Document:

Exhibit 10.2

Exhibit 10.2

Execution Version

REGISTRATION RIGHTS AGREEMENT

Dated as of December 21, 2010

Among

SWIFT SERVICES HOLDINGS, INC.

and

The Other Several GUARANTORS Named Herein

and

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED

and

MORGAN STANLEY & CO. INCORPORATED

and 

WELLS FARGO SECURITIES, LLC

and

The Other Several INITIAL PURCHASERS Named Herein

10.000% Senior Second Priority Secured Notes due 2018

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	 
	Definitions
	 	 	1	 
	Exchange Offer
	 	 	4	 
	Shelf Registration
	 	 	7	 
	Additional Interest
	 	 	9	 
	Registration Procedures
	 	 	10	 
	Registration Expenses
	 	 	17	 
	Indemnification and Contribution
	 	 	18	 
	Rule 144A
	 	 	22	 
	Underwritten Registrations
	 	 	22	 
	Miscellaneous
	 	 	23	 

 

i

 

REGISTRATION RIGHTS AGREEMENT

This Registration Rights Agreement (this “Agreement”) is dated as of December 21,
2010, among Swift Services Holdings, Inc. (the “Company”), a Delaware corporation, and the
guarantors named in Schedule A hereto (the “Initial Guarantors”), on the one hand, and
Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. Incorporated and Wells
Fargo Securities, LLC and the other several Initial Purchasers named in Schedule B hereto
(collectively, the “Initial Purchasers”), on the other hand.

This Agreement is entered into in connection with the Purchase Agreement, dated as of December
15, 2010, among the Company, the Initial Guarantors and the Initial Purchasers (the “Purchase
Agreement”), which provides for, among other things, the sale by the Company to the Initial
Purchasers of 500.0 million aggregate principal amount of the Company’s 10.000% Senior Second
Priority Secured Notes Due 2018 (the “Notes”), which will be guaranteed on a senior second
priority basis by each of the Guarantors. The Notes are issued under an indenture, dated as of
December 21, 2010 (as amended or supplemented from time to time, the “Indenture”), between
the Company, the Guarantors and U.S. Bank National Association, as trustee (the “Trustee”).
In order to induce the Initial Purchasers to enter into the Purchase Agreement, the Company and the
Guarantors have agreed to provide the registration rights set forth in this Agreement for the
benefit of the Initial Purchasers and, except as otherwise set forth herein, any subsequent holder
or holders of the Notes. The execution and delivery of this Agreement is a condition to the Initial
Purchasers’ obligation to purchase the Notes under the Purchase Agreement. The Notes will have the
terms and provisions described in the Indenture.

The parties hereby agree as follows:

1. Definitions.

As used in this Agreement, the following terms shall have the following meanings:

Additional Guarantor: Any subsidiary of Parent that executes a Guarantee under the
Indenture after the date of this Agreement.

Additional Interest: See Section 4(a)
hereof.

Advice: See the last paragraph of
Section 5 hereof.

Agreement: See the
introductory paragraphs hereto.

Applicable
Period: See Section 2(b) hereof.

Business Day: Shall have the meaning ascribed to such term in Rule 14d-1 under the
Exchange Act.

Company: See the introductory paragraphs
hereto.

Effectiveness Deadline: See
Section 4(a) hereof.

 

 

 

Effectiveness Period: See Section 3(b) hereof.

Exchange Act: The Securities Exchange Act of 1934, as amended, and the rules and
regulations of the SEC promulgated thereunder.

Exchange Notes: See Section 2(a) hereof.

Exchange Offer: See Section 2(a) hereof.

Exchange Offer Registration Statement: See Section 2(a) hereof.

FINRA: See Section 5(r) hereof.

Guarantees: The guarantees of the Notes and the guarantees of the Exchange Notes by
the Guarantors under the Indenture.

Guarantor: The Initial Guarantors, any Additional Guarantors and any
Guarantor’s successor that Guarantees the Notes. Any Guarantor released from its obligations
pursuant to Section 11.05 of the Indenture shall simultaneously be released from obligations
hereunder, and shall not thereafter be a Guarantor under this Agreement.

Holder: Any holder of a Registrable Security or Registrable Securities.

Indenture: See the introductory paragraphs hereto.

Information: See Section 5(n) hereof.

Initial Guarantors: See the introductory paragraphs and Schedule A hereto.

Initial Purchasers: See the introductory paragraphs and Schedule B hereto.

Initial Shelf Registration: See Section 3(a) hereof.

Inspectors: See Section 5(n) hereof.

Issue Date: December 21, 2010, the date of original issuance of the Notes.

Notes: See the introductory paragraphs hereto.

Parent: Shall mean Swift Transportation Company, a Delaware corporation.

Participant: See Section 7(a) hereof.

Participating Broker-Dealer: See Section 2(b) hereof.

Person: An individual, trustee, corporation, partnership, limited liability company,
joint stock company, trust, unincorporated association, union, business association, firm or other
legal entity.

 

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Prospectus: The prospectus included in any Registration Statement (including,
without limitation, any prospectus subject to completion and a prospectus that includes any
information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rules 430A or 430C under the Securities Act), as amended or
supplemented by any prospectus supplement, and all other amendments and supplements to the
Prospectus, including post-effective amendments, and all material incorporated by reference or
deemed to be incorporated by reference in such Prospectus.

Purchase Agreement: See the introductory paragraphs
hereof.

Records: See Section 5(n) hereof.

Registrable Securities: Each Note upon its original issuance and at all times
subsequent thereto and each Exchange Note as to which Section 2(c)(ii) hereof is applicable
upon original issuance and at all times subsequent thereto and, in each case, any related
guarantees, until, in each case, the earliest to occur of (i) a Registration Statement covering
such Note or Exchange Note (and any related guarantees) has been declared effective by the SEC and
such Note or Exchange Note (and any related guarantees), as the case may be, has been sold and
disposed of in accordance with such effective Registration Statement, (ii) such Note has been
exchanged pursuant to the Exchange Offer for an Exchange Note or Exchange Notes that may be resold
without restriction under state and federal securities laws, (iii) such Note or Exchange Note (and
any related guarantees), as the case may be, ceases to be outstanding for purposes of the Indenture
or (iv) such Note is eligible to be sold pursuant to Rule 144 by a Person that is not an
“affiliate” (as defined in Rule 405) of the Company or any of the Guarantors.

Registration Default: See Section 4(a) hereof.

Registration Statement: Any registration statement of the Company and the Guarantors
that covers any of the Notes or the Exchange Notes (and any related guarantees) filed with the SEC
under the Securities Act, including, in each case, the Prospectus, amendments and supplements to
such registration statement, including post-effective amendments, all exhibits, and all material
incorporated by reference or deemed to be incorporated by reference in such registration statement.

Rule 144: Rule 144 under the Securities Act.

Rule 144A: Rule 144A under the Securities Act.

Rule 405: Rule 405 under the Securities Act.

Rule 415: Rule 415 under the Securities Act.

Rule 424: Rule 424 under the Securities Act.

SEC: The U.S. Securities and Exchange
Commission.

Securities Act: The Securities Act of 1933, as amended, and the rules and
regulations of the SEC promulgated thereunder.

 

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Shelf Notice: See Section 2(c)
hereof.

Shelf Registration: See
Section 3(b) hereof.

Shelf Registration Statement: Any Registration Statement relating to a Shelf
Registration.

Shelf Suspension Period: See Section 3(a)
hereof.

Subsequent Shelf Registration: See
Section 3(b) hereof.

TIA: The Trust
Indenture Act of 1939, as amended.

Trustee: The trustee under the Indenture and the trustee under any indenture (if
different) governing the Exchange Notes (and any related guarantees).

Underwritten registration or underwritten offering: A registration in which securities
of the Company and the Guarantors are sold to an underwriter for reoffering to the public.

Except as otherwise specifically provided, all references in this Agreement to acts, laws,
statutes, rules, regulations, releases, forms, no-action letters and other regulatory requirements
(collectively, “Regulatory Requirements”) shall be deemed to refer also to any amendments
thereto and all subsequent Regulatory Requirements adopted as a replacement thereto having
substantially the same effect therewith; provided that Rule 144 shall not be deemed to amend or
replace Rule 144A.

2. Exchange Offer.

(a) Unless the Exchange Offer would violate applicable law or any applicable
interpretation of the staff of the SEC, the Company and the Guarantors shall use their reasonable
best efforts to file with the SEC a registration statement (the “Exchange Offer Registration
Statement”) on an appropriate registration form with respect to a registered offer (the
“Exchange Offer”) to exchange any and all of the Registrable Securities for a like
aggregate principal amount of debt securities of the Company (the “Exchange Notes”),
guaranteed by the Guarantors under the Indenture, with terms substantially identical in all
material respects to the Notes, as applicable, except that (i) the Exchange Notes shall contain no
restrictive legend thereon, and (ii) interest on the Exchange Notes shall accrue in accordance with
the paragraph set forth immediately below. The Exchange Offer shall comply with all applicable
tender offer rules and regulations under the Exchange Act and other applicable laws. The Company
and the Guarantors shall use their reasonable best efforts to cause the Exchange Offer Registration
Statement to be declared effective under the Securities Act.

 

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Upon the Exchange Offer Registration Statement becoming effective, the Company and the
Guarantors will offer the Exchange Notes in exchange for surrender of the Notes. The Company and
the Guarantors will keep the Exchange Offer open for at least 20 Business Days (or longer if
required by applicable law) after the date that notice of the Exchange Offer is mailed to Holders.
For each Note surrendered to the Company and the Guarantors
pursuant to the Exchange Offer, the Holder who surrendered such Note shall receive an Exchange Note
having a principal amount equal to that of the surrendered Note. Interest on each Exchange Note
will accrue (y) from the later of (i) the last interest payment date on which interest was paid on
the Note surrendered in exchange therefor or (ii) if the Note is surrendered for exchange between
the record date for an interest payment date to occur on or after the date of such exchange and as
to which interest will be paid and such interest payment date, the date of such interest payment
date or (z) if no interest has been paid on such Note, from the Issue Date.

Each Holder (including, without limitation, each Participating Broker-Dealer) that
participates in the Exchange Offer, as a condition to participation in the Exchange Offer, will be
required to represent to the Company in writing (which may be contained in the applicable letter of
transmittal) that: (i) any Exchange Notes acquired in exchange for Registrable Securities tendered
are being acquired in the ordinary course of business of the Person receiving such Exchange Notes,
whether or not such recipient is such Holder itself; (ii) at the time of the commencement or
consummation of the Exchange Offer neither such Holder nor, to the actual knowledge of such Holder,
any other Person receiving Exchange Notes from such Holder has an arrangement or understanding with
any Person to participate in the distribution (within the meaning of the Securities Act) of the
Exchange Notes in violation of the provisions of the Securities Act; (iii) neither the Holder nor,
to the actual knowledge of such Holder, any other Person receiving Exchange Notes from such Holder
is an “affiliate” (as defined in Rule 405) of the Company or any of the Guarantors; (iv) if such
Holder is not a broker-dealer, neither such Holder nor, to the actual knowledge of such Holder, any
other Person receiving Exchange Notes from such Holder is engaging in or intends to engage in a
distribution of the Exchange Notes; and (v) if such Holder is a Participating Broker-Dealer that
will receive Exchange Notes for its own account in exchange for Registrable Securities that were
acquired as a result of market-making or other trading activities, such Holder will deliver a
prospectus with any resale of such Exchange Notes; provided that the Company and the Guarantors
shall make available, during the period required by the Securities Act, a prospectus meeting the
requirements of the Securities Act for use by Participating Broker-Dealers and other persons, if
any, with similar prospectus delivery requirements for use in connection with any resale of
Exchange Notes.

No securities other than the Exchange Notes and the Notes (and any related guarantees)
shall be included in the Exchange Offer Registration Statement.

(b) The Company and the Guarantors shall include within the Prospectus contained in the
Exchange Offer Registration Statement a section entitled “Plan of Distribution,” which
shall indicate that any broker-dealer who holds Registrable Securities that were acquired for its
own account as a result of market-making activities or other trading activities (other than
Registrable Securities acquired directly from the Company or any of the Guarantors) (a
“Participating Broker-Dealer”) may exchange such Registrable Securities pursuant to the
Exchange Offer; however, such Participating Broker-Dealer may be deemed to be an “underwriter”
within the meaning of the Securities Act and must, therefore, deliver a prospectus meeting the
requirements of the Securities Act in connection with any resales of the Exchange Notes received by
such broker-dealer in the Exchange Offer, which prospectus delivery requirements may be satisfied
by the delivery by such broker-dealer of the Prospectus contained in the Exchange Offer
Registration Statement. Such “Plan of Distribution” section shall also
contain all other information with respect to resales by Participating Broker-Dealers that the SEC
may require in order to permit such resales pursuant thereto.

 

5

 

The Company and the Guarantors shall use their reasonable best efforts to keep the Exchange
Offer Registration Statement effective and to amend and supplement the Prospectus contained therein
to the extent necessary in order to permit such Prospectus to be lawfully delivered by all Persons
subject to the prospectus delivery requirements of the Securities Act for resales of Exchange Notes
for such period of time as is necessary to comply with applicable law in connection with any resale
of Exchange Notes; provided, however, that such period shall not be required to exceed 90
days or such longer period if extended pursuant to the last paragraph of Section 5 hereof (the
“Applicable Period”).

In connection with the Exchange Offer, the Company and the Guarantors shall, subject to
applicable law:

(1) mail, or cause to be mailed, to each Holder of record entitled to participate in
the Exchange Offer a copy of the Prospectus forming part of the Exchange Offer Registration
Statement, together with an appropriate letter of transmittal and related documents;

(2) use their reasonable best efforts to keep the Exchange Offer open for not less than
20 Business Days from the date that notice of the Exchange Offer is mailed to Holders (or
longer if required by applicable law);

(3) utilize the services of a depositary for the Exchange Offer with an address in the
Borough of Manhattan, The City of New York or in Wilmington, Delaware;

(4) permit Holders to withdraw tendered Notes at any time prior to the close of
business, New York time, on the last Business Day on which the Exchange Offer remains open;
and

(5) otherwise comply in all material respects with all laws, rules and regulations applicable to the Exchange Offer.

As soon as practicable after the close of the Exchange Offer, the Company and the Guarantors
shall, subject to applicable law:

(1) accept for exchange all Registrable Securities validly tendered and not validly
withdrawn pursuant to the Exchange Offer;

(2) deliver to the Trustee for cancellation all Registrable Securities so accepted
for exchange; and

(3) cause the Trustee to authenticate and deliver promptly to each Holder of Notes,
Exchange Notes equal in principal amount to the Notes of such Holder so tendered for
exchange; provided that, in the case of any Notes held in global form by a
depositary, authentication and delivery to such depositary of one or more replacement Notes
in
global form in an equivalent principal amount thereto for the account of such Holders in
accordance with the Indenture shall satisfy such authentication and delivery requirement.

