Document:

<PAGE>
                                                                     EXHIBIT 4.4

                               YELLOW CORPORATION
                                  10777 BARKLEY
                           OVERLAND PARK, KANSAS 66211

                                                                  April 26, 1993

Citibank, N.A.
120 Wall Street
New York, New York 10043
Attention: Corporate trust Department

                        Re: Issuance of Medium-Term Notes

Gentlemen:

            Yellow Corporation, a Delaware corporation (the "Company"), hereby
agrees with you as follows:

            SECTION 1. Appointment of Paying Agent.

            The Company proposes to issue and sell up to $ in aggregate
principal amount of notes due from nine months to thirty years from date of
issue (the "Notes"), and has appointed Merrill Lynch & Co., Merrill Lynch,
Pierce, Fenner & Smith Incorporated (the "Placement Agent") as the Placement
Agent for such Notes. The Company hereby appoints Citibank, N.A. (the "Paying
Agent"), to act, on the terms and conditions specified herein, as issuing and
paying agent and registrar for the Notes.

            SECTION 2. Note Form; Signature.

            The Company will from time to time furnish the Paying Agent with an
adequate supply of registered Notes, without coupons, serially numbered, and
which will have the principal amount, date of issue, maturity date and rate of
interest left blank. Each will be signed (either manually or by mechanical
impression (facsimile signature) in the name and on behalf of the Company by any
two of the President, and any Vice President and the Treasurer of the Company,
or any one of the foregoing and any Assistant Treasurer of the Company acting
jointly (the "Requisite Officers"). The Notes will be substantially in the form
of Exhibit A hereto and shall have a maturity of not less

<PAGE>

                                       -2-

than nine months from date of issue and not more than thirty years from date of
issue, and shall be issued in the order of the serial numbers imprinted thereon
in denominations of $150,000 and any larger denominations in integral multiples
of $1,000. The Paying Agent will keep such blank Notes in safekeeping.

            SECTION 3. Requisite Officers.

            From time to time and at or prior to the date a request is made for
completion and delivery of Notes pursuant to Section 4(a) hereof, the Company
will furnish the Paying Agent with a certificate of the Company certifying the
incumbency and specimen signatures of Requisite Officers. Until the Paying
Agent receives a subsequent incumbency certificate, the Paying Agent shall be
entitled to rely on the information set forth in the incumbency certificate it
last received for purposes of determining the Requisite Officers. The Paying
Agent shall not have any responsibility to determine whether any signature on a
Note purporting to be that of a Requisite Officer is genuine, so long as such
signature resembles the specimen signature set forth in the original incumbency
certificate or in a subsequent certificate delivered to the Paying Agent. Any
Note bearing the signatures of two persons each of whom is a Requisite Officer
on the date he signs such Note shall be a binding obligation of the Company upon
the completion and countersignature thereof by the Paying Agent, notwithstanding
that such person shall have died or shall have ceased to hold his office or
shall have ceased to be a Requisite Officer on the date such Note is completed,
countersigned or delivered by the Paying Agent except as the Company has
notified the Paying Agent otherwise by delivery of a new incumbency certificate.

            SECTION 4. Completion, Authentication and Delivery of Notes.

            (a) From time to time, the Paying Agent shall receive instructions
regarding the completion and delivery of Notes. The Paying Agent may rely on
such instructions if they are received from any person or persons authorized in
writing by Requisite Officers from time to time to the Paying Agent and given by
telephone, telex, computer linkup or other electronic means pursuant to written
agreements between the Company and the Paying Agent. Oral instructions will
promptly be confirmed in written form pursuant to Section 19(a) hereof. Such
instructions shall include:

<PAGE>

                                       -3-

            (i) Number of Notes to be issued;

            (ii) Exact name of the person in whose name a Note is to be
      registered (the "Registered Holder");

            (iii) Exact address of the Registered Holder;

            (iv) Taxpayer identification number of the Registered Holder;

            (v) Principal amount of such Note;

            (vi) Interest rate to be borne by such Note;

            (vii) Date of maturity of such Note;

            (viii) Original issue date and settlement date of such Note;

            (ix) Amount to be received in payment of such Note (the "Purchase
      Price");

            (x) Interest Payment Dates;

            (xi) Record Dates; and

            (xii) Redemption Provisions, if any.

            (b) Upon receipt of such instructions, the Paying Agent shall:

            (i) complete each Note as to its Registered Holder, principal
      amount, interest rate, date of maturity, interest payment dates, record
      dates, redemption provisions (if any) and original issue date in
      accordance with such instructions;

            (ii) cause each Note to be manually countersigned by any one of the
      officers or employees of the Paying Agent duly authorized for such purpose
      and whose name has been promptly furnished to the Company at its request
      pursuant to section 19(a) hereof;

            (iii) deliver each Note to the Placement Agent or its designee,
      which delivery shall be against receipt for

<PAGE>

                                      -4-

      payment on the settlement date as herein provided or as otherwise provided
      in such instructions; and

            (iv) retain one stub copy of each Note for its records and send to
      the Company the other stub copy of each such Note.

