Document:

Compensation Arrangement Agreement, dated as of November 5, 2003

 Exhibit 10.7 
  
 OVERNITE CORPORATION 
  
 STOCK INCENTIVE PLAN 

 Table of Contents 
  

					
	ARTICLE I DEFINITIONS	  	1
			
	 1.01.
	  	 Accounting Firm
	  	1
	 1.02.
	  	 Administrator
	  	1
	 1.03.
	  	 Affiliate
	  	1
	 1.04.
	  	 Agreement
	  	1
	 1.05.
	  	 Beneficial Owner
	  	1
	 1.06.
	  	 Board
	  	1
	 1.07.
	  	 Cause
	  	1
	 1.08.
	  	 Change in Control
	  	1
	 1.09.
	  	 Code
	  	2
	 1.10.
	  	 Committee
	  	3
	 1.11.
	  	 Common Stock
	  	3
	 1.12.
	  	 Company
	  	3
	 1.13.
	  	 Control Change Date
	  	3
	 1.14.
	  	 Corresponding SAR
	  	3
	 1.15.
	  	 Exchange Act
	  	3
	 1.16.
	  	 Fair Market Value
	  	3
	 1.17.
	  	 Good Reason
	  	3
	 1.18.
	  	 Initial Value
	  	4
	 1.19.
	  	 Option
	  	4
	 1.20.
	  	 Participant
	  	4
	 1.21.
	  	 Performance Criteria
	  	4
	 1.22.
	  	 Performance Shares
	  	4
	 1.23.
	  	 Person
	  	5
	 1.24.
	  	 Plan
	  	5
	 1.25.
	  	 Related Entity
	  	5
	 1.26.
	  	 Restoration Feature
	  	5
	 1.27.
	  	 SAR
	  	5
	 1.28.
	  	 Stock Award
	  	5
		
	 ARTICLE II PURPOSES
	  	6
		
	 ARTICLE III ADMINISTRATION
	  	7
		
	 ARTICLE IV ELIGIBILITY
	  	8
		
	 ARTICLE V STOCK SUBJECT TO PLAN
	  	9
			
	 5.01.
	  	 Shares Issued
	  	9
	 5.02.
	  	 Aggregate Limit
	  	9
	 5.03.
	  	 Reallocation of Shares
	  	9
		
	ARTICLE VI OPTIONS	  	10
			
	 6.01.
	  	 Award
	  	10

  

 i 

					
	 6.02.
	  	 Option Price
	  	10
	 6.03.
	  	 Maximum Option Period
	  	10
	 6.04.
	  	 Nontransferability
	  	10
	 6.05.
	  	 Transferable Options
	  	10
	 6.06.
	  	 Employee Status
	  	11
	 6.07.
	  	 Exercise
	  	11
	 6.08.
	  	 Payment
	  	11
	 6.09.
	  	 Change in Control
	  	11
	 6.10.
	  	 Shareholder Rights
	  	12
	 6.11.
	  	 Disposition of Stock
	  	12
		
	ARTICLE VII SARS	  	13
			
	 7.01.
	  	 Award
	  	13
	 7.02.
	  	 Maximum SAR Period
	  	13
	 7.03.
	  	 Nontransferability
	  	13
	 7.04.
	  	 Transferable SARs
	  	13
	 7.05.
	  	 Exercise
	  	14
	 7.06.
	  	 Change in Control
	  	14
	 7.07.
	  	 Employee Status
	  	14
	 7.08.
	  	 Settlement
	  	14
	 7.09.
	  	 Shareholder Rights
	  	15
		
	 ARTICLE VIII STOCK AWARDS
	  	16
			
	 8.01.
	  	 Award
	  	16
	 8.02.
	  	 Vesting
	  	16
	 8.03.
	  	 Employee Status
	  	16
	 8.04.
	  	 Change in Control
	  	16
	 8.05.
	  	 Shareholder Rights
	  	17
		
	 ARTICLE IX PERFORMANCE SHARE AWARDS
	  	18
			
	 9.01.
	  	 Award
	  	18
	 9.02.
	  	 Earning the Award
	  	18
	 9.03.
	  	 Payment
	  	18
	 9.04.
	  	 Shareholder Rights
	  	18
	 9.05.
	  	 Nontransferability
	  	18
	 9.06.
	  	 Transferable Performance Shares
	  	19
	 9.07.
	  	 Employee Status
	  	19
	 9.08.
	  	 Change in Control
	  	19
		
	 ARTICLE X ADJUSTMENT UPON CHANGE IN COMMON STOCK
	  	20
		
	 ARTICLE XI COMPLIANCE WITH LAW AND APPROVAL OF REGULATORY BODIES
	  	21

  

 ii 

					
	 ARTICLE XII GENERAL PROVISIONS
	  	22
			
	 12.01.
	  	 Effect on Employment and Service
	  	22
	 12.02.
	  	 Unfunded Plan
	  	22
	 12.03.
	  	 Rules of Construction
	  	22
	 12.04.
	  	 Tax Withholding
	  	22
	 12.05.
	  	 Limitation on Benefits
	  	22
		
	 ARTICLE XIII AMENDMENT
	  	24
		
	 ARTICLE XIV DURATION OF PLAN
	  	25
		
	 ARTICLE XV EFFECTIVE DATE OF PLAN
	  	26

  

 iii 

 ARTICLE I 
 DEFINITIONS 
  
 1.01.
Accounting Firm 
  
 Accounting Firm means the
independent accounting firm engaged to audit the Company’s financial statements. 
  
 1.02. Administrator 
  
 Administrator
means the Committee and any delegate of the Committee that is appointed in accordance with Article III. Notwithstanding the preceding sentence, “Administrator” means the Board on any date on which there is not a Committee. 
  
 1.03. Affiliate 
  
 Affiliate has the meaning set forth in Rule 12b-2 of the General Rules and Regulations under the Exchange Act, as amended
from time to time. 
  
 1.04. Agreement 
  
 Agreement means a written agreement (including any amendment or supplement
thereto) between the Company and a Participant specifying the terms and conditions of an award of Performance Shares or a Stock Award, Option or SAR granted to such Participant. 
  
 1.05. Beneficial Owner 
  
 Beneficial Owner has the meaning set forth in Rule 13d-3 under the Exchange Act, except that a Person shall not be deemed to be the Beneficial Owner of
any securities the holding of which is properly disclosed on a Form 13-G. 
  
 1.06. Board 
  
 Board means the Board of
Directors of the Company. 
  
 1.07. Cause 
  
 Cause means that the Participant has been convicted of a felony that
involves the misappropriation of the assets of the Company or a Related Entity or that materially injures the business reputation of the Company or a Related Entity. 
  
 1.08. Change in Control 
  
 Change in Control means the occurrence of any of the events set forth in any one of the following paragraphs: 
  
 (1) any Person is or becomes the Beneficial Owner, directly
or indirectly, of securities of the Company (not including in the securities beneficially owned by such Person any securities acquired directly from the Company or its affiliates) representing 
  

 1 

 30% or more of the combined voting power of the Company’s then outstanding securities, excluding any
Person who becomes such a Beneficial Owner in connection with a transaction described in clause (i) of paragraph (3) below; or 
  
 (2) the following individuals cease for any reason to constitute a majority of the number of directors then serving: individuals who, on
the date the Plan is adopted by the Board, constitute the Board and any new director (other than a director whose initial assumption of office is in connection with an actual or threatened election contest, including but not limited to a consent
solicitation, relating to the election of directors of the Company) whose appointment or election by the Board or nomination for election by the Company’s stockholders was approved or recommended by a vote of at least two-thirds (2/3) of the
directors then still in office who either were directors on the date hereof or whose appointment, election or nomination for election was previously so approved or recommended, or 
  
 (3) there is consummated a merger or consolidation of the Company or any direct or indirect subsidiary of
the Company with any other corporation, other than (i) a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining
outstanding or by being converted into voting securities of the surviving entity or any parent thereof) at least 50% of the combined voting power of the securities of the Company or such surviving entity or any parent thereof outstanding immediately
after such merger or consolidation, or (ii) a merger or consolidation effected to implement a recapitalization of the Company (or similar transaction) in which no Person is or becomes the Beneficial Owner, directly or indirectly, of securities of
the Company (not including in the securities Beneficially Owned by such Person any securities acquired directly from the Company or its Affiliates) representing 50% or more of the combined voting power of the Company’s then outstanding
securities; or 
  
 (4) the stockholders of the
Company approve a plan of complete liquidation or dissolution of the Company or there is consummated an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets, other than a sale or disposition
by the Company of all or substantially all of the Company’s assets to an entity at least 50% of the combined voting power of the voting securities of which is owned by stockholders of the Company in substantially the same proportions as their
ownership of the Company immediately prior to such sale. 
  
 Notwithstanding the
foregoing, a “Change in Control” shall not be deemed to have occurred by virtue of the consummation of any transaction or series of integrated transactions immediately following which the recordholders of the common stock of the Company
immediately prior to such transaction or series of transactions continue to have substantially the same proportionate ownership in an entity which owns all or substantially all of the assets of the Company immediately following such transaction or
series of transactions. 
  
 1.09. Code 
  
 Code means the Internal Revenue Code of 1986, and any amendments thereto.

  

 2 

 1.10. Committee 
  

Committee means the Compensation Committee of the Board. 
  
 1.11. Common Stock 
  
 Common Stock means the common stock of the Company. 
  
 1.12. Company 
  
 Company means Overnite Corporation. 
  
 1.13. Control Change Date 
  
 Control Change Date means the date on which a Change in Control occurs. If a Change in Control occurs on account of a series of transactions, the Control
Change Date is the date of the last of such transactions. 
  
 1.14.
Corresponding SAR 
  
 Corresponding SAR means an SAR
that is granted in relation to a particular Option and that can be exercised only upon the surrender to the Company, unexercised, of that portion of the Option to which the SAR relates. 
  
 1.15. Exchange Act 
  
 Exchange Act means the Securities Exchange Act of 1934, as amended from time to time. 
  
 1.16. Fair Market Value 
  
 Fair Market Value means, on any given date, the reported “closing” price of a share of Common Stock in the over-the-counter market on such date
as reported by the National Association of Securities Dealers, Inc., or if the Common Stock was not so traded on such day, then on the next preceding day that the Common Stock was so traded. 
  
