Document:

Letter Agreement

  
 Exhibit 10.2

 EXECUTION COPY 
 August 2, 2010 
 To the Buyers and the 

Holders Named on the 
 Signature Pages Hereto

 Re: YRC Worldwide Inc. — Second Closing with respect to 6% Convertible Senior Notes due 2014 

Ladies and Gentlemen: 
 Reference is made to that Note Purchase Agreement, dated February 11, 2010 (the “Purchase Agreement”), by and among YRC Worldwide Inc. (the “Company”), the investors
listed on the Schedule of Buyers attached as Annex I thereto (the “Buyers”), and the subsidiaries of the Company listed on the Schedule of Guarantors attached as Annex II thereto (the “Guarantors”), relating to the
issuance and sale by the Company to the Buyers of up to $70,000,000 in aggregate principal amount of the Company’s 6.0% Convertible Senior Notes due 2014 (the “Notes”), that Indenture, dated as of February 23, 2010 (the
“Indenture”), by and among the Company, the Guarantors and U.S. Bank National Association, as trustee (the “Trustee”), governing the terms of the Notes, and the Notes that have been issued under the Indenture.
Capitalized terms used in this letter agreement (this “Agreement”) and not otherwise defined shall have the meanings assigned to them in the Purchase Agreement or the Indenture, as applicable. This Agreement is being entered into
among the parties hereto in connection with the Second Closing as contemplated by the Purchase Agreement, which is currently scheduled to occur on or about August 3, 2010. 

In consideration of the covenants contained herein, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, and intending to be legally bound, the parties agree as follows: 
 AGREEMENTS

 Section 1.1        Confirmation of the Second Closing.
Each of the Buyers hereby agrees not to raise any objection or otherwise challenge any certifications required to be delivered by the Company or the Guarantors in connection with the Second Closing under Sections 8(h) and 8(i) of the Purchase
Agreement, respectively, to the extent such certifications as to fact, do not contain qualifications other than those provided for in the Purchase Agreement or specifically agreed to by the Buyers. In the event that the Company or the Guarantors, as
applicable, otherwise satisfies each of the conditions set forth in Section 8 of the Purchase Agreement at or before the Second Closing Date, each of the Buyers confirms that it will purchase the Notes at the Second Closing in accordance with
the terms of the Purchase Agreement and will immediately thereafter instruct the Escrow Agent (as defined below) to deliver the balance of the Escrow Property (as defined in the Escrow Agreement (as defined below)) in accordance with
Section 1.3(b)(ii) of the Escrow Agreement, dated as of February 23, 2010 (the “Escrow Agreement”), by and among the Company, the Buyers and U.S. Bank National Association, as escrow agent (the “Escrow
Agent”). 

  
 Section 1.2        Temporary Increase in Conversion Rate. Pursuant to Section 10.14 of the Indenture, the Company hereby agrees to temporarily
increase the Conversion Rate on the Second Closing Date for a period of 20 days to 100,000 shares of Common Stock per $1,000 in principal amount of Notes (the “Adjusted Conversion Rate”) (thereby reducing the Conversion Price to
$0.01 per share), and each of the Buyers hereby agrees to convert that aggregate principal amount of Notes that were issued on February 23, 2010 during that period such that each Buyer receives on account of such conversion no more than that
number of shares listed opposite such Buyer’s name on Annex I hereto such that no more than an aggregate of 59,000,000 shares of Common Stock are issued by the Company pursuant to the Adjusted Conversion Rate (as such shares are adjusted
pursuant to the share rounding provisions in Paragraph 8 of the Notes). For the avoidance of doubt, the foregoing limitation shall not include any shares of Common Stock issued to the Buyers or any other Holders of Notes in respect of interest on
the Notes that is payable by the Company on August 16, 2010 (in respect of the August 15th interest payment date set forth in the Notes) pursuant to the terms of the Indenture. The parties hereto agree and acknowledge that any conversion of the Notes into shares of Common Stock during the
20-day period in the Adjusted Conversion Price is in effect shall not terminate or otherwise modify in any manner the right of such Holder to receive the accrued and unpaid interest on such Notes on August 16, 2010. Immediately following the
20-day period, the Conversion Rate will revert back to the initial Conversion Rate of 2,325.5814 shares of Common Stock per $1,000 in principal amount of the Notes (thereby reverting back the Conversion Price to the initial Conversion Price of
$0.43 per share), subject to the application following the end of such 20-day period to the limitations set forth in Section 10.16 of the Indenture. 
 Section 1.3        Waiver of Certain Notice Periods. Pursuant to Section 9.02 of the Indenture, the Buyers, as the Holders of more than a majority
in aggregate Principal Amount outstanding of the Notes, hereby waive any and all of the notice, filings, mailing or notice period requirements set forth in Sections 10.10 and 10.14 of the Indenture in connection with the Adjusted Conversion Rate.
The Company confirms that it will on the Second Closing Date deliver an Officers’ Certificate setting forth the Adjusted Conversion Rate and the Conversion Price to the Trustee as contemplated by Section 10.10 of the Indenture and such
other statements relating to such other matters in this Agreement and the Supplemental Indenture as are required to be made in an Officers’ Certificate under the terms of the Indenture to effect the transactions and agreements contemplated
hereby and by the Supplemental Indenture. 

Section 1.4        Consent to Amendment to Section 10.16 of the
Indenture. Pursuant to Section 9.02 of the Indenture, each Buyer and each Holder hereby consents with respect to all of the Notes owned of record by such Buyer or Holder, as the case may be, to amend Section 10.16 of the Indenture
through the execution of a supplemental indenture, in substantially the form attached hereto as Exhibit A, with such changes and modifications as are reasonably required by the Trustee (the “Supplemental Indenture”), to
provide that the limitation set forth in Section 10.16 of the Indenture shall not apply on a pro rata basis to otherwise limit the number of shares that can be issued by the Company upon the conversion of the Notes during the period in which
the Adjusted Conversion Rate is in effect as contemplated by Section 1.2 of this Agreement. Notwithstanding the foregoing, each of the parties hereto hereby confirms and acknowledges that all of the shares of Common Stock issued by the Company
upon conversion of the Notes during the period in which the Adjusted Conversion Rate is in effect will be included in any calculation to determine whether the limitation on the maximum number of shares of Common Stock issuable in respect of the
Notes set forth in Section 10.16 is then applicable. 