 

6

 

The Exchange Offer shall not be subject to any conditions, other than that (i) the Exchange
Offer does not violate applicable law or any applicable interpretation of the staff of the SEC;
(ii) no action or proceeding shall have been instituted or threatened in any court or by any
governmental agency that would be reasonably likely to materially impair the ability of the Company
or any of the Guarantors to proceed with the Exchange Offer, and no material adverse development
shall have occurred in any existing action or proceeding with respect to the Company or any of the
Guarantors; and (iii) all governmental approvals shall have been obtained, which approvals the
Company and the Guarantors deem necessary for the consummation of the Exchange Offer.

The Exchange Notes shall be issued under (i) the Indenture or (ii) an indenture identical in
all material respects to the Indenture and which, in either case, has been qualified under the TIA
or is exempt from such qualification and shall provide that the Exchange Notes shall not be subject
to the transfer restrictions set forth in the Indenture. The Indenture or such indenture shall
provide that the Exchange Notes and the Notes shall vote and consent together on all matters as one
class and that none of the Exchange Notes or the Notes will have the right to vote or consent as a
separate class on any matter.

(c) If, (i) because of any change in applicable law or in currently prevailing
interpretations of the staff of the SEC, the Company or any of the Guarantors is not permitted to
effect the Exchange Offer or (ii) upon receipt of a written notification from any Holder prior to
the 20th Business Day following the consummation of the Exchange Offer representing that (A) it is
prohibited by law or SEC policy from participating in the Exchange Offer, (B) it may not resell the
Exchange Notes acquired by it in the Exchange Offer to the public without delivering a prospectus
and the Prospectus contained in the Exchange Offer Registration Statement is not appropriate or
available for such resales, (C) it is a Participating Broker-Dealer, or (D) it is an affiliate of
the Company and will not receive Exchange Notes in the Exchange Offer that may be freely
transferred without restriction under federal securities laws, in the case of each of clauses (i)
and (ii) of this sentence, then the Company and the Guarantors shall promptly deliver to the
Trustee (to deliver to the Holders) written notice thereof (the “Shelf Notice”) and shall
file a Shelf Registration pursuant to Section 3 hereof.

3. Shelf Registration.

If at any time a Shelf Notice is delivered as contemplated by Section 2(c)
hereof,
then:

(a) Shelf Registration. The Company and the Guarantors shall use their
reasonable best efforts to promptly file with the SEC a Registration Statement for an
offering to be made on a continuous basis pursuant to Rule 415 covering all of the
Registrable Securities (the “Initial Shelf Registration”). The Initial Shelf
Registration shall be on Form S-1 or another appropriate form permitting registration of
such Registrable Securities for resale by Holders in the manner or manners designated by
them (including, without limitation, one or more underwritten offerings). The Company and
the Guarantors shall not permit any securities other than the Registrable Securities to be included
in the Initial Shelf Registration or any Subsequent Shelf Registration (as defined below).

 

7

 

The Company and the Guarantors shall use their reasonable best efforts to cause the Shelf
Registration to be declared effective under the Securities Act and to keep the Initial Shelf
Registration continuously effective under the Securities Act until the earliest of (i) the date
that is one (1) year from the Issue Date and (ii) such shorter period ending when all Registrable
Securities covered by the Shelf Registration Statement have been sold in the manner set forth and
as contemplated in the Initial Shelf Registration or, if applicable, a Subsequent Shelf
Registration.

Notwithstanding anything to the contrary in this Agreement, at any time, the Company and the
Guarantors may delay the filing of any Initial Shelf Registration Statement or Subsequent Shelf
Registration or delay or suspend the effectiveness thereof, for a reasonable period of time, but
not in excess of 45 consecutive days or more than three (3) times during any calendar year (each, a
“Shelf Suspension Period”), if the Board of Directors of the Company or Parent determines
reasonably and in good faith that the filing of any such Initial Shelf Registration Statement or
Subsequent Shelf Registration the continuing effectiveness thereof would require the disclosure of
non-public material information that, in the reasonable judgment of the Board of Directors of the
Company, would be detrimental to the Company or any of the Guarantors if so disclosed or would
otherwise materially adversely affect a financing, acquisition, disposition, merger or other
material transaction or such action is required by applicable law.

(b) Withdrawal of Stop Orders; Subsequent Shelf Registrations. If the Initial Shelf
Registration or any Subsequent Shelf Registration ceases to be effective for any reason at any time
during the one year after such registration statement becomes effective (the “Effectiveness
Period”) (other than because of the sale of all of the Notes registered thereunder), the
Company and the Guarantors shall use their reasonable best efforts to obtain the prompt withdrawal
of any order suspending the effectiveness thereof, and in any event shall file an additional Shelf
Registration Statement pursuant to Rule 415 covering all of the Registrable Securities covered by
and not sold under the Initial Shelf Registration or an earlier Subsequent Shelf Registration
(each, a “Subsequent Shelf Registration”). If a Subsequent Shelf Registration is filed, the
Company and the Guarantors shall use their reasonable best efforts to cause the Subsequent Shelf
Registration to be declared effective under the Securities Act as soon as practicable after such
filing and to keep such subsequent Shelf Registration continuously effective for a period equal to
the number of days in the Effectiveness Period less the aggregate number of days during which the
Initial Shelf Registration or any Subsequent Shelf Registration was previously continuously
effective. As used herein the term “Shelf Registration” means the Initial Shelf Registration and
any Subsequent Shelf Registration.

(c) Supplements and Amendments. The Company and the Guarantors shall promptly
supplement and amend the Shelf Registration if required by the rules, regulations or instructions
applicable to the registration form used for such Shelf Registration, if required by the Securities
Act, or if reasonably requested by the Holders
of a majority in aggregate principal amount of the Registrable Securities (or their counsel)
covered by such Registration Statement with respect to the information included therein with
respect to one or more of such Holders, or, if reasonably requested by any underwriter of
such Registrable Securities, with respect to the information included therein with respect
to such underwriter.

 

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4. Additional Interest.

(a) The Company and the Guarantors and the Initial Purchasers agree that the Holders will
suffer damages if the Company or any Guarantor fails to fulfill its obligations under Section 2 or
Section 3 hereof and that it would not be feasible to ascertain the extent of such damages
with precision. Accordingly, the Company and the Guarantors agree to pay additional interest on the
Notes (“Additional Interest”) if (A) the Company and the Guarantors have not exchanged
Exchange Notes for all Notes validly tendered in accordance with the terms of the Exchange Offer on
or prior to the 180th day after the Issue Date, (B) the Company and the Guarantors are required to
file a Shelf Registration Statement and such Shelf Registration Statement is not declared effective
on or prior to the later of the 180th day after the Issue Date and the 30th day after the
obligation to file such Shelf Registration Statement arises (the “Effectiveness Deadline”)
or (C) such Shelf Registration ceases to be effective at any time during the Effectiveness Period
(other than because of the sale of all of the Notes registered thereunder) (each a
“Registration Default”), then Additional Interest shall accrue on the principal amount of
the Notes at a rate of 0.25% per annum (which rate will be increased by an additional 0.25% per
annum for each subsequent 90 day period that such Additional Interest continues to accrue,
provided that the rate at which such Additional Interest accrues may in no event exceed
1.00% per annum) (such Additional Interest to be calculated by the Company) commencing on the (x)
181st day after the Issue Date, in the case of clause (A) above, (y) the day after the
Effectiveness Deadline in the case of clause (B) above or (z) the day such Shelf Registration
ceases to be effective in the case of clause (C) above; provided, however, that upon the
exchange of the Exchange Notes for all Notes tendered (in the case of clause (A) of this
Section 4), upon the effectiveness of the applicable Shelf Registration Statement (in the
case of (B) of this Section 4), or upon the effectiveness of the applicable Shelf
Registration Statement which had ceased to remain effective (in the case of clause (C) of this
Section 4), Additional Interest on the Notes as a result of such clause (or the relevant
subclause thereof), as the case may be, shall cease to accrue. Notwithstanding any other provisions
of this Section 4, (i) Additional Interest shall not accrue and the Company and the
Guarantors shall not be obligated to pay any Additional Interest provided for in Section
4(a)(B) during a Shelf Suspension Period permitted by Section 3(a) hereof;
provided, that no Additional Interest shall accrue on the Notes following the second
anniversary of the Issue Date and (ii) the Additional Interest described in this Section 4
is the sole and exclusive remedy available to Holders due a Registration Default. Additional
Interest shall be payable in the same form elected by the Company for the payment of interest for
the applicable interest payment period, on the same dates and to the same persons that the Company
makes other interest payments on the Notes, until the Registration Default is corrected.

(b) The Company and the Guarantors shall notify the Trustee within five business days after
each and every date on which a Registration Default occurs. The amount of Additional Interest will
be determined by the Company by multiplying the applicable Additional Interest rate by the
principal amount of the Registrable Securities, multiplied by a fraction, the
numerator of which is the number of days such Additional Interest rate was applicable during such
period (determined on the basis of a 365 day year comprised of twelve 30 day months and, in the
case of a partial month, the actual number of days elapsed), and the denominator of which is 365.

 

9

 

5. Registration Procedures.

In connection with the filing of any Registration Statement pursuant to Section 2 or 3
hereof, the Company and the Guarantors shall effect such registrations to permit the sale of the
securities covered thereby in accordance with the intended method or methods of disposition
thereof, and pursuant thereto and in connection with any Registration Statement filed by the
Company and the Guarantors hereunder the Company and the Guarantors shall:

(a) Before filing (i) any Shelf Registration Statement or any amendment or supplement
thereto or (ii) any Registration Statement, Prospectus or amendment or supplement thereto
required to be delivered under the Securities Act by any Participating Broker-Dealer who
seeks to sell Exchange Notes during the Applicable Period relating thereto from whom the
Company or the Guarantors have received prior written notice that it will be a Participating
Broker-Dealer in the Exchange Offer, the Company and the Guarantors shall furnish to and
afford counsel for the Holders of the Registrable Securities covered by such Registration
Statement (with respect to a Registration Statement filed pursuant to Section 3
hereof) or counsel for such Participating Broker-Dealer (with respect to any such
Registration Statement), as the case may be, and counsel to the managing underwriters, if
any, a reasonable opportunity to review copies of all such documents (including copies of
any documents to be incorporated by reference therein and all exhibits thereto) proposed to
be filed (in each case at least three business days prior to such filing). The Company and
the Guarantors shall not file any Registration Statement or Prospectus or any amendments or
supplements thereto if the Holders of a majority in aggregate principal amount of the
Registrable Securities covered by such Registration Statement, their counsel, or the
managing underwriters, if any, shall reasonably object.

(b) Prepare and file with the SEC such amendments and post-effective amendments to each
Shelf Registration Statement or Exchange Offer Registration Statement, as the case may be,
as may be necessary to keep such Registration Statement continuously effective for the
Effectiveness Period, the Applicable Period or until consummation of the Exchange Offer, as
the case may be; cause the related Prospectus to be supplemented by any Prospectus
supplement required by applicable law, and as so supplemented to be filed pursuant to Rule
424 to the extent required by applicable law; and comply with the provisions of the
Securities Act and the Exchange Act applicable to it with respect to the disposition of all
securities covered by such Registration Statement as so amended or in such Prospectus as so
supplemented and with respect to the subsequent resale of any securities being sold by an
Participating Broker-Dealer covered by any such Prospectus in all material respects.

 

10

 

(c) If (1) a Shelf Registration is filed pursuant to Section 3 hereof or (2) a
Prospectus contained in the Exchange Offer Registration Statement filed pursuant to
Section 2 hereof is required to be delivered under the Securities Act by any Participating
Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period relating thereto from
whom the Company or the Guarantors have received written notice that it will be a Participating
Broker-Dealer in the Exchange Offer, notify the selling Holders of Registrable Securities (with
respect to a Registration Statement filed pursuant to Section 3 hereof), or each such
Participating Broker-Dealer (with respect to any such Registration Statement), as the case may be,
their counsel and the managing underwriters, if any, promptly (but in any event within three
Business Days), and confirm such notice in writing, (i) when a Prospectus or any Prospectus
supplement or post-effective amendment has been filed, and, with respect to a Registration
Statement or any post-effective amendment, when the same has become effective under the Securities
Act, (ii) of the issuance by the SEC of any stop order suspending the effectiveness of a
Registration Statement or of any order preventing or suspending the use of any preliminary
prospectus or the initiation of any proceedings for that purpose, (iii) if at any time when a
prospectus is required by the Securities Act to be delivered in connection with sales of the
Registrable Securities or resales of Exchange Notes by Participating Broker-Dealers the
representations and warranties of the Company or any Guarantors contained in any agreement
(including any underwriting agreement) contemplated by Section 5(m) hereof cease to be true
and correct, (iv) of the receipt by the Company or any Guarantor of any notification with respect
to the suspension of the qualification or exemption from qualification of a Registration Statement
or any of the Registrable Securities or the Exchange Notes to be sold by any Participating
Broker-Dealer for offer or sale in any jurisdiction, or the initiation or threatening of any
proceeding for such purpose, and (v) of the happening of any event, the existence of any condition
or any information becoming known to the Company or any Guarantor that makes any statement made in
such Registration Statement or related Prospectus or any document incorporated or deemed to be
incorporated therein by reference untrue in any material respect or that requires the making of any
changes in or amendments or supplements to such Registration Statement, Prospectus or documents so
that, in the case of the Registration Statement, it will not contain any untrue statement of a
material fact or omit to state any material fact required to be stated therein or necessary to make
the statements therein, in the light of the circumstances under which they were made, not
misleading, and that in the case of the Prospectus, it will not contain any untrue statement of a
material fact or omit to state any material fact required to be stated therein or necessary to make
the statements therein, in the light of the circumstances under which they were made, not
misleading.

(d) Use their reasonable best efforts to prevent the issuance of any order suspending the
effectiveness of a Registration Statement or of any order preventing or suspending the use of a
Prospectus or suspending the qualification (or exemption from qualification) of any of the
Registrable Securities or the Exchange Notes to be sold by any Participating Broker-Dealer, for
sale in any jurisdiction.