 1.17. Good Reason 
  
 Good Reason means the occurrence, on or after a Control Change Date, and
without the affected Participant’s written consent, of any of the following: (i) the assignment to the Participant of duties that are materially inconsistent with the Participant’s duties immediately prior to a Change in Control (other
than pursuant to a transfer or promotion to a position of equal or enhanced responsibility or authority) or any diminution in the nature or scope of the Participant’s responsibilities from those in effect immediately prior to the Change in
Control; (ii) a reduction by the Company (or any Related Entity) in the Participant’s annual base salary or annual incentive opportunity from that in effect immediately prior to the Change in Control; (iii) a material reduction by the Company
(or any Related Entity) in the pension, thrift, medical or long term disability benefits provided to the Participant from those provided to the Participant 
  

 3 

 immediately prior to the Change in Control; or (iv) the failure by any successor (whether direct or indirect, by
purchase, merger, consolidation or otherwise), to all or substantially all of the business and/or assets of the Company, to expressly assume and agree to perform this Plan in the same manner and to the same extent that the Company would be required
to perform it if no such succession had taken place. 
  
 1.18. Initial
Value 
  
 Initial Value means, with respect to a
Corresponding SAR, the option price per share of the related Option and, with respect to an SAR granted independently of an Option, the price per share of Common Stock as determined by the Administrator on the date of the grant; provided, however,
that the price per share of Common Stock encompassed by the grant of an SAR shall not be less than the Fair Market Value on the date of grant. 
  
 1.19. Option 
  
 Option means a stock option that entitles the holder to purchase from the Company a stated number of shares of Common Stock at the price set forth in an
Agreement. 
  
 1.20. Participant 
  
 Participant means an employee of the Company or a Related Entity or a member
of the Board or the board of directors of a Related Entity who satisfies the requirements of Article IV and is selected by the Administrator to receive an award of Performance Shares, a Stock Award, an Incentive Award, an Option, an SAR, or a
combination thereof. 
  
 1.21. Performance Criteria 
  
 Performance Criteria means one or more of (a) cash flow and/or free cash
flow (before or after dividends), (b) earnings per share (including earnings before interest, taxes, depreciation and amortization) (diluted and basic earnings per share), (c) the price of Common Stock, (d) return on equity, (e) total shareholder
return, (f) return on capital (including return on total capital or return on invested capital), (g) return on assets or net assets, (h) market capitalization, (i) total enterprise value (market capitalization plus debt), (j) economic value added,
(k) debt leverage (debt to capital), (l) revenue, (m) income or net income, (n) operating income (o) operating profit or net operating profit, (p) operating margin or profit margin, (q) return on operating revenue, (r) cash from operations, (s)
operating ratio, (t) commodity or operating revenue and (u) market share. 
  
 1.22. Performance Shares 
  
 Performance
Shares means an award, in the amount determined by the Administrator and specified in an Agreement, stated with reference to a specified number of shares of Common Stock, that entitles the holder to receive a payment for each specified share equal
to the Fair Market Value of Common Stock on the date of payment. 
  

 4 

 1.23. Person 
  
 Person has the meaning set forth in Section 3(a)(9) of the Exchange Act, as modified and used in Sections 13(d) and 14(d) of the Exchange Act except that
such term does not include (i) the Company, its Affiliates or any Related Entity, (ii) a trustee or other fiduciary holding securities under an employee benefit plan maintained by the Company or any Related Entity, (iii) any underwriter temporarily
holding securities pursuant to any offering of such securities or (iv) a corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of stock in the Company. 
  
 1.24. Plan 
  
 Plan means the Overnite Corporation Stock Incentive Plan. 
  
 1.25. Related Entity 
  
 Related Entity means any entity that directly or indirectly, through one or more intermediaries, controls, or is controlled by, or is under common control
with, the Company. 
  
 1.26. Restoration Feature 
  
 Restoration Feature means the right to receive a new option covering the
number of shares of Common Stock surrendered to the Company pursuant to the exercise of an Option. The new Option shall have an exercise price equal to the Fair Market Value on the date such shares of Common Stock were surrendered, shall be
exercisable six months after the date of grant and shall otherwise be subject to the same terms and conditions as the related Option. 
  
 1.27. SAR 
  
 SAR means a stock appreciation right that entitles the holder to receive, with respect to each share of Common Stock encompassed by the exercise of such
SAR, the excess, if any, of the Fair Market Value at the time of exercise over the Initial Value. References to “SARs” include both Corresponding SARs and SARs granted independently of Options, unless the context requires otherwise.

  
 1.28. Stock Award 
  
 Stock Award means Common Stock awarded to a Participant under Article VIII,
including shares issued in settlement of benefit obligations under the Company’s Executive Incentive Compensation and Deferral Plan or any successor thereto. 
  

 5 

 ARTICLE II 
 PURPOSES 
  
 The
Plan is intended to assist the Company and Related Entities in recruiting and retaining individuals with ability and initiative by enabling such persons to participate in the future success of the Company and the Related Entities and to associate
their interests with those of the Company and its shareholders. The Plan is intended to permit the grant of both Options qualifying under Section 422 of the Code (“incentive stock options”) and Options not so qualifying, and the grant of
SARs, Stock Awards and Performance Shares. No Option that is intended to be an incentive stock option shall be invalid for failure to qualify as an incentive stock option. The proceeds received by the Company from the sale of Common Stock pursuant
to this Plan shall be used for general corporate purposes. 
  

 6 

 ARTICLE III 
 ADMINISTRATION 
  
 The Plan shall be administered by the Administrator. The Administrator shall have authority to grant Stock Awards, Performance Shares, Options and SARs upon such terms (not inconsistent with the provisions of this Plan), as the
Administrator may consider appropriate. Such terms may include conditions (in addition to those contained in this Plan) on the exercisability of all or any part of an Option or SAR or on the transferability or forfeitability of a Stock Award or an
award of Performance Shares, including by way of example and not of limitation, requirements that the Participant complete a specified period of employment or service with the Company or a Related Entity, requirements that the Company achieve a
specified level of financial performance or that the Company achieve a specified level of financial return. Notwithstanding any such conditions, the Administrator may, in its discretion, accelerate the time at which any Option or SAR may be
exercised, or the time at which a Stock Award may become transferable or nonforfeitable or both, or the time at which an award of Performance Shares may be settled. In addition, the Administrator shall have complete authority to interpret all
provisions of this Plan; to prescribe the form of Agreements; to adopt, amend, and rescind rules and regulations pertaining to the administration of the Plan; and to make all other determinations necessary or advisable for the administration of this
Plan. The express grant in the Plan of any specific power to the Administrator shall not be construed as limiting any power or authority of the Administrator. Any decision made, or action taken, by the Administrator in connection with the
administration of this Plan shall be final and conclusive. Neither the Administrator nor any member of the Committee shall be liable for any act done in good faith with respect to this Plan or any Agreement, Option, SAR, Stock Award or award of
Performance Shares. All expenses of administering this Plan shall be borne by the Company, a Related Entity or a combination thereof. 
  
 The Committee, in its discretion, may delegate to one or more officers of the Company all or part of the Committee’s authority and duties with
respect to grants and awards to individuals who are not subject to the reporting and other provisions of Section 16 of the Exchange Act. The Committee may revoke or amend the terms of a delegation at any time but such action shall not invalidate any
prior actions of the Committee’s delegate or delegates that were consistent with the terms of the Plan. 
  

 7 

 ARTICLE IV 
 ELIGIBILITY 
  
 Any
employee of the Company, any member of the Board or any employee or director of a Related Entity (including a corporation that becomes a Related Entity after the adoption of this Plan), is eligible to participate in this Plan if the Administrator,
in its sole discretion, determines that such person has contributed or can be expected to contribute to the profits or growth of the Company or a Related Entity. 
  

 8 

 ARTICLE V 
 STOCK SUBJECT TO PLAN 
  
 5.01.
Shares Issued 
  
 Upon the award of shares of Common
Stock pursuant to a Stock Award or in settlement of an award of Performance Shares, the Company may issue shares of Common Stock from its authorized but unissued Common Stock. Upon the exercise of any Option or SAR the Company may deliver to the
Participant (or the Participant’s broker if the Participant so directs), shares of Common Stock from its authorized but unissued Common Stock. 
  
 5.02. Aggregate Limit 
  
 The maximum aggregate number of shares of Common Stock that may be issued under this Plan, pursuant to the exercise of SARs and Options and the grant of
Stock Awards and the settlement of Performance Shares is 3,500,000 shares. The maximum aggregate number of shares that may be issued under this Plan as Stock Awards and in settlement of Performance Shares, is 1,500,000 shares. The maximum aggregate
number of shares that may be issued under this Plan and the maximum number of shares that may be issued as Stock Awards and in settlement of Performance Shares shall be subject to adjustment as provided in Article X. 
  
 5.03. Reallocation of Shares 
  
 If an Option is terminated, in whole or in part, for any reason other than
its exercise or the exercise of a Corresponding SAR, the number of shares of Common Stock allocated to the Option or portion thereof may be reallocated to other Options, SARs, Performance Shares and Stock Awards to be granted under this Plan. If an
SAR is terminated, in whole or in part, for any reason other than its exercise or the exercise of a related Option, the number of shares of Common Stock allocated to the SAR or portion thereof may be reallocated to other Options, SARs, Performance
Shares and Stock Awards to be granted under this Plan. If an award of Performance Shares is terminated, in whole or in part, the number of shares of Common Stock allocated to the Performance Shares or portion thereof may be reallocated to other
options, SARs, Performance Shares and Stock Awards to be granted under this Plan. If a Stock Award is forfeited or terminated, in whole or in part, for any reason, the number of shares of Common Stock allocated to the Stock Award or portion thereof
may be reallocated to other Options, SARs, Performance Shares and Stock Awards to be granted under this Plan. If shares of Common Stock are surrendered or withheld in satisfaction of tax withholding requirements the number of shares surrendered or
withheld may be reallocated to other Options, SARs, Performance Shares and Stock Awards to be granted under this Plan. 
  

