Document:

EX-4.5

 EXHIBIT 4.5 
 FOURTH AMENDMENT TO THE 
 RIGHTS AGREEMENT 

July 12, 2013 
 THIS FOURTH AMENDMENT TO THE RIGHTS AGREEMENT (this “Amendment”) is made and entered into as of the 12th day of July, 2013, by and between FROZEN FOOD EXPRESS INDUSTRIES, INC., a Texas corporation (the
“Company”), and REGISTRAR AND TRANSFER COMPANY, a New Jersey corporation, as Rights Agent (the “Rights Agent”). Capitalized terms used, but not defined, herein shall have the meaning ascribed to such terms in that certain
Rights Agreement, dated as of June 14, 2000, by and between the Company and Fleet National Bank, as rights agent, as amended (the “Rights Agreement”). 
 RECITALS: 
 WHEREAS, the Company and Fleet National Bank, as
rights agent, entered into the Rights Agreement; 
 WHEREAS, the Company has replaced Fleet National Bank as rights agent
under the Rights Agreement with Registrar and Transfer Company; 
 WHEREAS, pursuant to Section 27 of the Rights
Agreement, prior to the Separation Date (as that term is defined in the Rights Agreement), and subject to the penultimate sentence of that Section 27, the Company may, and the Rights Agent shall, if the Company so directs, amend the Rights
Agreement; 
 WHEREAS, the Company proposes to enter into an Agreement and Plan of Merger, to be dated as of
July 12, 2013 (the “Merger Agreement”), with Duff Brothers Capital Corporation, a Texas corporation (“Parent”), and Duff Brothers Subsidiary, Inc., a Texas corporation and a direct, wholly owned subsidiary of Parent
(“Merger Sub”); and 
 WHEREAS, no Person is currently an Acquiring Person, the Rights are currently
redeemable, and the Board of Directors of the Company has determined that it is advisable and in the best interest of the Company and its shareholders to amend the Rights Agreement to enable the Company to enter into the Merger Agreement and
consummate the transactions contemplated thereby without causing Parent or any of its subsidiaries to become an “Acquiring Person” (as defined in the Rights Agreement); 

AGREEMENT 
 NOW, THEREFORE, for and in consideration of the mutual covenants and agreements contained herein and in the Rights Agreement, the parties hereto agree as follows: 

Section 1. Definitions. Capitalized terms used but not defined herein shall have the meaning assigned to such terms in the
Rights Agreement. 
 Section 2. Amendments to Rights Agreement. The Rights Agreement is hereby amended as set forth
in this Section 2. 
 (a) The definition of “Acquiring Person” in Section 1 of the Rights Agreement is
amended to add the following sentence at the end thereof: 
 “Notwithstanding anything in this Agreement to the contrary,
none of Parent, Merger Sub, or any Affiliate or Associate of any of them shall be deemed to be an Acquiring Person, either individually or collectively, solely as a result of any or all of the Merger Events.” 

  
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 (b) The definition of “Expiration Date” in Section 1 of the Rights Agreement
is amended to replace the words “and (iv)” with “, (iv)” and to add at the end thereof the words “and (v) the time immediately prior to the Effective Time (as such term is defined in the Merger Agreement) of the Merger
(as such term is defined in the Merger Agreement) but only if the Effective Time shall occur.” 
 (c) The definition of
“Flip-In Event” in Section 1 of the Rights Agreement is amended to add the following sentence at the end thereof: 

“Notwithstanding anything in this Agreement to the contrary, none of the Merger Events shall be a Flip-In Event or have the effect
specified in Section 11(a)(ii).” 
 (d) The definition of “Flip-Over Event” in Section 1 of the Rights
Agreement is amended to add the following sentence at the end thereof: 
 “Notwithstanding anything in this Agreement to the
contrary, none of the Merger Events shall be a Flip-Over Event or have the effect specified in Section 13.” 
 (e) The
definition of “Separation Date” in Section 1 of the Rights Agreement is amended to add the following sentence at the end thereof: 
 “Notwithstanding anything in this Agreement to the contrary, a Separation Date shall not be deemed to have occurred solely as the result of any or all of the Merger Events.” 