(e) If a Shelf Registration is filed pursuant to Section 3 and if requested during
the Effectiveness Period by the managing underwriter or underwriters (if any) or the Holders of a
majority in aggregate principal amount of the Registrable Securities being sold in connection with
an underwritten offering, (i) as promptly as reasonably practicable incorporate in a prospectus
supplement or post-effective amendment such
information as the managing underwriter or underwriters (if any), such Holders or counsel for
either of them reasonably request to be included therein and (ii) make all required filings
of such prospectus supplement or such post-effective amendment.

 

11

 

(f) If (1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a
Prospectus contained in the Exchange Offer Registration Statement filed pursuant to
Section 2 hereof is required to be delivered under the Securities Act by any Participating
Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, furnish to each
selling Holder of Registrable Securities (with respect to a Registration Statement filed pursuant
to Section 3 hereof) and to each such Participating Broker-Dealer who so requests (with
respect to any such Registration Statement) and to their respective counsel and each managing
underwriter, if any, at the sole expense of the Company and the Guarantors, one conformed copy of
the Registration Statement or Registration Statements and each post-effective amendment thereto,
including financial statements and schedules, and, if requested (unless filed on Edgar), all
documents incorporated or deemed to be incorporated therein by reference and all exhibits.

(g) If (1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a
Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section
2 hereof is required to be delivered under the Securities Act by any Participating
Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, deliver to each
selling Holder of Registrable Securities (with respect to a Registration Statement filed pursuant
to Section 3 hereof), or each such Participating Broker-Dealer (with respect to any such
Registration Statement), as the case may be, their respective counsel, and the underwriters, if
any, at the sole expense of the Company and the Guarantors, as many copies of the Prospectus or
Prospectuses (including each form of preliminary prospectus) and each amendment or supplement
thereto and (unless filed on Edgar) any documents incorporated by reference therein as such Persons
may reasonably request; and, subject to the last paragraph of this Section 5, the Company
and the Guarantors hereby consent to the use of such Prospectus and each amendment or supplement
thereto by each of the selling Holders of Registrable Securities or each such Participating
Broker-Dealer, as the case may be, and the underwriters or agents, if any, and dealers, if any, in
connection with the offering and sale of the Registrable Securities covered by, or the sale by
Participating Broker-Dealers of the Exchange Notes pursuant to, such Prospectus and any amendment
or supplement thereto.

(h) Prior to any public offering of Registrable Securities or any delivery of a
Prospectus contained in the Exchange Offer Registration Statement by any Participating
Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, use their reasonable
best efforts to register or qualify, and to cooperate with the selling Holders of Registrable
Securities or each such Participating Broker-Dealer, as the case may be, the managing underwriter
or underwriters, if any, and their respective counsel in connection with the registration or
qualification (or exemption from such registration or qualification) of such Registrable Securities
for offer and sale under the securities or Blue Sky laws of such jurisdictions within the United
States as any selling Holder, Participating Broker-Dealer, or the managing underwriter or
underwriters reasonably request in writing; provided,

 

12

 

however, that where Exchange Notes
held by Participating Broker-Dealers or Registrable Securities are offered other than through an underwritten offering,
the Company and the Guarantors agree to cause their counsel to perform Blue Sky investigations and
file registrations and qualifications required to be filed pursuant to this Section 5(h),
keep each such registration or qualification (or exemption therefrom) effective during the period
such Registration Statement is required to be kept effective and do any and all other acts or
things necessary or advisable to enable the disposition in such jurisdictions of the Exchange Notes
held by Participating Broker-Dealers or the Registrable Securities covered by the applicable
Registration Statement; provided, however, that the Company and Guarantors shall not be
required to (A) qualify generally to do business in any jurisdiction where the Company or any
Guarantor is not then so qualified, (B) take any action that would subject them to general service
of process in any such jurisdiction where it is not then so subject or (C) subject themselves to
taxation in excess of a nominal dollar amount in any such jurisdiction where the Company or any
Guarantor is not then so subject.

(i) If a Shelf Registration is filed pursuant to Section 3 hereof, cooperate
with the selling Holders of Registrable Securities and the managing underwriter or underwriters, if
any, to facilitate the timely preparation and delivery of certificates representing Registrable
Securities to be sold, which certificates shall not bear any restrictive legends and shall be in a
form eligible for deposit with The Depository Trust Company; and enable such Registrable Securities
to be in such denominations (subject to applicable requirements contained in the Indenture) and
registered in such names as the managing underwriter or underwriters, if any, or Holders may
request.

(j) Subject to the proviso in Section 5(h), use their reasonable best efforts
to cause the Registrable Securities covered by the Registration Statement to be registered with or
approved by such other U.S. governmental agencies or authorities as may be necessary to enable the
seller or sellers thereof or the underwriter or underwriters, if any, to consummate the disposition
of such Registrable Securities, except as may be required solely as a consequence of the nature of
such selling Holder’s business, in which case the Company and the Guarantors will cooperate in all
respects with the filing of such Registration Statement and the granting of such approvals.

(k) If (1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a
Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section
2 hereof is required to be delivered under the Securities Act by any Participating
Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, upon the occurrence of
any event contemplated by Section 5(c)(v) hereof, as promptly as practicable prepare and
(subject to Section 5(a) hereof) file with the SEC, at the sole expense of the Company and
the Guarantors, a supplement or post-effective amendment to the Registration Statement or a
supplement to the related Prospectus or any document incorporated therein by reference, or file any
other required document so that, as thereafter delivered to the purchasers of the Registrable
Securities being sold thereunder (with respect to a Registration Statement filed pursuant to
Section 3 hereof) or to the purchasers of the Exchange Notes to whom such Prospectus will
be delivered by a Participating Broker-Dealer (with respect to any such Registration Statement),
any such Prospectus will not contain an untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary to make the statements therein, in the
light of the circumstances under which they were made, not misleading.

 

13

 

(l) Prior to the effective date of the first Registration Statement relating to the
Registrable Securities, (i) provide the Trustee with certificates for the Registrable Securities in
a form eligible for deposit with The Depository Trust Company and (ii) provide a CUSIP number for
the Registrable Securities.

(m) In connection with an underwritten offering of Registrable Securities pursuant to a
Shelf Registration, enter into an underwriting agreement as is customary in underwritten offerings
of debt securities similar to the Notes (including, without limitation, a customary condition to
the obligations of the underwriters that the underwriters shall have received “cold comfort”
letters and updates thereof in form, scope and substance reasonably satisfactory to the managing
underwriter or underwriters from the independent certified public accountants of the Company,
Parent and the other Guarantors (and, if necessary, any other independent certified public
accountants of the Company, Parent or any of the other Guarantors, or of any business acquired by
the Company, Parent or any of the other Guarantors for which financial statements and financial
data are, or are required to be, included or incorporated by reference in the Registration
Statement), addressed to each of the underwriters, such letters to be in customary form and
covering matters of the type customarily covered in “cold comfort” letters in connection with
underwritten offerings of debt securities similar to the Notes), and take all such other actions as
are reasonably requested by the managing underwriter or underwriters in order to expedite or
facilitate the registration or the disposition of such Registrable Securities and, in such
connection, (i) make such representations and warranties to, and covenants with, the underwriters
with respect to the business of the Company and the Guarantors (including any acquired business,
properties or entity, if  applicable), and the Registration Statement, Prospectus and documents,
if any, incorporated or deemed to be incorporated by reference therein, in each case, as are
customarily made by Company and the Guarantors to underwriters in underwritten offerings of debt
securities similar to the Notes, and confirm the same in writing if and when requested; (ii) obtain
the written opinions of counsel to the Company and the Guarantors, and written updates thereof in
form, scope and substance reasonably satisfactory to the managing underwriter or underwriters,
addressed to the underwriters covering the matters customarily covered in opinions reasonably
requested in underwritten offerings; and (iii) if an underwriting agreement is entered into, the
same shall contain indemnification provisions and procedures no less favorable to the sellers and
underwriters, if any, than those set forth in Section 7 hereof (or such other provisions
and procedures reasonably acceptable to Holders of a majority in aggregate principal amount of
Registrable Securities covered by such Registration Statement and the managing underwriter or
underwriters or agents, if any). The above shall be done at closing under such underwriting
agreement or as and to the extent required thereunder.

 

14

 

(n) If (1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a
Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section
2 hereof is required to be delivered under the Securities Act by any Participating
Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, make
available for inspection by any Initial Purchasers, any selling Holder of such Registrable
Securities being sold (with respect to a Registration Statement filed pursuant to Section 3 hereof), or each such Participating Broker-Dealer, as the case may be, any underwriter
participating in any such disposition of Registrable Securities, if any, and any attorney,
accountant or other agent retained by any such selling Holder or each such Participating
Broker-Dealer (with respect to any such Registration Statement), as the case may be, or underwriter
(any such Initial Purchaser, Holders, Participating Broker-Dealers, underwriters, attorneys,
accountants or agents, collectively, the “Inspectors”), upon written request, at the
offices where normally kept, during business hours, all pertinent financial and other records,
pertinent corporate documents and instruments of Parent and subsidiaries of Parent (collectively,
the “Records”), as shall be reasonably necessary to enable them to exercise any applicable
due diligence responsibilities, and cause the officers, directors and employees of Parent and any
of its subsidiaries to supply all information (“Information”) reasonably requested by any
such Inspector in connection with such due diligence responsibilities. Each Inspector shall agree
in writing that it will keep the Records and Information confidential, to use the Information only
for due diligence purposes, to abstain from using the Information as the basis for any market
transactions in securities of Parent, the Company or any of their subsidiaries and that it will not
disclose any of the Records or Information that the Company and the Guarantors determine, in good
faith, to be confidential and notifies the Inspectors in writing are confidential unless (i) the
disclosure of such Records or Information is necessary to avoid or correct a misstatement or
omission in such Registration Statement or Prospectus, (ii) the release of such Records or
Information is ordered pursuant to a subpoena or other order from a court of competent
jurisdiction, (iii) disclosure of such Records or Information is necessary or advisable, in the
opinion of counsel for any Inspector, in connection with any action, claim, suit or proceeding,
directly or indirectly, involving or potentially involving such Inspector and arising out of, based
upon, relating to, or involving this Agreement or the Purchase Agreement, or any transactions
contemplated hereby or thereby or arising hereunder or thereunder, or (iv) the information in such
Records or Information has been made generally available to the public other than by an Inspector
or an “affiliate” (as defined in Rule 405), representative or agent thereof; provided,
however, that prior notice shall be provided as soon as practicable to the Company and the
Guarantors of the potential disclosure of any information by such Inspector pursuant to clauses
(i), (ii) or (iii) of this sentence to permit the Company and the Guarantors to obtain a protective
order (or waive the provisions of this paragraph (o)) and that such Inspector shall take such
actions as are reasonably necessary to protect the confidentiality of such information (if
practicable) to the extent-such action is otherwise not inconsistent with, an impairment of or in
derogation of the rights and interests of the Holder or any Inspector.

(o) Provide an indenture trustee for the Registrable Securities or the Exchange Notes,
as the case may be, and cause the Indenture or the trust indenture provided for in Section
2(a) hereof, as the case may be, to be qualified under the TIA not later than the effective
date of the first Registration Statement relating to the Registrable Securities; and in connection
therewith, cooperate with the trustee under any such indenture and the Holders of the Registrable
Securities, to effect such changes (if any) to such indenture as may be required for such indenture
to be so qualified in accordance with the terms of the
TIA; and execute, and use their commercially reasonable best efforts to cause such trustee
to execute, all documents as may be required to effect such changes, and all other forms and
documents required to be filed with the SEC to enable such indenture to be so qualified in a
timely manner.

 

15

 

(p) Comply in all material respects with all applicable rules and regulations of
the SEC and make generally available to their securityholders with regard to any applicable
Registration Statement, a consolidated earning statement satisfying the provisions of
Section 11(a) of the Securities Act and Rule 158 thereunder (or any similar rule
promulgated under the Securities Act) no later than 45 days after the end of any fiscal
quarter (or 90 days after the end of any 12-month period if such period is a fiscal year)
(i) commencing at the end of any fiscal quarter in which Registrable Securities are sold to
underwriters in a firm commitment or best efforts underwritten offering and (ii) if not sold
to underwriters in such an offering, commencing on the first day of the first fiscal quarter
of the Company, after the effective date of a Registration Statement, which statements shall
cover said 12-month periods; provided that this requirement shall be deemed
satisfied by the Company and the Guarantors complying with Section 4.03 of the Indenture.

(q) If the Exchange Offer is to be consummated, upon delivery of the Registrable
Securities by Holders to the Company (or to such other Person as directed by the Company),
in exchange for the Exchange Notes, as the case may be, the Company shall mark, or cause to
be marked, on such Registrable Securities that such Registrable Securities are being
cancelled in exchange for the Exchange Notes, as the case may be; in no event shall such
Registrable Securities be marked as paid or otherwise satisfied.

(r) Use reasonable efforts to cooperate with each seller of Registrable
Securities covered by any Registration Statement and each underwriter, if any, participating
in the disposition of such Registrable Securities and their respective counsel in connection
with any filings required to be made with the Financial Industry Regulatory Authority, Inc.
(the “FINRA”).

(s) Use its respective reasonable best efforts to take all other steps reasonably
necessary to effect the registration of the Exchange Notes and/or Registrable Securities
covered by a Registration Statement contemplated hereby.

The Company may require each seller of Registrable Securities as to which any registration is
being effected to furnish to the Company such information regarding such seller and the
distribution of such Registrable Securities as the Company may, from time to time, reasonably
request. Furthermore, a Holder that sells Registrable Securities pursuant to a Shelf Registration
Statement will be required to be named as a selling security holder in the related Prospectus and
to deliver such Prospectus to purchasers of its Registrable Securities. The Company and the
Guarantors may exclude from such registration the Registrable Securities of any seller so long as
such seller fails to furnish such information within a reasonable time after receiving such
request. Each seller as to which any Shelf Registration is being effected agrees to furnish
promptly to the Company all information required to be disclosed in order to make the information
previously furnished to the Company by such seller not materially misleading.

 

16

 

If any such Registration Statement refers to any Holder by name or otherwise as the holder of
any securities of the Company, then such Holder shall have the right to require (i) the insertion
therein of language, in form and substance reasonably satisfactory to such Holder, to the effect
that the holding by such Holder of such securities is not to be construed as a recommendation by
such Holder of the investment quality of the securities covered thereby and that such holding does
not imply that such Holder will assist in meeting any future financial requirements of the Company
and the Guarantors, or (ii) in the event that such reference to such Holder by name or otherwise is
not required by the Securities Act or any similar federal statute then in force, the deletion of
the reference to such Holder in any amendment or supplement to the Registration Statement filed or
prepared subsequent to the time that such reference ceases to be required.

