<SEC-DOCUMENT>0001193125-14-106715.txt : 20140320
<SEC-HEADER>0001193125-14-106715.hdr.sgml : 20140320
<ACCEPTANCE-DATETIME>20140319174634
ACCESSION NUMBER:		0001193125-14-106715
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20140314
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20140320
DATE AS OF CHANGE:		20140319

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			XPO Logistics, Inc.
		CENTRAL INDEX KEY:			0001166003
		STANDARD INDUSTRIAL CLASSIFICATION:	TRANSPORTATION SERVICES [4700]
		IRS NUMBER:				030450326
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32172
		FILM NUMBER:		14704887

	BUSINESS ADDRESS:	
		STREET 1:		5 GREENWICH OFFICE PARK
		CITY:			GREENWICH
		STATE:			CT
		ZIP:			06831
		BUSINESS PHONE:		(203) 413-4003

	MAIL ADDRESS:	
		STREET 1:		5 GREENWICH OFFICE PARK
		CITY:			GREENWICH
		STATE:			CT
		ZIP:			06831

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EXPRESS-1 EXPEDITED SOLUTIONS INC
		DATE OF NAME CHANGE:	20060606

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SEGMENTZ INC
		DATE OF NAME CHANGE:	20020125
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d696124d8k.htm
<DESCRIPTION>8-K
<TEXT>
<HTML><HEAD>
<TITLE>8-K</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">
 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 8-K
</B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant
to Section 13 or 15(d) </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): March&nbsp;19, 2014 (March 14, 2014) </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>XPO LOGISTICS, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant as specified in its charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="34%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>001-32172</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>03-0450326</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(I.R.S. Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Five Greenwich Office Park, Greenwich, Connecticut 06831 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal executive offices) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(855) 976-4636 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Registrant&#146;s telephone number, including area code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>N/A </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former name or
former address, if changed since last report) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>New Annual Cash Incentive Award Plan for 2014 </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On March&nbsp;14, 2014, the Compensation Committee of the Board of Directors (the &#147;Compensation Committee&#148;) of XPO Logistics, Inc. (the
&#147;Company&#148;) approved a target annual cash incentive award plan for 2014 (the &#147;2014 Bonus Plan&#148;) under the terms of the XPO Logistics, Inc. Amended and Restated 2011 Omnibus Incentive Compensation Plan (the &#147;Plan&#148;). A
copy of the Plan, which was approved by the Company&#146;s stockholders on May&nbsp;31, 2012, was set forth in the Company&#146;s proxy statement filed with the Securities and Exchange Commission (the &#147;SEC&#148;) on April&nbsp;27, 2012. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Compensation Committee selected each of the Company&#146;s executive officers to participate in the 2014 Bonus Plan, including the following executive
officers (who constitute the Company&#146;s principal executive officer, principal financial officer and the other named executive officers in the Company&#146;s proxy statement filed with the SEC on April&nbsp;26, 2013 (the &#147;2013 Proxy
Statement&#148;)): Bradley S. Jacobs, Chief Executive Officer and Chairman; M. Sean Fernandez, Chief Operating Officer; John J. Hardig, Chief Financial Officer; Gordon E. Devens, Senior Vice President, General Counsel and Secretary; and Scott B.
