Document:

Chairman of the Board Compensation Agreement

 Exhibit 10.1 
 CAI INTERNATIONAL, INC. 
 CHAIRMAN OF THE BOARD COMPENSATION AGREEMENT 
 This Chairman of the Board Compensation Agreement (this “Agreement”), dated as of June 5, 2009, is entered into by and between CAI
International, Inc., a Delaware corporation (together with its subsidiaries, the “Company”), and Hiromitsu Ogawa (the “Director”). 
 W I T N E S S E T H: 
 WHEREAS, the Director has voluntarily retired as an executive officer of the
Company in the position of Executive Chairman, and the Company and Director desire to have Director continue to serve the Company as a director and as the Chairman of the Board of Directors. 
 NOW THEREFORE in consideration of the mutual benefits to be derived from this Agreement, the Company and the Director hereby agree as follows:

 1.    Termination of Employment Agreement. The Company and Director agree to terminate effective as of June 5, 2009 the
Amended and Restated Employment Agreement dated as of December 31, 2008, by and between the Company and Director (the “Employment Agreement”). 
 2.    Director. Director has agreed to serve as Chairman of the Company’s Board of Directors, and has been reelected as a director of the Company to serve until 2012. 
 3.    Compensation and Benefits. For so long as Director serves as Chairman of the Board or for a period of three (3) years counted from
the date hereof should Director serve as a Company Director but no longer Chairman, the Director shall be compensated as follows: 
 (a)    Cash Compensation. Director shall be entitled to receive an annual retainer fee of $100,000, paid in increments of $25,000 at the beginning of each calendar quarter (the “Retainer Fee”). In
addition, on July 1 of each subsequent year that this Agreement is in place, beginning on July 1, 2010, Director’s annual Retainer Fee shall be increased by at least four percent (4%) of Director’s then-current Retainer Fee
or by such larger amount as is determined by the Company’s Board of Directors. This compensation is in lieu of, and Director shall not be entitled to any other, cash retainer or meeting fees payable to other members of the Board of Directors.
In addition, while receiving this compensation, the Director shall not be entitled to participate in any equity compensation plans or programs for nonemployee directors. 
 (b)    Reimbursement of Expenses. The Company shall pay or reimburse the Director for all travel, business and entertainment expenses incurred by or necessary for the Director to perform his
duties as a director of the Company in accordance with such policies and procedures as the Company may from time to time establish for senior officers and directors and subject to the Company’s normal requirements with respect to reporting and
documentation of such expenses. 

 (c)    Fringe Benefits. 
 (i) Medical and Dental Insurance. Director, his spouse and dependents shall be entitled to participate in the Company’s medical and dental
insurance plans; provided if for any reason the Company is unable to obtain coverage for the Director, his spouse and dependents under its medical and dental plans, Director, his spouse and dependents shall be entitled to be reimbursed for the cost
of obtaining coverage equivalent to the coverage Director, his spouse and dependents received immediately prior to termination of the Employment Agreement. 
 (ii) Disability Insurance. Director shall be entitled to participate in the Company’s disability insurance plan providing for a 60-day exclusion period and disability coverage for at least sixty percent
(60%) of Director’s then-current Retainer Fee, with Director named as the direct beneficiary or, if such participation is not permitted under the Company’s plan, the Company shall provide Director with a disability insurance plan that
provides a substantially equivalent level of coverage. 
 (iii) Life Insurance. The Company shall enroll Director in the
Company’s term life insurance policy providing a benefit of $1,000,000 upon death of Director and Accidental Death and Dismemberment (AD&D) benefit; if such enrollment is not permitted under the Company’s policy, the Company shall
maintain a separate policy under the same terms for the benefit of the Director. 
 (iv) Parking. Director shall be entitled to paid
parking space at the Company’s headquarters. 
 (v) Golf Membership Dues. The Company will reimburse Director for the monthly
dues associated with one membership at a golf club to be designated by Director. 
 (d)    No Withholding. In
serving as a director pursuant to this Agreement, the Director shall not be an employee of the Company. The Company shall report compensation paid hereunder consistent with the foregoing and the Director shall be liable for all taxes associated
herewith. 
 (e)    Additional Benefits. The Company shall also provide Director with all other benefits provided
from time to time to its other directors, including Directors’ and Officers’ Insurance coverage, other than any cash or equity compensation payable to outside directors (it being understood that Director’s right to cash or equity
compensation is set forth in Section 3(a) above). For so long as the Director serves as a Director of the Company, the Indemnification Agreement dated as of March 1, 2007, executed between Director and the Company shall remain in full
force and effect. For so long as the Director serves as a Director of the Company, the Company will make available to the Director a designated office acceptable to the Director at the Company’s headquarters, which shall include secretarial
services. 

