Document:

ex10-3.htm

    Exhibit
10.3

    

     

    SUMMARY
OF COMPENSATION ARRANGEMENTS WITH NAMED EXECUTIVE OFFICERS

     

    On
October 28, 2009, the Executive Compensation Committee of J.B. Hunt Transport
Services, Inc. (the “Company”) approved the following base salaries for David
Mee, Craig Harper and Paul Bergant.  Also, on October 28, 2009, the
Compensation Committee of the Company recommended and independent members of the
Board of Directors approved the following base salaries for Wayne Garrison and
Kirk Thompson.  All base salaries were effective as of October 30,
2009.  The Compensation Committee approved the following other
compensation amounts (effective January 1, 2010) as indicated:

     

    
      	
              

                Named Executive Officer

              

            	 	
              
                Base

                Salary

              

            	 	 	
              
                
                  Bonus

                  ($)

                

              

            	 	 	
              
                
                  All
      Other

                  Compensation
      ($)

                

              

            	 
	 
      	 	 	 	 	 	 	 	 	 
	
              Wayne
      Garrison

            	 	 	 	 	 	 	 	 	 
	
              Chairman
      of the Board

            	 	$	530,000	 	 	 	(1	)	 	 	(2	)
	 
      	 	 	 	 	 	 	 	 	 	 	 	 
	
              Kirk
      Thompson

            	 	 	 	 	 	 	 	 	 	 	 	 
	
              President
      and CEO

            	 	$	695,000	 	 	 	(1	)	 	 	(2	)
	 
      	 	 	 	 	 	 	 	 	 	 	 	 
	
              David
      Mee

            	 	 	 	 	 	 	 	 	 	 	 	 
	
              EVP,
      Finance/Administration
      and CFO

            	 	$	287,400	 	 	 	(1	)	 	 	(2	)
	 
      	 	 	 	 	 	 	 	 	 	 	 	 
	
              Craig
      Harper

            	 	 	 	 	 	 	 	 	 	 	 	 
	
              EVP,
      Operations and COO

            	 	$	360,000	 	 	 	(1	)	 	 	(2	)
	 
      	 	 	 	 	 	 	 	 	 	 	 	 
	
              Paul
      Bergant

            	 	 	 	 	 	 	 	 	 	 	 	 
	
              EVP,
      Marketing, CMO, President of JBI

            	 	$	345,000	 	 	 	(1	)	 	 	(2	)

    

    

    

    
      	
              (1)

            	
              The
      Company has a performance-based bonus program that is related to the
      Company’s earnings per share (EPS) for calendar year
      2010.  According to the 2010 EPS bonus plan, each of the
      Company’s named executive officers may earn a bonus ranging from zero to
      220% of his annual base salary.  Based on the Company’s current
      expectations for 2010 EPS, each named executive officer can be projected
      to earn a bonus equal to between zero and 50% of his base
      salary.

            

    

    

    
      	
              (2)

            	
              The
      Company will reimburse each named executive officer up to $10,000 for
      actual expenses incurred for legal, tax and estate plan preparation
      services.EX 10.1

EXHIBIT 10.1

THIS AGREEMENT DATED THIS 9th day of January, 2010

     BETWEEN:

                   SELGA AUTO LLC, a registered automobile dealer 

In the State of Georgia with principal office in 

Atlanta, Georgia.

                   (hereinafter referred to as the "Agent")

                                                               OF THE FIRST PART

     AND:

                  SELGA INC, a Nevada corporation with principal  

                  Office located in Atlanta Georgia.

                   (hereinafter referred to as the "Corporation")

                                                              OF THE SECOND PART

     WHEREAS the Corporation wishes to retain the services of the Agent to provide the services hereunder described during the terms hereinafter set out;

     NOW THEREFORE THIS AGREEMENT WITNESSETH that in consideration of the mutual covenants and agreements herein contained and for other good and valuable consideration, the parties agree as follows:

1. TERM

     The Corporation shall make use of the Agent’s services for a period of six months commencing on January 1, 2010 and continuing thereafter on a month to month basis until this Agreement is terminated in accordance with paragraph 8.

2. AGREEMENT

     The Agent shall assist the Corporation in bidding, and buying of automobiles and subsequent document handling upon successful bidding at the following automobile auctions: www.manheim.com, www.ove.com. The Corporation shall pay to Agent a service fee, as detailed in paragraph 6 herein, for each successful purchase of the automobile with the assistance of the Agent.

