Document:

<PAGE>
                                                                    Exhibit 4.14

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

                              AMENDED AND RESTATED

                      COMMON AND PREFERRED STOCK PURCHASE

                                      AND

                            SHAREHOLDERS' AGREEMENT

                                     among

                          BT INVESTMENT PARTNERS, INC.,
                          MTL EQUITY INVESTORS, L.L.C.,
                         APOLLO INVESTMENT FUND III, LP.
                       APOLLO OVERSEAS PARTNERS III, L.P.
                           APOLLO U.K. FUND III, L.P.

                                      AND

                                    MTL INC.

                           Dated as of August 28,1998

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

<PAGE>
                                 INDEX OF TERMS

<TABLE>
<S>                                                                       <C>
Acceptance Period ....................................................    11
Accredited Investor ..................................................     4
AMENDMENT ............................................................     2
Appollo ..............................................................     5
Appollo Entities .....................................................     1
BT Partners ..........................................................     1
Capital Stock ........................................................     1
Commission ...........................................................     2
Common Stock .........................................................     1
Company ..............................................................     1
Drag-Along Grantees ..................................................     5
Drag-Along Notice ....................................................     5
Equity LLC ...........................................................     1
Management Shareholders Agreement ....................................     8
Offered Securities ...................................................    11
Palestra .............................................................     2
Permitted Transfer ...................................................     5
Preemptive Notice ....................................................    11
Preemptive Right .....................................................    11
Preferred Stock ......................................................     1
Proposed Issuance ....................................................    11
PURCHASE AGREEMENT ...................................................     2
Purchase Notice ......................................................    12
Tag-Along Notice .....................................................     6

</TABLE>
<PAGE>

                               TABLE OF CONTENTS

<TABLE>
<S>                                                                                            <C>
ARTICLE I ...................................................................................  1
 1.1. Purchase Price ........................................................................  1
 1.2. Representations by Purchasers .........................................................  2
 1.3. Brokers or Finders ....................................................................  4
 1.4. Representations by Sell ...............................................................  4
 1.5. Restrictions on Transfer ..............................................................  5

ARTICLE II...................................................................................  5

ARTICLE III .................................................................................  6

ARTICLE IV...................................................................................  7

ARTICLE V ...................................................................................  9

 5.1. Definitions............................................................................  9
 5.2. Designated Actions and Irrevocable Proxy............................................... 10
 5.3. Termination............................................................................ 11

ARTICLE VI ..................................... ............................................ 11

ARTICLE VII ................................................................................. 12

 7.1. Assignment  ........................................................................... 12
 7.2. Entire Agreement ...................................................................... 13
 7.3. Notices ............................................................................... 13
 7.4. Waivers: Amendments ................................................................... 14
 7.8. Applicable Law: Submission to Jurisdiction ............................................ 15
 7.9. Severability .......................................................................... 16
 7.10. Certain Definitions .................................................................. 16
 7.11. Termination .......................................................................... 16
</TABLE>

<PAGE>

                 AMENDED AND RESTATED COMMON AND PREFERRED STOCK

                      PURCHASE AND SHAREHOLDERS' AGREEMENT

         Agreement dated as of this 28th day of August, 1998 among BT Investment
Partners, Inc., a Delaware corporation ("BT Partners"), MTL Equity Investors,
L.L.C., a Delaware limited liability company ("Equity LLC," and together with BT
Partners, the "Purchasers"), Apollo Investment Fund III, L.P., Apollo Overseas
Partners III, L.P., and Apollo U.K. Fund III, L.P. (collectively, the "Apollo
Entities") and MTL Inc., a Florida corporation ("Seller" or the "Company").

                WHEREAS, the parties hereto have previously entered into a
Common Stock Purchase and Shareholders' Agreement dated as of the 9th day of
June, 1998 (the "Original Agreement");

                WHEREAS, the Purchasers and Sellers desire to amend the Original
Agreement to provide for the purchase from Seller, and the sale to the
Purchasers, of certain additional newly issued shares of common stock, par value
$.01 per share (the "Common Stock") of the Company and certain newly issued
shares of 13.75% senior exchangeable preferred stock, $.01 par value per share
(the "Preferred Stock" and collectively with the Common Stock, the "Capital
Stock") of the Company, all upon the terms and conditions hereinafter set forth.

         NOW, THEREFORE, the parties hereto agree as follows:

                                   ARTICLE I

                       PURCHASE, SALE AND TERMS OF SHARES

1.1. Purchase Price

         Seller has sold to the Purchasers pursuant to the Original Agreement
the number of original shares of Common Stock (the "Original Shares") set forth
opposite each Purchaser's name on Annex I hereto, and Seller agrees to sell, and
each Purchaser agrees to purchase from Seller, the number of additional newly
issued shares of Common Stock ("Additional Common Shams") and the number of
newly issued shares of Preferred Stock ("Preferred Shares") set forth opposite
such Purchaser's name on Annex I here (together with the Original Shares, the
"Purchased Shares") at the respective purchase prices set forth in such Annex I.
The aggregate purchase price of Purchased Shares owned or being acquired by the
Purchasers is $2,743,920, of which amount Purchasers have previously paid
$2,400,000 for the Original Shares. At the closing of the Merger (as defined
below), Seller will deliver to each Purchaser newly issued certificates for the
Additional Common Shares and the Preferred Shares. The delivery of the
certificates for the Additional Common Shares and the Preferred Shares shall be
made against delivery

<PAGE>

of a check or checks payable to the order of Seller (or as directed by Seller),
or a transfer of funds to the account of Seller (or as directed by Seller) by
wire transfer, representing the aggregate purchase price for the Additional
Common Shares and the Preferred Shares, as payment in full of the purchase price
of such shares. Such delivery or transfer shall be conditioned upon the
consummation of the transactions contemplated by the Merger Agreement dated as
of June 23,1998 among Palestra Acquisition Corp. ("Palestra"), Chemical Leaman
Corporation ("CLC") and the shareholders of CLC, as amended on July 27, 1998 and
August 25, 1998, providing for the merger of Palestra with and into CLC (the
"Merger").

1.2. Representations by Purchasers

         (a)      Investment Representations.

         Each Purchaser represents that it is its present intention to acquire
the Additional Common Shares and Preferred Shares for its own account (and it
will be the sole beneficial owner thereof) and that the Purchased Shares have
been, are being and will be acquired by it for the purpose of investment and not
with a view to distribution or resale thereof except pursuant to registration
under the Securities Act of 1933, as amended (the "Securities Act") or exemption
therefrom. The acquisition by each Purchaser of the Purchased Shares shall
constitute a confirmation of this representation by each Purchaser. Each
Purchaser further represents that it understands and agrees that, until
registered under the Securities Act, or transferred pursuant to the provisions
of Rule 144(k) as promulgated by the Securities and Exchange Commission (the
"Commission', all certificates evidencing any of the Purchased Shares, whether
upon initial issuance or upon any transfer thereof, shall bear a legend,
prominently stamped or printed thereon, reading substantially as follows:

         "THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE
SECURITIES LAWS. THESE SECURITIES ARE SUBJECT TO THE TRANSFER RESTRICTIONS SET
FORTH IN THE COMMON STOCK PURCHASE AND SHAREHOLDERS' AGREEMENT DATED AS OF JUNE
9,1998, AMONG BT INVESTMENT PARTNERS, INC., MTL EQUITY INVESTORS, L.L.C., APOLLO
INVESTMENT FUND III, L.P., APOLLO OVERSEAS PARTNERS III, L.P., APOLLO U.K. FUND
III, L.P. AND MTL INC. (THE "PURCHASE AGREEMENT"), AS AMENDED AND RESTATED ON
AUGUST 28, 1998 ("AMENDMENT"). THESE SECURITIES HAVE BEEN ACQUIRED FOR
INVESTMENT AND NOT WITH A VIEW TO DISTRIBUTION OR RESALE. THESE SECURITIES MAY
NOT BE OFFERED FOR SALE, SOLD, DELIVERED AFTER SALE, TRANSFERRED, PLEDGED OR
HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT COVERING SUCH
SECURITIES UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS,
OR THE AVAILABILITY, IN THE OPINION OF COUNSEL, OF AN EXEMPTION FROM
REGISTRATION THEREUNDER. A COPY OF THE

                                       2

<PAGE>

PURCHASE AGREEMENT AND AMENDMENT MAY BE OBTAINED FROM THE SECRETARY OF THE
COMPANY UPON REQUEST."

         (b)      Access to Information.

         Each Purchaser or its representative during the course of this
transaction, and prior to the purchase of any Purchased Shares, has had the
opportunity to ask questions of and receive answers from management of the
Company concerning the terms and conditions of the offering of the Purchased
Shares and documents, records, books, assets, financial condition, results of
operations and liabilities (contingent or otherwise) of the Company.

         (c)      General Access.

         Each Purchaser or its representative has received and read or reviewed,
and is familiar with, this Agreement and the other agreements executed or
delivered herewith, including the terms of the Purchased Shares, and confirms
that all documents, records and books pertaining to such Purchaser's investment
in the Company and requested by such Purchaser or its representative have been
made available or delivered to it.

