Document:

efsh_ex102.htm

EXHIBIT 10.2

 

ESCROW DEPOSIT AGREEMENT

 

This ESCROW DEPOSIT AGREEMENT (this “Agreement”) dated as of this [_____] day of [_____] 2018, by and among 1847 HOLDINGS LLC, a Delaware limited liability company (the “Company”), having an address at 590 Madison Avenue, 21st Floor, New York, NY 10022, BOUSTEAD SECURITIES, LLC, a California limited liability company. (the “Underwriter”), having an address at 6 Venture, Suite 325, Irvine, CA 92618, and SIGNATURE BANK (the “Escrow Agent”), a New York State chartered bank, having an office at 950 Third Avenue, 9th Floor New York, NY 10022. All capitalized terms not herein defined shall have the meaning ascribed to them in that certain registration statement on Form S-1 (Registration No. 333-220844), as amended, filed by the Company, including all attachments, schedules and exhibits thereto (the “Registration Statement”).
 

W I T N E S S E T H:

 

WHEREAS, pursuant to the terms of the Registration Statement, the Company desires to sell (the “Offering”) a minimum of $12,500,000 (the “Minimum Amount”) and a maximum of $25,000,000 (the “Maximum Amount”) of its Units (the “Units”). Each Unit consists of (i) one (1) common share (the “Common Shares”) and (ii) one (1) warrant to purchase one Common Share, at an exercise price of $5.00 per Common Share. Each Unit is being sold at a price of $5.00 per Unit. In addition, the Underwriter has been granted an over-subscription option (the “Over-Subscription Option”) pursuant to which the Company may sell up to an additional 750,000 Units for additional investment proceeds of up to $3,750,000; and

 

WHEREAS, unless the Minimum Amount is sold by April 30, 2018 (the “Termination Date”), or by June 30, 2018 (the “Final Termination Date”) if the Termination Date has been extended by Company and the Placement Agent, the Offering shall terminate and all funds shall be returned to the subscribers in the Offering, and 

 

WHEREAS, if the Minimum Amount is met, the Offering may continue until the Termination Date or Final Termination Date if extended; and

 

WHEREAS, in the event that the Maximum Amount is sold by the Initial Termination Date, or Final Termination Date as applicable, and the Underwriter exercises the Over-Subscription Option by such date, the Underwriter may extend the Offering for an additional 45 days past the date of exercise of the Over-Subscription Option (the “Over-Subscription Termination Date”); and

 

WHEREAS, the Company and Underwriter desire to establish an escrow account with the Escrow Agent into which the Company and Underwriter shall instruct Investors introduced to the Company by Underwriter (the “Investors”) to deposit checks and other instruments for the payment of money made payable to the order of “Signature Bank as Escrow Agent for 1847 Holdings LLC,” and Escrow Agent is willing to accept said checks and other instruments for the payment of money in accordance with the terms hereinafter set forth; and

 

WHEREAS, the Company, as issuer, and Underwriter, as an introducing broker-dealer, represent and warrant to the Escrow Agent that they will comply with all of their respective obligations under applicable state and federal securities laws and regulations with respect to sale of the Offering; and

 

	 
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WHEREAS, the Company and Underwriter represent and warrant to the Escrow Agent that they have not stated to any individual or entity that the Escrow Agent’s duties will include anything other than those duties stated in this Agreement; and

 

WHEREAS, the Company and Underwriter warrant to the Escrow Agent that a copy of each document that has been delivered to Investors and third parties that include Escrow Agent’s name and duties, has been attached hereto as Schedule I.

 

NOW, THEREFORE, IT IS AGREED as follows:

 

1. Delivery of Escrow Funds.

 

(a) Underwriter and the Company shall instruct Investors to deliver to Escrow Agent checks made payable to the order of “Signature Bank, as Escrow Agent for 1847 Holdings LLC,” or wire transfer to Signature Bank, 950 Third Avenue, 9th Floor New York, NY 10022, ABA No. 026013576 for credit to Signature Bank, as Escrow Agent for 1847 Holdings LLC, Account No. _____________, in each case, with the name and address of the individual or entity making payment. In the event any Investor’s address is not provided to Escrow Agent by the Investor, then Underwriter and/or the Company agree to promptly provide Escrow Agent with such information in writing. The checks or wire transfers shall be deposited into a non interest-bearing account at Signature Bank entitled “1847 Holdings LLC, Signature Bank, as Escrow Agent” (the “Escrow Account”). 

 

(b) The collected funds deposited into the Escrow Account are referred to as the “Escrow Funds.”

 

(c) The Escrow Agent shall have no duty or responsibility to enforce the collection or demand payment of any funds deposited into the Escrow Account. If, for any reason, any check deposited into the Escrow Account shall be returned unpaid to the Escrow Agent, the sole duty of the Escrow Agent shall be to return the check to the Investor and advise the Company and Underwriter promptly thereof.

 

2. Release of Escrow Funds. The Escrow Funds shall be paid by the Escrow Agent in accordance with the following:

 

(a) In the event that the Company and Underwriter advise the Escrow Agent in writing that the Offering has been terminated (the “Termination Notice”), the Escrow Agent shall promptly return the funds paid by each Investor to said Investor without interest or offset.

 

(b) If prior to 3:00 P.M. Eastern time on the Termination Date, the Escrow Agent receives written notice, in the form of Exhibit A, attached hereto and made a part hereof, and signed by the Company and Underwriter, stating that the Termination Date has been extended to the Final Termination Date (the “Extension Notice”), then the Termination Date shall be so extended.

 

	 
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(c) If at any time prior to 3:00 P.M. Eastern Time on the Termination Date, or Final Termination Date as applicable, the Escrow Agent receives written notice, in the form of Exhibit B, attached hereto and made a part hereof, and signed by the Company and the Underwriter, stating that the Termination Date, or Final Termination Date as applicable, has been extended to the Over-Subscription Termination Date (the “Over-Subscription Extension Notice”), then the Termination Date or Final Termination Date shall be so extended. 

 

(d) Provided that the Escrow Agent does not receive the Termination Notice in accordance with Section 2(a) and there is the Minimum Amount deposited into the Escrow Account on or prior to later of the (i) Termination Date, (ii) the date stated in the Extension Notice, if any, received by the Escrow Agent in accordance with Section 2(b) above or (iii) the date stated in the Over-Subscription Extension Notice, if any, received by the Escrow Agent in accordance with Section 2(c) above, the Escrow Agent shall, upon receipt of written instructions, in the form of Exhibit C, attached hereto and made a part hereof, or in a form and substance satisfactory to the Escrow Agent, received from the Company and Underwriter, pay the Escrow Funds in accordance with such written instructions, such payment or payments to be made by wire transfer within one (1) business day of receipt of such written instructions. Such instructions must be received by the Escrow Agent no later than 3:00 PM Eastern Time on a Banking Day for the Escrow Agent to process such instructions that Banking Day.

