Document:

Omnibus Consent and Amendment No. 1 to Third Amended Receivables Agreement

 Exhibit 10.1 
 OMNIBUS CONSENT AND AMENDMENT NO. 1 TO THIRD AMENDED AND 
 RESTATED RECEIVABLES PURCHASE AGREEMENT,
AMENDMENT NO. 4 TO 
 RECEIVABLES SALE AGREEMENT AND AMENDMENT NO. 1 TO PERFORMANCE 
 UNDERTAKING 
 THIS OMNIBUS
CONSENT AND AMENDMENT (this “Consent and Amendment”) is entered into as of September 25, 2008 by and among: 
 (a) Yellow Roadway Receivables Funding Corporation, a Delaware corporation (the “Seller” or “YRRFC”), 
 (b) YRC Worldwide Inc., a Delaware corporation (the “Performance Guarantor”), 
 (c) JPMorgan Chase Bank, N.A., SunTrust Bank, Wachovia Bank, National Association, and ABN AMRO Bank, N.V. (each of the foregoing a
“Committed Purchaser”), 
 (d) Falcon Asset Securitization Company LLC, Three Pillars Funding LLC and
Amsterdam Funding Corporation (each of the foregoing, a “Conduit”), 
 (e) YRC Assurance Co. Ltd., an
exempted company incorporated with limited liability under the laws of Bermuda, individually and as agent for itself (together with its successors and permitted assigns and in such latter capacity, a “Co-Agent”), 

(f) Wachovia Bank, National Association, as letter of credit issuer (the “LC Issuer”), 
 (g) SunTrust Robinson Humphrey, Inc., Wachovia Bank, National Association, ABN AMRO Bank, N.V., and JPMorgan Chase Bank, N.A., as
“Co-Agents,” 
 (h) JPMorgan Chase Bank, N.A., as administrative agent for the Groups (together with
its successors and permitted assigns and in such capacity, the “Administrative Agent” and together with the Co-Agents, and their respective successors and permitted assigns, the “Agents”), 

(i) Yellow Transportation, Inc., an Indiana corporation (“YTI”), Roadway Express, Inc., a Delaware corporation
(“REI”), USF Reddaway, Inc., an Oregon corporation (“Reddaway”), and USF Holland, Inc., a Michigan corporation (“Holland” and, together with YTI, REI and Reddaway, the
“Current Originators”), 
 with respect to (i) that certain Third Amended and Restated Receivables Purchase Agreement, dated as
of April 18, 2008, among the Seller, the Committed Purchasers, the Conduits, LC Issuer and the Agents (the “Existing RPA”), (ii) that certain Amended and Restated Receivables Sale Agreement, dated as
of May 24, 2005, by and between the Current Originators, as sellers, and 

  

 1 

 
YRRFC, as purchaser, as amended from time to time (the “Existing RSA”), and (iii) that certain Performance Undertaking, dated as
of April 18, 2008, executed by the Performance Guarantor in favor of YRRFC and its successors and permitted assigns (the “Existing Undertaking”). 
 FOR GOOD AND VALUABLE CONSIDERATION, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 1. Defined Terms. Capitalized terms used herein and not otherwise defined shall have their meanings as attributed to such terms in
the Existing RPA or, if not defined therein, the Existing RSA or the Existing Undertaking, as applicable. 
 2. Consent. Each of the
parties hereto consents to the merger of YTI with and into REI, with the survivor being REI which shall first be renamed “Yellow Roadway Corp.” and shortly thereafter, “YRC Inc.” (the “Merger”). Each of
the parties hereto (i) further agrees that the Merger and the foregoing related name changes shall not give rise to a Potential Default or an Event of Default under the Existing RSA or a Potential Servicer Default or Servicer Default under the
Existing RPA, and (ii) waives any breach of any covenant, representation or warranty under either the Existing RPA or the Existing RSA that otherwise arises as a result of the consummation of the Merger and the foregoing related name changes.

