Document:

Proposed Form of Company Order

    
      

    

    EXHIBIT
      4(d)

    [Date}

    

    

    Company
      Order and Officers’ Certificate

    ____%
      Senior Notes, Series _, due 20__

    

    

    The
      Bank
      of New York, as Trustee

    101
      Barclay St. - 8W

    New
      York,
      New York 10286

    

    Ladies
      and Gentlemen:

    

    Pursuant
      to Article Two of the Indenture, dated as of October 1, 1998 (as it may be
      amended or supplemented, the “Indenture”), from Indiana Michigan Power Company
      (the “Company”) to The Bank of New York, as trustee (the “Trustee”), and the
      Board Resolutions dated _____________, a copy of which certified by the
      Secretary or an Assistant Secretary of the Company is being delivered herewith
      under Section 2.01 of the Indenture, and unless otherwise provided in a
      subsequent Company Order pursuant to Section 2.04 of the Indenture,

    

    1. The
      Company’s ____% Senior Notes, Series _, due 20__ (the “Notes”) are hereby
      established. The Notes shall be in substantially the form attached hereto as
      Exhibit 1. 

    

    2. The
      terms
      and characteristics of the Notes shall be as follows (the numbered clauses
      set
      forth below corresponding to the numbered subsections of Section 2.01 of the
      Indenture, with terms used and not defined herein having the meanings specified
      in the Indenture):

    

    (i) the
      aggregate principal amount of Notes which may be authenticated and delivered
      under the Indenture shall be limited to $___,000,000, except as contemplated
      in
      Section 2.01 of the Indenture;

    

    (ii) the
      date
      on which the principal of the Notes shall be payable shall be __________ _,
      20__;

    

    (iii) interest
      shall accrue from the date of authentication of the Notes; the Interest Payment
      Dates on which such interest will be payable shall be _______ __ and __________
      __, and the Regular Record Date for the determination of holders to whom
      interest is payable on any such Interest Payment Date shall be the fifteenth
      day
      prior to the relevant Interest Payment Date; provided that the first Interest
      Payment Date shall be ______________ and interest payable on the Stated Maturity
      Date or any Redemption Date shall be paid to the Person to whom principal shall
      be paid;

    

    (iv) the
      interest rate at which the Notes shall bear interest shall be ____% per
      annum;

    

    (v) the
      Notes
      shall be redeemable at the option of the Company, in whole at any time or in
      part from time to time, upon not less than thirty but not more than sixty days’
previous notice given by mail to the registered owners of the Notes at a
      redemption price equal to the greater of (i) 100% of the principal amount of
      the
      Notes being redeemed and (ii) the sum of the present values of the remaining
      scheduled payments of principal and interest on the Notes being redeemed
      (excluding the portion of any such interest accrued to the date of redemption)
      discounted (for purposes of determining present value) to the redemption date
      on
      a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months)
      at the Treasury Rate (as defined below) plus 20 basis points, plus, in each
      case, accrued interest thereon to the date of redemption.

    

    “Treasury
      Rate” means, with respect to any redemption date, the rate per annum equal to
      the semi-annual equivalent yield to maturity of the Comparable Treasury Issue,
      assuming a price for the Comparable Treasury Issue (expressed as a percentage
      of
      its principal amount) equal to the Comparable Treasury Price for such redemption
      date.

    

    “Comparable
      Treasury Issue” means the United States Treasury security selected by an
      Independent Investment Banker as having a maturity comparable to the remaining
      term of the Notes that would be utilized, at the time of selection and in
      accordance with customary financial practice, in pricing new issues of corporate
      debt securities of comparable maturity to the remaining term of the
      Notes.

    

    “Comparable
      Treasury Price” means, with respect to any redemption date, (i) the average of
      the Reference Treasury Dealer Quotation for such redemption date, after
      excluding the highest and lowest such Reference Treasury Dealer Quotations,
      or
      (ii) if the Company obtains fewer than four such Reference Treasury Dealer
      Quotations, the average of all such quotations.

    

    “Independent
      Investment Banker” means one of the Reference Treasury Dealers appointed by the
      Company and reasonably acceptable to the Trustee.

    

    “Reference
      Treasury Dealer” means a primary U.S. government securities dealer in New York
      City selected by the Company and reasonably acceptable to the
      Trustee.

    

    “Reference
      Treasury Dealer Quotation” means, with respect to the Reference Treasury Dealer
      and any redemption date, the average, as determined by the Trustee, of the
      bid
      and asked prices for the Comparable Treasury Issue (expressed in each case
      as a
      percentage of its principal amount) quoted in writing to the Trustee by such
      Reference Treasury Dealer at or before 5:00 p.m., New York City time, on the
      third Business Day preceding such redemption date.

    

    
      	 	 	
              (vi)
                (a) the Notes shall be issued in the form of a Global Note; (b) the
                Depositary for such Global Note shall be The Depository Trust Company;
                and
                (c) the procedures with respect to transfer and exchange of Global
                Notes
                shall be as set forth in the form of Note attached
                hereto;

            

    

    

    (vii) the
      title
      of the Notes shall be “____% Senior Notes, Series __, due 20__”;

    

    (viii) the
      form
      of the Notes shall be as set forth in Paragraph 1, above;

    

    (ix) not
      applicable;

    

    (x) the
      Notes
      may be subject to a Periodic Offering;

    

    (xi) not
      applicable;

    

    (xii) not
      applicable;

    

    (xiii) not
      applicable;

    

    (xiv) the
      Notes
      shall be issuable in denominations of $1,000 and any integral multiple
      thereof;

    

    (xv) not
      applicable;

    

    (xvi) the
      Notes
      shall not be issued as Discount Securities;

    

    (xvii) not
      applicable;

    

    (xviii) not
      applicable; and

    

    (xix) Limitations
      on Liens:

    

    So
      long
      as any of the Notes are outstanding, the Company will not create or suffer
      to be
      created or to exist any additional mortgage, pledge, security interest, or
      other
      lien (collectively “Liens”) on any of the Company’s utility properties or
      tangible assets now owned or hereafter acquired to secure any indebtedness
      for
      borrowed money (“Secured Debt”), without providing that such Notes will be
      similarly secured. This restriction does not apply to the Company’s
      subsidiaries, nor will it prevent any of them from creating or permitting to
      exist Liens on their property or assets to secure any Secured Debt. In addition,
      this restriction does not prevent the creation or existence of:

    

    
      	·  	
              Liens
                on property existing at the time of acquisition or construction of
                such
                property (or created within one year after completion of such acquisition
                or construction), whether by purchase, merger, construction or otherwise,
                or to secure the payment of all or any part of the purchase price
                or
                construction cost thereof, including the extension of any Liens to
                repairs, renewals, replacements substitutions, betterments, additions,
                extensions and improvements then or thereafter made on the property
                subject thereto; 

            

    

    

    
      	·  	
              Financing
                of the Company’s accounts receivable for electric service;
                

            

    

    

    
      	·  	
              Any
                extensions, renewals or replacements (or successive extensions, renewals
                or replacements), in whole or in part, of liens permitted by the
                foregoing
                clauses; and

            

    

    

    
      	·  	
              The
                pledge of any bonds or other securities at any time issued under
                any of
                the Secured Debt permitted by the above
                clauses.

