Document:

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                                                                    EXHIBIT 10.2

                              THE HUB GROUP LIMITED

                          EXECUTIVE SHARE PURCHASE PLAN

                                  January 1999

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                              THE HUB GROUP LIMITED

                          EXECUTIVE SHARE PURCHASE PLAN

                                   ARTICLE 1.

                                     GENERAL

1.1.   DEFINITIONS

       For the purpose of this Plan, the following terms shall have the
following meanings:

(a)    "BOARD" means the Board of Directors of the Company;

(b)    "COMPANY" means The Hub Group Limited and any successor corporation, and
       any reference herein to action by the Company means action by or under
       the authority of its Board of Directors;

(c)    "EXECUTIVE" means a person employed by, or providing services pursuant to
       a written services agreement to, a Participating Company, whether or not
       on a full time basis, who is an officer or director of a Participating
       Company and who, in the opinion of the Company, bears a substantial
       responsibility for the management and growth of a Participating Company,
       and who has been designated by the Board as an Executive for purposes of
       this Plan;

(d)    "MARKET VALUE" means, with reference to Shares on a certain date, the
       weighted average trading price of the Shares on The Toronto Stock
       Exchange (or, if the Shares are not listed on The Toronto Stock Exchange,
       such other exchange as is designated by the Board) for the five trading
       days prior to that date, provided that, if the Shares are not listed on
       any stock exchange, "Market Value" shall be determined by the Board,
       acting reasonably;

(e)    "PARTICIPANT" means an Executive who has elected to participate in this
       Plan, who has applied for and been granted a loan pursuant to the
       provisions of this Plan and on whose behalf the Trustee has purchased
       Shares, so long as the loan or any part thereof remains outstanding or so
       long as any Shares purchased have not vested pursuant to Section 2.8 and
       the personal representatives, heirs and assigns of such Executive;

(f)    "PARTICIPATING COMPANY" means the Company and each of its Subsidiaries
       that shall have elected to participate in this Plan with the consent of
       the Company and, when referred to in the context of a loan, shall mean
       the Participating Company by which or through which the loan was made or
       arranged, as the case may be;

(g)    "PLAN" means this Executive Share Purchase Plan and any amendments or
       supplements thereto;

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                                      -2-

(h)    "REPAYMENT DATE" means the date on which a loan made under this Plan is
       to be paid in full;

(i)    "REPAYMENT PERCENTAGE" has the meaning given to that term in section
       2.7(c);

(j)    "RETIREMENT" means in respect of a particular Participant, such person's
       retirement, at normal retirement age applicable in the Participating
       Company, from employment with such Participating Company or, in the case
       of a Participant who has a written agreement of employment with the
       respective Participating Company, in accordance with such agreement of
       employment (and, for the purpose of this agreement "written agreement of
       employment" shall include a producer or other written services
       agreement);

(k)    "SHARES" means fully paid and non-assessable Common Shares of the
       Company;

(l)    "SPECIFIED MAXIMUM" has the meaning given to that term in section 1.2.1.

(m)    "SUBSIDIARY" means a company, at least a majority of the voting stock of
       which, except for qualifying shares, is beneficially held, directly or
       indirectly, by the Company or another Subsidiary; and

(n)    "TRUSTEE" means the trustee from time to time appointed for purposes of
       this Plan pursuant to section 2.12 or the trustee from time to time.

1.2.   SHARES ISSUABLE UNDER THIS PLAN

1.2.1. The maximum number of Shares (the "Specified Maximum") which may be
reserved for issuance from treasury under this Plan is 1,000,000. The aggregate
number of Shares reserved for issuance which may be issued to any one person or
to associates of that person under this Plan shall be 5% of all issued voting
shares of the Company (on a non-diluted basis) less the aggregate number of
voting shares of the Company reserved for issuance to such person or associates
of such person under any other employee stock option plan, options for services,
employee stock purchase plans or other share compensation arrangements (or the
lesser of such other percentages as may from time to time be prescribed by the
stock exchanges on which the voting shares of the Company are then listed). For
the purposes of this section, the terms "associate" and "share compensation
arrangement" have the meaning assigned to those terms under the applicable rules
of The Toronto Stock Exchange.

1.2.2. No fractional shares shall be issued under this Plan and the Board may
determine the manner in which fractional share value shall be treated.

1.2.3. In the event of any change in the outstanding Shares by reason of any
stock dividend or split, recapitalization, merger, consolidation, combination or
exchange of shares, or other corporate change, the Board shall make, subject to
the prior approval of the relevant stock exchanges, appropriate substitution or
adjustment in the number or kind of shares or other securities reserved for
issuance pursuant to the Plan; provided, however, that no substitution or
adjustment shall obligate the Company to issue or sell fractional shares. In the
event of the reorganization of the Company or the amalgamation, merger or
consolidation of the Company

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                                      -3-

with another corporation, the Board may make such provision for the protection
of the rights of Participants as the Board in its discretion deems appropriate.

1.3.   APPLICABLE LAW

       The laws of the Province of Ontario shall apply to this Plan, any
amendments thereto, and the administration thereof, and all rights and
obligations thereunder shall be determined in accordance with such laws.

1.4.   WORDS, ETC.

       In the Plan, words importing the singular number include the plural and
vice versa and words importing the masculine gender include feminine and neuter
genders.

                                   ARTICLE 2.

                                    THE PLAN

2.1.   PURPOSE

       The purpose of this Plan is to advance the interests of the Company and
its Subsidiaries by encouraging and enabling the acquisition of a share interest
in the Company by certain executives of the Company and its Subsidiaries.

