Document:

Exhibit 10.14

    

    

    AMENDMENT TO

    EMPLOYMENT AGREEMENT

    

    

    This Amendment (this “Amendment”)
        to the Employment Agreement (as defined below), dated as of June 6th, 2019, is entered into by and between Maju Abraham (“Employee”) and Insurance
        Auto Auctions, Inc., together with its subsidiaries (collectively, the “Company”).  All capitalized terms not otherwise defined herein shall have the
        meanings ascribed to them in the Employment Agreement  (as defined below).

    

    

    WHEREAS, Employee and the Company are party to an employment agreement dated as of October 15, 2015 (the “Employment Agreement”); and

    

    

    WHEREAS, the parties to the Employment Agreement wish to amend the Employment Agreement to make certain administrative and
        regulatory changes.

    

    

    NOW, THEREFORE, in consideration for the mutual covenants and promises hereinafter set forth and for other good and valuable
        consideration, and expressly intending to be legally bound, thereby and hereby, the parties agree as follows:

    

    

    1.          A new paragraph shall be
        added to the end of Article 3 (General Provisions), which shall read in its entirety as follows:

    

    

    Section 409A.
        The intent of the parties is that payments and benefits under this Agreement comply with Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations and guidance promulgated thereunder (“Section 409A”), to the extent subject
        thereto, and accordingly, to the maximum extent permitted, this Agreement shall be interpreted and administered to be in compliance therewith.  Notwithstanding anything contained in this Agreement to the contrary, Employee shall not be considered
        to have terminated employment with the Company for purposes of any payments under this Agreement which are subject to Section 409A until Employee would be considered to have incurred a “separation from service” from the Company within the meaning
        of Section 409A.  Each amount to be paid or benefit to be provided under this Agreement shall be construed as a separate and distinct payment for purposes of Section 409A.  Without limiting the foregoing and notwithstanding anything contained in
        this Agreement to the contrary, to the extent required to avoid accelerated taxation and/or tax penalties under Section 409A, amounts that would otherwise be payable and benefits that would otherwise be provided pursuant to this Agreement or any
        other arrangement between Employee and the Company during the six (6) month period immediately following Employee separation from service shall instead be paid on the first business day after the date that is six (6) months following Employee’s
        separation from service (or, if earlier, Employee’s date of death). The Company shall not accelerate any payments hereunder (including under the third sentence of Section 3(d)(i) hereof) to the extent such acceleration would result in accelerated
        taxation and/or tax penalties under Section 409A. To the extent required to avoid accelerated taxation and/or tax penalties under Section 409A, amounts reimbursable to Employee under this Agreement shall be paid to Employee on or before the last
        day of the year following the year in which the expense was incurred and the amount of expenses eligible for reimbursement (and in kind benefits provided to Employee) during one year may not affect amounts reimbursable or provided in any subsequent
        year.  The Company makes no representation that any or all of the payments described in this Agreement will be exempt from or comply with Section 409A and makes no undertaking to preclude Section 409A from applying to any such payment.  Employee
        understands and agrees that Employee shall be solely responsible for the payment of any taxes, penalties, interest or other expenses incurred by Executive on account of non-compliance with Section 409A.

    
      
        

    

    
    2.          Except as otherwise expressly
        provide herein, all of the terms and provisions of the Employment Agreement shall remain in full force and effect and this Amendment shall not amend or modify any other rights, powers, duties or obligations of any party to the Agreement.

    

    

    3.          This Amendment may be
        executed in counterparts, which together shall constitute one and the same original.

    

    

    IN WITNESS WHEREOF, the parties hereto have duly executed this Amendment, or caused this Amendment to be duly executed on
        their behalf, as of the day and year first above written.

    

    

    
      	 	
              INSURANCE AUTO AUCTIONS, INC.

