Document:

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                                                                    Exhibit 10.5

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                       COMMON STOCK PURCHASE WARRANT NO. 1

                          Dated as of November 19, 1999

                      for 87,480 Shares of Common Stock of

                             NA HOLDING CORPORATION

                           Expiring November 19, 2004

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                                Table of Contents

1.  Exercise of Warrant................................................2
      1.1.  Manner of Exercise.........................................2
      1.2.  When Exercise Deemed Effected..............................3
      1.3.  Delivery of Stock Certificates, etc........................3
      1.4.  Payment of Taxes and Expenses..............................4

2.  Adjustment of Common Stock Issuable upon Exercise..................4
      2.1.  Number of Shares; Warrant Price............................4
      2.2.  Stock Dividends, Subdivisions and Combinations.............4
      2.3.  Extraordinary Dividends and Distributions..................5
      2.4.  Issuance of Additional Shares of Common Stock..............5
      2.5.  Issuance of Warrants or Other Rights.......................6
      2.6.  Issuance of Convertible Securities.........................6
      2.7.  Superseding Adjustment.....................................7
      2.8.  Consolidation, Merger, Sale of Assets,
            Reorganization, etc. ......................................8
      2.9.  Other Dilutive Events......................................9
      2.10. Other Provisions Applicable to Adjustments under
            this Section 2 ............................................9

3.  Notice of Adjustment..............................................11

4.  Notices of Corporate Action.......................................12

5.  Restrictions on Transfer..........................................12
      5.1.  Certain Restrictions......................................12
      5.2   Right of First Refusal....................................15
      5.3.  Drag-Along Rights.........................................16
      5.4.  Registration; Restrictions on Sale upon Public Offering...19
      5.5.  Termination of Restrictions...............................19

6.  Registration and Participation Rights.............................20

7.  Availability of Information.......................................20

8.  Reservation of Stock, etc.........................................20

9.  Ownership, Transfer and Substitution of the Warrant...............20
      9.1.  Ownership of Warrant......................................20
      9.2   Transfer and Exchange of the Warrant......................20

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      9.3.  Division and Combination of the Warrant...................20
      9.4.  Replacement of the Warrant................................21

10.  Definitions......................................................21

11.  Rights of Holders................................................25

12.  Notices..........................................................26

13.  Amendment........................................................28

14.  Successors and Assigns...........................................28

15.  Third Party Beneficiary..........................................28

16.  Miscellaneous....................................................28

Exhibit A   Form of Subscription
Exhibit B   Form of Assignment

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THIS WARRANT AND THE SHARES OF COMMON STOCK PURCHASABLE UPON EXERCISE HEREOF
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE
SECURITIES LAWS OF ANY STATE AND ARE SUBJECT TO CERTAIN RESTRICTIONS ON
TRANSFERABILITY AS SET FORTH HEREIN (INCLUDING A FIRST REFUSAL RIGHT PURSUANT TO
SECTION 5.2 HEREOF) AND IN A REGISTRATION AND PARTICIPATION AGREEMENT, DATED AS
OF MARCH 30, 1998, AS AMENDED AS OF NOVEMBER 19, 1999, AS SUCH AGREEMENT MAY BE
AMENDED FROM TIME TO TIME, A COPY OF WHICH IS ON FILE AT THE OFFICES OF THE
COMPANY.

NEITHER THIS WARRANT NOR THE SHARES OF COMMON STOCK PURCHASABLE UPON EXERCISE
HEREOF MAY BE SOLD OR OTHERWISE DISPOSED OF IN VIOLATION OF SUCH ACT, APPLICABLE
STATE SECURITIES LAWS, THE PROVISIONS OF THIS WARRANT OR SUCH REGISTRATION AND
PARTICIPATION AGREEMENT.

Warrant No. 1

No. of Shares of Common Stock: 87,480

                             NA Holding Corporation

                          Common Stock Purchase Warrant
                           Expiring November 19, 2004

                                                        New York, N.Y.
                                                        November 19, 1999

            NA Holding Corporation, a Delaware corporation (the "Company"), for
value received, hereby certifies that NFC International Holdings (Netherlands
II) BV, a company organized under the laws of The Netherlands (the "Purchaser"),
or its permitted

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assigns, is entitled to purchase from the Company 87,480 duly authorized,
validly issued, fully paid and nonassessable shares of Common Stock, par value
$0.01 per share, of the Company (the "Common Stock") at the purchase price per
share determined pursuant to Sections 1.1 and 2 hereof, at any time or from time
to time after the date hereof, but prior to 5:00 P.M., New York City time, on
November 19, 2004, all subject to the terms, conditions and adjustments set
forth below in this Warrant.

            This Warrant is the Common Stock Purchase Warrant (the "Warrant" or
"Warrants" such terms to include any other warrant issued upon transfer,
division or combination hereof or in substitution or exchange therefor),
originally issued on November 19, 1999 (the "Closing Date") in connection with
the issuance by the Company of 174,961 shares of its Common Stock as partial
payment of the purchase price under the Acquisition Agreement, dated as of
September 14, 1999, between the Company and NFC plc, a company organized under
the laws of England and Wales (the "Acquisition Agreement"). The Warrant
evidences rights to purchase 87,480 duly authorized, validly issued, fully paid
and nonassessable shares of Common Stock, par value $0.01 per share (such number
of shares of Common Stock referred to herein as the "Initial Exercise Shares"),
subject to adjustment as provided herein. Certain capitalized terms used in the
Warrant are defined in Section 10.

            1. Exercise of Warrant. 1.1. Manner of Exercise. (a) The Warrant may
be exercised by the holder of the Warrant or any portion hereof (the "Holder"),
in whole or in part, during normal business hours on any Business Day by
surrender of the Warrant, with the form of subscription at the end hereof (or a
reasonable facsimile thereof) (the "Subscription Notice") duly executed by such
Holder, to the Company at its principal office (or, if such exercise shall be in
connection with an underwritten Public Offering of shares of Common Stock (or
Other Securities) subject to the Warrant, at the location at which the Company
shall have agreed to deliver the shares of Common Stock (or Other Securities)
subject to such offering), accompanied by payment, in cash or by certified or
official bank check payable to the order of the Company or by any other
reasonably acceptable form of immediately available funds, in the amount (such
amount referred to herein as the "Exercise Price") obtained by multiplying (i)
the number of shares of Common Stock (without giving effect to any adjustment
provided for in Section 2) designated in such Subscription Notice by (ii)
$400.00, and such Holder shall thereupon be entitled to receive the number of
duly authorized, validly issued, fully paid and nonassessable shares of Common
Stock (or Other Securities) determined as provided in Section 2 hereof.

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            (b) In lieu of tendering the Exercise Price to the Company, the
Holder may elect to perform a "Cashless Exercise" of the Warrant, in whole or in
part, by surrendering the Warrant to the Company, with a duly executed
Subscription Notice marked "Cashless Exercise" and designating the number of
shares of Common Stock desired by the Holder out of the total for which the
Warrant is exercisable (without giving effect to any adjustments provided for in
Section 2). The Holder shall thereupon be entitled to receive the number of duly
authorized, validly issued, fully paid and nonassessable shares of Common Stock
(or Other Securities) having a value (at the Fair Market Value) that is equal to
the excess of (i) the then Fair Market Value per share of Common Stock (or Other
Securities) multiplied by the number of the shares of Common Stock (or Other
Securities) (determined as of the Business Day immediately preceding the date of
any such Subscription Notice) into which the Warrant, or portion thereof
designated by the Holder, would have been exercisable pursuant to Section 1.1(a)
upon payment of the Exercise Price by the Holder over (ii) the Exercise Price
the Holder would have been required to pay under Section 1.1(a) in respect of
such an exercise.

            1.2. When Exercise Deemed Effected. Each exercise of the Warrant
shall be deemed to have been effected immediately prior to the close of business
on the Business Day on which the Warrant shall have been surrendered to the
Company as provided in Section 1.1, and at such time the person or persons in
whose name or names any certificate or certificates for shares of Common Stock
(or Other Securities) shall be issuable upon such exercise as provided in
Section 1.3 shall be deemed to have become the holder or holders of record
thereof.

            1.3. Delivery of Stock Certificates, etc. As soon as practicable
after the exercise of the Warrant, in whole or in part, and in any event within
five Business Days thereafter (unless such exercise shall be in connection with
an underwritten Public Offering of shares of Common Stock (or Other Securities)
subject to the Warrant, in which event, concurrently with such exercise), the
Company at its expense (including the payment by it of any taxes applicable to
an issuer upon the issuance of shares, but excluding transfer taxes and any
other taxes imposed by law upon the Holder and subject to Section 1.4) shall
cause to be issued in the name of and delivered to the Holder or, subject to
Section 6, as such Holder (upon payment by such Holder of any applicable
transfer taxes) may direct,

            (a) a certificate or certificates for the number of duly authorized,
validly issued, fully paid and nonassessable shares of Common Stock (or Other
Securities) to which such Holder shall be entitled upon such exercise plus, in
lieu of any fractional share to which such Holder would otherwise be entitled,
cash in an amount equal to the same fraction of the Fair Market Value per share
of such Common Stock (or Other Securities) on the Business Day next preceding
the date of such exercise, and

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            (b) in case such exercise is in part only, a new Warrant or Warrants
of like tenor, calling in the aggregate on the face or faces thereof for the
number of shares of Common Stock equal (without giving effect to any adjustment
therein) to the number of such shares called for on the face of the Warrant
minus the number of such shares designated by the Holder upon such exercise as
provided in Section 1.1.

            1.4. Payment of Taxes and Expenses. The Company shall pay all
expenses in connection with, and all taxes and other governmental charges that
may be imposed with respect to, the issuance or delivery of the Warrant and the
shares of Common Stock (or Other Securities) to which such Holder shall be
entitled upon exercise of the Warrant, unless such tax or charge is imposed by
law upon the Holder, in which case such taxes or charges shall be paid by the
Holder. The Company shall not be required, however, to pay any tax or other
charge imposed in connection with any transfer involved in the issuance of any
certificate for shares of Common Stock (or Other Securities) in any name other
than that of the Holder, and in such case the Company shall not be required to
issue or deliver any stock certificate until such tax or other charge has been
paid or it has been established to the satisfaction of the Company that no such
tax or other charge is due.

            2. Adjustment of Common Stock Issuable upon Exercise. 2.1. Number of
Shares; Warrant Price. The number of shares of Common Stock which the Holder
shall be entitled to receive upon each exercise hereof shall be determined by
multiplying the number of shares of Common Stock which would otherwise (but for
any application of the provisions of this Section 2) be issuable upon such
exercise, as designated by the Holder pursuant to Section 1.1, by a fraction of
which (i) the numerator is $400.00 and (ii) the denominator is the Warrant Price
(as defined below) in effect on the date of such exercise. The "Warrant Price,"
which shall initially be $400.00 shall be adjusted and readjusted from time to
time as provided in Section 2 hereof and, as so adjusted or readjusted, shall
remain in effect until a further adjustment or readjustment thereof is required
by Section 2.

            2.2. Stock Dividends, Subdivisions and Combinations. If at any time
the Company shall:

            (i) issue or deliver any shares of Common Stock as a result of the
      declaration or payment of a dividend of Common Stock payable in, or other
      distribution to holders of Common Stock of, shares of Common Stock,

            (ii) subdivide its outstanding shares of Common Stock into a larger
      number of shares of Common Stock, or

            (iii) combine its outstanding shares of Common Stock into a smaller
      number of shares of Common Stock,

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then the Warrant Price then in effect shall be adjusted to equal (1) the Warrant
Price in effect immediately prior to such event multiplied by the number of
shares of Common Stock for which the Warrant is exercisable immediately prior to
the adjustment divided by (2) the number of shares of Common Stock which a
record holder of the same number of shares of Common Stock for which the Warrant
is exercisable immediately prior to the happening of such event would own or be
entitled to receive after the happening of such event.