Section 1.5        Waivers of Certain Conditions to Conversion under
Section 10.02 of the Indenture and Paragraph 8 of the Notes; Payment of Interest in Respect of Converted Notes. The Company hereby waives the requirement that a Holder comply with any of the conditions set forth in clauses (ii) and
(iii) of the second sentence of the first paragraph of Section 10.02 of the Indenture and the 

  
 2 

 
corresponding requirements set forth in paragraph 8 of the Notes prior to the Conversion Date with respect to the Notes to be converted in accordance with this Agreement, and each Holder
converting such Notes hereby agrees to use its commercially reasonable efforts to satisfy the requirements of such clauses promptly after the Conversion Date to the extent any such documents are reasonably requested by the Conversion Agent to be
delivered to the Conversion Agent. The Company and the Holders participating in the conversion pursuant to the terms of this Agreement hereby agree that (i) the conversion notice to be provided to the Conversion Agent under Section 10.02
of the Indenture and paragraph 8 of the Notes shall be replaced with an annex copying the relevant information as to such conversion contained in the Schedule of Buyers and Holders attached as Annex I hereto, which annex as to each such
Holder, setting forth name its name (which shall be the name of the Person to whom shares of Common Stock issued upon such conversion are issued), the principal amount of Notes being surrendered (it being understood that physical delivery of such
Notes shall not required as a condition to such conversion), and the amount of shares of Common Stock to be issued pursuant to such conversion, and (ii) the Conversion Date applicable to such conversion shall deemed to be the time at which the
Officers’ Certificate referred to in Section 1.3 above is delivered to the Trustee and Conversion Agent on the Second Closing Date upon the effectiveness of the Supplemental Indenture. The Company further agrees that the Holders converting
their Notes pursuant to the terms of this Agreement shall not be required to make any payments in respect of interest pursuant to Section 10.02 of the Indenture and the penultimate sentence of the second paragraph of paragraph 8 of the Notes to
the extent such conversion occurs prior to the next interest payment date for the Notes following the date of this Agreement, and that interest with respect to the period from February 23, 2010 to the scheduled August 15, 2010 interest
payment date, shall paid to each such Holder in respect of the principal amount of Notes to be converted on or prior to such interest payment date and shall include all interest such Holder would have been entitled to if such Holder had not
converted any portion of such Holder’s Notes prior to such interest payment date. The Company hereby acknowledges and agrees that the Conversion Agent has confirmed that the procedures for conversion and the waiver of any payment to be made by
a Holder as set forth in this Section 1.5 shall be sufficient for conversion of the principal amount of Notes to be converted in accordance with the terms and conditions of this Agreement, the Indenture and the Notes, each as supplemented
hereby, the Supplemental Indenture and any the Officers’ Certificate to be delivered as contemplated by the Supplemental Indenture, and the Company further acknowledges that the obligations of the Buyers and the Holders under this Agreement are
subject to the concurrent conversion of the Notes into shares of Common Stock in the amounts specified in Annex I hereto as contemplated by this Agreement with the Second Closing. 

Section 1.6        Waiver by Holders of Make Whole Premium in Connection
with Conversions Pursuant to this Agreement. Each Holder electing to convert all or portion of its Notes pursuant to the terms and conditions of this Agreement hereby waives the obligation of the Company under Section 10.01 of the Indenture
and the first paragraph of paragraph 8 of the Notes to issue any shares of Common Stock to such Holder in respect of the Make Whole Premium otherwise owing thereon. This waiver shall only apply to conversions made at the reduced conversion price
during the applicable 20-day period in accordance with the terms and conditions of this Agreement. 

Section 1.7        Public Disclosure. The Company hereby agrees,
upon the earliest of (A) any public disclosure by the Company of the entry into this Agreement or the transactions contemplated hereby, (B) 8:30 a.m., New York City time, on the second Business Day after the date of this Agreement or
(C) the public announcement of the Company’s financial results for the quarter ended June 30, 2010, to issue a press release (the “Press Release”) and file a Current Report on Form 8-K (the “Form
8-K”) with the SEC (with the Press Release attached as an exhibit thereto), in each case, in form and substance reasonably acceptable to the Buyers, and disclosing all material terms of the transactions contemplated by this Agreement;
provided, however, that the Press Release shall be issued and the Form 8-K shall be filed with the SEC no later than the effectiveness of the Supplemental Indenture. From and after the issuance of the Press Release and the Form
8-K, the Company confirms that no Buyer or any Holder party hereto 

  
 3 

 
shall be in possession of any material, nonpublic information received from the Company, any of its Subsidiaries or any of its respective officers, directors, employees or agents that is not
disclosed in the Press Release and the Form 8-K. 

Section 1.8        Delivery of Book-Entry Shares upon Conversion.
The Company hereby covenants and agrees to deliver in book-entry form as soon as reasonably practicable following the Second Closing (but, in any event, no later than two (2) Business Days after the Second Closing Date) to each Holder
converting a portion of its Notes pursuant to this Agreement the number of shares of Common Stock to be issued upon conversion indicated for such Holder as set forth on Annex I hereto, without any deductions from such share amounts for taxes
or any other charges, costs or expenses. 
 MISCELLANEOUS 

Section 2.1        Effect of this Agreement. Except as set forth in
this Agreement, the terms of the Purchase Agreement, the Notes, the Indenture and any of the other Transaction Documents shall not be amended or modified in any manner and all of the provisions thereof shall continue in full force and effect. This
Agreement is made as a settlement of potential litigation and is entitled to protection from any use or disclosure to any party or person pursuant to Federal Rule of Evidence 408 and any other rule of similar import. 