 

(e) If by 3:00 P.M. Eastern time on the later of (i) the Termination Date (ii) the date stated in the Extension Notice, if any, that the Escrow Agent has received in accordance with Section 2(b) above or (iii) the date stated in the Over-Subscription Extension Notice, if any, received by the Escrow Agent in accordance with Section 2(c) above, the Escrow Agent has not received written instructions from the Company and Underwriter regarding the disbursement of the Escrow Funds or the total amount of the Escrow Funds is less than the Minimum Amount, then the Escrow Agent shall promptly return the Escrow Funds to the Investors without interest or offset. The Escrow Funds returned to each Investor shall be free and clear of any and all claims of the Escrow Agent.

 

(f) The Escrow Agent shall not be required to pay any uncollected funds or any funds that are not available for withdrawal.

 

(g) If the Termination Date, Final Termination Date, Over-Subscription Termination Date, or any date that is a deadline under this Agreement for giving the Escrow Agent notice or instructions or for the Escrow Agent to take action is not a Banking Day, then such date shall be the Banking Day that immediately preceding that date. A “Banking Day” is any day other than a Saturday, Sunday or a day that a New York State chartered bank is not legally obligated to be opened. 

 

3. Acceptance by Escrow Agent. The Escrow Agent hereby accepts and agrees to perform its obligations hereunder, provided that:

 

(a) The Escrow Agent may act in reliance upon any signature reasonably believed by it to be genuine, and may assume that any person who has been designated by Underwriter or the Company to give any written instructions, notice or receipt, or make any statements in connection with the provisions hereof has been duly authorized to do so. Escrow Agent shall have no duty to make inquiry as to the genuineness, accuracy or validity of any statements or instructions or any signatures on statements or instructions. The names and true signatures of each individual authorized to act singly on behalf of the Company and Underwriter are stated in Schedule II, which is attached hereto and made a part hereof. The Company and Underwriter may each remove or add one or more of its authorized signers stated on Schedule II by notifying the Escrow Agent of such change in accordance with this Agreement, which notice shall include the true signature for any new authorized signatories.

 

	 
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(b) The Escrow Agent may act relative hereto in reliance upon advice of counsel in reference to any matter connected herewith. The Escrow Agent shall not be liable for any mistake of fact or error of judgment or law, or for any acts or omissions of any kind, unless caused by its willful misconduct or gross negligence.

 

(c) Underwriter and the Company agree to indemnify and hold the Escrow Agent harmless from and against any and all claims, losses, costs, liabilities, damages, suits, demands, judgments or expenses (including but not limited to reasonable attorney’s fees) claimed against or incurred by Escrow Agent arising out of or related, directly or indirectly, to this Escrow Agreement unless caused by the Escrow Agent’s gross negligence or willful misconduct.

 

(d) In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder, the Escrow Agent shall be entitled to (i) refrain from taking any action other than to keep safely the Escrow Funds until it shall be directed otherwise by a court of competent jurisdiction, or (ii) deliver the Escrow Funds to a court of competent jurisdiction.

 

(e) The Escrow Agent shall have no duty, responsibility or obligation to interpret or enforce the terms of any agreement other than Escrow Agent’s obligations hereunder, and the Escrow Agent shall not be required to make a request that any monies be delivered to the Escrow Account, it being agreed that the sole duties and responsibilities of the Escrow Agent shall be to the extent not prohibited by applicable law (i) to accept checks or other instruments for the payment of money and wire transfers delivered to the Escrow Agent for the Escrow Account and deposit said checks and wire transfers into the non-interest bearing Escrow Account, and (ii) to disburse or refrain from disbursing the Escrow Funds as stated above, provided that the checks received by the Escrow Agent have been collected and are available for withdrawal.

 

4. Escrow Account Statements and Information. The Escrow Agent agrees to send to the Company and/or the Underwriter a copy of the Escrow Account periodic statement, upon request in accordance with the Escrow Agent’s regular practices for providing account statements to its non-escrow clients and to also provide the Company and/or Underwriter, or their designee, upon request other deposit account information, including Escrow Account balances, by telephone or by computer communication, to the extent practicable. The Company and Underwriter agree to complete and sign all forms or agreements required by the Escrow Agent for that purpose. The Company and Underwriter each consent to the Escrow Agent’s release of such Escrow Account information to any of the individuals designated by Company or Underwriter, which designation has been signed in accordance with Section 3(a) by any of the persons in Schedule II. Further, the Company and Underwriter have an option to receive e-mail notification of incoming and outgoing wire transfers. If this e-mail notification service is requested and subsequently approved by the Escrow Agent, the Company and Underwriter agrees to provide a valid e-mail address and other information necessary to set-up this service and sign all forms and agreements required for such service. The Company and Underwriter each consent to the Escrow Agent’s release of wire transfer information to the designated e-mail address(es). The Escrow Agent’s liability for failure to comply with this section shall not exceed the cost of providing such information.

 

	 
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5. Resignation and Termination of the Escrow Agent. The Escrow Agent may resign at any time by giving 30 days’ prior written notice of such resignation to Underwriter and the Company. Upon providing such notice, the Escrow Agent shall have no further obligation hereunder except to hold as depositary the Escrow Funds that it receives until the end of such 30-day period. In such event, the Escrow Agent shall not take any action, other than receiving and depositing Investors checks and wire transfers in accordance with this Agreement, until the Company has designated a banking corporation, trust company, attorney or other person as successor. Upon receipt of such written designation signed by Underwriter and the Company, the Escrow Agent shall promptly deliver the Escrow Funds to such successor and shall thereafter have no further obligations hereunder. If such instructions are not received within 30 days following the effective date of such resignation, then the Escrow Agent may deposit the Escrow Funds held by it pursuant to this Agreement with a clerk of a court of competent jurisdiction pending the appointment of a successor. In either case provided for in this Section, the Escrow Agent shall be relieved of all further obligations and released from all liability thereafter arising with respect to the Escrow Funds.

 

6. Termination. The Company and Underwriter may terminate the appointment of the Escrow Agent hereunder upon written notice specifying the date upon which such termination shall take effect, which date shall be at least 30 days from the date of such notice. In the event of such termination, the Company and Underwriter shall, within 30 days of such notice, appoint a successor escrow agent and the Escrow Agent shall, upon receipt of written instructions signed by the Company and Underwriter, turn over to such successor escrow agent all of the Escrow Funds; provided, however, that if the Company and Underwriter fail to appoint a successor escrow agent within such 30-day period, such termination notice shall be null and void and the Escrow Agent shall continue to be bound by all of the provisions hereof. Upon receipt of the Escrow Funds, the successor escrow agent shall become the escrow agent hereunder and shall be bound by all of the provisions hereof and Escrow Agent shall be relieved of all further obligations and released from all liability thereafter arising with respect to the Escrow Funds and under this Agreement.

 

7. Investment. All funds received by the Escrow Agent shall be held only in non-interest bearing bank accounts at Signature Bank.

 

8. Compensation. Escrow Agent shall be entitled, for the duties to be performed by it hereunder, to a fee of $4,000.00, which fee shall be paid by the Company upon the signing of this Agreement. In addition, the Company shall be obligated to reimburse Escrow Agent for all fees, costs and expenses incurred or that become due in connection with this Agreement or the Escrow Account, including reasonable attorney’s fees. Neither the modification, cancellation, termination or rescission of this Agreement nor the resignation or termination of the Escrow Agent shall affect the right of Escrow Agent to retain the amount of any fee which has been paid, or to be reimbursed or paid any amount which has been incurred or becomes due, prior to the effective date of any such modification, cancellation, termination, resignation or rescission. To the extent the Escrow Agent has incurred any such expenses, or any such fee becomes due, prior to any closing, the Escrow Agent shall advise the Company and the Company shall direct all such amounts to be paid directly at any such closing. The Escrow Agent shall be entitled to a fee of $1,000 in the event the Agreement is amended for any reason in accordance with Section 10(d).