            
	 	 	 
	 	
              By:

            	 /s/ John Kett

            
	 	Printed:	  John Kett

            
	 	Title:	  CEO

            

    

    

    

    	 	
            EMPLOYEE

          
	 	 	 
	 	 	 /s/ Maju Abraham

          
	 	 	
             Maju Abraham

          
	 	 	 
	 	 	 

    

    

  

  2Exhibit 10.15

    

    

    

    IAA, INC.

    EMPLOYEE STOCK PURCHASE PLAN

    

    

    ARTICLE I

    PURPOSE AND SCOPE OF THE PLAN

    

    

    1.1          Purpose

    

    

    The IAA, Inc. Employee Stock Purchase Plan is intended to encourage employee participation in the ownership and economic
        progress of the Company.

    

    

    1.2          Definitions

    

    

    Unless the context clearly indicates otherwise, the following terms have the meaning set forth below:

    

    

    “Board of Directors”
        or “Board” shall mean the Board of Directors of the Company.

    

    

    “Code” shall mean the
        Internal Revenue Code of 1986, as amended from time to time, together with any applicable regulations issued thereunder.

    

    

    “Committee” shall
        mean the committee of officers established by the Board to administer the Plan, which Committee shall administer the Plan as provided in Section 1.3 hereof.

    

    

    “Common Stock” shall
        mean shares of the common stock, par value $0.01 per share, of the Company.

    

    

    “Company” shall mean
        IAA, Inc. (f/k/a IAA Spinco Inc.).

    

    

    “Compensation” shall
        mean the fixed salary or base wage paid by the Company to an Employee as reported by the Company to the United States government (or other applicable government) for income tax purposes, including an Employee’s portion of salary deferral
        contributions pursuant to Code Section 401(k) and any amount excludable pursuant to Code Section 125, but excluding any bonus, fee, overtime pay, severance pay, expenses, stock option or other equity incentive income, or other special emolument or
        any credit or benefit under any employee plan maintained by the Company.

    

    

    “Continuous Service”
        shall mean the period of time, uninterrupted by a termination of employment (other than a termination as a result of a transfer of employment among the Parent, the Company or a Designated Subsidiary), that an Employee has been employed by the
        Company, a Designated Subsidiary or the Parent (or any combination of the foregoing) immediately preceding an Offering Date. Such period of time shall include any approved leave of absence.

    
      
        

    

    
    “Designated Subsidiary”
        shall mean any subsidiary of the Company that has been designated by the Committee to participate in the Plan.

    

    

    “Employee” shall mean
        any person who is employed by the Company or a Designated Subsidiary as a common law employee. Any individual who performs services for the Company or a Designated Subsidiary solely through a leasing or employment agency shall not be considered an
        Employee.

    

    

    “Exchange Act” shall
        mean the Securities Exchange Act of 1934, as amended from time to time.

    

    

    “Exercise Date” shall
        mean the last business day of each calendar month of each Plan Year, or such other date(s) as determined by the Committee, provided, however, that no Exercise Date with respect to a right to purchase shares of Common Stock under the Plan shall be
        later than 5 years from the date such right was granted. The Exercise Date constitutes the “date of grant of the option” for purposes of Section 423 of the Code.

    

    

    “Fair Market Value”
        as of a particular date shall mean the fair market value of a share of Common Stock as determined by the Administrator in its sole discretion; provided, however, that (i) if the Common Stock is admitted to trading on a national securities exchange,
        the fair market value of a share of Common Stock on any date shall be the closing sale price reported for such share on such exchange on such date or, if no sale was reported on such date, on the last day preceding such date on which a sale was
        reported, or (ii) if the shares of Common Stock are not then listed on the New York Stock Exchange, the average of the highest reported bid and lowest reported asked prices for the shares of Common Stock as reported by the National Association of
        Securities Dealers, Inc. Automated Quotations System for the last preceding date on which there was a sale of such stock in such market, or (3) if the shares of Common Stock are not then listed on a national securities exchange or traded in an
        over-the-counter market or the value of such shares is not otherwise determinable, such value as determined by the Committee in good faith and in accordance with Code Section 409A.

