Document:

exh10_1.htm

    Exhibit
10.1

     

    FROZEN
FOOD EXPRESS INDUSTRIES, INC.

     

    2005
NON-EMPLOYEE DIRECTOR RESTRICTED STOCK PLAN

     

    (Amended
and Restated)

     

    1.           PURPOSE.

    The
purposes of the Frozen Food Express Industries, Inc., 2005 Non-Employee Director
Restricted Stock Plan (this "Plan") are to promote the growth and prosperity of
Frozen Food Express Industries, Inc. (the "Company"), to attract and retain the
best available people to serve as independent directors of the Company and to
encourage stock ownership by such directors and thus increase their personal
interest in the Company's success.

     

    2.           ADMINISTRATION.

    (a)           This
Plan shall be administered by a committee (the “Committee”) composed of two or
more members of the Board of Directors of the Company (the "Board") who are not
officers of the Company or any subsidiary of the Company, who are otherwise
qualified as Non-Employee Directors as defined under Rule 16b-3(b)(3)(i) of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Committee
may from time to time prescribe, amend and rescind such rules, regulations,
provisions and procedures, consistent with the terms of this Plan, as may be
advisable in its opinion in the administration of this Plan, and subject to the
terms of this Plan shall prescribe the provisions of the restricted stock
agreements to be issued hereunder and make all other determinations and
interpretations necessary or advisable for administering this Plan and the stock
option agreements.

    (b)           A
majority of the Committee shall constitute a quorum, and the acts of a majority
of the members present at any meeting at which a quorum is present, or acts
approved in writing by all members of the Committee, shall be the acts of the
Committee.  All decisions, determinations and interpretations of the
Committee shall be final and binding on all persons interested in this
Plan.

    

    3.           SHARES
AVAILABLE FOR AWARD UNDER THIS PLAN.

    (a)           The
stock to be subject to awards granted under this Plan shall be shares of the
Company's common stock, par value $1.50 per share (the "Common Stock"), either
authorized and unissued or treasury stock.

    (b)           In
the event of a merger, consolidation, reorganization, recapitalization,
subdivision or any other similar change affecting the stock of the Company, an
appropriate adjustment to reflect any such change shall be made in the total
number and class of shares for which awards may be granted, the number and class
of shares underlying awards to be granted in accordance with Section 4(a), and
the number and class of shares.  Such adjustment shall be as
determined by the Committee; provided, however, that any such computation shall
be rounded to the nearest whole share and no such modification shall require the
issuance of fractional shares.

    (c)           The
total amount of stock reserved for issuance under the Plan in the form of shares
of Restricted Stock shall be 50,000 shares (subject to adjustment in accordance
with Section 3(b)).

    (d)           In
the event any outstanding award for any reason expires, is forfeited, cancelled
or otherwise terminates, the shares allocable to the award shall again be
available for issuance under this Plan.

    (e)           Nothing
in this Plan or in any award granted pursuant to this Plan shall confer on any
individual any right to continue as a director of the Company or interfere in
any way with the removal of such person as a director in accordance with the
Articles of Incorporation and Bylaws.

    

    4.           ELIGIBILITY
AND AWARDS.

    Each
director of the Company who is not at the time of the grant of an award an
officer or employee of the Company or any subsidiary ("Non-Employee Director")
shall be eligible to receive an award of restricted stock under this Plan on the
day of a Non-Employee Director's initial appointment or election (whichever
comes first) to the Board. Annually thereafter, on the day of each annual
meeting of stockholders of the Company that occurs after the date of such
Director’s initial appointment or election to the Board, such individual shall
be eligible to receive an award of restricted stock under this Plan. Each such
date (of appointment, election or the annual stockholders’ meeting) shall be the
“Date of Grant” with respect to an award.  The Committee shall
determine from time to time the number of shares of Restricted Stock to be
issued to an eligible Non-Employee Director.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    5.           VESTING
OF RESTRICTED STOCK.

    Unless
otherwise determined by the Committee and set forth in the Award Agreement, all
shares of Restricted Stock awarded under this Plan shall vest over a period of
three (3) years from the Date of Grant, one-third (1/3) on each anniversary of
the Date of Grant, provided that the Non-Employee Director continues to serve as
such at each vesting date.