            2.3. Extraordinary Dividends and Distributions. If at any time the
Company shall distribute to all holders of its outstanding Common Stock
evidences of indebtedness of the Company, cash (other than a regular dividend
payable in cash out of earned surplus of the Company), or assets or securities
other than the Common Stock (any such evidences of indebtedness, cash, assets or
securities, the "Assets"), then, in each case, the Warrant Price then in effect
shall be reduced to a price determined by multiplying such Warrant Price by a
fraction,

            (i) the numerator of which shall be the Fair Market Value then in
      effect less the value of such Assets applicable to one share of Common
      Stock, and

            (ii) the denominator of which shall be such Fair Market Value.

            Any adjustment required by this Section 2.3 shall be made whenever
any such distribution is made, and shall become effective on the date of
distribution retroactive to the record date for the determination of
stockholders entitled to receive such distribution, provided, however, that the
Company is not required to make an adjustment pursuant to this Section 2.3 if at
the time of such distribution the Company makes the same distribution to Holders
of Warrants as it makes to holders of Common Stock pro rata based on the number
of shares of Common Stock for which such Warrants are then exercisable.

            2.4. Issuance of Additional Shares of Common Stock. (a) If at any
time after the date hereof the Company shall (except as hereinafter provided)
issue or sell any Additional Shares of Common Stock without consideration or in
exchange for consideration in an amount per Additional Share of Common Stock
less than the Fair Market Value at the time the Additional Shares of Common
Stock are issued, then the Warrant Price then in effect shall be reduced to a
price determined by multiplying such Warrant Price by a fraction,

            (i) the numerator of which shall be (x) the number of shares of
      Common Stock outstanding immediately prior to such issue or sale plus (y)
      the number of shares of Common Stock which the aggregate consideration
      received by the Com-

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      pany for the total number of such Additional Shares of Common Stock so
      issued or sold would purchase at the Fair Market Value, and

            (ii) the denominator of which shall be the number of shares of
      Common Stock outstanding immediately after such issue or sale.

            (b) The provisions of paragraph (a) of this Section 2.4 shall not
apply to any issuance of Additional Shares of Common Stock for which an
adjustment is provided under Section 2.2.

            2.5. Issuance of Warrants or Other Rights. If at any time after the
date hereof the Company shall take a record of holders of Common Stock for the
purpose of entitling them to receive a distribution of, or shall in any manner
(whether directly or by assumption in a merger in which the Company is the
surviving corporation) issue or sell, any warrants or other rights to subscribe
for or purchase any Additional Shares of Common Stock or any Convertible
Securities, whether or not such rights thereunder are immediately exercisable,
and the price per share for which Common Stock is issuable upon the exercise of
such warrants or other rights or upon conversion or exchange of such Convertible
Securities shall be less than the Fair Market Value in effect immediately prior
to the time of such issue or sale, then the Warrant Price shall be adjusted as
provided in Section 2.4 on the basis that the maximum number of shares of Common
Stock issuable pursuant to all such warrants or other rights or necessary to
effect the conversion or exchange of all such Convertible Securities shall be
deemed to have been issued and outstanding and the Company shall have received
all of the consideration payable therefor, if any, as of the date of the actual
issuance of such warrants or other rights. No further adjustments of the Warrant
Price shall be made upon the actual issuance of such Common Stock or of such
Convertible Securities upon exercise of such warrants or other rights or upon
the actual issuance of such Common Stock upon such conversion or exchange of
such Convertible Securities.

            2.6. Issuance of Convertible Securities. If at any time the Company
shall take a record of the holders of Common Stock for the purpose of entitling
them to receive a distribution of, or shall in any manner (whether directly or
by assumption in a merger in which the Company is the surviving corporation)
issue or sell, any Convertible Securities, whether or not the rights to exchange
or convert thereunder are immediately exercisable, and the price per share for
which Common Stock is issuable upon such conversion or exchange shall be less
than the Fair Market Value in effect immediately prior to the time of such issue
or sale, then the Warrant Price shall be adjusted as provided in Section 2.4 on
the basis that the maximum number of shares of Common Stock necessary to effect
the conversion or exchange of all such Convertible Securities shall be deemed to
have been issued and outstanding and the Company shall have received all of the
consideration

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payable therefor, if any, as of the date of actual issuance of such Convertible
Securities. No adjustment of the Warrant Price shall be made under this Section
2.6 upon the issuance of any Convertible Securities which are issued pursuant to
the exercise of any warrants or other subscription or purchase rights therefor,
if any such adjustment shall previously have been made upon the issuance of such
warrants or other rights pursuant to Section 2.5. No further adjustments of the
Warrant Price shall be made upon the actual issuance of such Common Stock upon
conversion or exchange of such Convertible Securities, and, if any issuance or
sale of such Convertible Securities is made upon exercise of any warrant or
other right to subscribe for or to purchase or any warrant or other right to
purchase any such Convertible Securities for which adjustments of the Warrant
Price have been or are to be made pursuant to other provisions of this Section
2, no further adjustments of the Warrant Price shall be made by reason of such
issuance or sale.

            2.7. Superseding Adjustment. If, at any time after any adjustment of
the number of shares of Common Stock for which the Warrant is exercisable shall
have been made pursuant to Section 2.5 or 2.6 as the result of any issuance of
warrants, rights or Convertible Securities,

            (i) such warrants or rights, or the right of conversion or exchange
      in such other Convertible Securities, shall expire, and all or a portion
      of such warrants or rights, or the right of conversion or exchange with
      respect to all or a portion of such other Convertible Securities, as the
      case may be, shall not have been exercised, or

            (ii) the consideration per share for which shares of Common Stock
      are issuable pursuant to such warrants or rights, or the terms of such
      other Convertible Securities, shall be increased solely by virtue of
      provisions therein contained for an automatic increase in such
      consideration per share upon the occurrence of a specified date or event,

then such previous adjustment shall be rescinded and annulled and the shares of
Common Stock which were deemed to have been issued by virtue of the computation
made in connection with the adjustment so rescinded and annulled shall no longer
be deemed to have been issued by virtue of such computation. Thereupon, a
recomputation shall be made of the effect of such rights or options or other
Convertible Securities effective as of the date of such previous adjustment on
the basis of

            (A) treating the number of shares of Common Stock or other property,
      if any, theretofore actually issued or issuable pursuant to the previous
      exercise of any such warrants or rights or any such right of conversion or
      exchange, as having

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      been issued on the date or dates of any such exercise and for the
      consideration actually received and receivable therefor, and

            (B) treating any such warrants or rights or any such other
      Convertible Securities which then remain outstanding as having been
      granted or issued immediately after the time of such increase of the
      consideration per share for which shares of Common Stock or other property
      are issuable under such warrants or rights or other Convertible
      Securities,

whereupon a new adjustment of the number of shares of Common Stock for which the
Warrant is then exercisable shall be made effective as of the date of such
previous adjustment, which new adjustment shall supersede the previous
adjustment so rescinded and annulled. Any reduction in the number of shares of
Common Stock for which the Warrant is exercisable as a result of this Section
2.7 shall be applied in its entirety to the number of shares of Common Stock for
which the Warrant is exercisable as of the date such new adjustment is made,
provided that no such superseding adjustment shall require the Holder to pay any
additional amounts in respect of any Warrant previously exercised or to return
any Warrant Shares (as such term is defined in Section 5.1 below).

            2.8. Consolidation, Merger, Sale of Assets, Reorganization, etc. (a)
In case at any time, the Company shall be a party to any transaction (including
without limitation a merger, consolidation, sale of all or substantially all of
the Company's assets or recapitalization of the Common Stock) in which the
previously outstanding Common Stock shall be changed into or exchanged for
different securities of the Company or changed into or exchanged for common
stock or other securities of another corporation or interests in a noncorporate
entity or other property (including cash) or any combination of any of the
foregoing (each such transaction being hereinafter referred to as the
"Transaction") and the Warrant has not been exercised in full prior to the
consummation of the Transaction, lawful and adequate provisions shall be made so
that, upon the basis and terms and in the manner provided in this Section 2.8,
the Holder shall receive, in lieu of the Common Stock issuable upon exercise of
the Warrant prior to such consummation, the stock and other securities, cash and
property to which the Holder would have been entitled upon the consummation of
the Transaction if the Holder had exercised the Warrant pursuant to Section
1.1(b) immediately prior thereto, subject to adjustments as nearly equivalent as
possible to the adjustments provided for in Section 2; and following the
consummation of the Transaction, the Warrant will represent only the right to
receive any such stock, other securities, cash or property.

            (b) Upon any liquidation, dissolution or winding up of the Company,
the Holder shall receive such cash or property (less the Warrant Price) which
the Holder would have been entitled to receive upon the happening of such
liquidation, dissolution or

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winding up had the Warrant been exercised in full and the shares of Common Stock
in respect of such exercise issued immediately prior to the occurrence of such
liquidation, dissolution or winding-up.

            2.9. Other Dilutive Events. In case any event shall occur as to
which the provisions of Section 2 are not strictly applicable but the failure to
make any adjustment would not fairly protect the exercise rights with respect to
the Warrant in accordance with the essential intent and principles of such
Section, then, in each such case, the Company shall appoint a firm of
independent certified public accountants of recognized national standing (which
may be the regular auditors of the Company), which shall give their opinion upon
the adjustment, if any, on a basis consistent with the essential intent and
principles established in Section 2, necessary to preserve, without dilution,
the exercise rights represented by the Warrant. Upon receipt of such opinion,
the Company will promptly mail a copy thereof to the Holder of the Warrant and
shall make the adjustments, if any, described therein.

            2.10. Other Provisions Applicable to Adjustments under this Section
2. The following provisions shall be applicable to the making of adjustments to
the number of shares of Common Stock for which the Warrant is exercisable
provided for in this Section 2:

            (a) Computation of Consideration. To the extent that any shares of
Common Stock or any Convertible Securities or any warrants or other rights to
subscribe for or purchase any shares of Common Stock or any Convertible
Securities shall be issued for cash consideration, the cash consideration
received by the Company therefor shall be the amount of the cash received by the
Company therefor, or, if such shares of Common Stock or Convertible Securities
are offered by the Company for subscription, the subscription price, or, if such
shares of Common Stock or Convertible Securities are sold to underwriters or
dealers for public offering without a subscription offering, the initial public
offering price (in any such case subtracting (A) any amounts paid or receivable
for accrued interest or accrued dividends and without taking into account (B)
any compensation, discounts or expenses paid or incurred by the Company for and
in the underwriting of, or otherwise in connection with, the issuance thereof).
To the extent that such issuance shall be for a consideration other than cash,
then, except as herein otherwise expressly provided, the amount of such
consideration shall be deemed to be fair value of such consideration at the time
of such issuance as determined in good faith by the Board of Directors of the
Company. In case any shares of Common Stock or any Convertible Securities or any
warrants or other rights to subscribe for or purchase such shares of Common
Stock or

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Convertible Securities shall be issued in connection with any merger in which
the Company issues any securities or as payment for all or part of the purchase
price for any securities, assets or businesses acquired by the Company or any of
its Subsidiaries, such shares of Common Stock or Convertible Securities, or
warrants or other rights shall, for all purposes under the Warrant, be deemed to
have been issued in exchange for consideration at least equal to, and the price
per share for which Common Stock is issuable upon the exercise of such warrants
or other rights or upon conversion or exchange of such Convertible Securities
shall be deemed at least equal to, the Fair Market Value in effect immediately
prior to the time of such issue or sale, and such issuance or sale shall not
give rise to an adjustment under this Section 2. The consideration for any
shares of Common Stock issuable pursuant to any warrants or other rights to
subscribe for or purchase the same shall be the consideration received by the
Company for issuing such warrants or other rights plus the additional
consideration payable to the Company upon exercise of such warrants or other
rights. The consideration for any shares of Common Stock issuable pursuant to
the terms of any Convertible Securities shall be the consideration, if any,
received by the Company for issuing warrants or other rights to subscribe for or
purchase such Convertible Securities, plus the consideration paid or payable to
the Company in respect of the subscription for or purchase of such Convertible
Securities, plus the additional consideration, if any, payable to the Company
upon the exercise of the right of conversion or exchange in such Convertible
Securities. In case of the issuance at any time of any shares of Common Stock or
Convertible Securities in payment or satisfaction of any dividends upon any
class of stock other than Common Stock, the Company shall be deemed to have
received for such shares of Common Stock or Convertible Securities a
consideration equal to the amount of such dividend so paid or satisfied.

