Document:

EX-4.1

 Exhibit 4.1 

REGISTRATION RIGHTS AGREEMENT 

This Registration Rights Agreement (this “Agreement”) is made and entered into as of December 22, 2013, by and among YRC
Worldwide Inc., a Delaware corporation (the “Company”), and each of the investors listed on the Purchasers’ signature page hereto (each a “Purchaser”, and collectively, the “Purchasers”). The
Company and the Purchasers are sometimes referred to herein collectively as the “Parties” and each of them individually, as a “Party”). 

This Agreement is made pursuant to (i) several Stock Purchase Agreements, dated as of the date hereof among the Company and the
respective Purchasers thereunder (each a “Purchase Agreement” and collectively the “Purchase Agreements”) and (ii) several Exchange Agreements, dated as of the date hereof among the Company and the respective
Purchasers thereunder (each, an “Exchange Agreement” and collectively the “Exchange Agreements”). The Purchase Agreements and Exchange Agreements are referred to collectively herein as the “Share
Acquisition Agreements.”
 NOW, THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good
and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Company and each of the Purchasers agree as follows: 

1. Definitions. As used in this Agreement, the following terms shall have the following meanings: 

“Advice” shall have the meaning set forth in Section 6(e). 

“Affiliate” means, with respect to any person, any other person which directly or indirectly Controls, is Controlled by, or
is under common Control with, such person. 
 “Agreement” shall have the meaning set forth in the preamble hereto. 

“Allowable Grace Period” shall have the meaning set forth in Section 2(e). 

“Business Day” means a day, other than a Saturday or Sunday, on which banks in New York City are open for the general
transaction of business. 
 “Closing” has the meaning set forth in the Purchase Agreements. 

“Commission” means the Securities and Exchange Commission. 

“Common Stock” means the common stock of the Company, par value $0.01 per share, and any securities into which such common
stock may hereinafter be reclassified. 
 “Company” shall have the meaning set forth in the preamble hereto and also
includes the Company’s successors by merger, acquisition, reorganization or otherwise. 

 “Control,” “Controlled,” or “under common Control
with” with respect to any person, means having the ability to direct the management and affairs of such person, whether through the ownership of voting securities or otherwise, and such ability shall be deemed to exist when a person holds a
majority of the outstanding voting securities of such person 
 “Conversion Shares” shall have the meaning given to it in
the Purchase Agreements. 
 “Effective Date” means the date that the Registration Statement filed pursuant to
Section 2(a) is first declared effective by the Commission. 
 “Effectiveness Deadline” means, with respect to
the Initial Registration Statement or the New Registration Statement, ninety (90) days after the Closing; provided, however, that if the Company is notified by the Commission that the Initial Registration Statement will not be reviewed,
the Effectiveness Deadline as to such Registration Statement shall be the later of the fifth (5th) Business Day following the date that such notice is received by the Company or the Business
Day immediately prior to the Closing; provided, further, however, that if the Company is notified by the Commission that the Initial Registration Statement will be reviewed and thereafter the Company is notified that the Registration
Statement is no longer subject to further review and comments, the Effectiveness Deadline as to such Registration Statement shall be the later of the fifth (5th) Business Day following the
date on which the Company is so notified if such date precedes the first date otherwise required above or the Business Day immediately prior to the Closing; provided, further, that if (i) the Effectiveness Deadline falls on a Saturday,
Sunday or other day that the Commission is closed for business, the Effectiveness Deadline shall be extended to the next Business Day on which the Commission is open for business or (ii) the Effectiveness Deadline falls on a date on which the
Initial Registration Statement or New Registration Statement is not eligible to be declared effective under applicable rules and regulations of the Commission, the Effectiveness Deadline shall be extended to the first Business Day on which such
Initial Registration Statement or New Registration Statement, as applicable, is so eligible to be declared effective by the Commission so long as such date shall not be after ninety (90) days after the Closing. 

“Effectiveness Period” shall have the meaning set forth in Section 2(b). 

“Event” shall have the meaning set forth in Section 2(c). 

“Event Date” shall have the meaning set forth in Section 2(c). 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 “Execution Date” means the date the Purchase Agreements are executed by the parties thereto. 

“Filing Deadline” means, with respect to the Initial Registration Statement required to be filed pursuant to
Section 2(a), the third (3rd) Business Day following the Closing. 

“Grace Period” shall have the meaning set forth in Section 2(e). 

  
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 “Holder” or “Holders” means the holder or holders, as the case
may be, from time to time of Registrable Securities. 
 “Indemnified Party” shall have the meaning set forth in
Section 5(c). 
 “Indemnifying Party” shall have the meaning set forth in Section 5(c). 

“Initial Registration Statement” means the initial Registration Statement filed pursuant to Section 2(a) of this
Agreement. 
 “Liquidated Damages” shall have the meaning set forth in Section 2(c). 

“Losses” shall have the meaning set forth in Section 5(a). 

“New Registration Statement” shall have the meaning set forth in Section 2(a). 

“Person” means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture,
limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind. 

“Preferred Stock” shall have the meaning given to it in the Purchase Agreements. 

“Principal Market” means the Trading Market on which the Common Stock is primarily listed on and quoted for trading, which,
as of the Execution Date, shall be the Nasdaq Global Select Market. 
 “Proceeding” means an action, claim, suit,
investigation or proceeding (including, without limitation, an investigation or partial proceeding, such as a deposition), whether commenced or threatened. 

“Prospectus” means the prospectus included in a Registration Statement (including, without limitation, a prospectus that
includes any information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A promulgated under the Securities Act), as amended or supplemented by any prospectus supplement, with
respect to the terms of the offering of any portion of the Registrable Securities covered by a Registration Statement, and all other amendments and supplements to the Prospectus, including post-effective
amendments, and all material incorporated by reference or deemed to be incorporated by reference in such Prospectus. 
 “Purchase
Agreements” shall have the meaning set forth in the preamble hereto. 
 “Purchaser” or
“Purchasers” shall have the meaning set forth in the preamble hereto. 
 “Registrable Securities” means
all of (i) the shares of Common Stock purchased by the Purchasers pursuant to the Purchase Agreements, (ii) the Conversion Shares, (iii) shares of Common Stock issued upon the exchange (by a Purchaser or an Affiliate of a Purchaser)
of Series B Notes into Common Stock pursuant to the terms of the Exchange Agreements or 

  
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conversion of Series B Notes in accordance with the terms of the indenture governing such notes as expressly required by the provisions of a Purchase Agreement, (iv) shares of Common Stock
acquired, after the Closing, by a Holder who is an Affiliate of the Company to the extent (A) the Initial Registration Statement has not yet become effective or the Company is required to file either a New Registration Statement or Remainder
Registration Statement and such Registration Statement has not become effective or (B) the Company is allowed to include such shares in a Registration Statement pursuant to Rule 462(b) promulgated under the Securities Act, (v) Preferred
Stock to the extent necessary under the SEC rules (including Rule 415) to allow the Conversion Shares underlying the such Preferred Stock to be included in a Registration Statement and (vi) any securities issued or issuable upon any stock
split, dividend or other distribution, recapitalization or similar event with respect to the foregoing, provided, that the Holder has completed and delivered to the Company a Selling Securityholder Questionnaire; and provided, further,
that the securities described in clauses (i), (ii), (iii), (iv), (v) and (vi) of this definition shall cease to be Registrable Securities upon the earliest to occur of the following: (A) sale pursuant to a Registration Statement or
Rule 144 under the Securities Act (in which case, only such security sold shall cease to be a Registrable Security); or (B) becoming eligible for sale without restriction (including any volume restriction) under Rule 144 by Holders (in which
case only such security eligible for sale under Rule 144 without restriction shall cease to be a Registrable Securities). 

“Registration Statements” means any one or more registration statements of the Company filed under the Securities Act that
covers the resale of any of the Registrable Securities pursuant to the provisions of this Agreement (including without limitation the Initial Registration Statement, the New Registration Statement and any Remainder Registration Statements),
amendments and supplements to such Registration Statements, including post-effective amendments, all exhibits and all material incorporated by reference or deemed to be incorporated by reference in such Registration Statements. 

“Remainder Registration Statement” shall have the meaning set forth in Section 2(a). 

“Rule 144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time
to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 

“Rule 415” means Rule 415 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time
to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 

“Rule 424” means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time
to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 

“SEC Guidance” means (i) any publicly-available written or oral guidance, comments, requirements or requests of the
Commission staff and (ii) the Securities Act. 
 “SEC” means the U.S. Securities and Exchange Commission. 

  
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 “Securities Act” means the Securities Act of 1933, as amended, and the rules and
regulations promulgated thereunder. 
 “Selling Securityholder Questionnaire” means a questionnaire in the form attached as
Annex B hereto, or such other form of questionnaire as may reasonably be adopted by the Company from time to time. 
 “Series
B Notes” means the 10% Series B Convertible Senior Secured Notes due 2015 issued by the Company. 
 “Subsidiary”
means any entity in which the Company, directly or indirectly, owns capital stock or holds an equity or similar interest such that such entity is consolidated with the Company’s results of operations for accounting purposes. 

“Trading Day” means (i) a day on which the Common Stock is listed or quoted and traded on its Principal Market (other
than the OTC Bulletin Board), or (ii) if the Common Stock is not listed on a Trading Market (other than the OTC Bulletin Board or “pink sheets”), a day on which the Common Stock is traded in the over-the-counter market, as reported by the OTC Bulletin Board, or (iii) if the Common Stock is not quoted on any Trading Market (other than the “pink sheets”), a day on which the Common Stock
is quoted in the over-the-counter market as reported in the “pink sheets” by Pink Sheets LLC (or any similar organization or agency succeeding to its functions
of reporting prices); provided, that in the event that the Common Stock is not listed or quoted as set forth in (i), (ii) and (iii) hereof, then Trading Day shall mean a Business Day. 

“Trading Market” means whichever of the New York Stock Exchange, the American Stock Exchange, the NASDAQ Global Select
Market, the NASDAQ Global Market, the NASDAQ Capital Market, the OTC Bulletin Board or the “pink sheets” on which the Common Stock is listed or quoted for trading on the date in question. 

2. Registration. 
 (a) On
or prior to the Filing Deadline, the Company shall prepare and file with the Commission a Registration Statement covering the resale of all of the Registrable Securities for an offering to be made on a continuous basis pursuant to Rule 415 or, if
Rule 415 is not available for offers and sales of the Registrable Securities, by such other means of distribution of Registrable Securities as the Holders may reasonably specify (the “Initial Registration Statement”). The Initial
Registration Statement shall be on Form S-3 (except if the Company is then ineligible to register for resale of the Registrable Securities on Form S-3, in which case such registration shall be on such other form available to register for resale of
the Registrable Securities as a secondary offering) subject to the provisions of Section 2(e) and shall contain (except if otherwise required pursuant to written comments received from the Commission upon a review of such Registration
Statement) the “Plan of Distribution” section attached hereto as Annex A. If any Holder of Registrable Securities subsequently proposes to sell such Registrable Securities in a transaction not covered by such
Annex A, the Company shall use its commercially reasonable efforts to file a supplement or amendment to update the “Plan of Distributions” section to cover such intended means of distribution. Notwithstanding the

  
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registration obligations set forth in this Section 2, in the event the Commission informs the Company that all of the Registrable Securities cannot, as a result of the application of
Rule 415, be registered for resale as a secondary offering on a single registration statement, the Company agrees to promptly (i) inform each of the holders thereof and use its commercially reasonable efforts to file amendments to the Initial
Registration Statement as required by the Commission and/or (ii) withdraw the Initial Registration Statement and file a new registration statement (a “New Registration Statement”), in either case covering the maximum number of
Registrable Securities permitted to be registered by the Commission, on Form S-3 or such other form available to register for resale the Registrable Securities as a secondary offering; provided, however, that prior to filing such amendment or
New Registration Statement, the Company shall be obligated to use its commercially reasonable efforts to advocate with the Commission for the registration of all of the Registrable Securities in accordance with the SEC Guidance, including without
limitation, Section 214.02 of the Compliance & Disclosure Interpretations. Notwithstanding any other provision of this Agreement and subject to the payment of Liquidated Damages, if any SEC Guidance sets forth a limitation of the
number of Registrable Securities permitted to be registered on a particular Registration Statement as a secondary offering (and notwithstanding that the Company used commercially reasonable efforts to advocate with the Commission for the
registration of all or a greater number of Registrable Securities), unless otherwise directed in writing by a Holder as to its Registrable Securities, the number of Registrable Securities to be registered on such Registration Statement will be
reduced on a pro rata basis based on the aggregate amount of Registrable Securities (determined on an as-converted basis in the case of the Conversion Shares) held by such Holders, subject to a determination by the Commission that certain Holders
must be reduced first. In the event the Company amends the Initial Registration Statement or files a New Registration Statement, as the case may be, under clauses (i) or (ii) above, the Company will use its commercially reasonable efforts
to file with the Commission, as promptly as allowed by Commission or SEC Guidance provided to the Company or to registrants of securities in general, one or more registration statements on Form S-3 or such other form available to register for resale
those Registrable Securities that were not registered for resale on the Initial Registration Statement, as amended, or the New Registration Statement (the “Remainder Registration Statements”). 