 3. Amendments to RPA and RSA; Waiver. 
 (a) Effective as of the date of this Consent and Amendment, the definition of “Change of Control” in the Existing RPA is hereby amended and restated in its entirety to read as follows:

 “Change of Control” means (i) any Person or Persons acting in concert shall acquire beneficial
ownership (within the meaning of Rule 13d-3 of the Securities and Exchange Commission under the Securities Exchange Act of 1934) of 20% or more of the outstanding shares of voting stock of YRC Worldwide Inc.; or (ii) during any period of twelve
(12) consecutive months, commencing before or after the date hereof, individuals who at the beginning of such twelve-month period were directors of YRC Worldwide Inc. shall cease for any reason to constitute a majority of the board of directors
of YRC Worldwide Inc.; or (iii) YRC Worldwide Inc. shall cease to own, directly or indirectly, all of the outstanding shares of voting stock of the Seller on a fully diluted basis; or (iv) YRC Worldwide Inc. shall cease to own, directly or
indirectly, all of the outstanding shares of voting stock of each Originator on a fully diluted basis. 
 (b) Effective as of the date of
this Consent and Amendment, the following new definitions are hereby inserted into Exhibit I to the Existing RPA in their appropriate alphabetical order: 
 “Accounting Based Consolidation Event” means the consolidation, for financial and/or regulatory accounting purposes, of all or any portion of the assets and liabilities of any Conduit that are
subject to this Agreement or any other Transaction Document with all or any portion of the assets and liabilities of an Affected Entity. An Accounting Based Consolidation Event shall be deemed to 

  

 2 

 
occur on the date any Affected Entity shall acknowledge in writing that any such consolidation of the assets and liabilities of a Conduit shall occur.

 “Affected Entity” means (i) any Funding Source, (ii) any agent, administrator or manager
of a Conduit, or (iii) any bank holding company in respect of any of the foregoing. 
 (c) Effective as of the date of this Consent and
Amendment, Section 8.2 of the Existing RPA is hereby amended and restated in its entirety to read as follows: 
 Section 8.2. Increased Cost and Reduced Return; Accounting Based Consolidation Event. 
 (a) If after the
date hereof, any Affected Entity shall be charged any fee, expense or increased cost on account of the adoption of any applicable law, rule or regulation (including any applicable law, rule or regulation regarding capital adequacy), any accounting
principles or any change therein in any of the foregoing, or any change in the interpretation or administration thereof by the Financial Accounting Standards Board (“FASB”), any governmental authority, any central bank or any
comparable agency charged with the interpretation or administration thereof, or compliance with any request or directive (whether or not having the force of law) of any such authority or agency (a “Regulatory Change”):
(i) which subjects any Affected Entity to any charge or withholding on or with respect to this Agreement, any Funding Agreement or an Affected Entity’s obligations under this Agreement or a Funding Agreement, or on or with respect to the
Receivables, or changes the basis of taxation of payments to any Affected Entity of any amounts payable under this Agreement or any Funding Agreement (except for changes in the rate of tax on the overall net income of an Affected Entity) or
(ii) which imposes, modifies or deems applicable any reserve, assessment, insurance charge, special deposit or similar requirement against assets of, deposits with or for the account of an Affected Entity, or credit extended by an Affected
Entity pursuant to this Agreement or a Funding Agreement or (iii) which imposes any other condition the result of which is to increase the cost to an Affected Entity of performing its obligations under this Agreement or a Funding Agreement, or
to reduce the rate of return on an Affected Entity’s capital as a consequence of its obligations under this Agreement or a Funding Agreement, or to reduce the amount of any sum received or receivable by an Affected Entity under this Agreement
or a Funding Agreement or to require any payment calculated by reference to the amount of interests or loans held or interest received by it, then, upon demand by the applicable Co-Agent, the Seller shall pay to such Co-Agent, for the benefit of the
relevant Affected Entity, such amounts charged to such Affected Entity or compensate such Affected Entity for such reduction. For the avoidance of doubt, if FASB Interpretation No. 46R, or any other change in accounting standards or the
issuance of any other pronouncement, release or interpretation, causes or requires the consolidation of all or a portion of the assets and liabilities of any Conduit or the Seller with the assets and liabilities of any Agent, any Person or any other
Affected Entity, such event shall constitute a circumstance on which such Affected Entity may base a claim for reimbursement under this Section. 
  