         (d)      Sophistication and Knowledge.

         Each Purchaser or its representative has such knowledge and experience
in financial and business matters that it is capable of evaluating the merits
and risks of the purchase of the Purchased Shares. Each Purchaser can bear the
economic risks of this investment and can afford a complete loss of this
investment.

         (e)      Transfer Restrictions Imposed by Securities Laws.

         Each Purchaser understands that the Purchased Shares have not been
registered under the Securities Act and applicable state securities laws, and,
therefore, cannot be resold unless they are subsequently registered under the
Securities Act and applicable state securities laws unless they are subsequently
registered under the Securities Act and applicable state laws or unless an
exemption from such registration is available; each Purchaser is and must be
purchasing the Purchased Shares for investment for the account of such Purchaser
and not for the account or benefit of others, and not with any present view
toward resale or other distribution thereof. Each Purchaser agrees not to resell
or otherwise dispose of all or any part of the Shares purchased by it, except as
permitted by law and only in accordance with the express provisions of this
Agreement. The Company does not have any present intention and is under no
obligation to register the Purchased Shares under the Securities Act or
applicable state securities laws.

                                       3

<PAGE>

         (f)      Lack of Liquidity.

         Each Purchaser has no present need for liquidity in connection with its
purchase of the Purchased Shares.

         (g)      Suitability and Investment Objectives.

         The purchase of the Purchased Shares by each Purchaser is consistent
with the general investment objectives of such Purchaser. Each Purchaser
understands that the purchase of the Purchased Shares involves a high degree of
risk and there may be no established market for the Company's capital stock.

         (h)      Accredited Investor Status.

         Each Purchaser represents that it is, and Equity LLC represents that
each of its members is; an ' :Accredited Investor" as that term is defined in
Rule 501 of Regulation D promulgated under the Securities Act.

1.3.     Brokers or Finders

         Each Purchaser represents that no Person has or will have, as a result
of the transactions contemplated by this Agreement, any right, interest or valid
claim against or upon the Company for any commission, fee or other compensation
as a finder or broker because of any act or omission by such Purchaser or its
respective agents.

1.4.     Representations by Seller

         (a)      Ownership.

         Upon the effectiveness of the transfers contemplated herein, each
Purchaser will own the Purchased Shares free and clear of all liens, charges,
encumbrances, pledges or other security interests.

         (b)      Court Orders.

         (c)      Capitalization

         Immediately following the consummation of the transaction contemplated
by the Merger, Sellers authorized capital will consists of (i) 15,000,000

                                       4

<PAGE>

shares of Common Stock of which 2,000,000 shares will be issued and outstanding
(excluding any shares to be issued under Company option plans or any employment
agreements) and (ii) 5,000,000 shares of preferred stock, $.O1 par value, of
which 155,000 shares will be issued and outstanding.

1.5.     Restrictions on Transfer

         Whether or not permitted under the Securities Act, no Purchased Shares
may be pledged, hypothecated, sold, transferred or otherwise disposed of, except
as expressly provided in this Agreement, by will or by the laws of descent and
distribution. Each Purchaser agrees not to distribute the Purchased Shares to
its members or shareholders, as the case may be, except as may be required by
law. In case of a transfer of any of the Purchased Shares pursuant to the
foregoing, the transferee must execute an agreement to be bound by provisions of
this Agreement as if he were an original party hereto. The foregoing
restrictions shall not prohibit sales by any Purchaser (a "Permitted Transfer")
to the Company or an Apollo Entity or an affiliate thereof (collectively,
"Apollo").

                                   ARTICLE II

                                DRAG-ALONG RIGHT

         (a) If Apollo (the "Drag-Along Grantees") transfer to any person or
persons (other than an affiliate thereof ), pursuant to a stock sale, merger or
otherwise, shares of Capital Stock then held by such Drag-Along Grantees,
Drag-Along Grantees shall be entitled, at their option, to require each
Purchaser to sell an Article II Equivalent Portion (as defined) of all Common
Stock (in the event Apollo proposed to transfer Common Stock) and/or Preferred
Stock (in the event Apollo has proposed to transfer Preferred Stock) held by
such Purchaser, by providing each Purchaser with written notice ("Drag-Along
Notice") at least fifteen days prior to consummation of the proposed
transaction, setting forth in reasonable detail the material terms and
conditions of the proposed transaction or offering, and the price per share at
which each Purchaser shall be required to sell its shares of Preferred and/or
Common Stock, as the case may be (which price per share shall be equal to the
same price per share that Drag-Along Grantees shall receive pursuant to the
proposed transaction). An "Article II Equivalent Portion" shall mean with
respect to each Purchaser (i) in the case of Common Stock, that portion of all
shares of Common Stock then held by such Purchaser expressed as a fraction where
the numerator equals the number of shares of Common Stock proposed to be sold by
Drag-Along Grantees pursuant to the Drag-Along Notice and the denominator equals
all shares of Common Stock held by the Drag-Along Grantees and (ii) in the case
of Preferred Stock, that portion of shares of Preferred Stock then held by such
Purchaser expressed as a fraction where the numerator equals the number of
shares of Preferred Stock proposed to be sold by the Drag-Along Grantees
pursuant to the Drag-Along Notice and the denominator equals all shares of
Preferred Stock held by the Drag-Along Grantees.

                                       5

<PAGE>

         (b) At the closing of the proposed transaction (notice of the date,
place and time of which shall be designated by Drag-Along Grantees and provided
to each Purchaser in writing at least five business days prior thereto), each
Purchaser shall deliver certificates evidencing the shares of Capital Stock to
be sold by such Purchaser, duly endorsed for transfer to the proposed
transferee, against the purchase price therefor. Such shares of Capital Stock
shall be delivered free and clear of all liens, charges, encumbrances and other
security interests. Drag-Along Grantees shall have no liability or obligation to
deliver the purchase price payable pursuant to this Article II, except to the
extent that Drag-Along Grantees receive the consideration thereof from the
proposed purchaser. All consideration payable pursuant to this Section shall be
payable in the same form as the consideration received from the Purchaser,
provided. that each Purchaser shall not be required pursuant to the terms of
such sale to accept any consideration that would cause such Purchaser to have a
Regulatory Problem. In case of a potential Regulatory Problem, the Drag Along
Grantees may, at their option, elect to pay or cause to be paid to such
Purchaser the cash equivalent of the consideration payable pursuant to this
Article II, as determined in good faith by the Drag Along Grantees, in lieu of
the consideration offered by the offeree. For purposes hereof, a "Regulatory
Problem" shall mean, with respect to any Person, any set of facts, events or
circumstances the existence of which would cause such Person to believe that
there is a substantial risk of assertion by a governmental entity (which belief
shall be based on an opinion of counsel) that such Person is or would be in
violation of the Bank Holding Company Act of 1956, as amended by Regulation Y
promulgated thereunder.

         (c) A Drag-Along Grantee may assign its rights pursuant to this Article
II to Seller or any affiliate or successor of Seller.

                                  ARTICLE III

                                TAG-ALONG RIGHT

         (a) From and after the time the Threshold (as defined below) has been
reached, and to the extent in excess thereof, if Apollo transfers to any person
or persons (other than an affiliate thereof) shares of Capital Stock, then (i)
at least fifteen business days prior to the consummation of the proposed
transaction Apollo shall give written notice ("Tag-Along Notice") setting forth
in reasonable detail the material teens and conditions of the proposed transfer,
the number of shares of Common and/or Preferred Stock to be sold and the price
per share at which Apollo is selling and (ii) each Purchaser shall have the
right to include an Article III Equivalent Portion (as defined) of all Common
Stock (in the event Apollo proposed to transfer Common Stock) and/or Preferred
Stock (in the event Apollo has proposed to transfer Preferred Stock) held by
such Purchaser in the proposed transaction by providing a written notice of
exercise to the Apollo Entities at any time on or before five business days
following delivery of the Tag-Along Notice to such Purchaser. An "Article III
Equivalent Portion" shall mean with respect to each Purchaser (i) in the case of
Common Stock, that portion of all shares of Common Stock then held by such
Purchaser expressed as a fraction where the

                                       6

<PAGE>

numerator equals the number of shares of Common Stock proposed to be sold by
Apollo pursuant to the Tag-Along Notice and the denominator equals all shares of
Common Stock then held by Apollo and (ii) in the case of Preferred Stock, that
portion of shares of Preferred Stock then held by such Purchaser expressed as a
fraction where the numerator equals the number of shares of Preferred Stock
proposed to be sold by Apollo pursuant to the Tag-Along Notice and the
denominator equals all shares of Preferred Stock then held by Apollo.

         (b) At the closing of the proposed transaction (notice of the date,
place and time of which shall be designated by the Apollo Entities and provided
to each Purchaser in writing at least five business days prior thereto), each
Purchaser shall deliver certificates evidencing the shares of Common Stock owned
by such Purchaser, duly endorsed for transfer to the proposed purchaser, against
delivery of the purchase price therefor. Such shares of Common Stock shall be
delivered free and clear of all liens, charges, encumbrances and other security
interests. Apollo shall not have any liability or obligation to deliver the
purchase price payable pursuant to this Section, except to the extent that
Apollo receives the consideration thereof from the proposed purchaser. All
consideration payable pursuant to this Section shall be payable in the same form
as the consideration received from each Purchaser.