2.2.   ELIGIBILITY

       The Board shall determine the Executives who shall be eligible to
participate in this Plan and the maximum number of Shares which each eligible
Executive is entitled to buy under this Plan. In making such determination, the
Board shall consider, but shall not be bound by, any recommendation made by the
President of the Participating Company that employs, or has contracted for
services of, the respective Executive.

2.3.   PARTICIPATION

       Participation in this Plan shall be entirely voluntary and any decision
not to participate shall not affect an Executive's employment with any
Participating Company. An Executive who is eligible may elect to participate in
this Plan by submitting an application for a loan from a Participating Company
in accordance with the provisions of section 2.4, and such application shall for
all purposes be deemed to be an application to participate in this Plan.

2.4.   APPLICATION FOR LOAN

       An Executive may apply to a Participating Company for a loan to such
Executive appropriate to purchase a number of Shares (up to the maximum
established for such Executive pursuant to section 2.2) in blocks of 10, to be
advanced to and used by the Trustee for the purchase from the Company or in the
market of Shares for the account of the Participant. The whole or any part of
the loan may be granted by a Participating Company (subject to applicable law)
or arranged by a Participating Company to be made by any other third party
acceptable to such Participating Company.

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                                      -4-

2.5.   PURCHASE OF SHARES

       The amount of any loan granted to a Participant pursuant to the
provisions of section 2.4 shall be used for the purchase by the Trustee of
Shares in the market or, if determined by the Board or by regulation, shall be
used for the purchase by the Trustee of Shares from the Company. The price for
which Shares shall be purchased by the Trustee from the Company and issued by
the Company shall be equal to the Market Value of Shares on the trading day
immediately preceding the day as of which the Shares are authorized to be issued
as determined by resolution of the Board from time to time. Where the Trustee
purchases Shares in the market the purchase price allocated to the Shares shall
be the actual purchase price of the Shares or as otherwise determined by the
Board. In addition to the amount of any loan granted to a Participant pursuant
to section 2.4, the Company will provide the Trustee with all additional amounts
required to make such market purchases. The Trustee shall make all purchases in
the open market as soon as is practicably possible after receipt from the
Participant or the Company of the amounts required to make such market purchase
or as otherwise instructed in writing by the Participant.

       All Shares purchased by the Trustee pursuant to the provisions of this
section 2.5 shall be allotted and issued to the Trustee and the certificates in
respect thereof shall be registered in the name of the Trustee.

       Unless and until a Participant shall become disentitled under this Plan,
and subject to the provisions of this Plan, all rights with respect to Shares
held by the Trustee on behalf of a Participant, including voting rights, shall
be exercised by the Participant, and any dividends payable on such Shares shall
be paid to the Participant so long as those Shares are held by the Trustee on
behalf of the Participant.

2.6.   SHARES AS SECURITY

       All Shares purchased by the Trustee pursuant to the provisions of section
2.5 and the certificates representing the Shares, together with any Shares
issued to a Participant as a result of a stock split (or a stock dividend in
lieu of a stock split) of the Shares (the "Additional Shares") and the
certificates representing such Additional Shares, shall be held by the Trustee
as security for repayment of the loan as provided in section 2.7 and,
notwithstanding the repayment of the loan, shall also be held by the Trustee
until such Shares shall have become vested in the Participant as provided in
section 2.8.

       In the event that the Market Value of the Shares and the Additional
Shares held by the Trustee as security for repayment of the loan is greater or
less than the outstanding amount of the loan, the Company will have the
authority to require increases or permit decreases in the number of Shares held
by the Trustee as security.

2.7.   REPAYMENT OF LOANS

(a)    All loans shall have a term of 10 years and shall be repayable in full on
       the last day of the term thereof or such earlier date as provided for
       herein.

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                                      -5-

(b)    Except as provided for in section 2.10(a), Participants shall not be
       required to make payments of any interest on the principal amount of any
       loan from time to time outstanding.

(c)    Unless otherwise approved by the Company, a Participant shall only be
       permitted to prepay the balance of each loan outstanding after the first
       anniversary date of the loan and then, during each year that the loan
       remains outstanding thereafter, only to the extent of 10 percent (the
       "Repayment Percentage") of the original amount of the loan provided that
       the allowed prepayment shall at all times be calculated on a cumulative
       basis and carried forward if not made in prior years.

(d)    Notwithstanding sections 2.5 and 2.7(c), unless otherwise approved by the
       Company, all dividends received on the shares and the proceeds from the
       sale of any Shares of a Participant shall be used by the Participant to
       repay the outstanding loans of such Participant.

2.8.   RIGHTS OF PARTICIPANT WITH RESPECT TO SHARES HELD BY TRUSTEE

(a)    The provisions of this section 2.8 shall apply with respect to all Shares
       (including Additional Shares) held by the Trustee notwithstanding the
       repayment in whole or in part of loans. Shares which have vested pursuant
       to the provisions of this section 2.8 shall not be released to a
       Participant as long as they are held as security for a loan pursuant to
       the provisions of section 2.6.

(b)    All Shares acquired by the Trustee on behalf of a Participant shall be
       held by the Trustee until the Shares (including Additional Shares) become
       vested and the Shares (including Additional Shares) shall not become
       vested except as hereinafter provided. Certificates for Shares which
       become vested and which are not being held by the Trustee as security for
       a loan shall be delivered by the Trustee to the Participant on whose
       behalf such Shares are held.