            (c) Instructions regarding the completion of a Note must be received
by the Paying Agent not later than 2:30 p.m., New York City time, on the
business day (which term shall mean, for the purposes of this Note, any day
which is not a Saturday, Sunday or a day in which banks or trust companies in
the City and State of New York are authorized or obligated by law, regulation or
executive order to remain closed) next preceding the date on which settlement
for the Note is to occur by telephone, facsimile transmission or other means
acceptable to the Paying Agent. Oral instructions will promptly be confirmed in
written form pursuant to Section 19(a) hereof.

            SECTION 5. Proceeds of Sale of the Notes.

            The Paying Agent will deliver Notes to the Placement Agent or its
designee only against payment of the Purchase price in immediately available
funds to the general banking account (No. [3849-1394]) maintained by the Company
with the Paying Agent for that purpose.

            SECTION 6. Payment of Interest.

            Unless otherwise specified in the Note, interest payments will
be made on April 15 and October 15 (the "Interest Payment Dates") and at
maturity. All such interest payments (other than interest due at maturity) will
be male to the Registered Holder in whose name the Note is registered at the
close of business on the March 31 or September 30 ("Record Dates") next
preceding such Interest Payment Date, unless other Record Dates are specified in
the Note.  Notwithstanding the foregoing, if a Note is dated on or after the
Record Date and prior to but excluding the Interest Payment Date to which such
Record Date refers, the first payment of interest on such Note will be made on
the second succeeding Interest Payment Date. Interest on the Notes will accrue
from the most recent Interest Payment Date to which interest has been paid or
duly provided for, or if no interest has been paid, from the original Issue Date
until the principal of the Note is paid or made available for payment. Interest
will be calculated on the basis of a 360-day year of twelve 30-day months. All
interest payments on

<PAGE>

                                      -5-

the Notes (other than interest due at maturity) will be made by check of the
Paying Agent mailed to the Registered Holders, as such Registered Holders appear
on the Record Date in the Note Register referred to in Section 10 hereof, or at
such other place in the United States as such Registered Holder shall designate
to the Paying Agent in writing, provided such designation is received at least
five business days prior to the Record Date.

            SECTION 7. Payment of Principal

            The Paying Agent will pay the principal amount of each Note at
maturity, together with accrued interest due at maturity, in immediately
available funds against presentation of the Note.

            SECTION 8. Information Regarding Amounts Due.

            Unless otherwise instructed by the Company, promptly following each
Record Date, the Paying Agent will furnish the Company with a list of interest
payments to be made on the following Interest Payment Dates for each Note and in
total. The Paying Agent will provide to the Company by the fifteenth day of each
month a list of the principal and interest to be paid on Notes maturing in the
next succeeding month.

            SECTION 9. Deposit of Funds.

            The Company shall, on each Interest Payment Date on which interest
is payable, pay to the Paying Agent an amount in immediately available funds
sufficient to pay all interest due on the Notes on such Interest Payment Date
and shall, on the maturity date of any Note, pay to the Paying Agent an amount
in immediately available funds sufficient to pay the principal of any such Note,
together with accrued interest due at maturity.

            SECTION 10. Registration; Transfer.

            (a) The Paying Agent shall maintain a register in which it shall
register the names, addresses and taxpayer identification numbers of the holders
of the Notes in accordance with information provided pursuant to Section 4
thereof and shall register the transfer of the Notes to the extent permitted by
clause (c) below.

            (b) The Company and the Paying Agent may deem and treat the
Registered Holder of any Note as the absolute owner

<PAGE>

                                      -6-

of such Note for the purposes of receiving, payment of the principal of and
interest on such Note and for all other purposes whatsoever, whether or not such
Note be overdue, and neither the Company nor the Paying Agent shall be affected
by notice to the contrary.

            (c) The Paying Agent shall not register the attempted transfer of
any Note unless it has received the written consent and confirmation of the
Company and the applicable Placement Agent to such transfer stating that such
transfer is subject to the transfer restrictions as set forth in the Note
(attached hereto as Exhibit A) and that such transfer is being made pursuant to
Rule 144A ("Rule l44A") of the Securities Act of 1933, as amended (the "1933
Act") to (i) a "qualified institutional buyer" (as defined in Rule l44A) under
Rule 144A or Regulation S of the 1933 Act or (ii) to an "accredited investor"
(as defined in Rule 501(a) of the 1933 Act). The Paying Agent shall register
such transfer in accordance with the conditions of such consent.