(b) The Company shall use its commercially reasonable efforts to cause each Registration Statement to be declared effective by the Commission
as soon as practicable, but in no event earlier than the Business Day immediately prior to Closing, and, with respect to the Initial Registration Statement or the New Registration Statement, as applicable, no later than the Effectiveness Deadline
(including filing with the Commission a request for acceleration of effectiveness in accordance with Rule 461 promulgated under the Securities Act prior to the later of (i) the expiration of the five (5) Business Day period after the date
that the Company is notified (orally or in writing, whichever is earlier) by the Commission that such Registration Statement will not be “reviewed,” or not be subject to further review and the effectiveness of such Registration Statement
may be accelerated or (ii) or two the Business Days immediately prior to the Closing). The Company shall use its commercially reasonable efforts to keep each Registration Statement continuously effective under the Securities Act until the
earlier of (i) such time as all of the Registrable Securities covered by such Registration Statement have been publicly sold by the Holders or (ii) the date that all Registrable Securities covered by such Registration Statement may be sold
without restriction (including any volume restriction) under Rule 144 as determined by counsel to the Company pursuant to a written opinion letter to such 

  
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effect, addressed and reasonably acceptable to the Company’s transfer agent (the “Effectiveness Period”). The Company shall request effectiveness of a Registration Statement
as of 5:00 p.m. New York City time on a Trading Day. The Company shall promptly notify the Holders via facsimile or electronic mail of a “.pdf” format data file of the effectiveness of a Registration Statement within two (2) Business
Days of the Effective Date. The Company shall, by 9:30 a.m. New York City Time on the first Trading Day after the Effective Date, file a final Prospectus with the Commission, as required by Rule 424(b). Failure to so notify the holders on or before
the second Business Day after such notification or effectiveness or failure to file a final Prospectus as aforesaid shall be deemed an Event under Section 2(c). 

(c) If: (i) the Initial Registration Statement is not filed with the Commission on or prior to the Filing Deadline, (ii) the Initial
Registration Statement or the New Registration Statement, as applicable, is not declared effective by the Commission (or otherwise does not become effective) for any reason on or prior to the Effectiveness Deadline or (iii) after its Effective
Date, (A) a Registration Statement ceases for any reason (including without limitation by reason of a stop order, or the Company’s failure to update the Registration Statement), to remain continuously effective as to all Registrable
Securities for which it is required to be effective or (B) the Holders are not permitted to utilize the Prospectus therein to resell such Registrable Securities, in the case of (A) and (B), for more than an aggregate of 30 Trading Days
(which need not be consecutive) (other than during an Allowable Grace Period (as defined in Section 2(e) of this Agreement)), (iv) a Grace Period (as defined in Section 2(e) of this Agreement) exceeds the length of an
Allowable Grace Period, or (v) after the date three months following the Execution Date and in the event any of the conditions set forth in clause (iii) above are applicable (without giving effect to the 30 Trading Day period), the Company
fails to file with the SEC any required reports under Section 13 or 15(d) of the Exchange Act such that it is not in compliance with Rule 144(c)(1) as a result of which the Holders who are not affiliates are unable to sell Registrable
Securities without restriction under Rule 144 (or any successor thereto), (any such failure or breach in clauses (i) through (v) above being referred to as an “Event,” and, for purposes of clauses (i), (ii) or (v),
the date on which such Event occurs, or for purposes of clause (iii), the date on which such 30 Trading Day period is exceeded, or for purposes of clause (iv) the date on which such Allowable Grace Period is exceeded, being referred to as an
“Event Date”), then in addition to any other rights the Holders may have hereunder or under applicable law, on each such Event Date and on each monthly anniversary of each such Event Date (if the applicable Event shall not have been
cured by such date) until the applicable Event is cured, the Company shall pay to each Holder an amount in cash, as liquidated damages and not as a penalty (“Liquidated Damages”), equal to 1.0% per annum of the sum of
(i) the aggregate purchase price paid by such Purchaser pursuant to the Purchase Agreement for any Common Stock (including Common Stock converted from Preferred Stock) that are outstanding on the Event Date and constitute Registrable Securities
and Preferred Stock that is outstanding on the Event Date and is convertible into Registrable Securities and (ii) $15.00 multiplied by the number of shares of Common Stock received by the Purchaser upon exchange or conversion of Series B Notes
pursuant to the terms of the Exchange Agreements or Purchase Agreements that are outstanding on the Event Date and constitute Registrable Securities. The parties agree that notwithstanding anything to the contrary herein or in the Share Acquisition
Agreements, no Liquidated Damages shall be payable for any period after the expiration of the Effectiveness Period (except in respect of an Event described in Section 2(c)(v) herein). The Liquidated Damages pursuant to the terms hereof
shall apply on a daily pro-rata basis for any 

  
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portion of a month prior to the cure of an Event. The right to receive the Liquidated Damages under this Section 2(c) shall be the Holder’s exclusive remedy for any failure by
the Company to comply with the provisions of this Section 2(c). Notwithstanding the foregoing, the Company can defer the payment of any Liquidated Damages that are otherwise due and payable pursuant to this Section 2(c)
during any period in which the Company is not permitted to pay such Liquidated Damages pursuant to the terms of the Financing Facilities (as defined in the Purchase Agreement) and will make any such deferred payment of Liquidated Damages as soon
as reasonably practicable following the termination on any such period and in any event no later than the stated maturity of such Financing Facilities. 

(d) Except with respect to the filing of the Initial Registration Statement, at least ten (10) Trading Days prior to the anticipated
filing date of a Registration Statement under this Agreement, the Company will notify each Holder of any information relating to such Holder other than the information previously provided in the Selling Securityholder Questionnaire, if any, required
to be included in such Registration Statement which information shall be delivered to the Company promptly upon request and, in any event, within two (2) Trading Days prior to the applicable anticipated filing date. Each Holder acknowledges and
agrees that the information in the Selling Securityholder Questionnaire or request for further information as described in this Section 2(d) will be used by the Company in the preparation of the Registration Statement and hereby consents
to the inclusion of such information in the Registration Statement. 
 (e) Notwithstanding anything to the contrary herein, at any time
after the Registration Statement has been declared effective by the Commission, the Company may delay the disclosure of material non-public information concerning the Company if the disclosure of such information at the time is not, in the good
faith judgment of the Company, in the best interests of the Company (a “Grace Period”); provided, however, the Company shall promptly (i) notify the Holders in writing of the existence of material non-public information
giving rise to a Grace Period (provided that the Company shall not disclose the content of such material non-public information to the Holders) or the need to file a post-effective amendment, as applicable, and the date on which such Grace Period
will begin, and (ii) notify the Holders in writing of the date on which the Grace Period ends; provided, further, that no single Grace Period shall exceed thirty (30) consecutive days, and during any three hundred sixty-five
(365) day period, the aggregate of all Grace Periods shall not exceed an aggregate of forty-five (45) days (each Grace Period complying with this provision being an “Allowable Grace Period”). For purposes of determining
the length of a Grace Period, the Grace Period shall be deemed to begin on and include the date the Holders receive the notice referred to in clause (i) above and shall end on and include the later of the date the Holders receive the notice
referred to in clause (ii) above and the date referred to in such notice; provided, however, that no Grace Period shall be longer than an Allowable Grace Period. Notwithstanding anything to the contrary, the Company shall cause the
transfer agent with respect to the shares of Common Stock, to deliver unlegended shares of Common Stock to a transferee of a Holder in connection with any sale of Registrable Securities with respect to which a Holder has entered into a contract for
sale prior to the Holder’s receipt of the notice of a Grace Period and for which the Holder has not yet settled. 
 (f) In the event
that Form S-3 is not available for the registration of the resale of Registrable Securities hereunder, the Company shall (i) register the resale of the Registrable Securities on another appropriate form reasonably acceptable to the Holders and
(ii) undertake to 

  
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register the Registrable Securities on Form S-3 promptly after such form is available, provided that the Company shall maintain the effectiveness of the Registration Statement then in
effect until such time as a Registration Statement on Form S-3 covering the Registrable Securities has been declared effective by the Commission. 

3. Registration and Coordination Generally. 

In connection with the Company’s registration obligations hereunder, the Company shall: 

(a) Not less than five (5) Trading Days prior to the filing of a Registration Statement (other than the Initial Registration Statement)
and not less than one (1) Trading Day prior to the filing of any related Prospectus or any amendment or supplement thereto (except for Annual Reports on Form 10-K, and Quarterly Reports on Form 10-Q and Current Reports on Form 8-K and any
similar or successor reports which are incorporated by reference in a Registration Statement), the Company shall, furnish to the Holder copies of such Registration Statement, Prospectus or amendment or supplement thereto, as proposed to be filed,
which documents will be subject to the review of such Holder (it being acknowledged and agreed that if a Holder does not object to or comment on the aforementioned documents within such five (5) Trading Day or one (1) Trading Day period,
as the case may be, then the Holder shall be deemed to not have objected to the use of such documents). The Company shall not file any Registration Statement or amendment or supplement thereto in a form to which a Holder reasonably objects in good
faith, provided that, the Company is notified of such objection in writing within the five (5) Trading Day or one (1) Trading Day period described above, as applicable. 

(b) (i) Prepare and file with the Commission such amendments (including post-effective amendments) and
supplements, to each Registration Statement and the Prospectus used in connection therewith as may be necessary to keep such Registration Statement continuously effective as to the applicable Registrable Securities for its Effectiveness Period
(except during an Allowable Grace Period); (ii) cause the related Prospectus to be amended or supplemented by any required Prospectus supplement (subject to the terms of this Agreement), and, as so supplemented or amended, to be filed pursuant
to Rule 424 (except during an Allowable Grace Period); (iii) respond as promptly as reasonably practicable to any comments received from the Commission with respect to each Registration Statement or any amendment thereto and, as promptly as
reasonably possible, provide the Holders true and complete copies of all correspondence from and to the Commission relating to such Registration Statement that pertains to the Holders as “Selling Securityholders” but not any comments that
would result in the disclosure to the Holders of material and non-public information concerning the Company; and (iv) comply with the provisions of the Securities Act and the Exchange Act with respect to the disposition of all Registrable
Securities covered by a Registration Statement until such time as all of such Registrable Securities shall have been disposed of (subject to the terms of this Agreement) in accordance with the intended methods of disposition by the Holders thereof
as set forth in such Registration Statement as so amended or in such Prospectus as so supplemented; provided, however, that each Purchaser shall be responsible for the delivery of the Prospectus to the Persons to whom such Purchaser sells any
Registrable Securities (including in accordance with Rule 172 under the Securities Act), and each Purchaser agrees to dispose of Registrable Securities in compliance with the plan of distribution described in the Registration Statement and

  
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otherwise in compliance with applicable federal and state securities laws. In the case of amendments and supplements to a Registration Statement which are required to be filed pursuant to this
Agreement (including pursuant to this Section 3(b)) by reason of the Company filing a report on Form 10-K, Form 10-Q or Form 8-K or any analogous report under the Exchange Act, the Company shall have incorporated such report by reference
into such Registration Statement, if applicable, or shall file such amendments or supplements with the Commission on the same day on which the Exchange Act report which created the requirement for the Company to amend or supplement such Registration
Statement was filed. 
 (c) Notify the Holders (which notice shall, pursuant to clauses (iii) through (v) hereof, be accompanied
by an instruction to suspend the use of the Prospectus until the requisite changes have been made) as promptly as reasonably practicable (and not less than two (2) Trading Days after the event described in such notice) and (if requested by any
such Person) confirm such notice in writing no later than two (2) Trading Days following the day (i)(A) when a Prospectus or any Prospectus supplement or post-effective amendment to a Registration
Statement is proposed to be filed; (B) when the Commission notifies the Company whether there will be a “review” of such Registration Statement and whenever the Commission comments in writing on any Registration Statement (in which
case the Company shall provide to each of the Holders true and complete copies of all comments that pertain to the Holders as a “Selling Securityholder” or to the “Plan of Distribution” and all written responses thereto, but not
information that the Company believes would constitute material and non-public information); and (C) with respect to each Registration Statement or any post-effective amendment, when the same has become
effective; (ii) of any request by the Commission or any other Federal or state governmental authority for amendments or supplements to a Registration Statement or Prospectus or for additional information that pertains to the Holders as
“Selling Securityholders” or the “Plan of Distribution”; (iii) of the issuance by the Commission or any other federal or state governmental authority of any stop order suspending the effectiveness of a Registration Statement
covering any or all of the Registrable Securities or the initiation of any Proceedings for that purpose; (iv) of the receipt by the Company of any notification with respect to the suspension of the qualification or exemption from qualification
of any of the Registrable Securities for sale in any jurisdiction, or the initiation or threatening of any Proceeding for such purpose; and (v) of the occurrence of any event or passage of time that makes the financial statements included in a
Registration Statement ineligible for inclusion therein or any statement made in such Registration Statement or Prospectus or any document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires
any revisions to such Registration Statement, Prospectus or other documents so that, in the case of such Registration Statement or the Prospectus, as the case may be, it will not contain any untrue statement of a material fact or omit to state any
material fact required to be stated therein or necessary to make the statements therein (in the case of any Prospectus, form of prospectus or supplement thereto, in light of the circumstances under which they were made), not misleading. 

