Document:

Amendment No. 4 dated December 4, 2001

Exhibit 10.42 
 
 
AMENDMENT NO. 4

TO  
CNF INC. 
VALUE MANAGEMENT PLAN 
 
CNF Inc. (formerly CNF Transportation Inc.) (the
“Company”) maintains the Value Management Plan (as heretofore amended, the “Plan”) to provide for certain long-term incentive compensation awards to be made to eligible employees. The Company hereby amends the Plan as follows
(capitalized terms used herein without definition have the meanings given to those terms in the Plan). 
 
1. Change in Definition of “Change in Control.” The definition of the term “Change in Control” appearing in
Section 2.05 is amended in its entirety so as to read as follows: 
 
“Change in Control” means the occurrence of an event described in any one of the following clauses (a) through (f): 
 

	 	(a)	 	any “person,” as such term is used in Sections 13(d) and 14(d) of the Exchange Act (other than (A) the Company or its affiliates, (B) any trustee or other
fiduciary holding securities under an employee benefit plan of the Company or its affiliates, and (C) any corporation owned, directly or indirectly, by the shareholders of the Company in substantially the same proportions as their ownership of the
common stock, par value $0.625 per share, of the Company), is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company (not including in the securities
beneficially owned by such person any securities acquired directly from the Company or its affiliates) representing 25% or more of the combined voting power of the Company’s then outstanding voting securities; 

 

	 	(b)	 	the following individuals cease for any reason to constitute a majority of the number of directors then serving: individuals who, on the Effective Date, constitute
the Board and any new director (other than a director whose initial assumption of office is in connection with an actual or threatened election contest, including but not limited to a consent solicitation, relating to the election of directors of
the Company) whose appointment or election by the Board or nomination for election by the Company’s stockholders was approved or recommended by a vote of at least two-thirds (2/3) of the directors then still in office who either were directors
on the Effective Date or whose appointment, election or nomination for election was previously so approved or recommended; 

 

	 	(c)	 	 there is consummated a merger or consolidation of the Company or any direct or indirect subsidiary of the Company with any other corporation, other than (A) a
merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving or parent
entity) more than 50% of the combined voting power of the voting securities of the 

 

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Company or such surviving or parent entity outstanding immediately after such merger or consolidation or (B) a merger or consolidation
effected to implement a recapitalization of the Company (or similar transaction) in which no “person” (as defined above), directly or indirectly, acquired 25% or more of the combined voting power of the Company’s then outstanding
securities (not including in the securities beneficially owned by such person any securities acquired directly from the Company or its affiliates); 
 

	 	(d)	 	the stockholders of the Company approve a plan of complete liquidation of the Company or there is consummated an agreement for the sale or disposition by the Company
of assets having an aggregate book value at the time of such sale or disposition of more than 75% of the total book value of the Company’s assets on a consolidated basis (or any transaction having a similar effect), other than any such sale or
disposition by the Company (including by way of spin-off or other distribution) to an entity, at least 50% of the combined voting power of the voting securities of which are owned immediately following such sale or disposition by stockholders of the
Company in substantially the same proportions as their ownership of the Company immediately prior to such sale or disposition; 

 

	 	(e)	 	there is consummated the sale or other disposition by the Company, however effected, of at least two of the three primary business units of the Company, whether in a
single transaction or in a series of transactions occurring within an 18-month period, and whether or not one or both of such business units constitute part of a larger enterprise at the time of the sale or other disposition; provided,
however, that this clause (e) shall apply only to Grantees who are employed by the Company and shall not apply to Grantees who are employed by the Company’s business units; and provided further, that the Board of Directors of the
Company may, upon notice to the affected Grantees given at any time, terminate this clause (e) without the consent of such Grantees, except that any such notice shall not be effective to terminate this clause (e) if a Change in Control occurs
pursuant to this clause (e) within ninety (90) days after such notice is given; or 

 

	 	(f)	 	there is consummated the sale or other disposition, however effected, of one of the primary business units of the Company, or the sale or other disposition by the
Company, however effected, of the Emery Worldwide Airlines, Inc. business unit, whether or not such business unit constitutes part of a larger enterprise at the time of the sale or other disposition; provided, however, that this clause (f)
shall apply only to Grantees (i) who, immediately prior to such sale or other disposition, were employed by the business unit that is sold or otherwise disposed of and (ii) who are not employed by the Company or any of its Subsidiaries immediately
following such sale or other disposition.  

