Document:

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                                                                   EXHIBIT 10.18

                         EXECUTIVE EMPLOYMENT AGREEMENT

          THIS AGREEMENT (this "agreement") is made and entered into effective
as of August 1, 1999, by and between APCOA/STANDARD PARKING, INC., a Delaware
corporation (the "Company") and JAMES A. WILHELM ("Executive").

                                    RECITALS

         A.   Prior to the effective date hereof, Executive was employed by the
Company. The Company 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 Company and its subsidiaries and affiliates, and other
Company-controlled businesses engaged in parking garage management (in each case
including their predecessor's or successor's) are referred to hereinafter as the
"Parking Companies").

         B.   In the course of Executive's employment previously and hereunder,
Executive has had and will have access to highly confidential and proprietary
information of the Parking Companies and their clients, including without
limitation the information referred to in Paragraph 5.

         C.   The Company and Executive desire to continue Executive's
employment relationship with the Company and to amend and restate the terms of
Executive's employment agreement, on and subject to the terms and conditions
hereinafter set forth.

         NOW, THEREFORE, in consideration of (i) the foregoing premises, (ii)
the mutual covenants and agreements herein contained, (iii) the severance rights
provided to Executive as set forth herein (iv) the salary continuation payment
payable on termination and, (v) the increased non-qualified pension benefits
provided to Executive by separate agreement, the Company and Executive hereby
covenant and agree as follows:

         I.   Performance of Service. Executive's employment with the Company
shall be subject to the following:

         (a)  The Company agrees to employ Executive in the position of
Executive Vice President. The Company reserves the right to change the title and
duties of Executive from time to time; provided, however, that Executive shall
not, without his consent, be assigned duties substantially inconsistent with the
foregoing.

         (b)  Executive agrees to faithfully and efficiently perform his duties
and devote his full working time and his best efforts to the business and
affairs of the Company.

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         (c)  Executive's duties may include providing services for any one or
more of the Parking Companies, and Executive shall hold such other positions in
such other Parking Companies as may be assigned to him from time to time.
Executive acknowledges that the relative time and effort that he will need to
devote to any of the Parking Companies will vary from time to time as required
by the respective business needs of the Company and such other Parking Companies
as may be in existence from time to time. Executive may also be called upon by
the Company to perform consulting or other advisory services for various clients
of the Company and/or the other Parking Companies from time to time.

         (d)  Notwithstanding the foregoing provisions of this Paragraph 1,
Executive may engage in activities other than those required under this
Agreement, such as management of personal investments, activities involving
professional, charitable, educational, religious and similar types of
organizations, speaking engagements, membership on the boards of directors of
other organizations, and similar type activities to the extent that such other
activities do not interfere with the performance of Executive's duties under
this Agreement, or conflict in any material way with the Company's business.

         2.   Compensation. Subject to the terms of this Agreement, while
he is employed by the Company, the Company shall compensate Executive for
Executive's services as follows:

         (a)  Salary. Executive shall receive a base salary at the rate of not
less than $300,000 per annum (the "Salary"), payable in accordance with the
normal payroll practices of the Company as in effect from time to time (but not
less frequently then monthly). The Salary shall be subject to periodic review
and, in the sole discretion of the Company, may be adjusted without affecting
any of the other provisions of this Agreement.

         (b)  Bonus. For each calendar year during the term of this Agreement,
the Executive shall be eligible to receive an annual bonus (the "Annual Bonus"),
based upon the terms and conditions of an annual bonus program to be established
by the Company.

         (c)  Equity Plan. In the event the Company adopts an equity incentive
plan or program (the "Equity Plan") for its key executives, the Executive shall
be entitled to participate in the Equity Plan from and after the effective date
thereof in accordance with the terms and conditions of such plan.

         (d)  Business Expenses. Executive shall be reimbursed by the Company
for those business expenses authorized by the Company and for those which are
necessarily and reasonably incurred on behalf of the Company and which may
properly be deducted by the Company as business expenses for federal tax
purposes.

         (e)  Vacations. Executive shall be entitled to four (4) weeks of annual
vacation, to be taken in accordance with the Company's vacation policy as in
effect from time to time and shall be taken at times which do not unreasonably
interfere with Executives duties.

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         (f)  Benefits. Executive and/or Executive's family, as the case may be,
shall be eligible for participation and shall receive all benefits under group
medical, dental, term life and disability insurance and other welfare benefit
plans, practices, policies and programs provided by the Company, as in effect
from time to time, on the same terms and conditions as those applicable to peer
Executives.

         (g)  [Intentionally Deleted]

         (h)  Annuity.  Executive may become entitled to certain non-qualified
annuity, retirement and/or death benefits pursuant to a separate written
Deferred Compensation Agreement dated as of August 1, 1999 (the "Deferred
Compensation Agreement") entered into between Executive and the Company (as
successor in interest to Standard Parking, L.P.). Notwithstanding anything in
the Deferred Compensation Agreement to the contrary, upon the death of Executive
either: (i) while employed by the Company before attaining age 65 or (ii) prior
to Executive acquiring ownership of one or more of the annuity policies
identified on Schedule I attached hereto pursuant to either Paragraph 4(i) or
4(j) hereof, the Company shall pay to the beneficiary or beneficiaries
designated by Executive, or to his estate if there is no named beneficiary, an
amount equal to the full death benefits payable under the annuity policies
identified on Schedule I attached hereto, less an amount (the "Reduction
Amount") equal to the greater of (i) the Guaranteed Cash Value (as defined
below) of such annuity policies owned by the Company immediately preceding
Executive's date of death or (ii) the aggregate amount of premiums or other sums
paid by the Company or in connection with the maintenance of such policies from
their respective dates of issuance. The "Guaranteed Cash Value" of an annuity
policy shall mean the present value, as of the last anniversary of such policy
for which premiums have been paid, of future benefits provided by the policy, as
such present value is determined in accordance with or as indicated in the table
of values set forth in the policy, less any outstanding loans and loan interest.
Upon the death of Executive either: (i) after attaining age 65, if Executive's
employment with the Company continues until he attains age 65 or (ii) any time
subsequent to Executive acquiring ownership of one or more of the annuity
policies identified on Schedule 1 attached hereto pursuant to either Paragraph
4(i) or Paragraph 4(j) hereof, the Company shall pay to the beneficiary or
beneficiaries designated by Executive, or to his estate if there is no named
beneficiary, an amount equal to the full death benefits payable under the
annuity policies acquired by Executive pursuant to either Paragraph 4(i) or
Paragraph 4(j) hereof, without any Reduction Amount with respect to such annuity
policies.

         3.   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 of three (3) years beginning August 1, 1999 and ending
July 31, 2002 (the "Employment Period"). The Employment Period shall
automatically extend for additional terms of one (1) year each (individually
referred to as a "Renewal Period" and in the plural as the "Renewal Periods")
unless the Company or Executive shall have given notice in writing of their
intention not to renew the Agreement not less than three (3) months prior to the
expiration of the Employment Period or any applicable Renewal Period. The
Employment Period, as extended by one or more Renewal Periods, shall hereinafter
be deemed to be the Employment Period. Notwithstanding any such termination,
Paragraph 5 of this Agreement shall remain in full force and effect.

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         4.   Rights Upon Termination. Executive's right to payment and benefits
under this Agreement for periods after the Date of Termination shall be
determined in accordance with the following provisions of this Paragraph 4:

         (a)  The "Date of Termination" means the date of the Executive's death,
the Disability Effective Date, the date on which the termination of the
Executive's employment by the Company for Cause or Performance Reasons, as set
forth in the notice from the Company is effective, or the date on which the
Executive gives the Company notice of a termination of employment, as the case
may be.  After Executive's termination occurs for any reason, in addition to any
other obligations hereunder, the Company shall pay Executive:

              (i)    Executive's Salary for the period ending with the Date of
         Termination;

              (ii)   payment for unused vacation days accrued for the year in
         which Executive's termination occurs, as determined in accordance with
         Company's policy as in effect from time to time; and

              (iii)  any other payments or benefits to be provided to Executive
         by the Company pursuant to any employee benefit plans or arrangements
         adopted by the Company, to the extent such amounts are due from the
         Company. Except as may otherwise be expressly provided to the contrary
         in this Agreement, nothing in this Agreement shall be construed as
         requiring Executive to be treated as employed by the Company for
         purposes of any employee benefit plan following the Date of
         Termination.