Each Holder of Registrable Securities and each Participating Broker-Dealer agrees by its
acquisition of such Registrable Securities or Exchange Notes to be sold by such Participating
Broker-Dealer, as the case may be, that, upon actual receipt of any notice from the Company or a
Guarantor of the happening of any event of the kind described in Section 5(c)(ii), 5(c)(iv)
or 5(c)(v) hereof, such Holder will forthwith discontinue disposition of such Registrable
Securities covered by such Registration Statement or Prospectus or Exchange Notes to be sold by
such Holder or Participating Broker-Dealer, as the case may be, until such Holder’s or
Participating Broker-Dealer’s receipt of the copies of the supplemented or amended Prospectus
contemplated by Section 5(k) hereof, or until it is advised in writing (the
“Advice”) by the Company or a Guarantor that the use of the applicable Prospectus may be
resumed, and has received copies of any amendments or supplements thereto. In the event that the
Company or a Guarantor shall give any such notice, each of the Applicable Period and the
Effectiveness Period shall be extended by the number of days during such periods from and including
the date of the giving of such notice to and including the date when each seller of Registrable
Securities covered by such Registration Statement or Exchange Notes to be sold by such
Participating Broker-Dealer, as the case may be, shall have received (x) the copies of the
supplemented or amended Prospectus contemplated by Section 5(k) hereof or (y) the Advice.

6. Registration Expenses.

All fees and expenses incident to the performance of or compliance with this Agreement by the
Company and the Guarantors of their obligations under Sections 2, 3, 4,
5 and 8  shall be borne by the Company and the Guarantors, whether or not the Exchange
Offer Registration Statement or any Shelf Registration Statement is filed or becomes effective or
the Exchange Offer is consummated, including, without limitation, (i) all registration and filing
fees (including, without limitation, (A) fees with respect to filings required to be made with
FINRA in connection with an underwritten offering and (B) fees and expenses of compliance with
state securities or Blue Sky laws (including, without limitation, reasonable fees and disbursements
of counsel in connection with Blue Sky qualifications of the Registrable Securities or Exchange
Notes and determination of the eligibility of the Registrable Securities or Exchange Notes for
investment under the laws of such jurisdictions in the United States (x) where the holders of
Registrable Securities are located, in the case of the Exchange Notes, or (y) as provided in
Section 5(h) hereof, in the case of Registrable Securities or Exchange Notes to be sold by
a Participating Broker-Dealer during the Applicable Period)), (ii) printing expenses, including,
without

 

17

 

limitation, printing prospectuses if the printing of prospectuses is requested by the managing underwriter or underwriters, if any, by the Holders of a majority in aggregate principal
amount of the Registrable Securities included in any Registration Statement or in respect of
Registrable Securities or Exchange Notes to be sold by any Participating Broker-Dealer during the
Applicable Period, as the case may be, (iii) fees and expenses of the Trustee, any exchange agent
and their counsel, (iv) fees and disbursements of counsel for the Company and the Guarantors and,
in the case of a Shelf Registration, reasonable fees and disbursements of one special counsel for
all of the sellers of Registrable Securities selected by the Holder of a majority in aggregate
principal amount of Registrable Securities covered by such Shelf Registration (which counsel shall
be reasonably satisfactory to the Company and the Guarantors) exclusive of any counsel retained
pursuant to Section 7 hereof, (v) fees and disbursements of all independent certified public
accountants referred to in Section 5(m) hereof (including, without limitation, the expenses of any
“cold comfort” letters required by or incident to such performance), (vi) rating agency fees, if
any, and any fees associated with making the Registrable Securities or Exchange Notes eligible for
trading through The Depository Trust Company, (vii) fees and expenses of all other Persons retained
by the Issuer and the Guarantors, and (viii) any fees and expenses incurred in connection with the
listing of the Notes to be registered on any securities exchange, and the obtaining of a rating of
the Notes, in each case, if applicable.

7. Indemnification and Contribution.

(a) The Company and each Guarantor, jointly and severally, agrees, to indemnify and hold
harmless each Holder of Registrable Securities, and each Participating Broker-Dealer selling
Exchange Notes during the Applicable Period, and each Person, if any, who controls such Person or
its affiliates within the meaning of Section 15 of the Act or Section 20 of the Exchange Act (each,
a “Participant”) and each Initial Purchaser, to the fullest extent lawful, against any losses,
claims, damages or liabilities, joint or several, to which any Participant may become subject under
the Securities Act, the Exchange Act or otherwise, insofar as any such losses, claims, damages or
liabilities (or actions in respect thereof) arise out of or are based upon:

(1) any untrue statement or alleged untrue statement of any material fact contained in
any Registration Statement (or any amendment thereto), or Prospectus (as amended or
supplemented if the Company or the Guarantors shall have furnished any amendments or
supplements thereto) or any preliminary prospectus; or

(2) the omission or alleged omission to state, in any Registration Statement (or any
amendment thereto), or Prospectus (as amended or supplemented if the Company or the
Guarantors shall have furnished any amendments or supplements thereto) or any preliminary
prospectus or any other document or any amendment or supplement thereto, a material fact
required to be stated therein or necessary to make the statements therein not misleading,

 

18

 

except, in each case, insofar as such losses, claims, damages or liabilities are arising
out of or based upon any untrue statement or omission or alleged untrue statement or
omission made in reliance upon and in conformity with any information relating to any
Initial Purchaser or any Holder furnished to the Company or the Guarantors in writing by or
through the Initial Purchasers or any selling Holder expressly for use therein; and agree (subject to the limitations set forth in the proviso to this sentence) to reimburse, as
incurred, the Participant for any reasonable legal or other out-of-pocket expenses incurred by the
Participant in connection with investigating, defending against or appearing as a third-party
witness in connection with any such loss, claim, damage, liability or action; provided,
however, the Company and the Guarantors will not be liable in any such case to the extent that
any such loss, claim, damage, or liability arises out of or is based upon any untrue statement or
alleged untrue statement or omission or alleged omission made in any Registration Statement (or any
amendment thereto), or Prospectus (as amended or supplemented if the Company or the Guarantors
shall have furnished any amendments or supplements thereto) or any preliminary prospectus or any
amendment or supplement thereto in reliance upon and in conformity with written information
relating to any Participant furnished to the Company by such Participant or its agent expressly for
use therein. The indemnity provided for in this Section 7 will be in addition to any
liability that the Company and the Guarantors may otherwise have to Participants. Neither the
Company nor any of the Guarantors shall be liable under this Section 7 to any Participant
regarding any settlement or compromise or consent to the entry of any judgment with respect to any
pending or threatened claim, action, suit or proceeding in respect of which indemnification or
contribution may be sought hereunder (whether or not the indemnified parties are actual or
potential parties to such claim or action) unless such settlement, compromise or consent is
consented to by the Company or the Guarantors, which consent shall not be unreasonably withheld.

(b) Each Participant, severally and not jointly, agrees to indemnify and hold harmless the
Company and the Guarantors, their directors (or equivalent), their officers who sign any
Registration Statement, the Initial Purchasers, and each person, if any, who controls the Company,
any Guarantor or any Initial Purchaser within the meaning of Section 15 of the Act or Section 20 of
the Exchange Act against any losses, claims, damages or liabilities to which the Company or any
Guarantor or any such director, officer or controlling person may become subject under the Act, the
Exchange Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in
respect thereof) arise out of or are based upon (i) any untrue statement or alleged untrue
statement of any material fact contained in any Registration Statement, Prospectus, any amendment
or supplement thereto, or any preliminary prospectus, or (ii) the omission or the alleged omission
to state therein a material fact necessary to make the statements therein not misleading, in each
case to the extent, but only to the extent, that such untrue statement or alleged untrue statement
or omission or alleged omission was made in reliance upon and in conformity with written
information concerning such Participant, furnished to the Company by or on behalf of such
Participant, specifically for use therein; and subject to the limitation set forth immediately
preceding this clause, will reimburse, as incurred, any reasonable legal or other out-of-pocket
expenses incurred by the Company or the Guarantors or any such director, officer or controlling
person in connection with investigating or defending against or appearing as a third party witness
in connection with any such loss, claim, damage, liability or action in respect thereof. The
indemnity provided for in this Section 7 will be in addition to any liability that the
Participants may otherwise have to the indemnified parties.

 

19

 

(c) Promptly after receipt by an indemnified party under this Section 7 of notice of the
commencement of any action, such indemnified party will, if a claim in respect thereof is to be
made against an indemnifying party under this Section 7, notify the indemnifying party in
writing of the commencement thereof; provided that the failure to so notify the
indemnifying party will not relieve it from any liability which it may have to any indemnified
party under this Section 7 except to the extent that it has been materially prejudiced by
such failure (through the forfeiture of substantive rights and defenses) and shall not relieve the
indemnifying party from any liability that the indemnifying party may have to an indemnified party
other than under this Section 7. In case any such action is brought against any indemnified
party and such indemnified party seeks or intends to seek indemnity from an indemnifying party, the
indemnifying party will be entitled to participate in and, to the extent that it shall elect,
jointly with all other indemnifying parties similarly notified, by written notice delivered to the
indemnified party promptly after receiving the aforesaid notice from such indemnified party, to
assume the defense thereof with counsel reasonably satisfactory to such indemnified party;
provided, however, if the defendants in any such action include both the indemnified party
and the indemnifying party and the indemnified party shall have reasonably concluded that a
conflict may arise between the positions of the indemnifying party and the indemnified party in
conducting the defense of any such action or that there may be legal defenses available to it
and/or other indemnified parties which are different from or additional to those available to the
indemnifying party, the indemnified party or parties shall have the right to select separate
counsel to assume such legal defenses and to otherwise participate in the defense of such action on
behalf of such indemnified party or parties. Upon receipt of notice from the indemnifying party to
such indemnified party of such indemnifying party’s election so to assume the defense of such
action and approval by the indemnified party of counsel, the indemnifying party will not be liable
to such indemnified party under this Section 7 for any legal or other expenses subsequently
incurred by such indemnified party in connection with the defense thereof unless (i) the
indemnified party shall have employed separate counsel in accordance with the proviso to the
immediately preceding sentence (it being understood, however, that the indemnifying party shall not
be liable for the expenses of more than one separate counsel (together with local counsel (in each
jurisdiction)), which shall be selected by Participants who sold a majority in interest of the
Registrable Securities and/or Exchange Notes, as the case may be, subject to such litigation sold
by all such Participants in the case of paragraph (a) of this Section 7 or the Company and
the Guarantors in the case of paragraph (b) of this Section 7), representing the indemnified
parties who are parties to such action) or (ii) the indemnifying party shall not have employed
counsel satisfactory to the indemnified party to represent the indemnified party within a
reasonable time after notice of commencement of the action, in each of which cases the fees and
expenses of counsel shall be at the expense of the indemnifying party. It is understood and agreed
that the indemnifying person shall not, in connection with any proceeding or separate but related
or substantially similar proceedings in the same jurisdiction arising out of the same general
allegations or circumstances, be liable for the reasonable fees and expenses of more than one
separate firm (in addition to any local counsel) representing the indemnified parties under
paragraph (a) or paragraph (b) of this Section 7, as the case may be, who are parties to
such action or actions. Any such separate firm for any Participants shall be designated in writing
by Participants who sold a majority in interest of the Registrable Securities and Exchange Notes
sold by all such Participants in the case of paragraph (a) of this Section 7 or the Company and the
Guarantors in the case of paragraph (b) of this Section 7. In the event that any
Participants are indemnified persons collectively entitled, in connection with a proceeding or
separate but related or substantially similar proceedings in a single jurisdiction, to the payment
of fees and expenses of a single separate firm under this Section 7(c), and any such
Participants cannot agree to a mutually acceptable separate firm to act as counsel thereto, then
such separate firm for all
such indemnified parties shall be designated in writing by Participants who sold a majority in
interest of the Registrable Securities and Exchange Notes sold by all such Participants.

 

20

 

(d) The indemnifying party under this Section 7 shall not be liable for any settlement
of any proceeding effected without its written consent, which will not be unreasonably withheld,
but if settled with such consent or if there be a final judgment for the plaintiff, the
indemnifying party agrees to indemnify the indemnified party against any loss, claim, damage,
liability or expense by reason of such settlement or judgment. Notwithstanding the foregoing
sentence, if at any time an indemnified party shall have requested an indemnifying party to
reimburse the indemnified party for fees and expenses of counsel as contemplated by this
Section 7, the indemnifying party agrees that it shall be liable for any settlement of any
proceeding effected without its written consent if (i) such settlement is entered into more than 30
days after receipt by such indemnifying party of the aforesaid request and (ii) such indemnifying
party shall not have reimbursed the indemnified party in accordance with such request prior to the
date of such settlement. No indemnifying party shall, without the prior written consent of the
indemnified party, effect any settlement, compromise or consent to the entry of judgment in any
pending or threatened action, suit or proceeding in respect of which any indemnified party is or
could have been a party and indemnity was or could have been sought hereunder by such indemnified
party, unless such settlement, compromise or consent (i) includes an unconditional release of such
indemnified party from all liability on claims that are the subject matter of such action, suit or
proceeding and (ii) does not include any statements as to or any findings of fault, culpability or
failure to act by or on behalf of any indemnified party.

