SEC Contract Filing

Filing Date: 2022-12-30

Document Content:
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<TYPE>EX-10.2
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<FILENAME>d432952dex102.htm
<DESCRIPTION>EX-10.2
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<TITLE>EX-10.2</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>FOURTH AMENDMENT TO EMPLOYMENT AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Fourth Amendment to Employment Agreement by and between SP Plus Corporation, a Delaware corporation with its corporate office in Chicago,
Illinois (the &#147;Company&#148;), and John Ricchiuto, an individual (the &#147;Executive&#148;), is as of January&nbsp;1, 2023. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>RECITALS</U>: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A. The Company and the
Executive entered into that certain Amended and Restated Executive Employment Agreement dated as of December&nbsp;1, 2002 (the &#147;Original Employment Agreement&#148;). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">B. The Company and the Executive agreed to certain amendments to the Original Employment Agreement as set forth in: that certain First Amendment to Employment
Agreement dated as of April&nbsp;1, 2005; (ii) that certain Second Amendment to Employment Agreement dated as of December&nbsp;28, 2008; and (iii)&nbsp;that certain Third Amendment to Employment Agreement dated as of April&nbsp;2, 2012. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">C. The Company and the Executive have, after a series of discussions, agreed to amend certain provisions of the Agreement as set forth in this document (this
&#147;Fourth Amendment&#148;), effective on the date set forth in this first paragraph of this Fourth Amendment (together with the Original Agreement and the First, Second and Third Amendments, the &#147;Agreement&#148;), and to enter into a
Consulting Agreement. A copy of the Consulting Agreement is attached to this Fourth Amendment as Exhibit &#147;A.&#148; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">D. Except as expressly set forth
in this Fourth Amendment, the Agreement shall continue in full force and effect. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">E. Any term that is not defined in this Fourth Amendment shall have the
meaning ascribed to that term in the Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the foregoing recitals and the employment of the
Executive by the Company under the terms of the Agreement, as amended by this Fourth Amendment, the Company and the Executive agree as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1. Recital
A of the Agreement is amended and restated to read as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;A. Prior to the Effective Date, Executive was employed by the Company
pursuant to a Management Employment Agreement dated July&nbsp;1, 1998 as amended by the First Amendment to Amended and Restated Executive Employment Agreement dated April&nbsp;1, 2005, the Second Amendment to Employment Agreement dated
December&nbsp;29, 2008 and the Third Amendment to Employment Agreement dated April&nbsp;2, 2012. The Company is in the business of providing an array of technology-driven mobility solutions for commercial, institutional and residential property
management services, including, operating private and public parking facilities for itself, its subsidiaries, affiliates and others, and as a </P>
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consultant and/or manager for parking facilities operated by others throughout the United States and Canada, providing <FONT STYLE="white-space:nowrap">on-street</FONT> and <FONT
STYLE="white-space:nowrap">off-street</FONT> parking enforcement, residential, institutional and commercial property management services, security services for commercial establishments, logistics support for large-scale events and airport,
institutional and urban transportation services (the Company and its subsidiaries and affiliates and other Company-controlled businesses, including its divisions (in each case including their predecessor&#146;s or successor&#146;s), are also
referred to hereinafter as the &#147;Parking Companies&#148;).&#148; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2. Section 1 of the Agreement <U>Employment Period</U> is amended and restated to
read as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;1. <U>Employment Period</U>. The Company shall employ the Executive, and the Executive shall serve the Company, on the terms and
conditions set forth in this Agreement, for a period beginning on January&nbsp;1, 2023, and ending December&nbsp;31, 2023 (the &#147;Employment Period&#148;). Notwithstanding any termination of this Agreement, all of the terms and provisions set
forth in paragraph 6 of this Agreement shall remain in full force and effect.&#148; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-