Malat, Chief Strategy Officer. The Compensation Committee selected the participants in the 2014 Bonus Plan in order to help ensure tax deductibility of bonuses paid to such executive officers under Section&nbsp;162(m) of the Internal Revenue Code of
1986, as amended (the &#147;Code&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The cash bonus awards under the 2014 Bonus Plan are contingent on satisfaction of the requirements set forth in
Section&nbsp;6(e) of the Plan and the terms of the threshold performance goal, which is based upon the Company&#146;s revenue for fiscal year 2014 exceeding the Company&#146;s revenue for fiscal year 2013. The target award under the 2014 Bonus Plan
for each participant is 100% of annual base salary ($495,000 for Mr.&nbsp;Jacobs; $475,000 for Mr.&nbsp;Fernandez; $395,000 for Mr.&nbsp;Hardig; and $300,000 for each of Messrs. Devens and Malat). In the event of achievement of the threshold
performance goal, the amount of the actual cash bonus award paid under the 2014 Bonus Plan will be determined by the Compensation Committee as a percentage of the target amount of an award based on the participant&#146;s achievement of individual or
organizational goals, which would be determined by the Compensation Committee in its sole discretion. Cash bonus awards under the 2014 Bonus Plan may be greater or less than the target award, subject to the individual maximum award limitation
provided in the Plan. The Compensation Committee may exercise negative discretion to eliminate or reduce the actual amount, if any, to be paid to each eligible participant under the 2014 Bonus Plan. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Equity Grants to Named Executive Officers </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On
March&nbsp;14, 2014, the Compensation Committee approved, and the Company made, time-based restricted stock unit (&#147;Time-Based RSU&#148;) and performance-based restricted stock unit (&#147;PRSU&#148;) grants under the Plan to the following named
executive officers in the 2013 Proxy Statement: Mr.&nbsp;Jacobs &#150; 150,593 PRSUs; Mr.&nbsp;Hardig &#150; 44,857 PRSUs; Mr.&nbsp;Devens &#150; 48,062 PRSUs; and Mr.&nbsp;Malat &#150; 57,674 PRSUs and 3,204 Time-Based RSUs. The PRSU awards are
intended to be &#147;qualified performance-based compensation&#148; for purposes of Section&nbsp;162(m) of the Code. The PRSUs vest upon achievement of the following performance goals (subject, in general, to the grantee&#146;s continued employment
by the Company as of the date of determination): (i)&nbsp;the price of a share of the Company&#146;s common stock must trade at or above $60 for 20 consecutive trading days prior to April&nbsp;2, 2018 and (ii)&nbsp;the Company&#146;s adjusted
earnings per share must be at least $2.50 with respect to fiscal 2017. The Time-Based RSUs vest in full on June&nbsp;30, 2015, subject to the grantee&#146;s continued employment by the Company as of such date. The vesting of the foregoing awards
may, in certain circumstances, be accelerated, including prorated acceleration in the event of a termination without Cause or for Good Reason (each, as defined in the Plan)). Under the PRSU grant agreements, in the event that any benefits due or
amounts payable to a grantee in connection with a Change of Control (whether or not pursuant to the PRSU grant agreement) constitute &#147;parachute payments&#148; within the meaning of Section&nbsp;280G of the Code, then any such amounts will be
reduced to avoid triggering the excise tax imposed by Section&nbsp;4999 of the Code, if it would be more favorable to the grantee on a net after-tax basis. In addition, pursuant to the agreements by which the foregoing equity grants were made, each
grantee agreed to resale restrictions prohibiting the sale or transfer prior to the earlier of the grantee&#146;s death, a Change of Control of the Company or September&nbsp;2, 2016 of any shares of the Company&#146;s common stock acquired upon
exercise or settlement of any equity grant received from the Company that was outstanding on or prior to the date of grant of the PRSUs (including any shares of the Company&#146;s common stock acquired upon settlement of the PRSUs). </P>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The foregoing summaries of certain terms and conditions of PRSUs and Time-Based RSUs do not purport to be
complete and are qualified in their entirety by reference to the full text of the Performance-Based Restricted Stock Unit Award Agreement and Restricted Stock Unit Award Agreement by which such grants were made, forms of which are attached to this
report as Exhibits 10.1 and 10.2, respectively, and are incorporated herein by reference. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Amendment and Restatement of Employment Agreement with Named
Executive Officer </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On March&nbsp;14, 2014, the Company and Mr.&nbsp;Devens entered into an Amended and Restated Employment Agreement (the
&#147;Agreement&#148;). The principal terms of the Agreement are described below. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Term</U>. The Agreement provides for
Mr.&nbsp;Devens&#146; employment from his start date on November&nbsp;14, 2011 until September&nbsp;2, 2016. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Salary and Annual
Incentive Bonus</U>. The Agreement provides that the annual base salary for Mr.&nbsp;Devens will be $300,000 and his target annual bonus will be set between 40% and 100% of his base salary. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Initial Equity Incentive Awards</U>. On November&nbsp;14, 2011, pursuant to the Agreement, the Compensation Committee granted
