Document:

Director Compensation Plan

 Exhibit 10.53.1 

 
 YRC WORLDWIDE INC. 

RESTRICTED STOCK UNIT AGREEMENT 

FOR NON-EMPLOYEE DIRECTOR 
  

			
	PARTICIPANT:	  	[                    ]
		
	DATE OF GRANT:	  	[date]
		
	TOTAL NUMBER OF UNITS:	  	             Units
		
	VESTING SCHEDULE:	  	1/3rd of the Units will vest on each of the date of grant, the first anniversary of the date of grant, and the second anniversary of the date of grant

 GRANT OF RESTRICTED STOCK
UNITS 
 In accordance with the YRC Worldwide Inc. Director Compensation Plan, the Board of Directors of YRC
WORLDWIDE INC., a Delaware corporation (the “Company”) hereby grants to the above-named Participant rights to receive the above number of shares of the Company’s $0.01 par value per share common stock
in accordance with the Vesting Schedule described above on a one share per one unit basis and subject to the other terms and conditions described in this Restricted Stock Unit Agreement (this “Agreement”). 

By your acceptance of the Restricted Stock Units set forth in this Agreement, you agree that the Restricted Stock Units are granted under and governed by
the terms of the YRC Worldwide Inc. 2011 Incentive and Equity Award Plan or any successor thereto (the “Plan”), this Agreement, and the Terms and Conditions of Restricted Stock Unit Agreements for Non-Employee Directors attached to this
Agreement; you acknowledge that you have received, reviewed and understand the Plan, including the provisions that the Compensation Committee’s decision on any matter arising under the Plan is conclusive and binding; and you agree that this
Agreement amends and supersedes any other agreement or statement, oral or written, in its entirety regarding the vesting or holding period of the Restricted Stock Units. 

 

									
	YRC WORLDWIDE INC.	 		 	PARTICIPANT
				
	By	 	  
	 		 	  

					
	Title	 	  
	 		 	Print	 	  

 You agree that your acceptance of this Agreement may be evidenced either by your signature above or by your electronic
acceptance through the Company’s award administrator’s website (as of the date of grant, the administrator is Fidelity). 

 YRC WORLDWIDE INC. 

TERMS AND CONDITIONS 

OF 
 RESTRICTED STOCK UNIT AGREEMENTS FOR NON-EMPLOYEE DIRECTORS 

These Terms and Conditions are applicable to Restricted Stock Units (the “Units”) granted to Non-Employee Directors pursuant to
the YRC Worldwide Inc. 2011 Incentive and Equity Award Plan or any successor thereto (the “Plan”). 
  

	1.	Acceleration of Vesting. Notwithstanding the provisions of the vesting schedule provided in the Restricted Stock Unit Agreement, the vesting of the underlying
shares for each Unit shall be accelerated and all units shall vest upon the following circumstances: 

  

	 	1.1	Death or Permanent and Total Disability. If the Participant dies or is deemed to be “permanently and totally disabled” (as defined herein) while
serving as a director of the Company and prior to the time the Units vest, the Units shall become fully vested and convert to shares of YRC Worldwide Inc. common stock. For purposes of this Section, the Participant shall be considered
“permanently and totally disabled” if the Participant is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected
to last for a continuous period of not less than 12 months or is, by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than
12 months, receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Participant’s employer. The existence of a permanent and total disability shall be
evidenced by such medical certification as the Secretary of the Company shall require and as the Committee approves. 

