Document:

YRC Worldwide Inc. Director Compensation Plan

 Exhibit 10.12.1 

YRC WORLDWIDE INC. 
 DIRECTOR COMPENSATION PLAN 

July 14, 2005 
 This
Director Compensation Plan (this “Plan”) of YRC Worldwide Inc., a Delaware corporation (the “Company”), amends, restates and replaces the Directors Compensation Plan approved on December 9, 2004, in its entirety, and
summarizes the director compensation of the Company. 
  

	1.	DEFINITIONS, ADMINISTRATION AND CONSTRUCTION 

 

	 	(a)	The following capitalized terms used in this Plan shall have the following meanings given to each of them in this Section 1(a): 

“Annual Governance Cycle” means the period from the Board meeting immediately following the Company’s Annual Meeting of
Stockholders until the next such meeting the following year; 
 “Board” means the Board of Directors of the Company;

 “Committee” means a committee of the Board; 
 “Common Stock” means Company Common Stock, $1.00 par value per share; 

“Compensation Committee” means the Compensation Committee of the Board; 

“Equity Plan” means the Company’s 2004 Long-Term Incentive and Equity Award Plan or any other equity plan of the Company
that permits the award of Common Stock or Common Stock derivatives to Participants pursuant to this Plan; and 

“Participant” means a director of the Company who is not an employee of the Company. 

“Secretary” means the Secretary of the Company. 
  

	 	(b)	 The Compensation Committee shall administer this Plan. The Compensation Committee may adopt rules for the administration of this Plan as it may deem
necessary or advisable. The Compensation Committee shall administer this Plan in accordance with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), for deferrals made after December 31, 2004. The
Compensation Committee has full and absolute discretion in the exercise of each and every aspect of the rights, power, authority and duties retained or granted it under this Plan, including the authority to determine all facts, to interpret this
Plan, to apply the terms of this Plan to the facts determined, to make decisions based upon those facts and to make any and all other decisions required of it by 

	 	 
this Plan, such as the right to benefits, the correct amount and form of benefits, the determination of any appeal, the review and correction of the actions of any prior administrative committee,
and the other rights, powers, authority and duties specified in this paragraph and elsewhere in this Plan. Notwithstanding any provision of law, or any explicit or implicit provision of this document, any action taken, or finding, interpretation,
ruling or decision made by the Compensation Committee in the exercise of any of its rights, powers, authority or duties under this Plan shall be final and conclusive as to all parties, including without limitation all Participants, former
Participants and beneficiaries, regardless of whether the Compensation Committee or one or more of its members may have an actual or potential conflict of interest with respect to the subject matter of the action, finding, interpretation, ruling or
decision. No final action, finding, interpretation, ruling or decision of the Compensation Committee shall be subject to de novo review in any judicial proceeding. No final action, finding, interpretation, ruling or decision of the Compensation
Committee may be set aside unless it is held to have been arbitrary and capricious by a final judgment of a court having jurisdiction with respect to the issue. 

 

	 	(c)	Except as expressly stated to the contrary, references in this plan to “including” mean “including, without limitation” and to “persons”
mean natural persons and legal entities. 

  

	2.	RETAINERS. 

  

	 	(a)	From time to time, the Board (or at its direction, the Compensation Committee) may set retainers for Participants for their service as a member of the Board or one or
more of its Committees. Retainers for a Participant, including those for Committee chairs, may vary from those of other Participants. The current retainers for Participants are listed on Exhibit A. 

 

	 	(b)	Pursuant to this Plan and the Equity plan, at the beginning of each Annual Governance Cycle, each Participant shall be granted an award of shares of Common Stock equal
in value to 50% of the then applicable level of annual Board and Committee retainers. For each Annual Governance Cycle, a Participant may elect to receive more than 50% and up to 100% of the then applicable level of annual Board and Board Committee
retainers in Common Stock. If the Participant so elects, the elected additional percentage of annual Board and Committee retainers shall be issued pursuant to this Plan and the Equity Plan to the Participant at the beginning of the Annual Governance
Cycle for which the election is made. A form of the annual election is included in Exhibit B. 

