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SUMMARY OF COMPENSATION ARRANGEMENTS

 EXHIBIT 10.12 
  
 Summary of Compensation Arrangements for Directors, 
 Chief Executive Officer, and Certain Other Executive Officers 
  
 Overnite Corporation (“Overnite”) does not have any employment agreements with its directors or employees. Provided below is a summary of
Overnite’s compensation for its directors, chief executive officer, and certain other executive officers as of January 27, 2005. 
  
 Summary of Directors’ Compensation 
  
 Effective as of January 1, 2005, all non-employee directors receive a retainer of $55,000 per year. Chairpersons of board committees, other than the
chairperson of the Audit Committee, receive an additional annual retainer of $10,000, and the chairperson of the Audit Committee receives an additional annual retainer of $20,000. Half of the retainers are payable in cash and half in shares of
Overnite common stock, unless the director elects to receive more than half of the retainer in shares of Overnite common stock. On January 27, 2005, each non-employee director received 1,000 shares of restricted stock, which will vest on January 27,
2008. 
  
 Employee directors do not receive additional
compensation for their service on the Board of Directors. 
  
 Summary of
Chief Executive Officer’s Compensation 
  
 Base Salary.
Effective as of January 1, 2005, Leo H. Suggs, Overnite’s Chief Executive Officer (“CEO”), will receive a base salary of $689,000 for 2005. 
  
 Annual Incentive Award. On January 27, 2005, the Executive Compensation Committee approved an annual incentive award for 2004 for Mr. Suggs of $775,000 under the
Overnite Corporation Executive Incentive Compensation and Deferral Plan (the “EIP”), payable in cash or deferrable under the EIP. Mr. Suggs deferred such annual incentive award under the equity swap provisions (the “Equity Swap
Plan”) of the EIP, which allows an executive officer who has attained age 65 an election to forego all or a portion of his respective incentive award in exchange for grants of retention stock units equivalent to 133% of the value of the amount
foregone, subject to a two-year vesting period. These retention stock units are valued based on $32.10, the closing price of Overnite’s common stock on January 27, 2005, the date of the grant. Mr. Suggs deferred his annual incentive award under
the Equity Swap Plan in exchange for 32,111 shares of retention stock units. He is entitled to receive dividend equivalents on the retention stock units during the vesting period that are paid at the same rate and time as dividends would have been
paid on an equivalent number of shares of Overnite common stock. 
  
 The Executive
Compensation Committee will consider an annual incentive award for Mr. Suggs for 2005. In determining annual incentive awards for Mr. Suggs, the Executive Compensation Committee considers quantitative performance metrics, including revenue,
operating income, net income, operating ratio, and free cash flow, and qualitative measures, including product quality (on-time service and cargo claims), ethics/corporate governance, employee relations/morale, advancement of strategy, and
succession planning. 
  
 Restricted Stock. On January 27, 2005, the
Executive Compensation Committee approved the grant of 5,000 shares of restricted stock to Mr. Suggs pursuant to the Overnite Corporation Stock Incentive Plan (the “Incentive Plan”). These shares of restricted stock vest three years from
the grant date; provided, however, these shares of restricted stock shall also fully vest in the event Mr. Suggs retires on or after January 31, 2007, provided that he remains in the continuous employ of Overnite until his retirement. Mr. Suggs is
entitled to receive dividends on these shares of restricted stock at the same rate and same time as dividends would have been paid on all other shares of Overnite common stock. 
  
 Long-Term Incentive Program. Mr. Suggs may be able to earn performance shares and cash awards under Overnite’s Long-Term Incentive
Program as described below. 
  
 Other Compensation Arrangements. Other
compensation to Mr. Suggs for 2004 consisted of executive life insurance premiums ($59,771), company-matching contributions to employee contributions to our 401(k) plans ($20,181), 

 
Group Term Life ($6,841), and interest earned under the savings plan for employees of Overnite Transportation ($90). Other perquisites for Mr. Suggs totaled
less than $50,000 and consisted of payments associated with items such as personal use of company car, country club dues, and financial planning services. 
  
 Salary of Other Executive Officer Compensation 
  
 Base Salaries. Effective as of January 1, 2005, the executive officers (other than the CEO) named in the 2004 Proxy Statement (the “Named Executive
Officers”) will receive the following base salaries for 2005: 
  

				
	 Name

	  	 Annual
 Base Salary

	 Patrick D. Hanley
	  	$	301,350
	 Gordon S. Mackenzie
	  	$	290,000
	 John W. Fain
	  	$	242,000
	 Mark B. Goodwin
	  	$	229,000

  
 Annual Incentive Awards. On
January 27, 2005, the Executive Compensation Committee approved annual incentive awards under the EIP for 2004, payable in cash or deferrable under the EIP, to the Named Executive Officers, as follows: 
  