                                   ARTICLE IV

                            INCIDENTAL REGISTRATION

         (a) From and after the time the Threshold has been reached, and to the
extent in excess thereof, if the Company at any time proposes to register any
Capital Stock under the Act for sale to the public for the account of Apollo
(except with respect to registration statements on a form which is not available
for registering Capital Stock for sale to the public), each such time it will
give at least ten days prior written notice to each Purchaser of its intention
so to do including the number of shares of Common and/or Preferred Stock
proposed to be registered by Apollo. Upon the written request of any such
Purchaser, received by the Company within five days after the giving of any such
notice by the Company, to register up to its Article IV Equivalent Portion (as
defined) of Common Stock (in the event the Company has proposed to register
Common Stock for the account of Apollo) and/or Preferred Stock, (in the event
the Company has proposed to register Preferred Stock for the account of Apollo)
held by such Purchaser (which request shall state the intended method of
disposition thereof), the Company will use all commercially reasonable efforts
to cause the shares of Common and/or Preferred Stock, as applicable, as to which
registration shall have been so requested to be included in the securities to be
covered by the registration statement proposed to be filed by the Company, all
to the extent requisite to permit the sale by such Purchaser (in accordance with
its written request) of such shares of Common and/or Preferred Stock so
registered. Alternatively, the Company may, in its sole discretion, include such
shares of Common or Preferred Stock in a separate registration statement to be
filed concurrently with the registration statement for the account of Apollo to
be filed by the Company. In the event

                                       7

<PAGE>

that any registration pursuant to this Article IV shall be, in whole or in part,
an underwritten public offering of shares of Common and/or Preferred Stock, the
number of shares of Common and/or Preferred Stock to be included in such an
underwriting may be reduced (pro rata among the requesting Purchasers and Apollo
based upon the number of shares of Common Stock (in the event the Company has
proposed to register Common Stock for the account of Apollo) and/or Preferred
Stock (in the event the Company has proposed to register Preferred Stock for the
account of Apollo), owned by such Purchasers and Apollo) due to (i) the
provisions of any registration rights or similar agreement between the Company
and any Apollo Entity or between the Company and any management shareholders (it
being understood that the Apollo Entities and certain management shareholders
shall have pro rata rights with respect to incidental registration rights
pursuant to (x) the registration rights agreement by and among the Company and
the Apollo Entities, dated the date hereof, and (y) that certain shareholders
agreement, dated as of February 10,1998, among the Company, certain management
shareholders and the Apollo Entities (the "Management Shareholders' Agreement")
or (ii) underwriter market limitations if, and to the extent, that the managing
underwriter advises the Company that in its opinion such inclusion would
adversely affect the marketing of the securities to be sold by the Company
therein. In addition, if the managing underwriter so advises, for any reason,
against the inclusion of all or any portion of shares or Common and/or Preferred
Stock owned by Purchasers in a public offering, then the Purchasers shall only
have the right to register shares of Common and/or Preferred Stock therein as so
advised by the managing underwriter. An "Article IV Equivalent Portion" shall
mean with respect to each Purchaser (i) in the case of Common Stock, that
portion of shares of Common Stock then held by such Purchaser expressed as a
fraction where the numerator equals the number of shares of Common Stock
proposed to be registered by Apollo pursuant to the notice contemplated by this
paragraph (a) and the denominator equals all shares of Common Stock, then held
by Apollo and, (ii) in the case of Preferred Stock, that portion of shares of
Preferred Stock then held by such Purchaser expressed as a fraction where the
numerator equals the number of shares of Preferred Stock proposed to be
registered by Apollo pursuant to the notice contemplated by this paragraph (a)
and the denominator equals all shares of Preferred Stock, then held by Apollo.

         (b) In connection with each registration pursuant to paragraph (a)
covering a Public Offering, each Purchaser selling any stock pursuant thereto
agrees to (i) enter into a written agreement with the managing underwriter under
the same terns and conditions as apply to the Company or the selling
shareholders, as applicable, or as is otherwise customary in offerings of this
type and (ii) furnish to the Company in writing such information with respect to
themselves and the proposed distribution by them as reasonably shall be
necessary and shall be requested by the Company in order to comply with federal
and applicable state securities laws.

         (c) If, at any time after giving notice of its intention to register
any stock pursuant to this Article N and prior to the effective date of the
registration statement filed in connection with such registration, the Company
and/or Apollo shall determine for any reason not to register any such stock, the
Company shall give written notice to the Purchasers and, thereupon, shall be
relieved of its obligation to register any shares of

                                       8

<PAGE>

stock in connection with such registration. If the number of shares to be
registered by Apollo is changed, the Article IV Equivalent Proportion shall be
appropriately adjusted.

         (d) All expenses incurred by the Company in complying with this Article
IV, including, without limitation, all registration and filing fees, printing
expenses, fees and disbursements of counsel and independent public accountants
for the Company, fees and expenses (including counsel fees) incurred in
connection with complying with state securities or "blue sky" laws, fees of the
National Association of Securities Dealers, Inc., transfer taxes, fees of
transfer agents and registrars and costs of insurance, but excluding any Selling
Expenses, are herein referred to as "Registration Expenses." "Selling Expenses"
as used herein mean all underwriting discounts and selling commissions
applicable to the sale of Shares.

         The Company will pay all Registration Expenses in connection with each
registration statement under this Article IV. All Selling Expenses in connection
with each registration statement under this Article IV shall be borne by the
participating sellers of shares of stock in proportion to the number of shares
sold by each, or by such participating sellers of shares of stock other than the
Company (except to the extent the Company shall be a seller of shares of Common
Stock) as they may agree. In addition, the participating Purchasers shall be
responsible for fees and disbursements of their counsel.

                                   ARTICLE V

                                  VOTING PROXY

5.1.     DEFINITIONS

         (a) "Designated Actions" means (i) the voting of any Common Stock and
any action to be taken -with respect to a matter properly brought before the
stockholders of the Company holding shares of Common Stock, including without
limitation the election of members of the Board of Directors of the Company,
(ii) any action to be taken by any Holder in its capacity as a stockholder of
the Company under this Agreement, including without limitation any consent or
waiver relating to this Agreement and (iii) all actions taken in connection with
any of the actions referred to in clauses (i) and (ii) above.

         (b) "Designated Shareholders" means each Purchaser and each Person to
whom the Common Stock of such Purchaser are sold or transferred pursuant to the
first two sentences of Section 1.5 above.

         (c)      "Proxyholder" means Joshua J. Harris or any additional or
successor Proxyholder as may be appointed by the Apollo Entities by written
notice to the Purchasers and the Company.

                                       9

<PAGE>

5.2.     DESIGNATED ACTIONS AND IRREVOCABLE PROXY

         (a) Each Designated Shareholder, so long as he, she or it owns any
Capital Stock, hereby agrees to take all Designated Actions in the manner that
the Proxy holder, in his sole and absolute discretion, shall direct, at any
annual or special meeting of stockholders of the Common Stock, at any and all
adjournments thereof, and on any other occasion in respect of which the consent
of such Designated Shareholder with respect to his, her or its shares of Capital
Stock may be given or may be requested or solicited by the Company or any other
Person, whether at a meeting, pursuant to the execution of a written consent,
under the Purchase Agreement or otherwise, for all purposes in connection with
any Designated Action, and such Designated Shareholder hereby ratifies and
confirms all that such Proxy holder may do by virtue hereof.

         (b) For purposes of effecting any Designated Action, each Designated
Shareholder does hereby irrevocably constitute and appoint the Proxyholder, his,
her or its true and lawful attorney, agent and proxy for and in his, her or its
name, place and stead, with the exclusive right to take all Designated Actions,
in such Proxyholder's sole and absolute discretion, at any annual or special
meeting of stockholders of the Company, at any and all adjournments thereof, and
on any other occasion in respect of which the consent of such Designated
Shareholder may be given or may be requested or solicited by the Company or any
other Person, whether at a meeting, pursuant to the execution of a written
consent, under the Purchase Agreement or otherwise, for all purposes in
connection with any Designated Action, and such Designated Shareholder hereby
ratifies and confirms all that the Proxyholder may do by virtue hereof. Each
Designated Shareholder agrees with the Proxyholder that, without the prior
written consent of the Proxyholder, he, she or it will not, so long as this
Agreement shall be in effect with respect to any such Designated Shareholder,
take any Designated Action, appoint any person other than the Proxyholder as
his, her or its attorney, agent or proxy with respect to such shares of Capital
Stock, or take any action inconsistent with the appointment of the Proxyholder
as his, her or its lawful attorney, agent and proxy, or the exercise by the
Proxyholder of the powers granted to him, hereunder.