            

    

    

    In
      addition to the permitted issuances above, Secured Debt not otherwise so
      permitted may be issued in an amount that does not exceed 15% of Net Tangible
      Assets as defined below. 

    

    “Net
      Tangible Assets” means the total of all assets (including revaluations thereof
      as a result of commercial appraisals, price level restatement or otherwise)
      appearing on the Company’s balance sheet, net of applicable reserves and
      deductions, but excluding goodwill, trade names, trademarks, patents,
      unamortized debt discount and all other like intangible assets (which term
      shall
      not be construed to include such revaluations), less the aggregate of the
      Company’s current liabilities appearing on such balance sheet. For purposes of
      this definition, the Company's balance sheet does not include assets and
      liabilities of its subsidiaries.

    

    This
      restriction also will not apply to or prevent the creation or existence of
      leases (operating or capital) made, or existing on property acquired, in the
      ordinary course of business.

    

    3. You
      are
      hereby requested to authenticate $___,000,000 aggregate principal amount of
      ____% Senior Notes, Series __, due 20__, executed by the Company and delivered
      to you concurrently with this Company Order and Officers’ Certificate, in the
      manner provided by the Indenture.

    

    4. You
      are
      hereby requested to hold the Notes as custodian for DTC in accordance with
      the
      Blanket Issuer Letter of Representations dated November 10, 2004, from the
      Company to DTC.

    

    5. Concurrently
      with this Company Order and Officers’ Certificate, an Opinion of Counsel under
      Sections 2.04 and 13.06 of the Indenture is being delivered to you.

    

    6. The
      undersigned _____________________ and ___________________, the Assistant
      Treasurer and Assistant Secretary, respectively, of the Company do hereby
      certify that:

    

    (i) we
      have
      read the relevant portions of the Indenture, including without limitation the
      conditions precedent provided for therein relating to the action proposed to
      be
      taken by the Trustee as requested in this Company Order and Officers’
Certificate, and the definitions in the Indenture relating thereto;

    

    (ii) we
      have
      read the Board Resolutions of the Company and the Opinion of Counsel referred
      to
      above;

    

    (iii) we
      have
      conferred with other officers of the Company, have examined such records of
      the
      Company and have made such other investigation as we deemed relevant for
      purposes of this certificate;

    

    (iv) in
      our
      opinion, we have made such examination or investigation as is necessary to
      enable us to express an informed opinion as to whether or not such conditions
      have been complied with; and 

    

    
      	(v)  	
              on
                the basis of the foregoing, we are of the opinion that all conditions
                precedent provided for in the Indenture relating to the action proposed
                to
                be taken by the Trustee as requested herein have been complied
                with.

            

    

    

    Kindly
      acknowledge receipt of this Company Order and Officers’ Certificate, including
      the documents listed herein, and confirm the arrangements set forth herein
      by
      signing and returning the copy of this document attached hereto.

    

    Very
      truly yours,

    

    INDIANA
      MICHIGAN POWER COMPANY

     

    By:___________________________

    Assistant
      Treasurer

     

    And:__________________________

    Assistant
      Secretary

     

    Acknowledged
      by Trustee:

     

    By:___________________________

    Authorized
      Signatory

    
      
        

      

    Exhibit
      1

    

    Unless
      this certificate is presented by an authorized representative of The Depository
      Trust Company (55 Water Street, New York, New York) to the issuer or its agent
      for registration of transfer, exchange or payment, and any certificate to be
      issued is registered in the name of Cede & Co. or in such other name as is
      requested by an authorized representative of The Depository Trust Company and
      any payment is made to Cede & Co., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF
      FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the
      registered owner hereof, Cede & Co., has an interest herein. Except as
      otherwise provided in Section 2.11 of the Indenture, this Security may be
      transferred, in whole but not in part, only to another nominee of the Depository
      or to a successor Depository or to a nominee of such successor
      Depository.

    

    No.
      R1

     

    INDIANA
      MICHIGAN POWER COMPANY

    ____%
      Senior Notes, Series _, due 20__

     

    CUSIP:
      __________     
      Original
      Issue Date: ________________

    

    Stated
      Maturity: ____________________   
      Interest
      Rate: ____%

    

    Principal
      Amount: $___,000,000

    

    Redeemable: Yes
      þ  No
       ̈

    In
      Whole: Yes
      þ  No
       ̈

    In
      Part:  Yes
      þ  No
       ̈

    

    INDIANA
      MICHIGAN POWER COMPANY, a corporation duly organized and existing under the
      laws
      of the State of Indiana (herein referred to as the “Company”, which term
      includes any successor corporation under the Indenture hereinafter referred
      to),
      for value received, hereby promises to pay to CEDE & CO. or registered
      assigns, the Principal Amount specified above on the Stated Maturity specified
      above, and to pay interest on said Principal Amount from the Original Issue
      Date
      specified above or from the most recent interest payment date (each such date,
      an “Interest Payment Date”) to which interest has been paid or duly provided
      for, semi-annually in arrears on ______ and ___________ in each year, commencing
      on __________, at the Interest Rate per annum specified above, until the
      Principal Amount shall have been paid or duly provided for. Interest shall
      be
      computed on the basis of a 360-day year of twelve 30-day months.

    

    The
      interest so payable, and punctually paid or duly provided for, on any Interest
      Payment Date, as provided in the Indenture, as hereinafter defined, shall be
      paid to the Person in whose name this Note (or one or more Predecessor
      Securities) shall have been registered at the close of business on the Regular
      Record Date with respect to such Interest Payment Date, which shall be the
      fifteenth day (whether or not a Business Day) prior to such Interest Payment
      Date, provided that interest payable on the Stated Maturity or any redemption
      date shall be paid to the Person to whom principal is paid. Any such interest
      not so punctually paid or duly provided for shall forthwith cease to be payable
      to the Holder on such Regular Record Date and shall be paid as provided in
      said
      Indenture.

    

    If
      any
      Interest Payment Date, any redemption date or Stated Maturity is not a Business
      Day, then payment of the amounts due on this Note on such date will be made
      on
      the next succeeding Business Day, and no interest shall accrue on such amounts
      for the period from and after such Interest Payment Date, redemption date or
      Stated Maturity, as the case may be, with the same force and effect as if made
      on such date. The principal of (and premium, if any) and the interest on this
      Note shall be payable at the office or agency of the Company maintained for
      that
      purpose in the Borough of Manhattan, the City of New York, New York, in any
      coin
      or currency of the United States of America which at the time of payment is
      legal tender for payment of public and private debts; provided, however, that
      payment of interest (other than interest payable on the Stated Maturity or
      any
      redemption date) may be made at the option of the Company by check mailed to
      the
      registered holder at such address as shall appear in the Security
      Register.