(d) Use commercially reasonable efforts to avoid the issuance of, or, if issued, obtain the withdrawal at the earliest practicable time of
(i) any order suspending the effectiveness of a Registration Statement, or (ii) any suspension of the qualification (or exemption from qualification) of any of the Registrable Securities for sale in any jurisdiction, as soon as
practicable. 

  
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 (e) If requested by a Holder, furnish to such Holder, without charge, at least one conformed copy
of each Registration Statement and each amendment thereto and all exhibits to the extent requested by such Person (including those previously furnished or incorporated by reference) promptly after the filing of such documents with the Commission;
provided, that the Company shall have no obligation to provide any document pursuant to this clause that is available on the Commission’s EDGAR system. 

(f) Prior to any resale of Registrable Securities by a Holder, use its commercially reasonable efforts to register or qualify or cooperate
with the selling Holders in connection with the registration or qualification (or exemption from the registration or qualification) of such Registrable Securities for the resale by the Holder under the securities or Blue Sky laws of such
jurisdictions within the United States as any Holder reasonably requests in writing, to keep each registration or qualification (or exemption therefrom) effective during the Effectiveness Period and to do any and all other acts or things reasonably
necessary to enable the disposition in such jurisdictions of the Registrable Securities covered by each Registration Statement; provided, that the Company shall not be required to qualify generally to do business in any jurisdiction where it
is not then so qualified, subject the Company to any material tax in any such jurisdiction where it is not then so subject or file a general consent to service of process in any such jurisdiction when it is not then otherwise subject to such service
of process. 
 (g) Use commercially reasonable efforts to cause all such Registrable Securities to be listed on the Principal Market on
which Common Stock is then listed. 
 (h) If requested by the Holders, cooperate with the Holders to facilitate the timely preparation and
delivery of certificates representing the Registrable Securities to be delivered to a transferee pursuant to the Registration Statement, which certificates shall be free of all restrictive legends, and to enable such Registrable Securities to be in
such denominations and registered in such names as any such Holders may reasonably request. 
 (i) Following the occurrence of any event
contemplated by Section 3(c)(iii)-(v), as promptly as reasonably practicable (taking into account the Company’s good faith assessment of any adverse consequences to the Company and its stockholders of the premature disclosure of
such event), prepare a supplement or amendment, including a post-effective amendment, to the affected Registration Statements or a supplement to the related Prospectus or any document incorporated or deemed to
be incorporated therein by reference, and file any other required document so that, as thereafter delivered, no Registration Statement nor any Prospectus will contain an untrue statement of a material fact or omit to state a material fact required
to be stated therein or necessary to make the statements therein (in the case of any Prospectus, form of prospectus or supplement thereto, in light of the circumstances under which they were made), not misleading. 

(j) The Company may require each selling Holder to furnish to the Company a certified statement as to (i) the number of shares of Common
Stock beneficially owned by such Holder and any Affiliate thereof, (ii) any Financial Industry Regulatory Authority (“FINRA”) affiliations, (iii) any natural persons who have the power to vote or dispose of the Common
Stock and (iv) any other information as may be requested by the Commission, FINRA or any state securities commission. During any periods that the Company is unable to meet its 

  
 -11- 

 
obligations hereunder with respect to the registration of Registrable Securities because any Holder fails to furnish such information within three (3) Trading Days of the Company’s
request, any Liquidated Damages that are accruing at such time shall be tolled, solely with respect to such Holder, and any Event that may otherwise occur solely because of such delay shall be suspended, solely with respect to such Holder, until
such information is delivered to the Company. 
 (k) The Company shall cooperate with the any registered broker dealer that is required to
make a filing with FINRA pursuant to FINRA Rule 5110 in connection with the resale of any Registrable Securities by any Holder and pay the filing fee required for the first such filing. 

4. Registration Expenses. All fees and expenses incident to the Company’s performance of or compliance with its obligations under
this Agreement (excluding any underwriting discounts and selling commissions) shall be borne by the Company whether or not any Registrable Securities are sold pursuant to a Registration Statement. The fees and expenses referred to in the foregoing
sentence shall include, without limitation, (i) all registration and filing fees (including, without limitation, fees and expenses (A) with respect to filings required to be made with any Trading Market on which the Common Stock is then
listed for trading, (B) with respect to compliance with applicable state securities or Blue Sky laws (including, without limitation, fees and disbursements of counsel for the Company in connection with Blue Sky qualifications or exemptions of
the Registrable Securities and determination of the eligibility of the Registrable Securities for investment under the laws of such jurisdictions as requested by the Holders) and (C) if not previously paid by the Company in connection with an
issuer filing, with respect to any filing that may be required to be made by any broker through which a Holder intends to make sales of Registrable Securities with FINRA pursuant to the FINRA Rule 5110, so long as the broker is receiving no more
than a customary brokerage commission in connection with such sale, (ii) printing expenses (including, without limitation, expenses of printing certificates for Registrable Securities and of printing prospectuses if the printing of prospectuses
is reasonably requested by the Holders of a majority of the Registrable Securities (determined on an as converted basis in the case of Conversion Shares) included in the Registration Statement), (iii) messenger, telephone and delivery expenses,
(iv) fees and disbursements of counsel for the Company, (v) Securities Act liability insurance, if the Company so desires such insurance, and (vi) fees and expenses of all other Persons retained by the Company in connection with the
consummation of the transactions contemplated by this Agreement and (vii) at the election of Holders of a majority of the Registrable Securities (determined on an as converted basis in the case of Conversion Shares) included in the Registration
Statement, reasonable and documented out-of-pocket fees and expense (in any event not to exceed $50,000) of one (1) counsel for all of the Holders. In addition, the Company shall be responsible for all of its internal expenses incurred in
connection with the consummation of the transactions contemplated by this Agreement (including, without limitation, all salaries and expenses of its officers and employees performing legal or accounting duties), the expense of any annual audit and
the fees and expenses incurred in connection with the listing of the Registrable Securities on any securities exchange as required hereunder. In no event shall the Company be responsible for any underwriting, broker or similar fees or commissions of
any Holder or, except to the extent provided for herein or in the Share Acquisition Agreements, any legal fees or other costs of the Holders. 

  
 -12- 

 5. Indemnification. 

(a) Indemnification by the Company. The Company shall, notwithstanding any termination of this Agreement, indemnify, defend and hold
harmless each Holder, the officers, directors, agents, partners, members, managers, stockholders, Affiliates and employees of each of them, each Person who controls any such Holder (within the meaning of Section 15 of the Securities Act or
Section 20 of the Exchange Act) and the officers, directors, partners, members, managers, stockholders, agents and employees of each such controlling Person, to the fullest extent permitted by applicable law, from and against any and all
losses, claims, damages, liabilities, costs (including, without limitation, reasonable costs of preparation and investigation and reasonable attorneys’ fees) and expenses (collectively, “Losses”), as incurred, that arise out of
or are based upon (i) any untrue or alleged untrue statement of a material fact contained in any Registration Statement, any Prospectus or any form of prospectus or in any amendment or supplement thereto or in any preliminary prospectus, or
arising out of or relating to any omission or alleged omission to state a material fact required to be stated therein or necessary to make the statements therein (in the case of any Prospectus or form of prospectus or supplement thereto, in light of
the circumstances under which they were made) not misleading, or (ii) any violation or alleged violation by the Company of the Securities Act, Exchange Act or any state securities law or any rule or regulation thereunder, in connection with the
performance of its obligations under this Agreement, except to the extent, but only to the extent, that (A) such untrue statements, alleged untrue statements, omissions or alleged omissions are based solely upon information regarding such
Holder furnished in writing to the Company by such Holder expressly for use therein, (B) in the case of an occurrence of an event of the type specified in Section 3(c)(iii)-(v), related to the use by a Holder of an outdated or
defective Prospectus after the Company has notified such Holder in writing that the Prospectus is outdated or defective and prior to the receipt by such Holder of the Advice contemplated and defined in Section 6(e) below, but only if and
to the extent that following the receipt of the Advice the misstatement or omission giving rise to such Loss would have been fully corrected or (C) any such Losses arise out of the Purchaser’s (or any other indemnified Person’s)
failure to send or provide a copy of the Prospectus or supplement (as then amended or supplemented), if required, to the Persons asserting an untrue statement or alleged untrue statement or alleged untrue statement or omission or alleged omission at
or prior to the written confirmation of the sale of Registrable Securities to such Person if such statement or omission was corrected in such Prospectus or supplement. The Company shall notify the Holders promptly of the institution, threat or
assertion of any Proceeding arising from or in connection with the transactions contemplated by this Agreement of which the Company is aware. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf
of an Indemnified Party (as defined in Section 5(c)) and shall survive the transfer of the Registrable Securities by the Holders. 

(b) Indemnification by Holders. Each Holder shall, severally and not jointly, indemnify and hold harmless the Company, its directors,
officers, agents and employees, each Person who controls the Company (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the directors, officers, agents or employees of such controlling Persons,
to the fullest extent permitted by applicable law, from and against all Losses, as incurred, arising out of or are based upon any untrue or alleged untrue statement of a material fact contained in any Registration Statement, any Prospectus, or any
form of prospectus, or in any amendment or supplement thereto or in any preliminary prospectus, or arising out of or 

  
 -13- 

 
relating to any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein (in the case of any Prospectus, or any form of prospectus
or supplement thereto, in light of the circumstances under which they were made) not misleading (i) to the extent, but only to the extent, that such untrue statements or omissions are based solely upon information regarding such Holder
furnished in writing to the Company by such Holder expressly for use therein or (ii) in the case of an occurrence of an event of the type specified in Section 3(c)(iii)-(v), to the extent, but only to the extent, related to the use
by such Holder of an outdated or defective Prospectus after the Company has notified such Holder in writing that the Prospectus is outdated or defective and prior to the receipt by such Holder of the Advice contemplated in Section 6(e).
In no event shall the liability of any selling Holder hereunder be greater in amount than the dollar amount of the net proceeds received by such Holder upon the sale of the Registrable Securities giving rise to such indemnification obligation. 

(c) Conduct of Indemnification Proceedings. If any Proceeding shall be brought or asserted against any Person entitled to indemnity
hereunder (an “Indemnified Party”), such Indemnified Party shall promptly notify the Person from whom indemnity is sought (the “Indemnifying Party”) in writing, and the Indemnifying Party shall have the right to
assume the defense thereof, including the employment of counsel reasonably satisfactory to the Indemnified Party and the payment of all reasonable fees and expenses incurred in connection with defense thereof; provided, that the failure of
any Indemnified Party to give such notice shall not relieve the Indemnifying Party of its obligations or liabilities pursuant to this Agreement, except (and only) to the extent that it shall be finally determined by a court of competent jurisdiction
(which determination is not subject to appeal or further review) that such failure shall have materially and adversely prejudiced the Indemnifying Party. 