(e) In circumstances in which the indemnity agreement provided for in the preceding paragraphs
of this Section 7 is unavailable to, or insufficient to hold harmless, an indemnified party
in respect of any losses, claims, damages or liabilities (or actions in respect thereof) (other
than by virtue of the failure of an indemnified party to notify the indemnifying party of its right
to indemnification pursuant to paragraph (a) or (b) of this Section 7, where such failure
materially prejudices the indemnifying party (through the forfeiture of substantial rights or
defenses)), each indemnifying party, in order to provide for just and equitable contribution, shall
contribute to the amount paid or payable by such indemnified party as a result of such losses,
claims, damages or liabilities (or actions in respect thereof) in such proportion as is appropriate
to reflect (i) the relative benefits received by the indemnifying party or parties on the one hand
and the indemnified party on the other from the offering of the Notes or (ii) if the allocation
provided by the foregoing clause (i) is not permitted by applicable law, not only such relative
benefits but also the relative fault of the indemnifying party or parties on the one hand and the
indemnified party on the other in connection with the statements or omissions or alleged statements
or omissions that resulted in such losses, claims, damages or liabilities (or actions in respect
thereof). The relative benefits received by the Company and the Guarantors on the one hand and such
Participant on the other shall be deemed to be in the same proportion that the total net proceeds
from the offering (before deducting expenses) of the Notes received by the Company bear to the
total discounts and commissions received by such Participant in connection with the sale of the
Notes (or if such Participant did not receive discounts or commissions, the value of the Notes).
The relative fault of the parties shall be determined by reference to, among other things, whether
the untrue or alleged untrue statement of a material fact or the omission or alleged omission to
state a material fact relates to information supplied by the Company and the Guarantors on the one
hand, or the Participants on the

 

21

 

other, the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission
or alleged statement or omission, and any other equitable considerations appropriate in the
circumstances. The parties agree that it would not be equitable if the amount of such contribution
were determined by pro rata or per capita allocation or by any other method of allocation that does
not take into account the equitable considerations referred to in the first sentence of this
paragraph (e). Notwithstanding any other provision of this paragraph (e), no Participant shall be
obligated to make contributions hereunder that in the aggregate exceed the total discounts,
commissions and other compensation or net proceeds on the sale of Notes received by such
Participant in connection with the sale of the Notes, less the aggregate amount of any damages that
such Participant has otherwise been required to pay by reason of the untrue or alleged untrue
statements or the omissions or alleged omissions to state a material fact, and no person guilty of
fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to
contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes
of this paragraph (d), each person, if any, who controls a Participant within the meaning of
Section 15 of the Act or Section 20 of the Exchange Act shall have the same rights to contribution
as the Participants, and each director of the Company or any Guarantor, each officer of the Company
or any Guarantor and each person, if any, who controls the Company or such Guarantor within the
meaning of Section 15 of the Act or Section 20 of the Exchange Act, shall have the same rights to
contribution as the Company or such Guarantor.

8. Rule 144A.

The Company and the Guarantors covenant and agree that, for so long as any Registrable
Securities remain outstanding, they will use reasonable best efforts to file the reports required
to be filed by it under the Securities Act and the Exchange Act and the rules and regulations
adopted by the SEC thereunder in a timely manner in accordance with the requirements of the
Securities Act and the Exchange Act and, if at any time the Company or any Guarantor is not
required to file such reports, the Company and the Guarantors will, upon the request of any Holder
or beneficial owner of Registrable Securities, make available such information necessary to permit
sales pursuant to Rule 144A.

9. Underwritten Registrations.

The Company and the Guarantors shall not be required to assist in an underwritten offering
unless requested by the Holders of a majority in aggregate principal amount of the Registrable
Securities. If any of the Registrable Securities covered by any Shelf Registration are to be sold
in an underwritten offering, the investment banker or investment bankers and manager or managers
that will manage the offering will be selected by the Holders of a majority in aggregate principal
amount of such Registrable Securities included in such offering and shall be reasonably acceptable
to the Company and the Guarantors.

No Holder of Registrable Securities may participate in any underwritten registration hereunder
unless such Holder (a) agrees to sell such Holder’s Registrable Securities on the basis provided in
any underwriting arrangements approved by the Persons entitled hereunder to approve such
arrangements and (b) completes and executes all questionnaires, powers of attorney, indemnities,
underwriting agreements and other documents required under the terms of such underwriting
arrangements.

 

22

 

10. Miscellaneous.

(a) No Inconsistent Agreements. The Company and the Guarantors have not as of the date
hereof, and the Company and the Guarantors shall not, after the date of this Agreement, enter into
any agreement with respect to any of their securities that is inconsistent with the rights granted
to the Holders of Registrable Securities in this Agreement or otherwise conflicts with the
provisions hereof. The rights granted to the Holders hereunder do not in any way conflict with and
are not inconsistent with the rights granted to the holders of the Company’s and Guarantors’ other
issued and outstanding securities under any agreement in effect on the date hereof.

(b) Adjustments Affecting Registrable Securities. The Company and the Guarantors
shall not, directly or indirectly, take any action with respect to the Registrable Securities
as a class that would adversely affect the ability of the Holders of Registrable Securities to
include such Registrable Securities in a registration undertaken pursuant to this Agreement.

(c) Amendments and Waivers. The provisions of this Agreement may not be amended, modified or
supplemented, and waivers or consents to departures from the provisions hereof may not be given,
otherwise than with the prior written consent of (I) the Company and the Guarantors, and (II) (A)
the Holders of not less than a majority in aggregate principal amount of the then outstanding
Registrable Securities and (B) in circumstances that would adversely affect the Participating
Broker-Dealers, the Participating Broker-Dealers holding not less than a majority in aggregate
principal amount of the Exchange Notes held by all Participating Broker-Dealers; provided,
however, that Section 7 and this Section 10(c) may not be amended, modified or
supplemented without the prior written consent of each Holder and each Participating Broker-Dealer
(including any person who was a Holder or Participating Broker-Dealer of Registrable Securities or
Exchange Notes, as the case may be, disposed of pursuant to any Registration Statement) adversely
affected by any such amendment, modification or supplement. Notwithstanding the foregoing, a waiver
or consent to depart from the provisions hereof with respect to a matter that relates exclusively
to the rights of Holders of Registrable Securities whose securities are being sold or tendered
pursuant to a Registration Statement and that does not directly or indirectly affect, impair, limit
or compromise the rights of other Holders of Registrable Securities may be given by Holders of at
least a majority in aggregate principal amount of the Registrable Securities being sold or tendered
pursuant to such Registration Statement.

 

23

 

(d) Notices. All notices and other communications (including, without limitation, any
notices or other communications to the Trustee) provided for or permitted hereunder shall be made
in writing by hand-delivery, registered first-class mail, next-day air courier or facsimile:

(1) if to a Holder of the Registrable Securities, or any Participating
Broker-Dealer, at the most current address of such Holder, or Participating Broker-Dealer,
as the case may be, set forth on the records of the registrar under the Indenture, with a
copy in like manner to the Initial Purchasers as follows:

Merrill Lynch, Pierce, Fenner & Smith Incorporated

One Bryant Park

New York, New York 10036

Facsimile: (212) 901-7897

Attention: Legal Department

Morgan Stanley & Co. Incorporated

1585 Broadway

New York, New York 10036

Attention: Whitner H. Marshall

cc: Legal Department

Wells Fargo Securities, LLC

One Wachovia Center

301 South College Street

Charlotte, North Carolina 28288-0737

Attention: Suzanne Alwan

with a copy to:

Simpson Thacher & Bartlett LLP

425 Lexington Avenue

New York, New York 10017

Facsimile: (212) 455-2502

Attention: Lesley Peng

(2) if to the Initial Purchasers, at the address specified in Section 10(d)(i);

(3) if to the Company or the Guarantors, at the address as follows:

Swift Services Holdings, Inc.

c/o Swift Transportation Company

2200 S. 75th Ave.

Phoenix, AZ 85403

Facsimile: (623) 907-7464

Attention: James Fry

with copies to:

Scudder Law Firm, P.C., L.L.O.

411 South 13th St., 2nd Floor

Lincoln, NE 68508

Facsimile: (402) 435-3223

Attention: Earl Scudder

Skadden, Arps, Slate, Meagher & Flom LLP

Four Times Square

New York, NY 10036

Facsimile: (917) 777-4112

Attention: Richard Aftanas

 

24

 

All such notices and communications shall be deemed to have been duly given when delivered by
hand, if personally delivered; five Business Days after being deposited in the mail, postage
prepaid, if mailed; one Business Day after being timely delivered to a next-day air courier; and
upon written confirmation, if sent by facsimile.

Copies of all such notices, demands or other communications shall be concurrently
delivered by the Person giving the same to the Trustee at the address and in the manner
specified in such Indenture.

(e) Successors and Assigns. This Agreement shall inure to the benefit of and be
binding upon the successors and assigns of each of the parties hereto, the Holders and the
Participating Broker-Dealers; provided, however, that nothing herein shall be deemed to permit any
assignment, transfer or other disposition of Registrable Securities in violation of the terms of
the Purchase Agreement or the Indenture.

(f) Counterparts. This Agreement may be executed in any number of counterparts and by
the parties hereto in separate counterparts, each of which when so executed shall be deemed to be
an original and all of which taken together shall constitute one and the same agreement.

(g) Headings. The headings in this Agreement are for convenience of reference
only, are not a part of this Agreement and shall not limit or otherwise affect the meaning
hereof.

(h) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, AS APPLIED TO CONTRACTS MADE AND PERFORMED
ENTIRELY WITHIN THE STATE OF NEW YORK. EACH OF THE PARTIES HEREBY WAIVE ANY RIGHT TO TRIAL BY JURY
IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT.

(i) Severability. If any term, provision, covenant or restriction of this
Agreement is held by a court of competent jurisdiction to be invalid, illegal, void, unenforceable
or against public policy, the remainder of the terms, provisions, covenants and restrictions set
forth herein shall remain in full force and effect and shall in no way be affected, impaired or
invalidated, and the parties hereto shall use their best efforts to find and employ an alternative
means to achieve the same or substantially the same result as that contemplated by such term,
provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the
parties that they would have executed the remaining terms, provisions, covenants and restrictions
without including any of such that may be hereafter declared invalid, illegal, void or
unenforceable.

 

25

 

(j) Notes Held by the Company or its Affiliates. Whenever the consent or approval of
Holders of a specified percentage of Registrable Securities is required hereunder, Registrable
Securities held by the Company or its affiliates (as such term is defined in Rule 405
under the Securities Act) shall not be counted in determining whether such consent or approval was
given by the Holders of such required percentage.

(k) Third-Party Beneficiaries. Holders of Registrable Securities and
Participating Broker-Dealers are intended third-party beneficiaries of this Agreement, and this
Agreement may be enforced by such Persons.

(l) Entire Agreement. This Agreement, together with the Purchase Agreement and
the Indenture, is intended by the parties as a final and exclusive statement of the agreement and
understanding of the parties hereto in respect of the subject matter contained herein and therein
and any and all prior oral or written agreements, representations, or warranties, contracts,
understandings, correspondence, conversations and memoranda between the Holders on the one hand and
the Company and the Guarantors on the other, or between or among any agents, representatives,
parents, subsidiaries, affiliates, predecessors in interest or successors in interest with respect
to the subject matter hereof and thereof are merged herein and replaced hereby.

 

26

 

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

	 	 	 	 	 
	 	SWIFT SERVICES HOLDINGS, INC. 

 	 
	 	By:  	/s/ Jerry Moyes
 	 
	 	 	Jerry Moyes 	 
	 	 	Chief Executive Officer 	 
	 
	 	SWIFT TRANSPORTATION COMPANY

COMMON MARKET EQUIPMENT CO., LLC

ESTRELLA DISTRIBUTING LLC

INTERSTATE EQUIPMENT LEASING, LLC

M.S. CARRIERS, LLC

SPARKS FINANCE LLC

SWIFT INTERMODAL, LLC

SWIFT LEASING CO., LLC

SWIFT TRANSPORTATION CO., LLC

SWIFT TRANSPORTATION CO. OF ARIZONA, LLC

SWIFT TRANSPORTATION CO. OF VIRGINIA, LLC

SWIFT TRANSPORTATION SERVICES, LLC,

as Guarantors

 	 
	 	By:  	/s/ Jerry Moyes
 	 
	 	 	Jerry Moyes 	 
	 	 	Chief Executive Officer 	 

Signature Page to Registration Rights Agreement

 

 

 

	 	 	 	 	 
	The foregoing Agreement is hereby
confirmed and
 accepted as of the
date first above written.	 	 
	 
	 	 	 	 
	MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED	 	 
	 
	 	 	 	 
	By:

	 	/s/ [ILLEGIBLE]
 

Name:
	 	 
	 

	 	Title:	 	 
	 
	 	 	 	 
	MORGAN STANLEY & CO. INCORPORATED	 	 
	 
	 	 	 	 
	By:

	 	/s/ Kenneth G. Pott	 	 
	 

	 	 	 	 
	 

	 	Name: Kenneth G. Pott	 	 
	 

	 	Title:   Managing Director	 	 
	 
	 	 	 	 
	WELLS FARGO SECURITIES, LLC	 	 
	 
	 	 	 	 
	By:

	 	/s/ Eric H. Schless	 	 
	 

	 	 	 	 
	 

	 	Name: Eric H. Schless	 	 
	 

	 	Title:   Managing Director	 	 
	 
	 	 	 	 
	Acting for themselves and the other several
Initial
 Purchasers listed in Schedule A to
the Purchase Agreement	 	 

Signature Page to Registration Rights Agreement

 

 

 

SCHEDULE A

Initial Guarantors

Swift Transportation Company

Common Market Equipment Co., LLC

Estrella Distributing LLC

Interstate Equipment Leasing, LLC

M.S. Carriers, LLC

Sparks Finance LLC

Swift Intermodal, LLC

Swift Leasing Co., LLC

Swift Transportation Co., LLC

Swift Transportation Co. of Arizona, LLC

Swift Transportation Co. of Virginia, LLC

Swift Transportation Services, LLC

 

 

 

SCHEDULE B

Initial Purchasers

Merrill Lynch, Pierce, Fenner & Smith Incorporated

Morgan Stanley & Co. Incorporated

Wells Fargo Securities, LLC

Citigroup Global Markets Inc.

Deutsche Bank Securities Inc.

UBS Securities, LLCExhibit 10.5

Exhibit 10.5

SWIFT TRANSPORTATION COMPANY

2007 OMNIBUS INCENTIVE PLAN,

as amended and restated as of December 15, 2010

ARTICLE I

PURPOSE AND EFFECTIVE DATE

Section 1.1 Purpose. The purpose of the Plan is to provide incentives to certain
Employees, Directors, and Consultants of the Company in a manner designed to reinforce the
Company’s performance goals; to link a significant portion of Participants’ compensation to the
achievement of such goals; and to continue to attract, motivate, and retain key personnel on a
competitive basis.

Section 1.2 Effective Date. The Plan was adopted by Swift’s Board of Directors and
stockholders on October 10, 2007, and as amended and restated as of December 15, 2010 (the
“Effective Date”).

ARTICLE II

DEFINITIONS AND CONSTRUCTION

Section 2.1 Certain Defined Terms. As used in this Plan, unless the context otherwise
requires, the following terms shall have the following meanings:

(a) “Award” means any form of stock option, stock appreciation right, Stock Award,
Restricted Stock Unit Award, performance unit, Performance Award, Cash Incentive Award or other
incentive award granted under the Plan, whether singly, in combination, or in tandem, to a
Participant by the Committee pursuant to such terms, conditions, restrictions, and/or limitations,
if any, as the Committee may establish by the Award Notice or otherwise.

(b) “Award Notice” means the document establishing the terms, conditions,
restrictions, and/or limitations of an Award in addition to those established by this Plan and by
the Committee’s exercise of its administrative powers. The Committee will establish the form of
the document in the exercise of its sole and absolute discretion, provided the terms of such
document are not inconsistent with or contradictory to this Plan.