 

	 
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9. Notices. All notices, requests, demands and other communications required or permitted to be given hereunder shall be in writing and shall be deemed to have been duly given if sent by hand-delivery, by facsimile (followed by first-class mail), by nationally recognized overnight courier service or by prepaid registered or certified mail, return receipt requested, to the addresses set forth below:

 

If to Underwriter:

 

Boustead Securities, LLC

6 Venture, Suite 325, 

Irvine, CA 92618

Attention: Keith Moore and Daniel J. McClory

Fax: (815) 301-8099

 

If to the Company:

 

1847 Holdings LLC

590 Madison Avenue, 21st Floor, 

New York, NY 10022

Attention: Ellery Roberts

Fax: (917) 793-5950

 

If to Escrow Agent:

 

Signature Bank

950 Third Avenue, 9th Floor 

New York, NY 10022

Attention: John Gonzalez, Group Director & Senior Vice President

Fax: (646) 822-1520

 

10. General.

 

(a) This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York applicable to agreements made and to be entirely performed within such State, without regard to choice of law principles and any action brought hereunder shall be brought in the courts of the State of New York, located in the County of New York. Each party hereto irrevocably waives any objection on the grounds of venue, forum non-conveniens or any similar grounds and irrevocably consents to service of process by mail or in any manner permitted by applicable law and consents to the jurisdiction of said courts. EACH OF THE PARTIES HERETO HEREBY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT.

 

	 
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(b) This Agreement sets forth the entire agreement and understanding of the parties with respect to the matters contained herein and supersedes all prior agreements, arrangements and understandings relating thereto.

 

(c) All of the terms and conditions of this Agreement shall be binding upon, and inure to the benefit of and be enforceable by, the parties hereto, as well as their respective successors and assigns.

 

(d) This Agreement may be amended, modified, superseded or canceled, and any of the terms or conditions hereof may be waived, only by a written instrument executed by each party hereto or, in the case of a waiver, by the party waiving compliance. The failure of any party at any time or times to require performance of any provision hereof shall in no manner affect its right at a later time to enforce the same. No waiver of any party of any condition, or of the breach of any term contained in this Agreement, whether by conduct or otherwise, in any one or more instances shall be deemed to be or construed as a further or continuing waiver of any such condition or breach or a waiver of any other condition or of the breach of any other term of this Agreement. No party may assign any rights, duties or obligations hereunder unless all other parties have given their prior written consent.

 

(e) If any provision included in this Agreement proves to be invalid or unenforceable, it shall not affect the validity of the remaining provisions.

 

(f) This Agreement and any modification or amendment of this Agreement may be executed in several counterparts or by separate instruments and all of such counterparts and instruments shall constitute one agreement, binding on all the parties hereto. 

 

11. Form of Signature. The parties hereto agree to accept a facsimile transmission copy of their respective actual signatures as evidence of their actual signatures to this Agreement and any modification or amendment of this Agreement; provided, however, that each party who produces a facsimile signature agrees, by the express terms hereof, to place, promptly after transmission of his or her signature by fax, a true and correct original copy of his or her signature in overnight mail to the address of the other party.

 

12. No Third-Party Beneficiaries. This Agreement is solely for the benefit of the parties and their respective successors and permitted assigns, and no other person has any right, benefit, priority, or interest under or because of the existence of this Agreement.

 

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

 

 

	
1847 HOLDINGS LLC
	 	BOUSTEAD SECURITIES, LLC	 
	
  
	
 
	
  
	
 

	
By:
		 	By:		 
	
Name:
	
Ellery W. Roberts Name: 
	 	Name:		 
	
Title:
	
Chief Financial Officer Title: 
	 	Title:		 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 

	
SIGNATURE BANK
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 

	
By:
	
 
	
 
	
 
	
 
	
 

	
Name:
	
 
	
 
	
 
	
 
	
 

	
Title:
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 

	
By:
	
 
	
 
	
 
	
 
	
 

	
Name:
	
 
	
 
	
 
	
 
	
 

	
Title:
	
 
	
 
	
 
	
 
	
 

 

	 
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Schedule I

 

OFFERING DOCUMENTS

 

	 
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Schedule II

 

The Escrow Agent is authorized to accept instructions signed or reasonably believed by the Escrow Agent to be signed by any one of the following on behalf of the Company and Underwriter.

 

1847 Holdings LLC

 

	
 
	 	 	 	 	 
	
 
	Name 	 	 	True Signature	 
	
 
		 	 		 
	
 
		 	 		 

 

Boustead Securities, LLC

 

	
 
	 	 	 	 	 
	
 
	Name 	 	 	True Signature	 
	
 
		 	 		 
	
 
		 	 		 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 

 
	 
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Exhibit A

 

EXTENSION NOTICE

 

Date:

 

Signature Bank

[address of financial center]

______________

Attention: [name & title of Group Director]

 

Dear _________:

 

In accordance with the terms of Section 2(b) of an Escrow Deposit Agreement dated ___ _______, 2018 by and among 1847 Holdings LLC(the “Company”), Boustead Securities, LLC(“Underwriter”), and Signature Bank (the “Escrow Agent”), the Company and Underwriter hereby notifies the Escrow Agent that the Termination Date has been extended to __________ __, 20__, the Final Termination Date.

 

Very truly yours,

 

1847 Holdings LLC

 

By:_____________

Name:__________

Title:____________

 

Boustead Securities, LLC

 

By:_____________

Name:___________

Title:____________

 

	 
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Exhibit B

 

OVER-SUBSCRIPTION EXTENSION NOTICE

 

Date:

 

Signature Bank

950 Third Avenue, 9th Floor

New York, New York 10022

Attention: John Gonzalez, Group Director & Senior Vice President

 

Dear John:

 

In accordance with the terms of Section 2(c) of the Escrow Deposit Agreement, dated ___ _______, by and among 1847 Holdings LLC (the “Company”), Boustead Securities, LLC (“Underwriter”), and Signature Bank (the “Escrow Agent”), the Company and Underwriter hereby notify the Escrow Agent that the Initial Termination Date, or Final Termination Date as applicable, has been extended to __________ __, 20__, the Over-Subscription Termination Date.

 

Very truly yours,

 

1847 Holdings LLC

 

By:_____________

Name:__________

Title:____________

 

Boustead Securities, LLC

 

By:_____________

Name:___________

Title:____________

 

	 
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Exhibit C

 

FORM OF ESCROW RELEASE NOTICE

 

Date: 

 

Signature Bank

950 Third Avenue, 9th Floor New York, NY 10022______________

Attention: [name & title of Group Director]

 

Dear _________:

 

In accordance with the terms of Section 2(d) of an Escrow Deposit Agreement dated as of ________ __, 2018 (the "Escrow Agreement"), by and between 1847 Holdings LLC (the "Company"), Signature Bank (the "Escrow Agent") and Boustead Securities, LLC ("Underwriter"), the Company and Underwriter hereby notify the Escrow Agent that the ________ closing will be held on ___________ for gross proceeds of $_________.

