (said period of time being the "Initial Employment Period").  The Initial Employment Period shall automatically extend for additional terms of one (1) year each (each a "Renewal Period," collectively the "Renewal Periods") unless the Company or Executive shall have given notice in writing of its or his intention not to renew this Agreement not less than ninety (90) days prior to the expiration of the Initial Employment Period or any applicable Renewal Period (the Initial Employment Period, as extended by one or more Renewal Periods, being hereafter referred to as the “Employment Period”).  Notwithstanding any termination of this Agreement, all of the terms and provisions set forth in paragraph 6 of this Agreement shall remain in full force and effect.  
2.    Paragraph 6(g) of the Agreement is hereby amended, to read in its entirety, as follows:
(g)    Salary Continuation Payments.  As additional consideration for the representation and restrictions contained in this paragraph 6, if, (i) the termination of Executive’s employment occurs prior to the expiration of the Employment Period for any reason other than Cause or the Executive’s Voluntary Termination, or (ii) the Company gives a written notice of non-renewal of the Employment Period as provided in paragraph 1 above such that the Employment Period will terminate prior to March 31, 2019, then the Company agrees to pay Executive amounts which, when combined with all amounts payable by the Company pursuant to either clause (i) of paragraph 5(a) above or clauses (i) and (ii) of paragraph 5(c) above, will total Executive's Annual Base Salary and Target Annual Bonus as in effect immediately preceding the Date of Termination for a period of twenty-four (24) months following the Date of Termination (the "Salary Continuation Payments").  The Salary Continuation Payments shall be payable as and when such amounts would be paid in accordance with paragraph 3(a) and (b) above.  In the event of (i) the Company’s termination of the Executive’s employment for Cause, (ii) the Company gives a written notice of non-renewal of the Employment Period as provided in paragraph 1 above such that the Employment Period will terminate on or after March 31, 2019, or (iii) a Voluntary Termination by the Executive, the Salary the Salary Continuation Payments shall be the total of (x) any and all amounts due the Executive by reason of and in accordance with the provisions of paragraph 5( d) above, plus (y) the sum of Fifty Thousand Dollars ($50,000), payable in equal monthly installments of $4,166.67 over a 12-month period following the Date of Termination.  If the Executive breaches this Agreement at any time during the twenty-four (24) month period following the Date of Termination, the Company’s obligation to continue any Salary Continuation Payments shall immediately cease, and the Executive shall immediately return to the Company all Salary Continuation Payments paid up to that time.  The termination of Salary Continuation Payments shall not waive any other rights at law or equity which the Company may have against Executive by virtue of his breach of this Agreement.  

The Company's obligation to make Salary Continuation Payments shall also cease with respect to periods after Executive's death.  
3.    Except as expressly modified above, all of the remaining terms and provisions of the Agreement are hereby ratified and confirmed in all respects, and shall remain in full force and effect in accordance with their terms.  
IN WITNESS WHEREOF, the Company and Executive have executed this Third Amendment to Executive Employment Agreement as of the day and year first above written.  
	
					
	COMPANY:
	 
	EXECUTIVE:
	 

	 
	 
	 
	 
	 

	SP+ CORPORATION, a Delaware corporation
	 
	 
	 

	 
	 
	 
	 
	 

	By:
	        /s/ G Marc Baumann
	 
	                 /s/ Gerard M. Klaisle
	 

	 
	        G Marc Baumann
	 
	                     Gerard M. Klaisle

	 

	 
	        Chief Executive OfficerExhibit

Exhibit 10.12.1
SECOND AMENDMENT TO EMPLOYMENT AGREEMENT
This Second Amendment to Employment Agreement by and between SP+ Corporation, a Delaware corporation with its corporate office in Chicago, Illinois (the “Company”), and Rob Toy, an individual, (the “Executive”) is made as of this 15th day of February, 2017.  