 3 

 (b) If after the date hereof, any Accounting Based Consolidation Event shall occur which
is not the result of a Regulatory Change, then, upon demand by any Co-Agent, Seller shall pay to such Co-Agent, for the benefit of the relevant Affected Entity, such amounts as such Affected Entity reasonably determines will compensate
or reimburse such Affected Entity for any resulting (i) fee, expense or increased cost charged to, incurred or otherwise suffered by such Affected Entity, (ii) reduction in the rate of return on such Affected Entity’s capital or
reduction in the amount of any sum received or receivable by such Affected Entity, or (iii) internal capital charge or other imputed cost determined by such Affected Entity to be allocable to Seller or the transactions contemplated in this
Agreement in connection therewith; provided, however, that in no event may any Affected Entity (or the applicable Co-Agent on its behalf) claim or receive reimbursement or compensation for amounts under this Section 8.2(b) that
would result in its total compensation (inclusive of Discount and fees) exceeding the total compensation that would have been payable to such Affected Entity immediately prior to such Accounting Based Consolidation Event if it were a Committed
Purchaser purchasing or committing to purchase Receivable Interests pursuant to Section 2.2 of this Agreement. Amounts under this Section 8.2(b) may be demanded at any time without regard to the timing of issuance of any financial
statement by Company or by any Affected Entity. 
 (c) Payment of any sum pursuant to this Section 8.2 shall be made by
the Seller to the applicable Co-Agent, for the benefit of the relevant Affected Entity, not later than ten (10) days after any such demand is made. A certificate of any Affected Entity, signed by an authorized officer claiming compensation
under this Section 8.2 and setting forth in reasonable detail the additional amount to be paid for its benefit and explaining the manner in which such amount was determined shall be presumptive evidence of the amount to be paid, absent manifest
error. Amounts under this Section 8.2 may be demanded at any time without regard to the timing of issuance of any financial statement by a Conduit or any Affected Entity. 
 (d) Effective as of the date of this Consent and Amendment, the following new Section 10.4 is hereby inserted into the Existing RPA: 
 Section 10.4. Federal Reserve. Notwithstanding any other provision of this Agreement to the contrary, any Committed Purchaser
may at any time pledge or grant a security interest in all or any portion of its rights (including, without limitation, any Receivable Interest and any rights to payment of Capital and Yield) under this Agreement to secure obligations of such
Committed Purchaser to a Federal Reserve Bank, without notice to or consent of the Seller, any other Purchaser or any Agent; provided that no such pledge or grant of a security interest shall release a Committed Purchaser from any of
its obligations hereunder, or substitute any such pledgee or grantee for such Committed Purchaser as a party hereto. 
  