         (c) The parties hereto agree that, in taking or giving directions for
the taking of any Designated Action or in otherwise acting hereunder, the
Proxyholder shall have no responsibility in respect of the management of the
Company by directors for whom he shall have voted or FOR ANY ACTION TAKEN by any
such directors or for any action taken pursuant to any consent given or vote
cast by him or other action taken by him, and the Proxyholder's powers herein
shall be discretionary and any of them may be exercised from time to time when
he sees fit and without leave of any court or any other Person and the
Proxyholder may refrain from exercising any powers or rights from time to time
as he sees fit in each case irrespective of any relationship that the
Proxyholder or any of his Affiliates may have with any of the parties hereto
otherwise than pursuant to this Agreement.

                                       10

<PAGE>

         (d) The powers granted pursuant to this Section 5.2, and the proxy
granted pursuant hereto, are coupled with an interest and shall be irrevocable
during the term of this Article V.

53.      Termination

         The agreements contained in this Article V shall terminate and be of no
further force and effect as of the earlier of (i) tenth anniversary of the date
hereof and (ii) the termination of this Agreement as contemplated by Section
7.11 below.

                                   ARTICLE VI

                               PREEMPTIVE RIGHTS

         (a) In the event that the Company proposes to issue (a "Proposed
Issuance") any Common Stock and/or Preferred Stock to Apollo, other than
pursuant to the exceptions specified in paragraph (b) below, the Company shall
deliver a notice, with respect to such Proposed Issuance (the "Preemptive
Notice"), to each Purchaser setting forth the period of time within which the
Preemptive Right must be exercised (the "Acceptance Period") and the price,
terms and conditions of the Proposed Issuance. Each Purchaser shall have the
right (the "Preemptive Right"), exercisable as hereinafter provided, to
participate in such issuance of Common Stock and/or Preferred Stock, as
applicable, ("Offered Securities") on a pro rata basis in accordance with the
respective aggregate number of shares of Common Stock and/or Preferred Stock
held by such Purchaser on the date of such notice from the Company by purchasing
an amount of such Common Stock, in the event Common Stock is being issued to
Apollo, and/or Preferred Stock, in the event Preferred Stock is being issued to
Apollo, equal to the number of shares of Common Stock and/or Preferred Stock, as
applicable, to be sold to Apollo pursuant to the Proposed Issuance multiplied by
a fraction, the numerator of which shall be the aggregate number of shares of
Common Stock or Preferred Stock, as the case may be, owned by such Purchaser on
the date of such notice and the denominator of which shall be the total number
of shares of Common Stock or Preferred Stock, as the case may be, outstanding on
such date, such purchase to be at the same price and on the same terms and
conditions as the Proposed Issuance. The number of shares of Common Stock and/or
Preferred Stock to be sold to Apollo pursuant to the Proposed Issuance shall be
calculated after first taking into account the effect of the preemptive rights
granted by the Company to certain management shareholders pursuant to the
Management Shareholders Agreement.

         (b) Anything to the contrary notwithstanding, the Preemptive Rights
provided for herein shall not be applicable to: (i) any Proposed Issuance of
Common Stock to Apollo, in an amount equal to (A) the number of shares of Common
Stock previously sold or otherwise transferred by Apollo to members of
management of the Company less (B) the number of shares of Common Stock
previously purchased by

                                       11

<PAGE>

Apollo pursuant to the provisions of this clause (i); provided that in no event
shall Apollo be entitled to repurchase Common Stock with an aggregate purchase
price in excess of $3,500,000 pursuant to the provisions of this clause (i); and
(ii) any stock split or Proposed Issuance of Common Stock and/or Preferred Stock
as a dividend.

         (c) The Preemptive Rights shall be exercisable by delivery of notice
(the "Purchase Notice") to the Company given within the Acceptance Period set
forth in the Preemptive Notice. If a Purchaser shall fail to respond to the
Company within the Acceptance Period, such failure shall be regarded as a
rejection of such Purchaser's right to exercise such Purchaser's Preemptive
Right. The closing of any purchase by the Purchasers under this Article VI shall
be held at such time and place upon which the parties to the transaction may
agree. At such closing, the Purchasers participating in the purchase shall
deliver by certified bank check, payment in full for such Common Stock and/or
Preferred Stock and all parties to the transaction shall execute such additional
documents as are otherwise deemed necessary or appropriate by the Company. At
such closing, the Company may issue and sell to Apollo such portion of the
Common Stock and/or Preferred Stock which has not been purchased by Purchasers
pursuant to the exercise of their Preemptive Rights at the same price and on the
same terms and conditions as the Common Stock and/or Preferred Stock sold or
proposed to be sold to the Purchasers.

         (d) In the event of a Proposed Issuance of Common Stock and/or
Preferred Stock, which Proposed Issuance is subject to the Preemptive Rights
under this Article VI and which is offered only in combination with the purchase
of debt, debt securities or securities convertible or exchangeable into debt,
then the Preemptive Rights shall apply to the combination and a Purchaser
exercising his Preemptive Right shall be entitled and required to purchase his
pro rata share of both the debt (or debt exchangeable securities) and equity
components of such combination on the basis set forth above.

                                  ARTICLE VII

                                 MISCELLANEOUS

7.1.     ASSIGNMENT

         This Agreement shall bind an inure to the benefit of the parties
hereto and their respective successors, assigns, heirs and personal
representatives. Unless otherwise expressly provided in this Agreement, neither
this Agreement nor any right or obligation hereunder of any party may be
assigned or delegated without the prior written consent of the other parties
hereto, provided, that any of the Appollo Entities may assign this Agreement to
an affiliate.

                                       12

<PAGE>
7.2.     ENTIRE AGREEMENT

                This Agreement and the other writings referred to herein or
delivered pursuant hereto which form a part hereof contain the entire agreement
among the parties with respect to the subject matter hereof and supersede all
prior and contemporaneous arrangements or understandings with respect thereto.

7.3.     NOTICES

                All notices, demands or other communications to be given or
delivered under or by reason of the provisions of this Agreement shall be in
writing and shall be deemed to have been given (a) when delivered personally to
the recipient, (b) one business day after being sent by reputable overnight
courier (charges prepaid) (regardless of whether the recipient refuses to accept
delivery), (c) five business days after being sent to the recipient by certified
or registered mail, return receipt requested and postage prepaid (regardless of
whether the recipient refuses to accept delivery) or (d) when sent to the
recipient by facsimile (followed promptly by courier or certified or registered
mail delivery). Deliveries should be directed as follows:

                  If to the Seller or the Apollo Entities, to:

                  c/o Apollo Management, L.P.
                  1301 Avenue of the Americas, 38th Floor
                  New York, NY 10019
                  Telephone: 212-261-4000
                  Telecopy: 212-261-4102
                  Attention: Joshua J. Harris

                  with a copy to:

                  Dewey Ballantine LLP
                  1301 Avenue of the Americas

                  New York, NY 10019 Telephone: 212-259-6490
                  Telecopy: 212-259-6333
                  Attention: Morton A. Pierce, Esq.
                             Douglas L. Getter, Esq.

                                       13

<PAGE>

                  If to the Purchasers, to:

                  BT Investment Partners, Inc.
                  130 Liberty Street
                  New York, NY 10006
                  Telephone: 212-250-3709
                  Telecopy: 212-250-7651
                  Attention: Joe Wood

                  and

                  MTL Equity Investors, L.L.C.
                  c/o Merchant GP, Inc.
                  Eleven Madison Avenue
                  New York, NY 10010
                  Telephone: Telecopy:
                  Attention: Mark R. Patterson
                             Mark Kennelley

                  with a copy to:

                  Cahill Gordon & Reindel

                  80 Pine Street New York, NY 10005
                  Telephone: 212-701-3000
                  Telecopy: 212-269-5420
                  Attention: James J. Clark, Esq.

7.4.     WAIVERS; AMENDMENTS

         (a) No failure or delay on the part of any party in exercising any
right, power or privilege hereunder shall operate as a waiver thereof, nor shall
any single or partial exercise thereof preclude any other or further exercise
thereof or the exercise of any other right, power or privilege.

         (b) Any provision of this Agreement may be waived if, but only if, such
wavier is in writing and is signed, by the party or parties against whom the
wavier is to be effective. No provision of this Agreement may be amended or
otherwise modified except by an instrument in writing executed by the parties
hereto.

                                       14

<PAGE>
7.5.     COUNTERPARTS

         This Agreement may be executed in any number of counterparts, and each
such counterpart hereof shall be deemed to be an original instrument, but all
such counterparts together shall constitute but one agreement.

7.6.     EXPENSES

                All costs and expenses incurred in connection with this
Agreement shall be paid by the party incurring such cost or expense.

7.7.     REMEDIES

                Each party hereto acknowledges that the remedies at law of the
other parties for a breach or threatened breach of this Agreement would be
inadequate and, in recognition of this fact, any party to this Agreement,
without posting any bond, and in addition to all other remedies which may be
available, shall be entitled to obtain equitable relief in the form of specific
performance, a temporary restraining order, a temporary or permanent injunction
or any other equitable remedy which may then be available. The rights and
remedies herein provided shall be cumulative and not exclusive of any rights or
remedies provided by law.