 9 

 ARTICLE VI 
 OPTIONS 
  
 6.01. Award

  
 In accordance with the provisions of Article IV, the
Administrator will designate each individual to whom an Option is to be granted and will specify the number of shares of Common Stock covered by each such award; provided, however that no Participant may be granted Options in any calendar year
covering more than 300,000 shares of Common Stock. An Option may be granted with or without a Restoration Feature. 
  
 6.02. Option Price 
  
 The price per share for Common Stock purchased on the exercise of an Option shall be determined by the Administrator on the date of grant, but shall not
be less than the Fair Market Value on the date the Option is granted. Except for an adjustment authorized under Article XI, the Option price may not be reduced (by amendment or cancellation of the Option or otherwise) after the date of grant.

  
 6.03. Maximum Option Period 
  
 The maximum period in which an Option may be exercised shall be ten years
from the date such Option was granted. The terms of any Option may provide that it has a term that is less than such maximum period. 
  
 6.04. Nontransferability 
  
 Except as provided in Section 6.05, each Option granted under this Plan shall be nontransferable except by will or by the laws of descent and
distribution. In the event of any transfer of an Option (by the Participant or his transferee), the Option and any Corresponding SAR that relates to such Option must be transferred to the same person or persons or entity or entities. Except as
provided in Section 6.05, during the lifetime of the Participant to whom the Option is granted, the Option may be exercised only by the Participant. No right or interest of a Participant in any Option shall be liable for, or subject to, any lien,
obligation, or liability of such Participant. 
  
 6.05. Transferable
Options 
  
 Section 6.04 to the contrary notwithstanding,
if the Agreement provides, an Option that is not an incentive stock option may be transferred by a Participant to the Participant’s children, grandchildren, spouse, one or more trusts for the benefit of such family members or a partnership in
which such family members are the only partners, on such terms and conditions as may be permitted under Securities Exchange Commission Rule 16b-3 as in effect from time to time. The holder of an Option transferred pursuant to this section shall be
bound by the same terms and conditions that governed the Option during the period that it was held by the Participant; provided, however, that such transferee may not transfer the Option except by will or the laws of descent and distribution. In the
event of any transfer of an Option (by the Participant or his transferee), the Option and any Corresponding SAR that relates to such Option must be transferred to the same person or persons or entity or entities. 
  

 10 

 6.06. Employee Status 
  
 For purposes of determining the applicability of Section 422 of the Code (relating to incentive stock options), or in the
event that the terms of any Option provide that it may be exercised only during employment or continued service or within a specified period of time after termination of employment or service, the Administrator may decide to what extent leaves of
absence for governmental or military service, illness, temporary disability, or other reasons shall not be deemed interruptions of continuous employment or service. 
  
 6.07. Exercise 
  
 Subject to the provisions of this Plan and the applicable Agreement, an Option may be exercised in whole at any time or in part from time to time at such
times and in compliance with such requirements as the Administrator shall determine; provided, however, that incentive stock options (granted under the Plan and all plans of the Company and its Related Entities) may not be first exercisable in a
calendar year for stock having a Fair Market Value (determined as of the date an Option is granted) exceeding the limit prescribed by Code section 422(d). An Option granted under this Plan may be exercised with respect to any number of whole shares
less than the full number for which the Option could be exercised. A partial exercise of an Option shall not affect the right to exercise the Option from time to time in accordance with this Plan and the applicable Agreement with respect to the
remaining shares subject to the Option. The exercise of an Option shall result in the termination of any Corresponding SAR to the extent of the number of shares with respect to which the Option is exercised. 
  
 6.08. Payment 
  
 Unless otherwise provided by the Agreement, payment of the Option price shall be made in cash or a cash equivalent
acceptable to the Administrator. Subject to rules established by the Administrator, payment of all or part of the Option price may be made with shares of Common Stock which have been owned by the Participant for at least six months and which have
not been used for another Option exercise during the prior six months. If Common Stock is used to pay all or part of the Option price, the sum of the cash and cash equivalent and the Fair Market Value (determined as of the day preceding the date of
exercise) of the shares surrendered must not be less than the Option price of the shares for which the Option is being exercised. 
  
 6.09. Change in Control 
  
 Section 6.07 to the contrary notwithstanding, each outstanding Option shall be fully exercisable (in whole or in part at the discretion of the holder)
upon the termination of the Participant’s employment or service if (i) there is a Change in Control and (ii) within two years after the Control Change Date (x) the Participant resigns with Good Reason or (y) the Participant’s
employment or service is terminated by the Company or Related Entity for reasons other than Cause or the Participant’s death or disability. Section 6.07 to the contrary notwithstanding, each outstanding Option shall be fully exercisable (in
whole or in part at the discretion of the holder) during the period (i) beginning on the first day after the commencement 
  

 11 

 of a tender offer or exchange offer for shares of Common Stock (other than an offer made by the Company); provided that
shares are acquired pursuant to such offer and (ii) ending on the thirtieth day following the expiration of such offer. An Option that becomes exercisable pursuant to this Section 6.09 shall remain exercisable thereafter in accordance with the terms
of the Agreement. 
  
 6.10. Shareholder Rights 
  
 No Participant shall have any rights as a shareholder with respect to shares
subject to his Option until the date of exercise of such Option. 
  
 6.11.
Disposition of Stock 
  
 A Participant shall notify
the Company of any sale or other disposition of Common Stock acquired pursuant to an Option that was an incentive stock option if such sale or disposition occurs (i) within two years of the grant of an Option or (ii) within one year of the issuance
of the Common Stock to the Participant. Such notice shall be in writing and directed to the Secretary of the Company. 
  

 12 

 ARTICLE VII 
 SARS 
  
 7.01. Award

  
 In accordance with the provisions of Article IV, the
Administrator will designate each individual to whom SARs are to be granted and will specify the number of shares covered by each such award; provided, however, no Participant may be granted SARS in any calendar year covering more than 300,000
shares of Common Stock. For purposes of the foregoing limit, an Option and Corresponding SAR shall be treated as a single award. In addition, no Participant may be granted Corresponding SARs (under all incentive stock option plans of the Company and
its Affiliates) that are related to incentive stock options which are first exercisable in any calendar year for stock having an aggregate Fair Market Value (determined as of the date the related Option is granted) that exceeds the limit prescribed
by Code section 422(d). 
  
 7.02. Maximum SAR Period 
  
 The maximum period in which an SAR may be exercised shall be ten years from
the date such SAR was granted. The terms of any SAR may provide that it has a term that is less than such maximum period. 
  
 7.03. Nontransferability 
  
 Except as provided in Section 7.04, each SAR granted under this Plan shall be nontransferable except by will or by the laws of descent and distribution.
In the event of any such transfer, a Corresponding SAR and the related Option must be transferred to the same person or persons or entity or entities. Except as provided in Section 7.04, during the lifetime of the Participant to whom the SAR is
granted, the SAR may be exercised only by the Participant. No right or interest of a Participant in any SAR shall be liable for, or subject to, any lien, obligation, or liability of such Participant. 
  
 7.04. Transferable SARs 
  
 Section 7.03 to the contrary notwithstanding, if the Agreement provides, an
SAR, other than a Corresponding SAR that is related to an incentive stock option, may be transferred by a Participant to the Participant’s children, grandchildren, spouse, one or more trusts for the benefit of such family members or a
partnership in which such family members are the only partners, on such terms and conditions as may be permitted under Securities Exchange Commission Rule 16b-3 as in effect from time to time. The holder of an SAR transferred pursuant to this
section shall be bound by the same terms and conditions that governed the SAR during the period that it was held by the Participant; provided, however, that such transferee may not transfer the SAR except by will or the laws of descent and
distribution. In the event of any transfer of a Corresponding SAR (by the Participant or his transferee), the Corresponding SAR and the related Option must be transferred to the same person or person or entity or entities. 
  

 13 

 7.05. Exercise 
  
 Subject to the provisions of this Plan and the applicable Agreement, an SAR may be exercised in whole at any time or in part from time to time at such
times and in compliance with such requirements as the Administrator shall determine; provided, however, that a Corresponding SAR that is related to an incentive stock option may be exercised only to the extent that the related Option is exercisable
and only when the Fair Market Value exceeds the option price of the related Option. An SAR granted under this Plan may be exercised with respect to any number of whole shares less than the full number for which the SAR could be exercised. A partial
exercise of an SAR shall not affect the right to exercise the SAR from time to time in accordance with this Plan and the applicable Agreement with respect to the remaining shares subject to the SAR. The exercise of a Corresponding SAR shall result
in the termination of the related Option to the extent of the number of shares with respect to which the SAR is exercised. 
  
 7.06. Change in Control 
  
 Section 7.05 to the contrary notwithstanding, each outstanding SAR shall be fully exercisable (in whole or in part at the discretion of the holder) upon
the termination of the Participant’s employment or service if (i) there is a Change in Control and (ii) within two years after the Control Change Date (x) the Participant resigns with Good Reason or (y) the Participant’s
employment or service is terminated by the Company or Related Entity for reasons other than Cause or the Participant’s death or disability. Section 7.05 to the contrary notwithstanding, each outstanding SAR shall be fully exercisable (in whole
or in part at the discretion of the holder) during the period (i) beginning on the first day after the commencement of a tender offer or exchange offer for shares of Common Stock (other than one made by the Company); provided that shares are
acquired pursuant to such offer and (ii) ending on the thirtieth day following the expiration of such offer. An SAR that becomes exercisable pursuant to this Section 7.06 shall remain exercisable thereafter in accordance with the terms of the
Agreement. 
  
 7.07. Employee Status 
  
 If the terms of any SAR provide that it may be exercised only during
employment or continued service or within a specified period of time after termination of employment or service, the Administrator may decide to what extent leaves of absence for governmental or military service, illness, temporary disability or
other reasons shall not be deemed interruptions of continuous employment or service. 
  
 7.08. Settlement 
  
 At the
Administrator’s discretion, the amount payable as a result of the exercise of an SAR may be settled in cash, Common Stock, or a combination of cash and Common Stock. No fractional share will be deliverable upon the exercise of an SAR but a cash
payment will be made in lieu thereof. 
  

 14 

 7.09. Shareholder Rights 
  
 No Participant shall, as a result of receiving an SAR, have any rights as a shareholder of the Company until the date that
the SAR is exercised and then only to the extent that the SAR is settled by the issuance of Common Stock. 
  