(c)    Except as hereinafter provided, the number of Shares (including
       Additional Shares) of a Participant that become vested shall be equal to
       that percentage of the original number of Shares (together with the
       Additional Shares) acquired by the Trustee on the Participant's behalf
       equal to the Repayment Percentage on each anniversary of the date on
       which the Shares are authorized to be issued, so that the number of
       Shares (together with the Additional Shares) of a Participant equal to
       the Repayment Percentage of the original number of Shares (together with
       the Additional Shares) will become vested on the first anniversary; the
       number equal to two times the Repayment Percentage of such original
       number of Shares (together with the Additional Shares) will have become
       vested, on a cumulative basis, on the second anniversary; and so on from
       time to time until all such original number of Shares (together with the
       Additional Shares) will have become vested on the tenth anniversary of
       the date on which the Shares are authorized to be issued.

(d)    Notwithstanding section 2.8(c), the Shares (including Additional Shares)
       of a Participant held by the Trustee on his behalf shall become vested
       upon the death or, at the discretion of the Company, on the Retirement of
       the Participant.

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                                      -6-

(e)    The Company may in its sole discretion determine that in certain
       circumstances, such as early retirement or termination of employment or a
       services agreement, or in the event that the Market Value of the Shares
       exceeds the amount of the loan outstanding, all or a portion of the
       Shares of a Participant held by the Trustee on his behalf shall become
       vested without further effluxion of time.

(f)    The Shares (including Additional Shares) of a Participant held by the
       Trustee on the Participant's behalf which have not yet become vested at
       the time a Participant becomes disentitled under this Plan shall not
       become vested on or after the time a Participant ceases to be a
       Participant, except at the discretion of the Company.

(g)    Each Participant shall by accepting Shares issued to him under this Plan,
       grant, and does hereby grant, to the Company the right, for a period of
       90 days following the time at which the Company gives notice to the
       Trustee, pursuant to section 2.10(a), that the Participant has become
       disentitled under this Plan, to purchase any Shares which have not been
       vested in the Participant at a price equal to their original purchase
       price.

2.9.   EVENTS OF DISENTITLEMENT

(a)    The following events shall be events of disentitlement under this Plan:

       (i)    if the Participant retires from the employ of a Participating
              Company before the Participant's normal time of retirement; and

       (ii)   if the Participant resigns or is dismissed from employment with a
              Participating Company.

(b)    Notwithstanding section 2.9(a), if a Participant:

              (i)    dies before repayment in full of all loans made to the
                     Participant pursuant to this Plan, the Participant's
                     representatives shall be the Participant (with respect to
                     all Shares purchased prior to the death of the original
                     Participant) in lieu of the deceased and shall not become
                     disentitled under this Plan unless and until the Company
                     otherwise determines; or

              (ii)   reaches Retirement or suffers a disability within the
                     meaning of the Participant's employment or services
                     agreement before repayment in full of all loans made to the
                     Participant pursuant to this Plan he shall not become
                     disentitled under this Plan unless and until the Company
                     otherwise determines.

2.10.  IN CASE OF DISENTITLEMENT

(a)    If an event of disentitlement described in section 2.9 shall have
       occurred, the Participant connected with the event shall become
       disentitled under this Plan immediately unless the Company, in its
       discretion, determines that the Participant shall not become disentitled
       until a later date. The Company may, at any time after the Participant
       becomes disentitled, in its sole discretion, give notice to the Trustee
       and the Participant that the Participant is disentitled under this Plan
       and the amount of any loan to such Participant

<PAGE>

                                      -7-

       will become immediately due and payable. In the event that a Participant
       fails to repay the full amount of any loan on it becoming due (whether
       under this provision or any other provision of this Plan), such
       outstanding amount will accrue interest for payment by the Participant at
       the prime rate of interest as quoted by the Company's principal bank at
       such time plus 2%.

(b)    If a notice of disentitlement is given to the Trustee pursuant to the
       provisions of section 2.10(a), the Trustee may at any time and from time
       to time sell on the open market and without notice to the Participant
       disentitled under this Plan that number of the Shares (including
       Additional Shares) which have vested but which have not been released
       and, if required, that number of the Shares (including Additional Shares)
       which have not yet vested, held by the Trustee on behalf of the
       Participant, required to repay in full the outstanding loans, as
       contemplated by section 2.10(c) and for the purposes of this section,
       such Shares (including Additional Shares) shall be deemed to have vested.

(c)    If any loans in favour of any Participant with respect to whom a notice
       of disentitlement has been issued are outstanding, the Trustee shall
       apply the net proceeds from any sale of the Shares (including Additional
       Shares) to the payment of any unpaid principal of the loans. The
       Participant shall remain liable to the Participating Company or the third
       party lender, as the case may be, for the balance, if any, unpaid on the
       loans.

(d)    Subject to any sale and application provided for in sections 2.10(b) and
       2.10(c), respectively, above, the Trustee shall provide to the
       Participant with respect to whom a notice of disentitlement has been
       issued the unsold Shares (including Additional Shares) of the Participant
       which have become vested pursuant to section 2.8.

(e)    Subject to section 2.10(b) and any application provided for in section
       2.10(c), the Trustee shall sell to the Company, if the Company has
       exercised the purchase option available to it in section 2.8(g), in
       fulfillment of the right of the Company to purchase described in that
       section, unsold Shares (including Additional Shares) of the Participant
       disentitled under this Plan which have not become vested and which are
       designated at the price set out in section 2.8(g). If the Company has not
       exercised such option or upon completion of the exercise of such option,
       as the case may be, all unsold Shares (including Additional Shares) shall
       be vested and delivered to the Participant.