 

PLEASE DISTRIBUTE FUNDS BY WIRE TRANSFER AS FOLLOWS (wire instructions attached):

 

________________________:              $ 

 

________________________:              $ 

 

________________________:              $ 

 

Very truly yours,

 

1847 Holdings LLC

 

By:_____________

Name:__________

Title:____________

 

Boustead Securities, LLC

 

By:_____________

Name:___________

Title:____________

 

 

 

	13EX-10.1

 Exhibit 10.1 

AMENDMENT NO. 1 
 Dated as of
January 30, 2018 
 to 

SECOND AMENDED AND RESTATED CONTRIBUTION DEFERRAL AGREEMENT 

Dated as of January 31, 2014 

THIS AMENDMENT NO. 1 (this “Amendment”) is made as of January 30, 2018 by and among YRC INC., a Delaware corporation
(“YRC”), USF HOLLAND LLC, a Delaware limited liability company (f/k/a USF Holland Inc., a Michigan corporation) (“Holland”), NEW PENN MOTOR EXPRESS LLC, a Delaware limited liability company (f/k/a New Penn Motor
Express Inc., a Pennsylvania corporation) (“New Penn”), USF REDDAWAY INC., an Oregon corporation (“Reddaway”; each of YRC, Holland, New Penn and Reddaway, a “Primary Obligor”, and collectively, the
“Primary Obligors”), the other Obligors party hereto, the TRUSTEES for the CENTRAL STATES, SOUTHEAST AND SOUTHWEST AREAS PENSION FUND, and each other pension fund party hereto as a “Fund”, and Wilmington Trust Company, a
Delaware Trust Company, as agent for the Funds (together with its successors and assigns, in such capacity, the “CDA Agent”), under that certain Second Amended and Restated Contribution Deferral Agreement (as amended, modified or
supplemented from time to time, the “Contribution Deferral Agreement”) dated as of January 31, 2014, by and among the Primary Obligors, the Funds party thereto and the CDA Agent. Capitalized terms used herein and not otherwise
defined herein shall have the respective meanings given to them in the Contribution Deferral Agreement, as applicable. 
 WHEREAS, the
Obligors desire to amend the Contribution Deferral Agreement in accordance with Section 10.04(c) thereof by, among other things, extending the date by which payment of all outstanding Deferred Pension Payments and outstanding Deferred Interest
must be made from December 31, 2019 to December 31, 2022 (the “Extension”); 
 WHEREAS, the Obligors have
requested certain other amendments to the Contribution Deferral Agreement, which shall become effective immediately following consummation of the Extension; 

NOW, THEREFORE, in consideration of the premises set forth above, the terms and conditions contained herein, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Obligors, the Funds, and the CDA Agent have agreed to enter into this Amendment. 

1.    Amendments to Contribution Deferral Agreement. 

The Primary Obligors, the Funds and the CDA Agent hereby agree that, upon the satisfaction or waiver of the conditions precedent set forth in
Section 2, the Contribution Deferral Agreement shall be amended as follows: 
 (a)    Section 1.01 of the
Contribution Deferral Agreement is hereby amended by adding the following definitions in proper alphabetical sequence: 

 ““Equity Interests” shall have the meaning assigned to such term in
Section 7.01(c).” 
 ““First Amendment” means that certain Amendment No. 1 to this Agreement, dated as
of January 30, 2018, among the Primary Obligors, the other Obligors party thereto, the Agent, and the Funds listed on the signature pages thereto.” 

““First Amendment Effective Date” shall have the meaning assigned to such term in Article 2 of the First
Amendment.” 
 ““Installment Payments” shall mean those payments to be made in accordance with the table set
forth in Section 2.01(b).” 
 ““Maturity Date” shall mean December 31, 2022.” 

(b)    Section 2.01 of the Contribution Deferral Agreement is amended and restated in its entirety as follows: 

“2.01 Deferred Pension Payments and Deferred Interest. 

(a)    As of the First Amendment Effective Date, the Primary Obligors owe the Funds, without defense, counterclaim or
offset of any kind, an aggregate amount equal to $75,121,649.40 in respect of the Deferred Pension Payments, with the specific amounts owed to each Fund as of the First Amendment Effective Date being set forth on Schedule 2.01 hereto. 

(b)    Subject to the terms and conditions set forth herein, the Funds, on a several basis, and the Primary Obligors, on a
joint and several basis, hereby agree that payment of all (i) Deferred Pension Payments and (ii) Deferred Interest shall be made by the Primary Obligors to the applicable Funds in installments on the dates and in the amounts set forth in
the table below: 
  

			
	
Payment Dates
	  	 Installment Payment Amount

	December 31, 2018	  	2% of Deferred Pension Payments as of November 30, 2018
	December 31, 2019	  	2% of Deferred Pension Payments as of November 30, 2019
	December 31, 2020	  	2% of Deferred Pension Payments as of November 30, 2020
	December 31, 2021	  	2% of Deferred Pension Payments as of November 30, 2021
	Maturity Date	  	Remaining amount of Deferred Interest and Deferred Pension Payments

  
 2 

 Any Installment Payments made pursuant to this Section 2.01(b) shall be applied ratably among the Funds in
accordance with the Obligations then due the Funds, first in respect of the Obligations other than Secured Obligations, then in respect of the Secured Obligations, and in all cases the Installment Payments shall be applied first towards payment of
Deferred Interest and second towards payment of Deferred Pension Payments. 
 The amount of each Installment Payment shall be calculated by the CDA Agent
and such amount and calculation shall be provided to the Primary Obligors. The Primary Obligors shall either confirm such amount and calculation or provide corrections thereto, which, in each case, may be relied upon conclusively by the CDA Agent
without independent verification and will have no further responsibility therefor whatsoever. The CDA Agent will distribute the final version of such calculations to any Fund upon the request of that Fund. 

(c)    A new Section 8.01(j) shall be added to the Contribution Deferral Agreement as follows: 

“(j) to the extent the Parent consummates an issuance of its shares, interests, rights, participations or other equivalents (however
designated) of capital stock of (or other ownership or profit interests or units in) the Parent and all of the warrants, options or other rights for the purchase, acquisition or exchange from the Parent of any of the foregoing (including through
convertible securities) (collectively, “Equity Interests”) (but excluding in each case any debt security that is convertible into, or exchanged for, Equity Interests) in an underwritten public offering or private placement,
in each case, and with respect to the first such issuance of Equity Interests that is consummated after the First Amendment Effective Date, the Parent (x) pays any bonuses to its executive officers or directors or (y) makes any dividend or
other distribution on account of any Equity Interest of the Parent, or any payment on account of the purchase, redemption, retirement, defeasance, acquisition, cancellation or termination of any such Equity Interest of the Parent, in each case with
respect to the foregoing (x) and (y), with the Net Cash Proceeds of such offering or placement.” 