            (d) All Notes presented for presented registration of transfer shall
be duly endorsed or be accompanied by a written instrument of transfer and a
certification that such transfer is pursuant to Rule 144A in a form reasonably
satisfactory to the Company, duly executed by the Registered Holder or his duly
authorized (in writing) attorney.

            SECTION 11. Mutilated, Lost, Stolen or Destroyed Notes.

            In case any Note shall become mutilated or destroyed, lost or
stolen, the Company in its discretion may execute and upon its request the
Paying Agent shall authenticate and deliver, a new Note having a number not
contemporaneously outstanding, in exchange and substitution for the affiliated
Note or in lieu of and substitution for the Note destroyed, lost or stolen. In
every such case, the applicant for a substituted Note shall furnish to the
Company and to the Paying Agent such security or indemnity as may be required by
them to save each of them harmless, and, in every case of destruction, loss or
theft, the applicant shall also furnish to the Company and to the Paying Agent
evidence to their satisfaction of the destruction, loss or theft of such Note
and of the ownership thereof. The Paying Agent may authenticate any such
substituted Note and deliver the same upon the written request or authorization
of the Requisite Officers. Upon the issuance of any substituted

<PAGE>

                                      -7-

Note, the Company may require from the applicant the payment of a sum sufficient
to cover any expense connected therewith. In case any Note which has matured or
is about to mature shall become mutilated or be destroyed, lost or stolen, the
Company may, instead of issuing a substitute Note, pay or authorize the payment
of the same (without surrender thereof except in the case of a mutilated Note)
if the applicant for such payment shall furnish the Company and the Paying Agent
with such security or indemnity as may be required by them to save each of them
harmless, and, in the case of destruction, loss or theft, evidence to the
satisfaction of the Company of the destruction, loss or theft of such Note and
of the ownership thereof. All applications under this Section 11 shall be
processed by the Paying Agent.

            SECTION 12. Satisfaction and Discharge.

            The Company at any time may satisfy all of its obligations with
respect to the Notes by irrevocably depositing in trust with the Paying Agent
cash or U.S. Government Securities with maturity dates, interest rates or yields
and principal amounts sufficient to pay the principal of and interest on all
such Notes as and when the same become due and payable. In the event of any such
deposit, the Paying Agent agrees that it will hold such cash or U.S. Government
Securities so deposited, in trust for the benefit of the holders of Notes, as
trust funds for payment of the principal of and interest on the Notes to which
such deposit relates. For the purposes hereof, the term "U.S. Government
Securities" means direct obligations of the United States of America to pay
principal which obligations are not callable at the issuer's option, or direct
obligations of the United States of America to pay interest, in each case for
the payment of which the full faith and credit of the United States of America
is pledged.

            SECTION 13. Return of the Unclaimed Funds.

            Any cash or U.S. Government Securities deposited with the Paying
Agent and remaining unclaimed for two years after the date upon which the last
payment of principal of or interest on any Note to which such deposit relates
shall have become due and payable, shall be repaid to the Company by the Paying
Agent on demand, and the holder of any Note to which such deposit related
entitled to receive payment shall thereafter look only to the Company for the
payment thereof and all liability of the Paying Agent with respect to such cash
or U.S. Government Securities shall thereupon cease.

<PAGE>

                                      -8-

            SECTION 14. Resignation or Removal of Paying Agent.

            The Paying Agent may at any time resign as such Agent by giving
written notice to the Company of such intention on its part, specifying the date
on which its desired resignation shall become effective; provided, however, that
such date shall not be less than three months after receipt of such notice by
the Company. The Paying Agent may be removed at any time by the filing with it
of an instrument in writing signed on behalf of the Company and specifying such
removal and the date when it is intended to become effective. Such resignation
or removal shall take effect upon the date of the appointment by the Company of
a successor Paying Agent, and the acceptance of such appointment by such
successor Paying Agent.

            SECTION 15. Reliance on Instructions.

            The Paying Agent shall incur no liability in acting hereunder upon
instructions pursuant to Section 4 hereof and as otherwise contemplated hereby
which the Paying Agent believed in good faith and without gross negligence to
have been properly given.

            SECTION 16. Cancellation; Destruction of Cancelled and Unissued
Notes.

            All Notes surrendered for payment, registration of transfer or
exchange shall upon receipt be promptly cancelled by the Paying Agent. All
cancelled Notes shall be destroyed by the Paying Agent and the Paying Agent
shall forthwith deliver a certificate of such destruction to the Company. Upon
the written request of the Company, the Paying Agent shall promptly destroy all
unissued Notes in its possession and forthwith deliver a certificate of such
destruction to the Company.

            SECTION 17. Representation and Warranties of the Company.