  

	 	(c)	For the purposes of determining the number of shares to issue pursuant to this Section 2 and any election pursuant to Section 3, the value of the
Company’s Common Stock shall be determined in accordance with the Equity Plan. If the Equity Plan does not specify a method to determine the value, the number of shares to be issued pursuant to this Section 2 shall be determined by
reference to the closing price of the Common Stock on the date of issuance. 

	 	(d)	Annual retainers are intended to compensate Participants for each Annual Governance Cycle. A Participant who joins the Board during an Annual Governance Cycle shall
receive annual retainers that are pro-rated based on the number of whole or partial months of an Annual Governance Cycle in which the Participant first serves. The Company shall pay the joining Participant these retainers in cash in quarterly
installments until the beginning of the next Annual Governance Cycle in accordance with Section 2(d). 

  

	 	(e)	The Company shall pay to each Participant in cash any amount of retainers that are not paid to the Participant in Common Stock pursuant to this Section 2. The
Company shall pay the cash portion of the retainers to each Participant in four quarterly installments. The Company shall pay each installment to the Participant on the date of the first regular meeting of the Board for that quarter. If no such
regular meeting is held during a quarter, the Company shall pay the Participant the installment on the last day of the calendar quarter. 

  

	3.	MEETING FEES. 

  

	 	(a)	From time to time, the Board (or at its direction, the Compensation Committee) may set meeting fees for Participants for their attendance at meetings of the Board or
one or more of its Committees. The amount of the meeting fees for a Participant, including those for Committee chairs, may vary from those of other Participants. The current meeting fees for Participants are listed on Exhibit A.

  

	 	(b)	Unless a valid deferral election is made pursuant to Section 4, meetings fees shall be due and payable to each Participant upon the Participant’s attendance
at the applicable meeting. 

  

	 	(c)	Meeting fees shall be paid in cash. 

  

	4.	EQUITY GRANTS. 

 From time to time, the Board (or at its direction, the Compensation Committee) may make grants of Common Stock or Common Stock derivatives (such as stock options or restricted unit awards) to Participants
as compensation for their service on the Board with such terms and conditions as are stated in the grant. The grant shall be made pursuant to this Plan and the terms of the Equity Plan. The current equity grants are summarized on Exhibit A.

	5.	COMPENSATION DEFERRAL. 

  

	 	(a)	Pursuant to a written election, a Participant may defer receipt of all of the Participant’s retainer fees that the Participant elects to receive in stock (under
Section 2) or all of the meeting fees (under Section 3), in each case, with respect to a year, until the Participant’s termination of service on the Board (whether by death, disability, resignation, removal, failure to be reelected or
otherwise) or until the earlier of January 1 in a year that the Participant specifies or the Participant’s termination of service with the Board. The Company shall maintain an account for each Participant to record the amount of
compensation so deferred and shall provide the Participant with an account statement at least annually. 

  

	 	(b)	A Participant must make a written deferral election for the following year prior to the beginning of each calendar year. Participants who have become a director during
a calendar year must make an election for the remaining portion of that year within 30 days of their election or appointment as a director. Initial elections with respect to this Plan must be made within 30 days of its adoption. A form of the annual
election is included in Exhibit B. This election should be delivered to the Secretary. 

  

	 	(c)	Upon the termination of the deferral, the Company shall issue and pay to the Participant the deferred shares, deferred dividends and additions on dividends and deferred
cash meeting fees in the Participant’s deferred account within a reasonable time and in accordance with the Code and regulations promulgated thereunder. 

 

	 	(d)	If the Company declares a dividend on its stock, the Company shall create an account on the books of the Company reflecting the cash value of the dividend based upon
the number of shares reflected in Participant’s stock account. On December 31 of each year, an annual addition shall be made to the Participant’s dividend account (for the purpose of simulating an investment return) in accordance with
the formula as follows: 

 X = A x B 
 Where 
 X is the amount of the annual addition 

A is the discount interest rate on the first new 12 month U.S. Treasury Bills auctioned in such year. 

B is the sum of the balances in the account on the last day of each month of such year divided by 12. 

