Exhibit 10.3


 


SUMMARY OF COMPENSATION ARRANGEMENTS WITH
NAMED EXECUTIVE OFFICERS


 


On October 31, 2008, the Executive Compensation
Committee of J.B. Hunt Transport Services, Inc. (the “Company”) approved
the following base salaries for Jerry Walton, Paul Bergant and Craig
Harper.  Also, on October 31, 2008,
the Compensation Committee of the Company recommended and independent members
of the Board of Directors approved the following base salaries for Wayne
Garrison and Kirk Thompson.  All base
salaries were effective as of October 31, 2008.  The Compensation Committee approved the
following other compensation amounts (effective January 1, 2009) as
indicated:


 


	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  All Other

  	
   

  
	
   

  	
   

  	
  Base

  	
   

  	
  Bonus

  	
   

  	
  Compensation

  	
   

  
	
  Named Executive Officer

  	
   

  	
  Salary

  	
   

  	
  ($)

  	
   

  	
  ($)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Wayne Garrison

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Chairman of the
  Board

  	
   

  	
  $

  	
  530,000

  	
   

  	
  (1)

  	
   

  	
  (2), (3)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Kirk Thompson

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  President and
  CEO

  	
   

  	
  $

  	
  695,000

  	
   

  	
  (1)

  	
   

  	
  (2), (3)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Jerry Walton

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  EVP,
  Finance/Administration and CFO

  	
   

  	
  $

  	
  388,700

  	
   

  	
  (1)

  	
   

  	
  (2), (3)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Craig Harper

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  EVP, Operations
  and COO

  	
   

  	
  $

  	
  360,000

  	
   

  	
  (1)

  	
   

  	
  (2), (3)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Paul Bergant

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  EVP, Marketing,
  CMO, President of JBI

  	
   

  	
  $

  	
  345,000

  	
   

  	
  (1)

  	
   

  	
  (2), (3)

  	
   

  



 






	
  (1)

  	
  The Company has a performance-based bonus program that is related to
  the Company’s earnings per share (EPS) for calendar year 2009. According to
  the 2009 EPS bonus plan, each of the Company’s named executive officers may
  earn a bonus ranging from zero to 220% of his annual base salary. Based on
  the Company’s current expectations for 2009 EPS, each named executive officer
  can be projected to earn a bonus equal to between zero and 50% of his base
  salary.

  
	
   

  	
   

  
	
  (2)

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

  
	
   

  	
   

  
	
  (3)

  	
  The Company has a 401(k) retirement plan that includes matching
  contributions on behalf of each of the named executive officers. The plan is
  expected to pay each named executive officer approximately $6,000 during
  2009.