            Each instruction given to the Paying Agent in accordance with
Section 4 hereof shall constitute a representation and warranty to the Paying
Agent by the Company that the issuance and delivery of the Notes have been duly
and validly authorized by the Company and when completed, countersigned and
delivered pursuant hereto, the Notes will constitute the valid and legally
binding obligations of the Company.

<PAGE>

                                      -9-

            SECTION 18. Fees.

            For its services under this Agreement, the Company agrees to pay the
compensation of the Paying Agent at such rates as shall be agreed upon between
the Company and the Paying Agent from time to time. The Company will reimburse
the Paying Agent upon request for all reasonable expenses, disbursements and
advances (including reasonable legal fees and expenses) incurred or made in
accordance with any of the provisions of this Agreement.

            SECTION 19. Notices.

            (a) All communications by or on behalf of the Company relating to
the completion, delivery or payment of the Notes are to be directed to Citibank,
N.A., Corporate Trust Services Department, MTN Unit, 111 Wall Street, 5th Floor,
New York, New York 10043 (or such other department or division as the Paying
Agent shall specify in writing to the Company). The Company will send all Notes
to be completed and delivered by the Paying Agent to such Corporate Trust
Services Department (or such other department or division as the Paying Agent
shall specify in writing to the Company) and send under separate cover a copy of
its letter transmitting such Notes to Citibank, NA. Corporate Trust Department,
120 Wall Street, 13th Floor, New York, New York 10043. At the request of the
Company, the Paying Agent will advise the Company from time to time of the names
of the officers and employees of the Paying Agent generally responsible for the
completion, delivery or payment of the Notes.

            (b) Notices and other communications hereunder shall (except to the
extent otherwise expressly provided) be in writing and shall be addressed as
follows, or to such other address as the party receiving such notice shall have
previously specified:

                            If to the Company:

                                        Yellow Corporation
                                        P.O. Box 7563
                                        10777 Barkley Avenue
                                        Overland Park, Kansas 66211-1162

                                        Attention: Vice President and Treasurer
                                        Telephone: (913) 345-1020
                                        Telecopy:  (913) 345-3433

<PAGE>

                                     -10-

                            If to the Paying Agent:

                                   Citibank, NA.
                                   120 Wall Street, 13th Floor
                                   New York, New York 10043

                                   Attention:   Corporate Trust Department
                                   Telephone:   (212) 412-6253
                                   Telecopiers: (212) 480-1613
                                                (212) 480-1614

            SECTION 20. Information Furnished by the Paying Agent.

            Upon the reasonable request of the Company, given at any time and
from time to time, the Paying Agent shall promptly provide the Company with
information with respect to the Notes issued hereunder to the extent such
information is reasonably available.

            SECTION 21. Liability.

            Neither the Paying Agent nor its officers or employees shall be
liable for any act or omission hereunder except in the case of gross negligence
or willful misconduct. The duties and obligations of the Paying Agent, its
officers and employees shall be determined by the express provisions of this
Agreement and they shall not be liable except for the performance of such duties
and obligations as are specifically set forth herein and no implied covenants
shall be read into this Agreement against them. Neither the Paying Agent nor its
officers shall be required to ascertain whether any issuance or sale of Notes
(or any amendment or termination of this Agreement) is in compliance with any
other agreement to which the Company is a party (whether or not the Paying Agent
is also a party to such other agreement).

            SECTION 22. Indemnification.

            The Company agrees to indemnify and hold harmless the Paying Agent,
its officers and employees from and against all liabilities, losses and
reasonable expenses (including reasonable legal fees and expenses) relating to
or arising out of their actions or inactions in any capacity hereunder, except
liabilities, losses and expenses caused by the gross negligence or willful
misconduct of the Paying Agent, its officers or

<PAGE>

                                     -11-

employees. This indemnity shall survive termination of this Agreement.

            SECTION 23. Benefit of Agreement.

            This Agreement is solely for the benefit of the parties hereto and
their successors and assigns and no other person shall acquire or have any right
under or by virtue hereof.

            SECTION 24. Governing Law.

            This Agreement shall be governed by, and construed in accordance
with, the laws of the State of New York.

            SECTION 25. Counterparts.

            This Agreement may be executed by the parties hereto in any number
of counterparts, and by each of the parties hereto in separate counterparts,
each of which counterparts, when so executed and delivered, shall be deemed to
be an original, but all such counterparts shall together constitute but one and
the same instrument.

            Please indicate your acceptance hereof by signing and returning to
us a copy of this Agreement. Very truly yours,

                                           YELLOW CORPORATION

                                           By /s/ P. A. SPANGLER
                                             -----------------------------------
                                             Vice President and Treasurer

Accepted and agreed to
as of the date first
written above:

CITIBANK, N.A.