 15 

 ARTICLE VIII 
 STOCK AWARDS 
  
 8.01.
Award 
  
 In accordance with the provisions of Article
IV, the Administrator will designate each individual to whom a Stock Award is to be made and will specify the number of shares of Common Stock covered by each such award; provided, however, that no Participant may receive Stock Awards in any
calendar year for more than 175,000 shares of Common Stock. 
  
 8.02.
Vesting 
  
 The Administrator, on the date of the
award, may prescribe that a Participant’s rights in a Stock Award shall be forfeitable or otherwise restricted for a period of time or subject to such conditions as may be set forth in the Agreement. By way of example and not of limitation, the
restrictions may postpone transferability of the shares or may provide that the shares will be forfeited if the Participant separates from the service of the Company and its Related Entities before the expiration of a stated period or if the
Company, a Related Entity, the Company and its Related Entities or the Participant fails to achieve stated performance objectives, including performance objectives stated with reference to Performance Criteria. If a Stock Award is not immediately
vested and transferable, the period that the shares are restricted shall be at least three years; provided, however, that the period that the shares are restricted shall be at least one year if the transferability, vesting or both is subject to the
satisfaction of performance objectives stated with reference to Performance Criteria. The Administrator, in its discretion, may waive the requirements for vesting or transferability for all or part of the shares subject to a Stock Award in
connection with a Participant’s termination of employment or service. 
  
 8.03. Employee Status 
  
 In the event
that the terms of any Stock Award provide that shares may become transferable and nonforfeitable thereunder only after completion of a specified period of employment or service, the Administrator may decide in each case to what extent leaves of
absence for governmental or military service, illness, temporary disability, or other reasons shall not be deemed interruptions of continuous employment or service. 
  
 8.04. Change in Control 
  
 Sections 8.02 and 8.03 to the contrary notwithstanding, each outstanding Stock Award shall be transferable and nonforfeitable upon the Participant’s
termination of employment or service if (i) there is a Change in Control and (ii) within two years after the Control Change Date (x) the Participant resigns with Good Reason or (y) the Participant’s employment or service is
terminated by the Company or Related Entity for reasons other than Cause or the Participant’s death or disability. Sections 8.02 and 8.03 to the contrary notwithstanding, each outstanding Stock Award shall be transferable and nonforfeitable on
the first day following the commencement of a tender offer or exchange offer for shares of Common Stock (other than one made by the Company), provided that shares are acquired pursuant to such offer. 
  

 16 

 8.05. Shareholder Rights 
  
 Prior to their forfeiture (in accordance with the applicable Agreement and while the shares of Common Stock granted pursuant
to the Stock Award may be forfeited or are nontransferable), a Participant will have all the rights of a shareholder with respect to a Stock Award, including the right to receive dividends and vote the shares; provided, however, that during such
period (i) a Participant may not sell, transfer, pledge, exchange, hypothecate, or otherwise dispose of shares of Common Stock granted pursuant to a Stock Award, (ii) the Company shall retain custody of the certificates evidencing shares of Common
Stock granted pursuant to a Stock Award, and (iii) the Participant will deliver to the Company a stock power, endorsed in blank, with respect to each Stock Award. The limitations set forth in the preceding sentence shall not apply after the shares
of Common Stock granted under the Stock Award are transferable and are no longer forfeitable. 
  

 17 

 ARTICLE IX 
 PERFORMANCE SHARE AWARDS 
  
 9.01. Award 
  
 In accordance with the
provisions of IV, the Administrator will designate each individual to whom an award of Performance Shares is to be made and will specify the number of shares of Common Stock covered by each such award; provided, however, that no Participant may
receive an award of Performance Shares in any calendar year for more than 100,000 shares of Common Stock. 
  
 9.02. Earning the Award 
  
 The Administrator, on the date of the grant of an award, shall prescribe that the Performance Shares, or a portion thereof, will be earned, and the Participant will be entitled to receive payment pursuant to the award of Performance Shares,
only upon the satisfaction of performance objectives or such other criteria as may be prescribed by the Administrator and set forth in the Agreement. By way of example and not of limitation, the performance objectives or other criteria may provide
that the Performance Shares will be earned only if the Participant remains in the employ or service of the Company or a Related Entity for a stated period or that the Company, a Related Entity, the Company and its Related Entities or the Participant
achieve stated objectives. The performance period shall be at least three years; provided, however, that the performance period shall be at least one year if the Agreement provides that the Performance Shares will be earned upon the satisfaction of
performance objectives stated with reference to Performance Criteria. Notwithstanding the preceding sentences of this Section 9.02, the Administrator, in its discretion, may reduce the duration of the performance period and may adjust the
performance objectives for outstanding Performance Shares in connection with a Participant’s termination of employment or service. 
  
 9.03. Payment 
  
 In the discretion of the Administrator, the amount payable when an award of Performance Shares is earned may be settled in cash, by the issuance of Common
Stock or a combination of cash and Common Stock. A fractional share shall not be deliverable when an award of Performance Shares is earned, but a cash payment will be made in lieu thereof. 
  
 9.04. Shareholder Rights 
  
 No Participant shall, as a result of receiving an award of Performance
Shares, have any rights as a shareholder until and to the extent that the award of Performance Shares is earned and settled by the issuance of Common Stock. After an award of Performance Shares is earned, if settled completely or partially in Common
Stock, a Participant will have all the rights of a shareholder with respect to such Common Stock. 
  
 9.05. Nontransferability 
  
 Except as provided in Section 9.06, Performance Shares granted under this Plan shall be nontransferable except by will or by the laws of descent and distribution. No right or interest of a Participant in any Performance Shares shall be
liable for, or subject to, any lien, obligation, or liability of such Participant. 
  

 18 

 9.06. Transferable Performance Shares 
  
 Section 9.05 to the contrary notwithstanding, if the Agreement provides, an award of Performance Shares may be transferred
by a Participant to the Participant’s children, grandchildren, spouse, one or more trusts for the benefit of such family members or a partnership in which such family members are the only partners, on such terms and conditions as may be
permitted under Securities Exchange Commission Rule 16b-3 as in effect from time to time. The holder of Performance Shares transferred pursuant to this section shall be bound by the same terms and conditions that governed the Performance Shares
during the period that they were held by the Participant; provided, however that such transferee may not transfer Performance Shares except by will or the laws of descent and distribution. 
  
 9.07. Employee Status 
  
 In the event that the terms of any Performance Share award provide that no
payment will be made unless the Participant completes a stated period of employment or service, the Administrator may decide to what extent leaves of absence for government or military service, illness, temporary disability, or other reasons shall
not be deemed interruptions of continuous employment or service. 
  
 9.08.
Change in Control 
  
 Section 9.02 to the contrary
notwithstanding, each outstanding Performance Share award shall be earned upon the Participant’s termination of employment or service if (i) there is a Change in Control and (ii) within two years after the Control Change Date (x) the
Participant resigns with Good Reason or (y) the Participant’s employment or service is terminated by the Company or Related Entity for reasons other than Cause of the Participant’s death or disability. Section 9.02 to the contrary
notwithstanding, each outstanding Performance Share award shall be earned on the first day following the commencement of a tender offer or exchange offer (other than one made by the Company), provided that shares are acquired pursuant to such offer.
The amount payable for Performance Shares that are earned pursuant to this Section 9.08 shall be settled in cash or Common Stock or a combination of cash and Common Stock as determined by the Administrator in its discretion as soon as practicable
after the Participant’s termination or the first day following such tender offer or exchange offer. 
  

 19 

 ARTICLE X 
 ADJUSTMENT UPON CHANGE IN COMMON STOCK 
  
 The maximum number of shares as to which Options, SARs, Performance Shares and Stock Awards may be granted under this Plan; and the terms of outstanding Stock Awards, Options, Performance Shares and SARs; and the per
individual limitations on the number of shares of Common Stock for which Options, SARs, Stock Awards and Performance Shares may be granted shall be adjusted as the Committee shall determine to be equitably required in the event that (a) the Company
(i) effects one or more stock dividends, stock split-ups, subdivisions or consolidations of shares or (ii) engages in a transaction to which Section 424 of the Code applies, (b) there occurs any other event which, in the judgment of the Committee
necessitates such action or (c) there is a Change in Control. Any determination made under this Article X by the Committee shall be final and conclusive. 
  
 The issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, for cash or property, or for
labor or services, either upon direct sale or upon the exercise of rights or warrants to subscribe therefore, or upon conversion of shares or obligations of the Company convertible into such shares or other securities, shall not affect, and no
adjustment by reason thereof shall be made with respect to, the maximum number of shares as to which Options, SARs, Performance Shares and Stock Awards may be granted, the per individual limitations on the number of shares of Common Stock for which
Options, SARs, Stock Awards and Performance Shares may be granted or the terms of outstanding Stock Awards, Options, Performance Shares or SARs. 
  
 The Committee may make Stock Awards and may grant Options, SARs and Performance Shares in substitution for performance shares, phantom shares, stock
awards, stock options, stock appreciation rights, or similar awards held by an individual who becomes an employee of the Company or a Related Entity in connection with a transaction or event described in the first paragraph of this Article X.
Notwithstanding any provision of the Plan (other than the limitation of Section 5.02), the terms of such substituted Stock Awards or Option, SAR or Performance Shares grants shall be as the Committee, in its discretion, determines is appropriate.

  

 20 

 ARTICLE XI 
 COMPLIANCE WITH LAW AND APPROVAL OF REGULATORY BODIES 
  
 No Option or SAR shall be exercisable, no Common Stock shall be issued, no certificates for shares of Common Stock shall be delivered, and no payment
shall be made under this Plan except in compliance with all applicable federal and state laws and regulations (including, without limitation, withholding tax requirements), any listing agreement to which the Company is a party, and the rules of all
domestic stock exchanges on which the Company’s shares may be listed. The Company shall have the right to rely on an opinion of its counsel as to such compliance. Any share certificate issued to evidence Common Stock when a Stock Award is
granted, a Performance Share is settled or for which an Option or SAR is exercised may bear such legends and statements as the Administrator may deem advisable to assure compliance with federal and state laws and regulations. No Option or SAR shall
be exercisable, no Stock Award or Performance Share shall be granted, no Common Stock shall be issued, no certificate for shares shall be delivered, and no payment shall be made under this Plan until the Company has obtained such consent or approval
as the Administrator may deem advisable from regulatory bodies having jurisdiction over such matters. 
  