            (b) Computation of Asset Value. To the extent that any Assets shall
be distributed to all holders of the Company's outstanding Common Stock in cash,
the value of such Assets shall be the amount of cash so distributed, or, if such
Assets are securities offered by the Company for subscription, the subscription
price, or if such Assets are securities sold to underwriters or dealers for
public offering without a subscription offering, the initial public offering
price (in any such case adding any accrued interest or dividends but without
taking into account any compensation, discounts or expenses paid or incurred by
the Company in connection therewith). To the extent that the Company shall so
distribute Assets other than cash, except as herein otherwise expressly
provided, then the value of such Assets shall be deemed to be fair value of such
Assets at the time of such distribution as determined in good faith by the Board
of Directors of the Company.

            (c) When Adjustment to Be Made. The adjustments required by this
Section 2 shall be made whenever and as often as any specified event requiring
an adjustment shall occur, except that any adjustment of the number of shares of
Common Stock for which the Warrant is exercisable that would otherwise be
required may be postponed (except in the case of a subdivision or combination of
shares of the Common Stock, as provided for in Section 2.2) up to but not beyond
the date of exercise if such adjustment either by itself or with other
adjustments not previously made adds or subtracts less than

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1% of the shares of Common Stock for which the Warrant is exercisable
immediately prior to the making of such adjustment. Any adjustment representing
a change of less than such minimum amount (except as aforesaid) which is
postponed shall be carried forward and made as soon as such adjustment, together
with other adjustments required by this Section 2 and not previously made, would
result in a minimum adjustment or on the date of exercise. For the purpose of
any adjustment, any specified event shall be deemed to have occurred at the
close of business on the date of its occurrence.

            (d) Fractional Interest; Rounding. In computing adjustments under
this Section 2, fractional interests in Common Stock shall be taken into account
to the nearest 1/10th of a share, and adjustments in the Warrant Price shall be
made to the nearest $.01.

            (e) When Adjustment Not Required. If the Company shall take a record
of the holders of its Common Stock or Preferred Stock for the purpose of
entitling them to receive subscription or purchase rights and shall, thereafter
and before the distribution to stockholders thereof, legally abandon its plan to
deliver such subscription or purchase rights, then no adjustment shall be
required by reason of the taking of such record and any such adjustment
previously made in respect thereof shall be rescinded and annulled.

            (f) Escrow of Warrant Stock. If the Holder exercises the Warrant
after any property becomes distributable by reason of the taking of any record
of the holders of Common Stock as described in this Section 2, but prior to the
occurrence of the event for which such record is taken, any shares of Common
Stock issuable upon exercise by reason of any adjustment required by this
Section 2 shall be deemed the last shares of Common Stock for which the Warrant
is exercised (notwithstanding any other provision to the contrary herein). Such
shares or other property shall be held in escrow for the Holder by the Company
to be issued to the Holder upon and to the extent that the event actually takes
place, upon payment of the Exercise Price. Notwithstanding any other provision
to the contrary herein, if the event for which such record was taken fails to
occur or is rescinded, then such escrowed shares shall be canceled by the
Company and escrowed property returned.

            3. Notice of Adjustment. Whenever the number of shares of Common
Stock for which the Warrant is exercisable or the Warrant Price shall be
adjusted pursuant to Section 2, the Company shall forthwith prepare a
certificate to be executed by the chief financial officer of the Company setting
forth, in reasonable detail, the event requiring the adjustment, the method by
which the adjustment was calculated, the number of shares of Common Stock for
which the Warrant is exercisable and the Warrant Price after giving effect to
such adjustment or change. The Company shall promptly, and in any event within
fifteen days of such adjustment, cause a signed copy of such certificate to be
delivered to the Holder. The Company shall keep at the office of the Company
copies of all such cer-

                                       11
<PAGE>

tificates and cause the same to be available for inspection during normal
business hours by the Holder.

            4. Notices of Corporate Action. In the event of

            (a) any taking by the Company of a record of the holders of its
Common Stock or Preferred Stock for the purpose of determining the holders
thereof who are entitled to receive any dividend payable in, or other
distribution of, shares of Common Stock, or any other dividend (other than a
regular dividend payable in cash out of earned surplus of the Company) or other
distribution, or any right to subscribe for, purchase or otherwise acquire any
shares of Common Stock or any Convertible Securities, or to receive any other
right,

            (b) any subdivision of outstanding shares of Common Stock into a
larger number of shares of Common Stock, or any combination of such shares into
a smaller number of shares of Common Stock,

            (c) any capital reorganization of the Company, any reclassification
or recapitalization of the capital stock of the Company or any consolidation or
merger involving the Company and any other Person or any transfer of all or
substantially all the assets of the Company to any other Person, or

            (d) any voluntary or involuntary dissolution, liquidation or
winding-up of the Company,

the Company shall mail to each Holder a notice specifying (i) the date or
expected date on which any such record is to be taken for the purpose of such
dividend, distribution or right, and the amount and character of such dividend,
distribution or right, (ii) the date or expected date on which any such
subdivision, combination or issuance is to take place, and the amount of Common
Stock or Contingent Stock that shall be the subject of such subdivision,
combination or issuance and (iii) the date or expected date on which any such
reorganization, reclassification, recapitalization, consolidation, merger,
transfer, dissolution, liquidation or winding-up is to take place and the time,
if any such time is to be fixed, as of which the holders of record of Common
Stock (or Other Securities) shall be entitled to exchange their shares of Common
Stock (or Other Securities) for the securities or other property deliverable
upon such reorganization, reclassification, recapitalization, consolidation,
merger, transfer, dissolution, liquidation or winding-up. Such notice shall be
mailed at least 30 Business Days prior to the date specified in subdivisions
(i), (ii) and (iii) above.

            5. Restrictions on Transfer. 5.1. Certain Restrictions. The Warrant
and all shares of Common Stock (and Other Securities) issued upon the exercise
of the War-

                                       12
<PAGE>

rant (the "Warrant Shares") shall not be Transferred other than to an Affiliate
of NFC plc, directly or indirectly, except as provided in this Section 5.

            (a) Warrant Restrictive Legend. Except as otherwise permitted by
this Section 5, the Warrant shall be stamped or otherwise imprinted with a
legend in substantially the following form:

      "THE WARRANT AND THE SHARES OF COMMON STOCK PURCHASABLE UPON EXERCISE
      HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
      AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND ARE SUBJECT TO CERTAIN
      RESTRICTIONS ON TRANSFERABILITY AS SET FORTH HEREIN (INCLUDING A FIRST
      REFUSAL RIGHT PURSUANT TO SECTION 5 HEREOF) AND IN A REGISTRATION AND
      PARTICIPATION AGREEMENT, DATED AS OF MARCH 30, 1998, AS AMENDED AS OF
      NOVEMBER 19, 1999, AS SUCH AGREEMENT MAY BE AMENDED FROM TIME TO TIME, A
      COPY OF WHICH IS ON FILE AT THE OFFICES OF THE SECRETARY OF NA HOLDING
      CORPORATION. NEITHER THIS WARRANT NOR THE SHARES OF COMMON STOCK
      PURCHASABLE UPON EXERCISE HEREOF MAY BE SOLD OR OTHERWISE DISPOSED OF IN
      VIOLATION OF SUCH ACT, APPLICABLE STATE SECURITIES LAWS, THE PROVISIONS OF
      THIS WARRANT OR SUCH REGISTRATION AND PARTICIPATION AGREEMENT."

            (b) Warrant Shares Restrictive Legend. Except as otherwise provided
in this Section 5, each certificate for Warrant Shares shall be stamped or
otherwise imprinted with a legend in substantially the following form:

      "THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO THE
      TRANSFER RESTRICTIONS (INCLUDING A RIGHT OF FIRST REFUSAL AND A HOLDBACK
      AGREEMENT) SET FORTH IN A CERTAIN WARRANT, DATED NOVEMBER 19, 1999,
      ORIGINALLY ISSUED BY NA HOLDING CORPORATION, AS SUCH WARRANT MAY BE
      AMENDED FROM TIME TO TIME, A COPY OF WHICH IS ON FILE WITH THE SECRETARY
      OF NA HOLDING CORPORATION. THE SECURITIES REPRESENTED BY THIS CERTIFICATE
      ARE ENTITLED TO CERTAIN OF THE BENEFITS OF AND ARE BOUND BY THE
      OBLIGATIONS SET FORTH IN A CERTAIN REGISTRATION AND PARTICIPATION
      AGREEMENT, DATED AS OF MARCH 30, 1998, AS AMENDED AS OF NOVEMBER 19, 1999,
      AS SUCH AGREEMENT MAY BE

                                       13
<PAGE>

      AMENDED FROM TIME TO TIME, A COPY OF WHICH IS ON FILE AT THE OFFICE OF THE
      SECRETARY OF NA HOLDING CORPORATION. THE HOLDER OF THIS CERTIFICATE, BY
      ACCEPTANCE OF THIS CERTIFICATE, AGREES TO BE BOUND BY THE PROVISIONS OF
      SUCH WARRANT AND SUCH REGISTRATION AND PARTICIPATION AGREEMENT."

      "THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER
      THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER ANY STATE OR FOREIGN
      SECURITIES LAWS AND MAY NOT BE TRANSFERRED, SOLD, PLEDGED, HYPOTHECATED OR
      OTHERWISE DISPOSED OF UNLESS (i) (A) SUCH DISPOSITION IS PURSUANT TO AN
      EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS
      AMENDED, (B) THE HOLDER HEREOF SHALL HAVE DELIVERED TO NA HOLDING
      CORPORATION AN OPINION OF COUNSEL, WHICH OPINION AND COUNSEL SHALL BE
      REASONABLY SATISFACTORY TO NA HOLDING CORPORATION, TO THE EFFECT THAT SUCH
      DISPOSITION IS EXEMPT FROM THE PROVISIONS OF SECTION 5 OF SUCH ACT OR (C)
      A NO-ACTION LETTER FROM THE SECURITIES AND EXCHANGE COMMISSION, REASONABLY
      SATISFACTORY TO COUNSEL FOR NA HOLDING CORPORATION, SHALL HAVE BEEN
      OBTAINED WITH RESPECT TO SUCH DISPOSITION AND (ii) SUCH DISPOSITION IS
      PURSUANT TO REGISTRATION UNDER ANY APPLICABLE STATE SECURITIES LAWS OR AN
      EXEMPTION THEREFROM."