By________________________________
      Title:<PAGE>
                                                                    EXHIBIT 10.1

                          EXECUTIVE SEVERANCE AGREEMENT

      AGREEMENT between Yellow Corporation, a Delaware corporation ("Yellow")
and [executive] (the "Executive"),

      WITNESSETH:

      WHEREAS, the Compensation Committee of the Board of Directors (the
"Board") of Yellow has recommended, and the Board has approved, Yellow entering
into severance agreements with key executives of Yellow and its Subsidiaries
(hereinafter sometimes collectively referred to as the "Corporation"; and

      WHEREAS, the Executive is a key executive of Yellow or one of its
subsidiaries and has been selected by the Board as a key executive; and

      WHEREAS, should Yellow receive any proposal from a third person concerning
a possible Business Combination with, or acquisition of equity securities of,
Yellow, the Board believes it important that the Corporation and the Board be
able to rely upon the Executive to continue in his position, and that Yellow
have the benefit of the Executive performing his duties without his being
distracted by the personal uncertainties and risks created by such a proposal;

      NOW, THEREFORE, the parties agree as follows:

      1.    Definitions.

      (a)   "Business Combination" means any transaction which is referred to in
            any one or more of clauses (a) through (e) of Section 1 of
            Subparagraph A of Article Seventh of the Certificate of
            Incorporation of Yellow Corporation.

      (b)   "Cause" means conviction of a felony involving moral turpitude by a
            court of competent jurisdiction, which is no longer subject to
            direct appeal, or an adjudication by a court of competent
            jurisdiction, which is no longer subject to direct appeal, that the
            Executive is mentally incompetent or that he is liable for willful
            misconduct in the performance of his duty to the Corporation which
            is demonstrably and materially injurious to the Corporation.

      (c)   "Change of Control," for the purposes of this Agreement, shall be
            deemed to have taken place if: (i) a third person, including a
            "group" as defined in Section 13(d)(3) of the Securities Exchange
            Act of 1934, purchases or otherwise acquires shares of the
            Corporation after the date hereof and as a result thereof becomes
            the beneficial owner of shares of the Corporation having 20% or more
            of the total number of votes that may be cast for election of
            directors of Yellow; or (ii) as the result of, or in connection with
            any cash tender or exchange offer, merger or other Business
            Combination, or contested election, or any combination of the
            foregoing transactions, the Continuing Directors shall cease to
            constitute a majority of the Board of Directors of Yellow or any
            successor to Yellow.

      (d)   "Continuing Director" means a director of Yellow who meets the
            definition of Continuing Director contained in Section 7 of
            Subparagraph C of Article Seventh of the Certificate of
            Incorporation of Yellow Corporation.

      (e)   "Corporation" means Yellow Corporation and its subsidiaries.

<PAGE>

      (f)   "Normal Retirement Age" means the last day of the calendar month in
            which the Executive's 65th birthday occurs.

      (g)   "Permanent Disability" means a physical or mental condition which
            permanently renders the Executive incapable of exercising the duties
            and responsibilities of the position he held immediately prior to
            any Change of Control.

      (h)   "Subsidiary" means any domestic or foreign corporation, a majority
            of whose shares normally entitled to vote in electing directors is
            owned directly or indirectly by Yellow or by other Subsidiaries.

      2.    Services During Certain Events. In the event a third person begins a
            tender or exchange offer, circulates a proxy to shareholders, or
            takes other steps seeking to effect a Change of Control (as herein
            defined), the Executive agrees that he will not voluntarily leave
            the employ of the Corporation without the consent of the
            Corporation, and will render the services contemplated in the
            recitals to this Agreement, until the third person has abandoned or
            terminated his or its efforts to effect a Change of Control or until
            90 days after a Change of Control has occurred. In the event the
            Executive fails to comply with the provisions of this paragraph, the
            Corporation will suffer damages which are difficult, if not
            impossible, to ascertain. Accordingly, should the Executive fail to
            comply with the provisions of this paragraph, the Corporation shall
            retain the amounts which would otherwise be payable to the Executive
            hereunder as fixed, agreed and liquidated damages but shall have no
            other recourse against the Executive.

      3.    Termination After Change of Control. "Termination" shall include
            (a) termination by the Corporation of the employment of the
            Executive with the Corporation within two years after a Change of
            Control for any reason other than death, Permanent Disability,
            retirement at or after his Normal Retirement Age, or Cause or (b)
            resignation of the Executive after the occurrence of any of the
            following events within two years after a Change of Control of
            Yellow:

      a)    An adverse change of the Executive's title or a reduction or adverse
            change in the nature or scope of the Executive's authority or duties
            from those being exercised and performed by the Executive
            immediately prior to the Change of Control.

      b)    A transfer of the Executive to a location which is more than 35
            miles away from the location where the Executive was employed
            immediately prior to the Change of Control.

      c)    Any reduction in the rate of the Executive's annual salary below his
            rate of annual salary immediately prior to the Change of Control.

      d)    Any reduction in the level of the Executive's fringe benefits or
            bonus below a level consistent with the Corporation's practice prior
            to the Change of Control.

