Exhibit 10.2

 

SUMMARY OF COMPENSATION ARRANGEMENTS WITH NAMED EXECUTIVE OFFICERS

 

On October 27, 2005, the Compensation Committee (the “Committee”) our Board of
Directors approved the following base salaries (effective as of October 30,
2005) and the following other compensation amounts (effective January 1, 2006)
as indicated:

 

 

 

 

 

 

 

 

 

Restricted

 

 

 

 

 

Base

 

 

 

Other Annual

 

Stock

 

 

 

Named Executive Officer

 

Salary

 

Bonus

 

Compensation

 

(No. of Shares)

 

All Other

 

 

 

($)

 

($)

 

($)

 

(3)

 

($)

 

 

 

 

 

 

 

 

 

 

 

 

 

Wayne Garrison

 

 

 

 

 

 

 

 

 

 

 

Chairman of the Board

 

$

500,000

 

 

(1)

 

(2)

20,000

 

 

(4) 

 

 

 

 

 

 

 

 

 

 

 

 

Kirk Thompson

 

 

 

 

 

 

 

 

 

 

 

President and CEO

 

600,000

 

 

(1)

 

(2)

35,000

 

 

(4)

 

 

 

 

 

 

 

 

 

 

 

 

Jerry Walton

 

 

 

 

 

 

 

 

 

 

 

EVP, Finance/

 

 

 

 

 

 

 

 

 

 

 

Administration and CFO

 

355,000

 

 

(1)

 

(2)

10,000

 

 

(4)

 

 

 

 

 

 

 

 

 

 

 

 

Paul Bergant

 

 

 

 

 

 

 

 

 

 

 

EVP, Marketing, CMO,

 

 

 

 

 

 

 

 

 

 

 

President of Intermodal

 

315,000

 

 

(1)

 

(2)

10,000

 

 

(4)

 

 

 

 

 

 

 

 

 

 

 

 

Craig Harper

 

 

 

 

 

 

 

 

 

 

 

EVP, Operations and COO

 

305,000

 

 

(1)

 

(2)

17,000

 

 

(4)

 

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(1)

We have a performance-based bonus program that is related to our earnings per
share (EPS) for calendar year 2006. According to the 2006 EPS bonus plan, each
of our named executive officers may earn a bonus ranging from 5% to 220% of his
annual base salary. Based on our current expectations for 2006 EPS, each named
executive officer can be projected to earn a bonus equal to between 25% and 100%
of his base salary.

 

 

(2)

We will reimburse each named executive officer up to $10,000 for actual expenses
incurred for tax, legal and estate plan preparation services.

 

 

(3)

The Committee awarded shares of restricted stock to each named executive officer
as indicated. The restricted shares vest over various periods ranging up to ten
years.

 

 

(4)

We have a 401(k) retirement plan that includes matching contributions on behalf
of each of the named executive officers. We expect to contribute to the plan on
behalf of each named executive officer approximately $6,000 during 2006.

 

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