            (c) Notice of Proposed Transfer; Opinion of Counsel. Prior to any
Transfer of any Restricted Securities that are not registered under an effective
registration statement under the Securities Act (other than a Transfer pursuant
to Rule 144 or any comparable rule under such Act), the holder of such
Restricted Securities shall give written notice (a "Transfer Notice") to the
Company of such holder's intention to effect such Transfer and shall comply in
all other respects with this Section 5.1(c). Each Transfer Notice shall describe
the manner and circumstances of the proposed Transfer in reasonable detail and
be accompanied by an opinion of counsel (which requirement may be waived by the
Company), who shall be independent of the holder proposing such Transfer (but
who may be the holder's regular outside counsel), experienced in Securities Act
matters and reasonably satisfactory to the Company, to the effect that the
proposed Transfer may be effected without registration. Subject to Section 5.2,
such holder of Restricted Securities shall thereupon be entitled to Transfer the
securities in question in accordance with the terms of the Transfer Notice. Each
Warrant or share certificate, if any, issued upon or in connection with such
Transfer shall bear the appropriate restrictive legend set forth in Section
5.1(a)

                                       14
<PAGE>

or Section 5.1(b), as the case may be, unless, in the opinion of such counsel
and of counsel to the Company, such legend is no longer required to ensure
compliance with the Securities Act.

            5.2 Right of First Refusal. In the event that any holder of
Restricted Securities desires to accept an offer (which must be in writing and
for cash, be irrevocable by its terms for at least 60 days and be a bona fide
offer as determined in good faith by the Board or the Executive Committee
thereof) from any prospective purchaser to purchase the Restricted Securities at
any time owned by such holder, such holder shall give notice in writing to the
Company and Clayton, Dubilier & Rice Fund V Limited Partnership (the "CD&R
Fund") (i) designating the Restricted Securities proposed to be sold, (ii)
naming the prospective purchaser of such Restricted Securities and (iii)
specifying the price (the "Offer Price") at and terms (the "Offer Terms") upon
which such holder desires to sell the same. During the 30-day period following
receipt of such notice by the Company and the CD&R Fund (the "First Refusal
Period"), the Company shall have the right to purchase from the holder of such
Restricted Securities no less than all the Restricted Securities specified in
such notice, at the Offer Price and on the Offer Terms. The Company hereby
undertakes to use reasonable efforts to act as promptly as practicable following
receipt of such notice to determine whether it shall elect to exercise such
right. If Company fails to exercise such right within the First Refusal Period,
the CD&R Fund shall have the right to purchase no less than all the Restricted
Securities at the Offer Price and on the Offer Terms, at any time during the
period beginning on the earlier of (x) the end of the First Refusal Period and
(y) the date of receipt by the CD&R Fund of written notice that the Company has
elected not to exercise its rights under this Section 5.2 and ending 30 days
thereafter (the "Second Refusal Period"). The rights provided hereunder shall be
exercised by written notice to the holder of Restricted Securities given at any
time during the applicable period. If such right is exercised, the Company or
the CD&R Fund, as the case may be, shall deliver to the holder of Restricted
Securities a certified or bank check for the Offer Price, payable to the order
of the holder of Restricted Securities, against delivery of the certificates or
other instruments representing the Restricted Securities so purchased,
appropriately endorsed by the holder of Restricted Securities. If such right
shall not have been exercised prior to the expiration of the Second Refusal
Period, then at any time during the 30 days following the expiration of the
Second Refusal Period, the holder of Restricted Securities may sell such
Restricted Securities to (but only to) the intended purchaser named in such
holder's notice to the Company and the CD&R Fund at the Offer Price and on the
Offer Terms specified in such notice, free of all restrictions or obligations
imposed by, and free of any rights or benefits set forth in Section 5 of this
Warrant, provided that such intended purchaser shall have agreed in writing to
make and be bound by representations, warranties and covenants regarding such
purchaser's investment intentions pursuant to an instrument of assumption
satisfactory in substance and form to the Company.

                                       15
<PAGE>

      5.3. Drag-Along Rights. (a) Drag-Along Notice. If the CD&R Fund intends to
effect a sale of 51% or more of its shares of Common Stock of the Company to a
Third Party Buyer and the CD&R Fund elects to exercise its rights under this
Section 5.3, the CD&R Fund shall deliver written notice (a "Drag-Along Notice")
to the holder of Restricted Securities, which notice shall (a) state (i) that
the CD&R Fund wishes to exercise its rights under this Section 5.3 with respect
to such sale, (ii) the name and address of the Third Party Buyer, (iii) the per
share amount and form of consideration the CD&R Fund proposes to receive for its
shares of Common Stock of the Company (the "Drag-Along Price") and (iv) the
terms and conditions of payment of such consideration and all other material
terms and conditions of such sale, (b) contain an offer (the "Drag-Along Offer")
to the holder of Restricted Securities by the Third Party Buyer to purchase (i)
in the case of a holder of the Warrant, the portion of the Warrant representing
a percentage of Warrant Shares equal to the percentage of the shares of Common
Stock of Company owned by the CD&R Fund that are to be sold to the Third Party
Buyer (the "Applicable Portion") and (ii) in the case of a holder of Warrant
Shares, the percentage of Warrant Shares equal to the percentage of the shares
of Common Stock of the Company owned by the CD&R Fund that are to be sold to the
Third Party Buyer (such percentage, the "Applicable Percentage") at the same
price and on and subject to the same terms and conditions offered to the CD&R
Fund and subject to Sections 5.3(b) and (c) below and (c) state the anticipated
time and place of the closing of the purchase and sale of the Applicable Portion
of the Warrant and the Applicable Percentage of the Warrant Shares (a
"Drag-Along Closing"), which (subject to such terms and conditions) shall occur
not fewer than five (5) days nor more than ninety (90) days after the date such
Drag-Along Notice is delivered, provided that if such Drag-Along Closing shall
not occur prior to the expiration of such 90-day period, the CD&R Fund shall be
entitled to deliver additional Drag-Along Notices with respect to such
Drag-Along Offer.

            (b) Conditions to Drag-Along. Upon delivery of a Drag-Along Notice,
each holder of Restricted Securities shall have the obligation and the right to

                  (i) in the case of a holder of the Warrant and in the event
            that the Drag-Along Price is less than or equal to the Exercise
            Price, surrender the Warrant to the Company and receive from the
            Company (x) a written confirmation of such surrender (and of the
            consequent cancellation of the Warrant by the Company) to the Holder
            and (y) a new Warrant calling in the aggregate on the face thereof
            for the number of shares of Common Stock called for on the face of
            the Warrant surrendered and canceled minus the shares of Common
            Stock represented by the Applicable Portion of the Warrant,

                                       16
<PAGE>

                  (ii) in the case of a holder of the Warrant and in the event
            that the Drag-Along Price exceeds the Exercise Price, transfer and
            sell to the Third Party Buyer the Applicable Portion of the Warrant,
            and in such case, receive from the Custodian (as defined below) the
            total consideration, if any, for the shares represented by the
            Applicable Portion of the Warrant, which consideration shall be the
            Drag-Along Price reduced by the Exercise Price and multiplied by the
            number of Warrant Shares represented by the Applicable Portion of
            the Warrant, and thereupon receive from the Company (x) a written
            confirmation of such transfer (and the consequent cancellation of
            the Applicable Portion of the Warrant by the Company) to the Holder
            and (y) a new Warrant calling in the aggregate on the face thereof
            for the number of shares of Common Stock called for on the face of
            the Warrant prior to the transfer of the Applicable Portion of the
            Warrant to the Third Party Buyer minus the number of shares of
            Common Stock represented by the Applicable Portion of the Warrant
            and

                  (iii) in the case of a holder of Warrant Shares, transfer and
            sell to the Third Party Buyer the Applicable Percentage of its
            Warrant Shares and receive from the Custodian the total
            consideration for such Warrant Shares

pursuant to the Drag-Along Offer, as the same may be modified from time to time,
provided that the CD&R Fund sells and transfers the Applicable Percentage of its
shares of Common Stock of the Company to the Third Party Buyer at the Drag-Along
Closing at the same price and on the same terms and conditions. Within 10 days
of receipt of the Drag-Along Notice, each holder of Restricted Securities shall
(x) execute and deliver to the CD&R Fund a power of attorney and a letter of
transmittal and custody agreement appointing, and in form and substance
reasonably satisfactory to, the CD&R Fund or one or more of its affiliates
designated by the CD&R Fund (the "Custodian"), the true and lawful
attorney-in-fact and custodian for the holder of Restricted Securities, with
full power of substitution, and authorizing the Custodian to take such actions
as the Custodian may deem necessary or appropriate to effect, as applicable, the
transfer, sale, surrender or cancellation of the Applicable Portion of the
Warrant and the transfer and sale of the Applicable Percentage of the Warrant
Shares to the Third Party Buyer, upon receipt of the purchase price therefor at
the Drag-Along Closing, free and clear of all security interests, liens, claims,
encumbrances, charges, options, restrictions on transfer, other than those
stated on the Warrant or the certificate for Warrant Shares, the proxies and
voting and other agreements of whatever nature, and to take such other action as
may be necessary or appropriate in connection with such sale, transfer,
surrender or cancellation, including consenting to any amendments, waivers,
modifications or supplements to the terms of the sale (provided that the CD&R
Fund also so consents, and, to the extent applicable, sells

                                       17
<PAGE>

and transfers the Applicable Percentage of its shares of Common Stock of the
Company on the same terms as so amended, waived, modified or supplemented) and
(y) deliver to the Custodian the Warrant and certificates representing the
Applicable Percentage of the Warrant Shares, together with all necessary duly
executed stock powers, provided that in no event shall any holder of Restricted
Securities be subject to any holdback or indemnification obligations in
connection with such sale without its prior written consent. The Custodian shall
hold the Warrant and the Applicable Percentage of the Warrant Shares and other
documents in trust for each holder of Restricted Securities pending completion
or abandonment of such sale. If, within 90 days after the CD&R Fund delivers the
Drag-Along Notice, the CD&R Fund has not completed the sale of the Applicable
Percentage of its shares of Common Stock of the Company to the Third Party Buyer
and another Drag-Along Notice with respect to such Drag-Along Offer has not been
sent to the holders of Restricted Securities, the Custodian shall return to such
holders of Restricted Securities the Warrant and all certificates representing
such securities and all other documents that such holders delivered in
connection with such sale. Promptly after the Drag-Along Closing, the Custodian
shall give notice thereof to each holder of Restricted Securities and shall
remit to each such holder the total consideration to which he is entitled and
shall furnish such other evidence of the completion and time of the completion
of such sale and the terms thereof as may be reasonably requested by such
holders.

            (c) Remedies. Each holder of Restricted Securities acknowledges that
the CD&R Fund would be irreparably damaged in the event of a breach or a
threatened breach by such holder of any of his obligations under this Section
5.3 and each holder of Restricted Securities agrees that, in the event of a
breach or a threatened breach by such holder of any such obligation, the CD&R
Fund shall, in addition to any other rights and remedies available to it in
respect of such breach, be entitled to an injunction from a court of competent
jurisdiction (without any requirement to post bond) granting it specific
performance by such holder of his obligations under this Section 5.3. In the
event that the CD&R Fund shall file suit to enforce the covenants contained in
this Section 5.3 (or obtain any other remedy in respect of any breach thereof),
the prevailing party in the suit shall be entitled to recover, in addition to
all other damages to which it may be entitled, the costs incurred by such party
in conducting the suit, including reasonable attorney's fees and expenses. In
the event that, following a breach or a threatened breach by any holder of
Restricted Securities of the provisions of this Section 5.3, the CD&R Fund does
not obtain an injunction granting it specific performance of the such holder's
obligations under this Section 5.3 in connection with such proposed transfer,
sale, surrender or cancellation prior to the time the CD&R Fund completes the
sale of the Applicable Percentage of its shares of Common Stock of the Company
or, in its sole discretion, abandons such sale, then the Company shall have the
option (i) in the case of a holder of the Warrant, (x) to purchase all
Restricted Securities from such holder at a purchase price per share equal to
the Exercise Price, or (y) if the per share consideration payable pursuant to
the Drag-Along Offer is less than

                                       18
<PAGE>

the Exercise Price, to cancel the Warrant whereupon the Company shall send a
written confirmation of such cancellation to the holder, and (ii) in the case of
a holder of Warrant Shares, (x) to purchase all of the Warrant Shares held by
such holder at a purchase price per share equal to the price at which such
holder purchased such shares of Common Stock from the Company or, if less, the
per share consideration, if any, payable for each share pursuant to the
Drag-Along Offer.