  

	 	1.2	Change of Control of the Company. If a “Change of Control” of the Company occurs while the Participant is serving as a director of the Company prior to
the time the Units vest, the Units shall become fully vested and convert to shares of YRC Worldwide Inc. common stock. For the purposes of this Section, a “Change of Control” shall be deemed to have taken place if:

  

	 	1.2.1	a third person, including a “group” as defined in Section 13(d)(3) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
purchases or otherwise acquires shares of the Company after the date of grant that, together with stock held by such person or group, constitutes more than 50 percent of the total fair market value or total voting power of the stock of the Company;

  

	 	1.2.2	a third person, including a “group” as defined in Section 13(d)(3) of the Exchange Act purchases or otherwise acquires (or has acquired during the
12-month period ending on the date of the most recent acquisition by such person or group) shares of the Company after the date of grant and as a result thereof becomes the beneficial owner of shares of the Company having 35 percent or more of the
total voting power of the stock of the Company; or 

  

	 	1.2.3	 as the result of, or in connection with any cash tender or exchange offer, merger or other business combination, or contested election, or any

	 	
combination of the foregoing transactions, a majority of the Board of Directors of the Company is replaced during any 12-month period by directors whose appointment or election is not endorsed by
a majority of the Board of Directors of the Company before the date of such appointment or election. 

 The
forgoing provisions are intended to meet the definition of “change in control” of the regulations issued under Section 409A of the Internal Revenue Code of 1986, as amended, and shall be interpreted in accordance with such
regulations. 
  

	 	1.3	Termination from the Board. If the Participant serves his/her full term as a member of the Board of Directors of the Company but either chooses not to stand for
re-election or is not re-elected prior to the time the Units vest, the unvested Units shall continue to vest in accordance with the vesting schedule provided in the Restricted Stock Unit Agreement and shall be converted to shares of the
Company’s common stock and shall be delivered to the Participant at the time of vesting. If the Participant resigns prior to his/her full term or is involuntarily removed from the Board, any unvested Units shall be forfeited (unless the Board
determines otherwise). 

  

	2.	Delivery of Shares. Unless the Participant has timely elected to defer receipt of his/her Units pursuant to a deferral election on file with the Company’s
Secretary, the Company shall issue to the Participant immediately following the applicable vesting date, one share of common stock of YRC Worldwide Inc. for each vested Unit. 

 

	3.	Non-transferability. No rights under the Restricted Stock Unit Agreement shall be transferable otherwise than by will, the laws of descent and distribution or
pursuant to a Qualified Domestic Relations Order (“QDRO”), and, except to the extent otherwise provided herein, the rights and the benefits of the Restricted Stock Unit Agreement may be exercised and received, respectively, during the
lifetime of the Participant only by the Participant or by the Participant’s guardian or legal representative or by an “alternate payee” pursuant to a QDRO. 

 

	4.	Limitation of Liability. Under no circumstances will the Company be liable for any indirect, incidental, consequential or special damages (including lost
profits) of any form incurred by any person, whether or not foreseeable and regardless of the form of the act in which such a claim may be brought, with respect to the Plan or the Company’s role as Plan sponsor. 

 

	5.	Units Subject to Plan. A copy of the Plan is included with the Restricted Stock Unit Agreement. The provisions of the Plan as now in effect and as the Plan may
be amended in the future (but only to the extent such amendments are allowed by the provisions of the Plan) are hereby incorporated in the Restricted Stock Unit Agreement by reference as though fully set forth herein. Upon request to the Secretary
of the Company, the Participant may obtain a copy of the Plan and any amendments. 

  

	6.	Definitions. Unless redefined herein, all terms defined in the Plan have the same meaning when used as capitalized terms in these Terms and Conditions.

  

	7.	Compliance with Regulatory Requirements. Notwithstanding anything else in the Plan, the shares received upon vesting of the Units may not be sold, pledged or
hypothecated unless the Company is in compliance with all regulatory requirements regarding registration of the Shares to be issued under the terms of the Plan. 

