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                                                                   EXHIBIT 10.30

                    AMENDED AND RESTATED EMPLOYMENT AGREEMENT

     THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this "AGREEMENT"), dated as
of October 1, 2001 (the "EFFECTIVE DATE"), is by and between APCOA/Standard
Parking, Inc., a Delaware corporation (the "COMPANY"), and G. Marc Baumann (the
"EXECUTIVE") and is an amendment and restatement of that certain Employment
Agreement previously executed by and between the Executive and the Company as of
the 9th day of October, 2000 (the "PRIOR AGREEMENT").

     WHEREAS, 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 and Canada (the Company and its subsidiaries and affiliates
and other Company 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, prior to the date hereof, the Executive has been employed by the
Company pursuant to the terms of the Prior Agreement; and

     WHEREAS, the Company and Executive desire to amend, revise and restate the
Prior Agreement.

     NOW, THEREFORE, IT IS HEREBY AGREED AS FOLLOWS:

     1. EMPLOYMENT PERIOD. The Company shall continue to employ the Executive,
and the Executive shall continue to serve the Company, on the terms and
conditions set forth in this Agreement, for the period beginning on the
Effective Date and ending on the second anniversary thereof (the "EMPLOYMENT
PERIOD"), provided, however, that commencing on the date one year after the
Effective Date and on each annual anniversary of such date (each

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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 the Executive Vice President and Chief Financial Officer of the
Company, with the duties and responsibilities currently associated with such
position. The Executive shall report directly to the Chief Executive Officer of
the Company. 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. 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 $254,500,
payable in accordance with the normal payroll practices for executives of the
Company as in effect from

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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 equal to thirty-five
percent (35%) the Annual Base Salary. Notwithstanding the foregoing, the
Executive's Annual Bonus attributable to the period commencing January 1, 2001
and ending December 31, 2001 shall be guaranteed to be no less than thirty-five
percent (35%) of the Executive's Annual Base Salary as in effect for such
period. The Executive's Annual Bonus for 2002 and subsequent calendar years
shall be based upon the achievement of the applicable established performance
targets.

        (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) HOUSING DIFFERENTIAL LOAN. Following the Effective Date and
contingent upon the Executive's execution of a promissory note (substantially in
the form attached hereto as Exhibit A), the Executive shall receive a $200,000
loan from the Company with a repayment period ending on May 1, 2005 (the
"LOAN"), which shall bear interest at the Applicable Federal Rate compounded
annually. The principal on the Loan shall be payable in cash on an annual basis
in four equal installments, together with interest on each such installment,
beginning on May 1, 2002 and on each of the next three succeeding

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anniversaries thereof (each such payment date to be referred to herein as an
"ANNUAL PAYMENT DATE"). The foregoing notwithstanding, if the Executive remains
in the continued employment of the Company as of each Annual Payment Date, one
fourth of the principal balance of the Loan and the accrued interest thereon (as
of such Annual Payment Date) shall be forgiven by the Company and such forgiven
amount shall be treated as additional compensation to the Executive in the year
of such forgiveness. In the event the Executive's employment hereunder is
terminated for "Cause" (as hereinafter defined) or the Executive terminates his
employment without Good Reason (as hereinafter defined), the Executive shall be
obligated to repay the remaining principal balance of the Loan and any accrued
and unpaid interest thereon in accordance with the terms of the Loan as
described above; provided, however, that if the Date of Termination does not
coincide with an Annual Payment Date, the repayment of the principal balance of
the Loan and the accrued interest thereon for the year of termination shall be
pro-rated in respect of the portion of such short year that commences on the
date of the Date of Termination and ends on the next following Annual Payment
Date, and the portion of the pro-rated principal balance of the Loan and the
interest thereon with respect to the period commencing on the Annual Payment
Date prior to the Date of Termination and ending on the Date of Termination
shall be forgiven. In the event that the Executive's employment hereunder is
terminated for any other reason by the Company without Cause, including a
termination on account of death or Disability, or in the event the Executive
terminates his employment with Good Reason the remaining principal balance and
any accrued and unpaid interest shall be forgiven.

        (e) PAYMENT OF INSURANCE PREMIUM. In addition to the insurance benefits
described in subparagraph 3(f) below, during the Employment Period the Company
agrees to pay the annual premium on an insurance policy or policies on the life
of the Executive, which

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policy or policies will provide an annual cash benefit to the Executive of at
least $100,000 per annum as appropriately adjusted to reflect increases in the
applicable Consumer Price Index, for a period of fifteen years beginning in the
year in which the Executive attains age sixty-five (65) (any one ore more of
such policies to be referred to herein as the "POLICY"). The Policy shall be
owned by and entered into in the name of the Executive, and the Company shall
have no right to any proceeds from or any other ownership interest in the
Policy. The Company further agrees that in the event of a termination of the
Executive's employment for any reason other than Cause or the Executive's
voluntary termination of employment without Good Reason, it shall continue to
pay the annual premium on the Policy until the earlier of (i) the Executive's
death or (ii) the date the Executive attains age sixty-five (65).

        (f) 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, 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; (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; (iv) the Executive shall be entitled to a car
allowance of $500 per month; and (v) the Company shall provide the Executive
with life insurance benefits above its standard benefit package in an amount
equal to $1,000,000 until the Executive attains age 75.

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        (g) EXPENSES. 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 DISABILITY. 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 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

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            (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:

            (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

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        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 that would have been provided to them under clause (f)(iii) 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

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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) 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 4(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:

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                (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 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.

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            (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) 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.

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            (f) For purposes of this Agreement, the term "CHANGE IN CONTROL"
shall have the meaning ascribed to it in the Company's subordinated note
indenture, as may be amended, or any change of control or similar provision in
any other subordinated debt of the Company as may hereafter be in effect.

            (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 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

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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").