 21 

 ARTICLE XII 
 GENERAL PROVISIONS 
  
 12.01.
Effect on Employment and Service 
  
 Neither the
adoption of this Plan, its operation, nor any documents describing or referring to this Plan (or any part thereof), shall confer upon any individual any right to continue in the employ or service of the Company or a Related Entity or in any way
affect any right or power of the Company or a Related Entity to terminate the employment or service of any individual at any time with or without assigning a reason therefore. 
  
 12.02. Unfunded Plan 
  
 The Plan, insofar as it provides for grants, shall be unfunded, and the Company shall not be required to segregate any assets that may at any time be
represented by grants under this Plan. Any liability of the Company to any person with respect to any grant under this Plan shall be based solely upon any contractual obligations that may be created pursuant to this Plan. No such obligation of the
Company shall be deemed to be secured by any pledge of, or other encumbrance on, any property of the Company. 
  
 12.03. Rules of Construction 
  
 Headings are given to the articles and sections of this Plan solely as a convenience to facilitate reference. The reference to any statute, regulation, or other provision of law shall be construed to refer to any
amendment to or successor of such provision of law. 
  
 12.04. Tax
Withholding 
  
 Each Participant shall be responsible for
satisfying any income and employment tax withholding obligation attributable to participation in this Plan. In accordance with procedures established by the Administrator, a Participant may surrender shares of Common Stock, or receive fewer shares
of Common Stock than otherwise would be issuable, in satisfaction of all or part of that obligation. 
  
 12.05. Limitation on Benefits 
  
 (a) Subject to subsection (e) but despite any other provision of this Plan, if the Accounting Firm determines that receipt of benefits or payments under this Plan would subject a Participant to tax under Code section
4999, it must determine whether some amount of the benefits or payments would meet the definition of a “Reduced Amount.” If the Accounting Firm determines that there is a Reduced Amount, the total benefits and payments must be reduced to
such Reduced Amount, but not below zero. 
  
 (b) If the Accounting
Firm determines that the benefits and payments should be reduced to the Reduced Amount, the Company must promptly notify the Participant of that determination, including a copy of the detailed calculations by the Accounting Firm. All determinations
made by the Accounting Firm under this section are binding upon the Company and the Participant. 
  

 22 

 (c) It is the intention of the Company and the Participant to reduce the benefits and payments under this
Plan only if the aggregate Net After Tax Receipts to the Participant would thereby be increased. As a result of the uncertainty in the application of Code section 4999 at the time of the initial determination by the Accounting Firm under this
section, however, it is possible that amounts will have been paid or distributed under the Plan to or for the benefit of a Participant which should not have been so paid or distributed (“Overpayment”) or that additional amounts which will
not have been paid or distributed under the Plan to or for the benefit of a Participant could have been so paid or distributed (“Underpayment”), in each case, consistent with the calculation of the Reduced Amount. If the Accounting Firm,
based either upon the assertion of a deficiency by the Internal Revenue Service against the Company or the Participant which the Accounting Firm believes has a high probability of success or controlling precedent or other substantial authority,
determines that an Overpayment has been made, any such Overpayment must be treated (if permitted by applicable law) for all purposes as a loan ab initio for which the Participant must repay the Company together with interest at the applicable
federal rate under Code section 7872(f)(2); provided, however, that no such loan may be deemed to have been made and no amount shall be payable by Participant to the Company if and to the extent such deemed loan and payment would not either reduce
the amount on which Participant is subject to tax under Code section 1 or 4999 or generate a refund of such taxes. If the Accounting Firm, based upon controlling precedent or other substantial authority, determines that an Underpayment has occurred,
the Accounting Firm must promptly notify the Administrator of the amount of the Underpayment and such amount, together with interest at the applicable federal rate under Code section 7872(f)(2), must be paid to the Participant. 
  
 (d) For purposes of this section, (i) “Net After Tax Receipt” means
the Present Value of a payment or benefit under this Plan net of all taxes imposed on Participant with respect thereto under Code sections 1 and 4999, determined by applying the highest marginal rate under Code section 1 which applied to the
Participant’s taxable income for the immediately preceding taxable year; (ii) “Present Value” means the value determined in accordance with Code section 280G(d)(4); and (iii) “Reduced Amount” means the smallest aggregate
amount of all payments or benefit under this Plan which (a) is less than the sum of all payments or benefit under this Plan and (b) results in aggregate Net After Tax Receipts which are equal to or greater than the Net After Tax Receipts which would
result if the aggregate payments or benefit under this Plan were any other amount less than the sum of all payments or benefit under this Plan. 
  
 (e) This section shall not apply to awards made to any Participant if an Agreement or other agreement between the Participant and the Company provides
that the Company shall indemnify the Participant against any liability that the Participant may incur under Section 4999 of the Code. 
  

 23 

 ARTICLE XIII 
 AMENDMENT 
  
 The
Board may amend or terminate this Plan from time to time; provided, however, that no amendment may become effective until shareholder approval is obtained if (i) the amendment increases the aggregate number of shares of Common Stock that may be
issued under the Plan (other than an adjustment pursuant to Article X) or (ii) the amendment changes the class of individuals eligible to become Participants. No amendment shall, without a Participant’s consent, adversely affect any rights of
such Participant under any Stock Award, Performance Share award, Option or SAR outstanding at the time such amendment is made. 
  

 24 

 ARTICLE XIV 
 DURATION OF PLAN 
  
 No Stock Award, Performance Share award, Option or SAR may be granted under this Plan more than ten years after the earlier of the date the Plan is adopted by the Board or the date that the Plan is approved in accordance with Article XV.
Stock Awards, Performance Share awards, Options and SARs granted before that date shall remain valid in accordance with their terms. 
  

 25 

 ARTICLE XV 
 EFFECTIVE DATE OF PLAN 
  
 Options, SARs and Performance Shares may be granted under this Plan upon its adoption by the Board, provided that no Option, SAR or Performance Shares shall be effective or exercisable unless this Plan is approved by a majority of the votes
cast by the Company’s shareholders, voting either in person or by proxy, at a duly held shareholders’ meeting at which a quorum is present or by unanimous consent. Stock Awards may be granted under this Plan, upon the later of its adoption
by the Board or its approval by shareholders in accordance with the preceding sentence. 
  

 26Stock Incentive Plan of Overnite Corporation

 Exhibit 10.8 
  
 OVERNITE CORPORATION 
  
 EXECUTIVE INCENTIVE COMPENSATION AND DEFERRAL PLAN 

 ARTICLE I 
 PURPOSE OF PLAN 
  
 The purpose of this Plan is to promote the success of the Company and its Affiliates by providing incentive compensation and tax deferral opportunities to key executives who contribute in a significant manner to the operations and business
of the Company and its Affiliates. 
  

 1 

 ARTICLE II 
 DEFINITIONS 
  
 2.01.
Accountholder 
  
 Accountholder means any person
who has received a Deferred Award or is credited with a Stock Deferral under Article VI or a stock gain deferral under Article VII. 
  
 2.02. Accounting Firm 
  
 Accounting Firm means the independent accounting firm engaged to audit the Company’s financial statements. 
  
 2.03. Agreement 
  
 Agreement means a written agreement (including any amendment or supplement thereto) between the Company and an Executive
specifying the terms and conditions of an Incentive Award. 
  
 2.04.
Award 
  
 Award means an Incentive Award or other
annual cash bonus. 
  
 2.05. Beneficiary 
  
 Beneficiary means any person or persons designated in writing by an
Accountholder to the Committee on a form prescribed by it for that purpose, which designation shall be revocable at any time by the Accountholder prior to his death, provided that, in the absence of such a designation or the failure of the person or
persons so designated to survive the Accountholder, payments or distributions shall be made to the Accountholder’s estate and provided further that no payment or distribution shall be made during the lifetime of the Accountholder to his
Beneficiary. 
  
 2.06. Board 
  
 Board means the Board of Directors of the Company. 
  
 2.07. Business Day 
  
 Business Day means any day other than a Saturday or Sunday or other day on
which the principal stock exchange on which the Company Common Stock is listed for trading is authorized or obligated to be closed. 
  
 2.08. Cause 
  
 Cause means that the Participant has been convicted of a felony that involves the misappropriation of the assets of the Company or a Related Entity or
that materially injures the business reputation of the Company or a Related Entity. 
  

 2 

 2.09. Change in Control 
  
 Change in Control has the same meaning as set forth in the Overnite Corporation Stock Incentive Plan. 
  
 2.10. Code 
  
 Code means the Internal Revenue Code of 1986, and any amendments thereto. 
  
 2.11. Committee 
  
 Committee means the Compensation Committee of the Board. 
  
 2.12. Control Change Date 
  
 Control Change Date means the date on which a Change in Control occurs. If a Change in Control occurs on account of a series of transactions, the Control
Change Date is the date of the last of such transactions. 
  
 2.13. Deferred
Award 
  
 Deferred Award means an Award which an
Executive to whom the Award is made shall have elected to defer until the earlier of either (i) a date certain in any year prior to Termination or (ii) after Termination, in accordance with Article V and which until paid shall, subject to paragraph
(b) of Section 5.03, be represented by Investment Accounts maintained for such Executive in accordance with Section 5.03. 
  
 2.14. Deferred Stock Account 
  
 Deferred Stock Account means the account established under Article VI. 
  
 2.15. Distribution Date 
  
 Distribution Date means the date or dates on which an Executive elects to have a Deferred Award paid pursuant to his election under Section 5.01.

  
 2.16. Executive 
  
 Executive means any person who was a regular employee of the Company or an
Affiliate (including directors who are also such employees) for all or part of the Year in respect of which Awards are made and who the Committee, in its sole discretion, has designated an “Executive” for purposes of the Plan. 

 
 2.17. Good Reason 
  
 Good Reason means the occurrence, on or after a Control Change Date, and
without the affected Executive’s written consent, of any of the following: (i) the assignment to the Executive of duties that are materially inconsistent with the Executive’s duties immediately prior to a Change in Control (other than
pursuant to a transfer or 
  

 3 

 promotion to a position of equal or enhanced responsibility or authority) or any diminution in the nature or scope of the
Executive’s responsibilities from those in effect immediately prior to the Change in Control; (ii) a reduction by the Company (or any Related Entity) in the Executive’s annual base salary or annual incentive opportunity from that in effect
immediately prior to the Change in Control; (iii) a material reduction by the Company (or any Related Entity) in the pension, thrift, medical or long term disability benefits provided to the Executive from those provided to the Executive immediately
prior to the Change in Control; or (iv) the failure by any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise), to all or substantially all of the business and/or assets of the Company, to expressly assume and
agree to perform this Plan in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. 
  
