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STAN > SEC Filings for STAN > Form 8-K on 6-Jun-2013All Recent SEC Filings

Show all filings for STANDARD PARKING CORP



Entry into a Material Definitive Agreement, Financial Statements and Exhibi

Item 1.01. Entry into a Material Definitive Agreement.

Standard Parking Corporation (the "Company") entered into an Executive Employment Agreement with Keith B. Evans, the Company's Executive Vice President, Strategy, Information Technology and Process, on April 22, 2013 (the "Agreement"). The Agreement is effective as of January 1, 2013, the date Mr. Evans became an executive officer of the Company. The Agreement will renew automatically for a period of one year commencing on January 1, 2014 and on every anniversary thereafter unless either party provides written notice of its intent to terminate the Agreement at least 180 days prior to the automatic renewal date.

Mr. Evans will receive an annual base salary of not less than $300,000 pursuant to the Agreement. He is also entitled to participate in the Company's annual bonus program, and Mr. Evans' target annual bonus will not be less than $90,000. He is also entitled to participate in the Company's equity incentive plans and other benefit programs. The Agreement contains confidentiality, non-solicitation, non-competition and assignment of inventions provisions. Mr. Evans is also entitled to salary continuation payments following his termination that vary depending upon the circumstances of termination.

The foregoing description of the Agreement is not intended to be complete and is qualified in its entirety by the complete text of the Agreement, which is attached as Exhibit 10.1 to this report and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

10.1 Executive Employment Agreement between Standard Parking Corporation and Keith B. Evans dated April 22, 2013.

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