        (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

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            (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.

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

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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) 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

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        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 the Parking Companies 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 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 his responsibility to contact the Company so that the
Company may inform the Executive of its position with respect to such
opportunity.

        (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

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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
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

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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.

        (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:

            G. Marc Baumann
            2643 Oak Avenue
            Northbrook, Illinois 60062

            IF TO THE COMPANY:

            APCOA/Standard Parking, Inc.
            900 North Michigan Avenue
            Chicago, Illinois 60611
            Attention: Robert N. Sacks,
                       Executive Vice President and General Counsel

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

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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.

        (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, the Prior Agreement.

        (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.

                                       19
<Page>

     IN WITNESS WHEREOF, the Executive has hereunto set the Executive's hand and
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.

                                        ----------------------------------------
                                        G. MARC BAUMANN

                                        APOCA/STANDARD PARKING, INC.

                                        By:
                                           -------------------------------------
                                        Its:
                                            ------------------------------------

                                       20<Page>
                                                                   Exhibit 10.31

                          APCOA/STANDARD PARKING, INC.

                             2001 STOCK OPTION PLAN
                             ----------------------

     1. PURPOSES. The purposes of the APCOA/Standard Parking, Inc. 2001 Stock
Option Plan are:

        (a) To further the growth, development and success of the Company and
its Affiliates by enabling the executive and other employees and directors of,
and/or consultants to, the Company and its Affiliates to acquire a continuing
equity interest in the Company, thereby increasing their personal interests in
such growth, development and success and motivating such executives, employees,
directors and/or consultants to exert their best efforts on behalf of the
Company and its Affiliates; and

        (b) To maintain the ability of the Company and its Affiliates to attract
and retain executives, employees, directors and/or consultants of outstanding
ability by offering them an opportunity to acquire a continuing equity interest
in the Company and its Affiliates which will reflect the growth, development and
success of the Company and its Affiliates.

Toward these objectives, the Committee may grant Options to such executives,
employees, directors and/or consultants, all pursuant to the terms and
conditions of the Plan.

     2. ADMINISTRATION OF THE PLAN. (a) The Committee shall have exclusive
authority to operate, manage and administer the Plan in accordance with its
terms and conditions. Notwithstanding the foregoing, in its absolute discretion,
the Board may at any time and from time to time exercise any and all rights,
duties and responsibilities of the Committee under the Plan, including, but not
limited to, establishing procedures to be followed by the Committee, except with
respect to matters which under any applicable law, regulation or rule, are
required to be determined in the sole discretion of the Committee. If and to the
extent that no Committee exists which has the authority to administer the Plan,
the functions of the Committee shall be exercised by the Board.

        (b) The Committee shall be appointed from time to time by the Board. A
Committee member may be removed by the Board at any time either with or without
cause, and any such member may resign at any time by delivering notice thereof
to the Board. Any vacancy on the Committee, whether due to action of the Board
or any other reason, shall be filled by the Board.

        (c) The Committee shall have full authority to grant, pursuant to the
terms of the Plan, Options to those individuals who are eligible to receive
Options under the Plan. In particular, the Committee shall have discretionary
authority, in accordance with the terms of the Plan, to: determine eligibility
for participation in the Plan; select, from time to time, from among those
eligible, the executives, employees, directors and/or consultants to whom
Options shall be

<Page>

granted under the Plan, which selection may be based upon information furnished
to the Committee by the Company's or an Affiliate's management; determine
whether an Option shall take the form of an ISO or an Option other than an ISO;
determine the number of shares of Stock to be included in any Option and the
periods for which Options will be outstanding; establish and administer any
terms, conditions, performance criteria, restrictions, limitations, forfeiture,
vesting or exercise schedule, and other provisions of or relating to any Option;
grant waivers of terms, conditions, restrictions and limitations under the Plan
or applicable to any Option, or accelerate the vesting or exercisability of any
Option; amend or adjust the terms and conditions of any outstanding Option
and/or adjust the number and/or class of shares of Stock subject to any
outstanding Option; at any time and from time to time after the granting of an
Option, specify such additional terms, conditions and restrictions with respect
to any such Option as may be deemed necessary or appropriate to ensure
compliance with any and all applicable laws or rules, including, but not limited
to, terms, restrictions and conditions for compliance with applicable securities
laws, regarding an Optionee's exercise of Options by tendering shares of Stock
or under any "cashless exercise" program established by the Committee, and
methods of withholding or providing for the payment of required taxes; offer to
buy out an Option previously granted, based on such terms and conditions as the
Committee shall establish with and communicate to the Optionee at the time such
offer is made; and, to the extent permitted under the applicable Agreement,
permit the transfer of an Option or the exercise of an Option by one other than
the Optionee who received the grant of such Option (other than any such transfer
or exercise which would cause any ISO to fail to qualify as an "incentive stock
option" under Section 422 of the Code).

        (d) The Committee shall have all authority that may be necessary or
helpful to enable it to discharge its responsibilities with respect to the Plan.
Without limiting the generality of the foregoing sentence or Section 2(a), and
in addition to the powers otherwise expressly designated to the Committee in the
Plan, the Committee shall have the exclusive right and discretionary authority
to interpret the Plan and the Agreements; construe any ambiguous provision of
the Plan and/or the Agreements and decide all questions concerning eligibility
for and the amount of Options granted under the Plan. The Committee may
establish, amend, waive and/or rescind rules and regulations and administrative
guidelines for carrying out the Plan and may correct any errors, supply any
omissions or reconcile any inconsistencies in the Plan and/or any Agreement or
any other instrument relating to any Options. The Committee shall have the
authority to adopt such procedures and subplans and grant Options on such terms
and conditions as the Committee determines necessary or appropriate to permit
participation in the Plan by individuals otherwise eligible to so participate
who are foreign nationals or employed outside of the United States, or otherwise
to conform to applicable requirements or practices of jurisdictions outside of
the United States; and take any and all such other actions it deems necessary or
advisable for the proper operation and/or administration of the Plan. The
Committee shall have full discretionary authority in all matters related to the
discharge of its responsibilities and the exercise of its authority under the
Plan. Decisions and actions by the Committee with respect to the Plan and any
Agreement shall be final, conclusive and binding on all persons having or
claiming to have any right or interest in or under the Plan and/or any
Agreement.