An Indemnified Party shall have the right to employ separate counsel in any such Proceeding and to participate in the defense thereof, but the
fees and expenses of such counsel shall be at the expense of such Indemnified Party or Parties unless: (1) the actual or potential defendants in, or targets of, any action include both the Indemnified Party and the Indemnifying Party and the
Indemnified Party shall have reasonably concluded, based on the advice of counsel, that there may be legal defenses available to it and/or other Indemnified Parties which are different from or additional to those available to the Indemnifying Party;
(2) the Indemnifying Party has agreed in writing to pay such fees and expenses; (3) the Indemnifying Party shall have failed promptly to assume the defense of such Proceeding and to employ counsel reasonably satisfactory to such
Indemnified Party in any such Proceeding; or (4) the named parties to any such Proceeding (including any impleaded parties) include both such Indemnified Party and the Indemnifying Party, and such Indemnified Party shall have been advised by
counsel that a conflict of interest exists if the same counsel were to represent such Indemnified Party and the Indemnifying Party (in which case, if such Indemnified Party notifies the Indemnifying Party in writing that it elects to employ separate
counsel at the expense of the Indemnifying Party, the Indemnifying Party shall not have the right to assume the defense thereof and such counsel shall be at the expense of the Indemnifying Party); provided, that the Indemnifying Party shall
not be liable for the fees and expenses of more than one separate firm of attorneys at any time for all Indemnified Parties; provided further, that each Purchaser shall be entitled to engage separate counsel at its sole expense. The
Indemnifying Party shall not be liable for any settlement of any such Proceeding effected without its written consent, which consent shall not be unreasonably withheld, delayed or conditioned. No Indemnifying Party shall, without the prior written
consent 

  
 -14- 

 
of the Indemnified Party, effect any settlement of any pending Proceeding in respect of which any Indemnified Party is a party, unless such settlement includes an unconditional release of such
Indemnified Party from all liability on claims that are the subject matter of such Proceeding. 
 Subject to the terms of this Agreement,
all fees and expenses of the Indemnified Party (including reasonable fees and expenses to the extent incurred in connection with investigating or preparing to defend such Proceeding in a manner not inconsistent with this Section) shall be paid to
the Indemnified Party, as incurred, within twenty Trading Days of written notice thereof to the Indemnifying Party; provided, that the Indemnified Party shall promptly reimburse the Indemnifying Party for that portion of such fees and
expenses applicable to such actions for which such Indemnified Party is finally judicially determined to not be entitled to indemnification hereunder. The failure to deliver written notice to the Indemnifying Party within a reasonable time of the
commencement of any such action shall not relieve such Indemnifying Party of any liability to the Indemnified Party under this Section 5, except to the extent that the Indemnifying Party is materially and adversely prejudiced in its ability to
defend such action. 
 (d) Contribution. If a claim for indemnification under Section 5(a) or 5(b) is unavailable
to an Indemnified Party or insufficient to hold an Indemnified Party harmless for any Losses, then each Indemnifying Party, in lieu of indemnifying such Indemnified Party, shall contribute to the amount paid or payable by such Indemnified Party as a
result of such Losses, in such proportion as is appropriate to reflect the relative fault of the Indemnifying Party and Indemnified Party in connection with the actions, statements or omissions that resulted in such Losses as well as any other
relevant equitable considerations. The relative fault of such Indemnifying Party and Indemnified Party shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of a
material fact or omission or alleged omission of a material fact, has been taken or made by, or relates to information supplied by, such Indemnifying Party or Indemnified Party, and the parties’ relative intent, knowledge, access to information
and opportunity to correct or prevent such action, statement or omission. The amount paid or payable by a party as a result of any Losses shall be deemed to include, subject to the limitations set forth in this Agreement, any reasonable
attorneys’ or other reasonable fees or expenses incurred by such party in connection with any Proceeding to the extent such party would have been indemnified for such fees or expenses if the indemnification provided for in this Section was
available to such party in accordance with its terms. 
 The parties hereto agree that it would not be just and equitable if contribution
pursuant to this Section 5(d) were determined by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to in the immediately preceding paragraph. Notwithstanding
the provisions of this Section 5(d), no Holder shall be required to contribute, in the aggregate, any amount in excess of the amount by which the net proceeds actually received by such Holder from the sale of the Registrable Securities
subject to the Proceeding exceeds the amount of any damages that such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. For the purposes of this Section 5, each
Person who controls any Holder (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) of Registrable Securities shall have the same rights to contribution as such Holder. No person guilty

  
 -15- 

 
of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent
misrepresentation. 
 The indemnity and contribution agreements contained in this Section are in addition to any liability that the
Indemnifying Parties may have to the Indemnified Parties and are not in diminution or limitation of the indemnification provisions under the Share Acquisition Agreements. 

6. Miscellaneous. 
 (a)
Remedies. In the event of a breach by the Company or by a Holder of any of their obligations under this Agreement, each Holder or the Company, as the case may be, in addition to being entitled to exercise all rights granted by law and under
this Agreement, including recovery of damages, will be entitled to specific performance of its rights under this Agreement. The Company and each Holder agree in the event the Company fails to perform, observe or discharge any or all of its
obligations under this Agreement other than those set forth in Section 2(c) hereof, any remedy at law may prove to be inadequate relief to the Holders. The Company and each Holder thereby agree that the Holders may be entitled to
temporary and permanent injunctive relief in any such case, including specific performance, without the necessity of proving actual damages and without posting a bond or other security. 

(b) No Piggyback on Registrations. Neither the Company nor any of its security holders (other than the Holders in such capacity
pursuant hereto) may include securities of the Company in a Registration Statement other than the Registrable Securities and the Company shall not prior to the Effective Date enter into any agreement providing any such right to any of its security
holders. 
 (c) No Required Sale. Nothing in this Agreement shall be deemed to create an independent obligation on the part of any
Holder to sell any Registrable Securities pursuant to any effective Registration Statement. 
 (d) Compliance. Each Holder covenants
and agrees that it will comply with the prospectus delivery requirements of the Securities Act as applicable to it (unless an exemption therefrom is available) in connection with sales of Registrable Securities pursuant to the Registration Statement
and shall sell the Registrable Securities only in accordance with a method of distribution described in the Registration Statement 
 (e)
Discontinued Disposition. By its acquisition of Registrable Securities, each Holder agrees that, upon receipt of a notice from the Company of the occurrence of any event of the kind described in Section 3(c)(iii)-(vi), such Holder
will forthwith discontinue disposition of such Registrable Securities under a Registration Statement until it is advised in writing (the “Advice”) by the Company that the use of the applicable Prospectus (as it may have been
supplemented or amended) may be resumed. The Company may provide appropriate stop orders to enforce the provisions of this paragraph. 
 (f)
No Inconsistent Agreements. Neither the Company nor any of its subsidiaries has entered, as of the date hereof, nor shall the Company or any of its subsidiaries, 

  
 -16- 

 
on or after the date hereof, enter into any agreement with respect to its securities, that would have the effect of impairing the rights granted to the Holders in this Agreement or otherwise
conflicts with the provisions hereof. 
 (g) Amendments and Waivers. The provisions of this Agreement, including the provisions of
this sentence, may not be amended, modified or supplemented, or waived unless the same shall be in writing and signed by the Company and Holders holding a majority of the then outstanding Registrable Securities (determined on an as converted basis
in the case of the Conversion Shares); provided, that (i) any party may give a waiver as to itself and (ii) no amendment, modification, supplement or waiver shall apply to a Holder who beneficially owns 10% or more of the
Company’s outstanding voting securities (a “10% Owner”) unless such amendment, modification, supplement or waiver is approved by such 10% Owner. Notwithstanding the foregoing, a waiver or consent to depart from the provisions
hereof with respect to a matter that relates exclusively to the rights of Holders and that does not directly or indirectly affect the rights of other Holders may be given by Holders of all of the Registrable Securities to which such waiver or
consent relates; provided, however, that (i) the provisions of this sentence may not be amended, modified, or supplemented except in accordance with the provisions of the immediately preceding sentence and (ii) the right to
receive Liquidated Damages pursuant to Section 2(c) shall not be modified or impaired without the consent of each Holder affected. 

(h) Notices. Any notices, consents, waivers or other communications required or permitted to be given under the terms of this Agreement
must be in writing and will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when sent by facsimile (provided confirmation of transmission is mechanically or electronically generated and
kept on file by the sending party); or (iii) one Business Day after deposit with an overnight courier service, in each case properly addressed to the party to receive the same. The addresses and facsimile numbers for such communications shall
be: 
 If to the Company: 
  

			
	YRC Worldwide Inc.
	10990 Roe Avenue
	Overland Park, Kansas 66211
	Telephone:	  	(913) 696-6100
	Facsimile:	  	(913) 696-6116
	Attention:	  	Michelle A. Friel
		  	Executive Vice President, General Counsel and Secretary
	Email:	  	michelle.friel@yrcw.com

 With a copy to (for informational purposes only): 

 

			
	Kirkland & Ellis LLP
	300 North LaSalle Street
	Chicago, Illinois 60654
	Telephone:	  	(312) 862-2232
	Facsimile:	  	(312) 862-2200
	Attention:	  	Dennis M. Myers, P.C.
	Email:	  	dennis.myers@kirkland.com

  
 -17- 

 If to a Holder: 

To its most current address and facsimile number set forth on the record of the transfer agent, 

or to such other address, facsimile number and/or email address to the attention of such other Person as the recipient party has specified by written notice
given to each other party five (5) days prior to the effectiveness of such change. Written confirmation of receipt (A) given by the recipient of such notice, consent, waiver or other communication, (B) mechanically or electronically
generated by the sender’s facsimile machine containing the time, date, recipient facsimile number and an image of the first page of such transmission or (C) provided by an overnight courier service shall be rebuttable evidence of personal
service, receipt by facsimile or receipt from an overnight courier service in accordance with clause (i), (ii) or (iii) above, respectively. 

(i) Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns of
each of the parties and shall inure to the benefit of each Holder. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies,
obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. The Company may not assign its rights or obligations hereunder without the prior written consent of (i) the Holders holding a
majority of the then outstanding Registrable Securities (determined on an as converted basis in the case of Conversion Shares) and (ii) each 10% Owner. Each Holder may assign its respective rights hereunder in the manner and to the Persons who
are permitted to be assignees under the Purchase Agreement. 
 (j) Execution and Counterparts. This Agreement may be executed in two
or more 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 and shall become effective when counterparts have been signed by each party and
delivered to the other party, it being understood that both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission or by e-mail delivery of a “.pdf” format data file, such
signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf” signature were the original thereof. 

(k) Governing Law; Jurisdiction; Jury Trial. All questions concerning the construction, validity, enforcement and interpretation of
this Agreement shall be governed by the internal laws of the State of New York, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of New York or any other jurisdictions) that would cause the
application of the laws of any jurisdictions other than the State of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in The City of New York, Borough of Manhattan for the
adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed 

  
 -18- 

 
herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such
suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper. Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit,
action or proceeding by mailing a copy thereof to such party at the address for such notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein
shall be deemed to limit in any way any right to serve process in any manner permitted by law. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN
CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY. 
 (l) Cumulative Remedies. The remedies
provided herein are cumulative and not exclusive of any other remedies provided by law. 
 (m) Severability. If any term, provision,
covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and
effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their good faith reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated
by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that
may be hereafter declared invalid, illegal, void or unenforceable. 
 (n) Headings. The headings in this Agreement are for
convenience only and shall not limit or otherwise affect the meaning hereof. 
 (o) Independent Nature of Purchasers’ Obligations
and Rights. The obligations of each Purchaser under this Agreement are several and not joint with the obligations of any other Purchaser hereunder, and no Purchaser shall be responsible in any way for the performance of the obligations of any
other Purchaser hereunder. The decision of each Purchaser to purchase the Shares pursuant to the Share Acquisition Agreements has been made independently of any other Purchaser. Nothing contained herein or in any other agreement or document
delivered at any closing, and no action taken by any Purchaser pursuant hereto or thereto, shall be deemed to constitute the Purchasers as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the
Purchasers are in any way acting in concert with respect to such obligations or the transactions contemplated by this Agreement. Each Purchaser acknowledges that no other Purchaser has acted as agent for such Purchaser in connection with making its
investment hereunder and that no Purchaser will be acting as agent of such Purchaser in connection with monitoring its investment in the Shares or enforcing its rights under the Share Acquisition Agreements. Each Purchaser shall be entitled to
protect and enforce its rights, including, without limitation, the rights arising out of this Agreement, and it shall not be necessary for any other Purchaser to be joined as an additional 

  
 -19- 

 
party in any Proceeding for such purpose. The Company acknowledges that each of the Purchasers has been provided with the same Registration Rights Agreement for the purpose of closing a
transaction with multiple Purchasers and not because it was required or requested to do so by any Purchaser. 
 [REMAINDER OF PAGE
INTENTIONALLY LEFT BLANK, 
 SIGNATURE PAGES TO FOLLOW] 

  
 -20- 

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date
first written above. 
  

			
	COMPANY:
	
	YRC WORLDWIDE INC.
		
	By:	 	  /s/ Jamie Pierson

	Name:	 	Jamie Pierson
	Title:	 	CFO

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date
first written above. 
  

									
		 	Avenue Capital Management II, L.P.,
		
		 	Solely in its capacity as Investment Advisor
			
		 		 	By: Avenue Capital Management II, GenPar, LLC its General Partner
				
		 		 	Signed:	 	  /s/ Sonia E. Gardner

				
		 		 	By:	 	Sonia E. Gardner
		 		 	Title:	 	Member
				
		 		 		 	Avenue International Master, L.P.
				
		 		 		 	By: Avenue International Master GenPar, Ltd., its General Partner
				
		 		 		 	  /s/ Sonia E. Gardner

		 		 		 	Name:	 	Sonia E. Gardner
		 		 		 	Title:	 	 Director

				
		 		 		 	Avenue Investments, L.P.
				