Section 2.2        Successors and Assigns. This Agreement shall be
binding upon and inure to the benefit of the parties and their respective successors and assigns. The Company shall not assign this Agreement or any rights or obligations hereunder without the prior written consent of the holders of at least a
majority of the aggregate principal amount of the Notes. A Buyer may not assign this Agreement or any rights or obligations hereunder without the prior consent of the Company except that any Buyer may assign some or all of its rights hereunder to an
Affiliate of such Buyer without the consent of the Company, in which event such assignee shall be deemed to be a Buyer hereunder with respect to such assigned rights. A Buyer shall not sell, assign or otherwise transfer any of their respective Notes
during the period that the Adjusted Conversion Rate is in effect unless such transferee agrees in writing to comply with all of the provisions of this Agreement, including Section 1.2 of this Agreement. 

Section 2.3        No Third Party Beneficiaries. This Agreement is
intended for the benefit of the parties hereto and their respective permitted successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other Person. 

Section 2.4        Further Assurances. Each party hereto shall do
and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver all such other agreements, certificates, instruments and documents, as any other party may reasonably request in order to carry out the
intent and accomplish the purposes of this Agreement and the other Transaction Documents and the consummation of the transactions contemplated hereby and thereby. 

Section 2.5        Severability. In case any provision in this
Agreement shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

Section 2.6        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 hereto hereby irrevocably submits to the exclusive jurisdiction of the state
and federal courts sitting in The City of New York, Borough of 

  
 4 

 
Manhattan for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed 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 hereto 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 HERETO 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. 
 Section 2.7        Counterparts. This
Agreement may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 

Section 2.8        Headings. The Section headings herein are inserted
for convenience of reference only, are not intended to be considered a part hereof and shall not modify or restrict any of the terms or provisions hereof. 
 Section 2.9        Trustee Makes No Representation. The Trustee makes no representation as to the validity or sufficiency of this Agreement. 

<signature pages follow> 

  
 5 

  
 IN WITNESS
WHEREOF, the Company, each Buyer and each Holder has caused its respective signature page to this Agreement to be duly executed as of the date first written above. By execution of its respective signature page, each Buyer and each Holder, as to
all of the Notes owned by it, thereby provides its consent to the amendment to the Indenture as set forth in the Supplemental Indenture attached hereto as Exhibit A, in accordance with Section 9.02 of the Indenture. 

 

					
	COMPANY:
	
	YRC WORLDWIDE INC.
			
	By:  	 		 	 
		 		 	 Name:

Title:

 IN
WITNESS WHEREOF, the Company, each Buyer and each Holder has caused its respective signature page to this Agreement to be duly executed as of the date first written above. By execution of its respective signature page, each Buyer and each
Holder, as to all of the Notes owned by it, thereby provides its consent to the amendment to the Indenture as set forth in the Supplemental Indenture attached hereto as Exhibit A, in accordance with Section 9.02 of the Indenture.

  

					
	BUYER AND HOLDER:
	
	ARISTEIA MASTER, L.P.
	
	By: Aristeia Capital, L.L.C., its Investment Manager
			
	By:  	 		 	 
		 		 	 Name:

Title:

			
	By:  	 		 	 
		 		 	 Name:

Title:

  

[Signature Pages to Letter Agreement] 

  
 IN WITNESS
WHEREOF, the Company, each Buyer and each Holder has caused its respective signature page to this Agreement to be duly executed as of the date first written above. By execution of its respective signature page, each Buyer and each Holder, as to
all of the Notes owned by it, thereby provides its consent to the amendment to the Indenture as set forth in the Supplemental Indenture attached hereto as Exhibit A, in accordance with Section 9.02 of the Indenture. 

 

					
	BUYER AND HOLDER:
	
	 INVESTCORP SILVERBACK ARBITRAGE
 MASTER FUND LIMITED

		
	 By:  
	 	 Silverback Asset Management, LLC, its
 Investment Manager

			
	By:  	 		 	 
		 		 	 Name:

Title:

	
	BUYER AND HOLDER:
	
	 INVESTCORP SILVERBACK
 OPPORTUNISTIC CONVERTIBLE MASTER
 FUND LIMITED

		
	By:  	 	 Silverback Asset Management, LLC, its
 Investment Manager

			
	By:  	 		 	 
		 		 	 Name:

Title:

  

[Signature Pages to Letter Agreement] 

  
 IN WITNESS
WHEREOF, the Company, each Buyer and each Holder has caused its respective signature page to this Agreement to be duly executed as of the date first written above. By execution of its respective signature page, each Buyer and each Holder, as to
all of the Notes owned by it, thereby provides its consent to the amendment to the Indenture as set forth in the Supplemental Indenture attached hereto as Exhibit A, in accordance with Section 9.02 of the Indenture. 

 

					
	BUYER AND HOLDER:
	
	 ALDEN GLOBAL DISTRESSED
 OPPORTUNITIES FUND, L.P.