 (f) Termination. This Agreement may be terminated by the Company upon occurrence of the following
events: (i) Director’s death; (ii) Director’s disability determined unanimously by the Board of Directors that Director is unable to perform his duties under this Agreement for a continuous period of at least 180 days due to
physical or mental illness or impairment; or (iii) the Company becomes insolvent or the Company seeks relief (or an order is entered against the Company) under any bankruptcy, reorganization, receivership, transfer for the benefit of creditors
or other debtor relief statute or arrangement, in which case this Agreement shall terminate thirty (30) days after the Company gives Director written notice of the termination. 
 4.    Entire Agreement; Amendment. This Agreement contains the entire agreement between the Company and Director with respect to the subject matter hereof and supersedes the Employment
Agreement in its entirety. This Agreement may not be amended, waived, changed, modified or discharged except by an instrument in writing executed by or on behalf of the party against whom enforcement of any amendment, waiver, change, modification or
discharge is sought. No course of conduct or dealing shall be construed to modify, amend or otherwise affect any of the provisions hereof. 
 5.    Notices. All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have been duly given if delivered in person, delivered by express mail or other expedited
service or upon receipt if mailed, postage prepaid, via registered mail, return receipt requested, addressed as follows: 
  

			
	 (a)    To the Company:
	  	 (b)    To Director:

	CAI International, Inc.	  	Hiromitsu Ogawa
	 One Embarcadero Center
 Suite 2101
 San Francisco CA 94111
	  	 99 Lane Place
 Atherton, CA 94027

 and/or to such other persons and addresses as any party shall have specified in writing to the other. 

6.    Assignability. This Agreement shall not be assignable by either party and shall be binding upon, and shall inure to the benefit of,
the heirs, executors, administrators, legal representatives, successors and assigns of the parties. Any successor to the Company (whether direct or indirect and whether by purchase, lease, merger, consolidation, liquidation or otherwise) to all or
substantially all of the Company’s business and/or assets shall assume this Agreement and agree expressly to perform this Agreement in the same manner and to the same extent as the Company would be required to perform it in the absence of a
succession. For all purposes under this Agreement, the term “Company” shall include any successor to the Company’s business and/or assets which executes and delivers the assumption agreement described in this Section 6 or
which becomes bound by this Agreement by operation of law. 
 7.    Governing Law. This Agreement shall be governed by and
construed under the laws of the State of California without regard to conflict of laws principles. 

 8.    Waiver and Further Agreement. Any waiver of any breach of any terms or conditions of
this Agreement shall not operate as a waiver of any other breach of such terms or conditions or any other term or condition, nor shall any failure to enforce any provision hereof operate as a waiver of such provision or of any other provision
hereof. Each of the parties hereto agrees to execute all such further instruments and documents and to take all such further action as the other party may reasonably require in order to effectuate the terms and purposes of this Agreement.

 9.    Headings of No Effect. The Section headings contained in this Agreement are for reference purposes only and shall not in
any way affect the meaning or interpretation of this Agreement. 
 (Remainder of page intentionally left blank) 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement effective as of the date first above written.

  

			
		 	 COMPANY:
  
 CAI International, Inc.

		
	 By:
	 	/s/ MASAAKI NISHIBORI
		 	 Masaaki Nishibori
 Chief Executive
Officer

		
		 	DIRECTOR:
		
		 	/s/ HIROMITSU OGAWA
		 	Hiromitsu OgawaSpecimen of Common Stock Certificate

 Exhibit 4.1 
 

 

 The following abbreviations, when used in the inscription on the face of this certificate, shall be
construed as though they were written out in full according to applicable laws or regulations: 
  

															
	TEN COM	 	—	 	as tenants in common	 		 	UNIF GIFT MIN ACT —	 	 	 	Custodian	 	 
	TEN ENT	 	—	 	as tenants by the entireties	 		 		 	(Cust)	 		 	(Minor)
	JT TEN	 	—	 	as joint tenants with right of	 		 		 	under Uniform Gifts to Minors
		 		 	survivorship and not as tenants	 		 	Act	 	 
		 		 	in common	 		 		 		 	(State)

 Additional abbreviations may also be used though not in the above list. 
 FOR VALUE RECEIVED,
                                         
                    hereby sells, assigns and transfers unto 
  

			
	 PLEASE INSERT SOCIAL SECURITY OR OTHER
IDENTIFYING NUMBER OF
ASSIGNEE
	  	
	 	
	 	  	

  

			
	 
	(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)
	
	 
	
	 
		
	 	 	Shares
	of the Common Stock represented by the within Certificate, and do hereby irrevocably constitute and appoint

			
		
	 	 	attorney-in-fact
	to transfer the said stock on the books of the within-named Corporation, with full power of substitution in the premises.

  

							
	Dated	  	 	  		  	
				
		  		  		  	 
				
		  		  		  	 
		  		  	NOTICE:	  	THE SIGNATURE(S) TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME(S) AS WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER.

  

			
	Signature(s) Guaranteed
		
	By	 	 
	THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED
SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT TO S.E.C. RULE 17Ad-15.

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