(c) “Board” means the Board of Directors of Swift.

(d) “Cash Incentive Award” means a right or other interest granted to a Participant
pursuant to Article XIII which is payable in cash and which is not a Stock Award.

(e) “CEO” means the Chief Executive Officer of Swift.

 

 

 

(f) “Code” means the Internal Revenue Code of 1986, as amended from time to time,
including the regulations thereunder and any successor provisions and the regulations thereto.

(g) “Committee” means (i) the Board, and (ii) the Compensation Committee of the Board,
or such other Board committee as may be designated by the Board to administer the Plan;
provided, that following an Initial Public Offering the Committee shall consist of two or
more Directors, all of whom are both a “Non-Employee Director” within the meaning of Rule 16b-3
under the Exchange Act and an “outside director” within the meaning of the definition of such term
as contained in Treasury Regulation Section 1.162-27(e)(3), or any successor definition adopted
under Section 162(m) of the Code.

(h) “Common Stock” means the Class A Common Stock, par value $0.01 per share, of Swift
Transportation Company, a Delaware corporation; provided, however, prior to the
Merger, Common Stock means the common stock, par value $0.001 per share, of Swift Corporation, a
Nevada corporation.

(i) “Company” means Swift Transportation Company (f/k/a Swift Holdings Corp.), a
Delaware corporation, and its Subsidiaries; provided, however, prior to the Merger,
Company shall include Swift Corporation, a Nevada corporation.

(j) “Consultants” means the consultants, advisors, and independent contractors
retained by the Company.

(k) “Covered Employee” means an Employee who is a “covered employee” within the
meaning of Section 162(m) of the Code.

(l) “Director” means a member of the Board who is not an Employee.

(m) “Employee” means any person employed by the Company on a full or part-time basis.

(n) “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to
time, including the rules thereunder and any successor provisions and the rules thereto.

 

2

 

(o) “Fair Market Value” shall be determined as set forth below, unless otherwise
determined by the Committee. Fair Market Value shall mean the closing price of the Common Stock on
the principal national securities exchange on which the Common Stock is then listed or admitted to
trading, and the closing price shall be the last reported sale price, regular way, on such date
(or, if no sale takes place on such date, the last reported sale price, regular way, on the next
preceding date on which such sale took place), as reported by such exchange. If the Common Stock
is not then so listed or admitted to trading on a national securities exchange, then Fair Market
Value shall be the closing price (the last reported sale price regular way) of the Common Stock in
the over-the-counter market as reported by the National Association of Securities Dealers Automated
Quotation System (“NASDAQ”), if the closing price of the Common Stock is then reported by
NASDAQ. If the Common Stock closing price is not then reported by NASDAQ, then Fair Market Value
shall be the mean between the representative closing bid and closing asked prices of the Common
Stock in the over-the-counter market as reported by NASDAQ. If the Common Stock bid and asked
prices are not then reported by NASDAQ, then Fair Market Value shall be the quote furnished by any
member of the National Association of Securities Dealers, Inc. selected from time to time by Swift
for that purpose. If no member of the National Association of Securities Dealers, Inc. then
furnishes quotes with respect to the Common Stock and the Common Stock is not listed or admitted to
trading on a national securities exchange, then Fair Market Value shall be the value determined by
the Committee in good faith by applying any reasonable valuation method permitted under Section
409A of the Code to determine fair market value in accordance with Section 409A of the Code.

(p) “Initial Public Offering” means the closing of the first public offering of shares
of Common Stock pursuant to an effective registration statement under the Securities Act.

(q) “Merger” means the consummation of the transactions contemplated under the
Agreement and Plan of Merger, dated as of                     , 2010 between Swift Corporation, a Nevada
corporation, and Swift Transportation Company, a Delaware corporation.

(r) “Negative Discretion” means the discretion authorized by the Plan to be applied by
the Committee in determining the size of a Performance Award for a Performance Period if, in the
Committee’s sole judgment, such application is appropriate. Negative Discretion may only be used
by the Committee to eliminate or reduce the size of a Performance Award. In no event shall any
discretionary authority granted to the Committee by the Plan, including, but not limited to
Negative Discretion, be used to: (i) grant Performance Awards for a Performance Period if the
Performance Goals for such Performance Period have not been attained under the applicable
Performance Formula; or (ii) increase a Performance Award above the maximum amount payable under
Section 6.3 of the Plan.

(s) “Participant” means either an Employee, Director, or Consultant to whom an Award
has been granted under the Plan.

(t) “Performance Awards” means the Stock Awards and performance units granted pursuant
to Article VII. Performance Awards are intended to qualify as “performance-based compensation”
under Section 162(m) of the Code, if such provision is applicable to Swift. Performance Awards
also include Cash Incentive Awards granted pursuant to Article XIII which are intended to qualify
as “performance based compensation” under Section 162(m) of the Code.

 

3

 

(u) “Performance Criteria” means the one or more criteria that the Committee shall
select for purposes of establishing the Performance Goal(s) for a Performance Period. The
Performance Criteria that will be used to establish such Performance Goal(s) shall be expressed in
terms of the attainment of specified levels of one or any variation or combination of the
following: revenues (including, without limitation, measures such as revenue per mile (loaded or
total) or revenue per tractor), net revenues, fuel surcharges, accounts receivable collection or
days sales outstanding, cost reductions and savings (or limits on cost increases), safety and
claims (including, without limitation, measures such as accidents per million miles and number of
significant accidents), operating income, operating ratio, income before taxes, net income,
earnings before interest and taxes (EBIT), earnings before interest, taxes, depreciation, and
amortization (EBITDA), adjusted net income, earnings per share, adjusted earnings per share, stock
price, working capital measures, return on assets, return on revenues, debt-to-equity or
debt-to-capitalization (in each case with or without lease adjustment), productivity and efficiency
measures (including, without limitation, measures such as driver turnover, trailer to tractor
ratio, and tractor to non-driver ratio), cash position, return on stockholders’ equity, return on
invested capital, cash flow measures (including, without limitation, free cash flow), market share,
stockholder return, economic value added, or completion of acquisitions (either with or without
specified size). In addition, the Committee may establish, as additional Performance Criteria, the
attainment by a Participant of one or more personal objectives and/or goals that the Committee
deems appropriate, including but not limited to implementation of Company policies, negotiation of
significant corporate transactions, development of long-term business goals or strategic plans for
the Company, or the exercise of specific areas of managerial responsibility. Each of the
Performance Criteria may be expressed on an absolute and/or relative basis with respect to one or
more peer group companies or indices, and may include comparisons with past performance of the
Company (including one or more divisions thereof, if any) and/or the current or past performance of
other companies.

(v) “Performance Formula” means, for a Performance Period, the one or more objective
formulas (expressed as a percentage or otherwise) applied against the relevant Performance Goal(s)
to determine, with regard to the Award of a particular Participant, whether all, some portion but
less than all, or none of the Award has been earned for the Performance Period.

(w) “Performance Goals” means, for a Performance Period, the one or more goals
established by the Committee for the Performance Period based upon the Performance Criteria. Any
Performance Goal shall be established in a manner such that a third party having knowledge of the
relevant performance results could calculate the amount to be paid to the Participant. For any
Performance Period, the Committee is authorized at any time during the initial time period
permitted by Section 162(m) of the Code, or at any time thereafter, in its sole and absolute
discretion, to adjust or modify the calculation of a Performance Goal for such Performance Period
in order to prevent the dilution or enlargement of the rights of Participants (i) in the event of,
or in anticipation of, any unusual or extraordinary corporate item, transaction, event, or
development; (ii) in recognition of, or in anticipation of, any other unusual or nonrecurring
events affecting the Company, or the financial statements of the Company, or in response to, or in
anticipation of, changes in applicable laws, regulations, accounting principles, or business
conditions; and (iii) in view of the Committee’s assessment of the business strategy of the
Company, performance of comparable organizations, economic and business conditions, and any other
circumstances deemed relevant.

(x) “Performance Period” means the one or more periods of time, which may be of
varying and overlapping durations, as the Committee may select, over which the attainment of one or
more Performance Goals will be measured for the purpose of determining a Participant’s right to and
the payment of a Performance Award.

 

4

 

(y) “Plan” means this 2007 Omnibus Incentive Plan, as amended and restated as of
September 2, 2010.

(z) “Restricted Stock Unit Award” means an Award granted pursuant to Article XI in the
form of a right to receive shares of Common Stock on a future date.

(aa) “Securities Act” means the Securities Act of 1933, as amended from time to time,
including the rules thereunder and any successor provisions and the rules thereto.

(bb) “Stock Award” means an award granted pursuant to Article X in the form of shares
of Common Stock, restricted shares of Common Stock, and/or units of Common Stock.

(cc) “Subsidiary” means a corporation or other business entity in which Swift directly
or indirectly has an ownership interest of twenty percent (20 %) or more, except that with respect
to incentive stock options, Subsidiary shall mean “subsidiary corporation” as defined in Section
424(f) of the Code.

(dd) “Swift” means Swift Transportation Company, a Delaware corporation, or any
successor thereto (whether by reincorporation, merger, or otherwise) as provided in Section 16.9;
provided, that where context solely requires with respect to periods prior to the Merger,
Swift shall mean Swift Corporation, a Nevada corporation.

Section 2.2 Other Defined Terms. Unless the context otherwise requires, all other
capitalized terms shall have the meanings set forth in the other Articles and Sections of this
Plan.

Section 2.3 Construction. In any necessary construction of a provision of this Plan, the
masculine gender may include the feminine, and the singular may include the plural, and vice versa.

ARTICLE III

ELIGIBILITY

Section 3.1 In General. Subject to Section 3.2 and Article IV, all Employees, Directors,
and Consultants are eligible to participate in the Plan. The Committee may select, from time to
time, Participants from those Employees, Directors, and Consultants.

Section 3.2 Incentive Stock Options. Only Employees shall be eligible to receive
“incentive stock options” (within the meaning of Section 422 of the Code).

 

5

 

ARTICLE IV

PLAN ADMINISTRATION

Section 4.1 Responsibility. The Committee shall have total and exclusive responsibility to
control, operate, manage and administer the Plan in accordance with its terms.

Section 4.2 Authority of the Committee. The Committee shall have all the authority that
may be necessary or helpful to enable it to discharge its responsibilities with respect to the
Plan. Without limiting the generality of the preceding sentence, the Committee shall have the
exclusive right to:

(a) determine eligibility for participation in the Plan;

(b) select the Participants and determine the type of Awards to be made to Participants, the
number of shares subject to Awards and the terms, conditions, restrictions, and limitations of the
Awards, including, but not by way of limitation, restrictions on the transferability of Awards and
conditions with respect to continued employment, performance criteria, confidentiality, and
non-competition;

(c) interpret the Plan;

(d) construe any ambiguous provision, correct any default, supply any omission and reconcile
any inconsistency of the Plan;

(e) issue administrative guidelines as an aid to administer the Plan and make changes in such
guidelines as it from time to time deems proper;

(f) make regulations for carrying out the Plan and make changes in such regulations as it from
time to time deems proper;

(g) to the extent permitted under the Plan, grant waivers of Plan terms, conditions,
restrictions and limitations;

(h) promulgate rules and regulations regarding treatment of Awards of a Participant under the
Plan in the event of such Participant’s death, disability, retirement, termination from the
Company, or breach of agreement by the Participant, or in the event of a change of control of
Swift;

(i) accelerate the vesting, exercise, or payment of an Award or the Performance Period of an
Award when such action or actions would be in the best interest of the Company;

 

6

 

(j) subject to Section 4.3, grant Awards in replacement of Awards previously granted under
this Plan or any other executive compensation plan of the Company;

(k) establish and administer the Performance Goals and certify whether, and to what extent,
they have been attained;

(l) determine the terms and provisions of any agreements entered into hereunder;

(m) take any and all other action it deems necessary or advisable for the proper operation or
administration of the Plan; and

(n) make all other determinations it deems necessary or advisable for the administration of
the Plan, including factual determinations.

The decisions of the Committee and its actions with respect to the Plan shall be final, binding,
and conclusive upon all persons having or claiming to have any right or interest in or under the
Plan.

Section 4.3 Option Repricing. Except for adjustments pursuant to Section 6.2, the
Committee shall not reprice any stock options and/or stock appreciation rights unless such action
is approved by Swift’s stockholders. For purposes of the Plan, the term “reprice” shall mean the
reduction, directly or indirectly, in the per-share exercise price of an outstanding stock
option(s) and/or stock appreciation right(s) issued under the Plan by amendment, cancellation or
substitution.

Section 4.4 Section 162(m) of the Code. Throughout this Plan, certain references are made
to Section 162(m) of the Code. Such provisions shall only apply where Section 162(m) of the Code
is applicable to Swift. With regard to Awards issued to Covered Employees that are intended to
qualify as “performance-based compensation” for purposes of Section 162(m) of the Code, the Plan
shall, for all purposes, be interpreted and construed with respect to such Awards in the manner
that would result in such interpretation or construction satisfying the exemptions available under
Section 162(m) of the Code.

Section 4.5 Action by the Committee. Except as otherwise provided by Section 4.6, the
Committee may act only by a majority of its members. Any determination of the Committee may be
made, without a meeting, by a writing or writings signed by all of the members of the Committee.

Section 4.6 Allocation and Delegation of Authority. Except to the extent prohibited by
applicable law or the rules of a stock exchange or quotation system on which the Common Stock may
be listed, the Committee may allocate all or any portion of its responsibilities and powers under
the Plan to anyone or more of its members, the CEO, or other senior members of management as the
Committee deems appropriate, and may delegate all or any part of its responsibilities and powers to
any such person or persons to the extent such delegation is permitted by applicable law;
provided, that any such allocation or delegation be in writing; provided,
further, that following an Initial Public Offering only the Committee, or other committee
consisting of two or more Directors, all of whom are both “Non-Employee Directors” within the
meaning of Rule 16b-3 under the Exchange Act and “outside directors” within the meaning of the
definition of such term as contained in Treasury Regulation Section 1.162-27(e)(3), or any
successor definition adopted under Section 162(m) of the Code, may select and grant Awards to
Participants who are subject to Section 16 of the Exchange Act or are Covered Employees. The
Committee may revoke any such allocation or delegation at any time for any reason with or without
prior notice.

 

7

 

Section 4.7 Limitation of Liability. No member of the Committee nor any person to whom the
Committee delegates authority pursuant to Section 4.6 shall be liable for any action, omission or
determination relating to the Plan, and the Company shall indemnify and hold harmless each member
of the Committee and each other person to whom any duty or power relating to the administration or
interpretation of the Plan has been delegated from and against any cost or expense (including
attorneys’ fees) or liability (including any sum paid in settlement of a claim with the approval of
the Committee) arising out of any action, omission or determination relating to the Plan unless, in
either case, such action, omission or determination was taken or made by such Committee member or
other person in bad faith and without reasonable belief that it was in the best interests of the
Company.