		
	 By:  
	 	 Alden Global Distressed Opportunities Fund GP,

LLC, its General Partner

			
	By:  	 		 	 
		 		 	 Name:

Title:

	
	HOLDER:
	
	NEWFINANCE ALDEN SPV
		
	By:  	 	 Alden Global Capital, a division of Smith
 Management LLC, its Trading Advisor

			
	By:  	 		 	 
		 		 	 Name:

Title:

  

[Signature Pages to Letter Agreement] 

  
 Exhibit A

 Form of Supplemental Indenture 
 (to be attached).Consent and Am. 5 to Contribution Deferral Agreement

  
 Exhibit 10.3

 Execution Version 
 CONSENT AND AMENDMENT 5 TO CONTRIBUTION DEFERRAL AGREEMENT 
 This Consent and Amendment 5 to the Contribution Deferral Agreement (this “Amendment 5”) is entered into as of August 3, 2010, by and among (i) YRC INC., a Delaware corporation
(“YRC”), USF HOLLAND, INC., a Michigan corporation (“Holland”), NEW PENN MOTOR EXPRESS INC., a Pennsylvania corporation (“New Penn”), USF REDDAWAY INC., an Oregon corporation
(“Reddaway”) (each of YRC, Holland, New Penn and Reddaway a “Primary Obligor”, and collectively, the “Primary Obligors”); (ii) each of the Guarantors a party hereto (the
“Guarantors”); (iii) Wilmington Trust Company, as agent (together with its successors and assigns, in such capacity, the “Agent”); and (iv) each of the Funds party hereto. The Primary Obligors, the
Guarantors, the Funds, and the Agent are herein individually referred to as a “Party” and together referred to as the “Parties.” 
 RECITALS 
 WHEREAS, the Primary Obligors and certain of
their employees who are represented by the International Brotherhood of Teamsters (the “Teamsters”) have previously entered into the 2008-2013 National Master Freight Agreement and its Supplements and other collective bargaining
agreements with individual Local Unions affiliated with the Teamsters (as amended, modified and supplemented from time to time, excluding any amendment or modification thereto entered into on or after June 30, 2009, the “CBA”),
which, among other things, provides that the Primary Obligors will generally make certain contributions to the Funds (as defined below) based on hours worked or compensation received by covered employees; 

WHEREAS, the Primary Obligors, CS Pension Fund and the Agent entered into that certain Contribution Deferral Agreement
dated as of June 17, 2009 (as further amended, modified or supplemented from time to time, the “Agreement”; capitalized terms used but not otherwise defined herein shall have the meanings given to them in the Agreement),
pursuant to which such Parties agreed that the obligations to make certain contributions otherwise due to the CS Pension Fund from the Primary Obligors would be deferred; 

WHEREAS, certain joinders to the Agreement were entered into on July 6, 2009, July 10,
2009, July 14, 2009, August 13, 2009 and other joinders may be entered into from time to time by and among certain other pension funds, the Primary Obligors and the Agent, pursuant to which such Persons also agreed that the
obligation to make certain contributions otherwise due to the Funds party thereto from the Primary Obligors would be deferred; and 
 WHEREAS, the Obligors and the undersigned Funds, constituting Majority Funds, each desire to enter into this Amendment 5, among other things, to amend the Agreement; 

WHEREAS, the Obligors and certain Affiliates of the Obligors entered into that certain Amendment No. 18
(“Amendment No. 18”), dated as of July 28, 2010, by and among YRC Worldwide Inc., the Canadian Borrower (as defined therein), the UK Borrower (as defined therein), the financial institutions listed on the signature pages
thereof and JPMorgan Chase Bank, National Association, as Administrative Agent. 

  
 NOW,
THEREFORE, in consideration of the premises and the mutual covenants of the parties hereinafter set forth, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereby agree as
follows: 
 ARTICLE I 
  

	 	1.	 Amendments. 

 1.1 Definitions. 

(a)        Section 1.01 of the Agreement is hereby amended
by inserting the following new definitions in proper alphabetical order: 
 “Amendment 5 Effective
Date” means August 4, 2010. 

(b)        The defined term “Liquidity” set forth in
Section 1.01 of the Agreement is amended and restated as follows: 
 ““Liquidity
Amount” shall have the meaning set forth in the Senior Credit Facility as of the Amendment 5 Effective Date after giving effect to Amendment No. 18 to the Senior Credit Facility and Amendment 5 itself.” 

ARTICLE II 
  

	 	2.	 Conditions Precedent. 

2.1 Effective Date. This Amendment 5 shall not become effective until the date on which each of
the following conditions is satisfied (or waived): 

(a)        The Obligors, the Funds and the Agent shall have
executed a counterpart of this Amendment 5, which may include telecopy or other electronic transmission of a signed signature page of this Amendment 5. 

(b)        The Agent and CS Pension Fund shall have received
payment for all invoiced reasonable out-of-pocket expenses payable by the Primary Obligors under Section 11.01 of the Agreement. 
 ARTICLE III 
  

	 	3.	 Miscellaneous. 

 3.1        Agent. Pursuant to Section 11.04 of the Agreement, the undersigned Funds, constituting Majority Funds, hereby authorize and direct the Agent
to execute, enter into and perform this Amendment 5. 

3.2        Successors and Assigns. This Amendment 5 and
all of the covenants and agreements contained herein and rights, interests or obligations hereunder, 

  
 2 

 
by or on behalf of any of the Parties hereto, shall bind and inure to the benefit of the respective successors and assigns of the Parties hereto whether so expressed or not. 

3.3        Counterparts. This Amendment 5 may be executed
simultaneously in counterparts (including by means of telecopied or PDF signature pages), any one of which need not contain the signatures of more than one Party, but all such counterparts taken together shall constitute one and the same Amendment
5. 
 3.4        Descriptive Headings;
Interpretation. The headings and captions used in this Amendment 5 are for reference purposes only and shall not affect in any way the meaning or interpretation of this Amendment 5. 