Mr.&nbsp;Devens 125,000 stock options pursuant to the Plan. The stock options vest, subject to Mr.&nbsp;Devens&#146; continued employment by the Company on each vesting date, in five equal annual installments beginning on September&nbsp;2, 2012 and
on each of the following four anniversaries. The stock options expire on November&nbsp;14, 2021. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Benefits and Business Expense
Reimbursement</U>. Under the Agreement, Mr.&nbsp;Devens is eligible to participate in the Company&#146;s benefit plans and programs that are generally available to other members of the Company&#146;s senior executive team and is eligible for
reimbursement of all reasonable and necessary business expenses incurred in the performance of his duties during the term of the Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Relocation and Housing Assistance</U>. Pursuant to the Agreement, the Company provided Mr.&nbsp;Devens with relocation and housing
assistance. Mr.&nbsp;Devens received an aggregate of $120,000 in relocation and housing assistance during 2011 and 2012. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Termination
Events</U>. The Agreement provides that the Company may terminate Mr.&nbsp;Devens&#146; employment during the term with or without Cause (as defined in the Agreement) and Mr.&nbsp;Devens may terminate his employment with or without Good Reason (as
defined in the Agreement). Other than in the event of Mr.&nbsp;Devens&#146; death or disability, the severance payments described below are subject to and conditioned upon Mr.&nbsp;Devens (1)&nbsp;signing an irrevocable waiver and general release
and (2)&nbsp;complying with the restrictive covenants contained in the Agreement (as described below). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In the event that Mr.&nbsp;Devens
dies or becomes disabled during the term of the Agreement, or if the Company terminates his employment without Cause, or if he resigns for Good Reason, either prior to a Change of Control or more than one year following a Change of Control,
Mr.&nbsp;Devens will be entitled to: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">accrued and unpaid salary, bonus and vacation benefits; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">one year&#146;s base salary, at the level in effect on the date of termination, which will be paid in equal installments over the 12 months following the date of termination (subject to any delay required by
Section&nbsp;409A of the Code), which generally will be reduced, dollar-for-dollar, by other earned income; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">medical and dental coverage for a period of 12 months from the date of termination, or, if earlier, until Mr.&nbsp;Devens secures other employment. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If Mr.&nbsp;Devens&#146; employment is terminated during the term of the Agreement as a result of death or disability, all of his unvested
equity-based awards made pursuant to the Agreement will automatically vest. In the event Mr.&nbsp;Devens&#146; employment is terminated either by the Company without Cause or by him for Good Reason </P>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
during the term of the Agreement, a prorated portion of any unvested equity-based awards scheduled to vest on the next vesting date will vest, and the balance of any such equity-based awards will
be forfeited upon the date of termination. If Mr.&nbsp;Devens&#146; employment is terminated by the Company for Cause or he voluntarily resigns without Good Reason during the term of the Agreement, he will forfeit any unvested equity-based awards.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;Cause,&#148; for purposes of the Agreement, generally means Mr.&nbsp;Devens&#146;: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">gross negligence or willful failure to perform his duties; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">commission of any fraud, embezzlement, theft or any act of dishonesty that is injurious to the Company, or any deliberate misappropriation of money or other assets of the Company; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">breach of any term of the Agreement or any agreement governing any equity-based awards or breach of his fiduciary duties; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">any willful act, or failure to act, in bad faith to the detriment of the Company; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">willful failure to cooperate in good faith with a governmental or internal investigation if his cooperation is requested; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">conviction of, or plea of nolo contendere to, a felony or any serious crime; </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">provided that, in cases where
cure is possible, Mr.&nbsp;Devens has a cure period of 15 days before he can be terminated for Cause. Mr.&nbsp;Devens also is subject to certain retroactive Cause provisions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;Good Reason,&#148; for purposes of the Agreement, generally means, without first obtaining the Mr.&nbsp;Devens&#146; written consent:
</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the Company&#146;s material breach of the terms of the Agreement or a reduction in the base salary; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the Company assigns him to a position that is substantially inconsistent with his professional skills and experience level as of his start date; and </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the Company requires him to report to someone other than the Company&#146;s chief executive officer. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Devens&#146; Good Reason termination right is subject to the Company&#146;s 30-day cure period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Change of Control</U>. The Agreement provides that, upon the occurrence of a Change of Control while Mr.&nbsp;Devens is still employed by