        (e) Each Option shall be evidenced by an Agreement, which shall be
executed by the Company and the Optionee to whom such Option has been granted,
unless the Agreement

                                       -2-
<Page>

provides otherwise; two or more Options granted to a single Optionee may,
however, be combined in a single Agreement. An Agreement shall not be a
precondition to the granting of an Option; no person shall have any rights under
any Option, however, unless and until the Optionee to whom the Option shall have
been granted (i) shall have executed and delivered to the Company an Agreement
or other instrument evidencing the Option, unless such Agreement provides
otherwise, and (ii) has otherwise complied with the applicable terms and
conditions of the Option. The Committee shall prescribe the form of all
Agreements, and, subject to the terms and conditions of the Plan, shall
determine the content of all Agreements. Any Agreement may be supplemented or
amended in writing from time to time as approved by the Committee; PROVIDED that
the terms and conditions of any such Agreement as supplemented or amended are
not inconsistent with the provisions of the Plan.

        (f) A majority of the members of the entire Committee shall constitute a
quorum and the actions of a majority of the members of the Committee in
attendance at a meeting at which a quorum is present, or actions by a written
instrument signed by all members of the Committee, shall be the actions of the
Committee.

        (g) The Committee may consult with counsel who may be counsel to the
Company. The Committee may, with the approval of the Board, employ such other
attorneys and/or consultants, accountants, appraisers, brokers and other persons
as it deems necessary or appropriate. In accordance with Section 11, the
Committee shall not incur any liability for any action taken in good faith in
reliance upon the advice of such counsel or other persons.

        (h) In serving on the Committee, the members thereof shall be entitled
to indemnification as directors of the Company, and to any limitation of
liability and reimbursement as directors with respect to their services as
members of the Committee.

     3. SHARES OF STOCK SUBJECT TO THE PLAN. (a) The shares of stock subject to
Options granted under the Plan shall be shares of Stock. Such shares of Stock
subject to the Plan may be either authorized and unissued shares (which will not
be subject to preemptive rights) or previously issued shares acquired by the
Company or any Subsidiary. The total number of shares of Stock that may be
delivered pursuant to Options granted under the Plan is 1,000 shares.

        (b) Notwithstanding any of the foregoing limitations set forth in this
Section 3, the number of shares of Stock specified in this Section 3 shall be
adjusted as provided in Section 9.

        (c) Any shares of Stock subject to an Option which for any reason
expires or is terminated or forfeited without having been fully exercised may
again be granted pursuant to an Option under the Plan, subject to the
limitations of this Section 3.

        (d) If the option exercise price of an Option granted under the Plan is
paid by tendering to the Company shares of Stock already owned by the holder of
such option (or such holder and his or her spouse jointly), only the number of
shares of Stock issued net of the shares of Stock so tendered shall be deemed
delivered for purposes of determining the total number of shares of Stock that
may be delivered under the Plan.

                                       -3-
<Page>

        (e) Any shares of Stock delivered under the Plan in assumption or
substitution of outstanding stock options, or obligations to grant future stock
options, under plans or arrangements of an entity other than the Company or an
Affiliate in connection with the Company or an Affiliate acquiring such another
entity, or an interest in such an entity, or a transaction otherwise described
in Section 5(j), shall not reduce the maximum number of shares of Stock
available for delivery under the Plan; PROVIDED, HOWEVER, that the maximum
number of shares of Stock that may be delivered pursuant to Incentive Stock
Options granted under the Plan shall be the number of shares set forth in
paragraph (a) of this Section 3, as adjusted pursuant to paragraphs (b) and (c)
of this Section 3.

     4. ELIGIBILITY. Executive employees and other employees, including
officers, of the Company and the Affiliates, directors (whether or not also
employees) and/or consultants of the Company and the Affiliates, shall be
eligible to become Optionees and receive Options in accordance with the terms
and conditions of the Plan, subject to the limitations on the granting of ISOs
set forth in Section 5(h).

     5. TERMS AND CONDITIONS OF STOCK OPTIONS. All Options to purchase Stock
granted under the Plan shall be either ISOs or Options other than ISOs. To the
extent that any Option does not qualify as an ISO (whether because of its
provisions or the time or manner of its exercise or otherwise), such Option, or
the portion thereof which does not so qualify, shall constitute a separate
Option other than an ISO. Each Option shall be subject to all the applicable
provisions of the Plan, including the following terms and conditions, and to
such other terms and conditions not inconsistent therewith as the Committee
shall determine and which are set forth in the applicable Agreement. Options
need not be uniform as to all grants and recipients thereof.

        (a) The option exercise price per share of shares of Stock subject to
each Option shall be determined by the Committee and stated in the Agreement;
PROVIDED, HOWEVER, that, subject to paragraph (h)(iii) and/or (j) of this
Section 5, if applicable, such option exercise price applicable to any Incentive
Stock Option shall not be less than one hundred percent (100%) of the Fair
Market Value of a share of Stock at the time that the ISO is granted.

        (b) Each Option shall be exercisable in whole or in such installments,
at such times and under such conditions, as may be determined by the Committee
in its discretion in accordance with the Plan and stated in the Agreement, and,
in any event, over a period of time ending not later than ten (10) years from
the date such Option was granted, subject to paragraph (h)(C) of this Section 5.