         (b)  If Executive's termination occurs for any reason other than
the circumstances set forth in Paragraphs 4(c) or 4(d) below, then, except as
required by law or otherwise expressly provided in this Agreement or agreed to
in writing between Executive and the Company, and except for Salary Continuation
Payments that are to be made as provided in Paragraph 5(g), the Company shall
have no obligation to make any payments or provide any benefits for periods
after the Date of Termination.

         (c)  If Executive is terminated by the Company for any reason other
than Cause or Performance Reasons, then, in addition to the amounts payable in
accordance with Paragraph 4(a), and subject to the last sentence of this
Paragraph 4(c), Executive shall be entitled to the following:

              (i)    During the 24-month period following his termination, and
          except to the extent prohibited under the terms of any applicable
          insurance policy, he shall continue to be covered under the Company's
          welfare benefit plans to the same extent and on the same terms as
          those benefits are provided to the Company's active employees.

              (ii)   He shall receive from the Company an amount (the
          "Severance Pay") equal to the product of two times the sum of (x) the
          Executive's current annual Salary, plus (y) the amount of any Annual
          Bonus paid to Executive for the preceding calendar year, minus the
          aggregate amount of Salary Continuation Payments. The Severance Pay
          shall be paid over the 24-month period commencing on the Date of
          Termination in equal monthly or

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         more frequent installments in accordance with the Company's normal
         payroll practices, then in effect.

              (iii) He shall receive from the Company the Salary Continuation
         Payments in accordance with Paragraph 5(g).

The Company's obligation to provide welfare benefit coverage and make Severance
Payments and Salary Continuation Payments under this Paragraph 4(c) shall cease
with respect to periods after the earlier to occur of the date of Executive's
death, Permanent Disability (hereinafter defined in Paragraph 4(i)) or the date,
if any, of the breach by Executive of the provisions of Paragraph 5.

         (d)  If Executive terminates his employment hereunder voluntarily, then
Executive shall be entitled only to the Salary Continuation Payments provided in
Paragraph 5(g) and the amounts payable in accordance with Paragraph 4(a), and
Executive shall not be entitled to Severance Pay; provided, however, that if
Executive terminates his employment for Good Reason (as defined below), such
termination shall not be considered a voluntary termination by Executive and
Executive shall be treated as if he had been terminated by the Company pursuant
to Paragraph 4(c) above. "Good Reason" means,

              (i)    without the express written consent of the Executive, (1)
         the assignment to the Executive of duties inconsistent in any
         substantial respect with the Executive's position, authority or
         responsibilities within the Company, or (2) any other substantial
         adverse change in such position (including titles, authority or
         responsibilities) or significant reduction in Salary and/or Annual
         Bonus;

              (ii)   any failure by the Company to comply with any of the
         provisions of this Agreement, other than an insubstantial and
         inadvertent failure remedied by the Company promptly after receipt of
         notice thereof given by the Executive; or

              (iii)  the Company requires or otherwise takes such action as
         would require the Executive's relocation.

         (e)  For purposes of this Agreement, the term "Cause" shall mean:

              (i)    the Executive knowingly and willfully engages in or
         manifests his intent to engage in conduct which is demonstrably and
         materially injurious to the Company, monetarily or otherwise; or

              (ii)   the Executive engages in egregious misconduct involving
         serious moral turpitude to the extent that, in the reasonable judgment
         of the Company, Executive's credibility and reputation no longer
         conform to the standard of the Company's executives.

         (f)  For purposes of this Agreement, the term "Performance Reasons"
         shall mean:

              (i)    a material breach by Executive of the terms of this
         Agreement; or

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              (ii) Executive's gross misconduct or gross negligence in the
         performance of his duties.

         (g)  In the event that it shall be necessary for Executive to engage in
litigation in connection with the enforcement of his rights under Paragraphs (c)
and (d) of this Paragraph 4, he shall be entitled to recover from the Company
the reasonable attorney's fees and other costs incurred in such legal action, in
addition to any other relief to which he may be entitled; provided, however,
that Executive ultimately prevails in such litigation.

         (h)  (Intentionally Deleted)

         (i)  If Executive's employment is terminated hereunder prior to
attaining age 55 for reasons other than Cause or Performance Reasons and under
the circumstances set forth in the immediately following paragraph of this
subsection (i), Executive has the right to purchase from the Company any one or
more of the annuity policies identified on Schedule I attached hereto, provided
that Executive gives written notice to the Company within 60 days following the
Date of Termination of his intent to exercise such right of purchase and payment
therefor is made to the Company within 120 days following the Date of
Termination. From and after the time of any such purchase by Executive, the
Company shall have no further obligations of any kind with respect to or by
reason of the purchased policies or the Deferred Compensation Agreement, whether
regarding the payment of any amounts (premiums or deferred compensation or any
other amounts) or otherwise.

              If Executive's employment terminates for reasons other than Cause
or Performance Reasons, Executive may purchase any one or more of the
scheduled policies by paying the Company an amount equal to the greater of (i)
the applicable cash value of such policies, without deduction for any penalties
or charges applicable upon surrender thereof, or (ii) the aggregate amount of
premiums or other sums paid by the Company in connection with the maintenance of
such policies from their respective dates of issuance. The "applicable cash
value" of the policies means the then total cash value of the policies if
termination of employment occurs prior to Executive attaining age 47, and the
then guaranteed cash value if termination of employment occurs on or after
Executive attains age 47. If requested in writing by Executive, the Company
agrees to cooperate with Executive in borrowing against the cash value of the
policies in order to provide Executive with funds sufficient to pay the Company
the amount due hereunder. From and after the time of any such purchase by
Executive, the Company shall have no further obligations of any kind with
respect to or by reason of the purchased policies or the Deferred Compensation
Agreement, whether regarding the payment of any amounts (premiums, deferred
compensation or other amounts) or otherwise.

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         (j)

              (i)    If Executive's employment is terminated hereunder prior
         to or after attaining age 55 by reason of Executive's Permanent
         Disability (as hereinafter defined), Executive may elect (a) to receive
         from the Company, at no direct cost to Executive, an unconditional
         assignment (the "Assignment") of 100% of the Company's ownership
         interest in any one or more of the annuity policies identified on
         Schedule 1 attached hereto (the "Assignment Option"), or (b) to
         continue to have the Company maintain the annuity policies identified
         on Schedule 1, at no cost to Executive ("Maintenance Option"). The
         Assignment option shall be exercised, if at all, by written notice (the
         "Exercise Notice") given by Executive to, and received by, the Company
         not later than the first anniversary of the Date of Termination. The
         Company shall execute and deliver the Assignment to Executive within
         thirty (30) days following the Company's receipt of the Exercise
         Notice. Unless and until the Company receives a timely Exercise Notice,
         Executive shall be deemed to have elected to pursue the Maintenance
         Option. From and after the time of any Assignment, the Company shall
         have no further obligations of any kind with respect to or by reason of
         such policies or the Deferred Compensation Agreement, whether regarding
         the payment of any amounts (premiums, deferred compensation or any
         other amounts) or otherwise. The term "Permanent Disability" shall mean
         physical or mental disability which renders Executive incapable of
         performing substantially all of the duties of his employment with the
         Company, as such employment exists immediately prior to the
         commencement of such disability (the "Disability Effective Date"),
         which disability is likely to be permanent and continuing during the
         remainder of Executive's lifetime.

              (ii)   If Executive's employment is terminated hereunder after
         attaining age 55 for reasons other than Cause or Performance Reasons,
         Executive may elect, (a) the Assignment Option, or (b) the Maintenance
         Option, with the qualification that the cost of maintaining the annuity
         policies following the Date of Termination shall be borne by Executive,
         but subject to the Company Contribution. The "Company Contribution"
         means that the Company shall be responsible for the cost of maintaining
         the annuity policies for the equivalent number of years Executive
         remains with the Company after age 55. For example, if Executive
         remains with the Company for 5 years, until age 60, and then
         voluntarily terminates his employment, the Company will be responsible
         for the cost of maintaining the annuity policies for 5 years, until age
         65. Executive shall exercise the Assignment Option and/or the
         Maintenance Option in the same manner as provided in the preceeding
         subparagraph (i) above. From and after the time of the assignment
         pursuant to Executive's exercise of the Assignment Option, the Company
         shall have no further obligation of any kind with respect to or by
         reason of such policies or the Deferred Compensation Agreement, whether
         regarding the payment of any amounts (premiums, deferred compensation
         or any other amounts) or otherwise.