 

	8.	 Deferred Compensation. The Restricted Stock Unit Agreements are intended to meet the requirements of Section 409A of the Internal
Revenue Code of 1986, as amended (the “Code”), 

	 	
and may be administered in a manner that is intended to meet those requirements (including any exemptions thereunder) and shall be construed and interpreted in accordance with such
intent. To the extent that an award or payment, or the settlement or deferral thereof, is subject to Section 409A of the Code, except as the Committee otherwise determines in writing, the award shall be granted, paid, settled or deferred
in a manner that will meet the requirements of Section 409A of the Code, including regulations or other guidance issued with respect thereto, such that the grant, payment, settlement or deferral shall not be subject to the excise tax applicable
under Section 409A of the Code. Any provision of the Agreements that would cause the award or the payment, settlement or deferral thereof to fail to satisfy Section 409A of the Code shall be amended to comply with Section 409A of
the Code on a timely basis, which may be made on a retroactive basis, in accordance with regulations and other guidance issued under Section 409A of the Code.Form of Director Share Unit Agreement

 Exhibit 10.53.2 

YRC WORLDWIDE INC. 
 DIRECTOR COMPENSATION PLAN 

Effective August 30, 2011 

This Director Compensation Plan (this “Plan”) of YRC Worldwide Inc., a Delaware corporation (the “Company”), is adopted effective as
of the date first set forth above and amends, restates and replaces any and all prior plans relating to the compensation payable to the Company’s directors. 
  

	1.	DEFINITIONS, ADMINISTRATION AND CONSTRUCTION 

 

	 	(a)	The following capitalized terms used in this Plan shall have the following meanings given to each of them in this Section 1(a): 

“Board” means the Board of Directors of the Company. 
 “Committee” means any committee of the Board. 
 “Common Stock”
means Company Common Stock, $0.01 par value per share. 
 “Compensation Committee” means the Compensation Committee of
the Board. 
 “Equity Award” means an award of Common Stock or Common Stock derivatives to a Participant pursuant to
the terms of this Plan and any equity incentive plan maintained by the Company. 
 “Participant” means a director of
the Company who is not an employee of the Company. 
 “Secretary” means the Secretary of the Company. 

 

	 	(b)	 The Compensation Committee shall administer this Plan. The Compensation Committee may adopt rules for the administration of this Plan as it may deem
necessary or advisable. The Compensation Committee has full and absolute discretion in the exercise of each and every aspect of the rights, power, authority and duties retained or granted it under this Plan, including the authority to determine all
facts, to interpret this Plan, to apply the terms of this Plan to the facts determined, to make decisions based upon those facts and to make any and all other decisions required of it by this Plan, such as the right to benefits, the correct amount
and form of benefits, the determination of any appeal, the review and correction of the actions of any prior administrative committee, and the other rights, powers, authority and duties specified in this paragraph and elsewhere in this Plan.
Notwithstanding any provision of law, or any explicit or implicit provision of this document, any action taken, or finding, interpretation, ruling or decision made by the Compensation Committee in the exercise of any of its

  
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rights, powers, authority or duties under this Plan shall be final and conclusive as to all parties, including without limitation all Participants, former Participants and beneficiaries,
regardless of whether the Compensation Committee or one or more of its members may have an actual or potential conflict of interest with respect to the subject matter of the action, finding, interpretation, ruling or decision. No final action,
finding, interpretation, ruling or decision of the Compensation Committee shall be subject to de novo review in any judicial proceeding. No final action, finding, interpretation, ruling or decision of the Compensation Committee may be set aside
unless it is held to have been arbitrary and capricious by a final judgment of a court having jurisdiction with respect to the issue. 

  

	 	(c)	Except as expressly stated to the contrary, references in this plan to “including” mean “including, without limitation” and to “persons”
mean natural persons and legal entities. 

  

	2.	RETAINERS. 

  

	 	(a)	From time to time, the Board (or at its direction, the Compensation Committee) may set retainers for Participants for their service as a member of the Board or one or
more of the Board’s Committees. The current retainers for Participants are listed on Exhibit A. 