 4 

 (e) Any Event of Default or Potential Event of Default under the Existing RSA, or a Potential Servicer
Default or Servicer Default under the Existing RPA, that would arise as a result of changes in the board of directors of any Current Originator prior to the date hereof, is hereby expressly waived. 
 (f) Effective upon the consummation of the Merger, the definition of the term “Originator” in the Existing RPA is hereby amended
and restated so that such definition shall read in its entirety as follows: 
 “Originator” means any
of (a) Yellow Roadway Corp., a Delaware corporation formerly known as Roadway Express, Inc. (“REI”) and successor by merger of Yellow Transportation, Inc. with and into REI, (b) USF Reddaway Inc., an Oregon
corporation, and (c) USF Holland Inc., a Michigan corporation. 
 (g) Effective upon the consummation of the Merger, the definition of
the term “Existing Originator” in the Existing RSA is hereby amended so that such term shall read in its entirety and mean as follows (and any inconsistent definition in the Existing RSA is hereby superseded): 
 “Existing Originators” means Yellow Roadway Corp., a Delaware corporation formerly known as Roadway Express, Inc.
(“REI”) and successor by merger of Yellow Transportation, Inc. with and into REI. 
 (h) Effective upon the
consummation of the Merger, the first recital in the Existing Undertaking is hereby amended and restated so that such recital shall read in its entirety as follows: 
 Yellow Roadway Corp, a Delaware corporation as successor by merger to Yellow Transportation, Inc., an Indiana corporation, and Roadway
Express, Inc., a Delaware corporation, USF Reddaway Inc., an Oregon corporation, USF Holland Inc., a Michigan corporation (each of the foregoing, an “Originator” and collectively, the “Originators”),
and Recipient have entered into an Amended and Restated Receivables Sale Agreement, dated as of May 24, 2005 (as amended, restated or otherwise modified from time to time, the “Sale Agreement”), pursuant to which
(a) the Originators are selling to Recipient their respective right, title and interest in their Receivables and Related Security subject to the terms and conditions contained therein and (b) the Originators have agreed to act as
Sub-Servicers for the receivables originated by them. 
 (i) Effective upon the consummation of the Merger and the change of name from
“Yellow Roadway Corp.” to “YRC Inc.”, prior references to Yellow Roadway Corp. in the Existing RSA, the Existing RPA and the Existing Undertaking shall mean and refer to YRC Inc., a Delaware corporation. 
 4. Effective Date. This Consent and Amendment shall become effective as of the date hereof when the Administrative Agent has received counterparts
of this Consent and Amendment, duly executed by each of the parties hereto. 
  

 5 

 5. Ratification. Each of the Existing RPA , the Existing RSA and the Existing Undertaking, as
modified hereby, is hereby ratified, approved and confirmed in all respects. 
 6. Reference to Agreement. From and after the
effective date hereof, each reference in the Existing RPA or Existing RSA to “this Agreement” or “this Undertaking,” as the case may be, “hereof”, or “hereunder” or words of like import, and all references to
the Existing RPA, the Existing RSA and the Existing Undertaking, as the case may be, in any and all agreements, instruments, documents, notes, certificates and other writings of every kind and nature shall be deemed to mean the Existing RPA, the
Existing RSA or the Existing Undertaking, as applicable, as modified by this Consent and Amendment. 
 7. Costs and Expenses. The
Seller agrees to pay all reasonable costs, fees, and out-of-pocket expenses (including reasonable attorneys’ fees and disbursements) incurred by the Agents in connection with the preparation, execution and enforcement of this Consent and
Amendment. 
 8. CHOICE OF LAW. THIS CONSENT AND AMENDMENT SHALL BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK (INCLUDING SECTION
5-1401 OF THE GENERAL OBLIGATIONS LAW) WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES. 
 9. Execution in Counterparts. This Consent and
Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same
agreement. 
  

 6 

 IN WITNESS WHEREOF, the parties hereto have caused this Consent and Amendment to be
executed and delivered by their duly authorized officers as of the date hereof. 
  

			
	YELLOW ROADWAY RECEIVABLES FUNDING CORPORATION
		
	By:	 	 /s/ Christina E. Wise

	Name:	 	Christina E. Wise
	Title:	 	President and Chief Executive Officer
	
	YRC WORLDWIDE INC., AS PERFORMANCE GUARANTOR
		
	By:	 	 /s/ Christina E. Wise

	Name:	 	Christina E. Wise
	Title:	 	Vice President - Treasurer
	
	YELLOW TRANSPORTATION, INC.
		
	By:	 	 /s/ Kenneth P. Bowman

	Name:	 	Kenneth P. Bowman
	Title:	 	Vice President - Finance
	
	ROADWAY EXPRESS, INC.
		
	By:	 	 /s/ Kenneth P. Bowman

	Name:	 	Kenneth P. Bowman
	Title:	 	Vice President - Finance
	
	USF REDDAWAY INC.
		
	By:	 	 /s/ Tom Palmer Jr.

	Name:	 	Tom Palmer Jr.
	Title:	 	VP, Finance
	
	USF HOLLAND INC.
		