             5. Protection of Company Assets.

         (a)  Trade Secret and Confidential Information. Executive recognizes
and acknowledges that the acquisition and operation of, and the providing of
consulting services for,

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parking facilities is a unique enterprise and that there are relatively few
firms engaged in these businesses in the primary areas in which the Parking
Companies operates. Executive further recognizes and acknowledges that as a
result of his employment with the Parking Companies, Executive has had and will
continue to have access to confidential information and trade secrets of the
Parking Companies that constitute proprietary information that the Parking
Companies are entitled to protect, which information constitutes special and
unique assets of the Parking Companies, including without limitation (i)
information relating to the Parking Companies' manner and methods of doing
business, including without limitation, strategies for negotiating leases and
management agreements; (ii) the identity of the Parking Companies' clients,
customers, lessors and locations, and the identity of any individuals or
entities having an equity or other economic interest in any of the Parking
Companies to the extent such identity has not otherwise been voluntarily
disclosed by any of the Parking Companies; (iii) the specific confidential terms
of management agreements, leases or other business agreements, including without
limitation the duration of, and the fees, rent or other payments due thereunder;
(iv) the identities of beneficiaries under land trusts; (v) the business,
developments, activities or systems of the Parking Companies, including without
limitation any marketing or customer service oriented programs in the
development stages or not otherwise known to the general public; (vi)
information concerning the business affairs of any individual or firm doing
business with the Parking Companies; (vii) financial data and the operating
expense structure pertaining to any parking facility owned, operated, leased or
managed by the Parking Companies or for which the Parking Companies have or are
providing consulting services; and (viii) other confidential information and
trade secrets relating to the operation of the Company's business (the matters
described in this sentence hereafter referred to as the "Trade Secret and
Confidential Information").

         (b)  Customer Relationships. Executive understands and acknowledges
that the Company has expended significant resources over many years to identify,
develop, and maintain its clients. Executive additionally acknowledges that the
Company's clients have had continuous and long-standing relationships with the
Company and that, as a result of these close, long-term relationships, the
Company possesses significant knowledge of its clients and their needs. Finally,
Executive acknowledges Executive's association and contact with these clients is
derived solely from his employment with the Company. Executive further
acknowledges that the Company does business throughout the United States and
that Executive personally has significant contact with the Company customers
solely as a result of his relationship with the Company in areas including:
Chicago, Los Angeles, and Phoenix.

         (c)  Confidentiality. With respect to Trade Secret and Confidential
Information, and except as may be required by the lawful order of a court of
competent jurisdiction, Executive agrees that he shall:

              (i) hold all Trade Secret and Confidential Information in
         strict confidence and not publish or otherwise disclose any portion
         thereof to any person whatsoever except with the prior written
         consent of the Company;

              (ii) use all reasonable precautions to assure that the
         Trade Secret and Confidential Information are properly protected and
         kept from unauthorized persons;

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              (iii) make no use of any Trade Secret and Confidential
         Information except as is required in the performance of his duties for
         the Company; and

              (iv) upon termination of his employment with the Company,
         whether voluntary or involuntary and regardless of the reason or cause,
         or upon the request of the Company, promptly return to the Company any
         and all documents, and other things relating to any Trade Secret and
         Confidential Information, all of which are and shall remain the sole
         property of the Company. The term "documents" as used in the preceding
         sentence shall mean all forms of written or recorded information and
         shall include, without limitation, all accounts, budgets,
         compilations, computer records (including, but not limited to, computer
         programs, software, disks, diskettes or any other electronic or
         magnetic storage media), contracts, correspondence, data, diagrams,
         drawings, financial statements, memoranda, microfilm or microfiche,
         notes, notebooks, marketing or other plans, printed materials, records
         and reports, as well as any and all copies, reproductions or summaries
         thereof.

         Notwithstanding the above, nothing contained herein shall restrict
Executive from using, at any time after his termination of employment with the
Company, information which is in the public domain or knowledge acquired during
the course of his employment with the Company which is generally known to
persons of his experience in other companies in the same industry.

         (d)  Assignment of Intellectual Property Right.  Executive agrees to
assign to the Company any and all intellectual property rights including
patents, trademarks, copyright and business plans or systems developed, authored
or conceived by Executive while so employed and relating to the business of the
Company, and Executive agrees to cooperate with the Company's attorneys to
perfect ownership rights thereof in the Company or any one or more of the
Company. This agreement does not apply to an invention for which no equipment,
supplies, facility or Trade Secret and Confidential Information of the Company
was used and which was developed entirely on Executive's own time, unless (i)
the invention relates either to the business of the Company or to actual or
demonstrably anticipated research or development of the Parking Companies, or
(ii) the invention results from any work performed by Executive for the Parking
Companies.

         (e)  Inevitable Disclosure. Based upon the Recitals to this Agreement
and the representations Executive has made in Paragraphs 5(a) and 5(b) above,
Executive acknowledges that the Company's business is highly competitive and
that it derives significant value from both its Trade Secret and Confidential
Information not being generally known in the marketplace and from their
long-standing near-permanent customer relationships. Based upon this
acknowledgment and his acknowledgments in Paragraphs 5(a) and 5(b), Executive
further acknowledges that he inevitably would disclose the Company's Trade
Secret and Confidential Information, including trade secrets, should Executive
serve as director, officer, manager, supervisor, consultant, independent
contractor, owner of greater than 1% of the stock, representative, agent, or
executive (where Executive's duties as an employee would involve any level of
strategic, advisory, technical, creative sales, or other similar input) for any
person, partnership, joint venture, firm, corporation, or other enterprise which
is a competitor of the Company engaged in providing parking facility management
services because it would be impossible for Executive to serve in any of the
above capacities for such a competitor of the

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Company without using or disclosing the Company's Trade Secret and Confidential
Information, including trade secrets.

         (f)  Non-Solicitation. Executive agrees that while he is employed by
the Company and for a period of eighteen (18) months after the Date of
Termination, Executive shall not, directly or indirectly:

              (i) without first obtaining the express written permission of
         the Company's General Counsel which permission may be withheld solely
         in the Company's discretion, directly or indirectly contact or solicit
         business from any client or customer of the Company with whom Executive
         had any contact or about whom Executive acquired any Trade Secret or
         Confidential Information during his employment with the Company or
         about whom Executive has acquired any information as a result of his
         employment with the Company. Likewise, Executive shall not, without
         first obtaining the express written permission of the Company's General
         Counsel which permission may be withheld solely in the Company's
         discretion, directly or indirectly contact or solicit business from any
         person responsible for referring business to the Company or who
         regularly refers business to the Company with whom Executive had any
         contact or about whom Executive acquired any Trade Secret or
         Confidential Information during his employment with the Company or
         about whom Executive has acquired any information as a result of his
         employment with the Company. Executive's obligations set forth in this
         subparagraph are in addition to those obligations and representations,
         including those regarding Trade Secret and Confidential Information and
         Inevitable Disclosure set forth elsewhere in this Agreement; or

              (ii) take any action to recruit or to assist in the
         recruiting or solicitation for employment of any officer, employee or
         representative of the Parking Companies.

         It is not the intention of the Company to interfere with the employment
opportunities of former employees except in those situations, described above,
in which such employment would conflict with the legitimate interests of the
Company. If the Executive, after the termination of his employment hereunder,
has any question regarding the applicability of the above provisions to a
potential employment opportunity, Executive acknowledges that it is his
responsibility to contact the Company so that the Company may inform Executive
of its position with respect to such opportunity.

         (g)  As additional consideration for the representation and
restrictions contained in Paragraph 5, the Company agrees to pay Executive as
follows (the "Salary Continuation Payments"):

              (i) if Executive's termination occurs for any reason other
         than Cause, the sum of $150,000 in equal monthly installments for up
         to eighteen (18) months following the Date of Termination;

              (ii) if Executive's termination occurs for Cause, the sum of
         $50,000 in equal monthly installments for up to eighteen (18) months
         following the Date of Termination.

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In the event Executive breaches this Agreement at any time during the 18-month
period following the Date of Termination, the Company's obligation to continue
any Salary Continuation Payments shall immediately cease and Executive agrees to
return to Company all Salary Continuation Payments paid up to that time.