(d)    Schedule 2.01 to the Contribution Deferral Agreement is hereby deleted and replaced in its entirety with the
Schedule 2.01 attached hereto. 
 2.    Conditions of Effectiveness. The effectiveness of this Amendment is
subject to the satisfaction (or waiver) of the following conditions precedent (the date on which such conditions precedent are satisfied or waived being referred to herein as the “First Amendment Effective Date”): 

(a)    The CDA Agent and the Funds shall have received counterparts of this Amendment duly executed by the Primary
Obligors, each other Obligor party hereto, the CDA Agent, and each Fund. 

  
 3 

 (b)    The CDA Agent (and its counsel) shall have received payment for all
invoiced fees and reasonable out-of-pocket expenses incurred in connection with this Amendment. 

(c)    The Primary Obligors shall have made an optional prepayment in an amount equal to $25,000,000 to be applied to
Obligations other than Secured Obligations, and first towards payment of Deferred Interest and second towards payment of Deferred Pension Payments. 

(d)    The Funds shall have received an officer’s certificate from each Primary Obligor, attaching recent good
standing certificates from its jurisdiction of organization, its organizational documents, resolutions approving this Amendment and incumbency. 

(e)    The representation and warranties listed in Section 3 of this Amendment shall be true and correct as of the
First Amendment Effective Date. 
 3.    Representations and Warranties of the Primary Obligors. Each of the
Primary Obligors and each of the other Obligors party hereto hereby represents and warrants as follows as of the First Amendment Effective Date: 

(a)    This Amendment has been duly authorized, executed and delivered by the Primary Obligors and each Obligor and this
Amendment and the Contribution Deferral Agreement, as modified hereby, constitute legal, valid and binding obligations of the Obligors and are enforceable against the Obligors in accordance with their terms, subject to applicable bankruptcy,
insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. 

(b)    As of the First Amendment Effective Date, (i) no Default has occurred and is continuing and (ii) the
representations and warranties of the Primary Obligors set forth in the Contribution Deferral Agreement, as modified hereby, are true and correct in all material respects on and as of the date hereof, except to the extent any such representation or
warranty is stated to relate solely to an earlier date, in which case such representation or warranty shall have been true and correct in all material respects on and as of such earlier date. 

(c)    The execution and delivery by the Primary Obligors of this Amendment, and the performance by the Primary Obligors
under this Amendment and the Contribution Deferral Agreement as modified hereby do not and will not violate or result in default under the Senior Credit Facility or the ABL Credit Facility as in effect on the First Amendment Effective Date. 

(d)    Each Primary Obligor is unable to make payment of any portion of the Deferred Pension Payments set forth on
Schedule 2.01 as of the First Amendment Effective Date, other than the Installment Payments specified in Section 1(b) of this Amendment and the payment of $25,000,000 specified in Section 2(c) of this Amendment. 

  
 4 

 (e)    Prior to the First Amendment Effective Date, Parent furnished to the
Funds its consolidated balance sheet and statements of income, stockholders’ equity and cash flows (i) as of and for the fiscal year ended December 31, 2016, reported on by KPMG LLP, independent public accountants, and (ii) as of
and for the fiscal quarter ended September 30, 2017. Such financial statements present fairly, in all material respects, the financial position and results of operations and cash flows of Parent and its consolidated subsidiaries as of such
dates and for such periods in accordance with GAAP, subject to year-end audit adjustments and the absence of footnotes in the case of the statements referred to in clause (ii) above. Prior to the First
Amendment Effective Date, the Primary Obligors delivered to the CS Pension Fund and its advisors the written projected financial information of Parent, dated as of November 29, 2017 and December 1, 2017 (the
“Projections”). The Projections were prepared in good faith based upon assumptions believed to be reasonable by senior management at the time, it being recognized by the Funds and the CDA Agent that the Projections are not to be
viewed as facts and that the actual results during the period or periods covered by such Projections may differ from the projected results and such differences may be material. Based on the Projections, as of the First Amendment Effective Date, the
Obligors do not expect to be able to repay the Deferred Pension Payments or the Deferred Interest on a date earlier than is required by this Amendment. 

4.    Reference to and Effect on the Contribution Deferral Agreement. 

(a)    Upon the effectiveness hereof, each reference to the Contribution Deferral Agreement in the Contribution Deferral
Agreement or any other Fund Document shall mean and be a reference to the Contribution Deferral Agreement as modified hereby. This Amendment shall constitute a Fund Document. 

(b)    Each Fund, by delivering its signature page to this Amendment shall be deemed to have (i) acknowledged receipt
of, and consented to and approved, each document, agreement, instrument, or certificate required to be approved by such Fund on the First Amendment Effective Date and (ii) authorized and directed the CDA Agent to execute this Amendment. 

(c)    Except as specifically set forth above, the Contribution Deferral Agreement and all other documents, instruments
and agreements executed and/or delivered in connection therewith shall remain in full force and effect and are hereby ratified and confirmed. 

(d)    The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or
remedy of the CDA Agent or the Funds, nor constitute a waiver of any provision of the Contribution Deferral Agreement or any other documents, instruments and agreements executed and/or delivered in connection therewith. 

5.    Acknowledgements. By executing this Amendment, each of the Obligors (a) consents to this Amendment and
the performance by the Primary Obligors and each of the other Obligors of their obligations hereunder, (b) acknowledges that notwithstanding the execution and delivery of this Amendment, the obligations of each of the Obligors under each of the
Collateral Documents and each of the other Fund Documents to which such Obligor is a party, are not impaired or affected and each such Collateral Document and each such other Fund Document continues in full force and effect, and (c) affirms and
ratifies, to the extent it is a party thereto, each Collateral Document and each other Fund Document with respect to all of the obligations thereunder as expanded or amended hereby. 

  
 5 

 6.    Further Assurances. If the Majority Funds reasonably determine
that applicable law requires the amendment of any Mortgage to reflect the provisions of this Amendment, after request thereto, the Borrower shall promptly cooperate with the CDA Agent and the Majority Funds in amending such Mortgage and shall pay
all reasonable out-of-pocket costs and expenses relating thereto. 

7.    Governing Law. This Amendment shall be construed in accordance with and governed by the law of the State of
New York. 
 8.    Headings. Section headings in this Amendment are included herein for convenience of reference
only and shall not constitute a part of this Amendment for any other purpose. 
 9.    Counterparts. This
Amendment may be executed by one or more of the parties hereto on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Signatures delivered by facsimile or PDF
shall have the same force and effect as manual signatures delivered in person. 
 10.    CDA Agent
Rights.    The CDA Agent shall not be liable for any action taken or not taken by it (i) in connection with entry into this Amendment, and in taking any actions under or pursuant to this Amendment or (ii) in the
absence of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction in a final and non-appealable decision. 

[Signature Pages Follow] 

  
 6 

 N WITNESS WHEREOF, this Amendment has been duly executed as of the day and year first above
written. 
  

							
		 		 	EXPRESS LANE SERVICE, INC.
				
		 		 	By:	 	/s/ Mark D. Boehmer
		 		 	Name:	 	Mark D. Boehmer
		 		 	Title:	 	Vice President
			
		 		 	 NEW PENN MOTOR EXPRESS LLC
 (F/K/A
NEW PENN MOTOR EXPRESS INC.)