7.8.     APPLICABLE LAW: SUBMISSION TO JURISDICTION

         This Agreement (other than the provisions of Article V which shall be
construed in accordance with and governed by the laws of the State of Delaware)
shall be construed in accordance with and governed by the laws of the State of
New York, without regard to the conflicts of law rules of such state. Each of
the parties hereto hereby consents to the non-exclusive jurisdiction of the
United States District Court for the Southern District of New York, or any other
New York State court sitting in New York, New York (and of the appropriate
appellate courts therefrom) over any suit, action or proceeding arising out of
or relating to this Agreement. Each party hereto irrevocably waives, to the
fullest extent permitted by law, any objection which it may now or hereafter
have to the laying of venue in any such court or that any such proceeding which
is brought in accordance with this Section has been brought in an inconvenient
forum. Subject to applicable law, process in any such proceeding may be served
on any party anywhere in the world, whether within or without the jurisdiction
of any such court. Without limiting the foregoing and subject to applicable law,
each party agrees that service of process on such party as provided in Section
6.3 shall be deemed effective service of process on such party as provided in
Section 6.3 shall be deemed effective service of process on such party. Nothing
herein shall affect the right of any party to serve legal process on such party.
Nothing herein shall affect the right of any party to serve legal process in any
other manner permitted by law or at equity or to enforce in any lawful manner a
judgment obtained in one jurisdiction in any other jurisdiction. WITH RESPECT TO
A PROCEEDING IN ANY SUCH COURT, EACH OF THE PARTIES IRREVOCABLY WAIVES AND
RELEASES TO THE OTHER ITS RIGHT TO A

                                       15

<PAGE>

TRIAL BY JURY, AND AGREES THAT IT WILL NOT SEEK A TRIAL BY JURY IN ANY SUCH
PROCEEDING.

7.9.     SEVERABILITY

                The invalidity or unenforceability of any provisions of this
Agreement in any jurisdiction shall not affect the validity, legality or
enforceability of the remainder of this Agreement in such jurisdiction or the
validity, legality or enforceability of this Agreement, including any such
provision, in any other jurisdiction, it being intended that all rights and
obligations of the parties hereunder shall be enforceable to the fullest extent
permitted by law.

7.10.    CERTAIN DEFINITIONS

                (a) For purposes of this Agreement, a "Public Offering" means
any underwritten public offering of equity securities of the Company pursuant to
an effective registration statement under the Securities Act other than pursuant
to a registration statement on Form S-4 or S-8 or any successor or similar form.

                (b) For the purposes of this Agreement, the "Threshold" means
the public or private sale by Apollo in any one or more transactions of $10
million, in the aggregate, of Capital Stock.

7.11.    TERMINATION

                This Agreement shall terminate at such time that Apollo shall
own less than 10% of the Common Stock on a fully diluted basis.

                                       16

<PAGE>
                 IN WITNESS WHEREOF, the parties hereto have caused this Common
 and Preferred Stock Purchase Agreement to be executed as of the date first
 above written.

                                             MTL INC.

                                             By:
                                                ----------------------------
                                                Name:
                                                Title:

                                             BT INVESTMENT PARTNERS, INC.

                                             By:
                                                ----------------------------
                                                Name:
                                                Title:

                                             MTL EQUITY INVESTORS, L.L.C.

                                             By:
                                                ----------------------------
                                                Name:
                                                Title:

                                             APOLLO INVESTMENT FUND III, L.P.

                                             By: Apollo Advisors II, L.P.,
                                                 its General Partner

                                             By: Apollo Capital Management II,
                                                 Inc.,
                                                 its General Partner

                                             By:
                                                ----------------------------
                                                Name: Joshua J. Harris
                                                Title: Vice President

<PAGE>
         IN WITNESS WHEREOF, the parties hereto have caused this Common and
Preferred Stock Purchase Agreement to be executed as of the date first above
written.

                                             MTL INC.

                                             By:
                                                ----------------------------
                                                Name:
                                                Title:

                                             BT INVESTMENT PARTNERS, INC.

                                             By: /s/ Michael J. Batel, III
                                                ----------------------------
                                                Name:  Michael J. Batel, III
                                                Title: Managing Director

                                             MTL EQUITY INVESTORS, L.L.C.

                                             By:
                                                ----------------------------
                                                Name:
                                                Title:

                                             APOLLO INVESTMENT FUND III, L.P.

                                             By: Apollo Advisors II, L.P.,
                                                 its General Partner

                                             By: Apollo Capital Management II,
                                                 Inc.,
                                                 its General Partner

                                             By:
                                                ----------------------------
                                                Name: Joshua J. Harris
                                                Title: Vice President
<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused this Common and
Preferred Stock Purchase Agreement lo be executed as of the date first above
written.

                                             MTL INC.

                                             By:
                                                ----------------------------
                                                Name:
                                                Title:

                                             BT INVESTMENT PARTNERS, INC.

                                             By:
                                                ----------------------------
                                                Name:
                                                Title:

                                             MTL EQUITY INVESTORS, L.L.C.

                                             By: /s/ Mark W. Kennelley
                                                ----------------------------
                                                Name:
                                                Title:

                                             APOLLO INVESTMENT FUND III, L.P.

                                             By: Apollo Advisors II, L.P.,
                                                 its General Partner

                                             By: Apollo Capital Management II,
                                                 Inc.,
                                                 its General Partner

                                             By:
                                                ----------------------------
                                                Name: Joshua J. Harris
                                                Title: Vice President
<PAGE>
         IN WITNESS WHEREOF, the parties hereto have caused this Common and
Preferred Stock Purchase Agreement lo be executed as of the date first above
written.

                                             MTL INC.

                                             By:
                                                ----------------------------
                                                Name:
                                                Title:

                                             BT INVESTMENT PARTNERS, INC.

                                             By:
                                                ----------------------------
                                                Name:
                                                Title:

                                             MTL EQUITY INVESTORS, L.L.C.

                                             By:
                                                ----------------------------
                                                Name:
                                                Title:

                                             APOLLO INVESTMENT FUND III, L.P.

                                             By: Apollo Advisors II, L.P.,
                                                 its General Partner

                                             By: Apollo Capital Management II,
                                                 Inc.,
                                                 its General Partner

                                             By: /s/  Joshua J. Harris
                                                ----------------------------
                                                Name: Joshua J. Harris
                                                Title: Vice President

<PAGE>

                                              APOLLO OVERSEAS PARTNERS, III,
                                                 L.P.

                                              By: Apollo Advisors II, L.P.,
                                                  its General Partner

                                              By: Apollo Capital Management II,
                                                  Inc., its General Partner

                                              By: /s/ Joshua J. Harris
                                                  ------------------------------
                                                  Name: Joshua J. Harris
                                                  Title: Vice President

                                              APOLLO U.K. FUND, III, L.P.

                                              By:  Apollo Advisors II, L.P.,
                                                   its General Partner

                                              By:  Apollo Capital Management II,
                                                   Inc., its General Partner

                                              By: /s/ Joshua J. Harris
                                                  ------------------------------
                                                  Name: Joshua J. Harris
                                                  Title: Vice President

<PAGE>
                                                                         ANNEX I

<TABLE>
<CAPTION>
                                         To                          Additionl
                                     Purchase        Original          Common          Preferred
 Purchaser                             Price*        Shares            Shares          Shares
 ---------                             ------        ------            ------          ------
<S>                                 <C>              <C>              <C>              <C>
 BT INVESTMENT                      $1,543,920       30,000           3,973            1,850
 PARTNERS, INC.

 MTL EQUITY                         $1,200,000       30,000              0               0
 INVESTORS, L.L.C.
</TABLE>

*Of which amount each of BT Investment Partners, Inc. and MTL Equity Investors,<PAGE>
                                                                    EXHIBIT 10.3

                                             EMPLOYMENT AGREEMENT (the
                                    "Agreement"), dated as of November 8, 1999,
                                    by and between Thomas Finkbiner (the
                                    "Executive") and QUALITY DISTRIBUTION, INC.,
                                    a Florida corporation (the "Company").

                  WHEREAS, the Company desires to have the benefit of the
Executive's knowledge and experience for the benefit of the Company and its
subsidiaries; and

                  WHEREAS, the Executive desires to be employed pursuant to the
terms and conditions hereinafter set forth.

                  NOW, THEREFORE, in consideration of the covenants contained
herein and other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the Company and the Executive hereby agree as
follows:

         SECTION 1. EMPLOYMENT.

                  The Company hereby employs the Executive, and the Executive
hereby accepts employment by the Company, upon the terms and conditions
hereinafter set forth. The Executive's employment hereunder shall commence, and
shall be effective as of the date hereof, (the "Effective Date").

         SECTION 2. TERM.