         (h)  Remedies. Executive acknowledges that the Company would be
irreparably injured by a violation of the covenants of this Paragraph 5 and
agrees that the Company, or any one or more of the Parking Companies, in
addition to any other remedies available to it or them for such breach or
threatened breach, shall be entitled to a preliminary injunction, temporary
restraining order, or other equivalent relief, restraining Executive from any
actual or threatened breach of any of the provisions of this Paragraph 5. If a
bond is required to be posted in order for the Company or any one or more of the
Company to secure an injunction or other equitable remedy, the parties agree
that said bond need not exceed a nominal sum. This paragraph shall be applicable
regardless of the reason for Executive's termination of employment, and
independent of any alleged action or alleged breach of any provision hereby by
the Company. If at any time any of the provisions of this Paragraph 5 shall be
determined to be invalid or unenforceable by reason of being vague or
unreasonable as to duration, area, scope of activity or otherwise, then this
Paragraph 5 shall be considered divisible (with the other provisions to remain
in full force and effect) and the invalid or unenforceable provisions shall
become and be deemed to be immediately amended to include only such time, area,
scope of activity and other restrictions, as shall be determined to be
reasonable and enforceable by the court or other body having jurisdiction over
the matter, and Executive expressly agrees that this Agreement, as so amended,
shall be valid and binding as though any invalid or unenforceable provision had
not been included herein.

         (i)  Attorneys' Fees. In the event of litigation in connection with or
concerning the subject matter of this Agreement, the prevailing party shall be
entitled to recover all costs and expenses of litigation incurred by it,
including attorneys' fees and, in the case of the Company, reasonable
compensation for the services of its internal personnel.

         6.   Severability. The invalidity or unenforceability of any provision
of this Agreement will not affect the validity or enforceability of any other
provision of this Agreement, and this Agreement will be construed as if such
invalid or unenforceable provision were omitted (but only to the extent that
such provision cannot be appropriately reformed or modified). Nothing contained
in Paragraph 5(d) or this Paragraph 6 shall constitute an admission, nor create
an inference, that any provision of this Agreement or the application thereof to
any party or circumstance, is invalid or unenforceable.

         7.   Notices. Any notice which any party shall be required or shall
desire to serve upon the other shall be in writing and shall be delivered
personally or sent by registered or certified mail, postage prepaid, or sent by
facsimile or prepaid overnight courier, to the parties at the addresses set
forth below (or such other addresses as shall be specified by the parties by
like notice):

                                       11

<PAGE>   12

                  In the case of Executive to:

                  James A. Wilhelm
                  321 Pinehurst Drive
                  Des Plaines, Illinois 60016

                  In the case of the Company to:

                  APCOA/Standard Parking, Inc.
                  900 North Michigan Avenue
                  Suite 1600
                  Chicago, Illinois 60611
                  Attention: General Counsel

         8.   Applicable Law. This Agreement shall be construed in accordance
with the laws and decisions of the State of Illinois, without regard to the
conflict of law provisions thereof

         9.   Nonalienation. The interests of Executive under this Agreement are
not subject in any manner to anticipation, alienation, sale, transfer,
assignment, pledge, encumbrance, attachment, or garnishment by creditors of
Executive or Executive's beneficiary.

         10.  Amendment. This Agreement may be amended or cancelled only by
mutual agreement of the parties in writing without the consent of any other
person.

         11.  Waiver of Breach. No waiver by any party hereto of a breach of any
provision of this Agreement by any other party, or of compliance with any
condition or provision of this Agreement to be performed by such other party,
will operate or be construed as a waiver of any subsequent breach by such other
party or any similar or dissimilar provisions and conditions at the same or any
prior or subsequent time. The failure of any party hereto to take any action by
reason of such breach will not deprive such party of the right to take action at
any time while such breach continues.

         12.  Successors. This Agreement shall be binding upon, and inure to the
benefit of, the Company and its successors and assigns and upon any person
acquiring, whether by merger, consolidation, purchase of assets or otherwise,
all or substantially all of the Company's assets and business. Executive's
duties hereunder are personal and may not be assigned.

         13.  Entire Agreement. Except as otherwise noted herein, this
Agreement, constitutes the entire agreement between the parties concerning the
subject matter hereof and supersedes all prior and contemporaneous agreements
and understandings, either oral or in writing, if any, between the parties
relating to the subject matter hereof.

         14.  Acknowledgement by Executive. Executive has read and fully
understands the terms and conditions set forth herein, has had time to reflect
on and consider the benefits and consequences of entering into this Agreement
and has had the opportunity to review the terms

                                       12
<PAGE>   13

hereof with an attorney or other representative, if he so chooses. Executive has
executed and delivered this Agreement as his free and voluntary act, after
having determined that the provisions contained herein are of a material benefit
to him, and that the duties and obligations imposed on him hereunder are fair
and reasonable and will not prevent him from earning a livelihood following the
Date of Termination.

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

                                 APCOA/STANDARD PARKING, INC.

                                 By:  [SIG]
                                     ---------------------------
                                 Its:
                                     ---------------------------

                                 EXECUTIVE:

                                 /s/ James A. Wilhelm
                                 -------------------------------
                                 James A. Wilhelm

                                       13

<PAGE>   14

                         EXECUTIVE EMPLOYMENT AGREEMENT

                                JAMES A. WILHELM

                                   SCHEDULE I
<TABLE>
<CAPTION>
INSURED                                 INSURER                      POLICY #                FACE VALUE(1)
<S>                                  <C>                             <C>                     <C>
James A. Wilhelm                     Guardian Life                   3060461                  $100,000

James A. Wilhelm                     Guardian Life                   3322652                  $ 50,000

James A. Wilhelm                     Guardian Life                   3515527                  $140,000

James A. Wilhelm                     Guardian Life                   4024974                  $100,000
</TABLE>

-------------------------------

(1)  The "Face Value" is listed for identification purposes only. It is
acknowledged that the amount of the actual Death Benefits payable under any
given policy may be greater than the designated Face Value, and that the Death
Benefits so payable are not intended to be limited or constrained in any way by
reason of the above Face Value listing.
<PAGE>   15

                         DEFERRED COMPENSATION AGREEMENT

          This Agreement is made and entered into as of August 1, 1999 by
and between APCOA/Standard Parking, Inc., a Delaware corporation (the
"COMPANY"), and James A. Wilhelm (the "EMPLOYEE").

                                    RECITALS

         A. The Company regards the Employee as important to the long-term
growth and profitability of the Company and has determined that it would be to
the advantage and interest of the Company to provide certain additional
compensation to the Employee if the Employee continues his employment with the
Company until his retirement or earlier death.

         B. The Employee wishes to be assured that he or his family will be
entitled to a certain amount of additional compensation for some definite period
of time from and after his retirement from active service with the Company,
whether by reason of his death or otherwise.

         C. The parties hereto wish to provide the terms and conditions upon
which the Company shall pay such additional compensation to the Employee or his
family after his retirement or death.

                                     CLAUSES

         Now, therefore, in consideration of the premises and of the mutual
promises contained herein, the parties hereto agree as follows:

          1.   DEFINITIONS.

          (a)  "ANNUAL RETIREMENT BENEFIT" means an amount equal to $112,500 per
               annum which, subject to the conditions set forth herein, is to be
               paid by the Company to the Employee during the period described
               in Section 2 hereof.

<PAGE>   16

          (b)  "COMMENCEMENT DATE" means the first day of the third month
               following the Retirement Date, which is May 1, 2019.

          (c)  "COMPUTATION DATE" means the May 1 nearest to the date of the
               Employee's death.

          (d)  "DISABLED" OR "DISABILITY" means that the Employee is not able
               to perform substantially all of the duties of his regular
               occupation with the Company, except that after the first full
               twenty-four (24) months of such disability, it means that the
               Employee is not able to perform substantially all of the duties
               of his occupation with the Company or any other occupation for
               which he is or becomes fitted by education, training or
               experience. The determination of whether the Employee is Disabled
               shall be made by the Company and shall be final and binding upon
               the Employee.

          (e)  "QUALIFYING DISABILITY PERIOD" means the time during which the
               Employee is Disabled, but only if the Employee's Disability first
               occurs while the Employee is in the employ of the Company on a
               full time basis.

          (f)  "RETIREMENT BENEFITS" means the aggregate of all of the Annual
               Retirement Benefit payments due to the Employee for the period
               described in Section 2 hereof.

                                           2

<PAGE>   17
          (g)  "RETIREMENT - DATE" means the date on which the Employee attains
               age sixty-five (65).