				
		 		 	By:	 	/s/ Mark D. Boehmer
		 		 	Name:	 	Mark D. Boehmer
		 		 	Title:	 	Vice President
			
		 		 	ROADWAY EXPRESS INTERNATIONAL, INC.
				
		 		 	By:	 	/s/ Mark D. Boehmer
		 		 	Name:	 	Mark D. Boehmer
		 		 	Title:	 	Vice President
			
		 		 	ROADWAY LLC
				
		 		 	By:	 	/s/ Mark D. Boehmer
		 		 	Name:	 	Mark D. Boehmer
		 		 	Title:	 	Vice President
			
		 		 	ROADWAY NEXT DAY CORPORATION
				
		 		 	By:	 	/s/ Brianne L. Simoneau
		 		 	Name:	 	Brianne L. Simoneau
		 		 	Title:	 	Vice President, Finance
			
		 		 	ROADWAY REVERSE LOGISTICS, INC.
				
		 		 	By:	 	/s/ Phil J. Gaines
		 		 	Name:	 	Phil J. Gaines
		 		 	Title:	 	Senior Vice President, Finance
			
		 		 	USF BESTWAY INC.
				
		 		 	By:	 	/s/ Brianne L. Simoneau
		 		 	Name:	 	Brianne L. Simoneau
		 		 	Title:	 	Vice President, Finance

  
 Signature Page to
Amendment No. 1 to Contribution Deferral Agreement 
 YRC Inc., USF Holland LLC, New Penn Motor Express, LLC and USF Reddaway LLC 

Second Amended and Restated Contribution Deferral Agreement dated as of January 31, 2014 

							
			
		 		 	YRC ASSOCIATION SOLUTIONS, INC.
				
		 		 	By:	 	/s/ Mark D. Boehmer
		 		 	Name:	 	Mark D. Boehmer
		 		 	Title:	 	Vice President
			
		 		 	YRC INC.
				
		 		 	By:	 	/s/ Mark D. Boehmer
		 		 	Name:	 	Mark D. Boehmer
		 		 	Title:	 	Vice President
			
		 		 	YRC INTERNATIONAL INVESTMENTS, INC.
				
		 		 	By:	 	/s/ Mark D. Boehmer
		 		 	Name:	 	Mark D. Boehmer
		 		 	Title:	 	Vice President
			
		 		 	YRC LOGISTICS SERVICES, INC.
				
		 		 	By:	 	/s/ Brianne L. Simoneau
		 		 	Name:	 	Brianne L. Simoneau
		 		 	Title:	 	Vice President, Finance
			
		 		 	YRC MORTGAGES, LLC
				
		 		 	By:	 	/s/ Mark D. Boehmer
		 		 	Name:	 	Mark D. Boehmer
		 		 	Title:	 	Vice President
			
		 		 	YRC ENTERPRISE SERVICES, INC.
				
		 		 	By:	 	/s/ Mark D. Boehmer
		 		 	Name:	 	Mark D. Boehmer
		 		 	Title:	 	Vice President
			
		 		 	YRC REGIONAL TRANSPORTATION, INC.
				
		 		 	By:	 	/s/ Mark D. Boehmer
		 		 	Name:	 	Mark D. Boehmer
		 		 	Title:	 	Vice President

  
 Signature Page to
Amendment No. 1 to Contribution Deferral Agreement 
 YRC Inc., USF Holland LLC, New Penn Motor Express, LLC and USF Reddaway LLC 

Second Amended and Restated Contribution Deferral Agreement dated as of January 31, 2014 

							
		 		 	USF DUGAN INC.
				
		 		 	By:	 	/s/ Brianne L. Simoneau
		 		 	Name:	 	Brianne L. Simoneau
		 		 	Title:	 	Vice President, Finance
			
		 		 	USF GLEN MOORE INC.
				
		 		 	By:	 	/s/ Brianne L. Simoneau
		 		 	Name:	 	Brianne L. Simoneau
		 		 	Title:	 	Vice President, Finance
			
		 		 	 USF HOLLAND LLC
 (F/K/A USF HOLLAND
INC.)

				
		 		 	By:	 	/s/ Mark D. Boehmer
		 		 	Name:	 	Mark D. Boehmer
		 		 	Title:	 	Vice President
			
		 		 	USF REDSTAR LLC
				
		 		 	By:	 	/s/ Brianne L. Simoneau
		 		 	Name:	 	Brianne L. Simoneau
		 		 	Title:	 	Vice President, Finance
			
		 		 	USF REDDAWAY INC.
				
		 		 	By:	 	/s/ Mark D. Boehmer
		 		 	Name:	 	Mark D. Boehmer
		 		 	Title:	 	Vice President

  
 Signature Page to
Amendment No. 1 to Contribution Deferral Agreement 
 YRC Inc., USF Holland LLC, New Penn Motor Express, LLC and USF Reddaway LLC 

Second Amended and Restated Contribution Deferral Agreement dated as of January 31, 2014 

							
		 		 	WILMINGTON TRUST COMPANY, as CDA Agent
				
		 		 	By:	 	/s/ W. Thomas Morris, II
		 		 	Name:	 	W. Thomas Morris
		 		 	Title:	 	Vice President

  
 Signature Page to
Amendment No. 1 to Contribution Deferral Agreement 
 YRC Inc., USF Holland LLC, New Penn Motor Express, LLC and USF Reddaway LLC 

Second Amended and Restated Contribution Deferral Agreement dated as of January 31, 2014 

 
			
	 MANAGEMENT - LABOR WELFARE AND

PENSION FUNDS LOCAL 1730 I.L.A.

		
	By:	 	 /s/ Scott Shaffer

	Name:	 	Scott Shaffer
	Title:	 	Administrator

 Signature Page to Amendment No. 1 to Contribution Deferral Agreement 

YRC Inc., USF Holland LLC, New Penn Motor Express, LLC and USF Reddaway LLC 

Second Amended and Restated Contribution Deferral Agreement dated as of January 31, 2014 

 
			
	INTERNATIONAL BROTHERHOOD OF TEAMSTERS UNION LOCAL 710 PENSION FUND
	as a Fund
		
	By:	 	 /s/ Brian J. O’Malley

	Name:	 	Brian J. O’Malley
	Title:	 	Administrator

 Signature Page to Amendment No. 1 to Contribution Deferral Agreement 

YRC Inc., USF Holland LLC, New Penn Motor Express, LLC and USF Reddaway LLC 

Second Amended and Restated Contribution Deferral Agreement dated as of January 31, 2014 

 
			
	HAGERSTOWN MOTOR CARRIERS AND TEAMSTERS PENSION FUND, as a Fund
		
	By:	 	 /s/ [Unreadable]

	Name:	 	
	Title:	 	Administrative Agent

 Signature Page to Amendment No. 1 to Contribution Deferral Agreement 

YRC Inc., USF Holland LLC, New Penn Motor Express, LLC and USF Reddaway LLC 

Second Amended and Restated Contribution Deferral Agreement dated as of January 31, 2014 

 
			
	CENTRAL PENNSYLVANIA TEAMSTERS PENSION FUND, as a Fund
		
	By:	 	 /s/ William M. Shappell

	Name:	 	William M. Shappell
	Title:	 	Chairman and Trustee

 Signature Page to Amendment No. 1 to Contribution Deferral Agreement 

YRC Inc., USF Holland LLC, New Penn Motor Express, LLC and USF Reddaway LLC 

Second Amended and Restated Contribution Deferral Agreement dated as of January 31, 2014 

 
			
	CENTRAL STATES, SOUTHEAST AND SOUTHWEST AREAS PENSION FUND
		
	By:	 	 /s/ Thomas C. Nyhan

	Name:	 	Thomas C. Nyhan
	Title:	 	Executive Director

 Signature Page to Amendment No. 1 to Contribution Deferral Agreement 

YRC Inc., USF Holland LLC, New Penn Motor Express, LLC and USF Reddaway LLC 

Second Amended and Restated Contribution Deferral Agreement dated as of January 31, 2014 

 
			
	EMPLOYER-TEAMSTERS LOCAL NOS. 175 AND 505 PENSION TRUST FUND
		
	By:	 	 /s/ Frank T. Litton, Jr.

