Document:

Second Amendment to Credit Agreement

 
EXHIBIT 4.14

 
SECOND AMENDMENT 
 
THIS SECOND AMENDMENT (this “Amendment”)
dated as of February 22, 2002, to the Credit Agreement referenced below, is by and among CNF Inc., a Delaware corporation (the “Borrower”), the Banks identified on the signature pages hereto and Bank of America, N.A., as Agent.
Capitalized terms used herein but not otherwise defined herein shall have the meanings provided to such terms in the Credit Agreement. 
 
W I T N E S S E T H 
 
WHEREAS, a $350 million credit facility has been extended to the Borrower pursuant to the terms of that Credit Agreement (as amended,
modified and supplemented from time to time, the “Credit Agreement”) dated as of July 3, 2001 among the Borrower, the Banks party thereto, The Chase Manhattan Bank, as Syndication Agent, PNC Bank, ABN-AMRO Bank, N.V. and Citibank,
N.A., as Documentation Agents, and Bank of America, N.A., as Agent; 
 
WHEREAS, pursuant to that Subsidiary Guaranty Agreement (as amended, modified and supplemented from time to time, the “Subsidiary Guaranty Agreement”) dated as of July 3, 2001 among the Borrower, the
Subsidiaries of the Borrower identified therein (the “Subsidiary Guarantors”) and the Agent, the Subsidiary Guarantors guarantied the obligations of the Borrower under the Financing Documents; 
 
WHEREAS, the Borrower proposes to increase the aggregate
amount of Commitments to $385,000,000 by the addition of a new Lender with a Commitment of $35,000,000 (the “New Commitment”); 
 
WHEREAS, Section 2.01(b) of the Credit Agreement permitted the Borrower to increase the aggregate amount of Commitments by $50,000,000
within 90 days of the Closing Date; 
 
WHEREAS, the
Borrower has requested that the Required Banks agree to extend the 90 day period set forth in Section 2.01(b) to 270 days in order to allow the Borrower to obtain the New Commitment; and 
 
WHEREAS, the Required Banks have agreed to the modifications requested by the Borrower on the terms and
conditions set forth herein. 
 
NOW, THEREFORE, IN
CONSIDERATION of the premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 
1. Amendment. In Section 2.01(b), the reference to “90 days” is amended to read “270
days”. 
 
2. Conditions Precedent.
This Amendment shall be effective as of the date hereof upon receipt by the Agent of multiple counterparts of this Amendment executed by the Borrower and the Required Banks. 
 
3. Authority/Enforceability. The Borrower represents and warrants as follows: 
 
(a) The Borrower and each Subsidiary
Guarantor has taken all necessary action to authorize the execution, delivery and performance of this Amendment. 

 
(b) This Amendment has been duly executed and delivered by the Borrower and each Subsidiary Guarantor and the Credit Agreement, as amended by this Amendment, constitutes the legal, valid and binding obligation of the Borrower,
enforceable in accordance with its terms, except as such enforceability may be subject to (i) bankruptcy, insolvency, reorganization, fraudulent conveyance or transfer, moratorium or similar laws affecting creditors’ rights generally and (ii)
general principles of equity (regardless of whether such enforceability is considered in a proceeding at law or in equity). 
 
(c) No consent, approval, authorization or order of, or filing, registration or qualification with, any court or
Governmental Authority or third party is required in connection with the execution, delivery or performance by the Borrower or any Subsidiary Guarantor of this Amendment. 
 
4. Reaffirmation of Representations and Warranties. The Borrower hereby affirms that the
representations and warranties set forth in the Credit Agreement are true and correct in all material respects as of the date hereof after giving effect to this Amendment (except those that expressly relate to an earlier date in which case such
representations and warranties were true and correct as of such earlier date). 
 
5. Instrument Pursuant to Credit Agreement. This Amendment is a Financing Document executed pursuant to the Credit Agreement and shall (unless otherwise expressly indicated therein) be
construed, administered and applied in accordance with the terms and provisions of the Credit Agreement. 
 
6. No Other Changes. Except as expressly modified hereby, all of the terms and provisions of the Credit Agreement and the other
Financing Documents (including schedules and exhibits thereto) shall remain in full force and effect. 
 
7. Counterparts/Telecopy. This Amendment may be executed in any number of separate counterparts, each of which, when so executed,
shall be deemed an original and it shall not be necessary in making proof of this Amendment to produce or account for more than one such counterpart. Delivery of executed counterparts of this Amendment by telecopy shall be effective as an original
and shall constitute a representation that an original shall be delivered. 
 
8. No Waiver. The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the Banks or the Agent under the Financing Documents or
constitute a waiver of any provision of the Credit Agreement or any of the other Financing Documents. 
 