          2.   RETIREMENT BENEFITS. In consideration of the Employee remaining
in its employ, as additional compensation, the Company agrees to pay to the
Employee an Annual Retirement Benefit on the Commencement Date and on each
anniversary of the Commencement Date until the first to occur of (a) fifteen
(15) such annual payments having been made or (b) the Employee's death.
Notwithstanding the foregoing, the Employee will not be entitled to any
Retirement Benefits unless the Employee remains in the employ of the Company on
a full-time basis without any break or interruption in service (other than a
break or interruption in service during a Qualifying Disability Period) from the
date hereof to the Retirement Date.

          3.   DEATH OF EMPLOYEE. Notwithstanding anything to the contrary
herein contained, upon the death of Employee, all of the Company's obligations
hereunder shall immediately cease and terminate (except for any unpaid
obligations that shall have accrued prior to Employee's death by reason of
paragraph 2 above), and the Company thereafter shall have no further obligation
hereunder of any kind or nature whatsoever.

          4.   TERMINATION OF EMPLOYMENT. The Company's obligations under
Section 2 are conditioned upon the continuous employment of Employment by the
Company (or by one of Its partners or affiliates) until his Retirement Date. If
the Employee's employment Is terminated prior to the Retirement Date for any
reason whatsoever, except as a result of the Employee's Disability,

                                       3

<PAGE>   18

then the Employee shall not be entitled to any Retirement Benefits provided
under this Agreement and all of the Company's obligations hereunder shall
immediately lapse and terminate. If the Employee's employment is terminated on
account of his Disability, the Employee shall be entitled to the Retirement
Benefits on the terms and subject to the conditions set forth herein, but only
if his Disability continues until the earlier of (a) his Retirement Date, or (b)
the date on which he is re-employed by the Company in substantially the same
capacity and performing substantially all of the duties of his employment as at
the time the Disability began.

          5. TAX WITHHOLDING. The Company shall report the full amount of the
Retirement Benefits as compensation to the Employee in the year in which such
amount are paid or as the Company may otherwise determine is required by law.
Such amounts will be reflected on the Form W-2 issued to the Employee and will
be subject to withholding for federal, state and local income and employment
taxes as determined by the Company.

         6. ASSIGNMENT. The Employee shall not have any power or right to
transfer, assign, anticipate, pledge, hypothecate or otherwise encumber any part
or all of the amounts payable under this Agreement, nor shall such amounts be
subject to attachment, garnishment, levy, execution or other legal or equitable
process by any creditor of the Employee, and no such benefit shall be
transferrable by operation of law in the event of bankruptcy, insolvency or
death of the Employee. Any such attempted assignment, transfer or encumbrance
shall be null and void and shall terminate the Company's obligations under this
Agreement and the Company shall thereupon have no further liability to the
Employee.

                                        4

<PAGE>   19

          7. UNFUNDED ARRANGEMENT. It is the intention of the parties that this
Agreement shall constitute an unfunded and unsecured arrangement maintained for
the purpose of providing deferred compensation for a select member of the
Company's management and/or a highly compensated employee for purposes of Title
I of ERISA and for federal income tax purposes. Any and all reserves,
investments, insurance policies or other assets that may be set aside or
purchased by the Company to fund its obligations hereunder shall belong solely
to the Company, and the Employee shall not have any rights, claims or interest
therein. The Company's obligations hereunder shall be payable solely from the
assets of the Company. Nothing contained in this Agreement, and no action taken
pursuant to its provisions, shall (a) require the Company to set aside any
reserves or other assets to fund its obligations hereunder or (b) create, or be
construed to create, a trust of any kind. There is no guaranty that the
Company's assets will be sufficient to pay the benefits contained herein. The
Employee agrees that no general or limited partner, employee or agent of the
Company (and no officer, director, employee, agent or shareholder of the
Company's general partner) shall be liable for any obligation of the Company of
any loss or claim incurred by the Employee in connection with this Agreement.
The Employee hereby releases the Company's general partner or general partners,
whether now serving or that may hereafter become admitted as a general partner,
from any and all liability to pay the Company's obligations under this Agreement
or to contribute or advance funds to the Company to enable it to satisfy such
liability.

          8. SUBJECT TO CLAIMS OF CREDITORS. Payments to be made to the
Employee shall be made from assets which, for all purposes, shall continue to be
a part of the general assets of the

                                       5

<PAGE>   20

Company, and no person shall have, by virtue of the provisions of this
Agreement, any interest in, preferred claim on or beneficial interest in any of
the Company's assets. The rights of the Employee to receive payments from the
Company under the provisions hereof shall be a mere unsecured contractual right
and shall be no greater than the right of any unsecured general creditor of the
Company.

          9.  NO PRIOR RIGHTS. This Agreement is not a contract of employment
and neither this Agreement nor any action taken hereunder shall be construed as
giving the Employee any right to be retained in the employ of the Company or any
of its partners or affiliates nor limit the right of the Company to discharge
the Employee. This Agreement provides solely for additional compensation for the
Employee's services, payable after the termination of his employment with the
Company and is not intended to be an employment contract.

          10. INTEGRATION. This Agreement sets forth the entire agreement
between the parties with respect to the matters described herein and all prior
discussions and negotiations between them with respect to this subject matter
are hereby merged into this Agreement. This Agreement supersedes any and all
previous agreements between the parties or between the Employee and the general
partner of the Company, written or oral, relating to the subject matter hereof.

          11. AMENDMENTS. This Agreement may not be amended, altered or
modified, except by a written instrument signed by the parties hereto, or their
respective successors or assigns, any may not be otherwise terminated except as
provided herein.

                                        6

<PAGE>   21

          12. SUCCESSORS. This Agreement shall be binding upon and inure to the
benefit of the Company, its successors and assigns, and the Employee and his
successors, assigns, heirs, executors, administrators and beneficiaries.

          13. NOTICES. Any notice, consent or demand required or permitted to be
given under the provisions of this Agreement shall be in writing, and shall be
signed by the party giving or making the same. If such notice, consent or demand
is mailed to a party hereto, it shall be sent by United States certified mail,
return receipt requested, postage repaid, addressed to the Company at its
principal office or to the Employee at his last known residence address as shown
on the records of the Company. The date of such mailing shall be deemed the date
of notice, consent or demand.

          14. ATTORNEY'S FEES. If any action at law or in equity, or any
arbitration proceeding, is brought to enforce or interpret the terms of this
Agreement, the prevailing party shall be entitled to reasonable attorney's fees,
costs and necessary disbursements in addition to any other relief to which he
may be entitled.

          15. ILLINOIS LAW. This Agreement and the rights of the parties
hereunder, shall be governed by and construed in accordance with the laws of the
State of Illinois. Both parties hereby consent to the exclusive jurisdiction of
any state or federal court located within Cook County, Illinois, which is the
location of the Company's principal office, and agree that any litigation or
other proceeding instituted hereunder shall be brought in such county and state.
The parties waive any

                                        7

<PAGE>   22

objection they may have based on improper venue or forum non conveniens to the
conduct of any proceeding instituted in Cook County, Illinois.

         IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the day and year first written above.

                                  COMPANY:

                                  APCOA/Standard Parking, Inc.,
                                  a Delaware corporation

                                  By: [sig]
                                     ---------------------------------------
                                  Its:
                                      -------------------------------------

                                  EMPLOYEE:

                                  /S/ James A. Wilhelm
                                  ---------------------------------------
                                      JAMES A. WILHELM<PAGE>   1
                                                                   EXHIBIT 10.19

                              EMPLOYMENT AGREEMENT

         THIS EMPLOYMENT AGREEMENT (this "Agreement"), dated as of March
26,1998, is by and between Standard Parking, L.P., a Delaware limited
partnership (the "Company"), and Steven A. Warshauer (the "Executive").

         WHEREAS, prior to the date hereof, the Executive has been employed by
the Company and the Company desires to have Executive continue in its employ;
and

         WHEREAS, pursuant to that certain Combination Agreement, dated as of
January 15, 1998, between, among others, APCOA, Inc., a Delaware corporation ("
APCOA "), the Company and the equity holders of the Company, all of the equity
interests of the Company are being sold to APCOA; and

         WHEREAS, the Company understands that APCOA intends to continue in the
business of operating private and public parking facilities for itself, its
affiliates (including the Company and its affiliates) and others, and as a
consultant and/or manager for parking facilities operated by others throughout
the United States (APCOA, its subsidiaries and affiliates (including the Company
and its subsidiaries and affiliates), and any other APCOA-controlled businesses
engaged in parking garage management (in each case including their predecessors
or successors) are referred to hereinafter as the "Parking Companies"); and

         WHEREAS, the general partner of the Company has determined that it is
in the best interest of the Company to continue to employ the Executive as an
Executive Vice President, and the Executive desires to continue to serve the
Company in that capacity; and

                                       18
<PAGE>   2

         WHEREAS, the Company desires to continue to employ the Executive and
the Executive desires to continue to work for the Company on the terms and
conditions set forth herein.

