Document:

vrrm-ex1012_17.htm

 

 

Exhibit 10.12

June 1, 2015

Patricia Chiodo

RE:Offer Letter Revision

Dear Tricia:

This Letter Amendment (hereinafter, “Amendment”) revises your Offer Letter dated May 15, 2015 (hereinafter, “Offer Letter”) as follows:

	
 
	
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Long Term Incentive Plan:  You will be eligible to participate in the Company's Long Term Incentive/Phantom Stock Plan (or any future equivalent/revised plan).  Shares/grants/incentives are not guaranteed and are issued at the discretion of the Board of Directors.

	
 
	
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Severance:  In the event your employment is terminated by ATS, for reasons other than cause, subject to entering into an appropriate release, non-disparagement and cooperation agreement, ATS will pay your base salary including the cost of medical benefits for a 12 month period.  In the event you resign for “Good Reason”, subject to entering into an appropriate release, non-disparagement and cooperation agreement, ATS will pay your base salary including the company cost of medical benefits for up to a 12 month period, or until you find alternate employment (whichever occurs first) “Good Reason” means a change in authority, duties, responsibilities, reporting lines, or other action by the Company resulting in a diminution of, or a material alteration to, your position.  A 60 day working/cooperation period is required after resignation of employment to assist with the transition of your role.

This Amendment supersedes any prior understanding, written or oral, between the Parties respecting the subject matter contained herein.  To the extent the provisions of this Amendment conflict with your Offer Letter, the provisions of this Amendment shall control.  Please sign below to document your agreement to this Amendment.

Sincerely,

 

/s/ David M. Roberts

 

David M. Roberts

President & Chief Operating Officer

American Traffic Solutions, Inc.

 

	
 
	
/s/ Patricia Chiodo
	
 
	
June 1st, 2015
	
 

	
 
	
Patricia Chiodo
	
 
	
Date
	
 

 

 

1330 W. Southern Ave.  ●  Tempe, Arizona 85282  ●  TEL:  480.443.7000

 

www.atsol.com  ●  www.RoadSafetyCameras.com  ●  www.platepass.com  ● www.atscrossingguard.comvrrm-ex1013_14.htm

Exhibit 10.13

September 30, 2014

Mr. Vincent Brigidi

VIA ELECTRONIC MAIL:  Vincent.brigidi@gmail.com

Dear Vincent:

American Traffic Solutions, Inc. (the “Company”) is extremely pleased to offer you employment.  I hope to be welcoming you aboard soon! Before doing so, however, we want to set forth the terms and conditions that would govern your employment with the Company.  While a bit formal, we find that putting the terms of an employment offer in writing helps avoid any future misunderstandings and makes for a more pleasant work relationship for all involved.  So please review this offer letter carefully and feel free to let me know if you have any questions concerning it.

Your title will be Senior Vice President/General Manager, Fleet Services.  We expect that you will begin no later than October 13, 2014.  ATS reserves the right to perform background checks, not limited to credit, driving, and criminal records.  This offer letter is contingent on the results of your background check.  If discrepancies or issues in background information are reported, ATS reserves the right to rescind this offer of employment or terminate active employment if problematic background information is reported before or after your initial start date.

You will be reporting to David Roberts, EVP, ATS.  Your responsibilities and reporting relationship may, of course, change over time.

As a Company employee, you will receive the following benefits:

	
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Compensation:  The Company will pay you $285,000 per year on a bi-weekly basis at a rate of $10,961.54 (before applicable withholding and taxes) on the Company’s regular paydays.  All pay checks are issued one week in arrears.  The Company may periodically review and adjust your salary.

	
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Leadership Bonus:  You will have the opportunity to participate in an ATS Incentive Bonus Plan, which is based on Company financial results.  Your Target Bonus is 50%.  Following your start date, you will be provided with documents that outline the specific payment and eligibility criteria, including the financial components of the plan.

	
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Sign On:  A one-time sign on bonus of $10,000 (subject to applicable taxes) will be issued to you per the attached Sign-On Bonus Agreement.

	
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Relocation:  From Date of Hire through July 31, 2015, upon mutual agreement, the Company will coordinate and pay for housing, rental car or other transportation to and from work, and up to two (2) round trip visits per month to and from Pennsylvania to visit family.

	
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Long Term incentive Plan (LTIP):  You will receive 200,000 units, subject to ratification by the ATS Board of Directors at their next quarterly meeting.

 

	
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Comprehensive Leave:  Upon starting employment, you will receive a prorated allotment of Paid-Time-Off (PTO) corresponding to your start date of October 13, 2014, based on Company policies.  For the calendar year 2014, you will receive a total allotment of 38 PTO hours (4.75 days) upon hire.  You will be eligible to receive 160 PTO hours (20 days) for the calendar year 2015.

	
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Health Care, 401(k) Plan and Other Benefits:  The Company currently has benefit plans covering things such as personal time off, medical insurance, disability, and 401(k).  You are eligible for medical benefits and 401k on the first of the month following 30 days of employment; December 1, 2014.  Additional information concerning these benefits is available upon request.  If you accept this offer, make sure to review the Company’s policies so that you fully understand them.  These policies and benefits are not written in stone, and may be modified at the Company’s discretion.