            5.4. Registration; Restrictions on Sale upon Public Offering. Each
holder of Restricted Securities agrees that, in the event that the Company files
a registration statement under the Securities Act with respect to an
underwritten public offering of any shares of its capital stock, it will not
seek to effect any public sale (including a sale under Rule 144) of the
Restricted Securities or any distribution of the Restricted Securities, other
than as part of such underwritten public offering, during the 20 days prior to
and the 180 days after the effective date of such registration statement.

            5.5. Termination of Restrictions. (a) Securities Law Restrictions.
The legend requirements of Sections 5.1(a) and 5.1(b) and the restrictions
imposed by Section 5.1(c) shall terminate as to any Restricted Security (i) when
and so long as the security in question shall have been effectively registered
under the Securities Act and disposed of in accordance with the registration
statement covering such Restricted Securities, (ii) when, in the opinions of
both counsel for the holder thereof and counsel for the Company, such
restrictions are no longer required in order to insure compliance with the
Securities Act or (iii) when such securities have been beneficially owned, by a
person who has not been an affiliate of the Company for at least three months,
for a period of at least two years, all as determined under Rule 144 under the
Securities Act. Whenever any such restrictions shall terminate as to any Warrant
Shares, as soon as practicable thereafter and in any event within five days, the
holder thereof shall be entitled to receive from the Company and the Company
agrees to issue to such holder, without expense (other than transfer taxes, if
any) and at the request of the holder thereof, new securities of like tenor not
bearing the legend set forth in Section 5.1(b) hereof. Legend requirements set
forth in Sections 5.1(a) and 5.1(b) hereof shall continue in effect with respect
to other transfer restrictions set forth herein and in the Registration and
Participation Agreement for so long as such restrictions remain applicable and
thereafter the Company agrees to reissue securities not bearing any legend.

            (b) Other Restrictions. The restrictions set forth in Sections 5.2
and 5.3 shall terminate in the event that a Public Offering has been
consummated. The restrictions set forth in Section 5.4 shall terminate (i) when
and so long as the Restricted Securities shall have been effectively registered
under the Securities Act and disposed of in accordance with the registration
statement covering such Restricted Securities or (ii) when such Restricted
Securities have been disposed of under Rule 144 under the Securities Act.

                                       19
<PAGE>

            6. Registration and Participation Rights. The Warrant Shares are
subject to the restrictions set forth in and entitled to the benefits of the
Registration and Participation Agreement, dated as of March 30, 1998, as amended
as of November 19, 1999, between the Company and the CD&R Fund (the
"Registration and Participation Agreement").

            7. Availability of Information. The Company shall supply each holder
of Warrant Shares with such information as may reasonably be necessary for such
holder to complete and file any information reporting forms presently or
hereafter required by the Commission as a condition to the availability of an
exemption from the Securities Act for the sale of any Warrant Shares.

            8. Reservation of Stock, etc. The Company shall at all times reserve
and keep available, solely for issuance and delivery upon exercise of the
Warrant, the number of shares of Common Stock (or Other Securities) from time to
time issuable upon exercise of the Warrant at the time outstanding. All shares
of Common Stock (or Other Securities) shall be duly authorized and, when issued
upon such exercise, shall be validly issued and, in the case of shares, fully
paid and nonassessable.

            9. Ownership, Transfer and Substitution of the Warrant. 9.1.
Ownership of Warrant. The Company may treat the Person in whose name the
Warrant, or any Warrant or Warrants issued in substitution therefor, is
registered on the register kept at the principal office of the Company as the
owner and the Holder thereof for all purposes, notwithstanding any notice to the
contrary, except that, if and when any Warrant is properly assigned in blank,
the Company may (but shall not be obligated to) treat the bearer thereof as the
owner of such Warrant for all purposes, notwithstanding any notice to the
contrary. Subject to Section 6, a Warrant, if properly assigned, may be
exercised by a new Holder without first having a new Warrant issued.

            9.2 Transfer and Exchange of the Warrant. Upon the surrender of the
Warrant, properly endorsed, for registration of transfer or for exchange at the
principal office of the Company, the Company at its expense shall (subject to
compliance with Section 6, if applicable) execute and deliver to or upon the
order of the Holder thereof a new Warrant or Warrants of like tenor, in the name
of such Holder or as such Holder (upon payment by such Holder of any applicable
transfer taxes) may direct, calling in the aggregate on the face or faces
thereof for the number of shares of Common Stock called for on the face or faces
of the Warrant or Warrants so surrendered.

            9.3 Division and Combination of the Warrant. Subject to compliance
with Section 6, the Warrant may be divided or combined with other Warrants upon
presentation thereof at the Office of the Company, together with a written
notice specifying the name

                                       20
<PAGE>

or names and denomination or denominations in which a new Warrant or Warrants
are to be issued, signed by Holder or by the duly appointed legal representative
thereof. Subject to compliance with Section 6 as to any transfer which may be
involved in such division or combination, the Company shall execute and deliver
a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided
or combined in accordance with such notice.

            9.4 Replacement of the Warrant. Upon receipt of evidence reasonably
satisfactory to the Company of the loss, theft, destruction or mutilation of any
Warrant and, in the case of any such loss, theft or destruction of any Warrant
held by a Person other than the Purchaser, upon delivery of indemnity reasonably
satisfactory to the Company in form and amount or, in the case of any such
mutilation, upon surrender of such Warrant for cancellation at the principal
office of the Company, the Company at its expense shall execute and deliver, in
lieu thereof, a new Warrant of like tenor.

            10. Definitions. As used herein, unless the context otherwise
requires, the following terms have the following respective meanings:

            Acquisition Agreement: the meaning specified in the second paragraph
of the Warrant.

            Additional Shares of Common Stock: all shares (including treasury
shares) of Common Stock issued or sold by the Company after the Closing Date,
whether or not subsequently reacquired or retired by the Company, other than (i)
shares of Common Stock issued upon the exercise of the Warrant, (ii) shares
issued or sold pursuant to the exercise or conversion of options, warrants, or
convertible securities outstanding as of November 19, 1999 or (iii) shares
issued or sold pursuant to options, warrants or other Convertible Securities
issued or granted under the Company's Employee Stock Purchase Plan after
November 19, 1999, or any successor plan thereto, to the extent such shares are
issued or sold at a purchase price not less than 85% of the Fair Market Value as
of the date any such options, warrants or other Convertible Securities were
issued or granted.

            Affiliate: with respect to any Person, any other Person that
directly or indirectly, through one or more intermediaries, controls, or is
controlled by, or is under common control with, such Person.

            Applicable Percentage: the meaning specified in Section 5.3.

            Applicable Portion: the meaning specified in Section 5.3.

            Applicable Share Valuation: the annual valuation of the shares of
Common Stock of the Company performed by an independent valuation firm chosen by
the Board

                                       21
<PAGE>

of Directors of the Company as of the last day of the last fiscal year ending
prior to the date on which the Board shall make a determination of the Fair
Market Value of the shares of Common Stock of the Company, except that, in the
case of a Board determination occurring during the fourth fiscal quarter of any
fiscal year beginning with the fourth quarter of the 1998 fiscal year, the term
"Applicable Share Valuation" shall mean the annual valuation of the shares of
Common Stock of the Company performed by an independent valuation firm chosen by
the Board as of the last day of such fourth fiscal quarter. Such annual
valuations shall be performed for the 1999 fiscal year and for each fiscal year
ending thereafter and prior to any initial Public Offering as promptly as
practicable following the end of each such fiscal year.

            Assets: the meaning specified in Section 2.3.

            Beneficially Own: with respect to any securities shall mean having
"beneficial ownership" of such securities (as determined pursuant to Rule 13d-3
under the Exchange Act), including pursuant to any agreement, arrangement or
understanding, whether or not in writing.

            Business Day: a day other than a Saturday or Sunday or other day on
which commercial banking institutions in the City of New York are authorized by
law to be closed.

            CD&R Fund: Clayton, Dubilier & Rice Fund V Limited Partnership, a
Cayman Islands exempted limited partnership (together with any successor
investment vehicle managed by Clayton, Dubilier & Rice, Inc.).

            Closing Date: the meaning specified in the second paragraph of the
Warrant.

            Commission: the Securities and Exchange Commission or any other
Federal agency at the time administering the Securities Act or the Exchange Act,
whichever is the relevant statute for the particular purpose.

            Common Stock: the Company's Common Stock, as constituted on the date
hereof, any stock into which such Common Stock shall have been changed or any
stock resulting from any reclassification of such Common Stock, and all other
stock of any class or classes (however designated) of the Company the holders of
which have the right, without limitation as to amount, either to all or to a
share of the balance of current dividends and liquidating dividends after the
payment of dividends and distributions on any shares entitled to preference.

                                       22
<PAGE>

            Company: the meaning specified in the first paragraph of the
Warrant.

            Convertible Securities: any evidences of indebtedness, shares of
stock (other than Common Stock) or other securities directly or indirectly
convertible into or exchangeable for Additional Shares of Common Stock.

            Drag-Along Closing: the meaning specified in Section 5.3.

            Drag-Along Notice: the meaning specified in Section 5.3.

            Drag-Along Offer: the meaning specified in Section 5.3.

            Drag-Along Price: the meaning specified in Section 5.3.

            Exchange Act: the Securities Exchange Act of 1934, as amended, or
any successor Federal statute and the rules and regulations thereunder, which
shall be in effect at the time. Any reference to a particular section of the
Securities Exchange Act of 1934 shall include a reference to the corresponding
section, if any, of any such successor statute.

            Exercise Price: the meaning specified in Section 1.1.

            Fair Market Value: as of any date, the fair market value on such
date of a share of Common Stock as determined in good faith by the Board. In
making a determination of Fair Market Value, the Board shall give due
consideration to such factors as it deems appropriate, including, without
limitation, the earnings and certain other financial and operating information
of Holding and the Subsidiaries in recent periods, the potential value of
Holding and the Subsidiaries as a whole, the future prospects of Holding and the
Subsidiaries and the industries in which they compete, the history and
management of Holding and the Subsidiaries, the general condition of the
securities markets, the fair market value of securities of companies engaged in
businesses similar to those of Holding and the Subsidiaries and the Applicable
Share Valuation. The determination of Fair Market Value will not give effect to
any restrictions on transfer of the shares of Common Stock or the fact that such
Common Stock would represent a minority interest in Holding. Notwithstanding the
foregoing, following a Public Offering, Fair Market Value shall mean the average
of the high and low trading prices for a share of Common Stock on the primary
national exchange (including NASDAQ) on which the Common Stock is then traded on
the trading day immediately preceding the date as of which such Fair Market
Value is determined.

            First Refusal Period: the meaning specified in Section 5.2.

                                       23
<PAGE>

            Holder:  the meaning specified in Section 1.1.

            Initial Exercise Shares: the meaning specified in the opening
paragraphs of the Warrant.

            NASD: the National Association of Securities Dealers, Inc.

            Offer Price: the meaning specified in Section 5.2.

            Offer Terms: the meaning specified in Section 5.2.

            Other Securities: any stock (other than Common Stock) and other
securities of the Company or any other Person (corporate or otherwise) which the
Holder at any time shall be entitled to receive, or shall have received, upon
the exercise of the Warrant, in lieu of or in addition to Common Stock, or which
at any time shall be issuable or shall have been issued in exchange for or in
replacement of Common Stock or other securities pursuant to Section 2.8 or
otherwise.

            Person: an individual, a partnership, a limited liability company,
an association, a joint venture, a corporation, a business, a trust, an
unincorporated organization or a government or any department, agency or
subdivision thereof.