				
	 Name

	  	Annual
Incentive Award

	 Patrick D. Hanley
	  	$	350,000
	 Gordon S. Mackenzie
	  	$	325,000
	 John W. Fain
	  	$	325,000
	 Mark B. Goodwin
	  	$	165,000

  
 The Equity Swap Plan allows executive
officers under the age of 65 an option to forego all or a portion of their respective incentive awards in exchange for grants of retention stock units equivalent to 150% of the incentive amount foregone, subject to a three-year vesting period. These
retention stock units are valued based on $32.10, the closing price of Overnite common stock on January 27, 2005, the date of the grant. Messrs. Fain and Goodwin deferred their annual incentive awards under the Equity Swap Plan in exchange for
15,187 and 7,710 shares of retention stock units, respectively. They are entitled to receive dividend equivalents on the retention stock units during the vesting period that are paid at the same rate and time as dividends would have been paid on an
equivalent number of shares of Overnite common stock. 
  
 The Executive
Compensation Committee will consider annual incentive awards for the Named Executive Officers in 2005. In determining annual incentive awards, the Executive Compensation Committee considers quantitative performance metrics, including revenue,
operating income, net income, operating ratio, and free cash flow, and qualitative measures, including product quality (on-time service and cargo claims), ethics/corporate governance, employee relations/morale, advancement of strategy, and
succession planning. 
  
 Restricted Stock. On January 27, 2005, the
Executive Compensation Committee approved the grant of shares of restricted stock to the Named Executive Officers pursuant to the Incentive Plan in the amounts indicated below: 
  

			
	 Name

	  	 Shares of
Restricted
 Stock

	 Patrick D. Hanley
	  	5,000
	 Gordon S. Mackenzie
	  	5,000
	 John W. Fain
	  	5,000
	 Mark B. Goodwin
	  	3,000

  
 The shares of restricted stock vest
three years from the grant date. 

 Other Compensation Arrangements. Other compensation for each of the Named Executive Officers for 2004 consisted
of: (a) executive life insurance premiums (Mr. Hanley, $7,671; Mr. Mackenzie, $7,876; Mr. Fain, $3,027; and Mr. Goodwin, $4,481); (b) company-matching contributions to employee contributions to our 401(k) plans (Mr. Hanley, $10,296; Mr. Mackenzie,
$9,664; Mr. Fain, $8,295; and Mr. Goodwin, $7,612); and (c) Group Term Life (Mr. Hanley, $1,932; Mr. Mackenzie, $1,798; Mr. Fain, $515; and Mr. Goodwin, $774). Other perquisites for the Named Executive Officers totaled less than $50,000 each and
consisted of payments associated with items such as personal use of company car, financial planning services, and country club dues. 
  
 Potential Awards for the CEO and the Named Executive Officers under the Overnite Long-Term Incentive Program. Under the Overnite Long-Term Incentive Program, the
CEO and the Named Executive Officers may be able to earn performance shares and cash awards depending upon Overnite’s ability to achieve a three-year cumulative earnings per share target ranging from $5.26 to $5.88 for fiscal years 2004, 2005,
and 2006. No performance shares or cash awards are earned if the minimum earnings performance target is not met. Varying levels of awards may be earned based upon the extent to which the performance target is reached, with minimum and maximum awards
for the CEO and the Named Executive Officers as follows: 
  
 Leo H. Suggs, cash
award of $468,750 to $1,406,250 and share award of 15,121 shares to 45,363 shares; Patrick D. Hanley, Gordon S. Mackenzie, and John W. Fain, cash awards of $230,000 to $690,000 and share awards of 7,419 shares to 22,258 shares; and Mark B. Goodwin,
cash award of $125,000 to $375,000 and share award of 4,032 shares to 12,097 shares. 
  
 Additionally, if the three-year cumulative earnings per share is between $5.26 and $5.55 and Overnite’s stock price exceeds $35.00 for 20 consecutive days, a premium payment of up to 15% of the cash component will be paid in addition
to the award. Any additional payment will be either 15% of the cash target amount payable for achieving the earnings per share target or an amount that, when added to the earnings per share payment, equals 100% of the cash target award, whichever is
less.FORM OF RESTRICTED STOCK AWARD

 EXHIBIT 10.13 
  
 OVERNITE CORPORATION 
  
 Restricted Stock Award Agreement 
  
 THIS AGREEMENT dated as of the      day of
                , 200    , between OVERNITE CORPORATION, a Virginia corporation (the “Company”) and
                                        
         (“Participant”) is made pursuant and subject to the provisions of the Overnite Corporation Stock Incentive Plan (the “Plan”), a copy of which has been made available to
Participant. All terms used herein that are defined in the Plan have the same meaning given them in the Plan. 
  