9. Governing Law. This Amendment shall be deemed to be a contract made under, and for all purposes shall be construed in accordance
with, the laws of the State of New York. 
 
[Remainder of Page Intentionally Left Blank] 
 

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IN WITNESS
WHEREOF, each of the parties hereto has caused a counterpart of this Amendment to be duly executed and delivered as of the date first above written. 
 

	 BORROWER:
	 	 	 	 CNF INC., a Delaware corporation

	
	 	 	 	 	 	 	 By:
	 	         /s/    MARK C. THICKPENNY        

	 	 	 	 	 	 	 Name:
	 	 Mark C. Thickpenny

	 	 	 	 	 	 	 Title:
	 	 Vice President – Treasurer

 

	 ADMINISTRATIVE AGENT
	 	 	 	 BANK OF AMERICA, N.A., corporation
 in its capacity as Agent

	
	 	 	 	 	 	 	 By:
	 	 /s/    CHAS A.
MCDONELL        

	 	 	 	 	 	 	 Name:
	 	 Chas A. McDonell

	 	 	 	 	 	 	 Title:
	 	 Managing Director

 

	 BANKS
	 	 	 	 BANK OF AMERICA, N.A.,

	
	 	 	 	 	 	 	 By:
	 	

	 	 	 	 	 	 	 Name:
	 	 
	 	 	 	 	 	 	 Title:
	 	 

 

	 	 	 	 	 PNC BANK

	
	 	 	 	 	 	 	 By:
	 	

	 	 	 	 	 	 	 Name:
	 	 
	 	 	 	 	 	 	 Title:
	 	 

 

	 	 	 	 	 U.S. BANK NATIONAL ASSOCIATION

	
	 	 	 	 	 	 	 By:
	 	

	 	 	 	 	 	 	 Name:
	 	 
	 	 	 	 	 	 	 Title:
	 	 

 

	 	 	 	 	 MELLON BANK, N.A.

	
	 	 	 	 	 	 	 By:
	 	

	 	 	 	 	 	 	 Name:
	 	 
	 	 	 	 	 	 	 Title:
	 	 

 

	 	 	 	 	 ABN AMRO BANK N.V.

	
	 	 	 	 	 	 	 By:
	 	 /s/    MARY L.
HONDA        

	 	 	 	 	 	 	 Name:
	 	 Mary L. Honda

	 	 	 	 	 	 	 Title:
	 	 Group Vice President

 
[Signature Pages Continue] 

 

	 THE CHASE MANHATTAN BANK

	
	 By:
	 	 /s/    KAREN MAY
SHARF        

	 Name:
	 	 Karen May Sharf

	 Title:
	 	 Vice President

 

	 THE BANK OF NEW YORK

	
	 By:
	 	 /s/    ELIZABETH T.
YING        

	 Name:
	 	 Elizabeth T. Ying

	 Title:
	 	 Vice President

 

	 PB CAPITAL CORPORATION

	
	 By:
	 	

	 Name:
	 	 
	 Title:
	 	 

 

	
	 By:
	 	

	 Name:
	 	 
	 Title:
	 	 

 

	 CITICORP USA, INC.

	
	 By:
	 	 /s/    WALT
LARSEN        

	 Name:
	 	 Walt Larsen

	 Title:
	 	 Managing Director

 
[Signature Pages Continue] 

 
Each of the
undersigned Subsidiary Guarantors, by executing this Amendment below, (a) acknowledges and consents to all of the terms and conditions of this Amendment, (b) affirms all of its obligations under the Financing Documents and (c) agrees that this
Amendment and all documents executed in connection herewith do not operate to reduce or discharge such Subsidiary Guarantor’s obligations under the Financing Documents. 
 

	 SUBSIDIARY GUARANTORS:
	 	 	 	 CON-WAY TRANSPORTATION SERVICES, INC.

	
	 	 	 	 	 	 	 By:
	 	 /S/    MARK C.
THICKPENNY         

	 	 	 	 	 	 	 Name:
	 	 Mark C. Thickpenny

	 	 	 	 	 	 	 Title:
	 	 Assistant Treasurer

 

	 	 	 	 	 EMERY AIR FREIGHT CORPORATION

	
	 	 	 	 	 	 	 By:
	 	 /s/    MARK C.
THICKPENNY        

	 	 	 	 	 	 	 Name:
	 	 Mark C. Thickpenny

	 	 	 	 	 	 	 Title:
	 	 Assistant Treasurer

 

	 	 	 	 	 EMERY WORLDWIDE AIRLINES, INC.

	
	 	 	 	 	 	 	 By:
	 	 /s/    MARK C.
THICKPENNY        

	 	 	 	 	 	 	 Name:
	 	 Mark C. Thickpenny

	 	 	 	 	 	 	 Title:
	 	 Assistant Treasurer

 

	 	 	 	 	 MENLO LOGISTICS, INC.