        (c) An Option shall not be exercisable with respect to a fractional
share of Stock and no fractional shares of Stock shall be issued upon the
exercise of an Option. In addition, an Option must be exercised in whole for the
full number of shares of Stock provided under the Option; PROVIDED, HOWEVER,
that in the event of an IPO, an Option may be exercisable with respect to the
lesser of the number of shares designated by the Board at the time of such IPO
or the full number of shares of Stock then subject to the Option.

                                       -4-
<Page>

        (d) Each Option may be exercised by giving Notice to the Company
specifying the number of shares of Stock to be purchased, which shall be
accompanied by payment in full including applicable taxes, if any, in accordance
with Section 8. Payment shall be in any manner permitted by applicable law and
prescribed by the Committee, in its discretion, and set forth in the Agreement.

        (e) No Optionee or other person shall become the beneficial owner of any
shares of Stock subject to an Option, nor have any rights to dividends or other
rights of a shareholder with respect to any such shares until he or she has
exercised his or her Option in accordance with the provisions of the Plan and
the applicable Agreement.

        (f) An Option may be exercised only if at all times during the period
beginning with the date of the granting of the Option and ending on the date of
such exercise, the Optionee was an executive, employee, director or consultant
of the Company or an Affiliate, as applicable. Notwithstanding the preceding
sentence, the Committee may determine in its discretion that an Option may be
exercised prior to expiration of such Option following termination of such
continuous employment, directorship or consultancy, whether or not exercisable
at the time of such termination, to the extent provided in the applicable
Agreement.

        (g) Subject to the terms and conditions and within the limitations of
the Plan, the Committee may modify, extend or renew outstanding Options granted
under the Plan, or accept the surrender of outstanding Options (up to the extent
not theretofore exercised) and authorize the granting of new Options in
substitution therefor (to the extent not theretofore exercised).

        (h) (i) Each Agreement relating to an Option shall state whether such
Option will or will not be treated as an ISO. No ISO shall be granted unless
such Option, when granted, qualifies as an "incentive stock option" under
Section 422 of the Code. No ISO shall be granted to any individual otherwise
eligible to participate in the Plan who is not an employee of the Company or a
Subsidiary on the date of granting of such Option. Any ISO granted under the
Plan shall contain such terms and conditions, consistent with the Plan, as the
Committee may determine to be necessary to qualify such Option as an "incentive
stock option" under Section 422 of the Code. Any ISO granted under the Plan may
be modified by the Committee to disqualify such Option from treatment as an
"incentive stock option" under Section 422 of the Code.

            (ii) Notwithstanding any intent to grant ISOs, an Option granted
        under the Plan will not be considered an ISO to the extent that it,
        together with any other "incentive stock options" (within the meaning of
        Section 422 of the Code, but without regard to subsection (d) of such
        Section) under the Plan and any other "incentive stock option" plans of
        the Company, any Subsidiary and any "parent corporation" of the Company
        within the meaning of Section 424(e) of the Code, are exercisable for
        the first time by any Optionee during any calendar year with respect to
        Stock having an aggregate Fair Market Value in excess of $100,000 (or
        such other limit as may be required by the Code) as of the time the
        Option with

                                       -5-
<Page>

        respect to such Stock is granted. The rule set forth in the preceding
        sentence shall be applied by taking Options into account in the order in
        which they were granted.

            (iii) No ISO shall be granted to an individual otherwise eligible to
        participate in the Plan who owns (within the meaning of Section 424(d)
        of the Code), at the time the Option is granted, more than ten percent
        (10%) of the total combined voting power of all classes of stock of the
        Company or a Subsidiary or any "parent corporation" of the Company
        within the meaning of Section 424(e) of the Code. This restriction does
        not apply if at the time such ISO is granted the Option exercise price
        per share of Stock subject to the Option is at least 110% of the Fair
        Market Value of a share of Stock on the date such ISO is granted, and
        the ISO by its terms is not exercisable after the expiration of five
        years from such date of grant.

        (i) An Option and any shares of Stock received upon the exercise of an
Option shall be subject to such other transfer and/or ownership restrictions
and/or legending requirements as the Committee may establish in its discretion
and which are specified in the Agreement and may be referred to on the
certificates evidencing such shares of Stock. The Committee may require an
Optionee to give prompt Notice to the Company concerning any disposition of
shares of Stock received upon the exercise of an ISO within: (i) two (2) years
from the date of granting such ISO to such Optionee or (ii) one (1) year from
the transfer of such shares of Stock to such Optionee or (iii) such other period
as the Committee may from time to time determine. The Committee may direct that
an Optionee with respect to an ISO undertake in the applicable Agreement to give
such Notice described in the preceding sentence, at such time and containing
such information as the Committee may prescribe, and/or that the certificates
evidencing shares of Stock acquired by exercise of an ISO refer to such
requirement to give such Notice.

        (j) In the event that a transaction described in Section 424(a) of the
Code involving the Company or a Subsidiary is consummated, such as the
acquisition of property or stock from an unrelated corporation, individuals who
become eligible to participate in the Plan in connection with such transaction,
as determined by the Committee, may be granted Options in substitution for
options granted by another corporation that is a party to such transaction. If
such substitute Options are granted, the Committee, in its discretion and
consistent with Section 424(a) of the Code, if applicable, and the terms of the
Plan, though notwithstanding paragraph (a) of this Section 5, shall determine
the option exercise price and other terms and conditions of such substitute
Options.

     6. TRANSFER, LEAVE OF ABSENCE. A transfer of an employee from the Company
to an Affiliate (or, for purposes of any ISO granted under the Plan, a
Subsidiary), or vice versa, or from one Affiliate to another (or in the case of
an ISO, from one Subsidiary to another), and a leave of absence, duly authorized
in writing by the Company or a Subsidiary or Affiliate, shall not be deemed a
termination of employment of the employee for purposes of the Plan or with
respect to any Option (in the case of ISOs, to the extent permitted by the
Code).