the Company, all outstanding equity-based awards held by Mr.&nbsp;Devens will automatically vest. In addition, if Mr.&nbsp;Devens&#146; employment is terminated without Cause within six months prior to, and in anticipation of, a Change of Control,
then all outstanding equity-awards held by him immediately prior to such termination will be deemed to have vested as of such date of termination. In the event that, within a specified period following a Change of Control, Mr.&nbsp;Devens&#146;
employment is terminated by the Company without Cause or he resigns for Good Reason, he will receive: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">accrued and unpaid salary, bonus and vacation benefits; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">(i)&nbsp;a lump-sum cash payment equal to three times the sum of his annual base salary and target annual bonus (which will be no less than 100% of his base salary), each at the level in effect on the date of
termination (subject to any delay required by Section&nbsp;409A of the Code); and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">medical and dental coverage for a period of 36 months from the date of termination. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In order
for Mr.&nbsp;Devens to receive the enhanced Change of Control severance payments and benefits described above, his employment would have to terminate within one year following the Change of Control. Pursuant to the Performance-Based Restricted Stock
Unit Award Agreement dated March&nbsp;14, 2014 between the Company and Mr.&nbsp;Devens, in the event that any benefits due or amounts payable to Mr.&nbsp;Devens in connection with a Change of Control (whether or not pursuant to the Performance-Based
Restricted Stock Unit Award Agreement) constitute &#147;parachute payments&#148; within the meaning of Section&nbsp;280G of the Code, then any such amounts will be reduced to avoid triggering the excise tax imposed by Section&nbsp;4999 of the Code,
if it would be more favorable to Mr.&nbsp;Devens on a net after-tax basis. Mr.&nbsp;Devens is not entitled to a gross-up payment for excise taxes imposed by Section&nbsp;4999 of the Code on &#147;excess parachute payments,&#148; as defined in
Section&nbsp;280G of the Code. </P>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Clawbacks</U>. Under the Agreement, Mr.&nbsp;Devens is subject to equity and annual bonus
clawback provisions in the event of (1)&nbsp;a breach of the restrictive covenants, (2)&nbsp;termination of his employment by the Company for Cause or (3)&nbsp;any financial restatement or material loss to the Company to which he has materially
contributed due to fraud or willful misconduct. If any such event occurs, the Company generally may terminate or cancel any awards granted to Mr.&nbsp;Devens (whether vested or unvested), and require him to forfeit or remit to the Company any amount
payable (or the net after-tax amount paid or received by him) in respect of any such awards. Furthermore, under the Agreement, in the event that Mr.&nbsp;Devens engages in fraud or other willful misconduct that contributes materially to any
financial restatement or material loss to the Company, the Company may generally require him to repay any annual bonus (net of any taxes paid by him) previously paid to him, cancel any earned but unpaid annual bonus or adjust any future compensation
such that he will only retain the amount that would have been payable to him after giving effect to the financial restatement or material loss. In addition, in the event that Mr.&nbsp;Devens breaches any restrictive covenant, he will be required,
upon written notice from the Company, to forfeit or repay to the Company his severance payments. In certain circumstances, the breach or fraudulent conduct must have occurred within a certain period in order for the Company to be able to clawback
the equity-based awards, annual bonus or severance payments. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Restrictive Covenants</U>. Under the Agreement, Mr.&nbsp;Devens is
generally subject to the following restrictive covenants: employee and customer non-solicitation during his employment and for a period of three years thereafter; confidentiality and non-disparagement during his employment and thereafter; and
non-competition during his employment and for a period of one year following termination by the Company without Cause or by Mr.&nbsp;Devens for Good Reason and for a period of three years following any other type of termination. In addition, the
Company has the option to extend the non-competition period for up to two additional years following a termination by the Company without Cause or by Mr.&nbsp;Devens for Good Reason, provided that the Company continues to pay Mr.&nbsp;Devens&#146;
base salary as in effect on the date of termination during the extended non-competition period. In addition, Mr.&nbsp;Devens has a mutual non-disparagement clause. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The foregoing summary of certain terms and conditions of the Agreement does not purport to be complete and is qualified in its entirety by reference to the
full text of the Agreement, a copy of which is attached to this report as Exhibit 10.3 and is incorporated herein by reference. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%" VALIGN="top" ALIGN="left"><B>Item&nbsp;9.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Financial Statements and Exhibits. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>(d)&nbsp;Exhibits </I></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD WIDTH="92%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:23.50pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Exhibit<BR>No.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:62.75pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Exhibit Description</P></TD></TR>