	
	 	 	 	 	 	 	 By:
	 	 /s/    MARK C.
THICKPENNY        

	 	 	 	 	 	 	 Name:
	 	 Mark C. Thickpenny

	 	 	 	 	 	 	 Title:
	 	 Assistant Treasurer

 

	 	 	 	 	 CNF PROPERTIES, INC.

	
	 	 	 	 	 	 	 By:
	 	 /s/    MARK C.
THICKPENNY        

	 	 	 	 	 	 	 Name:
	 	 Mark C. Thickpenny

	 	 	 	 	 	 	 Title:
	 	 Vice President – TreasurerAmendment No. 1 dated June 28, 1999

 
Exhibit 10.30

 
AMENDMENT NO. 1 
TO 
CNF TRANSPORTATION INC. 
DEFERRED COMPENSATION PLAN 
1998 RESTATEMENT 
 
CNF Transportation Inc. (the “Company”) maintains the Deferred Compensation Plan for Executives (the “Plan”) to allow
executives of the Company and its affiliates to defer payment of short-term and long-term compensation. The Company has adopted a new Value Management Plan that provides for certain long-term incentive compensation awards to be made to specified
executives of the Company and its affiliates, and wishes to amend the Deferred Compensation Plan for Executives to permit the deferral of such awards. 
 
The Company adopted this Plan effective October 1, 1993 as a successor to the Prior Plan, which operated for the nine month period ending
September 30, 1993. The Plan was restated with a general effective date of January 1, 1996. The Company’s name changed in connection with a corporate reorganization involving the distribution on December 2, 1996 of CFC stock to the
Company’s shareholders. In order to reflect the new Company name and to make various administrative and clarifying changes, the Company adopted the 1998 Restatement of the Plan effective January 1, 1998. 
 
The Company hereby amends the 1998 Restatement of the Plan as
follows (capitalized terms used herein without definition have the meanings given to those terms in the 1998 Restatement), and the Plan as amended hereby shall be restated in a new 1999 Restatement. 
 
1.    Change in Definition of
“Account Balance.”    The definition of the term “Account Balance” set forth in Section 1.1 of the Plan is amended by deleting the first sentence thereof in its entirety and substituting therefor the
following: 
 
“Account Balance” means the
sum of (i) the total of a Participant’s Annual Deferral Amounts, plus (ii) the total of a Participant’s deferred ROE Awards and deferred Value Management Awards, in each case credited as of the date immediately following the end of the
applicable award cycle, plus (iii) the return credited in accordance with the Plan, reduced by (iv) all distributions made pursuant to the terms and conditions of this Plan.” 
 
2.    Change in Definition of “Annual Bonus.”    The
definition of the term “Annual Bonus” set forth in Section 1.2 of the Plan is amended in its entirety so as to read as follows: 
 

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“Annual
Bonus” means any bonus or incentive compensation, other than an ROE Award or a Value Management Award, earned by a Participant in each Plan Year under all cash bonus and incentive plans of the Company, and any subsidiary, whether or not paid in
such Plan Year.” 
 
3.    Change in Definition of “Change in Control.”    The definition of the term “Change in Control” set forth in Section 1.9 of the Plan is amended in its entirety
so as to read as follows: 
 
“Change in
Control” means a change in control of the Company, which will be deemed to have occurred if: 
 

	 	(a)	 	any “person,” as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended from time to time (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 June 28, 1999, 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
June 28, 1999 or whose appointment, election or nomination for election was previously so approved or recommended; 

 

	 	(c)	 	there is consummated a merger or consolidation of the 

 
 

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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 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); or 
 

	 	(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. 

 
4.    New Definition of “Value Management Award.”    Article 1 of the Plan is
amended by adding the following new definition of “Value Management Award”: 
 
“Value Management Award” means the Participant’s Award for an award cycle under the CNF Transportation Inc. Value Management Plan, as amended from time to time.” 
 
5.    Amendment to Section
3.1.    Section 3.1 of the Plan is amended in its entirety so as to read as follows: 
 

	 	“3.1	 	Minimum Deferral. 

 

	 	(a)	 	Minimum.    A Participant may not elect to defer less than 

 
 

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$2,000 of
Base Annual Salary for any Plan Year, less than $2,000 of Annual Bonus for any Plan Year, less than $2,000 of any ROE Award for an award cycle, nor less than $2,000 of any Value Management Award for any award cycle. 
 

	 	(b)	 	Short Participation Year.    If a Participant’s Plan Entry Date is July 1 of any Plan Year, he must defer a minimum of $1,000 of Base
Annual Salary, a minimum of $1,000 of Annual Bonus, a minimum of $1,000 of any ROE Award, or a minimum of $1,000 of any Value Management Award for such Plan Year.” 