	By:	 	 /s/ Daniel L. Olivier

	Name:	 	Daniel L. Olivier
	Title:	 	Vice President, Finance

  

 7 

			
	YRC ASSURANCE CO. LTD., AS AN UNCOMMITTED PURCHASER AND AS YRCA
AGENT
		
	By:	 	 /s/ Brenda Stasiulis

	Name:	 	Brenda Stasiulis
	Title:	 	Financial Officer
	
	FALCON ASSET SECURITIZATION COMPANY LLC
		
	BY:	 	JPMORGAN CHASE BANK, N.A., ITS ATTORNEY-IN- FACT
		
	By:	 	 /s/ John M. Kuhns

	Name:	 	John M. Kuhns
	Title:	 	Executive Director
	
	SUNTRUST ROBINSON HUMPHREY, INC., AS THREE PILLARS AGENT
		
	By:	 	 /s/ Joseph R. Franke

	Name:	 	Joseph R. Franke
	Title:	 	Director
	
	THREE PILLARS FUNDING LLC
		
	By:	 	 /s/ Doris J. Hearn

	Name:	 	Doris J. Hearn
	Title:	 	Vice President
	
	AMSTERDAM FUNDING CORPORATION
		
	By:	 	 /s/ Jill A. Russo

	Name:	 	Jill A. Russo
	Title:	 	Vice President

  

 8 

			
	JPMORGAN CHASE BANK, N.A., AS A COMMITTED PURCHASER, AS FALCON AGENT
AND AS ADMINISTRATIVE AGENT
		
	By:	 	 /s/ John M. Kuhns

	Name:	 	John M. Kuhns
	Title:	 	Executive Director
	
	SUNTRUST BANK, AS A COMMITTED PURCHASER
		
	By:	 	 /s/ Tesha Winslow

	Name:	 	Tesha Winslow
	Title:	 	Portfolio Manager
	
	WACHOVIA BANK, NATIONAL ASSOCIATION, AS A COMMITTED PURCHASER, AS LC ISSUER
AND AS WACHOVIA AGENT
		
	By:	 	 /s/ William P. Rutkowski

	Name:	 	William P. Rutkowski
	Title:	 	Vice President
	
	ABN AMRO BANK N.V., AS A COMMITTED PURCHASER AND AS AMSTERDAM
AGENT
		
	By:	 	 /s/ David J. Donofrio

	Name:	 	David J. Donofrio
	Title:	 	Director
		
	By:	 	 /s/ Christopher M. Burke

	Name:	 	Christopher M. Burke
	Title:	 	Vice President

  

 9Director Compensation Plan

 EXHIBIT 10.2 
 YRC WORLDWIDE INC. 
 DIRECTOR
COMPENSATION PLAN 
 July 14, 2005 
 This Director Compensation Plan (this “Plan”) of YRC Worldwide Inc., a Delaware corporation (the “Company”), amends, restates and replaces the Directors Compensation Plan approved on
December 9, 2004, in its entirety, and summarizes the director compensation of the Company. 
  

	1.	DEFINITIONS, ADMINISTRATION AND CONSTRUCTION 

  

	 	(a)	The following capitalized terms used in this Plan shall have the following meanings given to each of them in this Section 1(a): 

 “Annual Governance Cycle” means the period from the Board meeting immediately following the Company’s Annual Meeting of Stockholders until
the next such meeting the following year; 
 “Board” means the Board of Directors of the Company; 
 “Committee” means a committee of the Board; 
 “Common Stock” means Company Common Stock, $1.00 par value per share; 
 “Compensation Committee” means the
Compensation Committee of the Board; 
 “Equity Plan” means the Company’s 2004 Long-Term Incentive and Equity Award Plan or any
other equity plan of the Company that permits the award of Common Stock or Common Stock derivatives to Participants pursuant to this Plan; and 
 “Participant” means a director of the Company who is not an employee of the Company. 
 “Secretary” means the
Secretary of the Company. 
  