(f) The definition of “Stock Acquisition Date” in Section 1 of the Rights Agreement is amended to add the following
sentence at the end thereof: 
 “Notwithstanding anything in this Agreement to the contrary, a Stock Acquisition Date shall
not be deemed to have occurred solely as the result of any or all of the Merger Events.” 
 (g) The following definitions
shall be added to Section 1 of the Rights Agreement: 
 “Merger Agreement” shall mean the Agreement and Plan of
Merger, dated as of July 12, 2013, by and between Parent, Merger Sub and the Company, as it may be amended or supplemented from time to time. 
 “Merger Events” shall mean (i) the announcement or commencement of the Offer (as such term is defined in the Merger Agreement) (ii) the announcement of the Merger (as such term is
defined in the Merger Agreement), (iii) the execution, delivery and performance of the Merger Agreement and the offer to acquire, acquisition of, or right or obligation to acquire, beneficial ownership of Common Stock as a result of or in
connection with the execution of the Merger Agreement, (iv) the conversion of Common Stock into the right to receive the Merger Consideration (as such term is defined in the Merger Agreement) in accordance with Article III of the Merger
Agreement, (v) the transfer, if any, of Common Stock from Parent to Merger Sub, and (vi) the consummation of the Merger (as such term is defined in the Merger Agreement) and the other Transactions contemplated by the Merger Agreement.

  
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 “Merger Sub” shall mean Duff Brothers Subsidiary, Inc., a Texas corporation and a
direct, wholly owned subsidiary of Parent. 
 “Parent” shall mean Duff Brothers Capital Corporation, a Texas
corporation. 
 (h) Section 30 of the Rights Agreement is amended to add the following sentence at the end thereof:

 “Notwithstanding anything in this Agreement to the contrary, nothing in this Agreement shall be construed to give any
registered holder of a Rights Certificate or any other Person any legal or equitable right, remedy or claim under this Agreement in connection with any or all of the Merger Events.” 

(i) Section 11(a)(ii) of the Rights Agreement is amended to add the following sentence at the end thereof: 

“Notwithstanding the foregoing, no provision for adjustment shall be made pursuant to this Section 11(a)(ii) solely as a result
of the occurrence of any or all of the Merger Events.” 
 (j) Section 13(a) of the Rights Agreement is amended to add
the following sentence at the end thereof: 
 “Notwithstanding the foregoing, no provision for adjustment shall be made
pursuant to this Section 13(a) solely as a result of the occurrence of any or all of the Merger Events.” 
 (k)
Section 7(a) of the Rights Agreement is amended to add the following sentence at the end thereof: 
 “Notwithstanding
anything in this Agreement to the contrary, nothing in this Agreement shall be construed to give any Person any right to exercise the Rights evidenced by any Rights Certificate in connection with any or all of the Merger Events.” 

Section 3. Miscellaneous. 
 (a) The term “Agreement” as used in the Rights Agreement shall be deemed to refer to the Rights Agreement as amended hereby. 

(b) This Amendment shall be effective as of the date first above written, and, except as set forth herein, the Rights Agreement shall
remain in full force and effect and shall be otherwise unaffected hereby. Without limiting the foregoing, the Rights Agent shall not be subject to, nor required to interpret or comply with, or determine if any Person has complied with, the Merger
Agreement, even though reference thereto may be made in this Amendment and the Rights Agreement. 
 (c) This Amendment may be
executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. 

(d) If for any reason the Merger Agreement is terminated and the Offer or Merger is abandoned, then this Amendment shall be of no further
force and effect and the Agreement shall remain exactly the same as it existed immediately prior to execution of this Amendment. 

  
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 (e) This Amendment shall be deemed to be a contract made under the laws of the State of
Texas and for all purposes shall be governed by and construed in accordance with the laws of such State applicable to contracts to be made and performed entirely within such State. 

