SEC Contract Filing

Filing Date: 2021-12-10

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex10-1.htm
<DESCRIPTION>ARCHER
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 <div style="text-align: right; margin-bottom: 12pt; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"> <a name="Exhibit10.1"><!--Anchor--></a>Exhibit 10.1<br>
 <font style="font-weight: normal;">Execution Version</font><br>
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 <div style="text-align: center; margin-bottom: 12pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;">AMENDMENT TO EMPLOYMENT AGREEMENT</div>
 <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">This Amendment (this &#8220;<font style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><u>Amendment</u></font>&#8221;)
 to the Employment Agreement by and between Target Logistics Management, LLC, a Massachusetts limited liability company (the &#8220;<font style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><u>Company</u></font>&#8221;), and James Bradley Archer
 (the &#8220;<font style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><u>Executive</u></font>&#8221;), dated as of January 29, 2019 (the &#8220;<font style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><u>Employment Agreement</u></font>&#8221;),
 is entered into as of January 1, 2022.</div>
 <div style="text-align: center; margin-bottom: 12pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;"><font style="font-size: 12pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">WITNESSETH</font>:</div>
 <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">WHEREAS, the Company and the Executive previously entered into the Employment Agreement; and</div>
 <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">WHEREAS, the Company has determined that it is prudent to amend the Employment Agreement&#8217;s terms to reflect changes
 to the Executive&#8217;s compensation arrangements and to revise the term of the Agreement; and</div>
 <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">WHEREAS, the Company and the Executive desire to so amend the Employment Agreement as set forth herein.</div>
 <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">NOW, THEREFORE, in consideration of the mutual covenants set forth in this Amendment, and for other good and valuable
 consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree as follows:</div>
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 <div style="text-align: left; margin-left: 36pt; margin-bottom: 12pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;">1.</div>
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 <div style="text-align: justify; margin-bottom: 12pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;"><font style="font-size: 12pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">AMENDMENTS TO THE EMPLOYMENT
 AGREEMENT</font>.</div>
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 <div style="margin-bottom: 12pt; text-indent: 72pt;"><font style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;">a.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;">Section 2 of the Employment Agreement shall be and hereby is amended by revising the first sentence to read &#8220;The initial term of employment under this Agreement, as amended, shall
 commence on January 1, 2022 and extend for 36 months (the &#8220;<font style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><u>Initial Term</u></font>&#8221;).&#8221;</font></div>
 <div style="margin-bottom: 12pt; text-indent: 72pt;"><font style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;">b.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 9pt">&#160;</font><font style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;">Section 9(d) of the Employment Agreement shall be and hereby is amended by revising the reference to &#8220;(C) continued Base Salary for 12 months following the Date of Termination
 (the &#8220;<font style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><u>Severance Period</u></font>&#8221;)&#8221; to be and to read &#8220;(C) an amount equal to 1.25x the sum of the Executive&#8217;s annual Base Salary and Target Bonus for the year, each
 determined as of the Date of Termination, which shall be paid over the 15 months following the Date of Termination (the &#8220;<font style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><u>Severance Period</u></font><font style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;">&#8221;)</font>&#8221;.</font></div>
 <div style="margin-bottom: 12pt; text-indent: 72pt;"><font style="font-siz