	 	(b)	 The Compensation Committee shall administer this Plan. The Compensation Committee may adopt rules for the administration of this Plan as it may deem necessary or
advisable. The Compensation Committee shall administer this Plan in accordance with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), for deferrals made after December 31, 2004. The Compensation
Committee has full and absolute discretion in the exercise of each and every aspect of the rights, power, authority and duties retained or granted it under this Plan, including the authority to determine all facts, to interpret this Plan, to apply
the terms of this Plan to the facts determined, to make decisions based upon those facts and to make any and all other decisions required of it by 

 
this Plan, such as the right to benefits, the correct amount and form of benefits, the determination of any appeal, the review and correction of the actions
of any prior administrative committee, and the other rights, powers, authority and duties specified in this paragraph and elsewhere in this Plan. Notwithstanding any provision of law, or any explicit or implicit provision of this document, any
action taken, or finding, interpretation, ruling or decision made by the Compensation Committee in the exercise of any of its rights, powers, authority or duties under this Plan shall be final and conclusive as to all parties, including without
limitation all Participants, former Participants and beneficiaries, regardless of whether the Compensation Committee or one or more of its members may have an actual or potential conflict of interest with respect to the subject matter of the action,
finding, interpretation, ruling or decision. No final action, finding, interpretation, ruling or decision of the Compensation Committee shall be subject to de novo review in any judicial proceeding. No final action, finding, interpretation, ruling
or decision of the Compensation Committee may be set aside unless it is held to have been arbitrary and capricious by a final judgment of a court having jurisdiction with respect to the issue. 
  

	 	(c)	Except as expressly stated to the contrary, references in this plan to “including” mean “including, without limitation” and to “persons” mean natural
persons and legal entities. 

  

	2.	RETAINERS. 

  

	 	(a)	From time to time, the Board (or at its direction, the Compensation Committee) may set retainers for Participants for their service as a member of the Board or one or more of its
Committees. Retainers for a Participant, including those for Committee chairs, may vary from those of other Participants. The current retainers for Participants are listed on Exhibit A. 

  

	 	(b)	Pursuant to this Plan and the Equity plan, at the beginning of each Annual Governance Cycle, each Participant shall be granted an award of shares of Common Stock equal in value to
50% of the then applicable level of annual Board and Committee retainers. For each Annual Governance Cycle, a Participant may elect to receive more than 50% and up to 100% of the then applicable level of annual Board and Board Committee retainers in
Common Stock. If the Participant so elects, the elected additional percentage of annual Board and Committee retainers shall be issued pursuant to this Plan and the Equity Plan to the Participant at the beginning of the Annual Governance Cycle for
which the election is made. A form of the annual election is included in Exhibit B. 

  

	 	(c)	 For the purposes of determining the number of shares to issue pursuant to this Section 2 and any election pursuant to Section 3, the value of the
Company’s Common Stock shall be determined in accordance with the Equity Plan. If the Equity Plan does not specify a method to determine the value, the number of 

  

 -2- 

 
shares to be issued pursuant to this Section 2 shall be determined by reference to the closing price of the Common Stock on the date of issuance.

  

	 	(d)	Annual retainers are intended to compensate Participants for each Annual Governance Cycle. A Participant who joins the Board during an Annual Governance Cycle shall receive annual
retainers that are pro-rated based on the number of whole or partial months of an Annual Governance Cycle in which the Participant first serves. The Company shall pay the joining Participant these retainers in cash in quarterly installments until
the beginning of the next Annual Governance Cycle in accordance with Section 2(d). 

  

	 	(d)	The Company shall pay to each Participant in cash any amount of retainers that are not paid to the Participant in Common Stock pursuant to this Section 2. The Company shall pay
the cash portion of the retainers to each Participant in four quarterly installments. The Company shall pay each installment to the Participant on the date of the first regular meeting of the Board for that quarter. If no such regular meeting is
held during a quarter, the Company shall pay the Participant the installment on the last day of the calendar quarter. 

  

	3.	MEETING FEES. 

  

	 	(a)	From time to time, the Board (or at its direction, the Compensation Committee) may set meeting fees for Participants for their attendance at meetings of the Board or one or more of
its Committees. The amount of the meeting fees for a Participant, including those for Committee chairs, may vary from those of other Participants. The current meeting fees for Participants are listed on Exhibit A. 