(f)    Subject to the provisions of this section 2.10, if the Trustee holds
       Shares (including Additional Shares) of a Participant with respect to
       whom a notice of disentitlement has been issued, some of which have
       vested and some of which have not, or the Trustee holds Shares of such
       Participant which were acquired for different original prices by the
       Trustee on behalf of the Participant, and if, on any sale of Shares
       (including Additional Shares), the Trustee shall sell less than all such
       Shares (including Additional Shares), the Trustee shall in its sole
       discretion identify the Shares (including Additional Shares) so sold as
       vested and/or not vested and shall identify such Shares (including
       Additional Shares) with the original prices as the Trustee shall
       determine.

2.11.  ACCOUNTS AND STATEMENTS

       The Trustee shall maintain records indicating the number of Shares
purchased on behalf of each Participant, the number of Shares (including
Additional Shares) in respect of each

<PAGE>
                                      -8-

Participant which have been disentitled from time to time and the repayments
made by each Participant in respect of each loan granted to him pursuant to the
provisions of this Plan. Upon written request therefor from any Participant, the
Trustee shall furnish to such Participant a statement indicating the number of
Shares (including Additional Shares) held by the Trustee on his behalf and the
balance outstanding in respect of each loan granted to him. Each of such
statements shall be deemed to have been accepted by the Participant as correct
unless written notice to the contrary has been received by the Trustee within 30
days after the mailing of such statement to the Participant.

2.12.  THE TRUSTEE

       The Company shall appoint an independent trust company to act as Trustee
of this Plan. The Company may at any time or times remove any Trustee so
appointed and may appoint a successor or successors to fill any vacancy created
by any reason whatever.

       The Trustee may delegate to any Participating Company or to any
corporation authorized to carry on the business of a trust corporation in Canada
the duty to maintain records and to furnish statements in connection with all
aspects of this Plan. The Trustee shall not be liable for any action or failure
to act under or in connection with this Plan of the person to whom it has
delegated the said duty, except for its own bad faith. The Trustee shall be
indemnified and held harmless by the Company against and from any and all loss,
cost, liability or expense that may be imposed upon or reasonably incurred by it
in connection with or resulting from any claim, action, suit or proceeding to
which it may be a party or in which it may be involved by reason of any action
taken or failure to act under this Plan and against and from any and all amounts
paid by it in satisfaction of a judgment in any such action, suit or proceeding,
except a judgment in favour of the Company based upon a finding of its bad
faith; subject, however, to the condition that, upon the assertion of or
institution of any such claim, action, suit or proceeding against it, it shall
in writing give the Company an opportunity, at its own expense, to handle and
defend the same before it undertakes to handle and defend it on its own behalf.

       The Trustee shall be entitled to rely on all certificates, reports,
opinions and other documents furnished by any broker, accountant or auditor or
counsel to the Company and shall be fully protected and indemnified by the
Company in respect of any acts done in good faith and in reliance on such
certificates, reports, opinions or documents.

2.13.  PARTICIPANT'S RIGHT NOT TRANSFERABLE

       Except as provided herein:

(a)    No right of interest of any Participant in any of the Shares (including
       Additional Shares) purchased on the Participant's behalf under this Plan
       shall be assignable or transferable, in whole or in part, either directly
       or by operation of law or otherwise in any manner but excluding
       devolution by death or mental incompetency; and

(b)    No attempted assignment or transfer thereof shall be effective.

       Notwithstanding the foregoing, assignments or transfers may be effected
with the approval of the Company and the appropriate regulatory authorities, if
required.

<PAGE>
                                      -9-

2.14.  INTERPRETATION AND REGULATIONS

(a)    The Company may make, amend and repeal at any time and from time to time
       such regulations not inconsistent herewith, as it may deem necessary or
       advisable for the issuance of Shares under this Plan, the carrying out of
       any sales made pursuant to this Plan and generally for the proper
       administration and operation of this Plan. In particular, the Company may
       delegate to any person, group of persons or corporation, such
       administrative duties and powers as it may see fit.

(b)    The Company may amend or discontinue this Plan at any time, provided that
       no amendment shall be made to this Plan except with the prior receipt of
       the approval of The Toronto Stock Exchange. No such amendment will,
       without the consent of a Participant, alter or impair the Participant's
       rights under this Plan.

(c)    Notwithstanding the foregoing sections 2.14(a) and (b), the Company shall
       have the power to interpret the provisions of this Plan and to make
       regulations and formulate administrative provisions for carrying them out
       and to make such changes in this Plan and in the regulations and
       administrative provisions as, from time to time, the Company deems proper
       and in its best interests, and the Trustee shall observe same, provided
       that no such changes shall alter or impair a Participant's rights in
       respect of a loan already made or Shares already purchased in accordance
       with this Plan except with the consent of the Participant. All decisions
       and interpretations of the Company respecting this Plan and all rules and
       regulations made from time to time pursuant hereto, shall be binding and
       conclusive on the Company and on all Participants in this Plan and their
       respective legal representative and on all Participants eligible under
       this Plan to participate herein.

2.15.  COSTS

       The Company shall pay all costs of administering this Plan.<PAGE>
                                                                    EXHIBIT 10.3

                              THE HUB GROUP LIMITED

                          EMPLOYEE SHARE PURCHASE PLAN

                                  JANUARY, 1999

<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<S>                                                                                                            <C>
                                   ARTICLE 1.
                          INTERPRETATION, PURPOSE, ETC.