		 		 		 	By: Avenue Partners, LLC, its General Partner
				
		 		 		 	  /s/ Sonia E. Gardner

		 		 		 	Name:	 	Sonia E. Gardner
		 		 		 	Title:	 	Member

							
		 	Avenue Special Situations Fund VI (Master), L.P.
		
		 	By: Avenue Capital Partners VI, LLC, General Partner
		 	By: GL Partners VI, LLC, its Managing Member
		
		 	  /s/ Sonia E. Gardner

		 	Name:	 	Sonia E. Gardner
		 	Title:	 	Member
		
		 	Avenue Special Opportunities Fund I, L.P.
		
		 	By: Avenue SO Capital Partners I, LLC, General Partner
		
		 	By: GL SO Partners I, LLC, its Managing Member
		
		 	  /s/ Sonia E. Gardner

		 	Name:	 	Sonia E. Gardner
		 	Title:	 	Member
			
		 		 	MANAGED ACCOUNTS MASTER FUND SERVICES -MAP10,
		 		 	a Sub Trust of Managed Accounts Master Fund Services
			
		 		 	By: Avenue Capital Management II, L.P., its Investment Manager
		 		 	By: Avenue Capital Management II GenPar, LLC, its General Partner
				
		 		 	By:	 	  /s/ Sonia E. Gardner

		 		 		 	Name:   Sonia E. Gardner
		 		 		 	Title:     Member

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date
first written above. 
  

							
		 	PURCHASER:
		
		 	 BLUECREST MULTI STRATEGY CREDIT

MASTER FUND LIMITED

		 	By: BlueCrest Capital Management (New York)
		 	LP, as sub-investment manager to BlueCrest
		 	Multi Strategy Credit Master Fund Limited
			
		 	By:	 	  /s/ Brian McCawley

		 	 on behalf of the general partner of BlueCrest

Capital Management (New York) LP

				
		 		 	Name:	 	Brian McCawley
		 		 	Title:	 	Legal Counsel

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date
first written above. 
  

							
		 	PURCHASER:
		
		 	CSP III AIV (CAYMAN), L.P.
			
		 	By:	 	 CSP III AIV General Partner (Cayman), L.P.,

its general partner

			
		 	By:	 	 CSP III AIV GP (Cayman), Ltd.,

its general partner

			
		 	By:	 	  /s/ Shary Moalemzadeh

		 		 	Name:	 	Shary Moalemzadeh
		 		 	Title:	 	Authorized Signatory

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date
first written above. 
  

							
		 	PURCHASER:
		
		 	CARLYLE STRATEGIC PARTNERS II, L.P.
			
		 	By:	 	 CSP II General Partner, L.P.,

its general partner

			
		 	By:	 	 TC Group CSP II, L.L.C.,
 its
general partner

			
		 	By:	 	  /s/ Shary Moalemzadeh

		 		 	Name:	 	Shary Moalemzadeh
		 		 	Title:	 	Authorized Signatory

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date
first written above. 
  

							
		 	PURCHASER:
		
		 	CSP II COINVESTMENT, L.P.
			
		 	By:	 	 CSP II General Partner, L.P.,

its general partner

			
		 	By:	 	 TC Group CSP II, L.L.C.,
 its
general partner

			
		 	By:	 	  /s/ Shary Moalemzadeh

		 		 	Name:	 	Shary Moalemzadeh
		 		 	Title:	 	Authorized Signatory

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date
first written above. 
  

							
		 	PURCHASER:
		
		 	 DEUTSCHE BANK SECURITIES INC.,

SOLELY WITH RESPECT TO THE DISTRESSED PRODUCTS
GROUP

			
		 	By:	 	  /s/ Shawn Faurot

		 		 	Name:	 	Shawn Faurot
		 		 	Title:	 	Managing Director
			
		 	By:	 	   /s/ R. Mikel Curreri

		 		 	Name:	 	R. Mikel Curreri
		 		 	Title:	 	Managing Director

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date
first written above. 
  

									
		 		 	PURCHASER:
			
		 		 	DEUTSCHE BANK SECURITIES INC.
			
		 		 	 Solely with respect to the US Convertible

Trading Group

				
		 		 	By:	 	  /s/ RAKESH KADAKIA

		 		 		 	Name:	 	RAKESH KADAKIA
		 		 		 	Title:	 	MANAGING DIRECTOR
				
		 		 	By:	 	   /s/ THEODORE BLAKE

		 		 		 	Name:	 	THEODORE BLAKE
		 		 		 	Title:	 	DIRECTOR

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date
first written above. 
  

									
		 		 	PURCHASER:
			
		 		 	HG VORA CAPITAL MANAGEMENT, LLC
				
		 		 	By:	 	  /s/ GARY MOROSS

		 		 		 	Name:	 	GARY MOROSS
		 		 		 	Title:	 	PARTNER

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date
first written above. 
  

									
		 		 	PURCHASER:
			
		 		 	SABA CAPITAL MASTER FUND LTD.
				
		 		 	By:	 	  /s/ Kenneth J. Weiller

		 		 		 	Name:	 	Kenneth J. Weiller
		 		 		 	Title:	 	Director

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date
first written above. 
  

									
		 		 	PURCHASER:
			
		 		 	SABA CAPITAL LEVERAGED MASTER FUND LTD.
				
		 		 	By:	 	  /s/ Kenneth J. Weiller

		 		 		 	Name:	 	Kenneth J. Weiller
		 		 		 	Title:	 	Director

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date
first written above. 
  

									
		 		 	PURCHASER:
			
		 		 	SABA CAPITAL MASTER FUND II, LTD.
				
		 		 	By:	 	  /s/ Kenneth J. Weiller

		 		 		 	Name:	 	Kenneth J. Weiller
		 		 		 	Title:	 	Director

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date
first written above. 
  

									
		 		 	PURCHASER:
			
		 		 	ULTRA MASTER LTD
				
		 		 	By:	 	 Solus Alternative Asset Management LP, its

investment manager

				
		 		 	By:	 	  /s/ C.J. Lanktree

		 		 		 	Name:	 	 C.J. Lanktree

		 		 		 	Title:	 	EVP/Portfolio Manager

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date
first written above. 
  

									
		 		 	PURCHASER:
			
		 		 	SOLUS CORE OPPORTUNITIES MASTER FUND LTD
				
		 		 	By:	 	 Solus Alternative Asset Management LP, its

investment manager

				
		 		 	By:	 	  /s/ C.J. Lanktree

		 		 		 	Name:	 	 C.J. Lanktree

		 		 		 	Title:	 	EVP/Portfolio Manager

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date
first written above. 
  

									
		 		 	PURCHASER:
			
		 		 	SOLA LTD
				
		 		 	By:	 	 Solus Alternative Asset Management LP, its

investment manager

				
		 		 	By:	 	  /s/ C.J. Lanktree

		 		 		 	Name:	 	 C.J. Lanktree

		 		 		 	Title:	 	EVP/Portfolio Manager

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date
first written above. 
  

									
		 		 	PURCHASER:
			
		 		 	SOLUS OPPORTUNITIES FUND 1 LP
				
		 		 	By:	 	 Solus Alternative Asset Management LP, its

investment manager

				
		 		 	By:	 	  /s/ C.J. Lanktree

		 		 		 	Name:	 	 C.J. Lanktree

		 		 		 	Title:	 	EVP/Portfolio Manager

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date
first written above. 
  

									
		 		 	PURCHASER:
			
		 		 	SOLUS OPPORTUNITIES FUND 2 LP
				
		 		 	By:	 	 Solus Alternative Asset Management LP, its

investment manager

				
		 		 	By:	 	  /s/ C.J. Lanktree

		 		 		 	Name:	 	 C.J. Lanktree

		 		 		 	Title:	 	EVP/Portfolio Manager

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date
first written above. 
  

									
		 		 	PURCHASER:
			
		 		 	SIPI MASTER LTD.,
				
		 		 	By:	 	 Spectrum Group Management LLC, as

Investment Manager

				
		 		 	By:	 	  /s/ JEFFREY A. SCHAFFER

		 		 		 	Name:	 	 JEFFREY A. SCHAFFER

		 		 		 	Title:	 	MANAGING MEMBER

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date
first written above. 
  

									
		 		 	PURCHASER:
			
		 		 	 KHROMA SPECIAL SITUATIONS

MASTER SPC LTD.,

				
		 		 	By:	 	 Spectrum Group Management LLC, as

Investment Manager

				
		 		 	By:	 	  /s/ JEFFREY A. SCHAFFER

		 		 		 	Name:	 	 JEFFREY A. SCHAFFER

		 		 		 	Title:	 	MANAGING MEMBER

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date
first written above. 
  

									
		 		 	PURCHASER:
			
		 		 	Taconic Opportunity Master Fund L.P.
				
		 		 	By:	 	 Taconic Capital Advisors L.P.

				
		 		 	By:	 	  /s/ Christopher DeLong

		 		 		 	Name:	 	 Christopher DeLong

		 		 		 	Title:	 	Chief Investment Officer

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date
first written above. 
  

									
		 		 	PURCHASER:
			
		 		 	 WHITEBOX ADVISORS LLC

FOR AND ON BEHALF OF THE SCHEDULE OF
PURCHASERS
 SET FORTH IN ANNEX I

				
		 		 	By:	 	  /s/ Mark Strefling

		 		 		 	Name:	 	 Mark Strefling

		 		 		 	Title:	 	General Counsel and Chief Operating Officer

 Annex A 

PLAN OF DISTRIBUTION 
 We
are registering shares of Common Stock to permit the resale of such shares of Common Stock by the holders of the shares of Common Stock from time to time after the date of this prospectus. We will not receive any of the proceeds from the sale by the
selling securityholders of the shares of Common Stock. We will bear all fees and expenses incident to our obligation to register the shares of Common Stock. 

The selling securityholders may sell all or a portion of the shares of Common Stock beneficially owned by them and offered hereby from time to
time directly or through one or more underwriters, broker-dealers or agents. If the shares of Common Stock are sold through underwriters or broker-dealers, the selling securityholders will be responsible for underwriting discounts or commissions or
agent’s commissions. The shares of Common Stock may be sold on any national securities exchange or quotation service on which the securities may be listed or quoted at the time of sale, in the over-the-counter market or in transactions
otherwise than on these exchanges or systems or in the over-the-counter market and in one or more transactions at fixed prices, at prevailing market prices at the time of the sale, at varying prices determined at the time of sale, or at negotiated
prices. These sales may be effected in transactions, which may involve crosses or block transactions. The selling securityholders may use any one or more of the following methods when selling shares: 

 

	•	 	ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers; 

  

	•	 	block trades in which the broker-dealer will attempt to sell the shares as agent but may position and resell a portion of the block as principal to facilitate the transaction; 

 

	•	 	purchases by a broker-dealer as principal and resale by the broker-dealer for its account; 

  

	•	 	an exchange distribution in accordance with the rules of the applicable exchange; 

  

	•	 	privately negotiated transactions; 

  

	•	 	settlement of short sales entered into after the effective date of the registration statement of which this prospectus is a part; 

  

	•	 	broker-dealers may agree with the selling securityholders to sell a specified number of such shares at a stipulated price per share; 

 

	•	 	through the writing or settlement of options or other hedging transactions, whether such options are listed on an options exchange or otherwise; 

 

	•	 	a combination of any such methods of sale; and 

  

	•	 	any other method permitted pursuant to applicable law. 

  
 A-1 

 The selling securityholders also may resell all or a portion of the shares of Common Stock in
open market transactions in reliance upon Rule 144 under the Securities Act or 1933, as amended, which we refer to herein as the Securities Act, as permitted by that rule, or Section 4(1) under the Securities Act, if available, rather than
under this prospectus, provided that they meet the criteria and conform to the requirements of those provisions. 
 Broker-dealers engaged by the selling securityholders may arrange for other broker-dealers to participate in sales. If the selling securityholders effect such transactions by
selling shares of Common Stock to or through underwriters, broker-dealers or agents, such underwriters, broker-dealers or agents may receive commissions in the form of discounts, concessions or commissions from the selling securityholders or
commissions from purchasers of the shares of Common Stock for whom they may act as agent or to whom they may sell as principal. Such commissions will be in amounts to be negotiated, but, except as set forth in a supplement to this Prospectus, in the
case of an agency transaction will not be in excess of a customary brokerage commission in compliance with FINRA Rule 2440; and in the case of a principal transaction a markup or markdown in compliance with FINRA IM-2440. 