      4.    Termination of Payments. In the event of a Termination, as defined
            in Paragraph 3, Yellow shall provide to the Executive the following
            benefits:

      a)    Yellow shall pay to the Executive on or before the Executive's last
            day of employment with the Corporation, as additional compensation
            for services

<PAGE>

            rendered to the Corporation, a lump sum cash amount (subject to the
            minimum applicable federal, state or local lump sum withholding
            requirements, if any, unless the Executive requests that a greater
            amount be withheld) equal to two times the highest base salary and
            bonuses paid or payable to the Executive by the Corporation with
            respect to any 12 consecutive month period during the three years
            ending with the date of the Executive's Termination. In the event
            there are fewer than 120 whole or partial months remaining from the
            date of the Executive's Termination to his Normal Retirement Age,
            the Executive shall be paid three times such highest base salary and
            bonuses.

      b)    During the "Applicable Period" (as hereinafter defined), following
            the Executive's Termination, the Executive shall be deemed to remain
            an employee of the Corporation for purposes of the applicable
            medical, life insurance and long-term disability plans and programs
            covering key executives of the Corporation and shall be entitled to
            receive the benefits available to key executives thereunder,
            provided, however, that in the event the Executive's participation
            in any such employee benefit plan or program is barred, the
            Corporation shall arrange to provide the Executive with
            substantially similar benefits. For purposes of this Agreement, the
            "Applicable Period" shall mean (i) if there are fewer than 120 whole
            or partial months remaining from the date of the Executive's
            Termination to his Normal Retirement Date, three years, or (ii) if
            subclause (i) above is not applicable, two years.

      c)    The Executive shall be entitled to the Gross-Up Payment, if any,
            described in Paragraph 6.

      5.    Stock-Out of Options. In the event of a Change of Control, the
            Executive shall receive in exchange for his non-qualified stock
            options and incentive stock options granted by the Corporation which
            are outstanding on the date of the Change of Control, common stock
            of Yellow (or, if Yellow or its successor becomes a subsidiary of
            another company, common stock of such other company) having a fair
            market value equal to the fair market value of such stock options on
            the effective date of the Change of Control (such value to be
            determined by an independent accounting firm retained by Yellow
            using a Black-Scholes based pricing formula without giving
            consideration to the lack of transferability and the risk of
            forfeiture). Such options shall thereupon terminate. For as long as
            this Agreement shall be in effect, the provisions of this Paragraph
            5 shall be deemed to have amended the terms of any and all existing
            option agreements between the Executive and the Corporation except
            any option agreements representing incentive stock options
            outstanding on the date of this Agreement.

<PAGE>

      6.    Additional Payments by Yellow.

      a)    Gross-Up Payment. In the event it shall be determined that any
            payment or benefit of any type by the Corporation to or for the
            benefit of the Executive, whether paid or payable or distributed or
            distributable pursuant to the terms of this Agreement or otherwise
            (determined without regard to any additional payments required under
            this Paragraph 6) (the "Total Payments") would be subject to the
            excise tax imposed by Section 4999 of the Internal Revenue Code of
            1986, as amended (the "Code") (or any similar tax that may hereafter
            be imposed) or any interest or penalties with respect to such excise
            tax (such excise tax, together with any such interest and penalties,
            are collectively referred to as the "Excise Tax"), then the
            Executive shall be entitled to receive an additional payment (a
            "Gross-Up Payment") in an amount such that after payment by the
            Executive of all taxes (including any interest or penalties imposed
            with respect to such taxes), including any Excise Tax, imposed upon
            the Gross-up Payment, the Executive retains an amount of the
            Gross-Up Payment equal to the Excise Tax imposed upon the Total
            Payments. Payment of the Gross-Up Payment shall be made promptly
            following the determination by the Accounting Firm as described in
            subparagraph (b) of this Paragraph 6 or in accordance with
            subparagraph (c) of this Paragraph 6.