If payment is made by reason of death and the payment is made in a month other than January, a pro rata addition to the account shall be
made immediately prior to payment in accordance with the formula as follows: 
 Y = C x D 

Where 

 Y is the amount of the pro rata addition. 

C is the discount interest rate on the first new 12 month U.S. Treasury Bills auctioned in such year. 

D is the sum of the balances in the account on the last day of each month preceding payment in such year divided by 12. 

 

	 	(e)	The Company shall not pay any interest or any other addition on cash meeting fees deferred under the terms of this Plan. 

 

	 	(f)	If a Participant dies, the Company shall pay any amounts deferred under this Plan to the beneficiary or beneficiaries, if any, that the Participant designates to the
Secretary in writing during the Participant’s lifetime. During his/her lifetime, the Participant may revoke or change any designation of beneficiary by delivering the revocation or designation in writing to the Secretary. If no beneficiary is
designated or survives the Participant, then the accounts shall be issued and paid to the Participant’s personal representative. 

  

	 	(g)	The Participant understands that all stock and cash deferred hereunder (i.e., the balance of his/her accounts) are unfunded, will be represented by appropriate
bookkeeping entries and will be paid from the general assets of the Company when due pursuant to the terms of this Plan. Any such amounts due the Participant shall be unsecured, general obligations of the Company. 

 

	 	(h)	Stock and cash deferred under this Plan, and any and all rights thereto, shall not be subject in any manner to anticipation, alienation, sale, transfer, assignment,
pledge, encumbrance, charge, garnishment, execution, or levy of any kind, either voluntary or involuntary. Any attempt to anticipate, alienate, sell, transfer, assign, pledge, encumber, charge or otherwise dispose of any rights to amounts deferred
or payable hereunder shall be void. 

  

	6.	GENERAL 

  

	 	(a)	None of this Plan, the Equity Plan, the grant of any award under this Plan or the Equity Plan or any other action taken pursuant to this Plan or the Equity Plan shall
constitute or be evidence of any agreement or understanding, express or implied, that the Company will retain a Participant for any period of time or at any particular rate or amount of compensation. 

 

	 	(b)	Except by the laws of decent and distribution in the event of a Participant’s death, the rights and benefits of this Plan may not be assigned or otherwise
transferred. A Participant shall cease to be a Participant under this Plan upon the Participant’s termination of his or her directorship with the Company whether by death, disability, retirement, resignation or removal.

  

	 	(c)	Any notice to the Company that this Plan requires shall be in writing, addressed to the Secretary and be effective when the Secretary receives the notice.

	 	(d)	This Plan and any determination or action taken respecting this Plan shall be governed by and construed in accordance with the laws of the State of Delaware, without
reference to its law of conflicts of law. 

  

	7.	EQUITY OWNERSHIP GUIDELINES* 

 Each Participant shall own shares of Company common stock or restricted stock units to receive shares of Company common stock equal to three times the annual board retainer within three years of
July 14, 2005 or the date the Participant becomes an outside director of the Board. 
  

	*	The Equity Ownership Guidelines have been suspended since 2009. 

 Exhibit A** 

Board Retainers as of June 29, 2010 
 Annual retainer = $50,000 
 Annual retainer for Finance Committee Chair = $5,000 

Annual retainer for Pension and Benefits Strategy Committee Chair = $5,000 
 Annual retainer for Governance Committee Chair = $5,000 
 Annual retainer for Compensation
Committee Chair = $7,500 
 Annual retainer for Audit/Ethics Committee Chair = $10,000 
 Annual retainer for Committee members = $0 
 Meeting fees as of June 29,
2010 
 $1,500 for each Board meeting attended 
 $1,500 for each Committee meeting attended (except for the Pension and Benefits Strategy Committee) 

$1,500 per day (prorated based on an eight-hour day) for services that the Chairman of the Board may request from time to time of the Pension and Benefits
Strategy Committee Chair 
 Equity grants as of July 14, 2005 