    

    

    “Offering Date” shall
        mean the first business day of each calendar month of each Plan Year, or such other date(s) as determined by the Committee.

    

    

    “Option Period” or “Period” shall mean each calendar month commencing at the time specified by the Committee.

    

    

    “Option Price” shall
        mean the purchase price of a share of Common Stock hereunder as provided in Section 3.1 hereof.

    

    

    “Parent” shall mean
        any corporation in an unbroken chain of corporations ending with the Company, if each of the corporations other than the Company owns stock possessing 50% or more of the total combined voting power of all classes of stock of one of the other
        corporations in such chain.

    

    

    “Participant” shall
        mean any Employee who (i) is eligible to participate in the Plan under Section 2.1 hereof and (ii) elects to participate.

    
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    “Plan” shall mean the
        Company’s Employee Stock Purchase Plan, as the same may be amended from time to time.

    

    

    “Plan Account” or “Account” shall mean an account established and maintained in the name of each Participant.

    

    

    “Plan Manager” shall
        mean any Employee appointed pursuant to Section 1.3 hereof.

    

    

    “Plan Year” shall
        mean the twelve (12) month period beginning January 1 and ending on the following December 31.

    

    

    “Stock Purchase Agreement”
        shall mean the form prescribed by the Committee or the Company which must be completed and executed by an Employee who elects to participate in the Plan.

    

    

    1.3          Administration
        of Plan

    

    

    Subject to oversight by the Board of Directors or the Board’s Compensation Committee, the Committee shall have the authority
        to administer the Plan and to make and adopt rules and regulations not inconsistent with the provisions of the Plan or the Code. The Committee shall adopt the form of Stock Purchase Agreement and all notices required hereunder. Its interpretations
        and decisions in respect to the Plan shall, subject as aforesaid, be final and conclusive. The Committee shall have the authority to appoint an Employee as Plan Manager and to delegate to the Plan Manager such authority with respect to the
        administration of the Plan as the Committee, in its sole discretion, deems advisable from time to time.

    

    

    1.4          Effective
        Date of Plan

    

    

    The Plan shall become effective on the date established for that purpose by the Committee, if, prior to that date, the Plan
        (i) has been adopted by the Board of Directors of the Company and (ii) has been approved by an affirmative vote of a majority of votes cast by the holders of the Company’s common stock.

    

    

    1.5          Extension
        or Termination of Plan

    

    

    The Plan shall continue in effect through and including December 31, 2028, unless terminated prior thereto pursuant to
        Section 4.3 hereof, or by the Board of Directors or the Compensation Committee of the Board, each of which shall have the right to extend the term of or terminate the Plan at any time. Upon any such termination, the balance, if any, in each
        Participant’s Account shall be refunded to him, or otherwise disposed of in accordance with policies and procedures prescribed by the Committee in cases where such a refund may not be possible.

    
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    ARTICLE II

    PARTICIPATION

    

    

    2.1          Eligibility

    

    

    Each Employee who is customarily employed as a full time employee of the Company or a Designated Subsidiary shall be eligible
        to participate in the Plan beginning on the later of the date on which the first Option Period commences or the date that he or she completed three (3) months of Continuous Service. Each Employee who is customarily employed as a part-time Employee
        of the Company or a Designated Subsidiary shall be eligible to participate in the Plan beginning on the later of the date on which the first Option Period commences or the date as of which he or she has completed six (6) months of Continuous
        Service and been credited with at least five hundred (500) hours of service. All employment with the Company and/or a Designated Subsidiary prior to the date on which the first Option Period commences shall be counted for purposes of determining
        eligibility to participate in the Plan. For purposes of this Section 2.1, whether an Employee is “customarily employed” shall be determined by the Committee based on the Company’s or Designated Subsidiary’s policies and procedures in effect from
        time to time. No Employee may participate in the Plan if said Employee, immediately after an Offering Date, would be deemed for purposes of Code Section 423(b)(3) to possess 5% or more of the total combined voting power or value of all classes of
        stock of the Company, its Parent or any subsidiary.