                  Subject to the provisions for earlier termination as herein
provided, the employment of the Executive hereunder will be for the period
commencing on the Effective Date and ending on the second anniversary of such
date. On the first anniversary of the Effective Date, and on each anniversary
thereafter, the term of this Agreement shall automatically be extended by an
additional one year unless, no later than 90 days prior to any such renewal
date, either the Company or the Executive gives written notice to the other that
the term will not be extended, in which case the Executive's employment
hereunder shall terminate upon the expiration of the then-current term. The
period of the Executive's employment under this Agreement, as it may be
terminated or extended from time to time as provided herein, is referred to
hereafter as the "Employment Period".

         SECTION 3. DUTIES AND RESPONSIBILITIES.

                  During the Employment Period, the Executive shall serve as
Chief Executive Officer of the Company. The Executive will faithfully perform
the duties and responsibilities of such office, as they may be assigned from
time to time by the Board of Directors of the Company (the "Board") or the
Board's designee. The Executive shall devote full-time attention and energy
during all business hours during the Employment Period at the Company's Tampa
offices or engaged in business related travel (except for permitted vacation
periods taken in accordance with the Company's policy and reasonable periods of
illness or other incapacity) to the business and affairs of the Company, and at
all times the Executive shall use his best efforts to serve and advance the
business of the Company. During the Employment Period, the Executive shall not
engaged in any business activity which, in the reasonable judgment of the
<PAGE>

Board or its designee, conflicts with the duties of the Executive hereunder,
whether or not such activity is pursued for gain, profit or other pecuniary
advantage; provided, however, to the extent not in conflict with this Section 3,
the Executive shall not be prohibited from engaging in passive business
activities permitted under Section 8(a)(i) hereof.

         SECTION 4. COMPENSATION AND BENEFITS.

                  (a)      Base Salary.. During the Employment Period, The
Company shall pay to the Executive an annual base salary of $260,000, payable in
accordance with the Company's general payroll practices and subject to
withholding and other payroll taxes. The Executive's base salary shall be
reviewed annually by the Board (excluding the Executive if he should be a member
of the Board at the time of such determination) and shall be subject to increase
at the option and sole discretion of the Board.

                  (b)      Bonus.

                           (i)      Upon the Effective Date the Company shall
         pay to the Executive a bonus of $75,000 subject to ordinary withholding
         and other payroll taxes;

                           (ii)     During the Employment Period the Executive
         shall be eligible to receive, at the sole discretion of the Board, an
         annual cash bonus based on predetermined performance standards
         established pursuant to the Company's Goal-Oriented Compensation
         Achievement Plan on the date hereof, or such other annual bonus plan to
         be agreed upon by the Executive and the Board. The Executive shall have
         a target bonus of 50% of his base salary under such plan. In addition,
         the Company will reserve an additional bonus amount equal to 25% of
         base salary, payable in whole or in part based on guidelines
         established and evaluated by the Board or its designee (in consultation
         with management), relating to extraordinary performance by the Company
         and Executive.

                  (c)      Benefits. In addition to the salary and cash bonus
referred to above, the Executive shall be entitled during the Employment Period
to participate in such employee benefit plans or programs of the Company, and
shall be entitled to such other fringe benefits, as are from time to time made
available by the Company generally to employees of the Executive's position,
tenure, salary, and other qualifications, on terms and conditions at least as
favorable as those provided to such similarly situated employees. The Executive
acknowledges and agrees that the Company does not guarantee the adoption of any
particular employee benefit plan or program or other fringe benefit during the
Employment Period, and participation by the Executive in any such plan or
program shall be subject to the rules and regulations applicable thereto.

                  (d)      Options to Purchase Common Stock. Upon the Effective
Date, the Executive shall be granted options to purchase 25,000 shares of the
Company's common stock at a price of $40 per share, which options shall be
subject to the terms and provisions set forth in Attachment A hereto. In
addition, the Executive shall be eligible for such other awards, if any, under
the Company's stock option plan in effect as of the date hereof or any other
stock option or other equity-based incentive plan as shall be granted to the
Executive from time to time by the Board or its desingee, in its sole
discretion. All options granted pursuant to this Section 4(d) shall be referred
to hereinafter as the "Executive Options."

                                       2
<PAGE>

                  (e)      Expenses. The Company will reimburse the Executive,
in accordance with the practices in effect from time to time for other officers
or staff personnel of the Company, for all reasonable and necessary business
expenses incurred by the Executive for or on behalf of the Company in the
performance of the Executive's duties hereunder, upon presentation by the
Executive to the Company of appropriate vouchers or documentation.

                  (f)      Relocation. The Executive shall relocate to Florida
in connection with this Agreement, the Company agrees to reimburse the Executive
for reasonable moving expenses incurred by him in connection with such
relocation (including payment of reasonable, documented real estate brokerage
fees paid by the Executive in connection with the sale of the home in which the
Executive resides immediately prior to such relocation.)

         SECTION 5. TERMINATION.

                  The Company reserves the right to terminate the Executive's
employment hereunder at any time with or without "Cause" (as defined herein),
subject to the provisions of Section 6 hereof. In addition, the Executive's
employment hereunder may be terminated by the Company under the following
circumstances:

                  (a)      Death. The Employment Period shall terminate upon the
death of the Executive.

                  (b)      Disability. If, as a result of the Executive's
incapacity due to physical or mental illness, the Executive shall have been
unable to satisfactorily perform all of his duties hereunder for 90 days
(whether or not consecutive) during any 365 day period, and within 30 days after
written notice of termination is given (which may occur before or after the end
of such absence period) shall not have returned to the performance of the duties
set forth hereunder on a full-time basis, the Company may terminate the
Executive's employment hereunder on the basis of disability.

                  (c)      For Cause. The Company may terminate the Executive's
employment hereunder for Cause. For purposes of this Agreement, the Company
shall have "Cause" to terminate the Executive's employment hereunder if such
termination shall be the result of:

                           (i)      the failure by the Executive to
                                    satisfactorily perform his duties hereunder
         which shall be deemed to include, without limitation, habitual
         absenteeism or dereliction of duty;

                           (ii)     disobeying in a material respect any legally
         appropriate directives of the Board that are specific in nature;

                           (iii)    a material breach of the Executive's
         fiduciary duty to the Company, willful misconduct or material
         dishonesty fraud, or theft;

                           (iv)     the material breach of any of the covenants
         set forth in Section 8 hereof; or

                                       3
<PAGE>
                           (v)      a conviction for, or plea of guilty or nolo
         contendere to any crime involving moral turpitude any felony.

Any termination of the Executive's employment for Cause by the Company shall be
communicated by a written notice of termination, indicating the specific
termination provision in the Agreement relied upon and setting forth the facts
that provide the basis for the Executive's termination. Such notice must be
given at least thirty days prior to termination, and the Executive shall have
the opportunity during such notification period to cure or correct any failure
or breach upon which the Executive's termination is based.

                  (d)      Good Reason. The Executive may terminate his
employment hereunder for "Good Reason." For purposes of this Agreement, the
Executive shall have "Good Reason" to terminate his employment if such
termination shall be the result of

                           (i)      a material diminution caused by the Company
         in the Executive's duties and responsibilities as contemplated by
         Section 3 hereof;

                           (ii)     a material breach by the Company of its
         compensation and benefit obligations under Section 4 hereof;

                           (iii)    a relocation of the Executive required by
         the Company of more than 50 miles from the current location of the
         Company's Tampa Offices; or

                           (iv)     a Change of Change of the Company that
         occurs within 24 months after the Effective Time; for this purpose,
         Change in Control shall mean any "Person" or "Group," within the
         meaning of Section 13(d)(3) of the Securities Exchange Act of 1934, as
         amended, other than an "Affiliate", as defined in the Securities Act of
         1933, of Apollo Management, L.P. that acquires (A) all or substantially
         all of the assets of the Company, (B) the Company in a merger where the
         Company is not the surviving entity, or (C) shares of the Company's
         capital stock sufficient to elect a majority of the Board, upon a
         complete dissolution of the Company; provided, however, that no such
         Change of Control shall be deemed to occur if such Person or Group is a
         company that has publicly traded securities in its capital structure,
         and no other "Person" or "Group" owns more of the voting power with
         respect to the election of directors than the Apollo Management, L.P.
         and its Affiliates. -

Any termination of the Executive's employment for Good Reason by the Executive
shall be communicated by a written notice of termination, indicating the
specific termination provision in the Agreement relied upon and setting forth
the facts that provide the basis for the Executive's termination. Such notice
must be given at least thirty days prior to termination, and the Company shall
have the opportunity during such notification period to cure or correct any
failure or breach upon which the Executive's termination is based.

         SECTION 6. COMPENSATION UPON TERMINATION.

                  (a)      Death. If the Executive's employment is termination
by his death, the Company shall pay to the Executive's legal representative (in
accordance with Section 29 hereof) (i) any unpaid base salary through the date
of death and for sixty days thereafter and (ii) a pro rata

                                       4
<PAGE>

annual bonus (based on the death) as calculated in accordance with Section 6(f)
hereof. Except as provided in Section 6(e) hereof, the Company shall have no
further obligation to the Executive hereunder.