1.1.     Definitions............................................................................................  1
1.2.     Introduction and Purpose...............................................................................  2
1.3.     Reserved Shares........................................................................................  2
1.4.     Governing Law..........................................................................................  2

                                   ARTICLE 2.
                               SHARE PURCHASE PLAN

2.1.     Participation..........................................................................................  3
         2.1.1.       Eligibility...............................................................................  3
         2.1.2.       Enrolment.................................................................................  3
         2.1.3.       Registered Retirement Savings Plan........................................................  3
2.2.     Employee Contributions.................................................................................  3
         2.2.1.       Employee Contributions....................................................................  3
         2.2.2.       Changes, Termination and Re-Enrolment.....................................................  4
2.3.     Administration.........................................................................................  4
         2.3.1.       The Plan Managers.........................................................................  4
         2.3.2.       The Administrator.........................................................................  4
         2.3.3.       Costs and Expenses........................................................................  4
2.4.     Investment.............................................................................................  5
         2.4.1.       Remittance and Holding of Employee Contributions..........................................  5
         2.4.2.       Purchase of Shares using Employee Contributions...........................................  5
         2.4.3.       Reinvestment of Dividends.................................................................  5
         2.4.4.       Reporting of Account Activities...........................................................  5
         2.4.5.       Purchases on the Open Market..............................................................  5
2.5.     Distribution of Shares.................................................................................  6
         2.5.1.       Ownership and Voting of Purchased Shares..................................................  6
         2.5.2.       Delivery of Certificates..................................................................  6
2.6.     Withdrawal From the Plan...............................................................................  6
         2.6.1.       Voluntary Withdrawal from the Plan........................................................  6
         2.6.2.       Withdrawal Upon Termination, Death or Disability..........................................  7

                                   ARTICLE 3.
                                     GENERAL

3.1.     Amendment or Termination...............................................................................  7
3.2.     Capital Adjustments....................................................................................  8
3.3.     Compliance with Legislation............................................................................  8
3.4.     Fractional Shares......................................................................................  8
</TABLE>

<PAGE>
                                      -ii-

<TABLE>
<S>                                                                                                            <C>
3.5.     Market Fluctuation...................................................................................  8
3.6.     Income Taxes.........................................................................................  9
3.7.     Assignment of Interest...............................................................................  9
3.8.     Trading on Undisclosed Information...................................................................  9
</TABLE>

<PAGE>

                                   ARTICLE 1.
                          INTERPRETATION, PURPOSE, ETC.

1.1.   DEFINITIONS

       In this Plan, the following words and phrases have, unless otherwise
indicated, the following meanings:

       (a)    "ACCRUED EMPLOYEE CONTRIBUTIONS" on a Share Purchase Date means
              the aggregate of Employee Contributions remitted to the
              Administrator from but excluding the previous Share Purchase Date
              to and including that Share Purchase Date.

       (b)    "ADMINISTRATOR" has the meaning given to that term in section
              2.3.2.

       (c)    "BROKER" means a registered broker or dealer selected by the
              Administrator in its sole discretion.

       (d)    "CONSULTANT" means (i) an individual (including an individual
              whose services are contracted for through a corporation) or (ii) a
              corporation, in either case, designated by the Plan Managers and
              with whom the Employer has a contract for substantial ongoing
              services.

       (e)    "ELIGIBLE EMPLOYEE" has the meaning given to that term in section
              2.1.1.

       (f)    "EMPLOYEE CONTRIBUTION" has the meaning given to that term in
              section 2.2.1.

       (g)    "EMPLOYEE REMITTANCE" has the meaning given to that term in
              section 2.2.1.

       (h)    "EMPLOYER" means The Hub Group Limited.

       (i)    "ENROLMENT DATE" has the meaning given to that term in section
              2.1.

       (j)    "PARTICIPANT" means an Eligible Employee who has elected to
              participate in the Plan.

       (k)    "PLAN" means the Employer's employee share purchase plan, as
              amended from time to time.

       (l)    "PLAN MANAGERS" has the meaning given to that term in section
              2.3.1.

       (m)    "PURCHASE PRICE" on a certain date means (i) with respect to
              purchases on a Share Purchase Date from treasury, an amount equal
              to the weighted average trading prices of the Shares on The
              Toronto Stock Exchange for the five (5) trading days prior to that
              date, (ii) with respect to purchases on a Share Purchase Date on
              the open market, an amount equal to the weighted average price of
              the open market purchases of the Shares with respect to that date,
              as effected in accordance with section 2.4.5 and (iii) with
              respect to purchases using cash dividends on a

<PAGE>
                                      -2-

              Reinvestment Date in accordance with section 2.4.3, an amount
              equal to the weighted average price of the open market purchases
              of the Shares with respect to that date, as effected in accordance
              with section 2.4.5; provided that, (i) in the event that the
              Shares are not listed on The Toronto Stock Exchange but are listed
              on some other exchange, references to The Toronto Stock Exchange
              shall be deemed to be references to such other exchange as
              designated by the board of directors of Employer, and (ii) if the
              Shares are not listed on any exchange, the board of directors of
              Employer shall determine the Purchase Price, acting reasonably.

       (n)    "PURCHASED SHARES" means Shares that have been actually purchased
              in the name of the Participant pursuant to sections 2.4.2 and
              2.4.3.

       (o)    "REINVESTMENT DATE" has the meaning given to that term in section
              2.4.3.

       (p)    "RRSP" has the meaning given to that term in section 2.1.3.

       (q)    "SHARE PURCHASE DATE" has the meaning given to that term in
              section 2.4.2.

       (r)    "SHARES" means the common shares of the Employer.

       (s)    "SUBSIDIARY" has the meaning given to that term in the Securities
              Act (Ontario), as amended from time to time.