    

    

    2.2          Ineligible
        Employees

    

    

    Notwithstanding any provisions of the Plan to the contrary, no Employee shall be granted a right to purchase shares of Common
        Stock under the Plan to the extent that:

    

    

    (a)          immediately after the grant,
        such Employee would own stock, and/or hold or own options, possessing five percent (5%) or more of the total combined voting power or value of all classes of stock of the Company, the Parent or any subsidiary corporation (determined under the rules
        of Sections 423(b)(3) and 424(d) of the Code); or

    

    

    (b)          immediately after the grant,
        such Employee’s right to purchase Company Stock under all employee stock purchase plans (as defined in Section 423 of the Code) of the Company and any related company would accrue at a rate which exceeds $25,000 in Fair Market Value of such Company
        Stock (determined at the time such purchase right is granted) for each calendar year in which such purchase right would be outstanding at any time.

    

    

    2.3          Payroll
        Deductions

    

    

    Payment for shares of Common Stock purchased hereunder shall be made by authorized payroll deductions from each payment of
        Compensation in accordance with instructions received from a Participant. Said deductions shall be expressed as a whole number percentage which shall be at least one percent (1%) but not more than fifteen percent (15%). A Participant may not
        increase or decrease the deduction during an Option Period. However, a Participant may change the percentage deduction for any subsequent Option Period by filing notice thereof with the Company prior to the Offering Date on which such Period
        commences. During an Option Period, a Participant may discontinue payroll deductions but have the payroll deductions previously made during that Option Period remain in the Participant’s Account to purchase Common Stock on the next Exercise Date,
        provided that he or she is an Employee as of that Exercise Date. Any amount remaining in the Participant’s Account after the purchase of Common Stock shall be refunded without interest upon the written request of the Participant. Any Participant
        who discontinues payroll deductions during an Option Period may again become a Participant for a subsequent Option Period by executing and filing another Stock Purchase Agreement in accordance with Section 2.1. Amounts deducted from a Participant’s
        Compensation pursuant to this Section 2.3 shall be credited to said Participant’s Account.

    
      4

      
        

    

    An eligible Employee may also elect to participate in the Plan solely through optional cash payments in whole dollars (and no
        payroll deductions) in accordance with such procedures as the Committee shall prescribe. Optional cash payments by a Participant cannot be less than twenty-five dollars ($25 U.S.) per payment. A Participant who elects to participate in the optional
        cash payment only feature may at any time elect to enroll also in the payroll deduction feature by notifying the Company in accordance with such procedures as the Committee shall prescribe. In the case of Participants whose Compensation is not paid
        in the currency of the United States, the Committee shall periodically determine, not less frequently than once per calendar year, a minimum payroll deduction that is comparable to ten dollars ($10 U.S.), and a minimum optional cash payment that is
        comparable to twenty-five dollars ($25 U.S.), based on applicable currency exchange rates as determined by the Committee.

    

    

    ARTICLE III

    PURCHASE OF SHARES

    

    

    3.1          Option
        Price

    

    

    The Option Price per share of the Common Stock sold to Participants hereunder shall be eighty-five percent (85%) of the Fair
        Market Value of such share on the Exercise Date of an Option Period, but in no event shall the Option Price per share be less than the par value of the Common Stock.

    

    

    3.2          Purchase
        of Shares

    

    

    On each Exercise Date, the amount in a Participant’s Account shall be charged with the aggregate Option Price of the largest
        number of shares of Common Stock, including fractional shares, which can be purchased with said amount. The balance, if any, in such account shall be carried forward to the next succeeding Option Period.