ARTICLE V

FORM OF AWARDS

Section 5.1 In General. Awards may, at the Committee’s sole discretion, be paid in the
form of Performance Awards pursuant to Article VII, stock options pursuant to Article VIII, stock
appreciation rights pursuant to Article IX, Stock Awards pursuant to Article X, Restricted Stock
Unit Awards pursuant to Article XI, performance units pursuant to Article XII, Cash Incentive
Awards under Article XIII, or a combination thereof. Each Award shall be evidence by a written
award Notice and shall be subject to the terms, conditions, restrictions, and limitations of the
Plan and the Award Notice for such Award. Awards under a particular Article of the Plan need not
be uniform and Awards under two or more Articles may be combined into a single Award Notice. Any
combination of Awards may be granted at one time and on more than one occasion to the same
Participant.

Section 5.2 Foreign Jurisdictions.

(a) Special Terms. In order to facilitate the making of any Award to Participants who
are employed or retained by the Company outside the United States as Employees, Directors, or
Consultants (or who are foreign nationals temporarily within the United States), the Committee may
provide for such modifications and additional terms and conditions (“Special Terms”) in
Awards as the Committee may consider necessary or appropriate to accommodate differences between
United States federal or state laws, rules and regulations and the local laws, policies or customs
that are applicable to such Participants or to facilitate administration of the Plan. The Special
Terms may provide that the grant of an Award is subject to (i) applicable governmental or
regulatory approval or other compliance with local laws, policies or customs that are applicable to
such Participants and/or (ii) the execution by the Participant of a written instrument in the form
specified by the Committee, and that in the event such conditions are not satisfied, the grant
shall be void. The Special Terms may also provide that an Award shall become exercisable or
redeemable, as the case may be, if an Employee’s employment or Director or Consultant’s
relationship with the Company ends as a result of workforce reduction, realignment, or similar
measure and the Committee may designate a person or persons to make such determination for a
location. The Committee may adopt or approve sub-plans, appendices or supplements to, or
amendments, restatements, or alternative versions of, the Plan as it may consider necessary or
appropriate for purposes of implementing any Special Terms, without thereby affecting the terms of
the Plan as in effect for any other purpose; provided, however, no such sub-plans,
appendices or supplements to, or amendments, restatements, or alternative versions of, the Plan
shall: (x) increase the limitations contained in Section 6.3; (y) increase the number of available
shares under Section 6.1; or (z) cause the Plan to cease to satisfy any applicable legal
requirement.

 

8

 

(b) Currency Effects. Unless otherwise specifically determined by the Committee, all
Awards and payments pursuant to such Awards shall be determined in United States currency. The
Committee shall determine, in its discretion, whether and to the extent any payments made pursuant
to an Award shall be made in the Participant’s local currency, as opposed to United States
dollars. In the event payments are made in the Participant’s local currency, the Committee may
determine, in its discretion and without liability to any Participant, the method and rate of
converting the payment into such local currency.

ARTICLE VI

SHARES SUBJECT TO PLAN

Section 6.1 Available Shares. The maximum aggregate number of shares of Common Stock which
shall be available for the grant of Awards under the Plan (including incentive stock options)
during its term shall not exceed twelve million (12,000,000) (the “Share Reserve”). The
Share Reserve shall be subject to adjustment as provided in Section 6.2. Any shares of Common
Stock related to Awards that terminate by expiration, forfeiture, cancellation, or otherwise
without the issuance of such shares, are settled in cash in lieu of Common Stock, or are exchanged
with the Committee’s permission for Awards not involving Common Stock shall be available again for
grant under the Plan. Moreover, if the exercise price of any Award granted under the Plan or the
tax withholding requirements with respect to any Award granted under the Plan are satisfied by
tendering shares of Common Stock to Swift (by either actual delivery or by attestation), only the
number of shares of Common Stock issued net of the shares of Common Stock tendered will be deemed
delivered for purposes of determining the Share Reserve available for delivery under the Plan. The
shares of Common Stock available for issuance under the Plan may be authorized and unissued shares
or treasury shares, including shares purchased in open market or private transactions. For the
purpose of computing the total number of shares of Common Stock granted under the Plan, where one
or more types of Awards, both of which are payable in shares of Common Stock, are granted in tandem
with each other such that the exercise of one type of Award with respect to a number of shares
cancels an equal number of shares of the other, the number of shares granted under both Awards
shall be deemed to be equivalent to the number of shares under one of the Awards.

 

9

 

Section 6.2 Adjustment Upon Certain Events. In the event that there is, with respect to
Swift, a stock dividend or split, reorganization, recapitalization, merger, consolidation, spinoff,
combination, or transaction or exchange of Common Stock or other corporate exchange, or any
distribution to stockholders of Common Stock or other property or securities (other than regular
cash dividends), or any transaction similar to the foregoing or other transaction that results in a
change to Swift’s capital structure, then the Committee shall make substitutions and/or adjustments
to the maximum number of shares available for issuance under the Plan, the maximum Award payable
under Section 6.3, the number of shares to be issued pursuant outstanding Awards, the option
prices, exercise prices or purchase prices of outstanding Awards and/or any other affected terms of
an Award or the Plan as the Committee, in its sole discretion and without liability to any person,
deems equitable or appropriate. Unless the Committee determines otherwise, in no event shall an
Award to any Participant that is intended to qualify as “performance-based compensation” for
purposes of Section 162(m) of the Code be adjusted pursuant, to this Section 6.2 to the extent such
adjustment would cause such Award to fail to qualify as “performance-based compensation” under
Section 162(m) of the Code.

Section 6.3 Maximum Award Payable. Subject to Section 6.2, and notwithstanding any
provision contained in the Plan to the contrary, the maximum number of shares of Common Stock
payable (or granted, if applicable) to any one Participant under the Plan with respect to all
Awards granted to such Participants for a calendar year is eight hundred thousand (800,000) shares
of Common Stock.

ARTICLE VII

PERFORMANCE AWARDS

Section 7.1 Purpose. For purposes of Performance Awards issued to Employees, Directors,
and Consultants that are intended to qualify as “performance-based compensation” for purposes of
Section 162(m) of the Code, the provisions of this Article VII shall apply in addition to and,
where necessary, in lieu of the provisions of Article X, Article XI, Article XII and Article XIII.
The purpose of this Article is to provide the Committee the ability to qualify the Stock Awards
authorized under Article X, the Restricted Stock Unit Awards authorized under Article XI, the
performance units under Article XII and Cash Incentive Awards under Article XIII as
“performance-based compensation” under Section 162(m) of the Code. The provisions of this Article
VII shall control over any contrary provision contained in Article X, Article XI ,Article XII or
Article XIII.

Section 7.2 Eligibility. For each Performance Period, the Committee will, in its sole
discretion, designate within the initial period allowed under Section 162(m) of the Code which
Employees, Directors, and Consultants will be Participants for such period. However, designation
of an Employee, Director, or Consultant as a Participant for a Performance Period shall not in any
manner entitle the Participant to receive an Award for the period. The determination as to whether
or not such Participant becomes entitled to an Award for such Performance Period shall be decided
solely in accordance with the provisions of this Article VII. Moreover, designation of an
Employee, Director, or Consultant as a Participant for a particular Performance Period shall not
require designation of such Employee, Director, or Consultant as a Participant in any subsequent
Performance Period, and designation of one Employee, Director, or Consultant as a Participant shall
not require designation of any other Employee, Director, or Consultant as a Participant in such
period or in any other period.

 

10

 

Section 7.3 Discretion of Committee with Respect to Performance Awards. The Committee
shall have the authority to determine which Covered Employees or other Employees, Directors, or
Consultants shall be Participants of a Performance Award. With regard to a particular Performance
Period, the Committee shall have full discretion to select the length of such Performance Period,
the type(s) of Performance Awards to be issued, the Performance Criteria that will be used to
establish the Performance Goal(s), the kind(s) and/or level(s) of the Performance Goal(s), whether
the Performance Goal(s) is (are) to apply to the Company or any one or more subunits thereof and
the Performance Formula. For each Performance Period, with regard to the Performance Awards to be
issued for such period, the Committee will, within the initial period allowed under Section 162(m)
of the Code, if applicable, exercise its discretion with respect to each of the matters enumerated
in the immediately preceding sentence of this Section 7.3 and record the same in writing.

Section 7.4 Payment of Performance Awards.

(a) Condition to Receipt of Performance Award. Unless otherwise provided in the
relevant Award Notice, a Participant must be employed by the Company on the last day of a
Performance Period to be eligible for a Performance Award for such Performance Period.

(b) Limitation. A Participant shall be eligible to receive a Performance Award for a
Performance Period only to the extent that: (i) the Performance Goals for such period are achieved;
and (ii) the Performance Formula as applied against such Performance Goals determines that all or
some portion of such Participant’s Performance Award has been earned for the Performance Period.

(c) Certification. Following the completion of a Performance Period, the Committee
shall meet to review and certify in writing whether, and to what extent, the Performance Goals for
the Performance Period have been achieved and, if so, to also calculate and certify in writing the
amount of the Performance Awards earned for the period based upon the Performance Formula. The
Committee shall then determine the actual size of each Participant’s Performance Award for the
Performance Period and, in so doing, shall apply Negative Discretion, if and when it deems
appropriate.

(d) Negative Discretion. In determining the actual size of an individual Performance
Award for a Performance Period, the Committee may reduce or eliminate the amount of the Performance
Award earned under the Performance Formula for the Performance Period through the use of Negative
Discretion, if in its sole judgment, such reduction or elimination is appropriate.

(e) Timing of Award Payments. The Awards granted for a Performance Period shall be
paid to Participants as soon as administratively practicable following completion of the
certifications required by Section 7.4(c).

 

11

 

ARTICLE VIII

STOCK OPTIONS

Section 8.1 In General. Awards may be granted in the form of stock options. These stock
options may be incentive stock options within the meaning of Section 422 of the Code or
non-qualified stock options (i.e., stock options which are not incentive stock options), or a
combination of both. All Awards under the Plan issued to Covered Employees in the form of
non-qualified stock options shall qualify as “performance-based compensation” under Section 162(m)
of the Code, if such section is applicable to Swift.

Section 8.2 Terms and Conditions of Stock Options. An option shall be exercisable in
accordance with such terms and conditions and at such times and during such periods as may be
determined by the Committee. The price at which Common Stock may be purchased upon exercise of a
stock option shall be not less than one hundred percent (100%) of the Fair Market Value of the
Common Stock, as determined by the Committee, on the effective date of the option’s grant (or such
greater exercise price required by the Code or other applicable law or the rules of a stock
exchange or quotation system on which the Common Stock may be listed). In addition, the term of a
stock option may not exceed ten (10) years (or such shorter term required by the Code or other
applicable law or the rules of a stock exchange or quotation system on which the Common Stock may
be listed).

Section 8.3 Restrictions Relating to Incentive Stock Options. Stock options issued in the
form of incentive stock options shall, in addition to being subject to the terms and conditions of
Section 8.2, comply with Section 422 of the Code. Accordingly, the aggregate Fair Market Value
(determined at the time the option was granted) of the Common Stock with respect to which incentive
stock options are exercisable for the first time by a Participant during any calendar year (under
this Plan or any other plan of the Company) shall not exceed $100,000 (or such other limit as may
be required by Section 422 of the Code).

Section 8.4 Exercise. Upon exercise, the option price of a stock option may be paid in
cash, or, to the extent permitted by the Committee, by tendering, by either actual delivery of
shares or by attestation, shares of Common Stock, a combination of the foregoing, or such other
consideration as the Committee may deem appropriate. The Committee shall establish appropriate
methods for accepting Common Stock, whether restricted or unrestricted, and may impose such
conditions as it deems appropriate on the use of such Common Stock to exercise a stock option.
Stock options awarded under the Plan may also be exercised by way of a broker-assisted stock option
exercise program, if any, provided such program is available at the time of the option’s exercise.
Notwithstanding the foregoing or the provision of any Award Notice, a Participant may not pay the
exercise price of a stock option using shares of Common Stock if, in the opinion of counsel to
Swift, (a) there is a substantial likelihood that the use of such form of payment or the timing of
such form of payment would subject the Participant to a substantial risk of liability under Section
16 of the Exchange Act or (b) there is a substantial likelihood that the use of such form of
payment would result in accounting treatment to the Company under generally accepted accounting
principles that the Committee reasonably determines is adverse to the Company.

 

12

 

ARTICLE IX

STOCK APPRECIATION RIGHTS

Section 9.1 In General. Awards may be granted in the form of stock appreciation rights
(“SARs”). SARs entitle the Participant to receive a payment equal to the appreciation in a
stated number of shares of Common Stock from the exercise price to the Fair Market Value of the
Common Stock on the date of exercise. The “exercise price” for a particular SAR shall be defined
in the Award Notice for that SAR. An SAR may be granted in tandem with all or a portion of a
related stock option under the Plan (“Tandem SARs”), or may be granted separately
(“Freestanding SARs”). A Tandem SAR may be granted either at the time of the grant of the
related stock option or at any time thereafter during the term of the stock option. All Awards
under the Plan issued to Covered Employees in the form of a SAR shall qualify as “performance-based
compensation” under Section 162(m) of the Code.

Section 9.2 Terms and Conditions of Tandem SARs. A Tandem SAR shall be exercisable to the
extent, and only to the extent, that the related stock option is exercisable, and the “exercise
price” of such an SAR (the base from which the value of the SAR is measured at its exercise) shall
be the option price under the related stock option. However, at no time shall a Tandem SAR be
issued if the option price of its related stock option is less than the Fair Market Value of the
Common Stock, as determined by the Committee, on the effective date of the Tandem SAR’s grant. If
a related stock option is exercised as to some or all of the shares covered by the Award, the
related Tandem SAR, if any, shall be canceled automatically to the extent of the number of shares
covered by the stock option exercise. Upon exercise of a Tandem SAR as to some or all of the
shares covered by the Award, the related stock option shall be canceled automatically to the extent
of the number of shares covered by such exercise. Moreover, all Tandem SARs shall expire not later
than the expiration date of the related stock options.