<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Form of Performance-Based Restricted Stock Unit Award Agreement</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Form of Restricted Stock Unit Award Agreement</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.3</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Amended and Restated Employment Agreement, dated as of March 14, 2014, between the Company and Gordon E. Devens</TD></TR>
</TABLE>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="45%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="45%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date: March&nbsp;19, 2014</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3">XPO LOGISTICS, INC.</TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Gordon E. Devens</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">Gordon E. Devens</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">Senior Vice President and General Counsel</TD></TR>
</TABLE>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT INDEX </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD WIDTH="92%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:23.50pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Exhibit<BR>No.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:62.75pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Exhibit Description</P></TD></TR>


<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Form of Performance-Based Restricted Stock Unit Award Agreement</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Form of Restricted Stock Unit Award Agreement</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.3</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Amended and Restated Employment Agreement, dated as of March 14, 2014, between the Company and Gordon E. Devens</TD></TR>
</TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>d696124dex101.htm
<DESCRIPTION>EX-10.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Exhibit 10.1 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:13%; text-indent:8%; font-size:10pt; font-family:Times New Roman">PERFORMANCE-BASED RESTRICTED STOCK UNIT AWARD AGREEMENT UNDER THE XPO LOGISTICS, INC. AMENDED AND RESTATED 2011 OMNIBUS
INCENTIVE COMPENSATION PLAN, dated as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 201&nbsp;&nbsp;&nbsp;&nbsp; between XPO LOGISTICS, INC., a Delaware corporation (the &#147;<U>Company</U>&#148;), and [name]. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">This Performance-Based Restricted Stock Unit Award Agreement (this &#147;<U>Award Agreement</U>&#148;) sets forth the terms and conditions of
a target award of [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] performance-based restricted stock units (this &#147;<U>Award</U>&#148;) that are subject to the terms and conditions specified herein (each such restricted
stock unit, an &#147;<U>RSU</U>&#148;) and that are granted to you under the XPO Logistics, Inc. Amended and Restated 2011 Omnibus Incentive Compensation Plan (the &#147;<U>Plan</U>&#148;). This Award provides you with the opportunity to earn,
subject to the terms of this Award Agreement, shares of the Company&#146;s Common Stock, $0.001 par value (&#147;<U>Share</U>&#148;), or cash, as set forth in Section&nbsp;3 this Award Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">THIS AWARD IS SUBJECT TO ALL TERMS AND CONDITIONS OF THE PLAN AND THIS AWARD AGREEMENT, INCLUDING THE DISPUTE RESOLUTION PROVISIONS SET FORTH
IN SECTION 10 OF THIS AWARD AGREEMENT. BY SIGNING YOUR NAME BELOW, YOU SHALL HAVE CONFIRMED YOUR ACCEPTANCE OF THE TERMS AND CONDITIONS OF THIS AWARD AGREEMENT. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 1. <U>The Plan.</U> This Award is made pursuant to the Plan, all the terms of which are hereby incorporated in this Award Agreement,
including the provisions of Section&nbsp;6(e) of the Plan. In the event of any conflict between the terms of the Plan and the terms of this Award Agreement, the terms of the Plan shall govern. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2. <U>Definitions.</U> Capitalized terms used in this Award Agreement that are not defined in this Award Agreement have the meanings
as used or defined in the Plan. As used in this Award Agreement, the following terms have the meanings set forth below: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding
anything in your Employment Agreement, if any, to the contrary, solely with respect to this Award, &#147;<U>Cause</U>&#148; means: (i)&nbsp;your dereliction of duties or gross negligence or failure to perform your duties or refusal to follow any
lawful directive of the officer to whom you report; (ii)&nbsp;your abuse of or dependency on alcohol or drugs (illicit or otherwise) that adversely affects your performance of duties for the Company; (iii)&nbsp;your commission of any fraud,
embezzlement, theft or dishonesty, or any deliberate misappropriation of money or other assets of the Company; (iv)&nbsp;your breach of any fiduciary duties to the Company; (v)&nbsp;any act, or failure to act, by you in bad faith to the detriment of
the Company; (vi)&nbsp;your failure to cooperate in good faith with a governmental or internal investigation of the Company or any of its directors, managers, officers or employees, if the Company requests your cooperation; (vii)&nbsp;your failure
to follow Company policies, including the Company&#146;s code of conduct and/or ethics policy, as may be in effect from time to time, and (viii)&nbsp;your conviction of, or plea of nolo contendere to, a felony or any serious crime; provided that in