    

    

    3.3          Limitations
        on Purchase

    

    

    Notwithstanding any provisions of the Plan to the contrary, no Employee shall be granted an option under the Plan if,
        immediately after the grant, such Employee’s right to purchase Common Stock under all employee stock purchase plans (as defined in Section 423 of the Code) of the Company and any related company would accrue at a rate which exceeds $25,000 in Fair
        Market Value of such Common Stock (determined at the time such purchase right is granted) for each calendar year in which such purchase right would be outstanding at any time.

    
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    3.4          Transferability of Rights
    

    

    Rights to purchase shares hereunder shall be exercisable only by the Participant. Such rights shall not be transferable.

    

    

    ARTICLE IV

    PROVISIONS RELATING TO COMMON STOCK

    

    

    4.1          Common
        Stock Reserved

    

    

    There shall be a maximum of 1,000,000 shares of Common Stock reserved for the Plan, subject to adjustment in accordance with
        Section 4.2 hereof. The aggregate number of shares which may be purchased under the Plan shall not exceed the number of shares reserved for the Plan.

    

    

    4.2          Adjustment
        for Changes in Common Stock

    

    

    In the event that adjustments are made in the number of outstanding shares of Common Stock or said shares are exchanged for a
        different class of stock of the Company or for shares of stock of any other corporation by reason of merger, consolidation, stock dividend, stock split or otherwise, the Committee shall make appropriate adjustments in (i) the number and class of
        shares or other securities that may be reserved for purchase, or purchased, hereunder, and (ii) the Option Price. All such adjustments shall be made in the sole discretion of the Committee, and its decision shall be binding and conclusive.
        Notwithstanding anything to the contrary in this Plan, in any event, (i) the number of shares of Common Stock that may be reserved for purchase or purchased hereunder shall not exceed 1,000,000 shares, and (ii) the Option Price per share shall not
        be less than eighty-five percent (85%) of the Fair Market Value of such share on the Exercise Date of an Option Period.

    

    

    4.3          Insufficient
        Shares

    

    

    If the aggregate funds available for purchase of Common Stock on any Exercise Date would cause an issuance of shares in
        excess of the number provided for in Section 4.1 hereof, (i) the Committee shall proportionately reduce the number of shares which would otherwise be purchased by each Participant in order to eliminate such excess and (ii) the Plan shall
        automatically terminate immediately after such Exercise Date.

    

    

    4.4          Confirmation

    

    

    Confirmation of each purchase of Common Stock hereunder shall be made available to the Participant in either written or
        electronic format. A record of purchases shall be maintained by appropriate entries on the books of the Company. Participants may obtain a certificate or certificates for all or part of the shares of Common Stock purchased hereunder upon making a
        written request. Unless otherwise determined by the Committee, shares of Common Stock delivered to a Participant hereunder may not be assigned, transferred, pledged or otherwise disposed of in any way by the Participant during the six (6) month
        period following such delivery to the Participant (other than by will, the laws of descent and distribution) and the shares of Common Stock shall bear a legend denoting such restrictions as may be determined by the Committee to be appropriate.

    
      6

      
        

    

    4.5          Rights as
        Shareholders

    

    

    The shares of Common Stock purchased by a Participant on an Exercise Date shall, for all purposes, be deemed to have been
        issued and sold as of the close of business on such Exercise Date. Prior to that time, none of the rights or privileges of a shareholder of the Company shall exist with respect to such shares.

    

    

    ARTICLE V

    TERMINATION OF PARTICIPATION

    

    

    5.1          Voluntary
        Withdrawal

    

    

    A Participant may withdraw from the Plan at any time by filing notice of withdrawal prior to the close of business on an
        Exercise Date. Upon withdrawal, the entire amount, if any, in a Participant’s Account shall be refunded to him without interest. Any Participant who withdraws from the Plan may again become a Participant in accordance with Section 2.1 hereof.