            Preferred Stock: the shares of preferred stock of the Company, par
value $.001 per share.

            Public Offering: any underwritten public offering of Common Stock
led by one or more underwriters at least one of which is of nationally
recognized standing pursuant to an effective registration statement under the
Securities Act.

            Purchaser: the meaning specified in the first paragraph of the
Warrant.

            Registration and Participation Agreement: the meaning specified in
Section 6.

            Restricted Securities: (i) any Warrants bearing the applicable
legend set forth in Section 5.1(a), (ii) any shares of Common Stock (or Other
Securities) which have been issued upon the exercise of Warrants and which are
evidenced by a certificate or certificates bearing the applicable legend set
forth in Section 5.1(b), and (iii) unless the context otherwise requires, any
shares of Common Stock (or Other Securities) which are at the time issuable upon
the exercise of the Warrants and which, when so issued, shall be

                                       24
<PAGE>

evidenced by a certificate or certificates bearing the applicable legend set
forth in Section 5.1(b).

            Second Refusal Period: the meaning specified in Section 5.2.

            Securities Act: the Securities Act of 1933, as amended, or any
successor Federal statute, and the rules and regulations thereunder, which shall
be in effect at the time. Any reference to a particular section of the
Securities Act of 1933 shall include a reference to the corresponding section,
if any, of any such successor statute.

            Subsidiary: as to any Person, any corporation at least a majority of
the shares of stock of which having general voting power under ordinary
circumstances to elect a majority of the Board of Directors of such corporation
(irrespective of whether or not at the time stock of any other class or classes
shall have or might have voting power by reason of the happening of any
contingency) is, at the time as of which the determination is being made, owned
by such Person, or one or more of its Subsidiaries or by such Person and one or
more of its Subsidiaries.

            Third Party Buyer: any Person who is not an Affiliate of the CD&R
Fund and who does not own shares of common stock in a company (other than the
Company) in which an investment fund managed by Clayton, Dubilier & Rice, Inc.
has made an investment.

            Transaction: the meaning specified in Section 2.8.

            Transfer: unless the context otherwise requires, any sale,
assignment, pledge or other disposition of any security, or of any interest
therein, which could constitute a "sale" as that term is defined in Section 2(3)
of the Securities Act.

            Transfer Notice: the meaning specified in Section 5.1.

            Warrant: the meaning specified in the second paragraph of the
Warrant.

            Warrant Price: the meaning specified in Section 2.1.

            Warrant Shares: the shares of Common Stock (and Other Securities)
issuable upon exercise of the Warrant.

            11. Rights of Holders. Except as otherwise specifically required
herein, holders of unexercised Warrants are not entitled (i) to receive
dividends or other distributions, (ii) to receive notice of or vote at any
meeting of the stockholders of the Company,

                                       25
<PAGE>

(iii) to consent to any action of the stockholders of the Company, (iv) to
receive notice of any other proceedings of the Company or (v) to exercise any
other rights as stockholders of the Company.

            12. Notices. All notices, requests, demands, waivers and other
communications required or permitted to be given under the Warrant, except
notices of the exercise of any Warrant (which shall be effected in the manner
provided in Section 1), shall be deemed to have been duly given if (a) delivered
personally, (b) mailed, certified or registered mail with postage prepaid, (c)
sent by next-day or overnight mail or delivery or (d) sent by telecopy or
telegram (with telephone confirmation), as follows:

            (a) if to the Purchaser, to it at:

                  NFC International Holdings (Netherlands II) BV
                  Overschieseweg 323
                  3112 NC Schiedam
                  The Netherlands

            Attention: Company Secretary of NFC p/c

            (b) if to NFC plc, to it at:

                  NFC plc
                  66 Chiltern Street
                  London WIN 3LT
                  England

            Attention: Company Secretary

            With copies to:

            Kirkland & Ellis
            Citicorp Centre
            153 East 53rd Street
            New York, NY 10022
            Fax: 212-446-4900
            Tel: 212-446-4940
            Attention: Kirk A. Radke

            and

                                       26
<PAGE>

            Ashurst Morris Crisp
            Broadwalk House
            5 Appold Street
            London England EC2A 2HA
            Fax: (44 171) 972-7990
            Tel: (44 171) 972-7710
            Attention: Geoffrey Green

            (c) if to any other Holder or any holder of any Common Stock (or
            Other Securities), at the registered address of such Holder as set
            forth in the register kept at the principal office of the Company,

            (d)  if to the Company, to it at:

                  NA Holding Corporation
                  c/o North American Van Lines, Inc.
                  5001 U.S. HWY 30 West
                  P.O. Box 988
                  Ft. Wayne, Indiana, 46801-0988
                  Fax: 219-429-3135
                  Tel: 219-429-2511
                  Attention: General Counsel

            with a copy to:

                  Debevoise & Plimpton
                  875 Third Avenue
                  New York, New York  10022
                  Fax: 212-909-6836
                  Tel: 212-909-6000
                  Attention: Paul S. Bird

            (e) if to the CD&R Fund, to it at:

                  Clayton, Dubilier & Rice Fund V
                  Limited Partnership
                  1403 Foulk Road, Suite 106
                  Wilmington, Delaware 19803

                                       27
<PAGE>

                  Attention: General Partner

            with a copy to:

                  Debevoise & Plimpton
                  875 Third Avenue
                  New York, New York  10022
                  Fax: 212-909-6836
                  Tel: 212-909-6000
                  Attention: Paul S. Bird

            13. Amendment. The Warrant and any term hereof may be changed,
waived, discharged or terminated only by an instrument in writing signed by the
party against which enforcement of such change, waiver, discharge or termination
is sought.

            14. Successors and Assigns. All agreements of the Company and the
Purchaser in this Warrant shall bind each of their respective successors and
assigns.

            15. Third Party Beneficiary. It is expressly agreed that the CD&R
Fund is a third party beneficiary of Sections 5.1, 5.2, 5.3, 5.4, 5.5 and 6.

            16. Miscellaneous. The section headings in the Warrant are for
purposes of convenience only and shall not constitute a part hereof. THE WARRANT
SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF
THE STATE OF NEW YORK (WITHOUT GIVING EFFECT TO ITS PRINCIPLES OR RULES OF
CONFLICT OF LAWS TO THE EXTENT SUCH PRINCIPLES OR RULES WOULD REQUIRE OR PERMIT
THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION).

                                       28
<PAGE>

                             NA Holding Corporation

                             By: /s/R. Barry Uber
                                 --------------------------------------------
                                 Name: R. Barry Uber
                                 Title: President and Chief Executive Officer

<PAGE>

                              FORM OF SUBSCRIPTION

                 (To be executed only upon exercise of Warrant)

To: NA Holding Corporation

            The undersigned registered holder of the within Warrant hereby
irrevocably exercises such Warrant for, and purchases thereunder, ________*
shares of Common Stock of NA Holding Corporation, and herewith makes payment [of
$ ]** [by application, pursuant to Section 1.1(b) of such Warrant, of [a portion
of] the Warrant representing a right to purchase ________* shares of Common
Stock],*** and requests that the certificates for such shares be issued in the
name of, and delivered to ______________ whose address is __________.

Dated: ______________

                                    NFC International Holdings
                                          (Netherlands II) BV****
                                    [Address]

                                By __________________________
                                   Name:
                                *  Title:

----------
*     Insert here the number of shares called for on the face of the Warrant
      (or, in the case of a partial exercise, the portion thereof as to which
      the Warrant is being exercised), in either case without making any
      adjustment for additional Common Stock or any other stock or other
      securities or property or cash which, pursuant to the adjustment
      provisions of the Warrant, may be delivered upon exercise. In the case of
      a partial exercise, a new Warrant or Warrants shall be issued and
      delivered, representing the unexercised portion of the Warrant, to the
      holder surrendering the same.

**    Delete inapplicable language in brackets.

***   Delete inapplicable language in brackets.

****  Signature must conform in all respects to name of holder as specified on
      the face of the Warrant.

<PAGE>

                               FORM OF ASSIGNMENT

             (To be executed only upon transfer of Warrant)

            For value received, the undersigned registered holder of the within
Warrant hereby sells, assigns and transfers unto ________________ the right
represented by such Warrant to purchase ______ shares of Common Stock of NA
Holding Corporation to which such Warrant relates, and appoints ___________
Attorney to make such transfer on the books of NA Holding Corporation maintained
for such purpose, with full power of substitution in the premises.

Dated: ______________

                                    NFC International Holdings
                                         (Netherlands II) BV*
                                    [Address]

                                By  /s/
                                    -----------------------------
                                    Name:
                                    Title:

Signed in the presence of:

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

----------
*     Signature must conform in all respects to name of holder as specified on
      the face of the Warrant.<PAGE>
                                                                    EXHIBIT 10.6

                            INDEMNIFICATION AGREEMENT

      INDEMNIFICATION AGREEMENT, dated as of March 30, 1998, among NA Holding
Corporation, a Delaware corporation ("Holding"), NA Acquisition Corporation, a
Delaware corporation ("NA Acquisition"), North American Van Lines, Inc., a
Delaware corporation (the "Company"), Clayton, Dubilier & Rice, Inc., a Delaware
corporation ("CD&R"), and Clayton, Dubilier & Rice Fund V Limited Partnership, a
Cayman Islands exempted limited partnership (together with any other investment
vehicle managed by CD&R, the "CD&R Fund"). Capitalized terms used herein and not
otherwise defined shall have the meanings set forth in Section 1 of this
Agreement.

                              W I T N E S S E T H :

      WHEREAS, the CD&R Fund is managed by CD&R, and the general partner of the
CD&R Fund is Clayton, Dubilier & Rice Associates V Limited Partnership, a Cayman
Islands exempted limited partnership (together with any general partner of any
other investment vehicle managed by CD&R, "CD&R Associates") and the general
partner of CD&R Associates is CD&R Investment Associates, Inc., a Delaware
corporation (together with any other general partner of CD&R Associates,
"Associates Inc.");

      WHEREAS, CD&R has organized Holding and NA Acquisition to acquire all of
the outstanding shares of capital stock of the Company from Norfolk Southern
Corporation, a Virginia corporation ("Norfolk Southern"), pursuant to a certain
Stock Purchase Agreement, (as amended from time to time, the "Stock Purchase
Agreement") between NA Acquisition and Norfolk Southern and a certain Preferred
Shares Stock Purchase Agreement, dated as of January 9, 1998, between NA
Acquisition and J.P. Morgan Ventures Corporation, a Delaware corporation ("J.P.
Morgan Ventures") (such transactions being hereinafter referred to as the
"Acquisition");

      WHEREAS, for the purpose of financing the Acquisition, Holding is
offering, issuing and selling (i) an aggregate of up to 650,000 shares of its
Common Stock, par value $.01 per share (the "Common Stock"), to the CD&R Fund
and (ii) up to an aggregate of up to 43,500 shares of Common Stock to certain
purchasers who currently are executive officers or key employees of Holding, the
Company or one of its subsidiaries, (such transactions collectively, the "Equity
Offering");
<PAGE>

      WHEREAS, for the purpose of financing the Acquisition, NA Acquisition will
enter into a Credit Agreement (the "Credit Agreement"), dated as of March 30,
1998, with the several banks and other financial institutions from time to time
parties thereto (the "Lenders"), The Chase Bank Manhattan Bank as collateral,
documentation and administrative agent for the Lenders thereunder (the
"Administrative Agent") and The Bank of New York as syndication agent (the
transactions contemplated thereby being hereinafter referred to as the
"Financing");

      WHEREAS, at the closing of the Financing, NA Acquisition will make certain
borrowings pursuant to the Credit Agreement;