Section 9.3 Terms and Conditions of Freestanding SARs. Freestanding SARs shall be
exercisable or automatically mature in accordance with such terms and conditions and at such times
and during such periods as may be determined by the Committee. The exercise price of a
Freestanding SAR shall be not less than one hundred percent (100%) of the Fair Market Value of the
Common Stock on the effective date of the Freestanding SAR’s grant. Moreover, all Freestanding
SARs shall expire not later than ten (10) years from the effective date of the Freestanding SAR’s
grant.

Section 9.4 Deemed Exercise. The Committee may provide that an SAR shall be deemed to be
exercised at the close of business on the scheduled expiration date of such SAR if at such time the
SAR by its terms remains exercisable and, if so exercised, would result in a payment to the holder
of such SAR.

Section 9.5 Payment. Unless otherwise provided in an Award Notice, an SAR may be paid in
cash, Common Stock or any combination thereof, as determined by the Committee, in its sole and
absolute discretion, at the time that the SAR is exercised.

 

13

 

ARTICLE X

STOCK AWARDS

Section 10.1 Grants. Awards may be granted in the form of Stock Awards. Stock Awards
shall be awarded in such numbers and at such times during the term of the Plan as the Committee
shall determine.

Section 10.2 Performance Criteria. For Stock Awards conditioned, restricted, and/or
limited based on Performance Goals, the length of the Performance Period, the Performance Goals to
be achieved during the Performance Period, and the measure of whether and to what degree such
Performance Goals have been attained shall be conclusively determined by the Committee in the
exercise of its absolute discretion. Performance Goals may be revised by the Committee, at such
times as it deems appropriate during the Performance Period, in order to take into consideration
any unforeseen events or changes in circumstances.

Section 10.3 Rights as Stockholders. During the period in which any restricted shares of
Common Stock are subject to any restrictions, the Committee may, in its sole discretion, deny a
Participant to whom such restricted shares have been awarded all or any of the rights of a
stockholder with respect to such shares, including, but not by way of limitation, limiting the
right to vote such shares or the right to receive dividends on such shares.

Section 10.4 Evidence of Award. Any Stock Award granted under the Plan may be evidenced in
such manner as the Committee deems appropriate, including, without limitation, book-entry
registration or issuance of a stock certificate or certificates, with such restrictive legends
and/or stop transfer instructions as the Committee deems appropriate.

ARTICLE XI

RESTRICTED STOCK UNIT AWARDS

Section 11.1 Grants. Awards may be granted in the form of Restricted Stock Unit Awards.
Restricted Stock Unit Awards shall be awarded in such numbers and at such times during the term of
the Plan as the Committee shall determine.

Section 11.2 Rights as Stockholders. Until the shares of Common Stock to be received upon
the vesting of such Restricted Stock Unit Award are actually received by a Participant, the
Participant shall have no rights as a stockholder with respect to such shares.

Section 11.3 Evidence of Award. A Restricted Stock Unit Award granted under the Plan may
be recorded on the books and records of Swift in such manner as the Committee deems appropriate.

 

14

 

ARTICLE XII

PERFORMANCE UNITS

Section 12.1 Grants. Awards may be granted in the form of performance units. Performance
units, as that term is used in this Plan, shall refer to units valued by reference to designated
criteria established by the Committee, other than Common Stock.

Section 12.2 Performance Criteria. Performance units shall be contingent on the attainment
during a Performance Period of certain Performance Goals. The length of the Performance Period,
the Performance Goals to be achieved during the Performance Period, and the measure of whether and
to what degree such Performance Goals have been attained shall be conclusively determined by the
Committee in the exercise of its absolute discretion. Performance Goals may be revised by the
Committee, at such times as it deems appropriate during the Performance Period, in order to take
into consideration any unforeseen events or changes in circumstances.

ARTICLE XIII

CASH AWARDS

Section 13.1 Grants. The Committee, in its absolute discretion, may grant an Award
payable in cash (each, a “Cash Incentive Award”) in such amounts as it shall determine from time to
time. A Cash Incentive Award may be granted (a) as a separate Award, (b) in connection with the
grant, issuance, vesting, exercise, or payment of another Award under the Plan or at any time
thereafter, or (c) to the extent permitted under Section 409A of the Code, on or after the date on
which the Participant is required to recognize income for federal income tax purposes in connection
with the grant, issuance, vesting, exercise, or payment of another Award under the Plan.

Section 13.2 Performance Awards. Cash Incentive Awards shall be subject to such
terms, conditions, and limitations as the Committee shall determine on the date of grant of such
Cash Incentive Award. Cash Incentive Awards intended to qualify as “performance-based
compensation” under Code Section 162(m) shall be subject to the same terms and conditions described
in Article VII.

Section 13.3 Limitation on Awards. The amount of a Cash Incentive Award shall be
limited in amount to no more than $4 million per annum for the Chief Executive Officer and no more
than $2 million per annum for any other Covered Employee.

 

15

 

ARTICLE XIV

PAYMENT OF AWARDS

Section 14.1 Payment. Absent a Plan or Award Notice provision to the contrary, payment of
Awards may, at the discretion of the Committee, be made in cash, Common Stock, a combination of
cash and Common Stock, or any other form of property as the Committee shall determine. In
addition, payment of Awards may include such terms, conditions, restrictions, and/or limitations,
if any, as the Committee deems appropriate, including, in the case of Awards paid in the form of
Common Stock, restrictions on transfer and forfeiture provisions; provided,
however, such terms, conditions, restrictions, and/or limitations are not inconsistent with
the Plan.

Section 14.2 Withholding Taxes. The Company shall be entitled to deduct from any payment
under the Plan, regardless of the form of such payment, the amount of all applicable income and
employment taxes required by law to be withheld with respect to such payment or may require the
Participant to pay to it the amount of such tax prior to and as a condition of the making of such
payment. In accordance with any applicable administrative guidelines it establishes, the Committee
may allow a Participant to pay the amount of taxes required by law to be withheld from an Award by
withholding from any payment of Common Stock due as a result of such Award, or by permitting the
Participant to deliver to Swift, shares of Common Stock having a Fair Market Value equal to the
minimum amount of such required withholding taxes. Notwithstanding the foregoing or the provision
of any Award Notice, a Participant may not pay the amount of taxes required by law to be withheld
using shares of Common Stock if, in the opinion of counsel to Swift, (a) there is a substantial
likelihood that the use of such form of payment or the timing of such form of payment would subject
the Participant to a substantial risk of liability under Section 16 of the Exchange Act, or (b)
there is a substantial likelihood that the use of such form of payment would result in accounting
treatment to the Company under generally accepted accounting principles that the Committee
reasonably determines is adverse to the Company.

ARTICLE XV

DIVIDEND AND DIVIDEND EQUIVALENTS

If an Award is granted in the form of a Stock Award or stock option, or in the form of any
other stock-based grant, the Committee may choose, at the time of the grant of the Award or any
time thereafter up to the time of the Award’s payment, to include as part of such Award an
entitlement to receive dividends or dividend equivalents, subject to such terms, conditions,
restrictions, and/or limitations, if any, as the Committee may establish. Dividends and dividend
equivalents shall be paid in such form and manner (i.e., lump sum or installments), and at such
time(s) as the Committee shall determine. All dividends or dividend equivalents which are not paid
currently may, at the Committee’s discretion, accrue interest, be reinvested into additional shares
of Common Stock or, in the case of dividends or dividend equivalents credited in connection with
Stock Awards, be credited as additional Stock Awards and paid to the Participant if and when, and
to the extent that, payment is made pursuant to such Award.

 

16

 

ARTICLE XVI

MISCELLANEOUS

Section 16.1 Nonassignability. Except as otherwise provided in an Award Notice, no Awards
or any other payment under the Plan shall be subject in any manner to alienation, anticipation,
sale, transfer (except by will or the laws of descent and distribution), assignment, or pledge, nor
shall any Award be payable to or exercisable by anyone other than the Participant to whom it was
granted.

Section 16.2 Regulatory Approvals and Listings. Notwithstanding anything contained in this
Plan to the contrary, Swift shall have no obligation to issue or deliver certificates of Common
Stock evidencing Stock Awards or any other Award resulting in the payment of Common Stock prior to
(a) the obtaining of any approval from any governmental agency which Swift shall, in its sole
discretion, determine to be necessary or advisable, (b) the admission of such shares to listing on
the stock exchange or quotation system on which the Common Stock may be listed, and (c) the
completion of any registration or other qualification of said shares under any state or federal law
or ruling of any governmental body which Swift shall, in its sole discretion, determine to be
necessary or advisable.

Section 16.3 No Right to Continued Employment or Grants. Participation in the Plan shall
not give any Participant the right to remain in the employ or other service of the Company. The
Company reserves the right to terminate the employment or other service of a Participant at any
time. Further, the adoption of this Plan shall not be deemed to give any Employee, Director, or
any other individual any right to be selected as a Participant or to be granted an Award. In
addition, no Employee, Director, or any other individual having been selected for an Award, shall
have at any time the right to receive any additional Awards.

Section 16.4 Amendment/Termination. The Plan shall terminate and expire on the tenth
anniversary of the Effective Date; provided, however, the Committee may suspend or
terminate the Plan at any time for any reason with or without prior notice. In addition, the
Committee may, from time to time for any reason and with or without prior notice, amend the Plan in
any manner, but may not without stockholder approval adopt any amendment which would require the
vote of the stockholders of Swift if such approval is necessary or deemed advisable with respect to
tax, securities, or other applicable laws or regulations, including, but not limited to, the
listing requirements of the stock exchanges or quotation systems on which the securities of Swift
are listed. Notwithstanding the foregoing, without the consent of a Participant (except as
otherwise provided in Section 6.2), no amendment may materially and adversely affect any of the
rights of such Participant under any Award theretofore granted to such Participant under the Plan.

 

17

 

Section 16.5 Effect of Initial Public Offering and Change in Control. The effect of an
Initial Public Offering or a Change in Control (as defined in the Award Notice) shall be as set
forth in the applicable Award Notice. For the avoidance of doubt, (a) in no event shall an Initial
Public Offering be deemed a Change in Control or a Sale (as defined in the Award Notice), (b) upon
and following the Initial Public Offering, all options which are or become vested shall become
exercisable upon such applicable vesting date and (c) no Change in Control shall be deemed to have
occurred solely by reason of a change in the composition of the Board as long as the following
individuals do not cease for any reason to constitute a majority of the number of directors then
serving: (i) the individuals who, on the Effective Date, constitute the Board and (ii) any new
director (other than a director whose initial assumption of office is in connection with an actual
or threatened election contest, including but not limited to a consent solicitation, relating to
the election of directors of Swift) whose appointment or election by the Board or nomination for
election by Swift’s stockholders was approved or recommended by a vote of at least three-fourths
(3/4) of the directors then still in office who either were directors on the Effective Date or
whose appointment, election or nomination for election was previously so approved or recommended.

Section 16.6 Governing Law. The Plan shall be governed by and construed in accordance with
the laws of the State of Delaware, except as superseded by applicable federal law, without giving
effect to its conflicts of law provisions.

Section 16.7 No Right, Title, or Interest in Company Assets. No Participant shall have any
rights as a stockholder as a result of participation in the Plan until the date of issuance of a
stock certificate in his or her name, and, in the case of restricted shares of Common Stock, such
rights are granted to the Participant under the Plan. To the extent any person acquires a right to
receive payments from the Company under the Plan, such rights shall be no greater than the rights
of an unsecured creditor of the Company and the Participant shall not have any rights in or against
any specific assets of the Company. All of the Awards granted under the Plan shall be unfunded.

Section 16.8 No Guarantee of Tax Consequences. No person connected with the Plan in any
capacity, including, but not limited to, the Company and its directors, officers, agents, and
employees, makes any representation, commitment, or guaranty that any tax treatment, including, but
not limited to, federal, state, and local income, estate, and gift tax treatment, will be
applicable with respect to the tax treatment of any Award, any amounts deferred under the Plan, or
paid to or for the benefit of a Participant under the Plan, or that such tax treatment will apply
to or be available to a Participant on account of participation in the Plan.

Section 16.9 Successors. All obligations of the Company under this Plan with respect to
Awards granted hereunder shall be binding on any successor to Swift, whether the existence of such
successor is the result of a direct or indirect purchase, merger, consolidation, reincorporation,
or otherwise, of all or substantially all of the business and/or assets of the Company.

 

18

 

Section 16.10 Code Section 409A. The intent of the parties is that payments and benefits
under this Plan comply with Section 409A of the Code, to the extent subject thereto, and
accordingly, to the maximum extent permitted, this Plan shall be interpreted and administered to be
in compliance therewith. Notwithstanding anything contained herein to the contrary, to the extent
required in order to avoid accelerated taxation and/or tax penalties under Section 409A of the
Code, a Participant shall not be considered to have terminated employment with the Company for
purposes of this Plan unless the Participant would be considered to have incurred a “separation
from service” from the Company within the meaning of Section 409A of the Code. Each amount to be
paid or benefit to be provided under this Plan shall be construed as a separate identified payment
for purposes of Section 409A of the Code, and any payments described in this Plan that are due
within the “short term deferral period” as defined in Section 409A of the Code shall not be treated
as deferred compensation unless applicable law requires otherwise. Without limiting the foregoing
and notwithstanding anything contained herein to the contrary, to the extent required in order to
avoid accelerated taxation and/or tax penalties under Section 409A of the Code, amounts that would
otherwise be payable and benefits that would otherwise be provided pursuant to this Plan during the
six-month period immediately following a Participant’s separation from service shall instead be
paid on the first business day after the date that is six months following the Participant’s
separation from service (or death, if earlier). The Plan and any Award Notices issued thereunder
may be amended in any respect deemed by the Board or the Committee to be necessary in order to
preserve compliance with, or exemption from, Section 409A of the Code.

Section 16.11 Plan Not Exclusive. This Plan is not intended to be the exclusive means by
which the Company may issue options, warrants, or other rights to acquire shares of Common Stock.

Section 16.12 Unfunded Plan. This Plan shall be unfunded. Although bookkeeping accounts
may be established with respect to Participants under this Plan, any such accounts shall be used
merely as a bookkeeping convenience, including bookkeeping accounts established by a third party
administrator retained by the Company to administer the Plan. The Company shall not be required to
segregate any assets for purposes of this Plan or Awards made hereunder, nor shall the Company, the
Board or the Committee be deemed to be a trustee of any benefit to be granted under this Plan. Any
liability or obligation of the Company to any Participant with respect to an Award under this Plan
shall be based solely upon any contractual obligations that may be created by this Plan and any
Award Notice, and no such liability or obligation of the Company shall be deemed to be secured by
any pledge or other encumbrance on any property of the Company. Neither the Company nor the Board
nor the Committee shall be required to give any security or bond for the performance of any
obligation that may be created by this Plan.

 

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