 2.18. Immediate Cash Award 
  
 Immediate Cash Award means an Award payable in cash as promptly as practicable after the close of the Year for which the Award is made or, in the sole
discretion of the Committee, in December of the year for which the award is made. 
  
 2.19. Incentive Award 
  
 Incentive Award
means an award which, subject to such terms and conditions as may be prescribed by the Committee, entitles the Participant to receive a cash payment from the Company or a Related Entity under Article IV. 
  
 2.20. Investment Account 
  
 Investment Account means one of the accounts established by the Company
pursuant to Section 5.03. 
  
 2.21. Performance Criteria 

 
 Performance Criteria means one or more of (a) cash flow and/or free cash
flow (before or after dividends), (b) earnings per share (including earnings before interest, taxes, depreciation and amortization) (diluted and basic earnings per share), (c) the price of Common Stock, (d) return on equity, (e) total shareholder
return, (f) return on capital (including return on total capital or return on invested capital), (g) return on assets or net assets, (h) market capitalization, (i) total enterprise value (market capitalization plus debt), (j) economic value added,
(k) debt leverage (debt to capital), (l) revenue, (m) income or net income, (n) operating income (o) operating profit or net operating profit, (p) operating margin or profit margin, (q) return on operating revenue, (r) cash from operations, (s)
operating ratio, (t) commodity or operating revenue and (u) market share. 
  
 2.22. Plan 
  
 Plan means this Executive
Incentive Compensation and Deferral Plan as in effect from time to time. 
  

 4 

 2.23. Related Entity 
  
 Related Entity means any entity that directly or indirectly, through one or more intermediaries, controls, or is controlled
by, or is under common control with, the Company. 
  
 2.24. Stock
Deferral 
  
 Stock Deferral means the benefit, payable in
whole shares of Company common stock, in accordance with Article VI. 
  
 2.25.
Stock Gain Account 
  
 Stock Gain Account means the
account established under Article VII. 
  
 2.26. Termination

  
 Termination means termination of employment with the Company
and its Subsidiaries, for any reason, including retirement and death. 
  
 2.27.
Valuation Date 
  
 Valuation Date means each
Business Day or any other date on which the Committee determines that a valuation of Investment Accounts shall be made. 
  
 2.28. Year 
  
 Year means a calendar year. 
  

 5 

 ARTICLE III 
 ADMINISTRATION OF THE PLAN 
  
 The Plan shall be administered by the Committee. The Committee shall be responsible for the administration and interpretation of the Plan. The Committee shall supervise and be responsible for the maintenance of the
various accounts under the Plan and for determining the amounts and the times of payments or distributions of benefits under the Plan. The Committee may delegate its authority under the Plan to one or more officers of the Company and may grant
authority to such person to execute agreements or other documents relating to the administration of the Plan as such person deems necessary or appropriate. 
  
 In addition, the Committee’s delegate may make (a) all technical, administrative, regulatory and compliance amendments to the Plan and (b) any other
amendment to the Plan that will not significantly increase the cost of the Plan to the Company as such person deems necessary or appropriate. All determinations of the Committee and the Committee’s delegate shall be final. 
  

 6 

 ARTICLE IV 
 INCENTIVE AWARDS 
  
 4.01.
Award 
  
 The Committee shall designate Executives
to whom Incentive Awards are made. All Incentive Awards shall be finally determined exclusively by the Committee under the procedures established by the Committee. With respect to an Incentive Award based on a performance period of one year or less,
no Executive may receive an Incentive Award payment in any calendar year that exceeds $ 750,000. With respect to an Incentive Award based on a performance period of more than one year, no Executive may receive an Incentive Award payment in any
calendar year that exceeds the product of (i) $ 65,000 and (ii) the number of months in the performance period. 
  
 4.02. Terms and Conditions 
  
 The Committee, at the time an Incentive Award is made, shall specify the terms and conditions which govern the award. Such terms and conditions shall
prescribe that the Incentive Award shall be earned only upon, and to the extent that, performance objectives are satisfied during a performance period that ends after the grant of the Incentive Award. By way of example and not of limitation, the
performance objectives may provide that the Incentive Award will be earned only if the Company, a Related Entity or the Company and its Related Entities achieve stated objectives, including objectives stated with reference to Performance Criteria.
The Committee, at the time an Incentive Award is made, shall also specify when amounts shall be payable under the Incentive Award and whether amounts shall be payable in the event of the Participant’s death, disability, or retirement.

  
 4.03. Nontransferability 
  
 Except as provided in Section 4.04, Incentive Awards granted under this Plan
shall be nontransferable except by will or by the laws of descent and distribution. No right or interest of an Executive in an Incentive Award shall be liable for, or subject to, any lien, obligation, or liability of such Executive. 
  
 4.04. Transferable Incentive Awards 
  
 Section 4.03 to the contrary notwithstanding, if provided in an Agreement,
an Incentive Award may be transferred by an Executive to the Executive’s children, grandchildren, spouse, one or more trusts for the benefit of such family members or to a partnership in which such family members are the only partners, on such
terms and conditions as may be permitted by Rule 16b-3 under the Exchange Act as in effect from time to time. The holder of an Incentive Award transferred pursuant to this Section shall be bound by the same terms and conditions that governed the
Incentive Award during the period that it was held by the Executive; provided, however, that such transferee may not transfer the Incentive Award except by will or the laws of descent and distribution. 
  

 7 

 4.05. Employee Status 
  
 If the terms of an Incentive Award provide that a payment will be made thereunder only if the Executive completes a stated
period of employment or service, the Committee may decide to what extent leaves of absence for governmental or military service, illness, temporary disability or other reasons shall not be deemed interruptions of continuous employment or service.

  
 4.06. Change in Control 
  
 Section 4.02 to the contrary notwithstanding, each outstanding Incentive
Award shall be earned in its entirety upon the Executive’s termination of employment or service if (i) there is a Change in Control and (ii) within two years after the Control Change Date (x) the Executive resigns with Good Reason or
(y) the Executive’s employment or service is terminated by the Company or Related Entity for reasons other than Cause or the Executive’s death or disability. Section 4.02 to the contrary notwithstanding, each outstanding Incentive
Award shall be earned in its entirety on the first day following the commencement of a tender offer or exchange offer (other than one made by the Company), provided that shares are acquired pursuant to such offer. 
  
 4.07. Shareholder Rights 
  
 No Executive shall, as a result of receiving an Incentive Award, have any
rights as a shareholder of the Company or any Related Entity on account of such award. 
  

 8 

 ARTICLE V 
 DEFERRED ELECTIONS 
  
 5.01.
Deferral Election 
  
 (a) Prior to September 30 (or
such later date as may be prescribed by the Committee) of each Year, an Executive may file with the Committee an election on a form prescribed by the Committee for such purpose specifying the percent (in multiples of 1%) of any Award which may be
granted to him with respect to such Year that Executive elects (i) to receive in the form of an Immediate Cash Award, (ii) to defer as a Deferred Award under this Article V or (iii) to defer as a Stock Deferral under Article VI. If an Executive has
not been so designated as eligible for Deferred Awards, or an election for Deferred Awards is not in effect for him, any Award granted to him for any Year shall be paid in the form of an Immediate Cash Award. 
  
 (b) An Accountholder, whether or not currently employed by the Company or a
Related Entity, may elect to convert the value of his account, if any, in any Investment Account to equivalent value accounts in any other Investment Accounts as of a Valuation Date, provided that the Committee has received such notice of the
conversion as the Committee may require, and provided further that, unless the Committee shall in its sole discretion determine otherwise, an Accountholder may make conversions only in such amounts and at such times as are allowable for changes in
investment elections under the terms of the Company’s Code section 401(k) Plan. The Committee shall cause such conversions to be effected by transferring equivalent amounts from the one such account to the other, all as of such Valuation Date.

  
 (c) In addition, each Executive also shall specify on a form
prescribed by the Committee for such purpose whether he wishes payment of Deferred Awards to be made on the earlier of either (i) a date certain in any year prior to Termination, such payment to be in full in cash on such date, or (ii) upon
Termination in accordance with the provisions of Sections 5.04 through 5.06. For Deferred Awards deferred until Termination, the Executive shall select one of the payment methods outlined in Section 5.04 at the time an election is made. 

 
 (d) An election made as to the date for the payment of a Deferred Award
shall be subject to change by such Executive before September 30 of any Year on a form prescribed by the Committee for such purpose with respect to any awards made for such Year. An Executive may change the payment method for a Deferred Award
deferred until Termination pursuant to Section 5.04 at any time provided, however, that the change in payment method is made at least six (6) months prior to the effective date of Termination and in the Year prior to the Year that includes the
effective date of Termination. 
  
 5.02. Redeferral Election

  
 For awards deferred to a date or dates certain, an Executive
may make an election to extend a Distribution Date (a “Redeferral Election”) for all or a portion of a Deferred 
  

 9 

 Award to a future date certain in any year prior to Termination or until Termination or a combination thereof. For
Redeferral Elections to a future date certain to be effective, the Committee must receive the Redeferral Election at least six (6) months prior to the date on which the Deferred Award is payable and in the Year prior to the Year in which the
Deferred Award is payable. For Redeferral Elections to Termination to be effective, the Committee must receive the Redeferral Election before the earlier of at least six (6) months prior to the effective date of Termination or six (6) months prior
to the date on which the Deferred Award is payable and in the earlier of the Year prior to the Year that includes the effective date of Termination or the Year prior to the Year in which the Deferred Award is payable. The date of the redeferral,
whether a future date certain or Termination, shall not be earlier than the Distribution Date previously selected by the Executive. 
  
 All Redeferral Elections must be made in writing on such forms and pursuant to such rules as the Committee may prescribe. For Deferred Awards redeferred
until Termination, the Executive shall select one of the payment methods outlined in Section 5.04 at the time a Redeferral Election is made. 
  