 
6.    Amendment to Section 3.2.    Section 3.2 is amended by
adding a new subsection (c) to read as follows: 
 

	 	“(c)	 	Value Management Awards.    For each award cycle under the CNF Transportation Inc. Value Management Plan (as amended from time to time), a
Participant who also participates in that plan may defer up to 100 percent of the Participant’s Value Management Award for that award cycle stated as a dollar or percentage amount.” 

 
7.    Amendment to Section
3.3.    Section 3.3 is amended by deleting the last sentence thereof and substituting therefor the following: 
 
“If the Election Form is not delivered prior to the Plan Entry Date for a Plan Year, no Annual Deferral Amount shall be deferred for
that Plan Year and no ROE Award or Value Management Award shall be deferred for the award cycle beginning with that Plan Year.” 
 
8.    Amendment to Section 3.4.    Section 3.4 is amended by deleting the last sentence
thereof and substituting therefor the following: 
 
“The deferred portion of an ROE Award, and the deferred portion of a Value Management Award, shall be withheld at the time such ROE Award or Value Management Award otherwise would be paid to the Participant.” 
 
9.    Amendment to Section
3.5.    Section 3.5 is amended in its entirety so as to read as follows: 
 

	 	“3.5	 	FICA Tax.    Any applicable FICA and other payroll taxes on amounts deferred under this Article, including ROE Awards and Value Management
Awards, may be withheld from that portion of the Participant’s Base Salary, Annual Bonus, ROE Award 

 
 

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and/or Value Management Award that is not being deferred. If necessary, the Committee may
reduce the amount of Base Annual Salary, Annual Bonus, ROE Award and/or Value Management Award deferred, in order to enable the Company to withhold all applicable FICA and other payroll taxes on amounts deferred under this Article.”

 
10.    Amendment to
Section 3.6.    Section 3.6 is amended by deleting the first three sentences thereof in their entirety and substituting therefor the following: 
 
“Prior to any distribution of benefits under Articles 4, 5, 6 or 7, returns shall be credited to a
Participant’s Account Balance as though the Annual Deferral Amount for that Plan Year was withheld on the Participant’s Plan Entry Date for that Plan Year. Returns shall be credited on a deferral from an ROE Award or a Value Management
Award as though the deferral amount was withheld on the day immediately following the last day the applicable award cycle. Each Participant’s Account Balance shall be compounded annually, using the Moody’s Seasoned Corporate Bond Rate, or
such other rate as the Committee may determine in its sole discretion prior to the beginning of a Plan Year.” 
 
11.    Amendment to Section 4.1(a).    Section 4.1(a) is hereby amended in its entirety so
as to read as follows: 
 

	 	“(a)	 	In the event that a Participant elects to defer an Annual Deferral Amount, an ROE Award and/or a Value Management Award in a Plan Year, such Participant may, subject
to subsection (b), elect to receive all, but not less than all, of the amounts so deferred as a lump sum distribution (“Pre-Retirement Distribution”) on a specified date prior to such Participant’s Retirement. The Pre-Retirement
Distribution shall be in an amount equal to the amounts so deferred, plus returns credited in accordance with Section 3.6, and shall be paid within 60 days following the first day of the Plan Year chosen by the Participant on the Election Form for
such distribution. The earliest date that a Participant may receive a Pre-Retirement Distribution is 5 years after the first day of the Plan Year in which such deferral occurs.” 

 
12.    Amendment to Section
5.2.    Section 5.2 is hereby amended be deleting the last paragraph thereof in its entirety and substituting therefor the following: 
 
“Notwithstanding the foregoing, if a Participant’s Account Balance is 
 
 

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under $25,000 on the date of Retirement, such Account Balance shall be paid to the
Participant in a lump sum as soon as practicable following the date of such Retirement.” 
 
13.    Amendment to Section 7.2(b).    Section 7.2(b) is hereby amended in its entirety so as to read as follows: 
 

	 	“(b)	 	If a Participant’s Termination Benefit is under $25,000 on the date of such Participant’s Termination of Employment, such Termination Benefit shall be paid
to the Participant in a lump sum as soon as practicable following the date of such Termination of Employment.” 

 
14.    Effective Date; No Other Amendments.    The effective date of this Amendment shall
be June 28, 1999. Except as expressly amended hereby, the 1998 Restatement remains in full force and effect. 
 

	 CNF TRANSPORTATION INC.

	
	 By:
	 	

	 	 	 Eberhard G.H. Schmoller
 Senior Vice President, General
 Counsel and Secretary

	 Executed: June 28, 1999

 
 
 
 
 
 

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