RECITALS:  
A.    The Company and the Executive entered into that certain Executive Employment Agreement dated as of September 10, 2012 (the “Original Agreement”).  
B.    The Company and the Executive agreed to an amendment to the Original Agreement as set forth in that certain First Amendment to Employment Agreement dated as of November 17, 2014 (the Original Agreement, as so amended, being referred to as the “Agreement”).  
C.    The Company and the Executive have, after a series of discussions, agreed to amend certain provisions of the Agreement as set forth in this document (this “Second Amendment”), effective on the date set forth in the first paragraph of this Second Amendment.  
D.    Any term that is not defined in this Second Amendment shall have the meaning ascribed to that term in the Agreement.  
NOW, THEREFORE, in consideration of the foregoing recitals and the employment of the Executive by the Company under the terms of the Agreement, as amended by this Second Amendment, the Company and the Executive agree as follows:  
1.Sub-section 6(g) of the Agreement is amended and restated to read, in its entirety, as follows:

(g)    Salary Continuation Payments.  As additional consideration for the representation and restrictions contained in this paragraph 6:  
(i)    If Executive’s employment is terminated for any reason (including without limitation the Company’s effective termination of Executive’s employment by reason of the Company’s election pursuant to paragraph 1 not to extend any Employment Period ending prior to September 10, 2022). other than Cause or Executive’s voluntary termination pursuant to paragraph 5(d) (Executive’s “Voluntary Termination”), the Company agrees to pay. Executive an amount which, when combined with all amounts payable by the Company pursuant to either clause (i) of paragraph 5(a) above or clauses (i) and (ii) of paragraph 5(c) above, will total Executive’s Annual Base Salary and Target Annual Bonus as in effect immediately preceding the Date of Termination for a period of twenty-four (24) months following the Date of Termination (collectively the “Tier 1 Salary Continuation Payments”).  The Tier 1 Salary Continuation Payments shall be payable as and when such amounts would be paid in accordance with paragraph 3(a) and (b) above.  
(ii)    Upon Executive’s Voluntary Termination or if Executive is terminated for Cause, the Tier 1 Salary Continuation Payments shall be reduced to the total amount of $50,000 (the “Tier 2 Salary Continuation Payments”) and shall be payable in equal monthly installments over a twelve-month period following the Date of Termination.  
(iii)    If Executive’s employment is terminated by reason of the Company’s election pursuant to paragraph 1 not to extend any Employment Period ending on .or after September 10, 2022, then the Company shall pay Executive one of the following amounts, as designated by the Company at its sole option and election in a writing delivered to Executive within seven (7) days after notice of the Executive’s termination is given:  
(x)    The Tier 1 Salary Continuation Payments, payable over a period of twenty-four (24) months following the Date of Termination, or
(y)    The Tier 2 Salary Continuation Payments, payable over a period of twelve (12) months following the Date of Termination; provided, however, that if the Company elects to pay Tier 2 Salary Continuation Payments pursuant to this sub-section 6(g)(iii)(y), then 

effective from and after the Date of Termination, Executive shall be deemed released from any further obligations pursuant to paragraphs 6(e) and 6(f).  
(iv)    If Executive breaches this Agreement at any time during the 24-month period following the Date of Termination, the Company’s obligation to continue any Tier 1 Salary Continuation Payments or Tier 2 Salary Continuation Payments (either being hereafter referred to as “Salary Continuation Payments”) shall immediately cease, and the Executive shall immediately return to the Company all Salary Continuation Payments paid up to that time.  The termination of Salary Continuation Payments shall not waive any other rights, at law or in equity, that the Company may have by virtue of Executive’s breach of this Agreement.  The Company’s obligation to make Salary Continuation Payments shall also cease with respect to periods after Executive’s death.”  
2.Except as expressly modified above, all of the remaining terms and provisions of the Agreement are hereby ratified and confirmed in all respects, and shall remain in full force and effect.

IN WITNESS WHEREOF, the Company and the Executive have executed this Second Amendment as of the day and year first above written.

	
					
	COMPANY:
	 
	EXECUTIVE:
	 

	 
	 
	 
	 
	 

	SP+ CORPORATION, a Delaware corporation
	 
	 
	 

	 
	 
	 
	 
	 

	By:
	        /s/ G Marc Baumann
	 
	               /s/ Rob Toy
	 

	 
	        G Marc Baumann
	 
	                  Rob Toy

	 

	 
	        Chief Executive Officer

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