                                       -6-
<Page>

     7. RIGHTS OF EMPLOYEES AND OTHER PERSONS. (a) No person shall have any
rights or claims under the Plan except in accordance with the provisions of the
Plan and the applicable Agreement.

        (b) Nothing contained in the Plan or in any Agreement shall be deemed to
(i) give any employee or director the right to be retained in the service of the
Company or any Affiliate nor restrict in any way the right of the Company or any
Affiliate to terminate any employee's employment or any director's directorship
at any time with or without cause or (ii) confer on any consultant any right of
continued relationship with the Company or any Affiliate, or alter any
relationship between them, including any right of the Company or an Affiliate to
terminate its relationship with such consultant.

        (c) The adoption of the Plan shall not be deemed to give any employee of
the Company or any Affiliate or any other person any right to be selected to
participate in the Plan or to be granted an Option.

        (d) Nothing contained in the Plan or in any Agreement shall be deemed to
give any employee the right to receive any bonus, whether payable in cash or in
Stock, or in any combination thereof, from the Company or any Affiliate, nor be
construed as limiting in any way the right of the Company or any Affiliate to
determine, in its sole discretion, whether or not it shall pay any employee
bonuses, and, if so paid, the amount thereof and the manner of such payment.

     8. TAX WITHHOLDING OBLIGATIONS. (a) The Company and/or any Affiliate are
authorized to take whatever actions are necessary and proper to satisfy all
obligations of Optionees (including, for purposes of this Section 8, any other
person entitled to exercise an Option pursuant to the Plan or an Agreement) for
the payment of all Federal, state, local and foreign taxes in connection with
any Options (including, but not limited to, actions pursuant to the following
paragraph (b) of this Section 8).

        (b) Each Optionee shall (and in no event shall Stock be delivered to
such Optionee with respect to an Option until), no later than the date as of
which the value of the Option first becomes includible in the gross income of
the Optionee for income tax purposes, pay to the Company in cash, or make
arrangements satisfactory to the Company, as determined in the Committee's
discretion, regarding payment to the Company of, any taxes of any kind required
by law to be withheld with respect to the Stock or other property subject to
such Option, and the Company and any Affiliate shall, to the extent permitted by
law, have the right to deduct any such taxes from any payment of any kind
otherwise due to such Optionee.

     9. CHANGES IN CAPITAL. (a) The existence of the Plan and any Options
granted hereunder shall not affect in any way the right or power of the Board or
the stockholders of the Company to make or authorize any adjustment,
recapitalization, reorganization or other change in the Company's capital
structure or its business, any merger or consolidation of the Company or an
Affiliate, any issue of debt, preferred or prior preference stock ahead of or
affecting Stock, the authorization or issuance of additional shares of Stock,
the dissolution or liquidation of the

                                       -7-
<Page>

Company or its Affiliates, any sale or transfer of all or part of its assets or
business or any other corporate act or proceeding.

        (b) (i) Upon changes in the outstanding Stock by reason of a stock
dividend, stock split, reverse stock split, subdivision, recapitalization,
reclassification, merger, consolidation (whether or not the Company is a
surviving corporation), combination or exchange of shares of Stock, separation,
or reorganization, or in the event of an extraordinary dividend, "spin-off,"
liquidation, other substantial distribution of assets of the Company or
acquisition of property or stock or other change in capital of the Company, or
the issuance by the Company of shares of its capital stock without receipt of
full consideration therefor, or rights or securities exercisable, convertible or
exchangeable for shares of such capital stock, or any similar change affecting
the Company's capital structure, the aggregate number, class and kind of shares
of stock available under the Plan as to which Options may be granted, the
number, class and kind of shares under each outstanding Option and the exercise
price per share applicable to any such Options shall be appropriately adjusted
by the Committee in its discretion to preserve the benefits or potential
benefits intended to be made available under the Plan or with respect to any
outstanding Options or otherwise necessary to reflect any such change.

            (ii) Fractional shares of Stock resulting from any adjustment in
        Options pursuant to Section 9(b)(i) shall be aggregated until, and
        eliminated at, the time of exercise of the affected Options. Notice of
        any adjustment shall be given by the Committee to each Optionee whose
        Option has been adjusted and such adjustment (whether or not such Notice
        is given) shall be effective and binding for all purposes of the Plan.

        (c) (i) Immediately prior to the earlier of (A) a Change in Control, (B)
an Initial Public Offering, (C) an "Option Redemption" (as described in the
Certificate of Designations), or (D) March 15, 2008, all outstanding Options
shall automatically be accelerated and become immediately exercisable, as to all
of the shares of Stock covered thereby, notwithstanding anything to the contrary
in the Plan or the Agreement.

            (ii) In the event of any "Optional Redemption" or a "Change in
        Control Redemption" (as each such term is defined in Section 5 of the
        Certificate of Designations), the Optionee will automatically be treated
        as having exercised his or her Option, the Company's or the Optionee's
        election to exercise their rights of redemption, as applicable, shall
        extend to the Stock underlying such Option, and the Option shall be
        canceled immediately following such event. In such event, the Optionee
        shall not be required to make a payment to the Company with respect to
        the deemed exercise of such Option. Rather, such Optionee shall
        automatically receive a cash distribution (net of any applicable
        withholding obligations pursuant to Section 8) equal to the product of
        the number of shares underlying the Option multiplied by the difference
        between the per share redemption price paid by the Company in connection
        with such redemption and the exercise price provided for under the
        Option. Notwithstanding the foregoing, in the event of a Change in
        Control Redemption where the redemption price is not paid in cash, the
        Optionee will not automatically be treated as having exercised his or
        her Option, but such Option shall be exercisable and shall otherwise
        continue in accordance with its terms.