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3. MAXIMUM PURCHASE PRICE. 

      The Agent’s bid for the automobile shall not exceed a sum set forth by the Corporation plus expenses of the purchase.

4. SERVICE FEE

     The payment for each successful auction sale as described under this Agreement shall be $300 payable by the Corporation to Agent. There shall not be any change to the Service Fee during the duration of this Agreement provided the change is agreed to in writing by both parties. 

5. DUTIES OF CORPORATION

a)

Provide Agent with complete description of the automobile that it wishes the Agent to bid on, including VIN number, make, model and year.

b)

Provide Agent with the Maximum Purchase Price of each automobile that it wishes to purchase.

c)

Provide Payment in full within three business days to the Agent following successful purchase of the automobile.  Payment shall include the automobile purchase price, auction fees, and Agent’s fees.

6. DUTIES OF AGENT

a)

Use its best efforts to obtain the lowest possible price when bidding for automobiles on behalf of the Corporation.

b)

Not go over the Maximum Purchase Price of each automobile while bidding.

c)

Disclose all available information to Corporation about each vehicle which is available to the Agent and which can reasonably affect the value of the vehicle. Such information includes, but is not limited to: 1) the mechanical condition, 2) exterior car body condition, 3) interior of car condition, 4) title status.

d)

Perform its services diligently and faithfully to the best of the Agents abilities and in the best interest of the Corporation.

7. EXPENSES

     The Agent shall be reimbursed for all reasonable travel and other out-of-pocket expenses actually and properly incurred by the Agent from time to time in connection with carrying out his services hereunder.  For all such expenses the Agent shall furnish to the Corporation originals of all invoices or statements in respect of which the Agent seeks reimbursement.

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8. TERMINATION

     The Corporation or the Agent may terminate the Agreement by providing no less than 

30 days resignation notice in writing.

9. CONFLICT OF INTEREST

     During the service period, the Agent shall promptly disclose to the board of directors full information concerning any interest, direct or indirect, of the Agent (as owner, shareholder,  partner,  lender or other  investor, director,  officer,  employee,  agent  or  otherwise)  or any member of his family in any business that is reasonably known to the Agent to purchase or otherwise  obtain  services or products  from,  or to sell or otherwise  provide

10. TIME IS OF THE ESSENCE

Time is of the essence for purposes of this Agreement.

11. GOVERNING LAW

     This Agreement shall be governed by and construed in accordance with the laws of the State of Georgia.

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

 SELGA INC.                                     SELGA AUTO LLC.

/s/ Olegs Petusko

                      /s/ Eduard Magelis

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

Olegs Petusko                                  Eduard Magelis

3 | PageUnassociated Document

    Exhibit
10.1(a)

    

    FIFTH
AMENDMENT TO THE

    CENTURYTEL
DOLLARS & SENSE 401(K) PLAN

    AS
AMENDED AND RESTATED

    EFFECTIVE
DECEMBER 31, 2006

    

    WHEREAS, the CenturyTel
Dollars & Sense 401(k) Plan (“Plan”) was amended and restated by CenturyTel,
Inc. (the “Company”) effective December 31, 2006;

     

    WHEREAS, the Company desires
to amend the Plan to fully comply with the final Treasury Regulations under
Internal Revenue Code § 415;

     

    WHEREAS, the Company reserved
the right to amend the Plan in Section 14.2 of the Plan and delegated to the
Retirement Committee the right to amend the Plan to comply with changes in
governing laws and regulations;

     

    NOW, THEREFORE, effective
January 1, 2008, the Plan is amended as follows:

     

    
      I.