     

    If a
Non-Employee Director dies while serving on the Board, the shares of Restricted
Stock theretofore granted to such director shall become fully vested as of the
date of his or her death

     

    6.           TERMS
AND CONDITIONS OF RESTRICTED STOCK.

    Shares of
Restricted Stock may not be sold, assigned, transferred, pledged or otherwise
encumbered, except as hereinafter provided, until vested in accordance with
paragraph 5.  Except for such restrictions, the Non-Employee Director
as owner of such shares shall have all the rights of a stockholder, including
but not limited to the right to vote such shares and, except as otherwise
provided by the Committee, the right to receive all dividends paid on such
shares.

     

    Except as
otherwise determined by the Committee in its sole discretion, a Non-Employee
Director whose service as a director terminates prior to full vesting of the
Restricted Stock shall forfeit all non-vested shares of Restricted Stock
remaining subject to any outstanding Restricted Stock Award.

     

    Each
certificate issued in respect of shares of Restricted Stock awarded under the
Plan shall be registered in the name of the Non-Employee Director and, at the
discretion of the Committee, each such certificate may be deposited in a bank
designated by the Committee.  Each such certificate shall bear the
following (or a similar) legend:

     

    "The
transferability of this certificate and the shares of stock represented hereby
are subject to the terms and conditions (including forfeiture) contained in the
Frozen Food Express Industries, Inc. 2005 Non-Employee Director Restricted Stock
Plan and an agreement entered into between the registered owner and Frozen Food
Express Industries, Inc.  A copy of such plan and agreement is on file
in the office of the Secretary of Frozen Food Express Industries, Inc., 1145
Empire Central Place, Dallas, Texas 75247.”

     

    At each
vesting date, Restricted Stock will be transferred free of all restrictions to a
Non-Employee Director (or his or her legal representative, beneficiary or
heir).

     

    7.           AMENDMENT
AND DISCONTINUANCE.

    The Board
of Directors of the Company (the “Board”) may at any time amend this Plan,
provided that, except as permitted by Section 3(b), no amendment without the
approval of shareholders shall:  (a) increase the total number of
shares of Restricted Stock that may be granted, (b) change the class of persons
eligible to receive shares of Restricted Stock under this Plan, or (c) change
the provisions relating to the administration of this Plan by the
Committee.

     

    The Board
may terminate this Plan at any time but such termination shall not affect shares
of Restricted Stock previously granted.

     

    8.           RESERVATION
OF SHARES.

    During
the term of this Plan, the Company shall at all times reserve and keep
available, and will obtain from any regulatory body having jurisdiction any
requisite authority in order to issue such number of shares of its Common Stock
as shall be sufficient to satisfy the requirements of this
Plan.  Inability of the Company to obtain any authority deemed by the
Company's counsel to be necessary to the lawful issuance of any shares of its
stock hereunder shall relieve the Company of any liability in respect of the
nonissuance of such stock as to which such authority shall not have been
obtained.

     

    9.           SECURITIES
ACT OF 1933.

    Unless
(a) the shares to be issued upon an award have been effectively registered under
the Securities Act of 1933, as now in force or hereafter amended; or (b) in the
opinion of counsel for the Company, no such registration is necessary, the
Company shall be under no obligation to issue any shares covered by any
award.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    10.           SECTION
16.

    With
respect to persons subject to Section 16 of the Exchange Act, transactions under
this Plan are intended to comply with all applicable provisions of Rule 16b-3 or
its successors under the Exchange Act.  To the extent any provision of
this Plan or action by the Committee fails to so comply, it shall be deemed null
and void, to the extent permitted by law and deemed advisable by the
Committee.

     

    11.           EFFECTIVE
DATE; TERM OF PLAN.

    This Plan
was originally effective as of May 5, 2005 and was approved by the holders of a
majority of the stock of the Company present or represented by proxy and
entitled to vote at the first annual meeting of shareholders of the Company
following May 5, 2005.  The Plan is being amended and restated herein
effective upon the date set forth below.  This Plan shall terminate on
May 5, 2015, unless sooner terminated as provided in this Plan.  At
the end of such term, this Plan shall expire except for awards then
outstanding.

     

    IN
WITNESS WHEREOF, Frozen Food Express Industries, Inc., acting by and through its
officer hereunto duly authorized, has executed this instrument, this the 19th
day of November, 2008.

     

    FROZEN
FOOD EXPRESS INDUSTRIES, INC.

    

    By: /s/Stoney M. Stubbs
Jr.

    Name:
Stoney M. Stubbs
Jr.

    Title:
President and Chief
Executive Officerbirdsallcapplanagreement.htm

    Nicor Inc.