    

    This
      Note
      is one of a duly authorized series of Notes of the Company (herein sometimes
      referred to as the “Notes”), specified in the Indenture, all issued or to be
      issued in one or more series under and pursuant to an Indenture dated as of
      October 1, 1998 duly executed and delivered between the Company and The Bank
      of
      New York, a corporation organized and existing under the laws of the State
      of
      New York, as Trustee (herein referred to as the “Trustee”) (such Indenture, as
      originally executed and delivered and as thereafter supplemented and amended
      being hereinafter referred to as the “Indenture”), to which Indenture and all
      indentures supplemental thereto or Company Orders reference is hereby made for a
      description of the rights, limitations of rights, obligations, duties and
      immunities thereunder of the Trustee, the Company and the holders of the Notes.
      By the terms of the Indenture, the Notes are issuable in series which may vary
      as to amount, date of maturity, rate of interest and in other respects as in
      the
      Indenture provided. This Note is one of the series of Notes designated on the
      face hereof.

    

    This
      Note
      may be redeemed by the Company at its option, in whole at any time or in part
      from time to time, upon not less than thirty but not more than sixty days’ prior
      notice given by mail to the registered owners of the Notes at a redemption
      price
      equal to the greater of (i) 100% of the principal amount of the Notes being
      redeemed and (ii) the sum of the present values of the remaining scheduled
      payments of principal and interest on the Notes being redeemed (excluding the
      portion of any such interest accrued to the date of redemption) discounted
      (for
      purposes of determining present value) to the redemption date on a semi-annual
      basis (assuming a 360-day year consisting of twelve 30-day months) at the
      Treasury Rate (as defined below) plus 20 basis points, plus, in each case,
      accrued interest thereon to the date of redemption.

    

    “Treasury
      Rate” means, with respect to any redemption date, the rate per annum equal to
      the semi-annual equivalent yield to maturity of the Comparable Treasury Issue,
      assuming a price for the Comparable Treasury Issue (expressed as a percentage
      of
      its principal amount) equal to the Comparable Treasury Price for such redemption
      date.

    

    “Comparable
      Treasury Issue” means the United States Treasury security selected by an
      Independent Investment Banker as having a maturity comparable to the remaining
      term of the Notes that would be utilized, at the time of selection and in
      accordance with customary financial practice, in pricing new issues of corporate
      debt securities of comparable maturity to the remaining term of the
      Notes.

    

    

    “Comparable
      Treasury Price” means, with respect to any redemption date, (1) the average of
      the Reference Treasury Dealer Quotations for such redemption date, after
      excluding the highest and lowest such Reference Treasury Dealer Quotations,
      or
      (2) if we obtain fewer than four such Reference Treasury Dealer Quotations,
      the
      average of all such quotations.

    

    “Independent
      Investment Banker” means one of the Reference Treasury Dealers appointed by the
      Company and reasonably acceptable to the Trustee.

    

    “Reference
      Treasury Dealer” means a primary U. S. government securities dealer in New York
      City selected by the Company and reasonably acceptable to the
      Trustee.

    

    “Reference
      Treasury Dealer Quotation” means, with respect to the Reference Treasury Dealer
      and any redemption date, the average, as determined by the Trustee, of the
      bid
      and asked prices for the Comparable Treasury Issue (expressed in each case
      as a
      percentage of its principal amount) quoted in writing to the Trustee by such
      Reference Treasury Dealer at or before 5:00 p.m., New York City time, on the
      third Business Day preceding such redemption date.

    

    The
      Company shall not be required to (i) issue, exchange or register the transfer
      of
      any Notes during a period beginning at the opening of business 15 days before
      the day of the mailing of a notice of redemption of less than all the
      outstanding Notes of the same series and ending at the close of business on
      the
      day of such mailing, nor (ii) register the transfer of or exchange of any Notes
      of any series or portions thereof called for redemption. This Global Note is
      exchangeable for Notes in definitive registered form only under certain limited
      circumstances set forth in the Indenture.

    

    In
      the
      event of redemption of this Note in part only, a new Note or Notes of this
      series, of like tenor, for the unredeemed portion hereof will be issued in
      the
      name of the Holder hereof upon the surrender of this Note.

    

    In
      case
      an Event of Default, as defined in the Indenture, shall have occurred and be
      continuing, the principal of all of the Notes may be declared, and upon such
      declaration shall become, due and payable, in the manner, with the effect and
      subject to the conditions provided in the Indenture.

    

    The
      Indenture contains provisions for defeasance at any time of the entire
      indebtedness of this Note upon compliance by the Company with certain conditions
      set forth therein.

    

    As
      described in the Company Order and Officers’ Certificate, so long as this Note
      is outstanding, the Company is subject to a limitation on Liens as described
      therein.

    

    The
      Indenture contains provisions permitting the Company and the Trustee, with
      the
      consent of the Holders of not less than a majority in aggregate principal amount
      of the Notes of each series affected at the time outstanding, as defined in
      the
      Indenture, to execute supplemental indentures for the purpose of adding any
      provisions to or changing in any manner or eliminating any of the provisions
      of
      the Indenture or of any supplemental indenture or of modifying in any manner
      the
      rights of the Holders of the Notes; provided, however, that no such supplemental
      indenture shall (i) extend the fixed maturity of any Notes of any series, or
      reduce the principal amount thereof, or reduce the rate or extend the time
      of
      payment of interest thereon, or reduce any premium payable upon the redemption
      thereof, or reduce the amount of the principal of a Discount Security that
      would
      be due and payable upon a declaration of acceleration of the maturity thereof
      pursuant to the Indenture, without the consent of the holder of each Note then
      outstanding and affected; (ii) reduce the aforesaid percentage of Notes, the
      holders of which are required to consent to any such supplemental indenture,
      or
      reduce the percentage of Notes, the holders of which are required to waive
      any
      default and its consequences, without the consent of the holder of each Note
      then outstanding and affected thereby; or (iii) modify any provision of Section
      6.01(c) of the Indenture (except to increase the percentage of principal amount
      of securities required to rescind and annul any declaration of amounts due
      and
      payable under the Notes), without the consent of the holder of each Note then
      outstanding and affected thereby. The Indenture also contains provisions
      permitting the Holders of a majority in aggregate principal amount of the Notes
      of all series at the time outstanding affected thereby, on behalf of the Holders
      of the Notes of such series, to waive any past default in the performance of
      any
      of the covenants contained in the Indenture, or established pursuant to the
      Indenture with respect to such series, and its consequences, except a default
      in
      the payment of the principal of or premium, if any, or interest on any of the
      Notes of such series. Any such consent or waiver by the registered Holder of
      this Note (unless revoked as pro-vided in the Indenture) shall be conclusive
      and
      binding upon such Holder and upon all future Holders and owners of this Note
      and
      of any Note issued in exchange herefor or in place hereof (whether by
      registration of transfer or otherwise), irrespective of whether or not any
      notation of such consent or waiver is made upon this Note.