In connection with sales of the shares of Common Stock or otherwise, the selling securityholders may enter into hedging transactions with
broker-dealers or other financial institutions, which may in turn engage in short sales of the shares of Common Stock in the course of hedging in positions they assume. The selling securityholders may also sell shares of Common Stock short and if
such short sale shall take place after the date that the registration statement of which this prospectus forms a part is declared effective by the Commission, the selling securityholders may deliver shares of Common Stock covered by this prospectus
to close out short positions and to return borrowed shares in connection with such short sales. The selling securityholders may also loan or pledge shares of Common Stock to broker-dealers that in turn may sell such shares, to the extent permitted
by applicable law. The selling securityholders may also enter into option or other transactions with broker-dealers or other financial institutions or the creation of one or more derivative securities which require the delivery to such broker-dealer
or other financial institution of shares offered by this prospectus, which shares such broker-dealer or other financial institution may resell pursuant to this prospectus (as supplemented or amended to reflect such transaction). Notwithstanding the
foregoing, the selling securityholders have been advised that they may not use shares registered on this registration statement to cover short sales of our common stock made prior to the date the registration statement, of which this prospectus
forms a part, has been declared effective by the SEC. 
 The selling securityholders may, from time to time, pledge or grant a security
interest in some or all of the shares of Common Stock owned by them and, if they default in the performance of their secured obligations, the pledgees or secured parties may offer and sell the shares of Common Stock from time to time pursuant to
this prospectus or any amendment to this prospectus under Rule 424(b)(3) or other applicable provision of the Securities Act, amending, if necessary, the list of selling securityholders to include the pledgee, transferee or other successors in
interest as selling securityholders under this prospectus. The selling securityholders also may transfer and donate the shares of Common Stock in other circumstances in which case the transferees, donees, pledgees or other successors in interest
will be the selling beneficial owners for purposes of this prospectus. 

  
 A-2 

 The selling securityholders and any broker-dealer or agents participating in the distribution of
the shares of Common Stock may be deemed to be “underwriters” within the meaning of Section 2(11) of the Securities Act in connection with such sales. In such event, any commissions paid, or any discounts or concessions allowed to,
any such broker-dealer or agent and any profit on the resale of the shares purchased by them may be deemed to be underwriting commissions or discounts under the Securities Act. Selling securityholders who are “underwriters” within the
meaning of Section 2(11) of the Securities Act will be subject to the applicable prospectus delivery requirements of the Securities Act and may be subject to certain statutory liabilities of, including but not limited to, Sections 11, 12 and 17
of the Securities Act and Rule 10b-5 under the Securities Exchange Act of 1934, as amended, which we refer to herein as the Exchange Act. 

Each selling securityholder has informed the Company that it is not a registered broker-dealer and does not have any written or oral agreement
or understanding, directly or indirectly, with any person to distribute the Common Stock. Upon the Company being notified in writing by a selling securityholder that any material arrangement has been entered into with a broker-dealer for the sale of
Common Stock through a block trade, special offering, exchange distribution or secondary distribution or a purchase by a broker or dealer, a supplement to this prospectus will be filed, if required, pursuant to Rule 424(b) under the Securities Act,
disclosing (i) the name of each such selling securityholder and of the participating broker-dealer(s), (ii) the number of shares involved, (iii) the price at which such the shares of Common Stock were sold, (iv) the commissions
paid or discounts or concessions allowed to such broker-dealer(s), where applicable, (v) that such broker-dealer(s) did not conduct any investigation to verify the information set out or incorporated by reference in this prospectus, and
(vi) other facts material to the transaction. In no event shall any broker-dealer receive fees, commissions and markups, which, in the aggregate, would exceed eight percent (8%). 

Under the securities laws of some states, the shares of Common Stock may be sold in such states only through registered or licensed brokers or
dealers. In addition, in some states the shares of Common Stock may not be sold unless such shares have been registered or qualified for sale in such state or an exemption from registration or qualification is available and is complied with. 

There can be no assurance that any selling securityholder will sell any or all of the shares of Common Stock registered pursuant to the shelf
registration statement, of which this prospectus forms a part. 
 Each selling securityholder and any other person participating in such
distribution will be subject to applicable provisions of the Exchange Act and the rules and regulations thereunder, including, without limitation, to the extent applicable, Regulation M of the Exchange Act, which may limit the timing of purchases
and sales of any of the shares of Common Stock by the selling securityholder and any other participating person. To the extent applicable, Regulation M may also restrict the ability of any person engaged in the distribution of the shares of Common
Stock to engage in market-making activities with respect to the shares of Common Stock. All of the foregoing may affect the marketability of the shares of Common Stock and the ability of any person or entity to engage in market-making activities
with respect to the shares of Common Stock. 
 We will pay all expenses of the registration of the shares of Common Stock pursuant to the
registration rights agreement, including, without limitation, Securities and Exchange Commission filing fees and expenses of compliance with state securities or “blue sky” laws; provided, however,

  
 A-3 

 
that each selling securityholder will pay all underwriting discounts and selling commissions, if any. We will indemnify the selling securityholders against certain liabilities, including some
liabilities under the Securities Act, in accordance with the registration rights agreement, or the selling securityholders will be entitled to contribution. We may be indemnified by the selling securityholders against civil liabilities, including
liabilities under the Securities Act, that may arise from any written information furnished to us by the selling securityholders specifically for use in this prospectus, in accordance with the related registration rights agreements, or we may be
entitled to contribution. 

  
 A-4 

 Annex B 

YRC WORLDWIDE INC. 

SELLING SECURITYHOLDER NOTICE AND QUESTIONNAIRE 

The undersigned holder of shares of the common stock, par value $0.01 per share of YRC Worldwide Inc. (the “Company”) issued
pursuant to: (i) several Stock Purchase Agreements, dated as of the date hereof among the Company and the respective investors listed on the respective Annex I thereto (each a “Purchase Agreement” and collectively the
“Purchase Agreements”) and (ii) several Exchange Agreements, dated as of the date hereof among the Company and the respective Purchasers thereunder (each, an “Exchange Agreement” and collectively the
“Exchange Agreements”), understands that the Company intends to file with the Securities and Exchange Commission a registration statement on Form S-3 (the “Resale Registration Statement”) for the registration and
the resale under Rule 415 of the Securities Act of 1933, as amended (the “Securities Act”), of the Registrable Securities in accordance with the terms of the Registration Rights Agreements dated December [    ],
2013 amount the Company and the other parties thereto (the “Registration Rights Agreement”). All capitalized terms not otherwise defined herein shall have the meanings ascribed thereto in the Registration Rights Agreement. 

In order to sell or otherwise dispose of any Registrable Securities pursuant to the Resale Registration Statement, a holder of Registrable
Securities generally will be required to be named as a selling securityholder in the related prospectus or a supplement thereto (as so supplemented, the “Prospectus”), deliver the Prospectus to purchasers of Registrable Securities
(including pursuant to Rule 172 under the Securities Act) and be bound by the provisions of the Purchase Agreement, Exchange Agreement and Registration Rights Agreement, as applicable (including certain indemnification provisions, as described
below). Holders must complete and deliver this Notice and Questionnaire in order to be named as selling securityholders in the Prospectus. 

Certain legal consequences arise from being named as a selling securityholder in the Resale Registration Statement and the Prospectus. Holders
of Registrable Securities are advised to consult their own securities law counsel regarding the consequences of being named or not named as a selling securityholder in the Resale Registration Statement and the Prospectus. 

NOTICE 
 The undersigned
holder (the “Selling Securityholder”) of Registrable Securities hereby gives notice to the Company of its desire for Registrable Securities owned by it and listed below in Item (3), unless otherwise specified in Item (3), to be
registered for sale or other disposition pursuant to the Resale Registration Statement. The undersigned, by signing and returning this Notice and Questionnaire, understands and agrees that it will be bound by the terms and conditions of this Notice
and Questionnaire and the Registration Rights Agreement. 
 The undersigned hereby provides the following information to the Company and
represents and warrants that such information is accurate and complete: 

  
 B-1 

 QUESTIONNAIRE 
  

	1.	Name. 

  

			
	(a)	  	Full Legal Name of Selling Securityholder:
		
		  	  

		
	(b)	  	Full Legal Name of Registered Holder (if not the same as (a) above) through which Registrable Securities Listed in Item 3 below are held:
		
		  	  

		
	(c)	  	Full Legal Name of Natural Control Person (which means a natural person who directly or indirectly alone or with others has power to vote or dispose of the securities covered by the questionnaire):
		
		  	  

  

	2.	Address for Notices to Selling Securityholder: 

  

	
	  

	  

	  

			
	  Telephone:	 	  

			
	  Fax:	 	  

			
	  Contact Person:	 	  

			
	  E-mail address of Contact Person:	 	  

  

	3.	Beneficial Ownership of Registrable Securities: 

  

			
	(a)	  	Type and Number of Registrable Securities beneficially owned:
		
		  	  

		  	  

		  	  

		
	(b)	  	Number of shares of Common Stock to be registered pursuant to this Notice for resale:
		
		  	  

		  	  

		  	  

  
 B-2 

	4.	Broker-Dealer Status: 

  

					
		 	(a)	 	Are you a broker-dealer?
	
	Yes   ̈            No  
 ̈
			
		 	(b)	 	If “yes” to Section 4(a), did you receive your Registrable Securities as compensation for investment banking services to the Company?
	
	Yes   ̈            No  
 ̈
		
	Note:	 	If no, the Commission’s staff has indicated that you should be identified as an underwriter in the Registration Statement.
			
		 	(c)	 	Are you an affiliate of a broker-dealer?
	
	Yes   ̈            No  
 ̈
			
		 	Note:	 	If yes, provide a narrative explanation below:
			
		 		 	  

		 		 	  

			
		 	(c)	 	If you are an affiliate of a broker-dealer, do you certify that you bought the Registrable Securities in the ordinary course of business, and at the time of the purchase of the Registrable Securities to be resold, you had no
agreements or understandings, directly or indirectly, with any person to distribute the Registrable Securities?
	
	Yes   ̈            No  
 ̈
			
		 	Note:	 	If no, the Commission’s staff has indicated that you should be identified as an underwriter in the Registration Statement.

  

	5.	Beneficial Ownership of Other Securities of the Company Owned by the Selling Securityholder. 

  

	
	Except as set forth below in this Item 5, the undersigned is not the beneficial or registered owner of any securities of the Company other than the Registrable Securities listed above in Item 3.
	
	Type and amount of other securities beneficially owned:
	
	  

	              

	  

	              

  
 B-3 

	6.	Relationships with the Company: 

  

	
	Except as set forth below, neither the undersigned nor any of its affiliates, officers, directors or principal equity holders (owners of 5% of more of the equity securities of the undersigned) has held any position or office or
has had any other material relationship with the Company (or its predecessors or affiliates) during the past three years.
	
	State any exceptions here:
	
	  

	  

 *********** 

The undersigned agrees to promptly notify the Company of any inaccuracies or changes in the information provided herein that may occur subsequent to the date
hereof and prior to the effective date of any applicable Resale Registration Statement. All notices hereunder shall be made in in accordance with the provisions of the Registration Rights Agreement. In the absence of any such notification, the
Company shall be entitled to continue to rely on the accuracy of the information in this Notice and Questionnaire. 
 By signing below, the undersigned
consents to the disclosure of the information contained herein in its answers to Items (1) through (6) above and the inclusion of such information in the Resale Registration Statement and the Prospectus. The undersigned understands that
such information will be relied upon by the Company in connection with the preparation or amendment of any such Registration Statement and the Prospectus. 

By signing below, the undersigned acknowledges that it understands its obligation to comply, and agrees that it will comply, with the provisions of the
Exchange Act and the rules and regulations thereunder, particularly Regulation M in connection with any offering of Registrable Securities pursuant to the Resale Registration Statement. The undersigned also acknowledges that it understands that the
answers to this Questionnaire are furnished for use in connection with Registration Statements filed pursuant to the Registration Rights Agreement and any amendments or supplements thereto filed with the Commission pursuant to the Securities Act.

 The undersigned hereby acknowledges and is advised of the following Interpretation A.65 of the July 1997 SEC Manual of Publicly Available Telephone
Interpretations regarding short selling: 
 “An Issuer filed a Form S-3 registration statement for a secondary offering of common stock which is not
yet effective. One of the selling securityholders wanted to do a short sale of common stock “against the box” and cover the short sale with registered shares after the effective date. The

  
 B-4 

 
issuer was advised that the short sale could not be made before the registration statement become effective, because the shares underlying the short sale are deemed to be sold at the time such
sale is made. There would, therefore, be a violation of Section 5 if the shares were effectively sold prior to the effective date.” 
 By
returning this Questionnaire, the undersigned will be deemed to be aware of the foregoing interpretation. 
 I confirm that, to the best of my knowledge and
belief, the foregoing statements (including without limitation the answers to this Questionnaire) are correct. 
 IN WITNESS WHEREOF the undersigned, by
authority duly given, has caused this Questionnaire to be executed and delivered either in person or by its duly authorized agent. 
  