    

    

    5.2          Termination
        of Eligibility

    

    

    If a Participant Retires, he may elect to (i) withdraw the entire amount, if any, in his Plan Account, or (ii) have said
        amount used to purchase whole shares of Common Stock pursuant to Section 3.2 hereof on the next succeeding Exercise Date and have any remaining balance refunded without interest.

    

    

    If a Participant ceases to be eligible under Section 2.1 hereof for any reason other than retirement, the dollar amount and
        the number of unissued shares in such Participant’s Account will be refunded or distributed to the Participant, or, in the case of death, the Participant’s designated beneficiary or estate, or otherwise disposed of in accordance with policies and
        procedures prescribed by the Committee in cases where such a refund or distribution may not be possible.

    

    

    ARTICLE VI

    GENERAL PROVISIONS

    

    

    6.1          Notices

    

    

    Any notice which a Participant files pursuant to the Plan shall be made on forms prescribed by the Committee and shall be
        effective only when received by the Company.

    

    

    6.2          Condition
        of Employment

    

    

    Neither the creation of the Plan nor participation therein shall be deemed to create any right of continued employment or in
        any way affect the right of the Company or a Designated Subsidiary to terminate an Employee.

    
      7

      
        

    

    6.3          Withholding
        of Taxes; Other Charges

    

    

    Each Participant shall, no later than the date as of which the value of an option under the Plan and/or shares of Common
        Stock first becomes includible in the income of the Participant for income tax purposes, pay to the Company, or make arrangements satisfactory to the Committee regarding payment of, any taxes of any kind required by law to be withheld with respect
        to such option or shares of Common Stock. The obligations of the Company under the Plan shall be conditional on the making of such payments or arrangements, and the Company shall, to the extent permitted by law, have the right to deduct any such
        taxes from any payment of any kind otherwise due to the Participant.

    

    

    In particular, to the extent a Participant is subject to taxation under U.S. Federal income tax law, if the Participant makes
        a disposition, within the meaning of Code Section 424(c) of any share or shares of Common Stock issued to Participant pursuant to Participant’s exercise of an option, and such disposition occurs within the two-year period commencing on the day
        after the Offering or within the one-year period commencing on the day after the Exercise Date, Participant shall, within ten (10) days of such disposition, notify the Company thereof and thereafter immediately deliver to the Company any amount of
        federal, state or local income taxes and other amounts which the Company informs the Participant the Company may be required to withhold.

    

    

    Participants shall be solely responsible for any commissions or other charges imposed with respect to the purchase or sale of
        shares of Common Stock pursuant to the terms of this Plan.

    

    

    6.4          Amendment
        of the Plan

    

    

    The Board of Directors or the Board’s Compensation Committee may at any time, or from time to time, amend the Plan in any
        respect, except that, without approval of the shareholders, no amendment may increase the aggregate number of shares reserved under the Plan other than as provided in Section 4.2 hereof, materially increase the benefits accruing to Participants or
        materially modify the requirements as to eligibility for participation in the Plan. Any amendment of the Plan must be made in accordance with applicable provisions of the Code and/or any regulations issued thereunder, any other applicable law or
        regulations, and the requirements of the principal exchange upon which the Common Stock is listed.

    

    

    6.5          Application
        of Funds

    

    

    All funds received by the Company by reason of purchases of Common Stock hereunder may be used for any corporate purpose.

    

    

    6.6          Legal
        Restrictions

    

    

    The Company shall not be obligated to sell shares of Common Stock hereunder if counsel to the Company determines that such
        sale would violate any applicable law or regulation.

    

    

    6.7          Gender

    

    

    Whenever used herein, use of any gender shall be applicable to both genders.

    
      8

      
        

    

    6.8          Governing
        Law

    

    

    The Plan and all rights and obligations thereunder shall be constructed and enforced in accordance with the laws of the State
        of Delaware and any applicable provisions of the Code and the related regulations.

    

    

  

  9

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