         NOW, THEREFORE, IT IS HEREBY AGREED 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 the period beginning on the date hereof (the "Effective Date")
and ending on the third anniversary hereof (the "Employment Period"), provided,
however, that commencing on the date two years after the Effective Date and on
each annual anniversary of such date (each annual anniversary thereof shall
hereinafter be referred to as the "Renewal Date"), unless previously terminated,
the Employment Period shall be automatically extended so as to terminate two
years from the Renewal Date, so that there is always between one and two years
remaining in the Employment Period, unless 90 days prior to the Renewal Date the
Company or the Executive shall terminate this Agreement by giving notice to the
other party that the Employment Period shall not be so extended (a "Notice of
Nonrenewal"). Notwithstanding any such termination, Section 6 of this Agreement
shall remain in full force and effect.

         2. Position and Duties. During the Employment Period, the Executive
shall serve as an Executive Vice President, with the duties and responsibilities
currently associated with such position. During the Employment Period, and
excluding any periods of vacation and sick leave to which the Executive is
entitled, the Executive shall devote full attention and time during normal
business hours to the business and affairs of the Company and, to the extent
necessary to discharge the responsibilities assigned to the Executive under this
Agreement, use the Executive's reasonable best efforts to carry out such
responsibilities faithfully and efficiently.

                                      -2-

<PAGE>   3

The Executive shall not, during the term of this Agreement, engage in any other
business activities that will interfere with the Executive's employment pursuant
to this Agreement. During the Employment Period, the Executive's services shall
be performed primarily in Chicago, Illinois.

         3. Compensation. (a) Base Salary. During the Employment Period, the
Executive shall receive an annual base salary ("Annual Base Salary") of no less
than $300,000, payable in accordance with the normal payroll practices for
executives of the Company as in effect from time to time (but no less frequently
than monthly). Such Annual Base Salary shall be subject to review annually in
accordance with the review policies and practices for executives of the Company
as in effect at the time of any such review.

         (b) Bonus. For each calendar year ending during the Employment Period,
the Executive shall be eligible to receive an annual bonus (the "Annual Bonus"),
based upon the terms and conditions of an annual bonus program to be established
by the Company. Any such annual bonus program shall provide that the Executive's
target bonus ("Target Annual Bonus") will be a percentage of the Annual Base
Salary mutually agreed upon by the Company and Executive.

         (c) Equity Plan. In the event the Company adopts an equity incentive
plan or program (the "Equity Plan") for its key executives, the Executive shall
be entitled to participate in the Equity Plan from and after the effective date
thereof in accordance with the terms and conditions of such plan.

         (d) Other Benefits. In addition to the foregoing, during the Employment
Period: (i) the Executive shall be entitled to participate in savings,
retirement, and fringe benefit plans,

                                       -3-

<PAGE>   4

practices, policies and programs of the Company as in effect from time to time,
on the same terms and conditions as those applicable to peer executives; (ii)
the Executive shall be entitled to four weeks of annual vacation, to be taken in
accordance with the vacation policy as in effect from time to time; and (iii)
the Executive and/or the Executive's family, as the case may be, shall be
eligible for participation in, and shall receive all benefits under medical,
dental, disability and other welfare benefit plans, practices, policies and
programs provided by the Company, as in effect from time to time, on the same
terms and conditions as those applicable to peer executives.

         (e) Executive shall be reimbursed by the Company for business expenses
incurred on behalf of the Parking Companies in accordance with the policies and
practices of the Company as in effect from time to time.

         4. Termination of Employment. (a) Death or Disabili1y. In the event of
the Executive's death during the Employment Period, the Executive's employment
with the Company shall terminate automatically. The Company, in its discretion,
shall have the right to terminate the Executive's employment because of the
Executive's Disability during the Employment Period. "Disability" means that (i)
the Executive has been unable, for a period of 180 consecutive days, or for
periods aggregating 180 business days in any period of twelve months, to perform
the Executive's, duties under this Agreement, as a result of physical or mental
illness or injury, and (ii) a physician selected by the Company or its insurers
has determined that the Executive's incapacity is total and permanent. A
termination of the Executive's employment by the Company for Disability shall be
communicated to the Executive by written notice, and shall be effective on the
30th day after receipt of such notice by the

                                      -4-

<PAGE>   5

Executive (the "Disability Effective Date") unless the Executive returns to
full-time performance of the Executive's duties before the Disability Effective
Date.

         (b) By the Company. In addition to termination for Disability, the
Company may terminate the Executive's employment during the Employment Period
for Cause or without Cause. "Cause" means:

                  (i)      the continued and willful or deliberate failure of
         the Executive substantially to perform the Executive's duties, or to
         comply with the Executive's obligations, under this Agreement (other
         than as a result of physical or mental illness or injury), or

                  (ii)     illegal conduct or gross misconduct by the Executive,
         in either case that is willful and results in material damage to the
         business or reputation of the Company.

Upon the occurrence of events constituting Cause as defined in subsection (i) of
this paragraph (b), the Company shall give the Executive advance notice of any
such termination for Cause and shall provide the Executive with a reasonable
opportunity to cure.

         (c)      Voluntarily by the Executive. The Executive may terminate his
employment by giving written notice thereof to the Company.

         (d)      Date of Termination. The "Date of Termination" means the date
of the Executive's death, the Disability Effective Date, the date on which the
termination of the Executive's employment by the Company for Cause as set forth
in notice from the Company is effective, or the date on which the Executive
gives the Company notice of a termination of employment, as the case may be.
After the Executive's termination occurs for any reason, in addition to any
other obligations hereunder, the Company shall pay the Executive:

                                       -5-
<PAGE>   6

                  (i)      the Executive's Annual Base Salary for the period
         ending with the Date of Termination;

                  (ii)     payment for unused vacation days accrued for the year
         in which the Executive's termination occurs, as determined in
         accordance with the Company policy as in effect from time to time; and

                  (iii)    any other payments or benefits to be provided to the
         Executive by the Company pursuant to any employee benefit plans or
         arrangements adopted by the Company, to the extent such amounts are due
         from the Company. Except as may otherwise be expressly provided to the
         contrary in this Agreement, nothing in this Agreement shall be
         construed as requiring Executive to be treated as employed by the
         Company for purposes of any employee benefit plan following the Date of
         Termination.

         5.       Additional Obligations of the Company upon Termination. (a) By
the Company Other Than for Cause, Death or Disability: If, during the Employment
Period, the Company terminates the Executive's employment, other than for Cause,
death or Disability, but excluding any termination of employment at the end of
the Employment Period (whether or not as a result of a Notice of Nonrenewal by
the Company), the Company shall, for the remainder of the Employment Period as
in effect immediately before the Date of Termination, continue to pay the
Executive the Annual Base Salary and Annual Bonus(es) through the end of the
then-current Employment Period, as and when such amounts would be paid in
accordance with Sections 3(a) and (b) above; provided, that the amount of each
of the Annual Bonus(es) so paid shall equal the Target Annual Bonus. The Company
shall also continue to provide for the same period welfare benefits to the
Executive and/or the Executive's family, at least as favorable as those

                                       -6-

<PAGE>   7
that would have been provided to them under clause (d)(iv) of Section 3 of this
Agreement if the Executive's employment had continued until the end of the
Employment Period; provided, that during any period when the Executive is
eligible to receive such benefits under another employer-provided plan, the
benefits provided by the Company under this Section 5(a) may be made secondary
to those provided under such other plan. The payments provided pursuant to this
Section 5(a) are intended as liquidated damages for a termination of the
Executive's employment by the Company other than for Cause or Disability and
shall be the sole and exclusive remedy therefor.

         (b)      Death. If the Executive's employment is terminated by reason
of the Executive's death during the Employment Period, the Company shall make,
within 30 days after the Date of Termination, a lump-sum cash payment to the
Executive's estate equal to the sum of (i) the Executive's Annual Base Salary
through the end of the calendar month in which death occurs, (ii) any earned and
unpaid Annual Bonus for any calendar year ended prior to the Date of
Termination, (iii) any accrued but unpaid vacation pay and (iv) any other vested
benefits to which the Executive is entitled, in each case to the extent not yet
paid.