      b)    Determination by Accountant. All determinations required to be made
            under this Paragraph 6, including whether a Gross-Up Payment is
            required and the amount of such Gross-Up Payment, shall be made by
            an independent accounting firm retained by Yellow (the "Accounting
            Firm"), which shall provide detailed supporting calculations both to
            Yellow and the Executive within 15 business days of the date of
            Termination, if applicable, or such earlier time as is requested by
            Yellow. If the Accounting Firm determines that no Excise Tax is
            payable by the Executive, it shall furnish the Executive with an
            opinion that he has substantial authority not to report any Excise
            Tax on his federal income tax return. Any determination by the
            Accounting Firm shall be binding upon Yellow and the Executive. As a
            result of the uncertainty in the application of Section 4999 of the
            Code at the time of the initial determination by the Accounting Firm
            hereunder, it is possible that Gross-Up Payments which will not have
            been made by Yellow should have been made ("Underpayment")
            consistent with the calculations required to be made hereunder. In
            the event that Yellow exhausts its remedies pursuant to subparagraph
            (c) of this Paragraph 6 and the Executive thereafter is required to
            make a payment of any Excise Tax, the Accounting Firm shall
            determine the amount of the Underpayment that has occurred and any
            such Underpayment shall be promptly paid by Yellow to or for the
            benefit of the Executive. Yellow shall promptly pay all expenses of
            the Accounting Firm pursuant to this Paragraph 6.

      c)    Notification Required. The Executive shall notify Yellow in writing
            of any claim by the Internal Revenue Service that, if successful,
            would require the payment by Yellow of the Gross-Up Payment, Such
            notification shall be given as soon as practicable but no later than
            ten business days after the Executive knows of such claim and shall
            apprise Yellow of the nature of such claim and the date on which
            such claim is requested to be paid. The Executive shall not pay
            such claim prior to the expiration of the thirty-day period
            following the date on which it gives such notice to Yellow (or such
            shorter period ending on the date that any payment of taxes with
            respect to such claim is due). If Yellow notifies the

<PAGE>

            Executive in writing prior to the expiration of such period that it
            desires to contest such claim, the Executive shall:

                  (i)   give Yellow any information reasonably requested by
                        Yellow relating to such claim,

                  (ii)  take such action in connection with contesting such
                        claim as Yellow shall reasonably request in writing from
                        time to time, including, without limitation, accepting
                        legal representation with respect to such claim by an
                        attorney reasonably selected by Yellow,

                  (iii) cooperate with Yellow in good faith in order to
                        effectively contest such claim,

                  (iv)  permit Yellow to participate in any proceedings relating
                        to such claim, provided, however, that Yellow shall bear
                        and pay directly all costs and expenses (including
                        additional interest and penalties) incurred in
                        connection with such contest and shall indemnify and
                        hold the Executive harmless, on an after-tax basis, for
                        any Excise Tax or income tax, including interest and
                        penalties with respect thereto, imposed as a result of
                        such representation and payment of costs and expenses.
                        Without limitation on the foregoing provisions of this
                        subparagraph (c), Yellow shall control all proceedings
                        taken in connection with such contest and, at its sole
                        option, may pursue or forego any and all administrative
                        appeals, proceedings, hearings and conferences with the
                        taxing authority in respect of such claim and may, at
                        its sole option, either direct the Executive to pay the
                        tax claimed and sue for a refund, or contest the claim
                        in any permissible manner, and the Executive agrees to
                        prosecute such contest to a determination before any
                        administrative tribunal, in a court of initial
                        jurisdiction and in one or more appellate courts, as
                        Yellow shall determine; provided, however, that if
                        Yellow directs the Executive to pay such claim and sue
                        for a refund, Yellow shall advance the amount of such
                        payment to the Executive, on an interest-free basis and
                        shall indemnify and hold the Executive harmless, on an
                        after-tax basis, from any Excise Tax or income tax,
                        including interest or penalties with respect thereto,
                        imposed with respect to such advance or with respect to
                        any imputed income with respect to such advance; and
                        further provided that any extension of the statute of
                        limitations relating to payment of taxes for the taxable
                        year of the Executive with respect to which such
                        contested amount is claimed to be due is limited
                        solely to such contested amount. Furthermore, Yellow's
                        control of the contest shall be limited to issues with
                        respect to which a Gross-Up Payment would be payable
                        hereunder and the Executive shall be entitled to settle
                        or contest, as the case may be, any other issue raised
                        by the Internal Revenue Service or any other taxing
                        authority.

      d)    Repayment. If, after the receipt by the Executive of an amount paid
            or advanced by Yellow pursuant to this Paragraph 6, the Executive
            becomes

<PAGE>

            entitled to receive any refund with respect to such claim, the
            Executive shall (subject to Yellow's complying with the requirements
            of this Paragraph 6), promptly pay to Yellow the amount of such
            refund (together with any interest paid or credited thereon after
            taxes applicable thereto). If, after the receipt by the Executive of
            an amount paid or advanced by Yellow pursuant to this Paragraph 6, a
            determination is made that the Executive shall not be entitled to
            any refund with respect to such claim and Yellow does not notify the
            Executive in writing of its intent to contest such denial of refund
            prior to the expiration of thirty days after such determination,
            then such payment or advance shall be forgiven and shall not be
            required to be repaid and the amount of such payment or advance
            shall offset, to the extent thereof, the amount of Gross-Up Payment
            required to be paid.