 1. Award of Stock. Pursuant to the Plan, the Company, on
                , 200     (the “Date of Grant”), granted to Participant, subject to the terms and conditions of the Plan and
subject further to the terms and conditions herein set forth, a Stock Award of                  shares of Common Stock, hereinafter described as “Restricted
Stock”. 
  
 2. Restrictions. Except as provided
in this Agreement, the shares of Restricted Stock are nontransferable and are subject to a substantial risk of forfeiture. 
  
 3. Stock Power. With respect to shares of Restricted Stock forfeited under paragraph 6, the Participant does hereby irrevocably constitute
and appoint the Company’s General Counsel and any Associate General Counsel of the Company as Participant’s attorney to transfer the forfeited shares on the books of the Company with full power of substitution in the premises. The General
Counsel and/or any Associate General Counsel shall use the authority granted in this paragraph 3 to cancel any shares of Restricted Stock that are forfeited under paragraph 6. 
  
 4. Vesting. Subject to paragraph 6 and except as provided in paragraphs 5 and 7 below, Participant’s
interest in all of the shares of Restricted Stock shall become transferable and nonforfeitable (“Vested”) on the third anniversary of the Date of Grant. 
  
 5. Death or Disability. Paragraph 4 to the contrary notwithstanding, in the event Participant
dies or becomes permanently and totally disabled within the meaning of Section 22(e)(3) of the Code (“Permanently and Totally Disabled”) while employed by the Company or an Affiliate and prior to the forfeiture of the shares of Restricted
Stock under paragraph 6, all shares of Restricted Stock that are not then Vested shall become Vested as of the date of Participant’s termination from the employ of the Company and its Affiliates on account of death or Participant’s
becoming Permanently and Totally Disabled. 

 6. Forfeiture. All shares of Restricted Stock that are not then Vested shall be forfeited
if the Participant’s employment with the Company and its Affiliates terminates before the third anniversary of the Date of Grant for any reason other than on account of the Participant’s death or becoming Permanently and Totally Disabled.

  
 7. Change in Control. Notwithstanding any other
provision of this Agreement, all shares of Restricted Stock not previously forfeited shall become Vested on a Control Change Date. 
  
 8. Custody of Certificates. Stock certificates evidencing the shares of Restricted Stock shall not be delivered to Participant. Upon
Participant’s request, the Company’s transfer agent shall deliver to Participant stock certificates evidencing the shares of Restricted Stock that Vest upon Participant’s request. 
  
 9. Fractional Shares. A fractional share shall not be issued
hereunder, and when any provision hereof may cause a fractional share to be issued, any such fractional share shall be disregarded. 
  
 10. No Right to Continued Employment. This Agreement does not confer upon the Participant any right to continuance of employment by the
Company or an Affiliate, nor shall it interfere in any way with the right of the Company or an Affiliate to terminate Participant’s employment at any time. 
  

11. Change in Capital Structure. The terms of this Agreement shall be adjusted as the Committee determines is equitably required in the
event that (a) the Company (i) effects one or more stock dividends, stock split-ups, subdivisions or consolidations of shares or (ii) engages in a transaction to which Section 424 of the Code applies or (b) there occurs any other event which, in the
judgment of the Committee, necessitates such action. 
  
 12.
Governing Law. This Agreement shall be governed by the laws of the Commonwealth of Virginia. 
  
 13. Conflicts. In the event of any conflict between the provisions of the Plan as in effect on the date hereof and the provisions of this
Agreement, the provisions of the Plan shall govern. All references herein to the Plan shall mean the Plan as in effect on the date hereof. 
  
 14. Participant Bound by Plan. Participant hereby acknowledges that a copy of the Plan has been made available to Participant and agrees to
be bound by all the terms and provisions thereof. 
  
 15.
Binding Effect. Subject to the limitations stated above and in the Plan, this Agreement shall be binding upon and inure to the benefit of the legatees, distributees, and personal representatives of Participant and the successors of the
Company. 
  

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 16. Tax Withholding. Participant shall make arrangements, satisfactory to the Company, for
the satisfaction of income and employment tax withholding requirements related to the Restricted Stock. In accordance with procedures established by the Committee, Participant may surrender shares of Common Stock, including shares of Restricted
Stock, in satisfaction of the tax withholding requirement; provided, however, that the number of shares surrendered or withheld shall be determined using the Fair Market Value of the Common Stock on the date that the Restricted Stock becomes Vested
(or the Date of Grant if Participant makes an election under Code section 83(b) with respect to the Restricted Stock) and the minimum rate at which income and employment taxes must be withheld. 
  
 IN WITNESS WHEREOF, the Company has caused this Agreement to be signed by a
duly authorized officer, and Participant has affixed his signature hereto. 
  

	
	OVERNITE CORPORATION
	  
  

	  
  
  

	             Participant

  

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