cases where cure is possible, you shall first be provided a 15-day cure period. Notwithstanding anything in your Employment Agreement, if any, to the contrary, solely with respect to the grant of this Award, the cessation of your employment shall
not be deemed to be for Cause unless and until there shall have been delivered to you a copy of a resolution duly adopted by the affirmative vote of </P>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
not less than a majority of the Board (excluding you, if you are a member of the Board) after reasonable notice is provided to you and you are given an opportunity, together your counsel, to be
heard before the Board), finding that, in the sole discretion of the Board, you are guilty of the conduct described in any of clause (i)&nbsp;through (viii)&nbsp;of this definition. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Code</U>&#148; means the Internal Revenue Code of 1986, as amended. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Determination Date</U>&#148; means the date the Committee determines that the Performance Goal has been met, which shall occur as
soon as reasonably practicable following the Performance Goal being met, but in no event later than April&nbsp;30, 2018. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Employment Agreement</U>&#148; means any individual employment agreement between you and the Company or any of its Subsidiaries. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding anything in your Employment Agreement, if any, to the contrary, solely with respect to this Award, &#147;<U>Good
Reason</U>&#148; means: (i)&nbsp;the Company materially breaches the terms of this Award Agreement; or (ii)&nbsp;any reduction in your base salary; <I>provided</I> that the Company shall first be provided with a 30-day cure period following receipt
of written notice from you to the Board setting forth in reasonable detail the specific conduct of the Company that is alleged to constitute Good Reason, to cease, and to cure, any conduct specified in such written notice; <I>provided</I>, further,
that such notice shall be provided to the Board within 45 days of the occurrence of the conduct alleged to constitute Good Reason and if, at the end of the cure period, the circumstance alleged to constitute Good Reason has not been remedied, you
will be entitled to terminate your employment for Good Reason during the 30-day period that follows the end of the cure period. If you do not terminate employment during such 30-day period, you will not be permitted to terminate your employment for
Good Reason as a result of such event or condition. If the Company disputes the existence of Good Reason, you will have the burden of proof to establish that Good Reason does exist or that the circumstances that gave rise to Good Reason have not
been cured. For the avoidance of doubt, a change in your title or the person to whom you report shall not constitute Good Reason for purposes of this Award Agreement including without limitation pursuant to clause (i)&nbsp;of this definition. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Performance Evaluation Period</U>&#148; has the meaning set forth on <U>Exhibit A</U> attached hereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Performance Goal</U>&#148; means the goal set forth on <U>Exhibit A</U> attached hereto, the achievement of which determines whether
the RSUs subject to this Award Agreement shall be earned. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Section 409A</U>&#148; means Section&nbsp;409A of the Code, and the
regulations and other interpretive guidance promulgated thereunder, as in effect from time to time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Settlement Date</U>&#148;
means the tenth (10th)&nbsp;day following the earliest of (i)&nbsp;the Vesting Date; (ii)&nbsp;the date of your termination of employment due to death or (iii)&nbsp;a Change of Control. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Vesting Date</U>&#148; means the date on which both the Performance Goal and service requirement set forth in Section&nbsp;3(a) of
this Award Agreement are met. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3. <U>Vesting and Settlement</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Service-Based Vesting</U>. Except as otherwise provided in this Award Agreement, subject to your continued employment through the
Determination Date and the achievement of the Performance Goal, you shall vest in the RSUs subject to this Award Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)
<U>Performance-Based Vesting</U>. Promptly following achievement of the Performance Goal, but in no event later than the Determination Date, the Committee shall determine whether the Performance Goal has been attained and shall provide notice to you
of such determination as soon as reasonably practicable following such determination in accordance with Section&nbsp;11 of this Award Agreement. Except as otherwise determined by the Committee in its sole discretion, which shall be subject to
Section&nbsp;6(e) of the Plan or as provided in Section&nbsp;4 of this Award Agreement, the delivery of Shares or cash with respect to the RSUs is contingent on the Committee determining and certifying that the Performance Goal has been attained.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Change of Control</U>. Notwithstanding any provisions of this Section&nbsp;3, in the event of a Change of Control, all outstanding
RSUs granted under this Agreement shall immediately vest in full. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Death/Termination without Cause/Resignation for Good Reason</U>.