  

	 	(b)	Annual retainers shall be paid in advance in quarterly installments on January 1, April 1, July 1 and October 1 (or on the first business
day immediately following such payment date). A Participant who joins the Board mid-term shall receive a pro-rated retainer based on the number of days served during his/her initial term. The initial payment shall be made as soon as administratively
practicable following the Participant’s commencement as a member of the Board. 

  

	3.	MEETING FEES AND EXPENSE REIMBURSEMENTS. 

No additional compensation shall be paid for attending or participating in Board or Committee meetings. Participants will be reimbursed
for reasonable business expenses, including travel expenses, incurred in the performance of their duties for the Company, including, without limitation, traveling to meetings. 

 

	4.	EQUITY AWARDS. 

 From time to time, the Board (or at its direction, the Compensation Committee) may make grants of Equity Awards to Participants as compensation for their service on the Board with such terms and
conditions as are stated in the grant. The grant shall be made pursuant to this Plan and any equity incentive plan maintained by the Company. The current equity grants are summarized on Exhibit A. 

  
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	5.	DEFERRAL OF EQUITY AWARDS. 

 

	 	(a)	Pursuant to a written election (a “Deferral Election”), a Participant may defer receipt of all or a portion of his/her Equity Awards, in accordance with this
Section 5 and the rules prescribed by the Compensation Committee. The Company (or its designee) shall maintain an account for each Participant to record any Equity Awards so deferred. 

 

	 	(b)	A Participant must make a written Deferral Election no later than December 31 of the year preceding the year in which the Participant’s services are performed
which give rise to the Equity Award (or such other time as permitted under Section 409A of the Internal Revenue Code of 1986, as amended, and applicable Internal Revenue Service guidance and Treasury Regulations issued thereunder (“Section
409A”)). For example, a Deferral Election for Equity Awards relating to services performed in 2012 must be made no later than December 31, 2011. Notwithstanding the foregoing, Participants who have become a director during a calendar year may
make an election for the remaining portion of that year within 30 days of their election or appointment as a director (or such other time as permitted under Section 409A). Such election shall only apply with respect to services performed after the
election. A form of the annual election is included in Exhibit B. This election must be delivered to the Secretary. 

  

	 	(c)	Upon the termination of the deferral period selected by the Participant, the Company shall issue and pay to the Participant the deferred shares and deferred dividends
credited to the Participant’s deferred account (if any) within 30 days of such termination. 

  

	 	(d)	If the Company declares a dividend on its Common Stock, the Company shall create an account on the books of the Company reflecting the cash value of the dividend based
upon the number of shares reflected in Participant’s stock account. No interest or other additions shall be credited on deferred dividends. 

  

	 	(e)	If a Participant dies, the Company shall pay any amounts deferred under this Plan to the beneficiary or beneficiaries, if any, that the Participant designates to the
Secretary in writing during the Participant’s lifetime. During his/her lifetime, the Participant may revoke or change any designation of beneficiary by delivering the revocation or designation in writing to the Secretary. If no beneficiary is
designated or survives the Participant, then the accounts shall be issued and paid to the Participant’s surviving spouse (or, if none, personal representative.) 

 

	 	(f)	The Participant understands that all Equity Awards deferred hereunder (i.e., the balance of his/her accounts) are unfunded, will be represented by appropriate
bookkeeping entries and will be paid from the general assets of the Company when due pursuant to the terms of this Plan. Any such amounts due the Participant shall be unsecured, general obligations of the Company. 

  
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	 	(g)	This Section 5 shall be interpreted and administered in a manner so that any amount or benefit payable hereunder shall be paid or provided in a manner that is either
exempt from or compliant with the requirements Section 409A. Neither the Company nor its directors, officers, executives, or advisers shall be held liable for any taxes, interest, penalties or other monetary amounts owed by a Participant as a result
of the application of Section 409A. Notwithstanding anything in this Plan to the contrary, all payments and benefits under this Agreement that would constitute non-exempt “deferred compensation” for purposes of Section 409A and that would
otherwise be payable or distributable hereunder by reason of the Participant’s termination of service on the Board, will not be payable or distributable to the Participant unless the circumstances giving rise to such termination of service meet
any description or definition of “separation from service” in Section 409A (without giving effect to any elective provisions that may be available under such definition). If this provision prevents the payment or distribution of any amount
or benefit, such payment or distribution shall be made on the date, if any, on which an event occurs that constitutes a Section 409A-compliant “separation from service.” 