  

	 	(b)	Unless a valid deferral election is made pursuant to Section 4, meetings fees shall be due and payable to each Participant upon the Participant’s attendance at the
applicable meeting. 

  

	 	(c)	Meeting fees shall be paid in cash. 

  

	3.	EQUITY GRANTS. 

 From time to time, the Board (or at its direction, the Compensation Committee) may make grants of Common Stock or Common Stock derivatives (such as stock options or restricted unit awards) to Participants as compensation for their service
on the Board with such terms and conditions as are stated in the grant. The grant shall be made pursuant to this Plan and the terms of the Equity Plan. The current equity grants are summarized on Exhibit A. 
  

	4.	COMPENSATION DEFERRAL. 

  

	 	(a)	 Pursuant to a written election, a Participant may defer receipt of all of the Participant’s retainer fees that the Participant elects to receive in stock
(under 

  

 -3- 

 
Section 2) or all of the meeting fees (under Section 3), in each case, with respect to a year, until the Participant’s termination of service
on the Board (whether by death, disability, resignation, removal, failure to be reelected or otherwise) or until the earlier of January 1 in a year that the Participant specifies or the Participant’s termination of service with the Board.
The Company shall maintain an account for each Participant to record the amount of compensation so deferred and shall provide the Participant with an account statement at least annually. 
  

	 	(b)	A Participant must make a written deferral election for the following year prior to the beginning of each calendar year. Participants who have become a director during a calendar
year must make an election for the remaining portion of that year within 30 days of their election or appointment as a director. Initial elections with respect to this Plan must be made within 30 days of its adoption. A form of the annual election
is included in Exhibit B. This election should be delivered to the Secretary. 

  

	 	(c)	Upon the termination of the deferral, the Company shall issue and pay to the Participant the deferred shares, deferred dividends and additions on dividends and deferred cash meeting
fees in the Participant’s deferred account within a reasonable time and in accordance with the Code and regulations promulgated thereunder. 

  

	 	(d)	If the Company declares a dividend on its stock, the Company shall create an account on the books of the Company reflecting the cash value of the dividend based upon the number of
shares reflected in Participant’s stock account. On December 31 of each year, an annual addition shall be made to the Participant’s dividend account (for the purpose of simulating an investment return) in accordance with the formula
as follows: 

 X = A x B 
 Where 
 X is the amount of the annual addition 
 A is the discount interest rate on the first new 12 month U.S. Treasury Bills auctioned in such year. 
 B is the sum of the balances in the account on the last day of each month of such year divided by 12. 
 If payment is made by reason of death and the payment is made in a month other than January, a pro rata addition to the account shall be made immediately
prior to payment in accordance with the formula as follows: 
 Y = C x D 
 Where 
  

 -4- 

 Y is the amount of the pro rata addition. 
 C is the discount interest rate on the first new 12 month U.S. Treasury Bills auctioned in such year. 
 D is the sum of the balances in the account on the last day of each month preceding payment in such year divided by 12. 
  

	 	(e)	The Company shall not pay any interest or any other addition on cash meeting fees deferred under the terms of this Plan. 

  

	 	(f)	If a Participant dies, the Company shall pay any amounts deferred under this Plan to the beneficiary or beneficiaries, if any, that the Participant designates to the Secretary in
writing during the Participant’s lifetime. During his/her lifetime, the Participant may revoke or change any designation of beneficiary by delivering the revocation or designation in writing to the Secretary. If no beneficiary is designated or
survives the Participant, then the accounts shall be issued and paid to the Participant’s personal representative. 

  

	 	(g)	The Participant understands that all stock and cash deferred hereunder (i.e., the balance of his/her accounts) are unfunded, will be represented by appropriate bookkeeping
entries and will be paid from the general assets of the Company when due pursuant to the terms of this Plan. Any such amounts due the Participant shall be unsecured, general obligations of the Company. 