1.2.   INTRODUCTION AND PURPOSE

       The purpose of the Plan is to make available to Eligible Employees of the
Employer and its Subsidiaries a means of purchasing the Employer's Shares, to
more closely align their interests with the performance of the Employer and to
encourage Eligible Employees to remain with the Employer and its Subsidiaries on
a long-term basis.

       Participation in the Plan by any Eligible Employee is voluntary and the
Employer is not making any recommendation to its employees as to whether they
should or should not participate.

1.3.   RESERVED SHARES

       The maximum number of Shares that are reserved for issuance from treasury
under the Plan is 1,000,000 Shares.

1.4.   GOVERNING LAW

       This Plan is to be governed by and interpreted in accordance with the
laws of the Province of Ontario and the laws of Canada applicable therein.

<PAGE>
                                      -3-

                                   ARTICLE 2.
                               SHARE PURCHASE PLAN

2.1.     PARTICIPATION

         2.1.1.   ELIGIBILITY

         All full-time employees or Consultants who have completed three months
         continuous service with the Employer or any Subsidiary are eligible to
         participate in the Plan (an "ELIGIBLE EMPLOYEE").

         2.1.2.   ENROLMENT

         Eligible Employees may elect to enrol as Participants in the Plan as of
         the first day of any month in which they are eligible (an "ENROLMENT
         DATE") by signing and delivering to the Employer, at least 30 days
         prior to any Enrolment Date, appropriate forms provided by the
         Employer.

         2.1.3.   REGISTERED RETIREMENT SAVINGS PLAN

         An Eligible Employee may elect on the enrolment form to have Shares
         purchased pursuant to this Plan be registered as part of a registered
         retirement savings plan ("RRSP") of which the Eligible Employee is the
         sole annuitant. If this election is made, all references in this Plan
         to a Participant will be deemed to include that registered retirement
         savings plan.

         By giving the Employer a written request and subject to the Participant
         completing any required forms and fulfilling any other requirements, a
         Participant may request (i) that all or a portion of Purchased Shares
         previously acquired pursuant to this Plan and held outside of an RRSP
         be registered as part of an RRSP or (ii) that all or a portion of
         Purchased Shares previously acquired pursuant to this Plan and held in
         an RRSP be removed from that RRSP.

2.2.     EMPLOYEE CONTRIBUTIONS

         2.2.1.   EMPLOYEE CONTRIBUTIONS

         Participants may contribute for investment under the Plan, an amount
         which is not more than ten (10%) per cent (or such greater amount as
         approved by the Plan Managers) of their regular gross salary, excluding
         bonuses, deferred compensation or any special incentive compensation
         payments (an "EMPLOYEE CONTRIBUTION"). For each Eligible Employee who
         is compensated on an alternative basis (e.g., commissions), the Plan
         Managers will determine an amount which will be deemed to constitute
         that Eligible Employee's "regular gross salary".

         A Participant may elect to make the Employee Contribution by way of
         payment from that Participant, through payroll deductions or in such
         other manner as is acceptable to the Plan Managers (an "EMPLOYEE
         REMITTANCE"). If a Participant's regular salary changes,

<PAGE>
                                      -4-

         any payroll deduction previously requested will not be changed unless
         and until the Participant requests a change.

         2.2.2.   CHANGES, TERMINATION AND RE-ENROLMENT

         By giving the Employer a written request at least 30 days in advance of
         any Enrolment Date, a Participant may change the designated amount of
         Employee Remittance as of that Enrolment Date. Employee Remittances may
         be terminated at any time, effective as soon as practicable after the
         participant's written request is received by the Employer. After
         termination, an Eligible Employee may elect to re-enrol in the Plan.
         However, a new Employee Remittance authorization on re-enrolment in the
         Plan shall not become effective prior to the Enrolment Date next
         following the six-month period beginning with the effective date of the
         termination. In the event a Participant changes the designated amount
         of Employee Remittance or re-enrols after termination, no additional
         change shall be made within the three month period following the
         effective date of such change or within a three month period following
         the effective date of any re-enrolment in the plan.

2.3.     ADMINISTRATION

         2.3.1.   THE PLAN MANAGERS

         The Plan is managed by the board of directors of Employer or a
         committee of the board or an officer of the Employer duly appointed for
         this purpose by the board (the "PLAN MANAGERS"). The Plan Managers are
         empowered to make and enforce rules with respect to the administration
         of the Plan, to interpret the Plan, to resolve any ambiguities and to
         decide questions of eligibility to participate. The Plan Managers may
         appoint an individual and delegate to that person certain duties and
         powers of the Plan Managers. This individual does not have any fixed
         term and may be removed at any time by the Plan Managers. The
         individual may participate in the Plan, if otherwise eligible.

         2.3.2.   THE ADMINISTRATOR

         The Employer has designated a trust company (the "ADMINISTRATOR") to
         administer the Plan in accordance with its terms. The Administrator
         will open and maintain separate accounts in the names of each of the
         Participants and arrange purchases of the Shares. The Administrator
         will hold all Purchased Shares acquired in respect of a Participant as
         trustee on behalf and for the benefit of that Participant. The Employer
         may, in its discretion, substitute another entity as Administrator
         under the Plan and the Administrator may terminate its services,
         provided such substitution or termination, as the case may be, shall be
         on 60 days notice given by the party effecting the action. The current
         Administrator is The Royal Trust Corporation of Canada.

         2.3.3.   COSTS AND EXPENSES

         The Employer pays all administration expenses in connection with the
         operation of the Plan, including, without limitation, all commissions
         for purchases of the Shares. Commissions and other charges in
         connection with sales, withdrawals and share certificate issuing fees,
         including all taxes payable on the issuance or disposition of Shares,
         are payable by the Participants who order the transactions for their
         account.