                  (b)      Disability. During any period that the Executive
fails to perform his duties hereunder as a result of incapacity due to
disability as described in Section 5(b) hereof, the Executive shall continue to
receive his full salary at the rate then in effect for such period until his
employment is terminated pursuant to Section 5(b) hereof, provided that payments
so made to the Executive during the disability period shall be reduced by the
sum of the amounts, if any, paid to the Executive at or prior to the time of any
such payment under any disability benefit Plans of the Company or under the
Social Security disability insurance program. The Executive shall also receive a
pro rata annual bonus for the year of termination as calculated in accordance
with Section 6 hereof.

                  (c)      For Cause: Voluntary Termination. Etc. If the
Executive's employment shall be terminated (i) by the Company for Cause, (ii) by
the Executive other than for Good Reason or (iii) by either party by providing
written notice of termination pursuant to Section 2 of this Agreement, the
Company shall pay the Executive his base salary through the final date of
employment and, except as provided in Section 6 hereof the Company shall have no
further obligation to the Executive hereunder.

                  (d)      Without Cause: Good Reason. In the event of
termination of the Executive's employment hereunder by the Company without Cause
(other than upon death or disability or delivery of a notice pursuant to Section
2 hereof) or by the Executive for Good Reason, the Executive shall be entitled
to the following severance pay and benefits:

                           (i)      severance payments in the form of
         continuation of the Executive's base salary as in effect immediately
         prior to such termination over the then-remaining current term hereof
         (the "Severance Period"); provided, however, if a termination occurs
         pursuant to Section 5(d)(iv) hereof, the Severance Period shall be the
         period of 2 years starting on the date of such termination;

                           (ii)     continuation during the Severance Period of
         coverage under the group medical benefits plan in which the Executive
         is participating at the time of termination; provided, however, that
         the Company's obligation to provide such coverage shall be terminated
         if the Executive obtains comparable substitute coverage from another
         employer at any time during the Severance Period; and

                           (ii)     a pro rate bonus as calculated in accordance
         with Section 6(f) hereof.

                  (e)      Sole Remedy. The Parties agree that the foregoing
shall constitute the Executive's sole and exclusive rights and remedies by
reason of termination pursuant to this Section 6, and that with respect to
Section 6(d) above, such amounts shall constitute an agreement between the
parties of liquidated damages for the Executive by reason of any such
termination. It is further understood that neither party hereto shall be
entitled to punitive, consequential or special damages with respect to any claim
hereunder, and each party waives all

                                       5
<PAGE>

such rights and remedies if any, except to the extent such a waiver is
determined in a court of competent jurisdiction to violate public law or policy.

                  (f)      Pro Rata Bonus. If the Executive's employment is
terminated under Section 5 hereof as a result of death, disability, by the
Company without Cause, by the Executive for Good Reason, the Executive shall
receive, a pro rata portion of the annual bonus for the year in which the
termination occurs (based on the period of service prior to such termination),
with such amount calculated and paid following the completion of the year based
on the Company's performance applicable under the terms set forth in Section
4lbl(ii) hereof. Notwithstanding any provisions set forth herein, or any
provisions set forth in the applicable bonus plan, any pro rata bonus paid
pursuant to this Section 6 shall be paid at the end of the fiscal year that such
termination occurs, based on the Company's performance for such fiscal year.

                  (g)      Other Benefits. The benefits payable to the Executive
under this Agreement are not in lieu of any benefits payable under any employee
benefit plan, program or arrangement of the Company, and upon termination the
Executive will receive such benefits or payments, if any, as the Executive may
be entitled to receive pursuant to the terms of such plans, programs and
arrangements.

         SECTION 7. COMPANY COMMON STOCK.

                  (a)      Purchase of Common Stock.

                           (i)      The Executive shall purchase 20,000 shares
         of the Company's common stock (the "Loan Shares"), as soon as
         practicable following the Effective Date and the Company agrees to sell
         such shares at a price of $40 per share, for a total purchase price of
         $800,000. The Company further agrees to lend to the Executive up to
         100% of the total purchase price set forth in the immediately preceding
         sentence, pursuant to the terms of a Limited Recourse Promissory Note
         (the "Note") entered into as of the date hereof, a form of which is
         attached hereto as Attachment B;

                           (ii)     Notwithstanding the provisions set forth in
         Section 7(a)(i)hereof, and in addition to the total amount of Loan
         Shares purchased pursuant to the terms set forth therein, the Executive
         shall, as soon as practicable following the effective date, purchase
         5,000 shares of the Company's common stock (the "Cash Shares" and
         collectively with the Loan Shares hereinafter referred to as the
         "Executive Shares") at a price of $40 per share, for a total purchase
         price of $200,000.

         SECTION 8. RESTRICTIVE COVENANTS.

                  (a)      Covenant Not to Compete.

                           (i)      During the Employment Period and (A) for a
         period of two years from the termination date, following the
         termination by the Company for Cause or by the Executive without Good
         Reason or (B) until the Executive ceases to receive salary or severance
         payments from the Company (including, without limitation, any
         subsidiary thereof), if the Executive is terminated by the Company
         without Cause or the Executive terminates his employment for Good
         Reason (the "Restricted Period"), the Executive

                                       6
<PAGE>

         shall not, (i) engage in (A) any business that includes the
         transportation of any goods or products transported by the Company or
         its Affiliates as of the date hereof and the date of termination, (B)
         the bulk trucking business, (C) the bulk tank cleaning business, or (D)
         any other business in which the Company or any of its Affiliates are
         engaged as of the date hereof or the date of termination of the
         employment with the Company (collectively, the "Company Business")
         within the United States; (ii) compete or participate as agent,
         employee, consultant, advisor, representative or otherwise in any
         enterprise which has any material operations engaged in the Company
         Business within the United States; or (iii) compete or participate as a
         stockholder, partner, member or joint venture, or has any direct or
         indirect financial interest, in any enterprise which has any material
         operations engaged in the Company Business within the United States;
         (the "Company Business"), except that the Executive shall be allowed to
         invest his assets in the securities of public companies engaged in the
         Company Business if such holdings are passive investments which do not
         involve the Executive's holding with respect to any such entity the
         position of officer, director, employee, consultant or general partner,
         or owning directly or indirectly two percent (2%) or more of the stock,
         whether voting or not, of any such entity, and which do not involve the
         Executive becoming a secured or unsecured creditor of any such entity;

                  (ii)     At its sole option, the Company may extend by a
         period of up to one year the Restricted Period applicable under
         Sections 8(a)(i) and (iii) hereof by providing to the Executive the
         severance payments and benefits referred to in Section 6(d)(i)-(ii) and
         paying such bonus as would have been paid to the Executive for such
         extended period pursuant to Section 4(b) had the Executive been
         employed during such extended period, based on the Company's
         performance hereof for the duration of any such extended period. The
         Company shall notify the Executive if it wishes to exercise this option
         not later than 135 days prior to the expiration of the then-current
         Restricted Period;

                  (iii)    During the Restricted Period, the Executive agrees to
         refrain from interfering with the employment relationship between the
         Company, its subsidiaries and its Affiliates and their respective
         employees, unions, members of the Company's Affiliate Program or other
         independent owner/operators by directly or indirectly soliciting or
         making any other contact with any of such individuals to participate in
         independent business ventures, and the Executive agrees to refrain from
         directly or indirectly soliciting business from or making any other
         contact with any client of the Company or any of its subsidiaries or
         Affiliates, or prospective client that has been solicited by the
         Company or any of its subsidiaries or Affiliates within three months of
         the date of termination; and

                  (iv)     In the event of any breach of the restrictive
         convenants set forth in Section 8(a) hereof, the Company shall have the
         right, in its sole discretion, and in addition to its right of
         enforcement under Section 8 hereof and any other right of enforcement
         or recovery available to the Company at law or equity or under this
         Agreement, to (a) suspend or cancel the Executive's right to exercise
         the Executive Options (whether or not then otherwise exercisable), (b)
         suspend or cancel the Executive's pending right to receive an issuance
         of shares in settlement of any Executive

                                       7
<PAGE>

         Option exercise, and/or (c) either (1) cancel the shares issued upon
         exercise of the Executive Options (with repayment, to the Executive of
         the full purchase price paid for such shares) or (2) require the
         Executive to pay to the Company in cash an amount equal to the gain
         realized by the Executive upon exercise of any Executive Option;
         provided, however, that the foregoing shall not apply to any Executive
         Options exercised more than six months prior to the date of termination
         of employment. The Company shall provide at least twenty days advance
         notice and opportunity to cure before exercising this right.

                  (b)      Intellectual Property. During the Employment Period,
the Executive will disclose to the Company all ideas, inventions, creations,
business plans and other intellectual property developed by the Executive during
such period which relate directly or indirectly to the Company Business,
including, without limitation, any process, operation, product or improvement
which may be patentable or copyrightable. The Executive agrees that such will be
the property of the Company and that the Executive will, at the Company's
request and cost, do whatever is necessary to secure the rights thereto by
patent, copyright or otherwise to the Company. The Executive shall be prohibited
from making use of or implementing any such ideas, inventions or business plans
in connection with his employment with a business that is considered a
competitor under Section 8(a)(i) hereof.