                                       -8-
<Page>

            (iii) In the event of an IPO, each share of Stock underlying the
        Options granted hereunder shall be converted into the number of shares
        of common stock of the Company equal to the quotient of the
        then-effective "Redemption Price" (as such term is defined in the
        Certificate of Designations) divided by the price per share at which
        shares of the Company's common stock are offered in the IPO. The
        exercise price for each share of common stock under the converted option
        shall be equal to the product of the exercise price under the Option
        prior to the conversion multiplied by the quotient of the price per
        share at which shares of the Company's common stock are offered in the
        IPO divided by the then-effective Redemption Price.

            (iv) In addition to the foregoing, in the event of any other
        redemption in cash of all of the then outstanding Stock at the election
        of the Company, the terms of which are not covered by the Certificate of
        Designations, (A) the Option shall automatically be accelerated and
        become immediately exercisable, as to all of the shares of Stock covered
        thereby, and (B) the Company shall give the Optionee reasonable advance
        notice of its intent to redeem the Stock, the details relating to the
        terms of such redemption and an opportunity for the Optionee to exercise
        his Option and participate in the redemption on the same terms as
        applicable to the other shareholders whose Stock is being redeemed
        pursuant to such redemption. In the event that the Optionee does not
        exercise his or her Option pursuant to such redemption, such Option
        shall otherwise continue in accordance with its terms, but shall not be
        exercisable until a subsequent exercise triggering event described in
        this Section 9(c).

            (v) In its discretion, and on such terms and conditions as it deems
        appropriate, the Committee may provide, either by the terms of the
        Agreement applicable to any Option or by resolution adopted prior to the
        occurrence of a Change in Control, that any outstanding Option shall be
        adjusted by substituting for each share of Stock subject to such Option
        stock or other securities of the surviving corporation or any successor
        corporation to the Company, or a parent or subsidiary thereof, or that
        may be issuable by another corporation that is a party to the
        transaction resulting in the Change in Control, whether or not such
        stock or other securities are publicly traded, in which event, the
        aggregate exercise price of the Option shall remain the same and the
        amount of shares or other securities subject to the Option shall be the
        amount of shares or other securities which could have been purchased on
        the closing date or expiration date of such transaction with the
        proceeds which would have been received by the Optionee if the Option
        had been exercised in full (or with respect to a portion of such Option,
        as determined by the Committee, in its discretion) prior to such
        transaction or expiration date and the Optionee exchanged all of such
        shares in the Change in Control transaction.

            (vi) Upon the exercise of an Option pursuant to this Section 9(c),
        the Optionee shall receive a cash (or, in the case of an IPO described
        under Section 9(c)(iii), stock) payment equal to the cash value of all
        of the dividends (as provided under Section 3 of the Certificate of
        Designations) that would have been paid with respect to the shares of
        Stock received upon exercise of the Option as if the Optionee actually
        owned such Stock from the date of grant through the date of such
        exercise.

                                      -9-
<Page>

Notwithstanding the foregoing, in no event may any Option be exercised after ten
(10) years from the date it was originally granted.

     10. MISCELLANEOUS PROVISIONS. (a) The Plan shall be unfunded. The Company
shall not be required to establish any special or separate fund or to make any
other segregation of assets to assure the issuance of shares of Stock or the
payment of cash upon exercise or payment of any Option. Proceeds from the sale
of shares of Stock pursuant to Options granted under the Plan shall constitute
general funds of the Company.

        (b) Except as otherwise provided in this paragraph (b) of Section 10 or
by the Committee, an Option by its terms shall be personal and may not be sold,
transferred, pledged, assigned, encumbered or otherwise alienated or
hypothecated otherwise than by will or by the laws of descent and distribution
and shall be exercisable during the lifetime of an Optionee only by him or her.
An Agreement may permit the exercise or payment of an Optionee's Option (or any
portion thereof) after his or her death by or to the beneficiary most recently
named by such Optionee in a written designation thereof filed with the Company,
or, in lieu of any such surviving beneficiary, as designated by the Optionee by
will or by the laws of descent and distribution. In the event any Option is
exercised by the executors, administrators, heirs or distributees of the estate
of a deceased Optionee, or such an Optionee's beneficiary, or the transferee of
an Option, in any such case pursuant to the terms and conditions of the Plan and
the applicable Agreement and in accordance with such terms and conditions as may
be specified from time to time by the Committee, the Company shall be under no
obligation to issue Stock thereunder unless and until the Committee is satisfied
that the person or persons exercising such Option is the duly appointed legal
representative of the deceased Optionee's estate or the proper legatee or
distributee thereof or the named beneficiary of such Optionee, or the valid
transferee of such Option, as applicable.

        (c) (i) If at any time the Committee shall determine, in its discretion,
that the listing, registration and/or qualification of shares of Stock upon any
securities exchange or under any state or Federal or foreign law, or the consent
or approval of any governmental regulatory body, is necessary or desirable as a
condition of, or in connection with, the sale or purchase of shares of Stock
hereunder, no Option may be granted, exercised or paid in whole or in part
unless and until such listing, registration, qualification, consent and/or
approval shall have been effected or obtained, or otherwise provided for, free
of any conditions not acceptable to the Committee.

            (ii) If at any time counsel to the Company shall be of the opinion
        that any sale or delivery of shares of Stock pursuant to an Option is or
        may be in the circumstances unlawful or result in the imposition of
        excise taxes on the Company or any Affiliate under the statutes, rules
        or regulations of any applicable jurisdiction, the Company shall have no
        obligation to make such sale or delivery, or to make any application or
        to effect or to maintain any qualification or registration under the
        Securities Act, or otherwise with respect to shares of Stock or Options
        and the right to exercise any Option shall be suspended until, in the
        opinion of such counsel, such sale or delivery shall be lawful or will
        not result in the imposition of excise taxes on the Company or any
        Affiliate.