    Form 8-K

    Exhibit 10.1

    
 

    AGREEMENT
RESTATING 1984 AND 1985

    NICOR
CAPITAL ACCUMULATION PLAN

    PARTICIPATION
AGREEMENTS

     

    This
Agreement, made and entered into this 20th of November, 2008, by and among NICOR
Inc. (the “Company”), Birdsall Inc. (“Birdsall”), a subsidiary of the Company
and John H. Birdsall III (“Employee”).

     

    WITNESSETH
THAT:

     

    WHEREAS,
Employee and Birdsall are parties to an agreement dated January 1, 1984, which
agreement provides for Employee’s participation in the NICOR Capital
Accumulation Plan for the year ending December 31, 1984 (the “1984
Agreement”);

     

    WHEREAS,
Employee and Birdsall are parties to an agreement dated January 1, 1985, which
agreement provides for Employee’s participation in the NICOR Capital
Accumulation Plan for the year ending December 31, 1985 (the “1985 Agreement”
and along with the 1984 Agreement the “Original Agreements”);

     

    WHEREAS,
by resolution adopted on June 9, 1987 the Compensation Committee of the Board of
Directors of the Company (the “Committee”) approved an amendment to the Original
Agreements pursuant to which Employee’s service as a director of the Company was
deemed to be active service with Birdsall for purposes of the Original
Agreements;

     

    WHEREAS,
by resolution adopted on December 15, 1988, the Board of Directors of the
Company reaffirming the action taken by the Board at its September 1985 meeting
approving an amendment to the Original Agreements which allowed Employee to
retire at or after age 55 and receive the same benefits under the Original
Agreements as if he remained on active service to age 65; and

     

    WHEREAS,
by agreements each dated November 8, 1985, the Original Agreements were amended
to reflect changes to payment under the Original Agreements in the event of a
change in control;

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    WHEREAS,
pursuant to a Fund Transfer Agreement dated October 30, 1985, the Company and
Birdsall agreed that the Company would fund the payments under the Original
Agreements;

     

    WHEREAS,
Employee, the Company and Birdsall desire to restate the Original Agreements to
reflect all prior amendments and the obligations of each of the parties thereto
as in effect on December 31, 2004;

     

    NOW,
THEREFORE, in consideration of the agreements and covenants hereinafter set
forth, and other good and valuable considerations.  IT IS AGREED by
and among the parties hereto that the following be substituted for and in full
replacement of the Original Agreements:

     

    1.     Deferral of
Compensation.  Under the terms of the Original
Agreements:

     

    (a)       Employee
deferred $50,000 of the amount of his base salary earned by him for services
rendered to Birdsall during 1984.

     

    (b)  
    Employee
deferred $63,000 of the amount of his base salary earned by him for services
rendered to Birdsall during 1985.

     

    2.     Fulfillment of Paragraph 2
of Original Agreements.  Employee, Birdsall and the Company
acknowledge and agree that as of December 31, 2004, Birdsall and the Company
have satisfied all obligations under paragraph 2 of the Original
Agreements.

     

    3.     Employee/Retiree Who
Survives to Age 65.  Subject to the provisions of paragraph 12,
if Employee is alive on his 65th
birthday then in addition to benefits to which he received under paragraph 2, he
shall be entitled to benefits under this Agreement as follows:

     

    (a)  
    The
Company will pay to Employee installments of $337,785 per calendar year for the
15 consecutive calendar years beginning on the first business day of January,
2009 and each January of each year thereafter (for a total of $5,066,775 or
$3,285,450 per 1984 Agreement and $1,781,325 per 1985 Agreement).

     

     (b)      If
Employee dies before all or any of his benefits under this paragraph 3 have been
paid to him, his Beneficiary shall receive the benefits at the same time and in
the same amount as would have been paid to Employee if Employee had survived
until all payments to him were completed.

     

    4.     Special Death Benefit
Rule.  Subject to the provisions of paragraph 12, if Employee’s
Board membership with the Company and Affiliates terminates by reason of his
death prior to his 65th
birthday, there shall be no further benefits payable under this
Agreement.

     

    
      
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    5.     Disability.  For
purposes of this Agreement (other than for purposes of paragraph 12), if the
Employee becomes totally and permanently disabled while he is a director, he
will be considered to be a retired director and will be subject to benefits
under paragraph 3, above.