                  (c)      Confidentiality. During the Employment Period and at
all times thereafter, the Executive agrees that he will not divulge to anyone
(other than the Company or any persons employed or designated by the Company)
any knowledge or information of any type whatsoever of a confidential nature or
any information not readily available to the public relating to the business of
the Company or any of its subsidiaries or Affiliates, including, without
limitation, all types of trade secrets (unless readily ascertainable from public
or published information or trade sources), product design and customer and
supplier information. The Executive further agrees -not to disclose, publish or
make use of any such knowledge or information (other than the Company or any
persons employed or designated by the Company) without the prior written,
consent of the Company.

                  (d)      Remedy for Breach. The parties hereto acknowledge
that in addition to any remedies available to the Company at law or under this
Agreement, the Executive hereby consents and agrees that the Company shall be
entitled to seek a restraining order or injunction in any court of competent
jurisdiction to prevent any continuation of any violation of the provisions of
this Section 8 and the Executive hereby consents that such restraining order or
injunction may be granted.

         SECTION 9. (INTENTIONALLY LEFT BLANK)

         SECTION 10. ENFORCEMENT.

                  It is the desire and intent of the parties hereto that the
provisions of this Agreement be enforceable by a court of competent jurisdiction
to the fullest extent permissible under the laws of public policies applied in
each jurisdiction where enforcement is sought. If, at the time of enforcement of
Section 8 of this Agreement, a court holds that the restrictions stated herein
are unreasonable under circumstances then existing, the parties hereto agree
that the

                                       8
<PAGE>

maximum period, scope or geographical area reasonable under such circumstances
shall be substituted for the stated period, scope or area.

                  (a)      Because the employment relationship between the
Company and the Executive is unique and because the Executive has access to
Confidential Information and Work Product, the parties hereto agree that money
damages would be an inadequate remedy for any breach of this Agreement.
Therefore, in the event of a breach or threatened breach of this Agreement,
either party may, in addition to other rights and remedies existing in their
favor, apply to any court of competent jurisdiction for specific performance
and/or injunctive or other relief in order to enforce, or prevent any violations
of, the provisions hereof (without posting a bond or other security) or, in the
case of a breach by the Executive of the provisions of Section 8 hereof require
the Executive to account for and pay over to the Company all compensation,
profits, moneys, accruals, increments or other benefits derived or received as a
result of any transactions constituting a breach of the covenants contained
therein.

                  (b)      The prevailing party in any legal action (including
any arbitration pursuant to Section 14 arising out of or relating to this
Agreement shall be entitled to its reasonable attorneys' fees and court and
other costs.

         SECTION 11. JURISDICTION AND VENUE,

                  (a)      Each of the parties hereto hereby irrevocably and
unconditionally submits, for itself or himself and its or his property, to the
exclusive jurisdiction of any New York state court or federal court of the
United States of America sitting in New York, and any appellate court presiding
thereover, in any action or proceeding arising out of or relating to this
Agreement, or for recognition or enforcement of any judgment relating thereto,
and each of the parties hereto hereby irrevocably and unconditionally agrees
that all claims in respect of any such action or proceeding may be heard and
determined in any such New York state court or, to the extent permitted by law,
in any such federal court. Each of the parties hereto agrees that a final
judgment in any such action or proceeding shall be conclusive and may be
enforced in other jurisdictions by suit on the judgment or in any other manner
provided by law.

                  (b)      Each of the parties hereto irrevocably and
unconditionally waives, to the fullest extent it or he may legally and
effectively do so, any objection that it or he may now or hereafter have to the
laying of venue of any suit, action or proceeding arising out of or relating to
this Agreement, in any New York State or federal court sitting in New York
County, New York. Each of the parties hereto irrevocably waives, to the fullest
extent permitted by law, the defense of an inconvenient forum to the maintenance
of such action or proceeding in any such court.

                  (c)      The parties hereto further agree that the mailing by
certified or registered mail, return receipt requested, of any process required
by any such court shall constitute valid and lawful service of process against
them, without the necessity for service by any other means provided by law.

                                       9
<PAGE>

         SECTION 12. SURVIVAL.

                Notwithstanding anything contained in this Agreement to the
contrary, the provisions of Sections 6, 8 and 10 hereof will survive the
expiration or other termination of this Agreement until, by their terms, such
provisions are no longer operative.

         SECTION 13. NOTICES.

                Notices and other communications hereunder will be in writing
and will be delivered personally or sent by air courier or fast class certified
or registered mail, return receipt requested and postage prepaid, addressed as
follows:

         if to the Executive:         Thomas Finkbiner
                                      3081 Kline Drive
                                      Virginia Beach, VA 23452

         And if to the Company:       Quality Distribution, Inc.
                                      3802 Corporex Park Drive
                                      Tampa, Florida 33619
                                      Attention: General Counsel

         With a copy to:              Apollo Management, L.P.
                                      c/o Joshua Harris
                                      1301 Avenue of the Americas, 38th Floor
                                      New York, New York 10019

All notices and other communications given to any party hereto in accordance
with the provisions of this Agreement will be deemed to have been given on the
date of delivery, if personally delivered; on the business day after the date
when sent, if sent by air courier; and on the third business day after the date
when sent, if sent by mail, in each case addressed to such party as provided in
this Section 13 or in accordance with the latest unrevoked direction from such
party.

         SECTION 14. ARBITRATION.

                Except as specifically provided in Section 10 hereof, any
dispute or controversy arising under or in connection with this Agreement shall
be settled exclusively by arbitration, Conducted before a single arbitrator in
accordance with the rules of the American Arbitration Association then in
effect. Judgment may be entered on the arbitrator's award in any court having
jurisdiction. The attorney's fees and expenses of the prevailing party shall be
paid by the non-prevailing party, based on a determination made by the
arbitrator for this purpose as to which party is the prevailing party hereunder.
Arbitrators will be selected from the American Arbitration Association's panel
of arbitrators in the New York region and the location of the arbitration
proceeding shall be in Hillsborough County, Florida.

                                       10
<PAGE>

         SECTION 15. GOVERNING LAW.

                THIS AGREEMENT WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE DOMESTIC LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO ANY
CHOICE OF LAW OR CONFLICTING PROVISION OR RULE (WHETHER OF THE STATE OF NEW YORK
OR ANY OTHER JURISDICTION), THAT WOULD CAUSE THE LAWS OF ANY JURISDICTION OTHER
THAN THE STATE OF NEW YORK TO BE APPLIED. IN FURTHERANCE OF THE FOREGOING, THE
INTERNAL LAW OF THE STATE OF NEW YORK WILL CONTROL THE INTERPRETATION AND
CONSTRUCTION OF THIS AGREEMENT, EVEN IF UNDER SUCH JURISDICTION'S CHOICE OF LAW
OR CONFLICT OF LAW ANALYSIS, THE SUBSTANTIVE LAW OF SOME OTHER JURISDICTION
WOULD ORDINARILY APPLY.

         SECTION 16. WAIVER OF BREACH.

                The waiver by either party of a breach of any provision of this
Agreement by the other party must be in writing and will not operate or be
construed as a waiver of any subsequent breach by such other party. No course of
conduct or failure or delay in enforcing the provisions of this Agreement shall
effect the validity, binding effect or enforceability of this Agreement or any
provisions hereof.

         SECTION 17. ENTIRE AGREEMENT: AMENDMENTS.

                This Agreement contains the entire agreement between the parties
with respect to the subject matter hereof and supersedes all prior agreements or
understandings among the parties with respect thereof. This Agreement may be
amended only with the prior written consent of the Company, the Executive and
Apollo Management, L.P.

         SECTION 18. HEADINGS,

                The section headings contained in this Agreement are for
reference purposes only and will not affect in any way the meaning or
interpretation of this Agreement.

         SECTION 19. SEVERABILITY.

                Any provision of this Agreement that is prohibited or
unenforceable in any jurisdiction will, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability in any jurisdiction will
not invalidate or render unenforceable such provision in any other jurisdiction.

         SECTION 20. ASSIGNMENT; SUCCESSORS.

                This Agreement is personal in its nature and the parties shall
not, without the consent of the other, assign or transfer his Agreement or any
rights or obligations hereunder; provided, that (i) the provisions hereof will
inure to the benefit of, and be binding upon, each successor of the Company,
whether by merger, consolidation, transfer of all or substantially all

                                       11
<PAGE>

of its assets or otherwise (subject to Section 5(d)(iv) herein) and (ii) all of
the Executive's rights to compensation following his death shall inure to the
benefit of his heirs, estate, personal representatives or designees or other
legal representatives as the case may be.

                                     ******

                                       12
<PAGE>

                IN WITNESS WHEREOF, the parties have duly executed this
Agreement as of the date first above written.

                                    QUALITY DISTRIBUTION, INC.

                                    -------------------------------------------
                                    Name:
                                    Title:

                                    EXECUTIVE

                                    /s/ Thomas Finkbiner
                                    -------------------------------------------
                                    Thomas Finkbiner

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00036-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00036-of-00352.parquet"}]]