  

	 	(h)	Stock and cash deferred under this Plan, and any and all rights thereto, shall not be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge,
encumbrance, charge, garnishment, execution, or levy of any kind, either voluntary or involuntary. Any attempt to anticipate, alienate, sell, transfer, assign, pledge, encumber, charge or otherwise dispose of any rights to amounts deferred or
payable hereunder shall be void. 

  

	5.	GENERAL 

  

	 	(a)	None of this Plan, the Equity Plan, the grant of any award under this Plan or the Equity Plan or any other action taken pursuant to this Plan or the Equity Plan shall constitute or
be evidence of any agreement or understanding, express or implied, that the Company will retain a Participant for any period of time or at any particular rate or amount of compensation. 

  

	 	(b)	Except by the laws of decent and distribution in the event of a Participant’s death, the rights and benefits of this Plan may not be assigned or otherwise transferred. A
Participant shall cease to be a Participant under this Plan upon the Participant’s termination of his or her directorship with the Company whether by death, disability, retirement, resignation or removal. 

  

	 	(c)	Any notice to the Company that this Plan requires shall be in writing, addressed to the Secretary and be effective when the Secretary receives the notice. 

 

 -5- 

	 	(d)	This Plan and any determination or action taken respecting this Plan shall be governed by and construed in accordance with the laws of the State of Delaware, without reference to
its law of conflicts of law. 

  

	6.	EQUITY OWNERSHIP GUIDELINES 

 Each Participant shall own shares of Company common stock or restricted stock units to receive shares of Company common stock equal to three times the
annual board retainer within three years of July 14, 2005 or the date the Participant becomes an outside director of the Board. 
  

 -6- 

 Exhibit A 
 Board Retainers as of July 17, 2008 
 Annual retainer = $50,000 
 Annual retainer for Finance Committee Chair = $5,000 
 Annual retainer for International Committee Chair = $7,500 
 Annual retainer for Governance Committee Chair = $5,000 
 Annual retainer for Compensation Committee Chair = $7,500 
 Annual retainer for Audit/Ethics Committee Chair = $10,000 
 Annual retainer for Committee members = $0

 Meeting fees as of July 17, 2008 
 $1,500 for each Board meeting attended 
 $1,500 for each Committee meeting attended, including each meeting
attended of the board of directors (or similar managing body) of any foreign entity, including any international joint venture to which the Company is a party, as designated by the Board 
 Equity grants as of July 14, 2005 
 Restricted stock units equal in value to $77,500 (using the reported closing price on the NASDAQ Stock Market on the date of grant) vesting 1/3 of the units on each of the 1st, 2nd and 3rd anniversaries of the date of grant, which grant is to be made on the first meeting of the Board following the annual meeting of stockholders of the Company 

 Exhibit B 
 ANNUAL DIRECTOR COMPENSATION ELECTION FORM 
 To the Secretary of YRC Worldwide Inc.: 
 I wish to receive     % of Board and Committee chair retainers in the form of
YRC Worldwide Inc. stock for the period of                      to
                     (the Annual Governance Cycle). (Must select at least 50%, if left blank or less than 50% selected, we will assume 50%
is your selection). 
  

	            	I hereby elect to defer all of my board and chairperson retainer fees for          (calendar year). This election supercedes any prior
election that I have may made for that period. (If you do not mark the box, we will assume that you do not wish to defer your retainer fees. If you mark the box but have not elected above to receive 100% of your retainers in stock, we will assume
that you intended to mark 100% of your retainers to be received in stock even if you indicated to the contrary.) 

  

	            	I hereby elect to defer all of my attendance fees for          (calendar year). This election supercedes any prior election that I
have may made for that period. (If you do not mark the box, we will assume that you do not wish to defer your attendance fees. Please remember that deferred attendance fees will not earn interest or other returns during the deferral.)

 The deferrals marked above shall end as selected below: 
  

	            	Termination of my service with Board (whether by death, disability, resignation, removal, failure to be reelected or otherwise) 

  

	            	On the earlier of January 1,          (enter year) or termination of my service with the Board 

 

			
	 	  	 
	(Print name)	  	(signature)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00149-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00149-of-00352.parquet"}]]