    

    No
      reference herein to the Indenture and no provision of this Note or of the
      Indenture shall alter or impair the obligation of the Company, which is absolute
      and unconditional, to pay the principal of and premium, if any, and interest
      on
      this Note at the time and place and at the rate and in the money herein
      prescribed.

    

    As
      provided in the Indenture and subject to certain limitations therein set forth,
      this Note is transferable by the registered holder hereof on the Security
      Register of the Company, upon surrender of this Note for registration of
      transfer at the office or agency of the Company as may be designated by the
      Company accompanied by a written instrument or instruments of transfer in form
      satisfactory to the Company or the Trustee duly executed by the registered
      Holder hereof or his or her attorney duly authorized in writing, and thereupon
      one or more new Notes of authorized denominations and for the same aggregate
      principal amount and series will be issued to the designated transferee or
      transferees. No service charge will be made for any such trans-fer, but the
      Company may require payment of a sum sufficient to cover any tax or other
      governmental charge payable in relation thereto.

    

    Prior
      to
      due presentment for registration of transfer of this Note, the Company, the
      Trustee, any paying agent and any Security Registrar may deem and treat the
      registered Holder hereof as the absolute owner hereof (whether or not this
      Note
      shall be overdue and notwithstanding any notice of ownership or writing hereon
      made by anyone other than the Security Registrar) for the purpose of receiving
      payment of or on account of the principal hereof and premium, if any, and
      interest due hereon and for all other purposes, and neither the Company nor
      the
      Trustee nor any paying agent nor any Security Registrar shall be affected by
      any
      notice to the contrary.

    

    No
      recourse shall be had for the payment of the principal of or the interest on
      this Note, or for any claim based hereon, or otherwise in respect hereof, or
      based on or in respect of the Indenture, against any incorporator, stockholder,
      officer or director, past, present or future, as such, of the Company or of
      any
      predecessor or successor corporation, whether by virtue of any constitution,
      statute or rule of law, or by the enforcement of any assessment or penalty
      or
      otherwise, all such liability being, by the acceptance hereof and as part of
      the
      consideration for the issuance hereof, expressly waived and
      released.

    

    The
      Notes
      of this series are issuable only in registered form without coupons in
      denominations of $1,000 and any integral multiple thereof. As provided in the
      Indenture and subject to certain limitations, Notes of this series are
      exchangeable for a like aggregate principal amount of Notes of this series
      of a
      different authorized denomination, as requested by the Holder surrendering
      the
      same.

    

    All
      terms
      used in this Note which are defined in the Indenture shall have the meanings
      assigned to them in the Indenture.

    

    This
      Note
      shall not be entitled to any benefit under the Indenture hereinafter referred
      to, be valid or become obligatory for any purpose until the Certificate of
      Authentication hereon shall have been signed by or on behalf of the
      Trustee.

    

    IN
      WITNESS WHEREOF, the Company has caused this Instrument to be
      executed.

    

    INDIANA
      MICHIGAN POWER COMPANY

    

    By:___________________________

    Assistant
      Treasurer

    Attest:

    

    By:___________________________

    Assistant
      Secretary

    
      
        

      

    

     

    CERTIFICATE
      OF AUTHENTICATION

    

    This
      is
      one of the Notes of the series of Notes designated in accordance with, and
      referred to in, the within-mentioned Indenture.

    

    Dated:
      ____________ __, ____

    

    THE
      BANK
      OF NEW YORK

     

    By:___________________________

    Authorized
      Signatory

    
      
        

      

    

     

    FOR
      VALUE
      RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
      unto

    

    (PLEASE
      INSERT SOCIAL SECURITY OR OTHER

    IDENTIFYING
      NUMBER OF ASSIGNEE)

    

    _______________________________________

    

    ________________________________________________________________

    

    ________________________________________________________________

    (PLEASE
      PRINT OR TYPE NAME AND ADDRESS, INCLUDING ZIP CODE, OF

    ________________________________________________________________

    ASSIGNEE)
      the within Note and all rights thereunder, hereby

    ________________________________________________________________

    irrevocably
      constituting and appointing such person attorney to 

    ________________________________________________________________

    transfer
      such Note on the books of the Issuer, with full

    ________________________________________________________________

    power
      of
      substitution in the premises.

    

    Dated:________________________  _________________________

    

    NOTICE: The
      signature to this assignment must correspond with the name as written upon
      the
      face of the within Note in every particular, without alteration or enlargement
      or any change whatever and NOTICE: Signature(s) must be guaranteed by a
      financial institution that is a member of the Securities Transfer Agents
      Medallion Program (“STAMP”), the Stock Exchange Medallion Program (“SEMP”) or
      the New YorkForm of Amended and Restated Change in Control Agreement

    EXHIBIT 10.1

     

    

      FORM
        OF

      AMENDED
        AND RESTATED

      CHANGE
        IN CONTROL AGREEMENT

      

      

      THIS
        AMENDED AND RESTATED CHANGE IN CONTROL AGREEMENT (this
“Agreement”) is made as of DATE by and between Frozen Food Express
        Industries, Inc., a Texas corporation (the “Company”) and NAME (the
“Executive”).

      

      

      RECITALS

      

      A. The
        Board of Directors of Company (the “Board”) has
        determined that the interests of the Company will be advanced by providing
        the
        key executives of the Company with certain benefits in the event of the
        termination of employment of any such executive in connection with or following
        a Change in Control (as hereinafter defined).

      

      B. The
        Board believes that such benefits will enable the
        Company to continue to attract and retain competent and qualified executives,
        will assure continuity and cooperation of management and will encourage such
        executives to diligently perform their duties without personal financial
        concerns, thereby enhancing shareholder value and ensuring a smooth transition.
        

      

      C. The
        Executive is a key executive of the Company.

      

      D. The
        Company and the Executive previously entered into a
        Change in Control Agreement dated as of _______________ (the “Original
        Agreement”).

      

      E. The
        Company and the Executive desire to amend and restate
        the Original Agreement.

      

      AGREEMENTS

      

      NOW,
        THEREFORE, for good and valuable consideration, including the
        mutual covenants set forth herein, the parties hereto agree as follows:

      

      1. Definitions.
        The following terms shall have the following
        meanings for purposes of this Agreement.

      

      “Affiliate”
means
        any entity controlled by, controlling or under
        common control with, the Company.

      

      “Annual
        Pay” means the sum of (a) an amount equal to the sum of
        the current annual base salary, the current annual car allowance and Christmas
        bonus payable to the Executive by the Company or any Related Corporation
        at the
        time of the termination of his employment, provided such base salary shall
        not
        be less than the base salary of the Executive at the time of Change in Control,
        plus (b) an amount equal to the Bonus for the Executive for the fiscal year
        in
        which his termination of employment occurs.

      

      

      “Bonus”
means
        the sum of (a) an amount equal to ninety percent
        (90%) of the Executive’s base pay for the year of termination of his employment
        plus (b) an amount equal to the Incentive Bonus Plan’s total incentive bonus
        payable to the Executive under the plan for the year of termination of his
        employment.

