Employment Terms Summary for Christopher R. Licht as Vice President, Safety and Risk Management
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Summary
This document outlines the employment terms for Christopher R. Licht as Vice President, Safety and Risk Management. He will receive a base salary of $105,000 per year, an annual bonus of 30% of his salary based on business goals, and 5,000 stock options vesting over four years. Benefits include vacation time, participation in the company benefit plan, a leased vehicle up to $40,000, and relocation expense reimbursement. Terms regarding change in control are governed by the company's standard agreement.
EX-10.20 8 transport041384_ex10-20.txt EXHIBIT 10.20 The following is a written description of the terms of employment of Christopher R. Licht, pursuant to Item 601(b)(10)(ii)(B) of Regulation S-K: Title: Vice President, Safety and Risk Management. Base Salary: $105,000 per year. Annual Incentive Bonus: 30% of base salary, based on achieving specific business goals. Stock Options: 5,000 options at market price on date of grant, vesting over four years. Vacation: One week vacation granted after six months, two weeks per year after one year of service. Company Benefit Plan: Based on current company program Automobile: Lease of up to $40,000 value vehicle. Other: Reimbursement of relocation expenses per TCA policy. Change in Control: Pursuant to TCA form of Change in Control Agreement.
