EX-10.16
from 10-K
~5
pages
Transport Corporation of America, Inc. 1715 Yankee Doodle Road Eagan, Mn 55121 October 17, 2002 Mr. Jeffrey P. Vandercook 3668 Ashbury Road Eagan, Mn 55122 Dear Jeff: This Letter Describes the Agreement by and Among You and Transport America Regarding (A) Your Termination as Vice President of Operations at Transport Corporation of America, Inc., and (B) Your Release of Any Claims You May Have Against Transport America. You Have Also Agreed to Certain Confidentiality Restrictions That Are Reflected in This Letter as Well. the Term “Transport America” as Used in This Agreement Means Transport Corporation of America, Inc., Its Subsidiaries and Respective Officers and Directors. If, After Reading This Letter, You Feel There Is Any Discrepancy Between Our Conversations and the Content of This Letter, Please Contact Karen Vesovich, Director of Human Resources. 1. Departure From Employment. the Parties Agree That Your Employment Relationship With Transport America Shall End Effective October 17, 2002 (The “Departure Date”), and That, Except for Payment by Transport America to You of Compensation in the Aggregate Sum of $16,983.03 (Less Applicable Withholding) for 328.60 Hours of Earned and Unused Vacation Time and Personal Leave, Transport America Will Stop All Salary and Other Compensation Payments to You as of the Departure Date Subject Only to the Provisions of This Agreement. 2. Severance Benefits. Although Neither Transport America Nor You Are Obligated to Each Other Beyond Your Termination and Departure on the Departure Date, You Have Agreed to Comply With Certain Restrictions and Transport America Has Offered to Provide You With the Following Benefits
12/34/56