	Name:	 	Frank T. Litton, Jr.
	Title:	 	Chairman

 Signature Page to Amendment No. 1 to Contribution Deferral Agreement 

YRC Inc., USF Holland LLC, New Penn Motor Express, LLC and USF Reddaway LLC 

Second Amended and Restated Contribution Deferral Agreement dated as of January 31, 2014 

 
			
	FREIGHT DRIVERS AND HELPERS LOCAL UNION NO. 557 PENSION FUND as a Fund
		
	By:	 	 /s/ William Alexander

	Name:	 	William Alexander
	Title:	 	TRUSTEE

 Signature Page to Amendment No. 1 to Contribution Deferral Agreement 

YRC Inc., USF Holland LLC, New Penn Motor Express, LLC and USF Reddaway LLC 

Second Amended and Restated Contribution Deferral Agreement dated as of January 31, 2014 

 
			
	MID-JERSEY TRUCKING INDUSTRY & TEAMSTERS LOCAL 701 PENSION FUND, as a Fund
		
	By:	 	 /s/ RONALD LAKE

	Name:	 	RONALD LAKE
	Title:	 	TRUSTEE

 Signature Page to Amendment No. 1 to Contribution Deferral Agreement 

YRC Inc., USF Holland LLC, New Penn Motor Express, LLC and USF Reddaway LLC 

Second Amended and Restated Contribution Deferral Agreement dated as of January 31, 2014 

 
			
	 SOUTHWESTERN PENNSYLVANIA AND WESTERN MARYLAND AREA TEAMSTERS AND EMPLOYERS PENSION FUND, as a Fund

 

	By:	 	 /s/ Ed Kearns

	Name:	 	Ed Kearns
	Title:	 	Chairman Board of Trustee
		
	By:	 	 /s/ Vito Dragone, Jr.

	 Name:
	 	Vito Dragone, Jr.
	 Title:
	 	Secretary-Treasurer

 Signature Page to Amendment No. 1 to Contribution Deferral Agreement 

YRC Inc., USF Holland LLC, New Penn Motor Express, LLC and USF Reddaway LLC 

Second Amended and Restated Contribution Deferral Agreement dated as of January 31, 2014 

 
			
	TEAMSTERS PENSION TRUST FUND OF PHILADELPHIA AND VICINITY, as a Fund
		
	By:	 	 /s/ MARIA SCHEELER

	Name:	 	MARIA SCHEELER
	Title:	 	EXECUTIVE DIRECTOR/ADMINISTRATOR

 Signature Page to Amendment No. 1 to Contribution Deferral Agreement 

YRC Inc., USF Holland LLC, New Penn Motor Express, LLC and USF Reddaway LLC 

Second Amended and Restated Contribution Deferral Agreement dated as of January 31, 2014 

			
	 TRUCKING EMPLOYEES OF NORTH JERSEY

WELFARE FUND INC. – PENSION FUND

		
	By:	 	 /s/ Robert Blumenfeld

	Name:	 	Robert Blumenfeld
	Title:	 	Fund Administrator

 Signature Page to Amendment No. 1 to Contribution Deferral Agreement 

YRC Inc., USF Holland LLC, New Penn Motor Express, LLC and USF Reddaway LLC 

Second Amended and Restated Contribution Deferral Agreement dated as of January 31, 2014 

 
			
	WESTERN CONFERENCE OF TEAMSTERS PENSION TRUST FUND, as a Fund
		
	By:	 	 /s/ Michael M. Sander

	Name:	 	Michael M. Sander
	Title:	 	Administrative Manager

 Signature Page to Amendment No. 1 to Contribution Deferral Agreement 

YRC Inc., USF Holland LLC, New Penn Motor Express, LLC and USF Reddaway LLC 

Second Amended and Restated Contribution Deferral Agreement dated as of January 31, 2014 

 
			
	 WESTERN CONFERENCE OF TEAMSTERS SUPPLEMENTAL BENEFIT TRUST

as a Fund

		
	By:	 	 /s/ Walter Maestas

	Name:	 	Walter Maestas
	Title:	 	Chairman

 Signature Page to Amendment No. l to Contribution Deferral Agreement 

YRC Inc., USF Holland LLC, New Penn Motor Express, LLC and USF Reddaway LLC 

Second Amended and Restated Contribution Deferral Agreement dated as of January 31, 2014 

 
			
	TEAMSTERS LOCAL 641 PENSION FUND,
	as a Fund
		
	By:	 	 /s/ William Cunningham

	Name:	 	William Cunningham
	Title:	 	Chairman

 Signature Page to Amendment No. 1 to Contribution Deferral Agreement 

YRC Inc., USF Holland LLC, New Penn Motor Express, LLC and USF Reddaway LLC 

Second Amended and Restated Contribution Deferral Agreement dated as of January 31, 2014 

 
			
	Suburban Teamsters of Northern Illinois Pension Fund,
	as a Fund
		
	By:	 	 /s/ Timothy Custer

	Name:	 	Timothy Custer
	Title:	 	Trustee

 Signature Page to Amendment No. 1 to Contribution Deferral Agreement 

YRC Inc., USF Holland LLC, New Penn Motor Express, LLC and USF Reddaway LLC 

Second Amended and Restated Contribution Deferral Agreement dated as of January 31, 2014 

			
	 ROAD CARRIERS LOCAL707 PENSION FUND

as a Fund

		
	By:	 	/s/ Kevin McCaffrey
	Name:	 	Kevin McCaffrey
	Title:	 	 Fund Administrator

 Signature Page to Amendment No. 1 to Contribution Deferral Agreement 

YRC Inc., USF Holland LLC, New Penn Motor Express, LLC and USF Reddaway LLC 

Second Amended and Restated Contribution Deferral Agreement dated as of January 31, 2014  

 
			
	Teamsters Joint Council No. 83 of Virginia Pension Fund, as a Fund
		
	By:	 	/s/ Michael M. McCall
	Name:	 	Michael M. McCall
	Title:	 	Executive Director

 Signature Page to Amendment No. l to Contribution Deferral Agreement 

YRC Inc., USF Holland LLC, New Penn Motor Express, LLC and USF Reddaway LLC 

Second Amended and Restated Contribution Deferral Agreement dated as of January 31, 2014 

  