3.5        Governing Law. All issues and questions
concerning the construction, validity, enforcement and interpretation of this Amendment 5 shall be governed by, and construed in accordance with, the laws of the State of New York without giving effect to any choice of law or conflict of law rules
or provisions (whether of the State of New York or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of New York. In furtherance of the foregoing, the internal law of the State of New York
shall control the interpretation and construction of this Amendment 5 (and all schedules and exhibits hereto), even though under that jurisdiction’s choice of law or conflict of law analysis, the substantive law of some other jurisdiction would
ordinarily apply. 
 3.6        No Strict
Construction. The Parties have participated jointly in the negotiation and drafting of this Amendment 5. In the event an ambiguity or question of intent or interpretation arises, this Amendment 5 shall be construed as if drafted jointly by the
Parties, and no presumption or burden of proof shall arise favoring or disfavoring any Party by virtue of the authorship of any of the provisions of this Amendment 5. 
 [SIGNATURE PAGES FOLLOW] 

  
 3 

  
 IN
WITNESS WHEREOF, the parties hereto have caused this Amendment 5 to be duly executed by their respective authorized officers as of the day and year first above written. 

 

					
	YRC INC., as an Obligor
			
	By	 	 	 	
	 Name: Phil J. Gaines

Title: Senior Vice President - CFO

	  
 USF HOLLAND, INC., as an Obligor

			
	By	 	 	 	
	 Name: Dan L. Olivier

Title: Vice President - Finance

	  
 NEW PENN MOTOR EXPRESS, INC., as
an
Obligor

			
	By	 	 	 	
	 Name: Paul F. Liljegren

Title: Vice President - Finance

	  
 USF REDDAWAY INC., as an Obligor

			
	By	 	 	 	
	 Name: Tom Palmer

Title: Vice President Finance-CFO

  
 Signature Page
to Amendment 5 to 
 Contribution Deferral Agreement 

  
 
					
	 YRC LOGISTICS SERVICES, INC., as a
 Guarantor

			
	By	 	 	 	
	 Name: Brenda Stasiulis
 Title: Vice President - Finance

	  
 USF GLEN MOORE, INC., as a
Guarantor

			
	By	 	 	 	
	 Name: Phil J. Gaines
 Title: Senior Vice President - Finance

	  

TRANSCONTINENTAL LEASE, S. DE R.L.
 DE C.V., as a Guarantor

			
	By	 	 	 	
	 Name: Fortino Landeros Ruiz
 Title: Legal Representative

	  
 TRUSTEES for the CENTRAL STATES,
SOUTHEAST AND
SOUTHWEST AREAS
PENSION FUND, as a Fund

			
	By	 	 	 	
	 Name:

Title:

	  
 INTERNATIONAL ASSOCIATION OF
MACHINISTS MOTOR CITY
PENSION
FUND, as a Fund

			
	By	 	 	 	
	 Name:

Title:

  
 Signature Page
to Amendment 5 to 
 Contribution Deferral Agreement 

  
 
					
	 WESTERN CONFERENCE OF
 TEAMSTERS PENSION TRUST, as a Fund

			
	By	 	 	 	
		 	Name:	 	
		 	Title:	 	
	
	 TEAMSTERS LOCAL 617 PENSION FUND,
 as a Fund

			
	By	 	 	 	
		 	Name:	 	
		 	Title:	 	
	
	 LOCAL 705 INTERNATIONAL
 BROTHERHOOD OF TEAMSTERS
 PENSION FUND, as a Fund

			
	By	 	 	 	
		 	Name:	 	
		 	Title:	 	
	
	 WESTERN CONFERENCE OF
 TEAMSTERS SUPPLEMENTAL BENEFIT
 TRUST FUND, as a Fund

			
	By	 	 	 	
		 	Name:	 	
		 	Title:	 	

  
 
					
	 SUBURBAN TEAMSTERS OF NO. IL.
 PENSION FUND, as a Fund

			
	By	 	 	 	
		 	Name:	 	
		 	Title:	 	
	
	 ROAD CARRIERS LOCAL 707 PENSION
 FUND, as a Fund

			
	By	 	 	 	
		 	Name:	 	
		 	Title:	 	
	
	 SOUTHWESTERN PENNSYLVANIA AND
 WESTERN MARYLAND TEAMSTERS &
 EMPLOYERS PENSION FUND, as a Fund

			
	By	 	 	 	
		 	Name:	 	
		 	Title:	 	
	
	 HAGERSTOWN MOTOR CARRIERS AND
 TEAMSTERS PENSION PLAN, as a Fund

			
	By	 	 	 	
		 	Name:	 	
		 	Title:	 	
	
	TEAMSTERS LOCAL 445 PENSION FUND, as a Fund
			
	By	 	 	 	
		 	Name:	 	
		 	Title:	 	

  
 
					
	 I.B. of T. UNION LOCAL NO. 710 PENSION

FUND, as a Fund

			
	By	 	 	 	
		 	Name:	 	
		 	Title:	 	
	
	 NEW ENGLAND TEAMSTERS &
 TRUCKING INDUSTRY PENSION FUND,
 as a Fund

			
	By	 	 	 	
		 	Name:	 	
		 	Title:	 	
	
	 TEAMSTERS JC 83 PENSION FUND, as a
 Fund

			
	By	 	 	 	
		 	Name:	 	
		 	Title:	 	
	
	 MANAGEMENT LABOR WELFARE &
 PENSION FUNDS LOCAL 1730, I.L.A. , as a
 Fund

			
	By	 	 	 	
		 	Name:	 	
		 	Title:	 	

  
 
					
	 TEAMSTERS LOCAL 639 EMPLOYER’S
 PENSION TRUST, as a Fund

			
	By	 	 	 	
		 	Name:	 	
		 	Title:	 	
	
	 CENTRAL PENNSYLVANIA TEAMSTERS
 PENSION FUND, as a Fund

			
	By	 	 	 	
		 	Name:	 	
		 	Title:	 	
	
	TEAMSTERS LOCAL 641 PENSION FUND, as a Fund
			
	By	 	 	 	
		 	Name:	 	
		 	Title:	 	
	
	 TEAMSTERS PENSION TRUST FUND OF
 PHILADELPHIA AND VICINITY, as a Fund

			
	By	 	 	 	
		 	Name:	 	
		 	Title:	 	
	