Restricted stock units equal in value to $77,500 (using the reported closing price on the NASDAQ Stock Market on the date of grant)
vesting 1/3 of the units on each of the 1st, 2nd and 3rd anniversaries of the date of grant, which grant is to be made on the first meeting of the Board following the annual
meeting of stockholders of the Company 
  

	**	At the board meeting on June 29, 2010, the Board determined to pay the annual retainers for Board service and for services as chairpersons of Board committees for
the 2010-2011 Annual Governance Cycle 100% in cash, instead of 50% cash and 50% common stock. Also, the Board did not receive an annual equity grant in 2010. In addition, since January 2009, all retainers and regular meeting fees have been reduced
by 10% in conjunction with the reduction in employee wages and salaries, and the Board has voluntarily waived any fees for telephonic special meetings of the Board and the Audit/Ethics, Compensation and Governance committees of the Board.

 Exhibit B 

ANNUAL DIRECTOR COMPENSATION ELECTION FORM 

To the Secretary of YRC Worldwide Inc.: 
 I
wish to receive         % of Board and Committee chair retainers in the form of YRC Worldwide Inc. stock for the period of             
to              (the Annual Governance Cycle). (Must select at least 50%, if left blank or less than 50% selected, we will assume 50% is your selection). 

 

	 ̈	I hereby elect to defer all of my board and chairperson retainer fees for              (calendar
year). This election supercedes any prior election that I have may made for that period. (If you do not mark the box, we will assume that you do not wish to defer your retainer fees. If you mark the box but have not elected above to receive 100%
of your retainers in stock, we will assume that you intended to mark 100% of your retainers to be received in stock even if you indicated to the contrary.) 

 

	 ̈	I hereby elect to defer all of my attendance fees for              (calendar year). This election
supercedes any prior election that I have may made for that period. (If you do not mark the box, we will assume that you do not wish to defer your attendance fees. Please remember that deferred attendance fees will not earn interest or other
returns during the deferral.) 

 The deferrals marked above shall end as selected below: 

 

	 ̈	Termination of my service with Board (whether by death, disability, resignation, removal, failure to be reelected or otherwise) 

 

	 ̈	On the earlier of January 1,              (enter year) or termination of my service with the
Board 

  

					
			
	  	 		 	  
	(Print name)	 		 	(signature)Amendment No. 2 to Pension Plan

 Exhibit 10.28.3 

12/29/05 

AMENDMENT NO. 2 TO 
 YELLOW CORPORATION PENSION PLAN 
 As amended and restated January 1,
2004 
 WHEREAS, Yellow Roadway Corporation (the “Company”) previously adopted the Yellow
Corporation Pension Plan, as amended and restated January 1, 2004 (the “Plan”); 
 WHEREAS,
Section 3.1(f) of the Plan generally provides that participation thereunder is limited to those employees who were participants under the Plan as of December 31, 2003; 

WHEREAS, Section 5.5 of the Plan generally provides that, if upon termination of employment, the present value of a
participant’s accrued benefit is not more than $5,000, then the Plan will automatically distribute the accrued benefit to the Participant in a single lump sum payment; 
 WHEREAS, Section 11.1 of the Plan provides the Company may amend the Plan at any time by action of its Board of Directors or the Compensation Committee of its Board of Directors; 

WHEREAS, effective March 28, 2005, regulations issued by the Department of Labor and similar guidance issued by the Internal
Revenue Service (“Regulations”) provide that under a tax-qualified retirement plan where the present value of a participant’s accrued benefit is greater than $1,000, but not more than $5,000, then upon mandatory distribution of
the accrued benefit as a lump sum, the distribution is required to be rolled over to an individual retirement plan designated by the plan administrator if the participant does not make an election with respect to his or her accrued benefit; and

 WHEREAS, the Corporation desires to amend the Plan (i) to comply with the Regulations and provide that, if a
participant fails to elect whether to have a mandatory distribution paid to him or her directly or paid in a direct rollover to an eligible retirement plan, the Administrative Committee will pay the distribution in cash in a direct rollover to an
individual retirement plan established by the Administrative Committee, (ii) to clarify that an employee who is a participant under the Plan as of December 31, 2003, and who thereafter transfers employment to a nonparticipating Company
affiliate and transfers back to employment with a participating employer in the Plan will resume active participation under the Plan, and that if such employee is a nonhighly compensated employee, the employee will receive compensation and service
credit for the employee’s period of employment with the nonparticipating Company affiliate; and (iii) to make certain technical and conforming changes to the Plan. 