<PAGE>
                                      -5-

2.4.     INVESTMENT

         2.4.1.   REMITTANCE AND HOLDING OF EMPLOYEE CONTRIBUTIONS

         Employee Contributions will be held by the Employer and remitted by the
         Employer to the Administrator immediately prior to each Share Purchase
         Date. All Employee Contributions held by the Employer prior to a Share
         Purchase Date will be held with a Canadian chartered bank and any
         interest earned thereon will be used by the Employer to offset costs
         associated with maintaining the Plan.

         2.4.2.   PURCHASE OF SHARES USING EMPLOYEE CONTRIBUTIONS

         All Employee Contributions are to be invested in Shares. On the first
         trading day of each month or as soon thereafter as is practicable (a
         "SHARE PURCHASE DATE"), the Administrator will purchase on behalf of
         the Participant as many Shares at the Purchase Price as can be
         purchased using that Participant's Accrued Employee Contributions.
         Shares will be purchased at the Purchase Price from treasury or, at the
         Employer's option, on the open market in accordance with section 2.4.5.

         2.4.3.   REINVESTMENT OF DIVIDENDS

         All cash dividends received on Purchased Shares shall be reinvested in
         Shares on the Share Purchase Date following the dividend payment date
         (the "REINVESTMENT DATE").

         The Administrator will apply all cash dividends received by the
         Administrator on Purchased Shares of a Participant to purchase on
         behalf of the Participant on the open market in accordance with section
         2.4.5 as many Shares at the Purchase Price as can be purchased using
         the cash dividends received. All other distributions to holders of
         Shares including, without limitation, all other securities, property or
         rights, will be distributed to a Participant in such a manner as the
         Plan Managers, in their sole discretion, deem appropriate.

         2.4.4.   REPORTING OF ACCOUNT ACTIVITIES

         Each Participant receives quarterly confirmation from the Administrator
         reflecting all changes in the amount of Purchased Shares owned by the
         Participant.

         2.4.5.   PURCHASES ON THE OPEN MARKET

         If the Administrator receives notice from the Employer 14 days prior to
         a Share Purchase Date, some or all of the purchases using Employee
         Contributions may be made on the open market. All purchases using cash
         dividends as described in section 2.4.3 shall be made on the open
         market. The Administrator will arrange for purchases in respect of the
         Share Purchase Date and/or Reinvestment Date using Brokers at dates and
         times selected in the Administrator's sole discretion provided that (i)
         purchases using all Accrued Employee Contributions available for a
         given Share Purchase Date and/or purchases using all cash dividends
         will be completed as soon as practicable after the Share Purchase Date
         and/or Reinvestment Date, and (ii) purchases will be effected through
         the facilities

<PAGE>
                                      -6-

         of The Toronto Stock Exchange or such other Canadian market upon which
         the Shares are listed and posted for trading from time to time.

2.5.     DISTRIBUTION OF SHARES

         2.5.1.   OWNERSHIP AND VOTING OF PURCHASED SHARES

         Participants acquire full beneficial ownership of all Purchased Shares
         as of the date of the purchase. Notwithstanding any other provision of
         this agreement, no fractional Share certificates will be issued.

         Whole Shares allocated to a Participant's account will be voted by the
         Administrator in accordance with the directions, if any, of the
         Participant and if no direction has been received will not be voted.

         2.5.2.   DELIVERY OF CERTIFICATES

         All Purchased Shares are registered in the name of the Administrator
         and held in trust by the Administrator on behalf and for the benefit of
         the Participants. By giving the Employer thirty (30) days advance
         written notice, a Participant may request that the Administrator
         deliver to that Participant a certificate registered in the name of the
         Participant in respect of any or all of the Purchased Shares.

2.6.     WITHDRAWAL FROM THE PLAN

         2.6.1.   VOLUNTARY WITHDRAWAL FROM THE PLAN

         Participants may withdraw from the Plan at any time by cancelling their
         Employee Remittance authorizations. The Participant may either request
         that:

         (a)      in the case of Purchased Shares not held in an RRSP, (i) the
                  full Purchased Shares in the account be transferred to another
                  account maintained by that Participant, (ii) a certificate
                  representing the full Purchased Shares in the account be
                  delivered to the Participant or (iii) all full Purchased
                  Shares and any fractional interest in Shares in the
                  Participant's account be sold and the net proceeds be remitted
                  to the Participant; and

         (b)      in the case of Purchased Shares held in an RRSP, (i) the full
                  Purchased Shares in the account be transferred to another RRSP
                  account maintained for that Participant, (ii) all full
                  Purchased Shares and any fractional interest in Shares in the
                  Participant's account be sold and the net proceeds remitted to
                  another RRSP account maintained for that Participant or (iii)
                  all full Purchased Shares and any fractional interest in
                  Shares in the Participant's account be sold and the net
                  proceeds (less any deductions in respect of taxes) be remitted
                  to the Participant.

         The Participant may not thereafter re-enrol in the Plan prior to the
         Enrolment Date next following a period of six months commencing with
         the date of such cancellation.