                                      -10-
<Page>

            (iii) Upon termination of any period of suspension under this
        Section 10(c), any Option affected by such suspension which shall not
        then have expired or terminated shall be reinstated as to all shares
        available before such suspension and as to the shares which would
        otherwise have become available during the period of such suspension,
        but no suspension shall extend the term of any Option.

        (d) The Committee may require each person receiving Stock in connection
with any Option under the Plan to represent and agree with the Company in
writing that such person is acquiring the shares of Stock for investment without
a view to the distribution thereof. The Committee, in its absolute discretion,
may impose such restrictions on the ownership and transferability of the shares
of Stock purchasable or otherwise receivable by any person under any Option as
it deems appropriate. Any such restrictions shall be set forth in the applicable
Agreement, and the certificates evidencing such shares may include any legend
that the Committee deems appropriate to reflect any such restrictions.

        (e) By accepting any benefit under the Plan, each Optionee and each
person claiming under or through such Optionee shall be conclusively deemed to
have indicated their acceptance and ratification of, and consent to, all of the
terms and conditions of the Plan and any action taken under the Plan by the
Committee, the Company or the Board, in any case in accordance with the terms
and conditions of the Plan.

        (f) In the discretion of the Committee, an Optionee may elect
irrevocably (at a time and in a manner determined by the Committee) prior to
exercising an Option that delivery of shares of Stock upon such exercise shall
be deferred until a future date and/or the occurrence of a future event or
events, specified in such election. Upon the exercise of any such Option and
until the delivery of any deferred shares under this paragraph (f) of Section
10, the number of shares otherwise issuable to the Optionee shall be credited to
a memorandum account in the records of the Company or its designee and any
dividends or other distributions payable on such shares shall be deemed
reinvested in additional shares of Stock, in a manner determined by the
Committee, until all shares of Stock credited to such Optionee's memorandum
account shall become issuable pursuant to the Optionee's election.

        (g) The Committee may, in its discretion, extend one or more loans to
Optionees who are directors, key employees or consultants of the Company or an
Affiliate in connection with the exercise or receipt of an Option granted to any
such individual. The terms and conditions of any such loan shall be established
by the Committee.

        (h) Neither the adoption of the Plan nor anything contained herein shall
affect any other compensation or incentive plans or arrangements of the Company
or any Affiliate, or prevent or limit the right of the Company or any Affiliate
to establish any other forms of incentives or compensation for their directors,
employees or consultants or grant or assume options or other rights otherwise
than under the Plan.

        (i) The Plan shall be governed by and construed in accordance with the
laws of the State of Delaware, without regard to such state's conflict of law
provisions, and, in any event, except as superseded by applicable Federal law.

                                      -11-
<Page>

        (j) The words "Section," "subsection" and "paragraph" herein shall refer
to provisions of the Plan, unless expressly indicated otherwise. Wherever any
words are used in the Plan or any Agreement in the masculine gender they shall
be construed as though they were also used in the feminine gender in all cases
where they would so apply, and wherever any words are used herein in the
singular form they shall be construed as though they were also used in the
plural form in all cases where they would so apply.

        (k) The Company shall bear all costs and expenses incurred in
administering the Plan, including expenses of issuing Stock pursuant to any
Options granted hereunder.

     11. LIMITS OF LIABILITY. (a) Any liability of the Company or an Affiliate
to any Optionee with respect to any Option shall be based solely upon
contractual obligations created by the Plan and the Agreement.

        (b) None of the Company, any Affiliate, any member of the Committee or
the Board or any other person participating in any determination of any question
under the Plan, or in the interpretation, administration or application of the
Plan, shall have any liability, in the absence of bad faith, to any party for
any action taken or not taken in connection with the Plan, except as may
expressly be provided by statute.

     12. AMENDMENTS AND TERMINATION. The Board may, at any time and with or
without prior notice, amend, alter, suspend or terminate the Plan, retroactively
or otherwise; PROVIDED, HOWEVER, unless otherwise required by law or
specifically provided herein, no such amendment, alteration, suspension or
termination shall be made which would impair the previously accrued rights of
any holder of an Option theretofore granted without his or her written consent,
or which, without first obtaining approval of the stockholders of the Company
(where such approval is necessary to satisfy (i) any applicable requirements
under the Code relating to ISOs; or (ii) any other applicable law, regulation or
rule), would:

        (a) except as is provided in Section 9, increase the maximum number of
            shares of Stock which may be sold or awarded under the Plan;

        (b) except as is provided in Section 9, decrease the minimum option
            exercise price requirements of Section 5(a);

        (c) change the class of persons eligible to receive Options under the
            Plan; or

        (d) extend the duration of the Plan or the period during which Options
            may be exercised under Section 5(b).

The Committee may amend the terms of any Option theretofore granted, including
any Agreement, retroactively or prospectively, but no such amendment shall
impair the previously accrued rights of any Optionee without his or her written
consent.

     13. DURATION. Following the adoption of the Plan by the Board, the Plan
shall become effective as of the date on which it is approved by the holders of
a majority of the Company's

                                      -12-
<Page>

outstanding common stock which is present and voted at a meeting, or by written
consent in lieu of a meeting, which approval must occur within the period ending
twelve (12) months after the date the Plan is adopted by the Board. The Plan
shall terminate upon the earliest to occur of:

        (a) the effective date of a resolution adopted by the Board terminating
            the Plan;

        (b) the date all shares of Stock subject to the Plan are delivered
            pursuant to the Plan's provisions; or

        (c) ten (10) years from the date the Plan is approved by the Company's
            stockholders.

No Option may be granted under the Plan after the earliest to occur of the
events or dates described in the foregoing paragraphs (a) through (c) of this
Section 13; HOWEVER, Options theretofore granted may extend beyond such date.