 NOW, THEREFORE, BE IT RESOLVED, that, effective January 1, 2004, the Plan shall
be amended as follows: 
 1. Restate Section 2.1(h)(2) in its entirety as follows: 

(h) Base Wage Credited Service After December 31, 1967: With respect to all Annual Unit Credits to be accrued under the Plan
for Credited Service after December 31, 1967, an Employee’s “Base Wage” shall be (i) the total salary, wages and cash bonuses paid to him for personal services by the Employer, a Participating Affiliated Company or, in the
case of an Employee described in Section 3.1(f)(6), the nonparticipating Affiliated Company described in Section 3.1(f)(6), during the current year (or applicable portion thereof) before deductions for taxes or any other purpose (that is,
“Base Wage” after said date shall include salary, wages, and cash bonuses which are included for the current year (or portion thereof) on the federal W-2 income tax form), plus (ii) the amount of any reduction in such
Participant’s salary, wages, and bonuses for such year (or applicable portion thereof) made pursuant to a salary reduction agreement under Section 401(k), Section 125 and/or Section 132(f)(4) of the Code. 

2. Restate Section 3.1(f) in its entirety as follows: 
 (f) No Commencement of Participation After December 31, 2003 

Notwithstanding any other provision of the Plan, the provisions of this Section 3.1(f) shall be controlling. 

(1) Any Employee who is first hired by the Employer or any Affiliated Company after December 31, 2003, shall not
become a Participant under the Plan. 
 (2) Any Employee who is an Active Participant on December 13, 2003,
and who, after that date, incurs a Break in Service or, due to change in employment status, becomes ineligible to participate under Section 3.1 shall not again become an Active Participant, or accrue any additional benefits, under the Plan if
he is reemployed as an Employee or again becomes eligible to participate under Section 3.1. 
 (3) Any
individual who is a retired Participant on December 13, 2003, and who incurs a Break in Service shall not again become an Active Participant if the individual is rehired as an Employee by the Employer or a Participating Affiliated Company.

 (4) Any individual who, on December 31, 2003, is an Employee of an Affiliated Company that is not a
Participating Affiliated Company and who transfers to employment with the Employer or a 

 
Participating Affiliated Company after December 31, 2003, shall not become a Participant under the Plan. 

(5) Any individual who, on December 31, 2003, is an Active Participant, or an Employee who is eligible to become a
Participant upon completion of the age and service requirements of Section 3.1, will continue to be an Active Participant, or will become an Active Participant after completion of the age and service requirements of Section 3.1, on and
after January 1, 2004, so long as he remains an Employee eligible to participate under Section 3.1. 

(6) Notwithstanding (1) through (5) above, any Employee who (i) is an Active Participant on
December 31, 2003, (ii) transfers employment to an Affiliated Company that is not a Participating Affiliated Company after December 31, 2003, and (iii) transfers back to employment as an eligible Employee under Section 3.1
with the Employer or a Participating Affiliated Company after December 31, 2003, shall again become an Active Participant upon the date of the Employee’s transfer back to employment with the Employer or Participating Affiliated Company.

 3. Add the following sentence to the end of Section 3.3(c): 

Notwithstanding the foregoing, any Employee described in Section 3.1(f)(6) shall accrue Credited Service for the period the Employee
is employed by the nonparticipating Affiliated Company described in Section 3.1(f)(6). 
 4. In the parenthetical clause of
Section 5.1(c), replace the phrase “the first date on” with the phrase “the first date as of which.” 

5. Restate Section 5.1(e) in its entirety as follows: 
 (e) Any Pension herein which provides (i) a single life annuity to a Participant who is not married, or (ii) a 50% Joint and Survivor Annuity to a Participant who is married, on his or her
annuity starting date or, in the case of a Participant described in Section 5.1(l)(i), the date on which his or her Pension actually commences is a qualified joint and survivor annuity. 