      

      “Cause”
means
        the Executive’s (a) willful and intentional material
        breach of this Agreement, (b) willful and intentional misconduct or gross
        negligence in the performance of or willful neglect of, the Executive’s duties,
        which has caused material injury (monetary or otherwise) to the Company or
        any
        Related Corporation, or (c) conviction of, or plea of nolo contendere to,
        a
        felony; provided, however, that no act or omission shall constitute “Cause” for
        purposes of this Agreement unless the Board or the Chief Executive Officer
        of
        the Company provides to the Executive (i) written notice clearly and fully
        describing the particular acts or omissions which the Board or the Chief
        Executive Officer of the Company reasonably believes in good faith constitutes
        “Cause” and (ii) an opportunity, within thirty (30) days following his receipt
        of such notice, to meet in person with the Board or the Chief Executive Officer
        of the Company to explain or defend the alleged acts or omissions relied
        upon by
        the Board or the Chief Executive Officer of the Company and, to the extent
        practicable to cure such acts or omissions. Further, no act or omission shall
        be
        considered as “willful” or “intentional” if the Executive reasonably believed
        such acts or omissions were in the best interests of the Company.

      

      “Change
        in Control” means (a) any “person” (as such term is used
        in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended
        (the “Exchange Act”)) that does not currently own a five percent (5%) or
        greater equity interest in the Company or any Related Corporation who becomes
        the “beneficial owner” (as determined pursuant to Rule 13d-3 under the Exchange
        Act), directly or indirectly, of securities of the Company or any Related
        Corporation representing fifteen percent (15%) or more of the combined voting
        power of the Company’s or Related Corporation’s, as the case may be, then
        outstanding voting securities; or (b) a change in the composition of the
        Board
        occurring within a two (2) year period, as a result of which fewer than a
        majority of the directors are Incumbent Directors; or (c) the Company or
        any
        Related Corporation shall merge with or consolidate into any other corporation,
        other than a merger or consolidation which would result in the holders of
        the
        voting securities of the Company or any Related Corporation, as the case
        may be,
        outstanding immediately prior thereto holding immediately thereafter securities
        representing more than sixty percent (60%) of the combined voting power of
        the
        voting securities of the Company or any Related Corporation, as the case
        may be,
        or such surviving entity (or its ultimate parent, if applicable) outstanding
        immediately after such merger or consolidation; or (d) the equity holders
        of the
        Company or any Related Corporation approve a plan of complete liquidation
        of the
        Company or any Related Corporation or the consummation of an agreement for
        the
        sale or disposition by the Company or any Related Corporation of all or
        substantially all of the Company’s or Related Corporation’s assets and such plan
        or agreement becomes effective, other than liquidation or sale which would
        result in the Company directly or indirectly owning such interest or
        assets.

      

      “Code”
means
        the Internal Revenue Code of 1986, as amended.

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      “Confidential
        Information” means all information, whether oral or
        written, previously or hereafter developed, acquired or used by the Company
        or
        any Affiliate and relating to the business of the Company or any Affiliate
        that
        is not generally known to others in the Company’s area of business, including
        without limitation trade secrets, methods or practices developed by the Company
        or any Affiliate, financial results or plans, customer or client lists,
        personnel information, information relating to negotiations with clients
        or
        prospective clients, proprietary software, databases, programming or data
        transmission methods, or copyrighted materials (including without limitation,
        brochures, layouts, letters, art work, copy, photographs or illustrations).
        It
        is expressly understood that the foregoing list shall be illustrative only
        and
        is not intended to be an exclusive or exhaustive list of “Confidential
        Information.”

      

      “First
        Window Period” shall mean the ten (10) day period
        immediately following a Change in Control.

      

      “Good
        Reason” means any of the following events occurring, without
        the Executive’s prior written consent specifically referring to this Agreement,
        within the Transition Period following a Change in Control:

      

      (a) (i)
        any reduction in the amount of the Executive’s Annual
        Pay, (ii) any reduction in the amount of Executive’s other long-term aggregate
        incentive compensation opportunities, or (iii) any significant reduction
        in the
        aggregate value of the Executive’s benefits as in effect from time to time
        (unless in the case of either (ii) or (iii), such reduction is pursuant to
        a
        general change in compensation or benefits applicable to all similarly situated
        employees of the Company and its Affiliates);

      

      (b) (i)
        the removal of the Executive from the position held
        by him immediately prior to the Change in Control, or (ii) any other significant
        reduction in the nature or status of the Executive’s duties or responsibilities
        from those in effect immediately prior to the Change in Control;

      

      (c) the
        failure by the Company or Related Corporation to pay
        Executive any portion of Executive’s current compensation, or to pay Executive
        any portion of an installment of deferred compensation under any compensation
        program of the Company or Related Corporation within seven (7) days of the
        date
        such compensation is due;

      

      (d) the
        failure by the Company or Related Corporation to
        provide Executive with the number of paid vacation days to which Executive
        is
        entitled on the basis of years of service with the Company or Related
        Corporation in accordance with the Company’s or Related Corporation’s normal
        vacation policy in effect at the time of the Change in Control; 

      

      (e) transfer
        of the Executive’s principal place of employment
        to a metropolitan area other than that of the Executive’s place of employment
        immediately prior to the Change in Control without the Executive’s consent;
        or

      

      (f) failure
        by the Company or Related Corporation to obtain
        the assumption agreement referred to in Section 11 of this Agreement prior
        to
        the effectiveness of any succession referred to therein, unless the purchaser,
        successor or assignee referred to therein is bound to perform this Agreement
        by
        operation of law.

      

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      “Incumbent
        Directors” means directors who either (a) are directors
        of the Company as of the date hereof or (b) are elected, or nominated for
        election, to the Board with the affirmative votes of at least a majority
        of the
        Incumbent Directors at the time of such election or nomination (but shall
        not
        include an individual whose election or nomination is in connection with
        an
        actual or threatened proxy contest relating to the election of directors
        of the
        Company).

      

      “Related
        Corporation” shall mean FFE, Inc., a Delaware corporation
        and wholly owned subsidiary of the Company, and FFE Transportation Services,
        Inc., a Delaware corporation and wholly owned subsidiary of FFE, Inc.

      

      “Second
        Window Period” shall mean the thirty (30) day period
        immediately following the Transition Period.

      

      “Termination
        Pay” means a payment made by the Company to the
        Executive pursuant to Sections 2(a)(ii) and (iii).

      

      “Transition
        Period” shall mean the six (6) month period
        immediately following a Change in Control.

      

      “Without
        Cause” means a termination of the Executive’s employment
        by the Company or Related Corporation other than due to disability or for
        Cause.