	 FREIGHT DRIVERS AND HELPERS
 LOCAL 557 PENSION FUND, as a Fund

			
	By	 	 	 	
		 	Name:	 	
		 	Title:	 	

  
 
					
	 MID-JERSEY TRUCKING IND. &
 TEAMSTERS LOCAL 701 PENSION FUND,
 as a Fund

			
	By	 	 	 	
		 	Name:	 	
		 	Title:	 	
	
	 TRUCKING EMPLOYEES OF NORTH
 JERSEY WELFARE FUND INC. - PENSION
 FUND, as a Fund

			
	By	 	 	 	
		 	Name:	 	
		 	Title:	 	
	
	HAWAII TRUCKERS-TEAMSTERS UNION PENSION FUND, as a Fund a
			
	By	 	 	 	
		 	Name:	 	
		 	Title:	 	
	
	 NEW YORK STATE TEAMSTERS
 CONFERENCE PENSION AND
 RETIREMENT FUND, as a Fund

			
	By	 	 	 	
		 	Name:	 	
		 	Title:	 	

  
 
					
	 EMPLOYER-TEAMSTERS LOCAL NOS.
 175/505 PENSION TRUST FUND, as a Fund

			
	By	 	 	 	
		 	Name:	 	
		 	Title:	 	
	
	 WESTERN PENNSYLVANIA TEAMSTERS
 AND EMPLOYERS PENSION FUND, as a Fund

			
	By	 	 	 	
		 	Name:	 	
		 	Title:	 	
	
	 WILMINGTON TRUST COMPANY, as
 Agent

			
	By	 	 	 	
		 	Name:	 	
		 	Title:	 	

  
 Exhibit A 

Amendment No. 18 to Senior Credit Facility 
 (see attached) 

  
 Execution Version

 CONSENT AND AMENDMENT 6 TO CONTRIBUTION DEFERRAL AGREEMENT 

This Consent and Amendment 6 to the Contribution Deferral Agreement (this “Amendment 6”) is
entered into as of August     , 2010, by and among (i) YRC INC., a Delaware corporation (“YRC”), USF HOLLAND, INC., a Michigan corporation (“Holland”), NEW PENN MOTOR EXPRESS INC., a
Pennsylvania corporation (“New Penn”), USF REDDAWAY INC., an Oregon corporation (“Reddaway”) (each of YRC, Holland, New Penn and Reddaway a “Primary Obligor”, and collectively, the “Primary
Obligors”); (ii) each of the Guarantors a party hereto (the “Guarantors”); (iii) Wilmington Trust Company, as agent (together with its successors and assigns, in such capacity, the “Agent”); and
(iv) each of the Funds party hereto. The Primary Obligors, the Guarantors, the Funds, and the Agent are herein individually referred to as a “Party” and together referred to as the “Parties.” 

RECITALS 
 WHEREAS, the Primary Obligors and certain of their employees who are represented by the International Brotherhood of Teamsters (the “Teamsters”) have previously entered into the 2008-2013
National Master Freight Agreement and its Supplements and other collective bargaining agreements with individual Local Unions affiliated with the Teamsters (as amended, modified and supplemented from time to time, excluding any amendment or
modification thereto entered into on or after June 30, 2009, the “CBA”), which, among other things, provides that the Primary Obligors will generally make certain contributions to the Funds (as defined below) based on hours
worked or compensation received by covered employees; 
 WHEREAS, the Primary Obligors, CS Pension Fund and the
Agent entered into that certain Contribution Deferral Agreement dated as of June 17, 2009 (as further amended, modified or supplemented from time to time, the “Agreement”; capitalized terms used but not otherwise defined herein
shall have the meanings given to them in the Agreement), pursuant to which such Parties agreed that the obligations to make certain contributions otherwise due to the CS Pension Fund from the Primary Obligors would be deferred; 

WHEREAS, certain joinders to the Agreement were entered into on July 6, 2009, July 10,
2009, July 14, 2009, August 13, 2009 and other joinders may be entered into from time to time by and among certain other pension funds, the Primary Obligors and the Agent, pursuant to which such Persons also agreed that the
obligation to make certain contributions otherwise due to the Funds party thereto from the Primary Obligors would be deferred; and 
 WHEREAS, the Obligors and the undersigned Funds, constituting all of the Funds party to the Agreement, each desire to enter into this Amendment 6, among other things, to amend the Agreement and to consent
to certain amendments to the Senior Credit Facility; 
 WHEREAS, the Obligors and certain Affiliates of the
Obligors entered into that certain Amendment No. 18 (“Amendment No. 18”), dated as of July 28, 2010, by and among YRC Worldwide Inc., the Canadian Borrower (as defined therein), the UK Borrower (as defined therein),
the financial institutions listed on the signature pages thereof and JPMorgan Chase Bank, National Association, as Administrative Agent. 

  
 13 

  
 NOW,
THEREFORE, in consideration of the premises and the mutual covenants of the parties hereinafter set forth, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereby agree as
follows: 
 ARTICLE I 
  

	 	4.	 Consent. 

 4.1        The undersigned Funds, constituting all of the Funds party to the Agreement, hereby (i) consent to the amendment of the Senior Credit Facility as
set forth in Amendment No. 18, in the form attached hereto as Exhibit A, and (ii) agree that (x) the Funds shall not be entitled to any additional payment as a result of the Company and its subsidiaries complying with of the terms of
the Senior Credit Facility (as amended through (but not beyond) Amendment No. 18) and (y) no Deferred Payment Termination Date shall result from (a) the Obligors and their Affiliates making mandatory prepayments, or any other
incremental payment expressly required (including, after giving effect to this Amendment 6) pursuant to the Senior Credit Facility (as amended through (but not beyond) Amendment No. 18) or (b) any commitment reductions under the Senior
Credit Facility imposed pursuant to the terms of Amendment No. 18, in each case without making a corresponding proportional additional payment to the Funds in respect of the Deferred Pension Obligations at the time that the Obligors make such
additional mandatory prepayments, other incremental payments or commitment reductions under the Senior Credit Facility (as amended through (but not beyond) Amendment No. 18). 