6. In Section 5.1(i), replace the phrase “his election not to take a qualified joint and survivor annuity” with the phrase
“any benefit election made.” 
 7. Restate Section 5.1(l)(i)(A) in its entirety as follows: 

(A) The Participant affirmatively elects an annuity starting date that is the first day of any calendar month before the
date the written explanation is provided to the Participant, provided that the annuity 

 
starting date elected by the Participant shall not be (I) prior to the date on which the Participant otherwise could have first started receiving a Pension under the terms of the Plan (as
the Plan is in effect on the Participant’s annuity starting date), (II) prior to the Participant’s Normal Retirement Date, early retirement date under Section 4.2(b), or Rule of 85 Service retirement date under Section 4.2(c),
whichever is applicable, or (III) more than three months prior to the date on which the Participant’s Pension actually commences, except that the Participant’s annuity starting date may be more than three months prior to the date on which
the Participant’s Pension actually commences if his actual Pension commencement date is delayed pursuant to the Plan’s “qualified domestic relations order” (as defined in Code Section 414(p)) procedures. 

8. In Section 5.1(l)(i)(C), delete the phrase “as required.” 

9. In Section 5.1(l)(i)(E), replace the phrase “grants consent to the distribution” with the phrase “consents to the
distribution in the manner required for obtaining spousal consent under Section 5.1(d).” 
 10. Restate
Section 5.1(l)(i)(G) in its entirety as follows: 
 (G) The Pension benefit determined as of the Participant’s annuity
starting date satisfies, as of his or her annuity starting date, the requirements of Section 415 of the Code with the applicable interest rate and applicable mortality determined as of the Participant’s annuity starting date. 

11. Add the following phrase to the end of Section 5.1(l)(i)(H): “or is a level benefit option described under
Section 5.4.” 
 12. Delete Section 5.1(l)(iii). 

14. Add the following new Section 5.1(m): 
 (h) Notwithstanding any other provision of this Section 5.1, a married Participant may elect to waive the Qualified Joint and Survivor Annuity and elect a joint and survivor annuity that pays a
lifetime benefit to the Participant and, upon his death, pays an amount equal to any specified percentage greater than 50 (up to 100) of the benefit payable to the Participant to his surviving Eligible Spouse, if his Eligible Spouse is the Eligible
Spouse to whom the Participant was married on his annuity starting date or, in the case of a Participant described in Section 5.1(l)(i), the date on which the Participant’s Pension actually commences. This election may be made without the
consent of his Eligible Spouse. A joint and survivor annuity elected by a married Participant under this 

 
Section 5.1(h) must be Actuarially Equivalent to the Qualified Joint and Survivor Annuity with respect to such Participant. 

AND BE IT FURTHER RESOLVED, that, effective March 28, 2005, the Plan shall be amended by adding the following sentence to the
end of Section 5.5: 
 Effective March 28, 2005, if a mandatory distribution payable to a Participant under this
Section 5.5 is greater than $1,000 and the Participant does not elect to have the distribution paid directly to an eligible retirement plan specified by the Participant in a direct rollover pursuant to Section 5.7(a) or to receive the
distribution directly in accordance with applicable Sections of Article V, then the Administrative Committee shall pay the distribution in cash in a direct rollover to an individual retirement plan designated by the Administrative Committee.

 AND BE IT FURTHER RESOLVED, that the cross-references of the Plan be redesignated, as necessary, in accordance with
the foregoing resolutions. 
 AND BE IT FURTHER RESOLVED, that, except as otherwise amended by this Amendment No. 2,
all provisions of the Plan shall remain in full force and effect. 

 IN WITNESS WHEREOF, the Company has caused this instrument to be executed by its duly
authorized officers on this 29th day of December, 2005. 
  

			
	YELLOW ROADWAY CORPORATION
	By: Benefits Administrative Committee
		
	By:	 	  

	Name:	 	Harold D. Marshall
	Title:	 	Vice President – Employment Benefits, Chairman, Benefits Administrative Committee

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