													
	Dated:	 	  
	 		 	Beneficial Owner:	 	  

					
		 		 		 	By:	 	  

		 		 		 		 	Name:	 	
		 		 		 		 	Title:	 	

 PLEASE FAX A COPY OF THE COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE, AND RETURN THE ORIGINAL BY OVERNIGHT MAIL, TO:

 Kirkland & Ellis LLP 

300 North LaSalle Street 

Chicago, Illinois 60654 

Attention: Dennis M. Myers, P.C. 

Tel: (312) 862-2232 
 Fax:
(312) 862-2200 
 Email: dennis.myers@kirkland.com 

  
 B-5EX-10.1

 Exhibit 10.1 

SEPARATION AND RELEASE AGREEMENT 

This Separation and Release Agreement (this “Agreement”) dated as of January 31, 2014, will be effective as of the lapse
of the Revocation Period set forth in Section 9 hereof (the “Effective Date”), and is made and entered into by and between James D. Palm (“Executive” or “you”) and Gulfport Energy Corporation,
a Delaware corporation (“Gulfport” or the “Company”). 
 RECITALS: 

WHEREAS, Executive has been employed by Gulfport as its Chief Executive Officer pursuant to the terms of an employment agreement dated
November 7, 2012 (the “Employment Agreement”); 
 WHEREAS, you and the Company desire an appropriate strategy for you
to retire and amicably end your career with the Company; 
 NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth,
the parties hereto agree as follows: 
 1. Retirement as Chief Executive Officer and Director. Effective as of the close of business on
February 15, 2014 (the “Retirement Date”), you will resign as the Company’s Chief Executive Officer, as a member of the Company’s board of directors, and from all other positions that you hold as an officer, employee
or director of the Company and its affiliates. Your status as a corporate officer, director or any fiduciary position (including as a fiduciary of any employee benefit plans sponsored by the Company or any affiliate) with the Company and all
affiliates will end on the Retirement Date and you hereby agree to submit your written resignation from any such offices and positions upon request on or after the Retirement Date, effective as of the Retirement Date. 

2. Transition Consulting Services. Commencing on the Retirement Date and continuing through the Last Service Date (defined below), Executive Agrees to
provide such advice and transition assistance to the Board and management of Company as may be designated from time to time by the Company (hereinafter, the “Services”). The period between the Retirement Date and the Last Service
Date is hereinafter referred to as the “Transition Period”). During the Transition Period, you agree to spend sufficient time on Company matters so as to facilitate an orderly transition of responsibilities to the new CEO and the
Board and to make yourself available up to 25 hours per month to attend to Company matters as requested. Such services will be performed on mutually agreed upon dates and such advisory services will not unreasonably interfere with your other
business or personal activities. In providing the Services during the Transition period, you will be an independent contractor to the Company and will not be considered for any purpose to be an employee or agent of the Company and will not have the
authority to speak on behalf of or bind the Company. However, all compensation under this Agreement, including any compensation attributable to the Services will be subject to tax withholding by the Company. The Company may terminate this Agreement
immediately and without prior notice if Executive refuses to or is unable to perform the Services or is in breach of any material provision of this Agreement. Executive’s “Last Service Date” will be the last day of service as a
consultant during the period starting on the Retirement Date and ending on the third anniversary of the Retirement Date, or such earlier termination date. 

 3. Non-Competition. Due to Executive’s position with and relationship to the Company and its
affiliates, Executive has been responsible for developing and maintaining (in whole or in part) the goodwill of the Company and its affiliates. In the course of your employment by Company, you have had, and/or shall have, access to confidential or
proprietary data or information of the Company and/or any affiliates of Company. The Company is an independent oil and natural gas exploration and production company with its principal oil and natural gas properties located in the West Cote Blanche
Bay and Hackberry fields in Louisiana, the State of Ohio and in the Niobrara Formation in Colorado and equity interests in companies with oil and natural gas properties located in the Permian Basin in Texas and the Canadian Oil Sands (the foregoing
state (in the case of Ohio), regions and/or formations, together with the States of West Virginia and Pennsylvania, which are areas of expected future development in connection with the Company’s Ohio activities, are collectively referred to as
the “Restricted Territory” and all manner of oil and natural gas exploration and development operations are collectively referred to as the “Restricted Business”). To protect the Company and its affiliates’
trade secrets and relationships and goodwill with customers, during the period starting on the Retirement Date and ending on the third anniversary of the termination of Executive’s employment with the Company (the “Restriction
Period”), Executive shall not in any manner within the Restricted Territory, directly or indirectly, participate or engage in, or manage, operate, consult with, render services for or represent or own, directly or indirectly, alone or as a
partner, joint venturer, member, equity holder, employee, officer, director or otherwise, any entity that is engaged in, the Restricted Business, including without limitation, American Energy Partners, LP, or any affiliate or subsidiary entity
directly or indirectly controlled by or under common control with American Energy Partners, LP or in which Aubrey McClendon has a significant involvement as an officer, director, partner, member or equity holder or investor. Notwithstanding the
foregoing, this Section 3 shall not restrict Executive from any of the following: 
 3.1 passive ownership of one percent (1%) or
less of any (a) entity whose securities have been registered under the Securities Act of 1933, as amended, or Section 12 of the Securities Exchange Act of 1934, as amended or (b) institutionally sponsored private debt or equity
investment fund with over $100,000,000 in assets under management in which such Member does not have the ability to control or exercise any managerial influence over such fund; 

3.2 (a) passive ownership of any real estate investment property or (b) passive investments not involved in the Restricted Business having
a value less than $2,500,000 in each individual instance; or 
 3.3 active or passive involvement in oil and natural gas exploration and
production outside the Restricted Territory. 
 4. Compensation. In exchange for your transition consulting services and non-competition obligations
described above and satisfaction of all contractual obligations under the terms of the Employment Agreement, you will receive the following compensation and benefit treatment: 

  
 2 

 4.1 Payments. 

(a) Base Salary; Accrued Obligations. Through the Retirement Date, you will receive payment in respect of your accrued
and unused vacation, accrued but unpaid base salary through the Retirement Date and reimbursement of unreimbursed business expenses for which substantiation has been submitted in accordance with the Company’s policies and procedures
(collectively, the “Accrued Obligations”). 
 (b) COBRA. You will be offered the opportunity to
receive continuation coverage for yourself and your eligible dependents under the Company’s medical and dental plans pursuant to the provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”)
following the Retirement Date. Following the Retirement Date, the Company will pay the premiums to continue to cover Executive’s and any of your eligible dependents’ medical and dental benefit coverage under COBRA (provided that Executive
is eligible and timely elects COBRA coverage) until the earlier of eighteen (18) months after Executive’s separation from service on the Retirement Date and the first date that Executive and Executive’s eligible dependents are covered
under another employer’s program or the Company is no longer obligated to offer COBRA continuation coverage to Executive (the “COBRA Subsidy Payment”); provided, however, that, if the payment by the Company of the COBRA Subsidy
Payment would cause the imposition of any tax or other adverse consequences on the Company under Section 4980D of the Internal Revenue Code of 1986, as amended (the “Code”), and the regulations thereunder, including without
limitation, Section 9815(b) of the Code, the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), the Affordable Care Act, Section 2716 of the Public Health Service Act or other applicable law, the
parties agree to negotiate in good faith an alternative arrangement for providing such benefits in an economically neutral manner which does not cause the imposition of such tax and adverse consequences, and if reasonably determined by the
Company’s counsel or accountants that such alternative arrangement is not viable because the cost to the Company will exceed $20,000 (including the direct cost of providing such benefits to Executive and the imposition of any tax or other
adverse consequences on the Company under Section 4980D of the Code), then no such COBRA Subsidy Payments will be due or be made on behalf of Executive. 

(c) Severance Pay. You will be entitled to a lump sum payment of severance in an amount equal to $1,800,000, which is
equivalent to two years times the sum of (1) your annual Base Salary and (2) Minimum Annual Bonus (“Severance Pay”). 

(d) Consulting and Non-Competition Fees. As consideration for your agreement to provide transition consulting services
under Section 2 and your agreement not to compete under Section 3, you will receive consulting and non-competition fees at an annual rate of $200,000 per year, payable in arrears in three annual installments on February 15,
2015, February 15, 2016 and February 15, 2017, subject to the requirements of Section 5. Executive will be paid the consulting and non-competition fees due and payable each year through the end of the Restriction Period or
earlier termination of the Agreement. In the event of the Executive’s death or upon the occurrence of a change in control event (as defined in Treas. Reg. §1.409A-3(i)(5)(iv)), the amount of any

  
 3 

 
remaining consulting and non-competition fees will be accelerated and will be paid to the Executive, or in the event of death to the Executive’s surviving spouse or to Executive’s
estate if there is no surviving spouse, on the 60th day following the executive’s death or on the 5th business day following a change in
control event. 
 4.2 Equity Awards. All unvested stock options, restricted stock or other equity compensation granted to
Executive prior to the Retirement Date will fully vest as of the Retirement Date. In addition, as additional consideration for your agreement to provide transition consulting services under Section 2 and your agreement not to compete under
Section 3, Executive will receive a Restricted Stock Unit Award in the amount of 80,000 shares of Company common stock that will vest and be settled as follows: 
  

									
	 Vesting Date Based on Anniversary of Retirement Date
	  	Vested Shares	 	  	Settlement Date	 
	 1st Anniversary
	  	 	26,666	  	  	 	15 days after Vesting Date	  
	 2nd Anniversary
	  	 	26,666	  	  	 	15 days after Vesting Date	  
	 3rd Anniversary
	  	 	26,668	  	  	 	15 days after Vesting Date	  

 In the event of the Executive’s death or upon the occurrence of a change in control event (as defined in Treas. Reg.
§1.409A-3(i)(5)(iv)), the amount of any remaining unvested equity awards will be accelerated and will be paid to the Executive, or in the event of death to the Executive’s surviving spouse or to Executive’s estate if there is no
surviving spouse, on the 60th day following the executive’s death or on the fifth business day following a change in control event. 

4.3 Other Compensation Matters. Notwithstanding anything to the contrary contained in this Agreement (including the
Release set forth in Section 7 hereof), you hereby acknowledge that, in connection with your retirement and ceasing to be an employee of the Company, you will not be entitled to receive from the Company or an affiliate (i) any additional
severance pay or benefits except as provided in Section 4.1 and Section 4.2, or (ii) any retiree termination welfare benefits (other than health care continuation coverage that you may be entitled to elect pursuant to
Section 4980B of the Code and except as provided in Section 4.1(b)), in each case including, but not limited to any severance pay or benefits pursuant to the Employment Agreement. Your participation in all Company perquisites will cease as
of the Retirement Date. 
 5. Restrictive Covenants. The provisions of Section 4, Section 8, Section 9, and Section 10 of the
Employment Agreement will survive the termination of your employment and are incorporated in this Section 5 by reference (the “Restrictive Covenants”). Payments to you under Section 4.1 and Section 4.2 will be
conditioned on your continued compliance with the provisions of the Restrictive Covenants and the provisions of this Agreement. In the event of any violation by you of the Restrictive Covenants or the provisions of this Agreement, no further
payments will be made under Section 4.1 and no additional vesting will occur under Section 4.2. Your right to any unpaid payments under Section 4.1 and any unvested equity awards under Section 4.2 will be forfeited. 

  
 4 

 6. Cooperation. In order to ensure a smooth transition from Executive’s employment with Company,
Executive agrees to provide reasonable assistance to and cooperation with Company following the Retirement Date in connection with any Company matters for which Executive had knowledge or responsibility while employed by Company. If Company is
involved in any legal action or investigation after Executive’s Retirement Date relating to events which occurred during Executive’s employment, Executive will cooperate with the Company to the fullest extent possible in the preparation,
prosecution, or defense of the Company’s case, including, but not limited to, the execution of affidavits or documents or providing information requested by the Company. Company will reimburse Executive for reasonable pre-approved out-of-pocket
expenses and reasonable pre-approved compensation (if Executive is no longer receiving consulting and non-competition fees), taking into consideration Executive’s base salary at the Retirement Date, for time related to such assistance. 

7. Release. You hereby acknowledge that the Company’s obligations under Section 4 hereof are in excess of any payments or benefits to which
you are entitled under law, contract or otherwise and are contingent upon your timely execution of, and failure to revoke this Agreement, including the release of claims set forth in this Section 7 (the “Release”). In the event
that you do not timely execute the Agreement or if you timely revoke the Agreement as described below, the Company will have no obligations to you under this Agreement. For purposes of this Section 7, “Releasees” include the
Company and its affiliated companies and their officers, directors, shareholders, employees, agents, representatives, plans, trusts, administrators, fiduciaries, insurance companies, successors, and assigns. 