      

      2. Termination
        Payment and Benefits. 

      

      (a) Termination
        Following Change in Control. In the
        event that the Executive’s employment with the Company or Related Corporation is
        terminated during the Transition Period by the Company or Related Corporation
        Without Cause, or by the Executive for Good Reason during the Transition
        Period
        or in the event the Executive terminates his employment for any reason during
        the First Window Period or the Second Window Period, the Executive shall
        be
        entitled to the following payments and other benefits:

      

      (i) A
        cash payment in an amount equal to the sum of (a) the
        Executive’s accrued and unpaid base salary, car allowance and Christmas bonus as
        the date of termination plus (b) his accrued and unpaid bonus, if any, for
        the
        prior fiscal year plus (c) a percentage of the year worked times the Bonus
        for
        the current year. This amount shall be paid on the date of the Executive’s
        termination of employment.

      

      (ii) A
        cash payment in an amount equal to two and nine-tenths
        (2.9) times the Executive’s Annual Pay. This amount shall be paid in accordance
        with Section 2(c) hereof.

      

      (iii) A
        cash payment in an amount equal to the Executive’s
        unvested account balance under the Company’s or Related Corporation’s 401(k)
        Savings Plan and 401(k) Wrap Plan. This amount shall be paid in accordance
        with
        Section 2(c) hereof.

      

      

      (iv) Executive
        and his eligible dependents shall be entitled
        for a period of two (2) years following his date of termination of employment
        to
        continued coverage, at the same premium rate charged when actively employed,
        under the Company’s or any Related Corporation’s group health, dental, long-term
        disability, Exec-U-Care Medical Reimbursement Insurance Plan and life insurance
        as in effect from time to time (but not any other welfare benefit plans or
        any
        retirement plans); provided that coverage under any particular benefit plan
        shall expire with respect to the period after the Executive becomes covered
        under another employer’s plan providing for a similar type of benefit. In the
        event the Company or Related Corporation is unable to provide such coverage
        on
        account of any limitations under the terms of any applicable contract with
        an
        insurance carrier or third party administrator, the Company or Related
        Corporation shall pay the Executive an amount equal to the cost of such
        coverage.

      

      (v) All
        of the
        Executive’s unvested options, restricted stock, stock units, performance share
        or other awards, if any, based on or related to equity securities of the
        Company
        or its Affiliates under any plan in which the Executive participates and
        which
        was identified as an executive compensation plan in the exhibits to the
        Company’s most recent filing with the SEC that shall automatically vest on a
        Change in Control (as defined in the applicable plan). The Company shall
        promptly cause any related award agreements to be amended as necessary to
        provide for such accelerated vesting. In the event of any conflict between
        this
        provision and the provisions of any stock option, restricted or similar award
        agreements entered into before or after the effective date of this Agreement,
        the foregoing provision shall control. 

       

      

      (b) No
        Duplication; Other Severance Pay. There shall
        be no duplication of severance pay in any manner. In this regard, the Executive
        shall not be entitled to termination payments hereunder for more than one
        position with the Company and its Affiliates. If the Executive is entitled
        to
        any notice or payment in lieu of any notice of termination of employment
        required by Federal, state or local law, including but not limited to the
        Worker
        Adjustment and Restraining Notification Act, the severance compensation to
        which
        the Executive would otherwise be entitled under this Agreement shall be reduced
        by the amount of any such payment, in lieu of notice. If Executive is entitled
        to any severance or termination payments under any employment or other agreement
        with the Company or any of its Affiliates, the severance compensation to
        which
        Executive would otherwise be entitled under this Agreement shall be reduced
        by
        the amount of such payment. Except as set forth above, the foregoing payments
        and benefits shall be in addition to and not in lieu of any payments or benefits
        to which the Executive and his dependents may otherwise be entitled to under
        the
        Company’s or Related Corporation’s compensation and employee benefit plans.
        Nothing herein shall be deemed to restrict the right of the Company or Related
        Corporation from amending or terminating any such plan in a manner generally
        applicable to similarly situated active employees of the Company and its
        Affiliates, in which event the Executive shall be entitled to participate
        on the
        same basis (including payment of applicable contributions) as similarly situated
        active executives of the Company and its Affiliates.

      

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      (c) Mutual
        Release. Termination Pay shall be
        conditioned upon the execution by the Executive and the Company of a valid
        mutual release, in the form attached hereto as Exhibit A, pursuant to which
        the
        Executive and the Company shall each mutually release each other, to the
        maximum
        extent permitted by law, from any and all claims either party may have against
        the other as of the date of termination that relate to or arise out of the
        employment or termination of employment of the Executive, except such claims
        arising under this Agreement, any employee benefit plan, or any other written
        plan or agreement (a “Mutual Release”). The full amount of Termination
        Pay shall be paid in a lump sum in cash to the Executive within ten (10)
        days
        following receipt by the Company of a Mutual Release which is properly executed
        by the Executive; provided, however, that in the event applicable law allows the
        Executive to revoke the Mutual Release for a period of time, and the Mutual
        Release is not revoked during such period, the full amount of Termination
        Pay
        shall be paid to the Executive following the expiration of such period.

      

      

      3.
 
Additional
        Change in Control Benefits. Except to the
        extent released under the terms of the Mutual Release, Executive shall be
        entitled to such additional change in control benefits as are provided under
        the
        Frozen Food Express Industries, Inc. 2005 Stock Incentive Plan, the FFE
        Transportation Services, Inc. Supplemental Executive Retirement Plan, the
        FFE
        Transportation Services, Inc. 1999 Executive Bonus and Phantom Stock Plan,
        the
        FFE Transportation Services, Inc. 2005 Executive Bonus and Restricted Stock
        Plan
        , the FFE Transportation Services, Inc. 1994 Incentive Bonus Plan, Frozen
        Food
        Express Industries, Inc. 401(k) Savings Plan and the FFE Transportation
        Services, Inc. 401(k) Wrap Plan, as approved and adopted by the Board.

      

      4.
 Excise
        Taxes.

      

      (a) Gross-Up
        Payment. Anything in this Agreement to
        the contrary notwithstanding and except as set forth below, if it is determined
        that any payment or distribution (a “Payment”) by the Company to or for
        the benefit of the Executive (whether paid or payable or distributed or
        distributable pursuant to the terms of this Agreement or otherwise) including,
        without limitation, vesting of options, would be subject to the excise tax
        imposed by Section 4999 of the Code, or if any interest or penalties are
        incurred by the Executive with respect to such excise tax (such excise tax,
        together with any such interest and penalties, being hereinafter collectively
        referred to as the “Excise Tax”), then the Executive shall be entitled to
        receive an additional payment (a “Gross-Up Payment”) in an amount
        sufficient to pay all taxes (including any interest or penalties imposed
        with
        respect to such taxes), including, without limitation, any income taxes (and
        any
        interest and penalties imposed with respect thereto) and Excise Tax imposed
        upon
        the Gross-Up Payment.