         (c)      Disability. In the event the Executive's employment is
terminated by reason of the Executive's Disability during the Employment Period
in accordance with Section 4(a) hereof, the Company shall pay to the Executive
or the Executive's legal representative, as applicable, (i) the Executive's
Annual Base Salary for the duration of the Employment Period in effect on the
Date of Termination, provided that any such payments made to the Executive shall
be reduced by the sum of the amounts, if any, payable to the Executive under any
disability benefit plans of the Company or under the Social Security disability
insurance program, (ii) any earned and unpaid Annual Bonus for any calendar year
ended prior to the Date of Termination and (iii)

                                      -7-

<PAGE>   8

any other vested benefits to which the Executive is entitled, in each case to
the extent not yet paid.

         (d)      Cause: Voluntary Termination. If the Executive's employment is
terminated by the Company for Cause or the Executive voluntarily terminates his
employment during the Employment Period, the Company shall pay the Executive
only those amounts specified in Section 5(d), in each case to the extent not yet
paid, and the Company shall have no further obligations under this Agreement.

         (e)      Termination After a Change in Control. (i) If Executive is
terminated by the Company during the three-year period following a Change in
Control (as defined in Section 5(f) below) for any reason other than Cause, then
Executive shall be entitled to the following:

                  (A)      During the longer of (i) the 18-month period
         following his termination and (ii) the remainder of the Employment
         Period in effect at the date of termination, and except to the extent
         prohibited under the terms of any applicable insurance policy, he shall
         continue to be covered under the Company's welfare benefit plans to the
         same extent and on the same terms as those benefits are provided to the
         Company's active employees.

                  (B)      He shall receive from the Company an amount (the
         "Severance Pay") equal to the greater of (i) one and one-half times the
         sum of (x) the Executive's current Annual Base Salary plus (y) the
         amount of any bonus paid to Executive in the preceding twelve months
         and (ii) the Annual Base Salary and Annual Bonuses through the end of
         the then current Employment Period (provided, that the amount of each
         of the Annual

                                       -8-

<PAGE>   9

         Bonuses so paid shall equal the Target Annual Bonus). The Severance Pay
         amount shall be paid (a) if clause (i) in the previous sentence
         applies, over the 18-month period commencing on the date Executive's
         employment terminates, in equal monthly or more frequent installments
         in accordance with the Company's payroll schedule or (b) if clause (ii)
         in the previous sentence applies, as and when such amounts would be
         paid in accordance with Sections 3(a) and (b) above.

The Company's obligation to provide welfare benefit coverage and make severance
payments under this Section 5(e) shall cease with respect to periods after the
earlier to occur of the date of Executive's death, or the date, if any, of the
breach by Executive of the provisions of Section 6.

         (ii)     If Executive terminates his employment hereunder voluntarily
following a Change in Control, then Executive shall not be entitled to Severance
Pay; provided, however, that if Executive terminates his employment for Good
Reason (as defined below) during the three-year period following a Change in
Control, such termination shall not be considered a voluntary termination by
Executive and Executive shall be treated as if he had been terminated by the
Company pursuant to paragraph (i) of this Section 5(e) above. "Good Reason"
means, in the event of or following a Change in Control:

                  (A)      without the express written consent of the Executive,
         (1) the assignment to the Executive of duties inconsistent in any
         substantial respect with the Executive's position, authority or
         responsibilities as held, exercised and assigned during the ninety (90)
         day period immediately preceding the Change in Control, or (2) any
         other substantial adverse change in such position (including titles,
         authority or responsibilities)

                                   -9-

<PAGE>   10
         or significant reduction in salary, unless in either case the change is
         warranted by an objective evaluation of Executive's performance or is
         related to a bona fide company restructuring;

                  (B)      any failure by the Company to comply with any of the
         provisions of this Agreement, other than an insubstantial and
         inadvertent failure remedied by the Company promptly after receipt of
         notice thereof given by the Executive; or

                  (C)      the Company requires or otherwise takes such action
         as would reasonably require the Executive's relocation.

         (f)      For purposes of this Agreement, the term "Change in Control"
shall mean the first to occur of the date Myron C. Warshauer either (i) no
longer serves as Chief Executive Officer of the Company or (ii) no longer
retains, for whatever reason, primary responsibility for the daily management of
the Company and the ability to implement his management decisions with respect
to the Company.

         (g)      In the event that it shall be necessary for Executive to
engage in litigation in connection with the enforcement of his rights under
paragraphs (i) and (ii) of Section 5(e), he shall be entitled to recover from
the Company the reasonable attorney's fees and other costs incurred in such
legal action, in addition to any other relief to which he may be entitled;
provided, however, that Executive ultimately prevails in such litigation.

         6.       Protection of the Company Assets (Confidentiality.
Non-Competition and Other Matters). (a) Executive recognizes and acknowledges
that the acquisition and operation of, and the providing of consulting services
for, parking facilities is a unique enterprise and that there

                                      -10-

<PAGE>   11

  are relatively few firms engaged in these businesses in the primary areas in
  which the Parking Companies operate. Executive further recognizes and
  acknowledges that as a result of his employment with the Parking Companies,
  Executive has had and will continue to have access to confidential information
  and trade secrets of the Parking Companies that constitute proprietary
  information that the Parking Companies are entitled to protect, which
  information constitutes special and unique assets of the Parking Companies,
  including, but not limited to, (i) information relating to the Parking
  Companies' manner and methods of doing business, including, but not limited
  to, strategies for negotiating leases and management agreements; (ii) the
  identity of the Parking Companies' clients, customers, lessors and locations,
  and the identity of any individuals or entities having an equity or other
  economic interest in any of the Parking Companies to the extent such identity
  has not otherwise been voluntarily disclosed by any of the Parking Companies;
  (iii) the specific confidential terms of management agreements, leases or
  other business agreements, including, but not limited to, the duration of, and
  the fees, rent or other payments due thereunder; (iv) the identities of
  beneficiaries under land trusts; (v) the business, developments, activities or
  systems of the Parking Companies, including, but not limited to, any
  marketing or customer service oriented programs in the development stages or
  not otherwise known to the general public; (vi) information concerning the
  business affairs of any individual or firm doing business with the Parking
  Companies; (vii) financial data and the operating expense structure pertaining
  to any parking facility owned, operated, leased or managed by the Parking
  Companies or for which the Parking Companies have or are providing consulting
  services; and (viii) other confidential information and trade secrets relating
  to the operation of the Company's business (the matters described in this
  sentence hereafter referred to as the "Trade Secrets").

                                      -11-

<PAGE>   12

         (b)      Confidentiality. With respect to Trade Secrets, and except as
may be required by the lawful order of a court of competent jurisdiction, the
Executive agrees that he shall:

                  (i)      hold all Trade Secrets in strict confidence and not
                  publish or otherwise disclose any portion thereof to any
                  person whatsoever except with the prior written consent of the
                  Parking Companies;

                  (ii)     use all reasonable precautions to assure that the
                  Trade Secrets are properly protected and kept from
                  unauthorized persons;

                  (iii)    make no use of any Trade Secrets except as is
                  required in the performance of his duties for the Parking
                  Companies; and

                  (iv)     upon termination of his employment with the Parking
                  Companies, whether voluntary or involuntary and regardless of
                  the reason or cause, or upon the request of the Parking
                  Companies, promptly return to the Parking Companies any and
                  all documents, and other things relating to the Trade Secrets,
                  all of which are and shall remain the sole property of the
                  Parking Companies. The term "documents" as used in the
                  preceding sentence shall mean all forms of written or recorded
                  information and shall include, but not be limited to, all
                  accounts, budgets, compilations, computer records (including,
                  but not limited to, computer, programs, software, disks,
                  diskettes or any other electronic or magnetic storage media),
                  contracts, correspondence, data, diagrams, drawings, financial
                  statements, memoranda, microfilm or microfiche, notes,
                  notebooks, marketing or other plans, printed materials,
                  records and reports, as well as any and all copies,
                  reproductions or summaries thereof.

                                      -12-

<PAGE>   13
Notwithstanding the above, nothing contained herein shall restrict Executive
from using, at any time after his termination of employment with the Company,
information which is in the public domain or knowledge acquired during the
course of his employment with the Company which is generally known to persons of
his experience in other companies in the same industry.

