Document:

Exhibit 10.6 (b) Second Amendment 401(K) Savings Plan

Exhibit
10.6 (b)

 

SECOND
AMENDMENT TO THE

 

FROZEN
FOOD EXPRESS INDUSTRIES, INC. 401(K) SAVINGS PLAN

 

This
Amendment is adopted by FROZEN
FOOD EXPRESS INDUSTRIES, INC. (the
“Company”), a Texas Corporation, having its principal office in Dallas,
Texas.

 

R
e c i t a l s:

 

WHEREAS, the
Company has previously established the Frozen Food Express Industries,
Inc. 401(k)
Savings Plan, as amended and restated, effective January 1, 2001 (the “Plan”),
for the benefit of those employees who qualify thereunder and for their
beneficiaries; and

 

WHEREAS, the
Company desires to amend the Plan to provide, effective November 12, 2003, that
upon attainment of age fifty-five (55) years and completion of ten (10) Years of
Service, a Participant may diversify up to twenty-five percent (25%) of amounts
in his ESOP Accounts, reduced by amounts previously diversified;
and

 

WHEREAS, the
Company desires to further amend the Plan to provide, effective November 12,
2003, that upon attainment of age sixty (60) years and completion of ten (10)
Years of Service, a Participant may diversify up to fifty percent (50%) of
amounts in his ESOP Accounts, reduced by amounts previously
diversified;

 

NOW,
THEREFORE,
pursuant to Section 15.1 of the Plan, Section 13.7 of the Plan is amended and
restated in its entirety to read as follows, effective November 12,
2003:

 

“Section
13.7 Partial
Diversification of
Investment. 

 

Any
Employee who has completed at least ten (10) Years of Service and has attained
age fifty-five (55) years (a “Qualified Participant”) may elect at any time to
direct the Trustee on the investment of: (a) not more than twenty-five percent
(25%) of the Qualified Participant's ESOP Accounts (excluding accumulated
employee contributions) as of the date of election, reduced by amounts
previous-ly diversified; and (b) upon attaining age sixty (60) years, not more
than fifty percent (50%) of the Qualified Participant's ESOP Accounts (excluding
accumulated employee contributions) as of the date of election, reduced by
amounts previously diversified.

The
Trustee shall complete diversification of a Qualified Participant's investment
in accordance with a Qualified Participant's election as soon as practicable
following receipt of the election. The Trustee shall satisfy this requirement:
(i) by distributing to the Participant an amount equal to the amount for which
the Participant elected diversification; or (ii) by substituting for the amount
of the Company Stock for which the Participant elected diversification an
equivalent amount of participant-directed investments in other Investment Funds
offered in the Plan pursuant to Article 7.”

 

IN
WITNESS WHEREOF, FROZEN
FOOD EXPRESS INDUSTRIES, INC. has
caused this Second Amendment to be executed and effective as of November 12,
2003, by the undersigned duly appointed and authorized officer.

FROZEN
FOOD EXPRESS INDUSTRIES, INC.

 

By:
/s/
Stoney M. Stubbs, Jr.

 

Name:
Stoney M. Stubbs, Jr.

 

Title:
Chairman of the BoardExhibit 10.6 (c) Third Amendment 401 (k) Saving Plan

Exhibit
10.6 (c)

 

THIRD
AMENDMENT TO THE

 

FROZEN
FOOD EXPRESS INDUSTRIES, INC. 401(K) SAVINGS PLAN

 

This
Amendment is adopted by FROZEN
FOOD EXPRESS INDUSTRIES, INC. (the
“Company”), a Texas Corporation, having its principal office in Dallas,
Texas.

 

R
e c i t a l s:

 

WHEREAS, the
Company has previously established the Frozen Food Express Industries,
Inc. 401(k)
Savings Plan, as amended and restated, effective January 1, 2001 (the “Plan”),
for the benefit of those employees who qualify thereunder and for their
beneficiaries; and

 

WHEREAS,
in
accordance with Revenue Procedure 2002-29, the Company desires to adopt a model
amendment as the Third Amendment to the Plan in order to ensure the Plan’s
compliance with final regulations adopted with respect to required minimum
distributions under section 401(a)(9) of the Internal Revenue Code of 1986, as
amended (the “Code”);

 

NOW,
THEREFORE,
pursuant to Section 15.1 of the Plan, the Plan is hereby amended as follows,
effective January 1 , 2003:

 

“Model
Plan Amendment for Final Regulations Relating to 

Internal
Revenue Code Section 401(a)(9)

 

Section
1. General
Rules.

 

 

	
      1.1.
	
      Effective
      Date.
      The provisions of this amendment will apply for purposes of determining
      required minimum distributions for calendar years beginning with the 2003
      calendar year. 

 

 

	
      1.2.
	
      Precedence.
      The requirements of this amendment will take precedence over any
      inconsistent provisions of the plan. 

 

 

	
      1.3.
	
      Requirements
      of Treasury Regulations Incorporated.
      All distributions required under this amendment will be determined and
      made in accordance with the Treasury regulations under section
      401(a)(9) of the Internal Revenue Code. 