      

      

      (b) Calculation
        of Gross-Up Payment. Subject to the
        provisions of paragraph (c) of this Section 5, all determinations required
        to be made under this Section 5, including whether and when a Gross-Up Payment
        is required and the amount of such Gross-Up Payment and the assumptions to
        be
        used in arriving at such determination, shall be made by a certified public
        accounting firm selected by the Company and reasonably acceptable to the
        Executive (the “Accounting Firm”), which shall be retained to provide
        detailed supporting calculations both to the Company and the Executive. If
        the
        Accounting Firm is serving as accountant or auditor for the individual, entity
        or group effecting the Change in Control, the Executive shall have the right
        to
        appoint another nationally recognized accounting firm to make the determinations
        required hereunder (which accounting firm shall then be referred to as the
        Accounting Firm hereunder). All fees and expenses of the Accounting Firm
        shall
        be paid solely by the Company. Any Gross-Up Payment, as determined pursuant
        to
        this Section 5, shall be paid by the Company to the Executive within five
        (5)
        days of the receipt of the Accounting Firm’s determination. Any determination by
        the Accounting Firm shall be binding upon the Company and the Executive.
        As a
        result of the uncertainty in the application of Section 4999 of the Code
        at the
        time of the initial determination by the Accounting Firm hereunder, it is
        possible that Gross-Up Payments which should have been made will not have
        been
        made by the Company (“Underpayment”), consistent with the calculations
        required to be made hereunder. If the Company exhausts its remedies pursuant
        to
        paragraph (c) of this Section 5 and the Executive thereafter is required
        to pay
        an Excise Tax in an amount that exceeds the Gross-Up Payment received by
        the
        Executive, the Accounting Firm shall determine the amount of the Underpayment
        that has occurred and any such Underpayment shall be paid by the Company
        to or
        for the benefit of the Executive.

      

      (c) Contested
        Taxes. The Executive shall notify the
        Company in writing of any claim by the Internal Revenue Service that, if
        successful, would result in an Underpayment. Such notification shall be given
        as
        soon as practicable but not later than ten (10) business days after the
        Executive is informed in writing of such claim and shall apprise the Company
        of
        the nature of such claim and the date on which such claim is requested to
        be
        paid or appealed. The Executive shall not pay such claim prior to the expiration
        of the 30-day period following the date on which it gives such notice to
        the
        Company (or such shorter period ending on the date that any payment of taxes
        with respect to such claim is due). If the Company notifies the Executive
        in
        writing prior to the expiration of such period that it desires to contest
        such
        claim, the Executive shall:

      

      (i) give
        the Company any information reasonably requested by
        the Company relating to such claim,

      

      (ii) take
        such action in connection with contesting such
        claims as the Company shall reasonably request in writing from time to time,
        including, without limitation, accepting legal representation with respect
        to
        such claim by an attorney reasonably selected by the Company,

      

      (iii) cooperate
        with the Company in good faith in order to
        effectively contest such claim, and

      

      (iv) permit
        the Company to participate in any proceedings
        relating to such claim;

      

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      provided,
        however, that the Company shall bear and pay
        directly all costs and expenses (including additional interest and penalties)
        incurred in connection with such contest and shall indemnify and hold the
        Executive harmless, on an after-tax basis, for any Excise Tax or income tax
        (including interest and penalties with respect thereto) imposed as a result
        of
        such representation and payment of costs and expenses. Without limitation
        on the
        foregoing provisions of this paragraph (c), the Company shall control all
        proceedings taken in connection with such contest and, at its sole option,
        may
        pursue or forego any and all administrative appeals, proceedings, hearings
        and
        conferences with the taxing authority in respect of such claim and may, at
        its
        sole option, either direct the Executive to pay the tax claimed and sue for
        a
        refund or to contest the claim in any permissible manner, and the Executive
        agrees to prosecute such contest to a determination before any administrative
        tribunal, in a court of initial jurisdiction and in one or more appellate
        courts, as the Company shall determine; provided, however, that if the
        Company directs the Executive to pay such claim and sue for a refund, the
        Company shall advance the amount of such payment to the Executive, on an
        interest-free basis, and shall indemnify and hold the Executive harmless,
        on an
        after-tax basis, from any Excise Tax or indemnity and hold the Executive
        harmless, on an after-tax basis, from any Excise Tax or income tax (including
        interest or penalties with respect thereto) imposed with respect to such
        advance
        or with respect to any imputed income with respect to such advance; and
further provided that any extension of the statute of limitations
        relating to payment of taxes for the taxable year of the Executive with respect
        to which such contested amount is claimed to be due is limited solely to
        such
        contested amount. Furthermore, the Company’s control of the contest shall be
        limited to issues with respect to the amount of the Gross-Up Payment, and
        the
        Executive shall be entitled to settle or contest, as the case may be, any
        other
        issue raised by the Internal Revenue Service or any other taxing
        authority.

      

      (d) Refunds.
        If, after the receipt by the Executive of
        an amount advanced by the Company pursuant to this Section 5, the Executive
        becomes entitled to receive any refund with respect to such claim, the Executive
        shall promptly pay to the Company the amount of such refund (together with
        any
        interest paid or credited thereon after taxes applicable thereto).

      

      5.
        Legal Fees. The Company shall reimburse the Executive for all
        legal fees and other costs incurred in enforcing this Agreement.
  

      

      6.
        Certain Covenants by the Executive.

      

      

      (a) Covenant
        Not to Compete. For the consideration
        described in this Agreement to be paid to Executive, Executive agrees that
        during the term of his employment with the Company or Related Corporation
        and
        for a period of one (1) year following the close of business on the date
        of the
        termination his of employment he will not (except as a consultant to the
        Company
        or an Affiliate), jointly or independently, directly or indirectly, engage
        in
        and/or participate in the cold-storage warehousing business or the motor
        carrier
        business for transportation of dry (non-perishable and non-temperature
        controlled), perishable and/or temperature controlled truckload,
        less-than-truckload (“LTL”) and/or distribution shipments rated as LTL
        shipments or distribution shipments, respectively, according to the provisions
        of tariffs and shipper contracts to which the Company or an Affiliate is
        a
        party, either as a common motor carrier, contract motor carrier, freight
        transportation broker, third-party logistics provider or otherwise, in
        interstate commerce, in intrastate commerce and/or in international commerce
        (the “Competing Business”) within the forty-eight (48) contiguous states
        of the continental United States. It is recognized and agreed that Executive
        has
        conducted motor carrier operations in interstate commerce, in intrastate
        commerce and in international commerce for several years and has accumulated
        expertise and familiarity with operations involving the Competing Business
        on a
        national and international basis. Executive further agrees, acknowledges
        and
        solemnly declares that he has appreciable knowledge, experience and expertise
        in
        the motor freight business, the freight transportation broker business and
        the
        third-party logistics provider business, and that his being in competition
        with
        the Company or any Affiliate would be extremely detrimental to the Company
        or
        the Affiliate, and accordingly, Executive covenants, warrants and agrees
        that
        during the term of his employment and during the one (1) year period described
        herein, he will not, jointly or independently, directly or indirectly, take
        or
        permit to be taken on his behalf any action making use of such expertise,
        knowledge or information in a Competing Business (provided that the Executive
        shall not be restricted hereby from owning or acquiring 5% or less of the
        outstanding voting securities of a public company that engages in such
        business), provided that, the foregoing restriction will terminate immediately
        if the Executive’s employment with the Company or Related Corporation is
        terminated by the Company or the Related Corporation Without Cause or by
        the
        Executive for Good Reason. The foregoing provision is not intended to override,
        supersede, reduce, modify or affect in any manner any other noncompetition
        covenant or agreement entered into between Executive and the Company or any
        of
        its Affiliates. Any such covenant or agreement shall remain in full force
        and
        effect in accordance with its terms. Executive agrees that at any time during
        the non-competition period he will not, without the prior written consent
        of the
        Company:

      

      
        	 	
                (i)

              	
                request
                  or advise any customer or client of the Company or
                  of any Affiliate (including but not limited to any customers or
                  clients of
                  the Company or of any Affiliate who are shippers, receivers, freight
                  transportation brokers or third-party logistics providers) having
                  or
                  expected to have business dealings with the Company or any Affiliate
                  pertaining to the Competing Business to withdraw, curtail or cancel
                  such
                  business or business dealings, or to take any business to a competitor
                  of
                  the Company or any Affiliate; or

              

      

      

      
        	 	
                (ii)

              	
                provide
                  any person a partial or complete list, whether
                  orally or in writing, of customers having business dealings with
                  the
                  Company or any Affiliate pertaining to the Competing Business or
                  who are
                  known to him to have had business dealings with the Company or
                  the
                  Affiliate pertaining to the Competing
                  Business.

              

      

      

      (b) Protection
        of Confidential Information. The
        Executive agrees that he will not at any time during or following his employment
        by the Company or Related Corporation, without the Company’s or Related
        Corporation’s prior written consent, divulge any Confidential Information to any
        other person or entity or use any Confidential Information for his own benefit.
        Upon termination of employment, for any reason whatsoever, regardless of
        whether
        either party may be at fault, the Executive will return to the Company or
        Related Corporation all physical Confidential Information in the Executive’s
        possession.

      

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      (c) Non-Solicitation
        of Employees. The Executive
        agrees, for so long as the Executive remains employed by the Company or Related
        Corporation, and for a period of two years following termination of the
        Executive’s employment, that the Executive shall not, either for the Executive’s
        own account, or on behalf of any other person or entity, solicit, suggest
        or
        request that any other person employed by the Company or one of the Affiliates
        leave such employment for the purpose of becoming employed by the Executive
        or
        any other person or entity, or in any way violate any agreement between the
        Company or the Affiliate and such person.

      

      (d)
 Extent
        of Restrictions. If the scope of any
        restriction contained in this non-competition agreement is found by any Court
        of
        competent jurisdiction to be too broad to permit enforcement of such restriction
        to its full extent, then such restriction shall be enforced to the maximum
        extent permitted by law, and Executive agrees and consents that such scope
        may
        be judicially modified accordingly in any proceeding brought to enforce such
        restriction. Executive acknowledges that any breach of the agreements contained
        in this non-competition agreement would cause irreparable injury to the Company
        and/or a Related Corporation and that the remedy at law for any breach would
        be
        inadequate, and agrees and consents that temporary and injunctive relief
        may be
        granted in any proceeding which may be brought to enforce any provision of
        this
        non-competition agreement without the necessity of proof of actual damages.
        Executive hereby acknowledges that the Company or Related Corporation would
        be
        entitled to enforce all of the agreements and covenants contained in this
        non-competition agreement for the Company or a Related Corporation’s own benefit
        or for the benefit of any of the Affiliates. Nothing contained in this
        non-competition agreement shall prevent the Company or a Related Corporation
        or
        any Affiliates from bringing an action at law and recovering actual damages
        to
        the extent the same are provable, as all remedies herein granted shall each
        be
        independent causes of action. The invalidity of any provision of this Agreement
        or of this non-competition agreement shall not affect the validity of any
        other
        provisions of this non-competition agreement. “Affiliate” for purposes of this
        Section 7 shall mean the Company and all of its present or future direct
        and
        indirect subsidiaries. For purposes of this Section 7 “Person” includes
        individuals, firms, partnerships, associations, corporations, companies,
        entities, enterprises, joint ventures and any other business
        organizations.

      

      7. Joinder
        for Limited Purposes. For purposes under Sections
        2, 3, 4, 5 and 6 the term “Company” shall also include “Related Corporations”
who will be jointly and severally liable for the obligations under such
        provisions of this Agreement. 

      

      8. Tax
        Withholdings. Each payment to the Executive under this
        Agreement will be subject to the withholding of all taxes imposed on Executive
        with respect to such payment and required by applicable law to be withheld
        by
        the Company.

      

      9. Severability.
        In the event that any provision or portion
        of this Agreement shall be determined to be invalid or unenforceable for
        any
        reason, the remaining provisions of this Agreement shall be unaffected thereby
        and shall remain in full force and effect.

       

      10. Successors.
        This Agreement shall be binding upon and
        inure to the benefit of the Company and any successor of the Company. The
        Company and any Related Corporation will require any successor to all or
        substantially all of the business and/or assets of the Company or any Related
        Corporation, as the case may be to expressly assume and agree to perform
        this
        Agreement in the same manner and to the same extent that the Company or any
        Related Corporation would be required to perform if no succession had taken
        place.

      

      11. Entire
        Agreement, Replacement of Original Agreement. This
        Agreement constitutes the entire agreement between the parties hereto with
        respect to the subject matter hereof and amends and replaces the Original
        Agreement. This Agreement may not be modified in any manner except by a written
        instrument signed by both the Company and the Executive.

      

      12. Notices.
        Any notice required under this Agreement shall
        be in writing and shall be delivered by certified mail return receipt requested
        to each of the parties as follows:

      

      To
        the Executive:

      

      Name

      Address

      Address

      

      To
        the Company:

      

      Frozen
        Food Express Industries, Inc.

      1145
        Empire Central Place

      Dallas,
        Texas 75247-4309

      Attention:
        President 

      

      13. Governing
        Law. The provisions of this Agreement shall be
        construed in accordance of the laws of the State of Texas, except to the
        extent
        preempted by ERISA or other federal laws, as applicable, without reference
        to
        the conflicts of laws provisions thereof.

      

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      IN
        WITNESS WHEREOF, the Executive and the Company have executed
        this Amended and Restated Change in Control Agreement as of the date and
        year
        first above written and the Related Corporations join for the purposes specified
        in Section 8.

      

      COMPANY

      

      FROZEN
        FOOD EXPRESS INDUSTRIES, INC.

      

      

      

      By:

      Its:
        President

      

      

      

      

      RELATED
        CORPORATIONS

      

      FFE,
        INC. 

      

      

      

      By:

      Its:
        President

      

      

      FFE
        TRANSPORTATION SERVICES, INC. 

      

      

      

      By:

      Its:
        President

      

      

      

      EXECUTIVE

      

      

      

      Name

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