Compensation Arrangement for Timothy L. Stubbs as Vice President – Dedicated Operations at FFE Transportation Services, Inc.
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Summary
This agreement outlines the compensation package for Timothy L. Stubbs as Vice President – Dedicated Operations at FFE Transportation Services, Inc., effective January 25, 2010. Mr. Stubbs will receive an annual base salary of $128,000 and is eligible to participate in the company's incentive bonus, stock incentive, and phantom stock plans. He may also join various benefit programs, including health, disability, life insurance, and retirement plans. Additional perks include a car allowance, mileage reimbursement, and a Christmas bonus equal to one week’s salary.
EX-10.20 7 exh10_20.htm COMPENSATION ARRANGEMENTS FOR TIMOTHY L. STUBBS exh10_20.htm
EXHIBIT 10.20
Compensation Arrangements for Timothy L. Stubbs
January 25, 2010
The following is a summary of the compensation arrangement effective January 25, 2010 for Timothy L. Stubbs in his capacity as Vice President – Dedicated Operations for FFE Transportation Services, Inc., a subsidiary of the Company.
Annual Base Salary. $128,000
Annual and Long-Term Incentive Compensation Plans. Participation in the Company’s Incentive Bonus Plan, the 2005 Stock Incentive Plan and the Managers Phantom Stock Plan.
Benefit Plans and Other Arrangements. Mr. Stubbs is eligible to participate in the Company’s broad-based programs including health, disability and life insurance programs, the Frozen Food Express Industries, Inc. 401 (k) Savings Plan, and the FFE Transportation Services, Inc. 401(k) Wrap Plan. He is also eligible to participate in the Key Employee Supplemental Medical Plan.
Perquisites. Mr. Stubbs is eligible to participate in certain programs offered by the Company, including automobile mileage reimbursement for business purposes plus a $500 per month automobile allowance, and a Christmas bonus equal to one week’s annual base salary.