 

 

	
      1.4.
	
      TEFRA
      Section
      242(b)(2) Elections.
      Notwithstanding the other provisions of this amendment, distributions may
      be made under a designation made before January 1, 1984, in accordance
      with section
      242(b)(2) of the Tax Equity and Fiscal Responsibility Act (TEFRA) and the
      provisions of the plan that relate to section
      242(b)(2) of TEFRA. 

 

 

Section
2. Time
and Manner of Distribution.

 

 

	
      2.1.
	
      Required
      Beginning Date.
      The participant's entire interest will be distributed, or begin to be
      distributed, to the participant no later than the participant's required
      beginning date. 

 

 

	
      2.2.
	
      Death
      of Participant Before Distributions Begin.
      If the participant dies before distributions begin, the participant's
      entire interest will be distributed, and begin to be distributed, no later
      than as follows: 

 

	 	
      (a)
	
      If
      the participant's surviving spouse is the participant's sole designated
      beneficiary, then distributions to the surviving spouse will begin by
      December 31 of the calendar year immediately following the calendar year
      in which the participant died, or by December 31 of the calendar year in
      which the participant would have attained age 701⁄2, if later.
    

	 	
      (b)
	
      If
      the participant's surviving spouse is not the participant's sole
      designated beneficiary, then distributions to the designated beneficiary
      will begin by December 31 of the calendar year immediately following the
      calendar year in which the participant died.

	 	
      (c)
	
      If
      there is no designated beneficiary as of September 30 of the year
      following the year of the participant's death, the participant's entire
      interest will be distributed by December 31 of the calendar year
      containing the fifth anniversary of the participant's death.
    

	 	
      (d)
	
      If
      the participant's surviving spouse is the participant's sole designated
      beneficiary and the surviving spouse dies after the participant but before
      distributions to the surviving spouse begin, this section 2.2, other than
      section 2.2(a), will apply as if the surviving spouse were the
      participant. 

 

For
purposes of this section 2.2 and section
4, unless section 2.2(d) applies, distributions are considered to begin on the
participant's required beginning date. If section 2.2(d) applies, distributions
are considered to begin on the date distributions are required to begin to the
surviving spouse under section 2.2(a). If distributions under an annuity
purchased from an insurance company irrevocably commence to the participant
before the participant's required beginning date (or to the participant's
surviving spouse before the date distributions are required to begin to the
surviving spouse under section 2.2(a)), the date distributions are considered to
begin is the date distributions actually commence. 

 

 

	
      2.3.
	
      Forms
      of Distribution.
      Unless the participant's interest is distributed in the form of an annuity
      purchased from an insurance company or in a single sum on or before the
      required beginning date, as of the first distribution calendar year
      distributions will be made in accordance with sections
      3 and 4
      of this amendment. If the participant's interest is distributed in the
      form of an annuity purchased from an insurance company, distributions
      thereunder will be made in accordance with the requirements of
      section
      401(a)(9) of the Code and the Treasury regulations.

 

 

Section
3. Required
Minimum Distributions During Participant's Lifetime.

 

 

	
      3.1.
	
      Amount
      of Required Minimum Distribution For Each Distribution Calendar
      Year.
      During the participant's lifetime, the minimum amount that will be
      distributed for each distribution calendar year is the lesser of:
      

 

	 	
      (a)
	
      the
      quotient obtained by dividing the participant's account balance by the
      distribution period in the Uniform Lifetime Table set forth in
      section
      1.401(a)(9)-9 of the Treasury regulations, using the participant's age as
      of the participant's birthday in the distribution calendar year; or
      

	 	
      (b)
	
      if
      the participant's sole designated beneficiary for the distribution
      calendar year is the participant's spouse, the quotient obtained by
      dividing the participant's account balance by the number in the Joint and
      Last Survivor Table set forth in section
      1.401(a)(9)-9 of the Treasury regulations, using the participant's and
      spouse's attained ages as of the participant's and spouse's birthdays in
      the distribution calendar year. 

 

	
      3.2.
	
      Lifetime
      Required Minimum Distributions Continue Through Year of Participant's
      Death.
      Required minimum distributions will be determined under this section
      3 beginning with the first distribution calendar year and up to and
      including the distribution calendar year that includes the participant's
      date of death.

 

 

Section
4. Required
Minimum Distributions After Participant's Death.

 

 

4.1. Death
On or After Date Distributions Begin.

 

	 	
      (a)
	
      Participant
      Survived by Designated Beneficiary.
      If the participant dies on or after the date distributions begin and there
      is a designated beneficiary, the minimum amount that will be distributed
      for each distribution calendar year after the year of the participant's
      death is the quotient obtained by dividing the participant's account
      balance by the longer of the remaining life expectancy of the participant
      or the remaining life expectancy of the participant's designated
      beneficiary, determined as follows: 

	 	
      (1)
	
      The
      participant's remaining life expectancy is calculated using the age of the
      participant in the year of death, reduced by one for each subsequent year.
      