No such termination of the Plan shall affect the previously accrued rights of
any Optionee hereunder and all Options previously granted hereunder shall
continue in force and in operation after the termination of the Plan, except as
they may be otherwise terminated in accordance with the terms of the Plan or the
Agreement.

     14. DEFINITIONS. As used in the Plan, the following capitalized terms shall
have the meanings set forth below:

        (a) "AFFILIATE" - other than the Company, (i) any corporation or limited
liability company in an unbroken chain of corporations or limited liability
companies ending with the Company if each corporation or limited liability
company owns stock or membership interests (as applicable) possessing more than
fifty percent (50%) of the total combined voting power of all classes of stock
in one of the other corporations or limited liability companies in such chain;
(ii) any corporation, trade or business (including, without limitation, a
partnership or limited liability company) which is more than fifty percent (50%)
controlled (whether by ownership of stock, assets or an equivalent ownership
interest or voting interest) by the Company or one of its Affiliates; or (iii)
any other entity, approved by the Committee as an Affiliate under the Plan, in
which the Company or any of its Affiliates has a material equity interest.

        (b) "AGREEMENT" - a written stock option award agreement evidencing an
Option, as described in Section 2(e).

        (c) "BOARD" - the Board of Directors of the Company.

        (d) "CERTIFICATE OF DESIGNATIONS" - the Certificate of Designations,
Preferences and Relative, Participating, Option and Other Special Rights of
Preferred Stock and Qualifications, Limitations and Restrictions Thereof of 18%
Senior Convertible Redeemable Series D Preferred Stock of APCOA/Standard
Parking, Inc.

                                      -13-
<Page>

        (e) Unless otherwise determined by the Committee and set forth in the
applicable Agreement, "CHANGE IN CONTROL" shall mean a Change in Control as
defined in the Certificate of Designations.

        (f) "CODE" - the Internal Revenue Code of 1986, as it may be amended
from time to time, including regulations and rules thereunder and successor
provisions and regulations and rules thereto.

        (g) "COMMITTEE" - the Chairman of the Board, or such Board committee as
may be designated by the Board to administer the Plan.

        (h) "COMPANY" - APCOA/Standard Parking Inc., a Delaware corporation, or
any successor entity.

        (i) "EFFECTIVE DATE" - the date on which the Plan is effective, as
determined pursuant to Section 13.

        (j) "EXCHANGE ACT" - the Securities Exchange Act of 1934, as amended,
and the rules and regulations promulgated thereunder.

        (k) "FAIR MARKET VALUE" - of a share of Stock as of a given date shall
be the fair market value of a share of Stock as determined by the Board in its
sole discretion by such reasonable valuation method as the Board shall, in its
discretion, select and apply in good faith on a given date; PROVIDED, HOWEVER,
that for purposes of paragraphs (a) and (h) of Section 5, such fair market value
shall be determined subject to Section 422(c)(7) of the Code; PROVIDED FURTHER,
HOWEVER, that (i) if the Stock is listed or admitted on a national securities
exchange, Fair Market Value on any date shall be the last sale price reported
for a share of Stock on such exchange on such date or on the last date preceding
such date on which a sale was reported, or (ii) if the Stock is not then listed
or admitted on such an exchange, but is admitted to quotation on the Nasdaq
National Market (or any successor or similar quotation system regularly
reporting the market value of the Stock in the over-the-counter market), Fair
Market Value on any date shall be the mean of the closing representative bid and
asked prices for the Stock on such date or on the last date preceding such date
on which a sale was reported.

        (l) "IPO" or "INITIAL PUBLIC OFFERING" - an initial public offering of
shares of common stock, par value $0.01, of the Company registered under the
Securities Act, whether for the sale of shares of the Company's common stock by
the Company or by stockholders of the Company.

        (m) "IPO REDEMPTION" - an IPO Redemption as defined in the Certificate
of Designations.

        (l) "ISO" or "INCENTIVE STOCK OPTION" - a right to purchase Stock
granted to an Optionee under the Plan in accordance with the terms and
conditions set forth in Section 5 and which conforms to the applicable
provisions of Section 422 of the Code.

                                      -14-
<Page>

        (m) "NOTICE" - written notice actually received by the Company at its
executive offices on the day of such receipt, if received on or before 1:30
p.m., on a day when the Company's executive offices are open for business, or,
if received after such time, such notice shall be deemed received on the next
such day, which notice may be delivered in person to the Chairman of the Board
or sent to the Company in accordance with the Agreement at the address indicated
in such Agreement.

        (n) "OPTION" - a right to purchase Stock granted to an Optionee under
the Plan in accordance with the terms and conditions set forth in Section 5.
Options may be either ISOs or stock options other than ISOs.

        (o) "OPTIONEE" - an individual who is eligible, pursuant to Section 4,
and who has been selected, pursuant to Section 2(c), to participate in the Plan,
and who holds an outstanding Option granted to such individual under the Plan in
accordance with the terms and conditions set forth in Section 5.

        (p) "PERSON" - an individual, partnership, corporation, limited
liability company, business trust, joint stock company, trust, unincorporated
association, joint venture, governmental authority or other entity of whatever
nature.

        (q) "PLAN" - this APCOA/Standard Parking, Inc. 2001 Stock Option Plan.

        (r) "SECURITIES ACT" - the Securities Act of 1933, as it may be amended
from time to time, including the regulations and rules promulgated thereunder
and successor provisions and regulations and rules thereto.

        (s) "STOCK" - the 18% Senior Convertible Redeemable Series D Preferred
Stock due 2008 of the Company.

        (t) "SUBSIDIARY" - any present or future corporation which is or would
be a "subsidiary corporation" of the Company as the term is defined in Section
424(f) of the Code.

                                      -15-

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