       

      Paragraph
(a) of Section 1.13, Compensation, is
amended and restated in its entirety to read as follows:

       

    

     

    
      
        	
                 
      

              	
                (a)

              	
                Compensation.  Effective
      January 1, 2007, Compensation shall mean, for all Participating Employers,
      the total amounts paid to a Participant by an Employer reported on Form
      W-2 of the Participant plus Elective Deferrals, including Catch-up
      Contributions, made pursuant to Section 3.1(d) of the Plan, contributions
      to Code Section 125 plans, contributions to pay for qualified
      transportation fringe benefits under Code Section 132(f)(2), and effective
      January 1, 2008, payments made after severance from employment for
      services rendered during the Participant’s regular working hours, provided
      such payments are made within 2 1⁄2 months after severance from employment
      (or by the end of the Plan Year in which the severance from employment
      occurred, if later) and such payments would have been paid to the
      Participant prior to severance from employment if the Participant had
      continued in employment and would have been treated as Compensation at
      such time.  Compensation shall exclude the following unless
      stated otherwise:

              

      

       

       

    

    
      
        	
                 
      

              	
                (i)

              	
                Overtime;
      however, if an Employee has fewer than 80 hours of standard pay in his two
      week payroll period, overtime pay is converted to standard pay until the
      Employee has 80 hours for Plan
purposes;

              

      

       

      
        	
                 
      

              	
                (ii)

              	
                Back-pay
      awards;

              

      

       

      
        	
                 
      

              	
                (iii)

              	
                Premium
      pay;

              

      

       

      
        	
                 
      

              	
                (iv)

              	
                Broad-based
      bonuses not included under the Employer’s normal compensation programs,
      such as completion bonuses, referral bonuses, relocation bonuses, and
      Christmas bonuses, points & awards gross-up, prizes & awards,
      (team performance awards and individual performance bonuses are
      included);

              

      

       

      
        	
                 
      

              	
                (v)

              	
                Reimbursements
      or other expense allowances, such as meal allowances, imputed income,
      special credits for waiver of benefits, executive cash allowance, tax
      gross-up compensation, housing allowance, moving expenses, and all other
      cash and non-cash fringe benefits;

              

      

       

      
        	
                 
      

              	
                (vi)

              	
                Deferred
      compensation, employee stock purchase plan, stock appreciation rights,
      stock options, and welfare
benefits;

              

      

       

      
        	
                 
      

              	
                (vii)

              	
                Restricted
      stock awards under the Company’s Restricted Stock Plan or Key Employee
      Incentive Compensation Plan; and

              

      

       

      
        	
                 
      

              	
                (viii)

              	
                Severance
      pay or termination pay in any form.

              

      

       

    

    
      II.

       

      The
first sentence of Paragraph (b), Section 415
Compensation, of Section 1.13, Compensation, is
amended to read as follows:

       

                      
Section 415 Compensation shall mean compensation as that term is used in Section
415(c)(3) of the Code.

       

      
        III.

         

        Paragraph
(b), Correction of
Excess Annual Additions, of Section 5.1, Defined Contribution
Limitation, is amended and restated in its entirety to read as
follows:

         

        
          	
                   
      

                	
                  (b)

                	
                  Correction of Excess
      Annual Additions.  If, as a result of the allocation of
      forfeitures, a reasonable error in estimating the Participant’s Section
      415 Compensation, or a reasonable error in estimating the amount of
      Elective Deferrals that may be made with respect to any Participant under
      the limits of Section 415 of the Code or under other facts and
      circumstances permitted by the Commissioner of the Internal Revenue
      Service, Annual Additions exceed the limitation set forth in Section
      5.1(a), the excess will be disposed of in accordance with the Employee
      Plans Compliance Resolution System (EPCRS), Rev. Proc. 2008-50, 2008-35
      I.R.B. 464, or such other method(s) deemed acceptable by the Internal
      Revenue Service.

                

        

         

        IV.

         

        Paragraph
(c), Annual
Addition, of Section 5.1, Defined Contribution
Limitation, is amended and restated in its entirety to read as
follows:

         

        
          	
                   
      

                	
                  (c)

                	
                  Annual
      Addition.   Annual Addition means annual addition as
      that term is used in Section 415(c)(2) of the Code and Treasury Regulation
      Section 1.415(c)-1(b).

                

        

         

                        
IN WITNESS WHEREOF, the Company has executed this amendment on
this 15th day of September, 2009.

         

         

        
          
            	 
      	
                    CENTURYTEL,
      INC.

                  
	 
      	 
      
	 
      	 
      
	 
      	
                    By:
      /s/ Stacey W. Goff      

                  
	 
      	
                    Name:  Stacey
      W. Goff

                  
	 
      	
                    Title:  Executive
      Vice-President,

                               General
      Counsel and
Secretary

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