ARTICLE II 
  

	 	5.	 Amendments. 

 5.1        Definitions. 
 (a)        Section 1.01 of the Agreement is hereby amended by inserting the following new definitions in proper alphabetical order: 

“Amendment 6 Effective Date” means August 10, 2010. 

(b)        The defined term “Deferred Payment Termination
Date” set forth in Section 1.01 of the Agreement is amended and restated as follows: 

““Deferred Payment Termination Date” means the earliest of the occurrence of (i) December 31,
2010 (unless prior to such date the Supermajority Funds have agreed to continue deferring the Monthly Amortization Payments and Monthly Interest Payments during the 2011 calendar year), (ii) any Deferral Termination Event, (iii) an Event
of Default described in clauses (e), (f) or (g) of Article VIII herein, (iv) the occurrence of an Event of Default (other than as described in the foregoing clause (ii)) which continues without being either cured or waived in

  
 14 

 
accordance with the terms hereof within five (5) Business Days after a Financial Officer has actual knowledge of such occurrence, and (v) the amendment, modification, supplementation or
alteration of the Senior Credit Facility after the Amendment 2 Effective Date which imposes any mandatory prepayment, commitment reduction, additional interest or fee or any other incremental payment to the Lenders (as defined in the Senior Credit
Facility) not required as of the Amendment 6 Effective Date unless the Funds receive a proportionate additional payment in respect of the Deferred Pension Obligations at the time that the Obligors are required to make an additional payment to the
lenders under the Senior Credit Facility pursuant to the terms of such amendment, modification, supplementation or alteration (unless prior to such date the Supermajority Funds have agreed to (x) waive any such proportionate additional payments
and (y) continue deferring Monthly Amortization Payments and Monthly Interest Payments as otherwise required pursuant to this clause (v)); provided, that, for the avoidance of doubt, granting of consent by the lenders under the Senior Credit
Facility to permit an asset sale shall not by itself trigger this clause (v).” 
 ARTICLE III 

 

	 	6.	 Conditions Precedent. 

6.1        Effective Date. This Amendment 6 shall not
become effective until the date on which each of the following conditions is satisfied (or waived): 
 (a)        The Obligors, the Funds and the Agent shall have executed a counterpart of this Amendment 6, which may include telecopy or other electronic
transmission of a signed signature page of this Amendment 6. 

(b)        The Agent and CS Pension Fund shall have received
payment for all invoiced reasonable out-of-pocket expenses payable by the Primary Obligors under Section 11.01 of the Agreement. 
 (c)        Amendment No. 18 shall have gone effective and be in full force and effect. 
 ARTICLE IV 
  

	 	7.	 Miscellaneous. 

 7.1        Representation. The Primary Obligors represent and warrant as of the date hereof that no mandatory prepayment, commitment reduction, additional
interest or fee or any other incremental payment has been made to the Lenders (as defined in the Senior Credit Facility) after the Amendment 2 Effective Date that would have required a 

  
 15 

 
proportionate additional payment in respect of the Deferred Pension Obligations prior to giving effect to this Amendment 6 and Amendment No. 18 to the Senior Credit Facility. 

7.2        Agent. Pursuant to Section 11.04 of the
Agreement, the undersigned Funds, constituting all of the Funds party to the Agreement, hereby authorize and direct the Agent to execute, enter into and perform this Amendment 6. 

7.3        Successors and Assigns. This Amendment 6 and
all of the covenants and agreements contained herein and rights, interests or obligations hereunder, by or on behalf of any of the Parties hereto, shall bind and inure to the benefit of the respective successors and assigns of the Parties hereto
whether so expressed or not. 

7.4        Counterparts. This Amendment 6 may be executed
simultaneously in counterparts (including by means of telecopied or PDF signature pages), any one of which need not contain the signatures of more than one Party, but all such counterparts taken together shall constitute one and the same Amendment
6. 
 7.5        Descriptive Headings;
Interpretation. The headings and captions used in this Amendment 6 are for reference purposes only and shall not affect in any way the meaning or interpretation of this Amendment 6. 

7.6        Governing Law. All issues and questions
concerning the construction, validity, enforcement and interpretation of this Amendment 6 shall be governed by, and construed in accordance with, the laws of the State of New York without giving effect to any choice of law or conflict of law rules
or provisions (whether of the State of New York or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of New York. In furtherance of the foregoing, the internal law of the State of New York
shall control the interpretation and construction of this Amendment 6 (and all schedules and exhibits hereto), even though under that jurisdiction’s choice of law or conflict of law analysis, the substantive law of some other jurisdiction would
ordinarily apply. 
 7.7        No Strict
Construction. The Parties have participated jointly in the negotiation and drafting of this Amendment 6. In the event an ambiguity or question of intent or interpretation arises, this Amendment 6 shall be construed as if drafted jointly by the
Parties, and no presumption or burden of proof shall arise favoring or disfavoring any Party by virtue of the authorship of any of the provisions of this Amendment 6. 
 [SIGNATURE PAGES FOLLOW] 

  
 16 

  
 IN
WITNESS WHEREOF, the parties hereto have caused this Amendment 6 to be duly executed by their respective authorized officers as of the day and year first above written. 