     

    6.     Beneficiary.  The
Employee may, from time to time, by signing a form furnished by the Committee,
designate any legal or natural person or persons (who may be designated
contingently or successively) to whom payments are to be made if he dies before
he receives payment of all amounts due hereunder (“Beneficiary”).  A
beneficiary designation form will be effective only when the signed form is
filed with the Committee while the Employee is alive and will cancel all
beneficiary designation forms filed earlier.  If more than one
Beneficiary has been designated, payments shall be distributed to each such
Beneficiary per capita.  Except as otherwise specifically provided in
this Section 6, if the Employee fails to designate a Beneficiary as provided
above, or if no designated Beneficiary survives the Employee or dies before all
payments due hereunder have been paid, then any remaining payments shall be paid
to the legal representative or representatives of the estate of the last to die
of the Employee and any designated Beneficiary.

     

    7.     Participation Agreement Not
a Trust Fund.  It is specifically agreed by Employee and the
Company that the Company’s obligation to make payments to any person under this
Agreement is purely contractual and that the parties do not intend that the
amounts payable hereunder be held by the Company in trust for Employee or as a
segregated fund.

     

    8.     Affiliates,
Successors.  For purposes of this Agreement, the term
“Affiliate” means any corporation, trade or business during any period that it
is, along with any Employer, a member of a controlled group of corporations or a
controlled group of trades or businesses (as described in sections 414(b) and
(c), respectively, of the Internal Revenue Code of 1986, as
amended).  This Agreement shall be binding on Employee and his heirs
and legal representatives and on the Company and its successors and assigns,
whether by merger, consolidation or the sale of all or substantially all of the
Company’s assets.

     

    9.     Counterparts.  This
Agreement may be executed in two or more counterparts, any one of which shall be
deemed an original without reference to the others.

     

    10.  
    Governing
Law.  The provisions of this Agreement and the rights of the
parties hereunder shall be interpreted and construed in accordance with the laws
of the State of Illinois.

     

    11.  
    Change in Control
Benefit.  Notwithstanding any of the foregoing provisions of
this Agreement, following a Change in Control (as defined below) the employer
shall pay to the Employee in a lump sum an amount equal to:

     

    (a)           first,
increase the amount actually deferred under paragraph 1 of this Agreement with
interest at the rate of 20% per year for the period between the date of the
Original Agreements and the date payment was made under paragraph 2 of the
Original Agreements;

     

    
      
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    (b)           next
reduce the amount determined in accordance with paragraph 11(a) by any amounts
previously paid under paragraph 2 of this Agreement; and

     

    (c)           next,
increase the amount determined in accordance with paragraph 11 (b) with interest
at the rate of 20% per year for the period between the date of payment under
paragraph 2 of this Agreement and the date of payment under this paragraph
11.

     

    For
purposes of this paragraph 11, interest shall be compounded on the first day of
each calendar year with no adjustment for a partial year.  If the
Employee becomes entitled to payment under this paragraph 11, no further payment
shall be made to him or on his behalf under paragraphs 5 or 6 of this Agreement.
For purposes of this Agreement, “Change in Control” means the occurrence of a
“change in the ownership,” a “change in the effective control” or a “change in
the ownership of a substantial portion of the assets” of the
Company.  In determining whether an event shall be considered a
“change in the ownership,” a “change in the effective control” or a “change in
the ownership of a substantial portion of the assets” of an entity, the
following provisions shall apply:

     

    
      	
               
      

            	
              (1)

            	
              A
      “change in the ownership” of the Company shall occur on the date on which
      any one person, or more than one person acting as a group (within the
      meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of
      1934, as amended (a  “Person”)), acquires ownership of the
      equity securities of the Company that, together with the equity securities
      held by such Person, constitutes more than 50% of the total fair market
      value or total voting power of the Company, as determined in accordance
      with Treas. Reg. §1.409A-3(i)(5)(v).  If a Person is considered
      either to own more than 50% of the total fair market value or total voting
      power of the equity securities of the Company, or to have effective
      control of the Company within the meaning of subsection 11(2), and such
      Person acquires additional equity securities of the Company, the
      acquisition of additional equity securities by such Person shall not be
      considered to cause a “change in the ownership” of the
      Company.