 5.03. Investment Accounts 
  
 (a) The Company shall from time to time establish on its books one or more Investment Accounts. In the case of each Executive, if and when a Deferred
Award is credited to him, the Committee shall credit to an account maintained for him in one or more Investment Accounts the equivalent amount of such award in accordance with his election. Each Investment Account shall have such name, and be
charged or credited pursuant to such method, as the Committee shall determine upon establishment of such Investment Account. The Committee may change such names or methods for any Investment Account, but no such change shall reduce any amount
previously accrued in an Accountholder’s account. The Committee shall cause each Investment Account to be valued as of each Valuation Date by such person or persons as it in its sole discretion shall determine and such valuation shall be
conclusive for all purposes of the Program. The value of any Investment Account for the purpose of making payment of a Deferred Award shall be the value of such Investment Account as of the Valuation Date last preceding such payment. Compensation
paid in respect of any Investment Account shall result in a corresponding reduction in the value of such accounts. The amounts credited in Investment Accounts shall represent general liabilities of the Company and shall not constitute a trust fund
or otherwise create any property interest in any Accountholder or his Beneficiary. 
  
 (b) Anything in this Plan to the contrary notwithstanding, the Committee may at any time under such circumstances as it in its sole discretion may determine, convert all the accounts of Accountholders in the
Investment Accounts into cash credits, with future credits to the accounts of Accountholders being made solely in cash. Accounts shall be so converted on the basis of the value thereof as of the last preceding Valuation Date. Any such cash credits
to the accounts of Accountholders shall, after such conversion, solely bear interest until paid to the Accountholder or his Beneficiary compounded annually at such annual rate of interest as may be fixed by the Committee. 
  

 10 

 The granting and payment of Deferred Awards in respect of such cash credits shall otherwise be in accordance with the
other provisions of the Program with such adjustments therein as the Committee may deem appropriate. 
  
 5.04. Payment of Deferred Awards 
  
 (a) Upon termination of an Executive, the Committee shall cause cash in respect of any balances in any Investment Account to be paid or delivered to him or his Beneficiary as selected by the Executive according to his
election as follows: 
  

	 	(i)	in a single distribution, an amount in cash equal to the value of all Investment Accounts maintained for him, all such cash being paid in the Year of his Termination or in January
of the following Year; or; 

  

	 	(ii)	over such number of Years, but not exceeding fifteen, in annual installments of an aggregate amount of cash equal in value at the time of each installment payment to the value of
all Investment Accounts maintained for him at the Valuation Date next preceding payment divided by the remaining number of such annual installments, the first of such installments to be paid or delivered in the Year of his Termination or in January
of the following year and subsequent installments to be paid or delivered in January of each subsequent Year; or 

  

	 	(iii)	at a specified future date not to exceed 15 years from the date of such Termination in a single distribution, an amount of cash equal to the value of all Investment Accounts
maintained for him. Income in respect of Investment Accounts will be paid in cash quarterly to such Executive or his Beneficiary commencing with the first day of the calendar quarter coincident with or next following such Executive’s
Termination. 

  
 (b) The most recent election of
payment method made by the Executive will apply to all Deferred Awards deferred until Termination provided that the election was made at least six (6) months prior to the effective date of Termination and in the Year prior to the Year that includes
the effective date of Termination. The Committee maintains the sole discretion with respect to how any balances in the accounts maintained for such Executive in any Investment Account are paid or delivered to him or to his Beneficiary for any
Termination occurring prior to the Executive’s election becoming effective. 
  
 (c) All payments or distributions attributable to each Deferred Award of an Executive after his Termination shall be made by the Company on its behalf or on behalf of the Related Entity by which he was employed during
the Year in which such Deferred Award was earned. The Related Entity shall reimburse the Company in the amount of such paid Deferred Awards. 
  

 11 

 (d) Deferred Awards elected to be paid on a date or dates certain in any year or years prior to
Termination shall be paid to the Executive in full in cash on such date or dates. In the case of Termination, any Deferred Awards elected to be paid on a date or dates certain shall be paid to the Executive upon Termination or as soon as
administratively feasible thereafter. 
  
 5.05. Accelerated
Distribution 
  
 At any time before or after Termination
of an Executive who shall have elected to receive one or more Deferred Awards, the Committee, if it finds in its sole discretion that continued deferral of such Awards would result in undue hardship to such Executive or his Beneficiary, may
accelerate and pay in cash all or any part of such Deferred Award or Deferred Awards by converting the value of the accounts maintained for him in Investment Accounts into the cash equivalent thereof on the same basis as if a payment in cash were
being made as provided in Section 5.04. On the death of an Executive after his Termination, the Committee, in its sole discretion, may accelerate one or more installments, and change the form of payment or distribution in accordance with Section
5.04, of any balance of his Deferred Awards and, in the event of relevant changes in the Code, regulations and rulings or on termination of the Plan, the Committee may, in its sole discretion, so accelerate or change the form of payment or
distribution of any or all Deferred Awards. 
  
 5.06. Change in
Control 
  
 If a Change in Control shall be deemed to
have occurred, then each Executive with an account maintained for him in an Investment Account shall be entitled to receive, at his option, payment in accordance with Section 5.07. 
  
 5.07. Early Payment 
  
 Notwithstanding the other provisions of the Plan to the contrary, an Executive may request a withdrawal from his accounts maintained for him in any
Investment Account by filing a request with the Committee or its designee in writing. Payment will be made to the Executive within thirty days of the approval of such a request. Any withdrawal under this Section will be charged with a ten percent
early withdrawal penalty that will be withheld from the amount withdrawn and such amount withheld shall be irrevocably forfeited. 
  

 12 

 ARTICLE VI 
 STOCK DEFERRALS 
  
 6.01.
Stock Deferral Election 
  
 (a) Prior to September
30 (or such later date as may be prescribed by the Committee) of each Year, an Executive may file with the Committee on a form prescribed by the Committee for such purpose specifying the percent (in multiples of 1%) of any Incentive Award which may
be granted to him with respect to such Year that Executive elects to receive as a Stock Deferral. 
  
 (b) The Deferred Stock Account of an Executive who elects a Stock Deferral in accordance with subsection 6.01(a) shall be credited with notional shares of
Company common stock. The number of notional shares so credited shall be determined (i) by dividing the amount of the deferred Incentive Award by the fair market value of the Company common stock on the day the Incentive Award is approved by the
Committee and (ii) multiplying that quotient by one and one-half. 
  
 6.02.
Dividend Equivalents 
  
 The Company shall pay the
Executive, in cash, an amount equal to the product of (i) the value of any dividend paid on the Company common stock and (ii) the number of whole notional shares credited to the Executive’s Deferred Stock Account on the record date for the
payment of the dividend. The Company shall pay the Executive as soon as practicable following the date on which the dividend is paid to the Company’s shareholders. 
  
 6.03. Vesting and Termination of Employment 
  
 (a) The Executive’s interest in the Deferred Stock Account attributable to the deferral of an Incentive Award for any
Year shall be vested and nonforfeitable on the third anniversary of the date that the Incentive Award was approved by the Committee if the Executive remains in the continuous employ of the Company or a Related Entity until such date. 
  
 (b) Except as determined by the Committee in its discretion and except as
provided in the following subsections, the Executive’s interest in the Deferred Stock Account attributable to the deferral of an Incentive Award for any Year shall be forfeited in the event of the Executive’s Termination before the third
anniversary of the date that the Incentive Award was approved by the Committee. 
  
 (c) The Executive’s interest in the Deferred Stock Account attributable to the deferral of an Incentive Award for any Year shall be vested and nonforfeitable as of the Executive’s Termination if the
Executive remains in the continuous employ of the Company or a Related Entity until the Executive’s Termination on account of death or disability (as determined by the Committee). 
  

 13 

 (d) The Executive’s interest in a portion of the Deferred Stock Account attributable to the deferral
of an Incentive Award for any Year shall be vested and nonforfeitable as of the Executive’s Termination if the Executive’s employment ends because (i) the Executive resigns under a Company-sponsored voluntary termination program or (ii)
the Executive’s employment is terminated by the Company or a Related Entity. The portion of the Deferred Stock Account that becomes vested and nonforfeitable under this Subsection 6.03(d) is that number of notional shares determined by dividing
the deferred Incentive Award by the fair market value of the Company common stock on the date the Committee approved the Incentive Award. 
  
 6.04. Distribution 
  
 (a) The Executive’s vested and nonforfeitable interest in the Deferred Stock Account will be distributed as soon as practicable following the date
such interest vests and becomes nonforfeitable. The distribution shall be made in whole shares of Company common stock (issued pursuant to the Company’s Stock Incentive Plan or any successor thereto) equal in number to the number of notional
shares that have vested in the Deferred Stock Account. The Committee may impose restrictions on the sale or transfer of shares of Company common stock distributed or issued under this Subsection 6.04(a). 
  
 (b) The vested and nonforfeitable interest in the Deferred Stock Account of
an Executive who is the Company’s Chief Executive Officer or one of the Company’s four other most highly compensated executives, shall not be distributed pursuant to Subsection 6.04(b) but instead shall be credited to a Stock Gain Account
under Article VII. 
  

 14 

 ARTICLE VII 
 DEFERRAL OF STOCK GAIN 
  
 7.01.
Stock Gain Eligible For Deferral 
  
 (a) An
Executive may elect to defer the gain that otherwise would be recognized upon the exercise of an option to purchase Company common stock if (i) the option is not a statutory option under the Code and (ii) the option is exercisable on the date that
the deferral election is made. Gain attributable to the exercise of an option may be deferred under this Article VII only if the option price is paid by the surrender of shares of Company common stock, either by actual surrender or by attestation.

  
 (b) An Executive may elect (and, in accordance with Section
6.04, certain Executives shall be deemed to have elected), to defer the gain that otherwise would be recognized upon the vesting or distribution of a Stock Deferral or other equity-based award that the Committee, in its sole discretion, determines
may be deferred under the Plan. An election to defer the gain that otherwise would be recognized upon the vesting or distribution of a Stock Deferral or other equity-based award must cover the entirety of such award. 
  
 7.02. Deferral Election 
  
 (a) Deferral elections under this Article VII shall be made on a deferral
election form or forms approved by the Committee and made available to Executives. Deferral elections under this Article VII are irrevocable. 
  