 

	6.	GENERAL 

  

	 	(a)	Except by the laws of decent and distribution in the event of a Participant’s death, the rights and benefits of this Plan may not be assigned or otherwise
transferred. A Participant shall cease to be a Participant under this Plan upon the Participant’s termination of his/her directorship with the Company whether by death, disability, retirement, resignation or removal. 

 

	 	(b)	Any notice to the Company that this Plan requires shall be in writing, addressed to the Secretary and be effective when the Secretary receives the notice.

  

	 	(c)	This Plan and any determination or action taken respecting this Plan shall be governed by and construed in accordance with the laws of the State of Delaware, without
reference to its law of conflicts of law. 

  
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 Exhibit A 

Annual Retainers 

Board membership = $75,000 ($125,000 for the Chairperson of the Board) 
 Additional retainer for Audit/Ethics Committee Chairperson = $15,000 
 Additional retainer for
other Committee Chairpersons = $10,000 
 Equity Awards 

Following (i) the completion of the reverse merger of the Company into a subsidiary of the Company in which the Company survives
the merger (the “Merger”), (ii) the Board’s adoption of a new equity incentive plan at the time of or following such Merger, and (iii) the effective date of a reverse stock split of the Company’s common stock following
the Merger, each Participant shall receive a grant of restricted stock units (“RSUs”) equal to $100,000 divided by $0.1134 (the conversion ratio of the Company’s Series A Convertible Senior Secured Notes), proportionately adjusted to
reflect the reverse stock split. The actual date of grant shall be determined by the Compensation Committee. One-third (1/3) of the RSUs will be vested on the grant date and the remaining RSUs will vest pro rata on the 1st and 2nd anniversaries of the date of grant. 
 With respect to the period beginning September 15, 2011, and ending on the date of the annual meeting of stockholders of the Company held in 2012, each Participant shall receive a grant of RSUs (pro
rated for partial service during such period) equal to $83,333 divided by the 30 day average closing price preceding the date of grant. Such grant shall be made on the first business day following the annual meeting of stockholders of the Company
held in 2012. One-third (1/3) of the RSUs will be vested on the grant date and the remaining RSUs will vest pro rata on the 1st and 2nd anniversaries of the date of grant. 
 On the first business day following the annual meeting of stockholders of the Company held in 2013 and each year thereafter, each Participant shall receive a grant of RSUs (pro rated for partial service
during the immediately preceding Board term) equal to $100,000 divided by the 30 day average closing price preceding the date of grant. One-third (1/3) of the RSUs will be vested on the grant date and the remaining RSUs will vest pro rata on
the 1st and 2nd anniversaries of the date of grant. 

Termination of Board Membership: 
  

	 	•	 	 If a Participant serves his full term as a member of the Board of Directors of the Company but either chooses not to stand for re-election or is not
re-elected prior to the time all his RSUs are fully vested, the Participant’s non-vested RSUs shall continue to vest in accordance with the regular vesting schedule applicable to such RSUs and shall be converted to shares of the Company’s
common stock and shall be delivered to the Participant at the time of vesting. The Participant also shall be entitled to receive a full RSU award with respect to his or her most recent term of service. 

	 	•	 	 If a Participant’s service as a member of the Board of Directors ends due to the Participant’s death or disability, the Participant’s
non-vested RSUs shall become vested and shall be converted to shares of the Company’s common stock and delivered to the Participant or beneficiary at the time of such death or disability. The Participant or beneficiary also shall be entitled to
receive a full RSU award with respect to the current term then in effect. 