            

    

     

    
      	
               
      

            	
              (2)

            	
              A
      “change in the effective control” of the Company shall occur on either of
      the following dates:

            

    

     

    (i)           The
date on which any Person, acquires (or has acquired during the 12-month period
ending on the date of the most recent acquisition by such Person) ownership of
stock of the Company possessing 30% or more of the total voting power of the
Company’s equity securities, as determined in accordance with Treas. Reg.
§1.409A-3(i)(5)(vi).  If a Person is considered to possess 30% or more
of the total voting power of the Company’s equity securities, and such Person
acquires additional stock of the Company, the acquisition of additional

     

    
      
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      stock by
such Person shall not be considered to cause a “change in the effective control”
of the Company; or

    

     

    (ii)           The
date on which a majority of the members of the Board is replaced during any
12-month period by directors whose appointment or election is not endorsed by a
majority of the members of the Board before the date of the appointment or
election, as determined in accordance with Treas. Reg.
§1.409A-3(i)(5)(vi).

     

    
      	
               
      

            	
              (3)

            	
              A
      “change in the ownership of a substantial portion of the assets” of the
      Company shall occur on the date on which any one Person acquires (or has
      acquired during the 12-month period ending on the date of the most recent
      acquisition by such Person) assets from the Company that have a total
      gross fair market value equal to or more than 40% of the total gross fair
      market value of all of the assets of the Company immediately before such
      acquisition or acquisitions, as determined in accordance with Treas. Reg.
      §1.409A-3(i)(5)(vii).  A transfer of assets shall not be treated
      as a “change in the ownership of a substantial portion of the assets” when
      such transfer is made to an entity that is controlled by the holders of
      the Company’s equity securities, as determined in accordance with Treas.
      Reg. §1.409A-3(i)(5)(vii)(B).

            

    

     

    
      	
               
      

            	
              (4)

            	
              Notwithstanding
      the foregoing, the following acquisitions shall not constitute a Change in
      Control: (i) an acquisition by the Company or entity controlled by the
      Company, or (ii) an acquisition by an employee benefit plan (or related
      trust) sponsored or maintained by the Company or any entity controlled by
      the Company.

            

    

     

    
      	
               
      

            	
              (5)

            	
              For
      purposes of this Subsection 11, (i) the term “Company” shall mean Nicor
      Inc. and shall include any Successor to Nicor Inc.; and (ii) the term
      “Successor to Nicor Inc.” shall mean any corporation, partnership, joint
      venture or other entity that succeeds to the interests of Nicor Inc. by
      means of a merger, consolidation or other restructuring that does not
      constitute a Change in Control.

            

    

     

    12. 
     Amendment of
Agreement.  With the approval of the Committee, this Agreement
may be amended by writing signed by the parties hereto.

     

    13.  
    Restated
Agreement.  This Agreement constitutes an amendment restatement
and continuation of the Original Agreements, and supersedes the Original
Agreements.

     

    14.  
    409A.

     

    (a)           To
the extent applicable, the Agreements shall be interpreted in accordance with
Section 409A of the Code and Department of Treasury regulations and other
interpretive guidance issued thereunder.  If the Committee determines
that any amounts payable under the Agreements do not comply with 

     

    
      
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    Section
409A of the Code and related Department of Treasury guidance, the Committee
shall amend the Agreements or take such other actions as it deems necessary or
appropriate to comply with the requirements of Section 409A of the Code while
preserving the economic agreement of the parties.

     

    (b)          
Any other provision of the Agreements to the contrary notwithstanding, in the
event that the IRS prevails in its claims that amounts payable under the
Agreements constitute taxable income to the Employee or his Beneficiary for any
taxable year of his, prior to the taxable year in which such payments are to be
made to the Employee or his Beneficiary, or in the event that legal counsel
satisfactory to the Employer and the Employee or Beneficiary renders an opinion
that the IRS would likely prevail in such a claim, the amount subject to such
income tax shall be immediately distributed to the Employee or
Beneficiary.”

     

    IN
WITNESS WHEREOF, the Employee and an authorized representative of the Committee
have hereunto set their hands, and the Company has caused these presents to be
executed by its officers and its corporate seal to be hereunto affixed and
attested, all as of the day and year first above written.

     

    

                                                      /s/ JOHN
H. BIRDSALL III      
                               

                        Employee

     

     

                        Birdsall
Inc.

     

                        By:    /s/ RUSS M.
STROBEL                                            

                        Its:    Chairman and
President                                
           

     

     

                        NICOR
Inc.

     

                        By:    /s/ RUSS M.
STROBEL                                            

                        Its:    Chairman, Chief
Executive Officer and President 

     

    
      
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