			
	 HAWAII TRUCKERS-TEAMSTERS UNION

PENSION FUND

		
	By:	 	/s/ Rohan Kozuma    
	Name:	 	Rohan Kozuma    
	Title:	 	Trustee

 
			
		
	Name:	 	/s/ Ralph Hasegawa
	Name:	 	Ralph Hasegawa
	Title:	 	Trustee

 Signature Page to Amendment No. 1 to Contribution Deferral Agreement 

YRC Inc., USF Holland LLC, New Penn Motor Express, LLC and USF Reddaway LLC 

Second Amended and Restated Contribution Deferral Agreement dated as of January 31, 2014 

 
			
	INTERNATIONAL ASSOCIATION OF MACHINISTS MOTOR CITY PENSION FUND, as a Fund
		
	By:	 	 Michael J. Mills

	Name:	 	MICHAEL J. MILLS
	Title:	 	ATTORNEY

  
 Signature Page to Second Amended and
Restated Contribution Deferral Agreement Fund 

 Schedule to Amendment No. 1 of the Second Amended and Restated Contribution Deferral
Agreement 
 Schedule 2.01 

Deferred Pension Payments, Deferred Interest and Pension Interest Rate 

 

											
	Fund	 	Deferred Pension
Payments as of the First
Amendment Effective
Date	 	 	Deferred Interest as of
the First Amendment
Effective Date	 	 	 Pension Interest Rate

	CENTRAL
PENNSYLVANIA
TEAMSTER PENSION
FUND	 	 	$4,156,089.67	 	 	 	$0	 	 	0.25% plus the rate authorized by 29 U.S.C. Section 1132(g)(2), which is prescribed under Section 6621 of the Internal Revenue Code of 1986.*
	CENTRAL STATES,
SOUTHEAST AND
SOUTHWEST AREAS
PENSION FUND	 	 	$50,735,320.88	 	 	 	$0	 	 	0.25% plus the greater of (i) 7.5% and (ii) 2% plus the prime interest rate established by JPMorgan Chase Bank, N.A.
	EMPLOYER –TEAMSTERS
LOCAL NOS. 175/505
PENSION TRUST FUND	 	 	$85,345.46	 	 	 	$0	 	 	0.25% plus 2% plus the prime interest rate established by JPMorgan Chase Bank, N.A.
	FREIGHT DRIVERS AND
HELPERS LOCAL 557
PENSION FUND	 	 	$558,481.75	 	 	 	$0	 	 	0.25% plus 10%
	HAGERSTOWN MOTOR
CARRIERS AND
TEAMSTERS PENSION
PLAN	 	 	$315,223.07	 	 	 	$0	 	 	0.25% plus 18%

  

	* 	 The rate used shall be for debtors that owe in excess of $100,000.

  
 30 

											
	Fund	 	Deferred Pension
Payments as of the First
Amendment Effective
Date	 	 	Deferred Interest as of
the First Amendment
Effective Date	 	 	 Pension Interest Rate

	HAWAII TRUCKERS-
TEAMSTERS UNION
PENSION FUND	 	 	$26,239.56	 	 	 	$0	 	 	0.25% plus 10%
	I.B of T UNION LOCAL NO.
710 PENSION FUND	 	 	$4,980,545.99	 	 	 	$0	 	 	0.25% plus 2% plus the prime interest rate established by JPMorgan Chase Bank N.A.
	INTERNATIONAL
ASSOCIATION OF
MACHINISTS MOTOR CITY
PENSION FUND	 	 	$51,114.91	 	 	 	$0	 	 	0.25% plus 7%
	LOCAL 705
INTERNATIONAL
BROTHERHOOD OF
TEAMSTERS PENSION
FUND	 	 	$0	 	 	 	$0	 	 	N/A
	MANAGEMENT LABOR
WELFARE AND PENSION
FUNDS LOCAL 1730, 1L.A.	 	 	$186,865.17	 	 	 	$0	 	 	0.25% plus 8%
	MID-JERSEY TRUCKING
IND. & TEAMSTERS
LOCAL 701 PENSION FUND	 	 	$223,241.14	 	 	 	$0	 	 	0.25% plus 2% plus the prime interest rate established by JPMorgan Chase Bank, N.A.
	NEW ENGLAND
TEAMSTERS & TRUCKING
INDUSTRY PENSION FUND	 	 	$0	 	 	 	$0	 	 	N/A

  
 31 

											
	Fund	 	Deferred Pension
Payments as of the First
Amendment Effective
Date	 	 	Deferred Interest as of
the First Amendment
Effective Date	 	 	 Pension
Interest Rate

	NEW YORK STATE
TEAMSTERS CONFERENCE
PENSION AND
RETIREMENT FUND	 	 	$0	 	 	 	$0	 	 	N/A
	ROAD CARRIERS LOCAL
707 PENSION FUND	 	 	$2,576,307.60	 	 	 	$0	 	 	0.25% plus 10%
	SOUTHWESTERN
PENNSYLVANIA AND
WESTERN MARYLAND
TEAMSTERS &
EMPLOYERS PENSION
FUND	 	 	$18,177.14	 	 	 	$0	 	 	0.25% plus 18%
	SUBURBAN TEAMSTERS
OF IL. PENSION FUND	 	 	$559,561.29	 	 	 	$0	 	 	0.25% plus 12%
	TEAMSTERS JC 83
PENSION FUND	 	 	$351,869.27	 	 	 	$0	 	 	0.25% plus 18%
	TEAMSTERS LOCAL 445
PENSION FUND	 	 	$0	 	 	 	$0	 	 	N/A
	TEAMSTER LOCAL 617
 PENSION FUND
	 	 	$0	 	 	 	$0	 	 	N/A

  
 32 

											
	Fund	 	Deferred Pension
Payments as of the First
Amendment Effective
Date*	 	 	Deferred Interest as of
the First Amendment
Effective Date*	 	 	 Pension
Interest Rate

	TEAMSTER LOCAL 639
EMPLOYER’S PENSION
TRUST	 	 	$0	 	 	 	$0	 	 	N/A
	TEAMSTER LOCAL 641
PENSION FUND	 	 	$1,396,075.77	 	 	 	$0	 	 	0.25% plus 10%
	TEAMSTERS PENSION
TRUST FUND OF
PHILADELPHIA AND
VICINITY	 	 	$954,939.18	 	 	 	$0	 	 	0.25% plus 7.5%
	TRUCKING EMPLOYEES
OF NORTH JERSEY
WELFARE FUND INC. –
PENSION FUND	 	 	$239,692.45	 	 	 	$0	 	 	0.25% plus 10%
	WESTERN CONFERENCE
OF TEAMSTERS PENSION
TRUST	 	 	$7,099,776.11	 	 	 	$0	 	 	7%
	WESTERN CONFERENCE
OF TEAMSTERS
SUPPLEMENTAL BENEFIT
TRUST FUND	 	 	$606,782.99	 	 	 	$0	 	 	7%
	WESTERN
 PENNSYLVANIATEAMSTERS AND
EMPLOYERS PENSION
FUND
	 	 	$0	 	 	 	$0	 	 	N/A
		 	  
	  
	 	 	  
	  
	 	 	
	Total	 	 	$75,121,649.40	 	 	 	$0	 	 	

  
 33

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