First Amendment, dated as of November 1, 2018, to the Landstar System, Inc. Supplemental Executive Retirement Plan (as amended and restated as of January 1, 2015)

Exhibit 10.3

First Amendment to the

Landstar System, Inc. Supplemental Executive Retirement Plan

(as Amended and Restated effective January 1, 2015)

Landstar System Holdings, Inc. (the “Employer”) hereby makes this Amendment effective as stated herein.

WHEREAS, the Employer has previously established the Landstar System, Inc. Supplemental Executive Retirement Plan (the “Plan”) primarily for the benefit of a select group of management or highly compensated employees; and

WHEREAS, pursuant to Section 6.03(A) of the Plan, the Employer is authorized to amend the Plan; and

NOW, THEREFORE, pursuant to Section 6.03(A) of the Plan, the following amendment is hereby made and shall be effective as stated herein.

2.04 Matching Contributions. During each Taxable Year (or other computation period, if applicable, pursuant to Item 2.04(h)), the Employer will contribute a Matching Contribution equal to (choose (a) or (i) or choose one or more of (b) – (h)):

Note: Specify Elective Deferrals subject to match as a percentage of Compensation or a dollar amount.

2.06 Allocation Conditions. To receive an allocation of Employer Contributions, a Participant must satisfy the following conditions during the Taxable Year (choose (a) or choose one or both of (b) and (c)):

[    ] (a) No allocation conditions.

[    ] (b) Year of continuous service. The Participant must remain in continuous employment with the Employer (or render contract service to the Employer) for the entire Taxable Year.

[X] (c) (Specify): A Participant must make Elective Deferrals to this Plan during a payroll period in order to be eligible to receive an allocation of Matching Contributions for the payroll period. With regard to any “true-up” Matching Contribution made pursuant to Item 2.04(h), a Participant must make Elective Deferrals to this Plan during the applicable computation period in order to be eligible to receive an allocation of a “true-up” Matching Contribution for the computation period.

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4.01 Payment Events/Elections. The Plan payment events are (choose one or more of (a) through (i) as applicable):

Note: The Employer must elect the Plan permitted payment events. The Employer may elect all of the 409A permitted events or limit the payment events, but the Employer must elect at least one payment event. If the Plan is a separation pay plan, the Employer must elect 4.01(a) and the Employer also may elect 4.01(b). If the Plan permits initial payment elections, change payment elections, or both, as to any or all of the Plan permitted payment events, the Employer should elect 4.01(d)(iv), (e)(ii) and (i) as applicable. The Employer also should elect under 4.02(A) and 4.02(B) as to who has election rights and to specify any limitations on such rights. If the Plan will not offer any initial or change payment elections, the Employer should not elect 4.01(d)(iv), (e)(ii) or (i). If the Plan will not offer any initial payment elections the Employer also should elect 4.02(A)(a). If the Plan will not offer change payment elections, the Employer also should elect 4.02(B)(a).

[X] (a) Separation from Service. Applies on and after the effective date of this restated Plan.

[X] (b) Death.

[X] (c) Disability.

[X] (d) Specified Time. The Plan permits payment to a Participant at a Specified Time (choose one of (i)—(iv)): (Applies on and after the effective date of this restated Plan)

[    ] (i) Forfeiture Lapse. At the time that the Deferred Compensation no longer is subject to a Substantial Risk of Forfeiture.

[    ] (ii) Stated Age. Upon attainment of age:                      (specify age).

[X] (iii) (Specify): On: At the Participant’s election, one of the following: (1) a specified date; (2) one year after Separation from Service; or (3) the later of Separation from Service or a specified date. (e.g., January 1, 2015).

[X] (iv) Election. In accordance with a Participant or Employer election under 4.02(A) or (B).

Note: The Employer must approve any Participant payment election. See Section 4.06. Payment at a Specified Time will be a lump-sum payment.

[    ] (e) Fixed Schedule. The Plan Permits payment to a Participant in accordance with the following Fixed Schedule (choose one of (i) or (ii)):

[    ] (i) Schedule:                                                                                                                                                                     .

[    ] (ii) Election. In accordance with a Participant or Employer election under 4.02(A) or (B).

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Note: The Employer must approve any Participant payment election. See Section 4.06. Payment pursuant to a Fixed Schedule will be installments or an annuity commencing at a specific time.

Note: The Employer in (h) may modify any of (a)-(g) but only if such modifications are consistent with Code §409A.

Note: The Employer must approve any Participant payment election. See Section 4.06.

IN WITNESS WHEREOF, the Employer has caused this instrument to be executed as of the date specified below.

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