Employment Terms Agreement for Peggy C. Farra as Vice President Driver Recruitment and Safety at Transport Corporation of America, Inc.
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Summary
This agreement outlines the employment terms for Peggy C. Farra as Vice President of Driver Recruitment and Safety at Transport Corporation of America, Inc. She will receive a base salary of $145,000 per year, an annual bonus of 30% of her salary based on business goals, and stock options that vest over four years. Additional benefits include three weeks of vacation, participation in the company benefit plan, and a leased vehicle valued up to $40,000. Change in control provisions apply as per the company's standard agreement.
EX-10.1 2 tca051913_ex10-1.htm Exhibit 10.1 to Transport Corporation of America, Inc., Form 10-Q, Dated: March 31, 2005
Exhibit 10.1
The following is a written description of the terms of employment of Peggy C. Farra, pursuant to Item 601(b)(10)(ii)(B) of Regulation S-K:
| Title: | Vice President Driver Recruitment and Safety. | ||||
| Base Salary: | $145,000 per year. | ||||
| Annual Incentive Bonus: | 30% of base salary, based on achieving specific business goals. | ||||
| Stock Options: | Continued participation in current company program. Options to be granted commensurate | ||||
| with responsibilities at market price on date of grant, vesting over four years. | |||||
| Vacation: | Three weeks per year. | ||||
| Company Benefit Plan: | Based on current company program | ||||
| Automobile: | Lease of up to $40,000 value vehicle. | ||||
| Change in Control: | Pursuant to TCA form of Change in Control Agreement. | ||||
