Exhibit 10.7.4
FOURTH AMENDMENT
TO EMPLOYMENT
AGREEMENT
This Fourth Amendment to
Employment Agreement is made this day
of December, 2008, by and between Standard Parking
Corporation , a Delaware corporation (the
“Company” ) , and Robert N. Sacks (the
“Executive” ).
RECITALS
A.
The Executive and the Company have
previously executed a certain Employment Agreement dated as of
May 18, 1998 (the “ Original Employment
Agreement ”). The Original Employment Agreement was
modified by that certain Amendment to Employment Agreement dated as
of November 7, 2001 (the “First
Amendment” ) between APCOA/Standard Parking, Inc.
and Executive, that certain Second Amendment dated April 1,
2003 by and between APCOA/Standard Parking, Inc. and the
Executive (the “ Second Amendment ”), and that
certain Third Amendment to Employment Agreement dated as of
April 1, 2005 by and between the Company and the Executive
(the “ Third Amendment ”). The Original
Employment Agreement, First Amendment, Second Amendment and Third
Amendment are hereafter referred to collectively as the (“
Agreement ”).
B.
The Company and the Executive desire
to amend the Agreement in order, among other things, to comply with
Section 409A of the Internal Revenue Code of 1986 (the “
Code ”) and the final regulation and guidance
promulgated thereunder.
NOW, THEREFORE,
in consideration of the Recitals,
the mutual promises and undertakings herein set forth, the receipt
and sufficiency of which consideration are hereby acknowledged, the
parties hereby agree that the Agreement shall be deemed modified
and amended, effective immediately, as follows:
1.
Paragraph 3(b) of the Agreement
shall be amen