 
     As used in clauses (e) and (f) above: 
 

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	 	(i)	 	“primary business units” means Con-Way Transportation Services, Inc., Emery Air Freight Corporation and Menlo Logistics, Inc., and

 

	 	(ii)	 	a “sale or other disposition” of a business unit includes: 

 

	 	(A)	 	a sale by the Company of the then outstanding shares of capital stock of the business unit having more than 50% of the then existing voting power of all outstanding
securities of the business unit, whether by merger, consolidation or otherwise; 

 

	 	(B)	 	the sale of all or substantially all of the assets of the business unit; and 

 

	 	(C)	 	any other transaction or course of action (including, without limitation, a spin-off or other distribution) engaged in, directly or indirectly, by the Company or the
business unit that has a substantially similar effect as the transactions of the type referred to in clause (A) or (B) above; 

 
it being the intent that a sale or other disposition of a business unit occurs even if (x) such business unit constitutes part of a
larger enterprise at the time of the relevant sale or disposition transaction and (y) such sale or disposition transaction involves such larger enterprise (such as, by way of example and without limitation, when one or more business units are
subsidiaries of a common parent and either (A) the common parent is spun-off or (B) there is consummated a sale of the stock or other equity interests in the common parent having more than 50% of the then existing voting power of all outstanding
securities of the common parent). 
 
The foregoing
notwithstanding, (1) a sale or other disposition of a business unit shall not be deemed to have occurred for purposes of clauses (e) and (f) above (x) except in the case of a transaction described in clause (B) above, so long as the Company or any
of its Affiliates (as such term is defined in Rule 12b-2 under the Securities Exchange Act of 1934, as amended), individually or collectively, own the then outstanding shares of capital stock of the business unit having 50% or more of the then
existing voting power of all outstanding securities of the business unit, or (y) in the event of the sale of shares of capital stock of the business unit (or the sale of shares or other equity interests in any parent company of such business unit)
to any trustee or other fiduciary holding securities under an employee benefit plan of the Company, the business unit or any other Affiliate of the Company, and (2) a sale or other disposition of a business unit shall not be deemed to have occurred
for purposes of clause (f) above in the event of the sale or distribution of shares of capital stock (including, without limitation, a spin-off) of the 

 

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business unit to shareholders of the Company, or the sale of assets of the business unit to any corporation or other entity owned, directly
or indirectly, by the shareholders of the Company, in either case in substantially the same proportions as their ownership of stock in the Company. 

 
2. Effective Date; No Other Amendments. The effective date of this Amendment shall be December 4, 2001. Except as
expressly amended hereby, the Plan remains in full force and effect. 
 
 

	 CNF TRANSPORTATION INC.

	
	 By:
	 	

	 Name:
	 	 Eberhard G.H. Schmoller

	 Title:
	 	 Senior Vice President, General

	 	 	 Counsel and Secretary

	
	 Executed:  December 4, 2001

 

4EXHIBIT 4.1

                                 AMENDMENT NO. 1
                                       TO
                             KINGDOM VENTURES, INC.
                          2003 STOCK COMPENSATION PLAN

SECTION  1.  THE  PLAN. This is Amendment No. 1 (the "Amendment") to the Kingdom
Ventures, Inc. 2003 Stock Compensation Plan (the "Plan").  All capitalized terms
used  but not otherwise defined in this Amendment have the definitions set forth
in  the  Plan.

SECTION 2. STOCK RESERVED FOR THE PLAN. Section 3 of the Plan is amended to read
as  follows  in  its  entirety:

     Subject  to  adjustment  as  provided  in  Section  5(d)(xiii)  hereof  the
     aggregate  number  of shares that may be optioned, subject to conversion or
     issued  under  the  Plan  is  8,100,000  shares  of Common Stock, warrants,
     options,  preferred stock or any combination thereof. The shares subject to
     the  Plan  shall  consist of authorized but unissued shares of Common Stock
     and such number of shares shall be and is hereby reserved for sale for such
     purpose.  Any  of  such  shares  which  may remain unsold and which are not
     subject  to  issuance  upon  exercise of outstanding options or warrants or
     conversion  of  outstanding shares of preferred stock at the termination of
     the  Plan shall cease to be reserved for the purpose of the Plan, but until
     termination  of  the  Plan or the termination of the last of the options or
     warrants  granted  under the Plan, whichever last occurs, the Company shall
     at all times reserve a sufficient number of shares to meet the requirements
     of  the  Plan. Should any option or warrant expire or be cancelled prior to
     its  exercise  in  full,  the  shares theretofore subject to such option or
     warrant  may  again  be  made  subject  to  an option, warrant or shares of
     convertible  preferred  stock  under  the  Plan.

SECTION  3. RATIFICATION OF PLAN. Except as otherwise amended by this Amendment,
the  Plan  is  ratified  in  all respects and any outstanding shares, options or
warrants granted under the Plan shall be governed by the Plan as amended hereby.

SECTION  4.  This  Amendment shall be effective on the date the Board adopts the
Amendment.  The  Amendment  shall  expire  on the same date as the Plan expires.

SECTION  5.  GOVERNING LAW. This Amendment and any agreements hereunder shall be
interpreted  and  construed  in  accordance  with  the  laws  of  the  state  of
incorporation  of  the  Company  and  applicable  federal  law.

<PAGE>

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