 (b) A deferral election with respect to an option described in Section 7.01 must be made at least six months before the option is exercised and in a Year
preceding the Year in which the option is exercised. A deferral election with respect to an option described in Section 7.01 shall not be effective if (i) the election calls for the deferral of gain until a date certain and (ii) the option is not
exercised before that date (in which case deferral will be permitted only under a new deferral election). A deferral election is not effective unless the option is exercised before the Executive’s Termination. 
  
 (c) A deferral election with respect a Stock Deferral or other equity based
award described in Section 7.01 must be made at least six months before the Stock Deferral or other award becomes vested and in a Year preceding the Year in which the Stock Deferral or other award becomes vested. 
  
 7.03. Crediting Account 
  
 (a) A Stock Gain Account shall be established under the Plan for each
Executive who makes a deferral election under this Article VII. The Stock Gain Account shall be credited with notional shares of Company common stock in accordance with the provisions of the Plan. 
  

 15 

 (b) An Executive’s Stock Gain Account will be credited with notional shares of Company common stock
on the date that the Executive exercises the option subject to the deferral election. The number of notional shares credited to the Executive’s Stock Gain Account shall be the excess of the number of shares issuable on the exercise of the
option over the number of shares surrendered (actually or by attestation) in connection with the exercise. 
  
 (c) An Executive’s Stock Gain Account will be credited with notional shares of Company common stock on the date that the Executive’s rights in
the Stock Deferral or other equity-based award becomes nonforfeitable. The number of notional shares credited to the Executive’s Stock Gain Account shall be the number of shares or notional shares under the Stock Deferral or other equity-based
award that the Executive elected to defer. 
  
 (d) An
Executive’s Stock Gain Account will be credited with dividend equivalents, i.e., additional shares of notional Company common stock as if the account received the same dividends that the Company pays on its common stock and such
dividends were immediately reinvested in shares of Company common stock. 
  
 7.04.
Distributions 
  
 (a) Each Executive who makes (or,
in the case of certain Executives is deemed to make,) a deferral election under this Article VII shall also specify on a form prescribed by the Committee for such purpose whether he wishes payment of the gain deferred under this Article VII to be
paid on the earlier of either (i) a date certain in any Year prior to Termination (in which case the distribution will be made in a single sum, in whole shares of Company common stock, during July of the Year that includes the specified date
certain) or (ii) upon Termination (in which case the distribution will be made in whole shares of Company common stock in accordance with the provisions of Sections 5.04 through 5.06). 
  
 (b) Each Executive who makes a deferral election under this Article VII may submit a redeferral election to change the
commencement date of his distribution in accordance with the rules described in Section 5.02 or may change the form of distribution of an amount payable in connection with Termination provided that such change in payment method is elected at least
six months prior to the Executive’s Termination and in a Year preceding the Year in which the Executive’s Termination is effective; provided, however, that all such benefits will be paid in whole shares of Company common stock. 

 
 (c) Notwithstanding the preceding provisions of Section 7.04, the deferred
gain attributable to an option exercise shall be distributed as soon as practicable following Termination if (i) the Executive elected to defer the distribution until a date certain and (ii) the Executive’s Termination occurs before that date.

  
 (d) Shares of Company common stock distributed pursuant to
this Article VII shall be issued pursuant to the Company’s Stock Incentive Plan or any successor thereto. 
  

 16 

 ARTICLE VIII 
 GENERAL 
  
 8.01. Amendment or
Termination 
  
 The Board may from time to time amend,
suspend or terminate this Plan in whole or in part, and, if suspended or terminated, may reinstate any of or all of its provisions, except that without the consent of the Accountholder or Executive, or, if he is not living, his Beneficiary, no
amendment, suspension or termination of this Plan shall be made which materially adversely affects his rights with respect to awards previously made to him. This Plan shall automatically terminate after all benefits payable under the Plan shall have
been paid or distributed. 
  
 8.02. Adjustment Upon Change In Common
Stock 
  
 The number of notional shares of Company common
stock credited to Executives’ accounts shall be adjusted as the Committee shall determine to be equitably required in the event that (a) the Company (i) effects one or more stock dividends, stock split-ups, subdivisions or consolidations of
shares or (ii) engages in a transaction to which Section 424 of the Code applies, (b) there occurs any other event which, in the judgment of the Committee necessitates such action or (c) there is a Change in Control. Any determination made under
this Section 8.02 by the Committee shall be final and conclusive. 
  
 The issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, for cash or property, or for labor or services, either upon direct sale or upon the exercise of rights or warrants to
subscribe therefore, or upon conversion of shares or obligations of the Company convertible into such shares or other securities, shall not affect, and no adjustment by reason thereof shall be made with respect to, the number of notional shares of
Company common stock credited to Executives’ accounts. 
  
 8.03.
Compliance With Law And Approval Of Regulatory Bodies 
  
 No Company common stock shall be issued, no certificates for shares of Company common stock shall be delivered, and no payment shall be made under this Plan except in compliance with all applicable federal and state laws and regulations
(including, without limitation, withholding tax requirements), any listing agreement to which the Company is a party, and the rules of all domestic stock exchanges on which the Company’s shares may be listed. The Company shall have the right to
rely on an opinion of its counsel as to such compliance. Any share certificate issued to evidence Company common stock issued pursuant to the Plan may bear such legends and statements as the Committee may deem advisable to assure compliance with
federal and state laws and regulations. No Company common stock shall be issued, no certificate for shares shall be delivered, and no payment shall be made under this Plan until the Company has obtained such consent or approval as the Committee may
deem advisable from regulatory bodies having jurisdiction over such matters. 
  

 17 

 8.04. Effect on Employment and Service 
  
 Neither the adoption of this Plan, its operation, nor any documents describing or referring to this Plan (or any part
thereof), shall confer upon any individual any right to continue in the employ or service of the Company or a Related Entity or in any way affect any right or power of the Company or a Related Entity to terminate the employment or service of any
individual at any time with or without assigning a reason therefore. 
  
 8.05.
Unfunded Plan 
  
 The Plan, insofar as it provides
for grants, shall be unfunded, and the Company shall not be required to segregate any assets that may at any time be represented by grants under this Plan. Any liability of the Company to any person with respect to any grant under this Plan shall be
based solely upon any contractual obligations that may be created pursuant to this Plan. No such obligation of the Company shall be deemed to be secured by any pledge of, or other encumbrance on, any property of the Company. 
  
 8.06. Rules of Construction 
  
 Headings are given to the articles and sections of this Plan solely as a
convenience to facilitate reference. The reference to any statute, regulation, or other provision of law shall be construed to refer to any amendment to or successor of such provision of law. 
  
 8.07. Tax Withholding 
  
 Each Executive and Accountholder shall be responsible for satisfying any
income and employment tax withholding obligation attributable to participation in this Plan. In accordance with procedures established by the Committee, an Executive or Accountholder may surrender shares of Common Stock, or receive fewer shares of
Common Stock than otherwise would be issuable, in satisfaction of all or part of that obligation. 
  
 8.08. Limitation on Benefits 
  
 (a) Subject to subsection (e) but despite any other provision of this Plan, if the Accounting Firm determines that receipt of benefits or payments under this Plan would subject an Executive to tax under Code section
4999, it must determine whether some amount of the benefits or payments would meet the definition of a “Reduced Amount.” If the Accounting Firm determines that there is a Reduced Amount, the total benefits and payments must be reduced to
such Reduced Amount, but not below zero. 
  
 (b) If the Accounting
Firm determines that the benefits and payments should be reduced to the Reduced Amount, the Company must promptly notify the Executive of that determination, including a copy of the detailed calculations by the Accounting Firm. All determinations
made by the Accounting Firm under this section are binding upon the Company and the Executive. 
  

 18 

 (c) It is the intention of the Company and the Executive to reduce the benefits and payments under this
Plan only if the aggregate Net After Tax Receipts to the Executive would thereby be increased. As a result of the uncertainty in the application of Code section 4999 at the time of the initial determination by the Accounting Firm under this section,
however, it is possible that amounts will have been paid or distributed under the Plan to or for the benefit of an Executive which should not have been so paid or distributed (“Overpayment”) or that additional amounts which will not have
been paid or distributed under the Plan to or for the benefit of an Executive could have been so paid or distributed (“Underpayment”), in each case, consistent with the calculation of the Reduced Amount. If the Accounting Firm, based
either upon the assertion of a deficiency by the Internal Revenue Service against the Company or the Executive which the Accounting Firm believes has a high probability of success or controlling precedent or other substantial authority, determines
that an Overpayment has been made, any such Overpayment must be treated (if permitted by applicable law) for all purposes as a loan ab initio for which the Executive must repay the Company together with interest at the applicable federal rate under
Code section 7872(f)(2); provided, however, that no such loan may be deemed to have been made and no amount shall be payable by Executive to the Company if and to the extent such deemed loan and payment would not either reduce the amount on which
the Executive is subject to tax under Code section 1 or 4999 or generate a refund of such taxes. If the Accounting Firm, based upon controlling precedent or other substantial authority, determines that an Underpayment has occurred, the Accounting
Firm must promptly notify the Committee of the amount of the Underpayment and such amount, together with interest at the applicable federal rate under Code section 7872(f)(2), must be paid to the Executive. 
  
 (d) For purposes of this section, (i) “Net After Tax Receipt” means
the Present Value of a payment or benefit under this Plan net of all taxes imposed on the Executive with respect thereto under Code sections 1 and 4999, determined by applying the highest marginal rate under Code section 1 which applied to the
Executive’s taxable income for the immediately preceding taxable year; (ii) “Present Value” means the value determined in accordance with Code section 280G(d)(4); and (iii) “Reduced Amount” means the smallest aggregate
amount of all payments or benefit under this Plan which (a) is less than the sum of all payments or benefit under this Plan and (b) results in aggregate Net After Tax Receipts which are equal to or greater than the Net After Tax Receipts which would
result if the aggregate payments or benefit under this Plan were any other amount less than the sum of all payments or benefit under this Plan. 
  
 (e) This section shall not apply to awards made to any Executive if an Agreement or other agreement between the Executive and the Company provides that
the Company shall indemnify the Executive against any liability that the Executive may incur under Section 4999 of the Code. 
  

 19

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