      WHEREAS, at the closing of the Financing, the Company will assume certain
rights and liabilities of NA Acquisition as successor in interest under the
Credit Agreement pursuant to an Assumption Agreement (the "Assumption
Agreement"), including the right to make borrowings and to obtain letters of
credit under the Credit Agreement;

      WHEREAS, in connection with the Financing, Holding and the Company will,
among other things, guarantee certain obligations of NA Acquisition pursuant to
a guarantee and collateral agreement (the "Guarantee and Collateral Agreement")
and enter into other security arrangements in connection with the Financing;

      WHEREAS, at the closing of the Acquisition, it is contemplated that NA
Acquisition will be merged with and into the Company (the "Merger"), leaving the
Company as the surviving entity and a wholly-owned subsidiary of Holding;

      WHEREAS, the CD&R Fund will purchase capital stock of Holding pursuant to
the Equity Offering, becoming the majority stockholder of Holding;

      WHEREAS, Holding, the Company, NA Acquisition or one or more of their
respective Subsidiaries (as hereinafter defined) from time to time in the future
(a) may offer and sell or cause to be offered and sold equity or debt securities
(such offerings, together with the Equity Offering, being hereinafter referred
to as the "Securities Offerings"), including without limitation (i) offerings of
shares of capital stock of Holding and/or options to purchase such shares to
employees, directors, managers and consultants of and to Holding, the Company,
NA Acquisition or any Subsidiary (a "Management Offering"), and (ii) one or more
offerings of debt securities for the purpose of refinancing any indebtedness of
Holding, the Company, NA Acquisition or any Subsidiary or for other corporate
purposes, and (b) may repurchase, redeem or otherwise acquire certain securities
of Holding, the Company, NA Acquisition or one or more of their respective
Subsidiaries (any such repurchase or redemption being referred to herein as a
"Redemption");

                                       2
<PAGE>

      WHEREAS, the parties hereto recognize the possibility that claims might be
made against and liabilities incurred by CD&R, the CD&R Fund, CD&R Associates,
Associates Inc. or related persons or affiliates under applicable securities
laws or otherwise in connection with the Transactions or the Securities
Offerings, or relating to other actions or omissions of or by Holding, NA
Acquisition or the Company, or relating to the provision by CD&R of management
consulting, monitoring and financial advisory services to Holding, NA
Acquisition and the Company, and the parties hereto accordingly wish to provide
for CD&R, the CD&R Fund, CD&R Associates, Associates Inc. and related persons
and affiliates to be indemnified in respect of any such claims and liabilities;
and

      WHEREAS, the parties hereto recognize that claims might be made against
and liabilities incurred by directors and officers of Holding, NA Acquisition,
the Company and any Subsidiary in connection with their acting in such capacity,
and accordingly wish to provide for such directors and officers to be
indemnified to the fullest extent permitted by law in respect of any such claims
and liabilities;

      NOW, THEREFORE, in consideration of the foregoing premises, and the mutual
agreements and covenants and provisions herein set forth, the parties hereto
hereby agree as follows:

      1. Definitions.

      (a) "Claim" means, with respect to any Indemnitee, any claim against such
Indemnitee involving any Obligation with respect to which such Indemnitee may be
entitled to be defended and indemnified by Holding, the Company or NA
Acquisition under this Agreement.

      (b) "Consulting Agreement" means the Consulting Agreement, dated as of
March 30, 1998, among Holding, the Company and CD&R, as the same may be amended,
waived, modified or supplemented from time to time.

      (c) "Indemnitee" means each of CD&R, the CD&R Fund, CD&R Associates Inc.,
and their respective directors, officers, partners, employees, agents, advisors,
representatives and controlling persons (within the meaning of the Securities
Act of 1933, as amended (the "Securities Act")) and each other person who is or
becomes a director or an officer of Holding, the Company, NA Acquisition or any
Subsidiary.

      (d) "Obligations" means, collectively, any and all claims, obligations,
liabilities, causes of actions, actions, suits, proceedings, investigations,
judgments, decrees, losses,

                                       3
<PAGE>

damages, fees, costs and expenses (including without limitation interest,
penalties and fees and disbursements of attorneys, accountants, investment
bankers and other professional advisors), in each case whether incurred, arising
or existing with respect to third parties or otherwise at any time or from time
to time.

      (e) "Related Document" means any agreement, certificate, instrument or
other document to which Holding, the Company, NA Acquisition or any Subsidiary
may be a party or by which it or any of its properties or assets may be bound or
affected from time to time relating in any way to the Transactions or any
Securities Offering or any of the transactions contemplated thereby, including
without limitation, in each case as the same may be amended, modified, waived or
supplemented from time to time, (A) any registration statement filed by or on
behalf of Holding, the Company, NA Acquisition or any Subsidiary with the
Securities and Exchange Commission (the "Commission") in connection with the
Transactions or any Securities Offering, including all exhibits, financial
statements and schedules appended thereto, and any submissions to the Commission
in connection therewith, (B) any prospectus, preliminary or otherwise, included
in such registration statements or otherwise filed by or on behalf of Holding,
the Company, NA Acquisition or any Subsidiary in connection with the
Transactions or any Securities Offering or used to offer or confirm sales of
their respective securities in any Securities Offering, (C) any private
placement or offering memorandum or circular, or other information or materials
distributed by or on behalf of Holding, the Company, NA Acquisition or any
Subsidiary or any placement agent or underwriter in connection with the
Transactions or any Securities Offering, (D) any federal, state or foreign
securities law or other governmental or regulatory filings or applications made
in connection with any Securities Offering, the Transactions or any of the
transactions contemplated thereby, (E) any underwriting, subscription, purchase,
option or registration rights agreement or plan entered into or adopted by
Holding, the Company, NA Acquisition or any Subsidiary in connection with any
Securities Offering or (F) any purchase, repurchase, redemption or other
agreement entered into by Holding, the Company, NA Acquisition or any Subsidiary
in connection with any Redemption.

      (f) "Subsidiary" means each corporation or other person or entity in which
Holding, the Company or NA Acquisition owns or controls, directly or indirectly,
capital stock or other equity interests representing at least 25% of the
outstanding voting stock or other equity interests.

      (g) "Transactions" means the Acquisition, the Merger and the Financing.

      2. Indemnification.

                                       4
<PAGE>

      (a) Each of Holding, the Company and NA Acquisition (each an "Indemnifying
Party" and collectively, the "Indemnifying Parties"), jointly and severally,
agrees to indemnify, defend and hold harmless each Indemnitee:

            (i) from and against any and all Obligations, whether incurred with
      respect to third parties or otherwise, in any way resulting from, arising
      out of or in connection with, based upon or relating to (A) the Securities
      Act, the Securities Exchange Act of 1934, as amended (the "Exchange Act"),
      or any other applicable securities or other laws, in connection with any
      Securities Offering, the Financing, any Related Document or any of the
      transactions contemplated thereby, (B) any other action or failure to act
      of Holding, the Company, NA Acquisition or any Subsidiary or any of their
      predecessors, whether such action or failure has occurred or is yet to
      occur or (C) except to the extent that any such Obligation is found in a
      final judgment by a court of competent jurisdiction to have resulted from
      the gross negligence or intentional misconduct of CD&R, the performance by
      CD&R of management consulting, monitoring, financial advisory or other
      services for Holding, the Company or NA Acquisition (whether pursuant to
      the Consulting Agreement or otherwise); and

            (ii) to the fullest extent permitted by Delaware law, from and
      against any and all Obligations in any way resulting from, arising out of
      or in connection with, based upon or relating to (A) the fact that such
      Indemnitee is or was a director or an officer of Holding, the Company, NA
      Acquisition or any Subsidiary, as the case may be, or is or was serving at
      the request of such corporation as a director, officer, employee or agent
      of or advisor or consultant to another corporation, partnership, joint
      venture, trust or other enterprise or (B) any breach or alleged breach by
      such Indemnitee of his or her fiduciary duty as a director or an officer
      of Holding, the Company, NA Acquisition or any Subsidiary, as the case may
      be;

in each case including but not limited to any and all fees, costs and expenses
(including without limitation fees and disbursements of attorneys) incurred by
or on behalf of any Indemnitee in asserting, exercising or enforcing any of its
rights, powers, privileges or remedies in respect of this Agreement or the
Consulting Agreement.

      (b) Without in any way limiting the foregoing Section 2(a), each of the
Indemnifying Parties agrees, jointly and severally, to indemnify, defend and
hold harmless each Indemnitee from and against any and all Obligations resulting
from, arising out of or in connection with, based upon or relating to
liabilities under the Securities Act, the Exchange Act or any other applicable
securities or other laws, rules or regulations in connection with (i) the
inaccuracy or breach of or default under any representation, warranty, covenant
or agreement in any Related

                                       5
<PAGE>

Document, (ii) any untrue statement or alleged untrue statement of a material
fact contained in any Related Document or (iii) any omission or alleged omission
to state in any Related Document a material fact required to be stated therein
or necessary to make the statements therein not misleading. Notwithstanding the
foregoing, the Indemnifying Parties shall not be obligated to indemnify such
Indemnitee from and against any such Obligation to the extent that such
Obligation arises out of or is based upon an untrue statement or omission made
in such Related Document in reliance upon and in conformity with written
information furnished to Holding, the Company or NA Acquisition, as the case may
be, in an instrument duly executed by such Indemnitee and specifically stating
that it is for use in the preparation of such Related Document.

      3. Contribution.

      (a) Except to the extent that Section 3(b) is applicable, if for any
reason the indemnity provided for in Section 2(a) is unavailable or is
insufficient to hold harmless any Indemnitee from any of the Obligations covered
by such indemnity, then the Indemnifying Parties, jointly and severally, shall
contribute to the amount paid or payable by such Indemnitee as a result of such
Obligation in such proportion as is appropriate to reflect (i) the relative
fault of each of Holding, the Company, NA Acquisition and their Subsidiaries, on
the one hand, and such Indemnitee, on the other, in connection with the state of
facts giving rise to such Obligation, (ii) if such Obligation results from,
arises out of, is based upon or relates to the Transactions or any Securities
Offering, the relative benefits received by each of Holding, the Company, NA
Acquisition and their Subsidiaries, on the one hand, and such Indemnitee, on the
other, from such Transaction or Securities Offering and (iii) if required by
applicable law, any other relevant equitable considerations.

      (b) If for any reason the indemnity specifically provided for in Section
2(b) is unavailable or is insufficient to hold harmless any Indemnitee from any
of the Obligations covered by such indemnity, then the Indemnifying Parties,
jointly and severally, shall contribute to the amount paid or payable by such
Indemnitee as a result of such Obligation in such proportion as is appropriate
to reflect (i) the relative fault of each of Holding, the Company, NA
Acquisition and their Subsidiaries, on the one hand, and such Indemnitee, on the
other, in connection with the information contained in or omitted from any
Related Document, which inclusion or omission resulted in the inaccuracy or
breach of or default under any representation, warranty, covenant or agreement
therein, or which information is or is alleged to be untrue, required to be
stated therein or necessary to make the statements therein not misleading, (ii)
the relative benefits received by Holding, the Company, NA Acquisition and their
Subsidiaries, on the one hand, and such Indemnitee, on the other, from

                                       6
<PAGE>

such Transaction or Securities Offering and (iii) if required by applicable law,
any other relevant equitable considerations.