7.1 You, on behalf of yourself and your personal and legal representatives, heirs, executors, successors and assigns, hereby acknowledge full
and complete satisfaction of, and fully and forever waive, release, and discharge Releasees from any and all claims, causes of action, demands, liabilities, damages, obligations, and debts (collectively referenced as “Claims”), of
every kind and nature, whether known or unknown, suspected or unsuspected, that you hold as of the date you sign this Agreement, or at any time previously held against any Releasee, arising out of any matter whatsoever (with the exception of breach
of this Agreement). This release specifically includes, but is not limited to, any and all Claims: 
 (a) Arising out of or
in any way related to your employment with or separation of employment from the Company, or any contract or agreement between you and the Company or the termination thereof; 

(b) Arising out of or in any way related to any treatment of Executive by any of the Releasees, which shall include, without
limitation, any treatment or decisions with respect to hiring, placement, promotion, discipline, work hours, demotion, transfer, termination, compensation, performance review, or training; (iv) any statements or alleged statements by the
Company or any of the Releasees regarding Executive, whether oral or in writing; (v) any damages or injury that Executive may have suffered, including without limitation, emotional or physical injury, compensatory damages, or lost wages; or
(vi) employment discrimination, which shall include, without limitation, any individual or class claims of discrimination on the basis of age, disability, sex, race, religion, national origin, citizenship status, marital status, sexual
preference, or any other basis whatsoever. 

  
 5 

 (c) Arising under or based on the Equal Pay Act of 1963 (EPA); Title VII of the
Civil Rights Act of 1964, as amended (Title VII); Section 1981 of the Civil Rights Act of 1866 (42 U.S.C. §1981); the Civil Rights Act of 1991 (42 U.S.C. §1981a); the Americans with Disabilities Act of 1990, as amended (ADA); the
Family and Medical Leave Act of 1993, as amended (FMLA); the Genetic Information Nondiscrimination Act of 2008 (GINA); the National Labor Relations Act (NLRA); the Worker Adjustment and Retraining Notification Act of 1988 (WARN); the Uniform
Services Employment and Reemployment Rights Act (USERRA); the Rehabilitation Act of 1973; the Occupational Safety and Health Act (OSHA); the Employee Retirement Income Security Act of 1974 (ERISA) (except claims for vested benefits, if any, to which
you are legally entitled); the False Claims Act; Title VIII of the Corporate and Criminal Fraud and Accountability Act, as amended (18 U.S.C. §1514A) (Sarbanes-Oxley Act); the federal Whistleblower Protection Act and any state whistleblower
protection statute(s); or any other fair employment practices statute(s) of any state; 
 (d) Arising under or based on any
other federal, state, county or local law, statute, ordinance, decision, order, policy or regulation prohibiting employment discrimination; providing for the payment of wages or benefits (including overtime and workers’ compensation); or
otherwise creating rights or claims for employees, including, but not limited to, any and all claims alleging breach of public policy; the implied obligation of good faith and fair dealing; or any express, implied, oral or written contract,
handbook, manual, policy statement or employment practice, including, but not limited to, the Employment Agreement; or alleging misrepresentation; defamation; libel; slander; interference with contractual relations; intentional or negligent
infliction of emotional distress; invasion of privacy; assault; battery; fraud; negligence; harassment; retaliation; or wrongful discharge; and 

(e) Arising under or based on the Age Discrimination in Employment Act of 1967 (“ADEA”), as amended by the
Older Workers Benefit Protection Act (“OWBPA”), and alleging a violation thereof by any Releasee, at any time prior to the date you sign this Agreement. 

7.2 You agree that, except as set forth in this Agreement, you are not entitled to any payment or benefits from any of the Releasees,
including, but not limited to, any payments or benefits under any plan, program or agreement with any Releasee, including, but not limited to, the Employment Agreement. 

7.3 Nothing contained in this Release will (i) release any claim that cannot be waived under applicable law, (ii) release your rights
to any benefits under any employee welfare benefit plan of the Company, the 401(k) Plan or with respect to the right to elect health care continuation under COBRA, (iii) release any entitlement to or with respect to indemnification which you
may have pursuant to the Company’s bylaws, any policy of insurance maintained by the Company or otherwise under law, or (iv) be construed to release your rights under this Agreement or be construed to prohibit or restrict you in any manner
from bringing appropriate proceedings to enforce this Agreement. You acknowledge that your execution of this Agreement terminates any claims you previously held to any and all compensation and employee benefits, other than those specifically
identified in this Agreement. 

  
 6 

 7.4 By signing this Agreement, you represent that you have not commenced or joined in any claim,
charge, action or proceeding whatsoever against any of the Releasees arising out of or relating to any of the matters set forth in this paragraph 6. You further represent that you will not be entitled to any personal recovery in any action or
proceeding that may be commenced on your behalf arising out of the matters released hereby. 
 8. General Provisions.  

8.1 Severability. It is the desire and intent of the parties that the provisions of this Agreement will be enforced to the
fullest extent permissible. In the event that any one or more of the provisions of this Agreement will be held to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remainder of this Agreement will remain valid
and enforceable and continue in full force and effect to the fullest extent consistent with law. Moreover, if any one or more of the provisions contained in this Agreement is held to be excessively broad as to duration, scope, activity or subject,
such provisions will be construed by limiting and reducing them so as to be enforceable to the maximum extent compatible with applicable law. 

8.2 No Admission. By entering into this Agreement, the parties do not admit to, and expressly deny, any wrongdoing. 

8.3 Return of Property. You agree to return to the Company, on or prior to the Retirement Date, all files, records, documents,
reports, computers and other property of the Company in your possession or control, including, but not limited to, any documents or other materials containing Confidential Information, and you further agree that you will not keep, transfer or use
any copies or excerpts of the foregoing items. The Company agrees to transfer title to and Executive will be entitled to retain the Company provided automobile currently provided for his use. 

8.4 Notices. Any and all notices, requests, demands and other communications provided for by this Agreement will be in writing
and will be effective when delivered in person, consigned to a reputable national or international courier service (including Federal Express), and addressed to you at your last known address on the books of the Company or, in the case of the
Company, at the Company’s principal place of business, attention of the President of the Company, or to such other address as either party may specify by notice to the other actually received. 

8.5 Successors and Assigns. This Agreement is personal to you and, without the prior written consent of the Company, will not be
assignable by you otherwise than by will or the laws of descent and distribution. This Agreement will inure to the benefit of and be enforceable by your legal representatives. This Agreement will inure to the benefit of and be binding upon the
Company and its successors and assigns. 
 8.6 Governing Law; Captions; Amendment. This Agreement will be governed by, and
construed in accordance with, the laws of the State of Oklahoma, without reference to principles of conflict of laws. The captions of this Agreement are not part of the provisions hereof and will have no force or effect. This Agreement may not be
amended or modified except by a written agreement executed by the parties hereto or their respective successors and legal representatives. 

  
 7 

 8.7 Code Section 409A Compliance. The Company and you each hereby affirm that
it is their mutual view that the provision of payments and benefits described or referenced herein are either exempt from or intended to be in compliance with the requirements of Section 409A of the Code and the Treasury regulations relating
thereto (“Section 409A”) and that each party’s tax reporting will be completed in a manner consistent with such view. The Company and you each agree that upon the Retirement Date, you will experience a “separation from
service” for purposes of Section 409A. Any payments that qualify for the “short-term deferral” exception or another exception under Section 409A will be paid under the applicable exception. For purposes of the limitations on
nonqualified deferred compensation under Section 409A of the Code, each payment of compensation under this Agreement will be treated as a separate payment of compensation. Notwithstanding anything contained herein to the contrary, to the extent
required in order to avoid accelerated taxation and/or tax penalties under Section 409A, consulting and noncompetition fee amounts in Section 4.1(d) that would otherwise be payable pursuant to this Agreement on account of separation from
service during the six-month period immediately following the Retirement Date will instead be paid on the first business day after the date that is six months following the Retirement Date (or death, if earlier). Notwithstanding anything to the
contrary in this Agreement, all reimbursements and in-kind benefits provided under this Agreement will be made or provided in accordance with the requirements of Section 409A of the Code, including, where applicable, the requirement that
(x) the amount of expenses eligible for reimbursement, or in kind benefits provided, during a calendar year may not affect the expenses eligible for reimbursement, or in kind benefits to be provided, in any other calendar year; (y) the
reimbursement of an eligible expense will be made no later than the last day of the calendar year following the year in which the expense is incurred; and (z) the right to reimbursement or in kind benefits is not subject to liquidation or
exchange for another benefit. Neither the Company nor its affiliates will be liable in any manner for any federal, state or local income or excise taxes (including but not limited to any taxes under Sections 409A of the Code), or penalties or
interest with respect thereto, as a result of the payment of any compensation or benefits hereunder or the inclusion of any such compensation or benefits or the value thereof in your income. You acknowledge and agree that the Company will not be
responsible for any additional taxes or penalties resulting from the application of Section 409A. 
 8.8 Withholding.
Notwithstanding any other provision of this Agreement, the Company may withhold from amounts payable under this Agreement all amounts that are required or authorized to be withheld, including, but not limited to, federal, state, local and foreign
taxes to be withheld by applicable laws or regulations. 
 8.9 Preparation of Agreement. This Agreement will be interpreted in
accordance with the plain meaning of its terms and not strictly for or against any of the parties hereto. Regardless of which party initially drafted this Agreement, it will not be construed against any one party, and will be construed and enforced
as a mutually-prepared document. 

  
 8 

 8.10 Entire Agreement. This Agreement constitutes the entire agreement between you
and the Company with respect to the subjects addressed herein, and together with the Restrictive Covenants that survive in the Employment agreement, supersede all prior agreements, understandings and representations, written or oral, with respect to
those subjects, including, but not limited to the, Employment Agreement. Without limiting the generality of the foregoing, you acknowledge that the Employment Agreement (other than the Restrictive Covenants that survive pursuant to Section 5
hereof) will be terminated upon the effectiveness of this Agreement. 
 8.11 Legal Fees. The Company will reimburse you for the
legal fees, incurred by you in connection with the negotiation and execution of this Agreement, up to a maximum of $5,000. Such reimbursement will be made by the Company within twenty business days of your submission to the Company of an invoice or
invoices from counsel, which submission will be made no later than March 1, 2014. 
 8.12 Counterparts. This Agreement may
be executed in counterparts, each of which will be deemed an original, and which together will be deemed to be one and the same instrument. 
 9.
Consultation with Attorney; Voluntary Agreement. You understand and agree that you have the right and have been given the opportunity to review this Agreement and, specifically, the Release set forth in Section 7 above, with an attorney
of your choice. You also understand and agree that you are under no obligation to consent to the Release. You acknowledge that you have read this Agreement and the Release and understand their terms and that you enter into this Agreement freely,
voluntarily, and without coercion. You acknowledge that you have been given at least twenty-one (21) days during which to review and consider the provisions of this Agreement and, specifically, the Release set forth in Section 7 above,
although you may sign and return it sooner if you so desire. You further acknowledge that you have been advised by the Company that you have the right to revoke this Agreement for a period of seven (7) days after signing it (the
“Revocation Period”). You acknowledge and agree that, if you wish to revoke this Agreement, you must do so in a writing, signed by you and received by the Company to the attention of Michael Moore, President, no later than 5:00 p.m.
Central Time on the seventh (7th) day of the Revocation Period. If no such revocation occurs, the General Release and this Agreement will become effective on the eighth (8th) day following your execution of this Agreement. You further
acknowledge and agree that, in the event that you revoke this Agreement, it will have no force or effect. 
 10. Other Representations. You agree to
execute such documents and take such actions as may be necessary or desirable to further effectuate the foregoing. Executive, by his initials set forth below, acknowledges and agrees that he was given a copy of this Agreement on the
         day of January, 2014, to review and consider execution of the terms and conditions contained herein. 
  

	
	  

	Executive’s Initials

 [Signature page follows] 

  
 9 

 READ CAREFULLY BEFORE SIGNING 

THIS SEPARATION AND RELEASE AGREEMENT INCLUDES A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS AND A WAIVER OF YOUR RIGHTS UNDER THE AGE DISCRIMINATION IN
EMPLOYMENT ACT AS WELL AS OTHER FEDERAL, STATE AND LOCAL LAWS PROTECTING EMPLOYEE RIGHTS. IF YOU SIGN THIS AGREEMENT, YOU ARE WAIVING ALL OF YOUR RIGHTS TO ASSERT ANY CLAIMS UNDER THESE LAWS. PLEASE READ THIS AGREEMENT CAREFULLY AND SEEK THE ADVICE
OF AN ATTORNEY REGARDING THE LEGAL EFFECT OF SIGNING THIS AGREEMENT. 
 IN WITNESS WHEREOF, the parties hereto have executed this
Agreement on the day and year written opposite their signature. 
  

							
		 		 	“Executive”
			
	Date: January 31, 2014	 		 	 /s/ James D. Palm

		 		 	James D. Palm, an individual
			
		 		 	“Company”
		 		 	Gulfport Energy Corporation
				
	Date: January 31, 2014 	 		 	By:	 	/s/ Michael G. Moore
		 		 		 	Michael Moore, President

  
 10

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