Prior to your employment, you are required to be tested for illegal substances pursuant to the Company’s Substance Abuse Policy, which you must review and sign.  Please contact us for the form needed for the drug test and a listing of nearby sites.

Your employment relationship with the Company will be what is called “at will.” That is, even after accepting this employment offer, you will have the right to quit at any time, and the Company will have the right to end your employment relationship with the Company; for any reason; with or without cause; or for no reason.  Of course we hope everything works out for the best, but the Company wants to make sure that you understand that nothing in this letter or in any Company policy or statement (including any verbal statements made to you during negotiations about working at the Company) is intended to or does create anything but an at-will employment relationship.  Only the Company’s Board of Directors may modify your at-will employment status, or guarantee that you will be employed for a specific period of time.  Such modification must be in writing, approved by the Board of Directors, and signed by an authorized Company representative.

The offer reflected in this letter will remain open until October 1, 2014 unless revoked before then by the Company.  To accept this offer, please carefully read the statement below, sign where indicated, and return the letter to me.  Please let me know if you have any questions about the matters discussed in this letter, or otherwise.  We sincerely hope that you will accept this offer, and we look forward to working with you.

Sincerely,

American Traffic Solutions, Inc.

/s/ Rose Grande

Rose Grande

Chief People Officer

I understand, acknowledge, and agree to the terms and conditions of employment described in this letter and accept employment with the Company on these terms and conditions.

 

	
 
	
/s/ Vincent Brigidi
	
 
	
September 30, 2014
	
 

	
 
	
Vincent Brigidi
	
 
	
Datevrrm-ex1014_15.htm

Exhibit 10.14

Mr. Vincent Brigidi

Re:Revisions to Employment Terms 

Dear Vincent:

This letter (hereinafter, the “Amendment”) amends your offer letter dated September 30, 2014 (hereinafter, the “Offer Letter”).

The following paragraph is added immediately following the second-to-last paragraph of the Offer Letter (which describes your employment with the Company as “at will”):

	
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Severance:  In the event your employment is terminated by the Company without Cause, as defined below, or if you terminate your employment with the Company for Good Reason, also as defined below, in each case, subject to your execution (and, if applicable, non-revocation) of an agreement releasing all claims against the Company containing standard terms acceptable to the Company, the Company will pay your base salary (as of the date of termination) and pay the premium required for you to continue group health insurance coverage under the Company's plans pursuant to COBRA (at the coverage level selected by you as of the open enrollment period immediately preceding your last day of employment with the Company), each for the 12-month period immediately following your last day of employment with the Company.

	
 
	
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“Good Reason” means a change in authority, duties, responsibilities, reporting lines, or other action by the Company resulting in a material diminution of, or material alteration to, your position, which remains unremedied for the period of 30 consecutive days after you provide written notice to the Company's Chief Executive Officer of the conditions you contend amount or give rise to Good Reason.  The Company requests, as a matter of professional courtesy, that you provide three months' advance notice of any voluntary resignation of employment.

	
 
	
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“Cause” means:  (1) your being charged with a felony or misdemeanor criminal offense, other than a misdemeanor traffic offense; (2) your engagement in any act involving gross misconduct or dishonesty that is materially injurious to Company or any of its affiliates; (3) your willful and continued breach of, or failure substantially to perform under or comply with, any of the material terms and covenants of any written agreement with the Company or any of its affiliates; (4) your willful and continued breach of, or refusal or failure substantially to perform under, any policy or reasonable performance goals set by the Company or its affiliates with respect to your job duties or responsibilities, the operation of Company's or its affiliates' business and affairs, or the management of Company's or its affiliates' employees; or (5) you commit or have committed (or are reasonably believed by the Company to have committed) a breach of any laws or regulations which may affect or relate to the conduct of the Company's or its affiliates' business; provided, however, that with respect to (3) and (4) above, you will be provided notice of any misconduct and/or breach constituting Cause and given reasonable opportunity (not to exceed 30 consecutive days) to cure the misconduct and/or breach (unless such misconduct and/or breach is determined by the Company not to be susceptible to cure, in which case termination shall be deemed to be immediate), and provided further that such thirty (30) consecutive day cure period shall only be available for the first such misconduct and/or breach of the same or substantially similar type and subsequent misconduct and/or breach of the same or substantially similar type shall constitute Cause without regard to your subsequent cure of same.

1150 North Alma School Road, Mesa, Arizona 85201     ●     TEL 480.443.7000       ●       www.atsol.com

	

	
Letter to 

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This Amendment supersedes any prior understanding, written or oral, between you and the Company respecting the subject matter contained herein.  To the extent the provisions of this Amendment may conflict with your Offer Letter, the provisions of this Amendment shall control.

Please sign below to document your agreement to this Amendment.

 

				
	
Sincerely,
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
/s/ David M. Roberts
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
David M. Roberts
	
 
	
 
	
 

	
President & Chief Operating Officer
	
 
	
 
	
 

	
American Traffic Solutions, Inc.
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
/s/ Vincent Brigidi
	
 
	
2/29/16
	
 

	
Vincent Brigidi
	
 
	
Date

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