      (c) For purposes of Section 3(a), the relative fault of each of Holding,
the Company, NA Acquisition and their Subsidiaries, on the one hand, and of the
Indemnitee, on the other, shall be determined by reference to, among other
things, their respective relative intent, knowledge, access to information and
opportunity to correct the state of facts giving rise to such Obligation. For
purposes of Section 3(b), the relative fault of each of Holding, the Company, NA
Acquisition and their Subsidiaries, on the one hand, and of the Indemnitee, on
the other, shall be determined by reference to, among other things, (i) whether
the included or omitted information relates to information supplied by Holding,
the Company, NA Acquisition and their Subsidiaries, on the one hand, or by such
Indemnitee, on the other, and (ii) their respective relative intent, knowledge,
access to information and opportunity to correct such inaccuracy, breach,
default, untrue or alleged untrue statement, or omission or alleged omission.
For purposes of Section 3(a) or 3(b), the relative benefits received by each of
Holding, the Company, NA Acquisition and their Subsidiaries, on the one hand,
and the Indemnitee, on the other, shall be determined by weighing the direct
monetary proceeds to Holding, the Company, NA Acquisition and their
Subsidiaries, on the one hand, and such Indemnitee, on the other, from such
Transaction or Securities Offering.

      (d) The parties hereto acknowledge and agree that it would not be just and
equitable if contributions pursuant to Section 3(a) or 3(b) were determined by
pro rata allocation or by any other method of allocation that does not take into
account the equitable considerations referred to in such respective Section. The
Indemnifying Parties shall not be liable under Section 3(a) or 3(b), as
applicable, for contribution to the amount paid or payable by any Indemnitee
except to the extent and under such circumstances the Indemnifying Parties would
have been liable to indemnify, defend and hold harmless such Indemnitee under
the corresponding Section 2(a) or 2(b), as applicable, if such indemnity were
enforceable under applicable law. No Indemnitee shall be entitled to
contribution from the Indemnifying Parties with respect to any Obligation
covered by the indemnity specifically provided for in Section 2(b) in the event
that such Indemnitee is finally determined to be guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Securities Act) in
connection with such Obligation and the Indemnifying Parties are not guilty of
such fraudulent misrepresentation.

                                       7
<PAGE>

      4. Indemnification Procedures.

      (a) Whenever any Indemnitee shall have actual knowledge of the reasonable
likelihood of the assertion of a Claim, CD&R (acting on its own behalf or, if
requested by any such Indemnitee other than itself, on behalf of such
Indemnitee) or such Indemnitee shall notify Holding, the Company, NA Acquisition
or the appropriate Subsidiary, as the case may be, in writing of the Claim (the
"Notice of Claim") with reasonable promptness after such Indemnitee has such
knowledge relating to such Claim and has notified CD&R thereof. The Notice of
Claim shall specify all material facts known to CD&R (or if given by such
Indemnitee, such Indemnitee) that may give rise to such Claim and the monetary
amount or an estimate of the monetary amount of the Obligation involved if CD&R
(or if given by such Indemnitee, such Indemnitee) has knowledge of such amount
or a reasonable basis for making such an estimate. The failure of CD&R to give
such Notice of Claim shall not relieve the Indemnifying Parties of their
respective indemnification obligations under this Agreement except to the extent
that such omission results in a failure of actual notice to them and they are
materially injured as a result of the failure to give such Notice of Claim. The
Indemnifying Parties shall, at their expense, undertake the defense of such
Claim with attorneys of their own choosing satisfactory in all respects to CD&R.
CD&R may participate in such defense with counsel of CD&R's choosing at the
expense of the Indemnifying Parties. In the event that the Indemnifying Parties
do not undertake the defense of the Claim within a reasonable time after CD&R
has given the Notice of Claim, or in the event that CD&R shall in good faith
determine that the defense of any claim by the Indemnifying Parties is
inadequate or may conflict with the interest of any Indemnitee, CD&R may, at the
expense of the Indemnifying Parties and after giving notice to the Indemnifying
Parties of such action, undertake the defense of the Claim and compromise or
settle the Claim, all for the account of and at the risk of the Indemnifying
Parties. In the defense of any Claim, the Indemnifying Parties shall not, except
with the prior written consent of CD&R, consent to entry of any judgment or
enter into any settlement that includes any injunctive or other non-monetary
relief, or that does not include as an unconditional term thereof the giving by
the person or persons asserting such Claim to such Indemnitee of a release from
all liability with respect to such Claim. In each case, CD&R and each other
Indemnitee seeking indemnification hereunder will cooperate with the
Indemnifying Parties, so long as the Indemnifying Parties are conducting the
defense of the Claim, in the preparation for and the prosecution of the defense
of such Claim, including making available evidence within the control of CD&R or
such Indemnitee, as the case may be, and persons needed as witnesses who are
employed by CD&R or such Indemnitee, as the case may be, in each case as
reasonably needed for such defense and at cost, which cost, to the extent
reasonably incurred, shall be paid by the Indemnifying Parties.

                                       8
<PAGE>

      (b) The Indemnifying Parties hereby agree to advance costs and expenses,
including attorney's fees, incurred by CD&R (acting on its own behalf or, if
requested by any such Indemnitee other than itself, on behalf of such
Indemnitee) or any Indemnitee in defending any Claim in advance of the final
disposition of such Claim upon receipt of an undertaking by or on behalf of CD&R
or such Indemnitee to repay amounts so advanced if it shall ultimately be
determined that CD&R or such Indemnitee is not entitled to be indemnified by the
Indemnifying Parties as authorized by this Agreement.

      (c) CD&R shall notify the Indemnifying Parties in writing of the amount of
any Claim actually paid by CD&R (the "Notice of Payment"). The amount of any
Claim actually paid by CD&R shall bear simple interest at the rate equal to The
Chase Manhattan Bank prime rate as of the date of such payment plus 2% per
annum, from the date the Indemnifying Parties receives the Notice of Payment to
the date on which the Indemnifying Parties shall repay the amount of such Claim
plus interest thereon to CD&R.

      5. Certain Covenants. Holding agrees to cause the Company and NA
Acquisition to perform its obligations under this Agreement. The rights of each
Indemnitee to be indemnified under any other agreement, document, certificate or
instrument or applicable law are independent of and in addition to any rights of
such Indemnitee to be indemnified under this Agreement. The rights of each
Indemnitee and the obligations of Holding, the Company and NA Acquisition
hereunder shall remain in full force and effect regardless of any investigation
made by or on behalf of such Indemnitee. Each of Holding, the Company and NA
Acquisition shall maintain the State of Delaware as its state of incorporation
and shall implement and maintain in full force and effect any and all corporate
charter and by-law provisions that may be necessary or appropriate to enable it
to carry out its obligations hereunder to the fullest extent permitted by
Delaware corporate law, including without limitation a provision of its
certificate of incorporation eliminating liability of a director for breach of
fiduciary duty to the fullest extent permitted by Section 102(b)(7) (or any
successor section thereto) of the General Corporation Law of the State of
Delaware, as it may be amended from time to time.

      6. Notices. All notices and other communications hereunder shall be in
writing and shall be delivered by certified or registered mail (first class
postage prepaid and return receipt requested), telecopier, overnight courier or
hand delivery, as follows:

                                       9
<PAGE>

      (a)   if to NA Acquisition, to:

            NA Acquisition Corporation
            c/o North American Van Lines, Inc.
            5001 U.S. Hwy 30 West
            Fort Wayne, Indiana 46801-0988
            Attention: General Counsel
            Telecopier: (219) 429-3135

            with a copy to:

            Clayton, Dubilier & Rice, Inc.
            375 Park Avenue
            New York, New York 10152
            Attention: Kevin J. Conway
            Telecopier: (212) 407-5252

      (b)   if to Holding, to it care of the Company at the addresses set forth
            above.

      (c)   if to the Company, to:

            North American Van Lines, Inc.
            5001 U.S. Hwy 30 West
            Fort Wayne, Indiana 46801-0988
            Attention: General Counsel
            Telecopier: (219) 429-3135

      (d)   if to the CD&R Fund, to:

            Clayton, Dubilier & Rice Fund V Limited Partnership
            1403 Foulk Road, Suite 106
            Wilmington, Delaware 19803
            Attention: General Partner

            with a copy to:

                                       10
<PAGE>

            Clayton, Dubilier & Rice, Inc.
            375 Park Avenue
            New York, New York 10152
            Attention: Kevin J. Conway
            Telecopier: (212) 407-5252

      (e)   if to CD&R or any other Indemnitee, to:

            Clayton, Dubilier & Rice, Inc.
            375 Park Avenue
            New York, New York 10022
            Attention: Kevin J. Conway
            Telecopier: (212) 407-5252

or to such other address or such other person as Holding, the Company, NA
Acquisition, CD&R or the CD&R Fund, as the case may be, shall have designated by
notice to the other parties hereto. All communications hereunder shall be
effective upon receipt by the party to which they are addressed. A copy of any
notice or other communication given under this Agreement shall also be given to:

            Debevoise & Plimpton
            875 Third Avenue
            New York, New York 10022
            Attention: Paul S. Bird, Esq.
            Telecopier: (212) 909-6836

      7. Governing Law. This Agreement shall be governed in all respects,
including validity, interpretation and effect, by the law of the State of New
York, regardless of the law that might be applied under principles of conflict
of laws, except to the extent that the corporate law of the State of Delaware
specifically and mandatorily applies, in which case such law shall apply.

      8. Severability. If any provision or provisions of this Agreement shall be
held to be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions hereof shall not in any way be
affected or impaired thereby.

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

                                       11
<PAGE>

This Agreement shall be binding upon and inure to the benefit of each party
hereto and its successors and permitted assigns, and each other Indemnitee, but
neither this Agreement nor any right, interest or obligation hereunder shall be
assigned, whether by operation of law or otherwise, by Holding, the Company or
NA Acquisition without the prior written consent of CD&R and the CD&R Fund. This
Agreement is not intended to confer any right or remedy hereunder upon any
person other than each of the parties hereto and their respective successors and
permitted assigns and each other Indemnitee. No amendment, modification,
supplement or discharge of this Agreement, and no waiver hereunder shall be
valid and binding unless set forth in writing and duly executed by the party or
other Indemnitee against whom enforcement of the amendment, modification,
supplement or discharge is sought. Neither the waiver by any of the parties
hereto or any other Indemnitee of a breach of or a default under any of the
provisions of this Agreement, nor the failure by any party hereto or any other
Indemnitee on one or more occasions, to enforce any of the provisions of this
Agreement or to exercise any right, powers or privilege hereunder, shall be
construed as a waiver of any other breach or default of a similar nature, or as
a waiver of any provisions hereof, or any rights, powers or privileges
hereunder. The rights and remedies herein provided are cumulative and are not
exclusive of any rights or remedies that any party or other Indemnitee may
otherwise have at law or in equity or otherwise. This Agreement may be executed
in several counterparts, each of which shall be deemed an original, and all of
which together shall constitute one and the same instrument.

                                       12
<PAGE>

      IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement
by their authorized representatives as of the date first above written.

                                NA HOLDING CORPORATION

                                By: /s/Kevin J. Conway
                                    ----------------------------------------
                                    Name: Kevin J. Conway
                                    Title: Vice President

                                NA ACQUISITION CORPORATION

                                By: /s/Kevin J. Conway
                                    ----------------------------------------
                                    Name: Kevin J. Conway
                                    Title: Vice President

                                NORTH AMERICAN VAN LINES, INC.

                                By: /s/R. Barry Uber
                                    --------------------------------------------
                                    Name: R. Barry Uber
                                    Title: President and Chief Executive Officer

                                CLAYTON, DUBILIER & RICE, INC.

                                By: /s/Joseph L. Rice, III
                                    --------------------------------------------
                                    Name: Joseph L. Rice, III
                                    Title: Chairman and Chief Executive Officer

                                       13
<PAGE>

                                CLAYTON, DUBILIER & RICE
                                  FUND V LIMITED PARTNERSHIP

                                By: CD&R Associates V Limited Partnership, its
                                      general partner

                                By: CD&R Investment Associates II, Inc., its
                                      managing general partner

                                By: /s/Joseph L. Rice, III
                                    --------------------------------------------
                                    Name: Joseph L. Rice, III
                                    Title: Chairman and Chief Executive

                                       14

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