  

	 	•	 	 If a Participant resigns prior to his/her full term, the Participant’s non-vested RSUs attributable to prior terms of service shall be forfeited
(unless the Board determines otherwise) and the Participant shall be entitled to a pro rated RSU award with respect to his or her final term of service equal in value to: $100,000 times the Participant’s period of service during his or her
final term times one-third (1/3). The Participant will not be entitled to the remaining two-thirds (2/3) of the RSU award attributable to his or her final term of service unless the Board determines otherwise. 

 

	 	•	 	 If a Participant is involuntarily removed from the Board of Directors, the Participant’s non-vested RSUs attributable to prior terms of service
shall be forfeited (unless the Board determines otherwise) and the Participant shall not be entitled to an RSU award with respect to his or her final term of service. 

  
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 Exhibit B 

ANNUAL DIRECTOR EQUITY DEFERRAL ELECTION FORM

 To the Secretary of YRC Worldwide Inc.: 
 I irrevocably elect to defer payment of the following percentage of the Restricted Stock Units awarded to me for the 12-month term beginning in
            (enter year): 
  

	 	 ̈	100%; or 

  

	 	 ̈	            % 

 I further elect to receive payment of my deferred Restricted Stock Units upon the earliest of (i) my death, (ii) my disability, or (iii) the following date: (choose one) 

 

	 	 ̈	My termination of service with the Board for any other reason, except that any Restricted Stock Units that are not vested at my termination of service will be paid when
the Restricted Stock Units otherwise vest; or 

  

	 	 ̈	On the earlier of: (a) January 1,             (enter year) or (b) my termination of service
with the Board for any other reason other reason, except that any Restricted Stock Units that are not vested at my termination of service will be paid when the Restricted Stock Units otherwise vest. 

Notwithstanding the above, I understand that if I resign from the Board prior to the completion of a full term (other than due to disability) or if I am
involuntarily removed from the Board, my non-vested Restricted Stock Units will be forfeited unless the Board determines otherwise. 
 This
election supersedes any prior election that I have may made for the term identified above. This election must be signed and dated no later than December 31 preceding the commencement of the term. 

 

			
	Print
Name:                                        
                                        

	
	Signature:                          
                                         
                
	
	Date:                           
                                         
                        

 2011 ANNUAL DIRECTOR EQUITY
DEFERRAL ELECTION FORM 
 To the Secretary of YRC Worldwide Inc.: 

I irrevocably elect to defer payment of the following percentage of the Restricted Stock Units awarded to me with respect to my period of service
beginning September 15, 2011, and ending on the date of the annual meeting of stockholders of the Company held in 2012. 
  

	 	 ̈	100%; or 

  

	 	 ̈	            % 

 I further elect to receive payment of my deferred Restricted Stock Units upon the earliest of (i) my death, (ii) my disability, or (iii) the following date: (choose one) 

 

	 	 ̈	My termination of service with the Board for any other reason, except that any Restricted Stock Units that are not vested at my termination of service will be paid when
the Restricted Stock Units otherwise vest; or 

  

	 	 ̈	On the earlier of: (a) January 1,             (enter year) or (b) my termination of service
with the Board for any other reason other reason, except that any Restricted Stock Units that are not vested at my termination of service will be paid when the Restricted Stock Units otherwise vest. 

Notwithstanding the above, I understand that if I resign from the Board prior to the completion of a full term (other than due to disability) or if I am
involuntarily removed from the Board, my non-vested Restricted Stock Units will be forfeited unless the Board determines otherwise. 
 This
election supersedes any prior election that I have may made for the term identified above. This election must be signed and dated no later than September 15, 2011. 

 

			
	Print
Name:                                        
                                        

	
	Signature:                          
                                         
                
	
	Date:                           
                                         
                        

  
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