 

					
	YRC INC., as an Obligor
			
	By	 	 	 	
	 Name: Phil J. Gaines

Title: Senior Vice President - CFO

	  
 USF HOLLAND, INC., as an Obligor

			
	By	 	 	 	
	 Name: Dan L. Olivier

Title: Vice President - Finance

	  
 NEW PENN MOTOR EXPRESS, INC., as
an
Obligor

			
	By	 	 	 	
	 Name: Paul F. Liljegren

Title: Vice President - Finance

	  
 USF REDDAWAY INC., as an Obligor

			
	By	 	 	 	
	 Name: Tom Palmer

Title: Vice President Finance - CFO

  
 Signature Page
to Amendment 6 to 
 Contribution Deferral Agreement 

  
 
					
	 YRC LOGISTICS SERVICES, INC., as a
 Guarantor

			
	By	 	 	 	
	Name: Brenda Stasiulis	 	
	Title: Vice President - Finance
	
	USF GLEN MOORE, INC., as a Guarantor
			
	By	 	 	 	
	Name: Phil J. Gaines
	Title: Senior Vice President - Finance
	
	 TRANSCONTINENTAL LEASE, S. DE R.L.
 DE C.V., as a Guarantor

			
	By	 	 	 	
	Name: Fortino Landeros Ruiz
	Title: Legal Representative
	
	 TRUSTEES for the CENTRAL STATES,
 SOUTHEAST AND SOUTHWEST AREAS
 PENSION FUND, as a Fund

			
	By	 	 	 	
		 	Name:	 	
		 	Title:	 	
	
	 INTERNATIONAL ASSOCIATION OF
 MACHINISTS MOTOR CITY PENSION
 FUND, as a Fund

			
	By	 	 	 	
		 	Name:	 	
		 	Title:	 	

  
 Signature Page
to Amendment 6 to 
 Contribution Deferral Agreement 

  
 
					
	 WESTERN CONFERENCE OF
 TEAMSTERS PENSION TRUST, as a Fund

			
	By	 	 	 	
	 Name:

Title:

	  

TEAMSTERS LOCAL 617 PENSION FUND,
 as a Fund

			
	By	 	 	 	
	 Name:

Title:

	  
 LOCAL 705 INTERNATIONAL

BROTHERHOOD OF TEAMSTERS
 PENSION FUND, as a
Fund

			
	By	 	 	 	
	 Name:

Title:

	  
 WESTERN CONFERENCE OF

TEAMSTERS SUPPLEMENTAL BENEFIT
 TRUST FUND, as a
Fund

			
	By	 	 	 	
	 Name:

Title:

	  
 SUBURBAN TEAMSTERS OF NO. IL.

PENSION FUND, as a Fund

			
	By	 	 	 	
	 Name:

Title:

  
 
					
	 ROAD CARRIERS LOCAL 707 PENSION
 FUND, as a Fund

			
	By	 	 	 	
	 Name:

Title:

	  
 SOUTHWESTERN PENNSYLVANIA AND

WESTERN MARYLAND TEAMSTERS &
 EMPLOYERS
PENSION FUND, as a Fund

			
	By	 	 	 	
	 Name:

Title:

	  
 HAGERSTOWN MOTOR CARRIERS AND

TEAMSTERS PENSION PLAN, as a Fund

			
	By	 	 	 	
	 Name:

Title:

	  
 TEAMSTERS LOCAL 445 PENSION FUND,

as a Fund

			
	By	 	 	 	
	 Name:

Title:

	  

I.B. of T. UNION LOCAL NO. 710 PENSION
 FUND, as a Fund

			
	By	 	 	 	
	 Name:

Title:

  
 
					
	 NEW ENGLAND TEAMSTERS &
 TRUCKING INDUSTRY PENSION FUND,
 as a Fund

			
	By	 	 	 	
	 Name:

Title:

	  
 TEAMSTERS JC 83 PENSION FUND, as a

Fund

			
	By	 	 	 	
	 Name:

Title:

	  
 MANAGEMENT LABOR WELFARE &

PENSION FUNDS LOCAL 1730, I.L.A., as a
 Fund

			
	By	 	 	 	
	 Name:

Title:

	  
 TEAMSTERS LOCAL 639 EMPLOYER’S

PENSION TRUST, as a Fund

			
	By	 	 	 	
	 Name:

Title:

  
 
					
	 CENTRAL PENNSYLVANIA TEAMSTERS
 PENSION FUND, as a Fund

			
	By	 	 	 	
	 Name:

Title:

	  
 TEAMSTERS LOCAL 641 PENSION
FUND, as a Fund

			
	By	 	 	 	
	 Name:

Title:

	  
 TEAMSTERS PENSION TRUST FUND OF

PHILADELPHIA AND VICINITY, as a Fund

			
	By	 	 	 	
	 Name:

Title:

	  
 FREIGHT DRIVERS AND HELPERS

LOCAL 557 PENSION FUND, as a Fund

			
	By	 	 	 	
	 Name:

Title:

	  
 MID-JERSEY TRUCKING IND. &

TEAMSTERS LOCAL 701 PENSION FUND, as a Fund

			
	By	 	 	 	
	 Name:

Title:

  
 
					
	 TRUCKING EMPLOYEES OF NORTH
 JERSEY WELFARE FUND INC. - PENSION
 FUND, as a Fund

			
	By	 	 	 	
	 Name:

Title:

	  

HAWAII TRUCKERS-TEAMSTERS UNION

PENSION FUND, as a Fund a

			
	By	 	 	 	
	 Name:

Title:

	  
 NEW YORK STATE TEAMSTERS

CONFERENCE PENSION AND
 RETIREMENT FUND, as a
Fund

			
	By	 	 	 	
	 Name:

Title:

	  
 EMPLOYER-TEAMSTERS LOCAL NOS.

175/505 PENSION TRUST FUND, as a Fund

			
	By	 	 	 	
	 Name:

Title:

  
 
					
	 WESTERN PENNSYLVANIA TEAMSTERS
 AND EMPLOYERS PENSION FUND, as a
 Fund

			
	By	 	 	 	
	 Name:

Title:

	  
 WILMINGTON TRUST COMPANY, as

Agent

			
	By	 	 	 	
	 Name:

Title:

  
 Exhibit A 

Amendment No. 18 to Senior Credit Facility 
 (see attached)

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