Notwithstanding anything to the contrary in this Award Agreement or the Plan to the contrary, (i)&nbsp;if your employment terminates by reason of your death, all outstanding RSUs shall immediately vest in full; (ii)&nbsp;if your employment is
terminated by the Company without Cause or you resign for Good Reason after April&nbsp;2, 2018, you shall remain eligible to vest in the RSUs on the Determination Date subject to the achievement of the Performance Goal as determined in accordance
with Section&nbsp;3(b); and (iii)&nbsp;if your employment is terminated by the Company without Cause or you resign for Good Reason prior to April&nbsp;2, 2018, you will vest in a number of RSUs equal to the product of (x)&nbsp;the number of RSUs
granted under this Award Agreement and (y)&nbsp;a fraction, the numerator of which is the number of days from the date on which the RSUs were granted through the date of termination of your employment and the denominator of which is the number of
days from the date of grant through April&nbsp;2, 2018. Notwithstanding anything in the Plan, this Award Agreement or your Employment Agreement to the contrary, any determination of whether Cause or Good Reason exists shall not be effective unless a
majority of the Board of Directors so determines pursuant to a written resolution. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) <U>Settlement of RSU Award.</U> On the Settlement
Date, the Company shall deliver to you or your legal representative either (i)&nbsp;one Share or (ii)&nbsp;a cash payment equal to the Fair Market Value determined as of the Settlement Date of one Share, in each case, for each RSU that has vested in
accordance with the terms of this Award Agreement; provided that, the Company shall have sole discretion to determine whether to settle such RSUs in Shares, cash or a combination thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4. <U>Forfeiture of RSUs.</U> If you breach any restrictive covenant (which, for the avoidance of doubt, includes any non-compete,
non-solicit, non-disparagement or confidentiality provisions) contained in any arrangements with the Company (including your </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Employment Agreement and the confidentiality covenant contained in Section&nbsp;10(c) hereof) to which you are subject or engage in fraud or willful misconduct that contributes materially to any
financial restatement or material loss to the Company or any of its Subsidiaries, your rights with respect to such RSUs shall immediately terminate, and you shall be entitled to no further payments or benefits with respect thereto and, if the RSUs
are vested and/or settled, the Company may require you to forfeit or remit to the Company any amount payable, or the after-tax net amount paid or received by you, in respect of any RSUs; provided, however, that (i)&nbsp;the Company shall make such
demand that you forfeit or remit any such amount no later than six months after learning of the conduct described in this Section&nbsp;4 and (ii)&nbsp;in cases where cure is possible, you shall first be provided a 15-day cure period to cease, and to
cure, such conduct. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 5. <U>No Rights as a Stockholder.</U> You shall not have any rights or privileges of a stockholder with
respect to the RSUs subject to this Award Agreement unless and until certificates representing Shares are actually issued and delivered to you or your legal representative in settlement of this Award. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6. <U>Non-Transferability of RSUs.</U> Unless otherwise provided by the Committee in its discretion, RSUs may not be sold, assigned,
alienated, transferred, pledged, attached or otherwise encumbered except as provided in Section&nbsp;9(a) of the Plan. Any purported sale, assignment, alienation, transfer, pledge, attachment or other encumbrance of RSUs in violation of the
provisions of this Section&nbsp;6 and Section&nbsp;9(a) of the Plan shall be void. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7. <U>Withholding, Consents and Legends.</U>
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Withholding.</U> The delivery of Shares or cash pursuant to Section&nbsp;3(c) or 3(d) of this Award Agreement, as the case may be,
is conditioned on satisfaction of any applicable withholding taxes in accordance with this Section&nbsp;7(a) and Section&nbsp;9(d) of the Plan. No later than the date as of which an amount first becomes includible in your gross income for Federal,
state, local or foreign income tax purposes with respect to any RSUs, you shall pay to the Company, or make arrangements satisfactory to the Company regarding the payment of, any Federal, state, local and foreign taxes that are required by
applicable laws and regulations to be withheld with respect to such amount. In the event that there is withholding tax liability in connection with the settlement of the RSUs, if authorized by the Committee in its sole discretion, you may satisfy,
in whole or in part, any withholding tax liability by having the Company withhold from the number of Shares or cash you would be entitled to receive upon settlement of the RSUs, an amount in cash or a number of Shares having a Fair Market Value
(which shall either have the meaning set forth in the Plan or shall have such other meaning as determined by the Company in accordance with applicable withholding requirements) equal to such withholding tax liability. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Consents.</U> Your rights in respect of the RSUs are conditioned on the receipt to the full satisfaction of the Committee of any
required consents that the Committee may determine to be necessary or advisable (including your consent to the Company&#146;s supplying to any third-party recordkeeper of the Plan such personal information as the Committee deems advisable to
administer the Plan). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Legends.</U> The Company may affix to certificates for Shares issued pursuant to this