         (c)      Assignment of Intellectual Property Rights. The Executive
agrees to assign to the Company any and all intellectual property rights
including patents, trademarks, copyright and business plans or systems
developed, authored or conceived by the Executive while so employed and relating
to the business of the Parking Companies, and the Executive agrees to cooperate
with the Company's attorneys to perfect ownership rights thereof in the Company
or any one or more of the Parking Companies. This agreement does not apply to an
invention for which no equipment, supplies, facility or trade secret information
of the Parking Companies was used and which was developed entirely on the
Executive's own time, unless (i) the invention relates either to the business of
the Parking Companies or to actual or demonstrably anticipated research or
development of the Parking Companies, or (ii) the invention results from any
work performed by the Executive for the Parking Companies.

         (d)      Covenants Not to Compete. The Executive agrees that while he
is employed by the Company and for a period of two (2) years after the date on
which such employment terminates (or eighteen (18) months after the date such
employment terminates if such termination follows a Change in Control), the
Executive shall not, directly or indirectly:

                  (i)      have an ownership interest in (other than ownership
                  of 5% or less of the outstanding stock of any entity listed
                  on the New York or American Stock Exchange or included in the
                  National Association of Securities Dealers Automated Quotation
                  System)

                                      -13-

<PAGE>   14

any corporation, firm, joint venture, partnership, proprietorship, or other
entity or association which manages, owns or operates a parking facility that is
competitive with the business of the Parking Companies in any of the
metropolitan areas in which, as of the time Executive's employment terminates,
the Parking Companies own, manage and/or operate one or more parking facilities
(hereinafter the "Metropolitan Areas");

                  (ii)     become employed by, work for, consult with, or assist
                  any person, corporation, firm, joint venture, partnership,
                  proprietorship, or any other entity or association that is
                  engaged in a business which is competitive with the business
                  of the Parking Companies in the Chicago metropolitan area or
                  in any of the other Metropolitan Areas in which the Executive
                  has been responsible for performing supervisory or other
                  services on behalf of any of the Parking Companies within the
                  three (3) years immediately preceding the termination of his
                  employment;

                  (iii)    contact or solicit business from any client or
                  customer of the Parking Companies or from any person who is
                  responsible for referring or who regularly refers business to
                  the Parking Companies; or

                  (iv)     take any action to recruit or to assist in the
                  recruiting or solicitation for employment of any officer,
                  employee or representative of the Parking Companies.

It is not the intention of me Parking Companies to intertere with the employment
opportunities of former employees except in those situations, described above,
in which such employment would conflict with the legitimate interests of the
Parking Companies. If the Executive, after the termination of his employment
hereunder, has any question regarding the applicability of the above provisions
to a potential employment opportunity, the Executive acknowledges that it is

                                      -14-

<PAGE>   15
his responsibility to contact the Company so that the Company may inform the
Executive of its position with respect to such opportunity. Notwithstanding
anything herein to the contrary, from and after such time as the Executive is no
longer employed by the Company for any reason, he may become involved in the
operation or management of the Auditorium Garage located at 525 South Wabash in
Chicago, Illinois. Notwithstanding anything herein to the contrary, the
Executive at any time may own an equity interest in Auditorium Garage, Inc.,
which owns the Auditorium Garage.

         (e)      Remedies. The Executive acknowledges that the Parking
Companies would be irreparably injured by a violation of the covenants of this
Section 6 and agrees that the Company, or any one or more of the Parking
Companies, in addition to any other remedies available to it or them for such
breach or threatened breach, shall be entitled to a preliminary injunction,
temporary restraining order, or other equivalent relief, restraining the
Executive from any actual or threatened breach of any of the provisions of this
Section 6. If a bond is required to be posted in order for the Company or any
one or more of the Parking Companies to secure an injunction or other equitable
remedy, the parties agree that said bond need not exceed a nominal sum. This
Section shall be applicable regardless of the reason for the Executive's
termination of employment, and independent of any alleged action or alleged
breach of any provision hereby by the Company. If at any time any of the
provisions of this Section 6 shall be determined to be invalid or unenforceable
by reason of being vague or unreasonable as to duration, area, scope of activity
or otherwise, then this Section 6 shall be considered divisible (with the other
provisions to remain in full force and effect) and the invalid or unenforceable
provisions shall become and be deemed to be immediately amended to include only
such time, area, scope of activity and other restrictions, as shall be
determined to be reasonable and enforceable by the court or other body having
jurisdiction over the matter, and the Executive

                                      -15-

<PAGE>   16

expressly agrees that this Agreement, as so amended, shall be valid and binding
as though any invalid or unenforceable provision had not been included herein.

         7.       Successors. (a) This Agreement is personal to the Executive
and, without the prior written consent of the Company, shall not be assignable
by the Executive otherwise than by will or the laws of descent and distribution.
This Agreement shall inure to the benefit of and be enforceable by the
Executive's legal representatives.

         (b)      This Agreement shall inure to the benefit of and be binding
upon the Company and its successors and assigns.

         (c)      The Company shall require any successor (whether direct or
indirect, by purchase, merger, consolidation or otherwise) to all or
substantially all of the business and/or assets of the Company expressly to
assume and agree to perform this Agreement in the same manner and to the same
extent that the Company would have been required to perform it if no such
succession had taken place. As used in this Agreement, "Company" shall mean both
the Company as defined above and any such successor that assumes and agrees to
perform this Agreement, by operation of law or otherwise.

         8.       Miscellaneous. (a) This Agreement shall be governed by, and
construed in accordance with, the laws of the State of Illinois without
reference to principles of conflict of laws. The captions of this Agreement are
not part of the provisions hereof and shall have no force or effect. This
Agreement may not be amended or modified except by a written agreement executed
by the parties hereto or their respective successors and legal representatives.

                                      -16-

<PAGE>   17

         (b)      All notices and other communications under this Agreement
shall be in writing and shall be given by hand delivery to the other party or by
registered or certified mail, return receipt requested, postage prepaid,
addressed as follows:

                  If to the Executive:

                  Steven A. Warshauer

                  962 Chaucer Lane
                  Highland Park, Illinois 60035

                  If to the Company:

                  Standard Parking, L.P.
                  200 East Randolph Street
                  Suite 4800
                  Chicago, Illinois 60601
                  Attention: Chief Executive Officer

                  with a copy to:

                  Holberg Industries, Inc.
                  545 Steamboat Road
                  Greenwich, Connecticut 06830
                  Attention: Chief Financial Officer

or to such other address as either party furnishes to the other in writing in
accordance with this paragraph (b) of Section 8. Notices and communications
shall be effective when actually received by the addressee.

         (c)      The invalidity or unenforceability of any provision of this
Agreement shall not affect the validity or enforceability of any other provision
of this Agreement. If any provision of this Agreement shall be held invalid or
unenforceable in part, the remaining portion of such provision, together with
all other provisions of this Agreement, shall remain valid and enforceable and
continue in full force and effect to the fullest extent consistent with law.

                                      -17-

<PAGE>   18

         (d)      Notwithstanding any other provision of this Agreement, the
Company may withhold from amounts payable under this Agreement all federal,
state, local and foreign taxes that are required to be withheld by applicable
laws or regulations.

         (e)      The Executive's or the Company's failure to insist upon strict
compliance with any provision of, or to assert any right under, this Agreement
shall not be deemed to be a waiver of such provision or right or of any other
provision of or right under this Agreement.

         (f)      The Executive and the Company acknowledge that this Agreement
supersedes any other agreement, whether written or oral, between them concerning
the subject matter hereof, including, but not limited to, any written or oral
employment agreement between the Company and the Executive.

         (g)      This Agreement may be executed in several counterparts, each
of which shall be deemed an original, and said counterparts shall constitute but
one and the same instrument.

                                      -18-

<PAGE>   19

         IN WITNESS WHEREOF, the Executive has hereunto set the Executive's hand
and, pursuant to the authorization of its general partner, the Company has
caused this Agreement to be executed in its name on its behalf, all as of the
day and year first above written.

                                        /S/ Steven A. Warshauer
                                        ------------------------------------
                                        STEVEN A. WARSHAUER

                                        STANDARD PARKING, L.P.

                                        By: Standard Parking Corporation
                                        Its: General Partner

                                        By:/s/ Myron C. Warshauer
                                           ---------------------------------
                                        Its:President
                                            --------------------------------

                                      -19-

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