Second Amendment to Executive Employment Agreement between EVO Transportation & Energy Services, Inc. and Billy Peck, Jr.
This amendment updates the employment agreement between EVO Transportation & Energy Services, Inc. and Billy (“Trey”) Peck, Jr. It changes Mr. Peck’s title to Executive Vice President - Business Development, outlines his new duties, and sets his base salary at $225,000 per year. He is also eligible for an annual bonus of at least 65% of his base salary, subject to company performance standards. All other terms of the original agreement remain in effect.
Exhibit 10.102
SECOND AMENDMENT TO EXECUTIVE EMPLOYMENT AGREEMENT
This second amendment ("Second Amendment") effective as of January 1, 2021 is made to that certain Executive Employment Agreement dated June 1, 2018 (the "Initial Agreement") between EVO Transportation & Energy Services, Inc. ("Company") and Billy ("Trey") Peck, Jr. ("Executive") as amended March 23, 2020 (the "First Amendment", together, the Initial Agreement and the First Amendment are referred to herein as the "Agreement"). Capitalized terms used and not defined herein shall have the meaning set forth therefor in the Agreement.
WHEREAS, the Company and the Executive agreed to change the Executive's title and responsibilities whereby Executive relinquished the Chief Operating Officer title he previously held;
WHEREAS, the Company and the Executive previously agreed to the new title and responsibilities and wish to confirm such changes in a written amendment to the Agreement;
NOW TIIEREFORE, in consideration of the mutual premises set forth above, the terms contained herein and other good and valuable consideration, the sufficiency of which is hereby acknowledged and agreed, the parties agree as follows:
Section 1. Duties and Scope of Employment. Section l(a) of the Agreement is deleted and replaced in its entirety with the following new Section l(a):
Section 1. Duties and Scope of Employment.
Section 2. Compensation. Section 3(a) and Section 3(b) of the Agreement are deleted and replaced in their entirety with:
Section 3. Compensation. (a) Initial Base Salary. During the Employment Term, the Company will pay Executive an annual base salary as compensation for his services (the "Base Salary'') at the initial rate of$225,000. The Base Salary will be paid periodically in accordance with the Company's normal payroll practices, but no later than monthly. The Base Salary will be subject to review and adjustments will be made based upon the Company's standard practices.
Section 3. Other Changes. (a) Any reference in the Agreement to Chief Operating Officer is hereby changed, mutatis mutandi, to Executive Vice President and (b) the Company and Executive ratify, acknowledge, consent to and agree that Executive's responsibilities as Executive Vice President and relinquishment of the Chief Operating Officer title occurred prior to the date hereof.
Section 4. Miscellaneous. Except as modified by this Second Amendment, the Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have affixed their signatures as of December 1, 2020.
EVO TRANSPORTATION & ENERGY SERVICES, INC.
EXECUTIVE
By: /s/ Thomas J. Abood By: /s/ Billy Peck Jr.
Name: Thomas J. Abood Name: Billy (“Trey”) Peck, Jr.
Title: Chief Executive Officer