      7.    General.

      a)    Arbitration. Any dispute between the parties hereto arising out of,
            in connection with, or relating to this Agreement or the breach
            thereof shall be settled by arbitration in Overland Park, Kansas, in
            accordance with the rules then in effect of the American Arbitration
            Association ("AAA"). Arbitration shall be the exclusive remedy for
            any such dispute except only as to failure to abide by an
            arbitration award rendered hereunder. Regardless of whether or not
            both parties hereto participate in the arbitration proceeding, any
            arbitration award rendered hereunder shall be final and binding on
            each party hereto and judgment upon the award rendered may be
            entered in any court having jurisdiction thereof.

            The party seeking arbitration shall notify the other party in
            writing and request the AAA to submit a list of 5 or 7 potential
            arbitrators. In the event the parties do not agree upon an
            arbitrator, each party shall, in turn, strike an arbitrator from the
            list, the Corporation having the first strike, until only one
            arbitrator remains, who shall arbitrate the dispute. The arbitration
            hearing shall be conducted within 30 days of the selection of an
            arbitrator or at the earliest date thereafter that the arbitrator is
            available.

      b)    Indemnification. If arbitration occurs as provided for herein and
            the Executive is awarded more than the Corporation has asserted is
            due him or otherwise substantially prevails therein, the Corporation
            shall reimburse the Executive for his reasonable attorneys' fees,
            costs and disbursements incurred in such arbitration and hereby
            agrees to pay interest on any money award obtained by the Executive
            from the date payment should have been made until the date payment
            is made, calculated at the prime interest rate of NationsBank, N.A.,
            Kansas City, Missouri, in effect from time to time from the date
            that payment(s) to him should have been made under this Agreement.
            If the Executive enforces the arbitration award in court, the
            Corporation shall reimburse the Executive for his reasonable
            attorneys' fees, costs and disbursements incurred in such
            enforcement.

      c)    Payment Obligations Absolute. Yellow's obligation to pay the
            Executive the compensation and to make the arrangements provided
            herein shall be absolute and unconditional and shall not be affected
            by any circumstance, including, without limitation, any setoff,
            counterclaim, recoupment, defense or other right which the
            Corporation may have against him or anyone else, except as provided
            in paragraph 2 hereof. All amounts payable by Yellow hereunder
            shall be paid

<PAGE>

            without notice or demand. Each and every payment made hereunder by
            Yellow shall be final and Yellow will not seek to recover all or any
            part of such payment from the Executive or from whosoever may be
            entitled thereto, for any reason whatsoever. The Executive shall not
            be obligated to seek other employment in mitigation of the amounts
            payable or arrangements made under any provision of this Agreement,
            and the obtaining of any such other employment shall in no event
            affect any reduction of Yellow's obligations to make the payments
            required to be made under this Agreement.

      d)    Continuing Obligations. The Executive shall retain in confidence any
            confidential information known to him concerning the Corporation and
            its respective businesses until such information is publicly
            disclosed.

      e)    Successors. This Agreement shall be binding upon and insure to the
            benefit of the Executive and his estate and the Corporation and any
            successor of the Corporation, but neither this Agreement nor any
            rights arising hereunder may be assigned or pledged by the
            Executive.

      f)    Severability. Any provision in this Agreement which is prohibited or
            unenforceable in any jurisdiction shall, as to such jurisdiction, be
            ineffective only to the extent of such prohibition or
            unenforceability without invalidating or affecting the remaining
            provisions hereof, and any such prohibition or unenforceability in
            any jurisdiction shall not invalidate or render unenforceable such
            provision in any other jurisdiction.

      g)    Controlling Law. This Agreement shall in all respects be governed by
            and construed in accordance with the laws of the State of Delaware.

      h)    Termination. This Agreement shall terminate if a majority of the
            Continuing Directors determines that the Executive is no longer a
            key executive and so notifies the Executive; except that such
            determination shall not be made, and if made shall have no effect,
            (i) within two years after the Change of Control in question or (ii)
            during any period of time when Yellow has knowledge that any third
            person has taken steps reasonably calculated to effect a Change of
            Control until, in the opinion of a majority of the Continuing
            Directors the third person has abandoned or terminated his efforts
            to effect a Change of Control. Any decision by a majority of the
            Continuing Directors that the third person has abandoned or
            terminated his efforts to effect a Change of Control shall be
            conclusive and binding on the Executive.

<PAGE>

      IN WITNESS WHEREOF, the parties have executed this Agreement on
the________ day of __________, _______.

EXECUTIVE:                                              YELLOW CORPORATION

-----------------------                                 ------------------------

                                                        ATTEST:

                                                        -----------------------

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00047-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00047-of-00352.parquet"}]]