<PAGE>
                                      -7-

         2.6.2.   WITHDRAWAL UPON TERMINATION, DEATH OR DISABILITY

         Upon the death, disability or termination of employment of a
         Participant, that Participant will be deemed to have withdrawn from the
         Plan as of the date of death, disability or termination. The
         Participant (or the Participant's authorized representatives) may
         either request that

         (a)      in the case of Purchased Shares not held in an RRSP, (i) the
                  full Purchased Shares in the account be transferred to another
                  account maintained by that Participant or for the benefit of
                  the Participant's estate, (ii) a certificate representing the
                  whole Purchased Shares in the account be delivered to the
                  Participant or the Participant's authorized representatives or
                  (iii) all whole Purchased Shares and any fractional interest
                  in Shares in the Participant's account be sold and the net
                  proceeds be remitted to the Participant or the Participant's
                  authorized representatives; and

         (b)      in the case of Purchased Shares held in an RRSP, (i) the full
                  Purchased Shares in the account be transferred to another RRSP
                  account maintained for that Participant, (ii) whole full
                  Purchased Shares and any fractional interest in Shares in the
                  Participant's account be sold and the net proceeds remitted to
                  another RRSP account maintained for that Participant or (iii)
                  whole full Purchased Shares and any fractional interest in
                  Shares in the Participant's account be sold and the net
                  proceeds (less any deductions in respect of taxes) be remitted
                  to the Participant or the Participant's authorized
                  representatives.

         If the Participant (or the Participant's authorized representative) do
not make an election within thirty (30) days after the date the Participant is
deemed to have withdrawn from the Plan, then

         (a)      in the case of Purchased Shares not held in an RRSP, a
                  certificate representing the whole Purchased Shares in the
                  account will be delivered to the Participant or the
                  Participant's authorized representatives; and

         (b)      in the case of Purchased Shares held in an RRSP, all whole
                  Purchased Shares and any fractional interest in Shares in the
                  Participant's account will be sold and the net proceeds (less
                  any deductions in respect of taxes) will be remitted to the
                  Participant or the Participant's authorized representatives.

                                   ARTICLE 3.
                                     GENERAL

3.1.     AMENDMENT OR TERMINATION

         Subject to receiving all necessary regulatory approvals, the Employer
reserves the right to discontinue use of any form of Employee Remittance at any
time such action is deemed advisable, in its judgment, and the Employer also
reserves the right to amend or discontinue the Plan at any time. Any such
amendment or termination will not result in the forfeiture by any Participant of
any Purchased Shares, dividends or other distributions in respect of Purchased

<PAGE>
                                      -8-

Shares, effective before the effective date of amendment or termination of the
Plan. Any amendment to this Plan is subject to the prior receipt of the approval
of The Toronto Stock Exchange.

3.2.     CAPITAL ADJUSTMENTS

         If there is any change in the outstanding Shares by reason of a stock
split, recapitalization, consolidation, combination or exchange of shares, or
other fundamental corporate change, the Plan Managers will make, subject to any
prior approval required of relevant stock exchanges or other applicable
regulatory authorities, if any, appropriate substitutions or adjustments;
provided, however, that no substitution or adjustment will obligate the Employer
to issue or sell fractional shares. In the event of the reorganization of the
Employer or the amalgamation or consolidation of the Employer with another
corporation, the Plan Managers may make such provision for the protection of the
rights of Participants as the Plan Managers in their discretion deem
appropriate. The determination of the Plan Managers, as to any adjustment or as
to there being no need for adjustment, will be final and binding on all parties.

3.3.     COMPLIANCE WITH LEGISLATION

         The Plan Managers may postpone or adjust the issue of any Shares
pursuant to this Plan as the Plan Managers in their discretion may deem
necessary in order to permit the Employer to effect or maintain registration of
this Plan or the Shares issuable pursuant thereto under the securities laws of
any applicable jurisdiction, or to determine that the Shares and this Plan are
exempt from such registration. The Employer is not obligated by any provision of
this Plan to sell or issue Shares in violation of any applicable law. In
addition, while the Shares are listed on a stock exchange, the Employer will
have no obligation to issue any Shares pursuant to this Plan unless the Shares
have been duly listed, upon official notice of issuance, on a stock exchange on
which the Shares are listed for trading.

3.4.     FRACTIONAL SHARES

         No fractional Shares may be issued under the Plan and nothing in this
Plan will obligate the Employer to issue or sell fractional shares. The Plan
Managers may determine the manner in which fractional Share value will be
treated.

3.5.     MARKET FLUCTUATION

         THERE IS NO GUARANTEE UNDER THE PLAN AGAINST LOSS BECAUSE OF MARKET
FLUCTUATION. IN SEEKING THE BENEFITS OF PARTICIPATION IN THE PLAN, A PARTICIPANT
MUST ACCEPT THE RISK OF A DECLINE IN THE MARKET PRICE OF THE SHARE.

<PAGE>
                                      -9-

3.6.     INCOME TAXES

         The sale and disposition of Shares generally results in the recognition
of a taxable gain or loss under Canadian tax law by the Participant. In the
event dividends are paid, the Participant will be subject to the payment of
income tax on the dividends.

         Canadian tax laws are complex and subject to change and the Participant
         is responsible for determining how such tax laws and changes may affect
         their tax position. The Participant should contact their own financial
         or personal advisor to determine what effect, if any, participation in
         the Plan may have on the Participant's tax and other responsibilities.

3.7.     ASSIGNMENT OF INTEREST

         Until certificates for Purchased Shares are delivered to the
Participant, no right of a Participant under the Plan and no interest in
Purchased Shares is capable, either in whole or in part, of being sold,
assigned, pledged or hypothecated, whether by way of security or otherwise.

3.8.     TRADING ON UNDISCLOSED INFORMATION

         Participants in the Plan are reminded that trading based on insider or
undisclosed information is an illegal activity and that people conducting
securities transactions based on such insider or undisclosed information are
subject to prosecution.

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