(f) Except to the extent specifically amended hereby, the provisions of the Rights Agreement shall remain unmodified, and the Rights
Agreement as amended hereby is confirmed as being in full force and effect. 
 (g) The undersigned officer of the Company, as an
appropriate officer of the Company, (i) hereby certifies on behalf of the Company that, pursuant to Section 27 of the Rights Agreement, this Amendment is in compliance with the terms of Section 27 of the Rights Agreement; and
(ii) hereby directs the Rights Agent to execute and deliver this Amendment. 
 (h) If any term of this Amendment is held by
a court of competent jurisdiction or other authority to be invalid, void or unenforceable, the remainder of the terms of this Amendment shall remain in full force and effect and shall in no way be affected, impaired or invalidated. 

[Signature page follows.] 

  
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 IN WITNESS WHEREOF, this Amendment has been duly executed by the undersigned as of
the date first written above. 
  

			
	FROZEN FOOD EXPRESS INDUSTRIES, INC.
		
	By:	 	 /s/ S. Russell Stubbs

	Name:	 	 S. Russell Stubbs

	Title:	 	 President and Chief Executive Officer

	
	REGISTRAR AND TRANSFER COMPANY
		
	By:	 	 /s/ Nicola Giancaspio

	Name:	 	 Nicola Giancaspio

	Title:	 	 Vice President

  
 5EX-10.1

 Exhibit 10.1 
 EXECUTION VERSION 
 FIRST AMENDMENT 

TO THE 

AMENDED AND RESTATED CHANGE IN CONTROL AGREEMENT 
 THIS FIRST AMENDMENT TO THE AMENDED AND RESTATED CHANGE IN CONTROL AGREEMENT (the “Amendment”) is entered into by and between Frozen Food Express Industries, Inc., a Texas corporation
(the “Company”) and S. Russell Stubbs (“Executive”), effective as of July 12, 2013. Capitalized terms not defined in the Amendment shall have the meanings ascribed to such terms in the Agreement. 

RECITALS 

WHEREAS, Executive and the Company have entered into a Change in Control Agreement (as amended through the date hereof, the
“Agreement”); and 
 WHEREAS, Executive and the Company desire to amend the Agreement to revise the definition
of Change in Control under the Agreement; 
 NOW, THEREFORE, in consideration of Executive’s performance, the mutual
covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree, effective as of the date first above written, to amend the Agreement in the following
particulars: 
 1. By adding the following new provision immediately after the last sentence of the definition of “Change in Control”
under Section 1 of the Agreement: 
 “‘Notwithstanding anything to the contrary in this Agreement, (1) a
‘Change in Control’ shall not include any transaction or event or any series of transactions or events, including but not limited to the transactions and events described in the preceding sentence, (a) with Thomas Milton Duff, James
Ernest Duff, or any of their affiliates, including, but not limited to Duff Brothers Capital Corporation (the ‘Duffs’); or (b) during any period of time in which one or more of the Duffs is the ‘beneficial owner’ (as
determined pursuant to Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing fifteen percent (15%) or more of the combined voting power of the Company’s then outstanding voting securities (a
‘Duff Interest’); and (2) the parties to this Agreement acknowledge and agree that this Agreement shall terminate in all events on the date that is six (6) months from the date that any of the Duffs first obtains a Duff Interest
(the ‘Termination Date’), and Executive shall not be entitled to any payment or benefits under this Agreement on or after such Termination Date.” 
 2. Except as modified herein the Agreement shall remain in full force and effect. 

 EXECUTION VERSION 
  

 This Amendment may be executed in counterparts, each of which shall be deemed an original for all
purposes, and together shall constitute one and the same Amendment. 
 [Signature Page Follows] 

 EXECUTION VERSION 
  

 IN WITNESS WHEREOF, the parties hereto have executed this Amendment on this
12th day of July, 2013, to be effective as of the date
first above written. 
  

			
	COMPANY
	
	FROZEN FOOD EXPRESS INDUSTRIES, INC.
		
	By:	 	 /s/ John Hickerson

		
	Its:	 	Executive Vice President and COO
	
	 John Hickerson

	
	RELATED CORPORATIONS
	
	FFE TRANSPORTATION SERVICES, INC.
		
	By:	 	 /s/ John Hickerson

		
	Its:	 	Executive Vice President and COO
	
	 John Hickerson

 

			
	EXECUTIVE
		
	NAME:	 	 /s/ S. Russell Stubbs

	
	 S. Russell Stubbs

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