	 	
      (2)
	
      If
      the participant's surviving spouse is the participant's sole designated
      beneficiary, the remaining life expectancy of the surviving spouse is
      calculated for each distribution calendar year after the year of the
      participant's death using the surviving spouse's age as of the spouse's
      birthday in that year. For distribution calendar years after the year of
      the surviving spouse's death, the remaining life expectancy of the
      surviving spouse is calculated using the age of the surviving spouse as of
      the spouse's birthday in the calendar year of the spouse's death, reduced
      by one for each subsequent calendar year. 

(3) If the
participant's surviving spouse is not the participant's sole designated
beneficiary, the designated beneficiary's remaining life expectancy is
calculated using the age of the beneficiary in the year following the year of
the participant's death, reduced by one for each subsequent year. 

	 	
      (b)
	
      No
      Designated Beneficiary.
      If the participant dies on or after the date distributions begin and there
      is no designated beneficiary as of September 30 of the year after the year
      of the participant's death, the minimum amount that will be distributed
      for each distribution calendar year after the year of the participant's
      death is the quotient obtained by dividing the participant's account
      balance by the participant's remaining life expectancy calculated using
      the age of the participant in the year of death, reduced by one for each
      subsequent year. 

 

4.2. Death
Before Date Distributions Begin.

 

	 	
      (a)
	
      Participant
      Survived by Designated Beneficiary.
      If the participant dies before distributions begin and there is a
      designated beneficiary, the participant’s entire interest will be
      distributed, and begin to be distributed, to the designated beneficiary by
      December 31 of the calendar year containing the fifth anniversary of the
      participant’s death. If the participant’s surviving spouse is the
      participant’s sole designated beneficiary and the surviving spouse dies
      after the participant but before distributions to either the participant
      or the surviving spouse begin, this paragraph will apply as if the
      surviving spouse were the participant. 

	 	
      (b)
	
      No
      Designated Beneficiary.
      If the participant dies before the date distributions begin and there is
      no designated beneficiary as of September 30 of the year following the
      year of the participant's death, distribution of the participant's entire
      interest will be completed by December 31 of the calendar year containing
      the fifth anniversary of the participant's death.

	 	
      (c)
	
      Death
      of Surviving Spouse Before Distributions to Surviving Spouse Are Required
      to Begin.
      If the participant dies before the date distributions begin, the
      participant's surviving spouse is the participant's sole designated
      beneficiary, and the surviving spouse dies before distributions are
      required to begin to the surviving spouse, this section 4.2 will apply as
      if the surviving spouse were the participant.

 

Section
5. Definitions.

 

 

	
      5.1.
	
      Designated
      beneficiary.
      The individual who is designated as the beneficiary under section 8.1 of
      the plan and is the designated beneficiary under section
      401(a)(9) of the Internal Revenue Code and section
      1.401(a)(9)-1, Q&A-4, of the Treasury regulations.

 

 

	
      5.2.
	
      Distribution
      calendar year. A
      calendar year for which a minimum distribution is required. For
      distributions beginning before the participant's death, the first
      distribution calendar year is the calendar year immediately preceding the
      calendar year which contains the participant's required beginning date.
      For distributions beginning after the participant's death, the first
      distribution calendar year is the calendar year in which distributions are
      required to begin under section 2.2. The required minimum distribution for
      the participant's first distribution calendar year will be made on or
      before the participant's required beginning date. The required minimum
      distribution for other distribution calendar years, including the required
      minimum distribution for the distribution calendar year in which the
      participant's required beginning date occurs, will be made on or before
      December 31 of that distribution calendar year.

 

 

	
      5.3.
	
      Life
      expectancy.
      Life expectancy as computed by use of the Single Life Table in
      section
      1.401(a)(9)-9 of the Treasury regulations. 

 

 

	
      5.4.
	
      Participant's
      account balance.
      The account balance as of the last valuation date in the calendar year
      immediately preceding the distribution calendar year (valuation calendar
      year) increased by the amount of any contributions made and allocated or
      forfeitures allocated to the account balance as of dates in the valuation
      calendar year after the valuation date and decreased by distributions made
      in the valuation calendar year after the valuation date. The account
      balance for the valuation calendar year includes any amounts rolled over
      or transferred to the plan either in the valuation calendar year or in the
      distribution calendar year if distributed or transferred in the valuation
      calendar year. 

 

 

5.5 Required
beginning date. The
date specified in section 8.3(c) of the plan.” 

 

 

IN
WITNESS WHEREOF, FROZEN
FOOD EXPRESS INDUSTRIES, INC. has
caused this Third Amendment to be executed on December 30, 2003, by the
undersigned duly appointed and authorized officer, effective as of January 1,
2003.

FROZEN
FOOD EXPRESS INDUSTRIES, INC.

 

By:
/s/
Stoney M. Stubbs, Jr.

 

Name:
Stoney M. Stubbs, Jr.

 

Title:
Chairman, President and CEO

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