Waiver and Consent Agreement between TJ Parass and Questica Software Inc. (Effective January 26, 2022)
This agreement is between TJ Parass and Questica Software Inc. It allows the company to pay Mr. Parass's 2021 annual bonus in cash, restricted stock units (vesting within one year), or a combination of both, instead of only cash as originally required. This waiver applies only to the 2021 bonus and does not change any other terms of the original agreement between the parties.
Exhibit 10.1
WAIVER AND CONSENT
THIS WAIVER AND CONSENT (“Waiver and Consent”) is provided by TJ Parass (“Executive”) to Questica Software Inc., assignee of GTY Technology Holdings Inc. (the “Company”) effective as of January 26, 2022 (the “Effective Date”).
1. Executive and Company entered into an amended and restated letter agreement dated July 1, 2021 (the “Agreement”). Capitalized terms used and not defined in this Waiver and Consent have the meanings assigned to them in the Agreement.
2. Section 2 of the Agreement requires the Company to pay an Annual Bonus in cash (the “Cash Payment Requirement”).
3. Company has requested that Executive permit the Company to pay the Annual Bonus for 2021 in cash, Restricted Stock Units with a vesting period of no more than one year, or a combination of both at the Company’s discretion (the “Cash-or-Equity Payment Option”).
4. Executive is willing to waive, and by executing this Waiver and Consent does waive, the Cash Payment Requirement and consents to the Cash-or-Equity Payment Option with respect to the Annual Bonus for 2021.
5. The Waiver and Consent does not constitute a waiver of or consent to any matter other than as expressly provided herein. Executive’s execution of this Waiver and Consent is not, and shall not be construed as, a modification of the terms of the Agreement, except as expressly described in this Waiver and Consent.
IN WITNESS WHEREOF, Executive has executed this Waiver and Consent as of the Effective Date.
TJ PARASS | |
/s/ TJ Parass |