Award Agreement any legend that the Committee determines to be necessary or advisable (including to reflect any restrictions to which you may be subject under any applicable securities laws). The Company may advise the transfer agent to place a stop
order against any legended Shares. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 8. <U>Successors and Assigns of the Company.</U> The terms and conditions of this Award
Agreement shall be binding upon and shall inure to the benefit of the Company and its successors and assigns. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9. <U>Committee
Discretion.</U> The Compensation Committee of the Board shall have full and plenary discretion with respect to any actions to be taken or determinations to be made in connection with this Award Agreement, and its determinations shall be final,
binding and conclusive. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10. <U>Dispute Resolution.</U> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Jurisdiction and Venue.</U> Notwithstanding any provision in your Employment Agreement, you and the Company irrevocably submit to the
exclusive jurisdiction of (i)&nbsp;the United States District Court for the Southern District of New York and (ii)&nbsp;the courts of the State of New York for the purposes of any suit, action or other proceeding arising out of this Award Agreement
or the Plan. You and the Company agree to commence any such action, suit or proceeding either in the United States District Court for the Southern District of New York or, if such suit, action or other proceeding may not be brought in such court for
jurisdictional reasons, in the courts of the State of New York. You and the Company further agree that service of any process, summons, notice or document by U.S. registered mail to the other party&#146;s address set forth below shall be effective
service of process for any action, suit or proceeding in New York with respect to any matters to which you have submitted to jurisdiction in this Section&nbsp;10(a). You and the Company irrevocably and unconditionally waive any objection to the
laying of venue of any action, suit or proceeding arising out of this Award Agreement or the Plan in (A)&nbsp;the United States District Court for the Southern District of New York or (B)&nbsp;the courts of the State of New York, and hereby and
thereby further irrevocably and unconditionally waive and agree not to plead or claim in any such court that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Waiver of Jury Trial.</U> You and the Company hereby waive, to the fullest extent permitted by applicable law, any right either of you
may have to a trial by jury in respect to any litigation directly or indirectly arising out of, under or in connection with this Award Agreement or the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Confidentiality.</U> You hereby agree to keep confidential the existence of, and any information concerning, a dispute described in
this Section&nbsp;10, except that you may disclose information concerning such dispute to the court that is considering such dispute or to your legal counsel (provided that such counsel agrees not to disclose any such information other than as
necessary to the prosecution or defense of the dispute). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11. <U>Notice.</U> All notices, requests, demands and other communications required or
permitted to be given under the terms of this Award Agreement shall be in writing and shall be deemed to have been duly given when delivered by hand or overnight courier or three Business Days after they have been mailed by U.S. certified or
registered mail, return receipt requested, postage prepaid, addressed to the other party as set forth below: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="24%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">If to the Company:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">XPO Logistics, Inc.</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Five Greenwich Office
Park</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Greenwich, CT 06831</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Attention: General
Counsel</P></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">If to you:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">To your address as most recently supplied to the Company and set forth in the Company&#146;s records</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The parties may change the address to which notices under this Award Agreement shall be sent by providing written notice to
the other in the manner specified above. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 12. <U>Governing Law.</U> This Award Agreement shall be deemed to be made in the State
of Delaware, and the validity, construction and effect of this Award Agreement in all respects shall be determined in accordance with the laws of the State of Delaware, without giving effect to the conflict of law principles thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 13. <U>Headings and Construction.</U> Headings are given to the Sections and subsections of this Award Agreement solely as a
convenience to facilitate reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of this Award Agreement or any provision thereof. Whenever the words &#147;include&#148;,
&#147;includes&#148; or &#147;including&#148; are used in this Award Agreement, they shall be deemed to be followed by the words &#147;but not limited to&#148;. The term &#147;or&#148; is not exclusive. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 14. <U>Amendment of this Award Agreement.</U> The Committee may waive any conditions or rights under, amend any terms of, or alter,
suspend, discontinue, cancel or terminate this Award Agreement prospectively or retroactively; <U>provided</U>, <U>however</U>, that, except as set forth in Section&nbsp;15(d) of this Award Agreement, any such waiver, amendment, alteration,
suspension, discontinuance, cancelation or termination that would materially and adversely impair your rights under this Award Agreement shall not to that extent be effective without your consent (it being understood, notwithstanding the foregoing
proviso, that this Award Agreement and the RSUs shall be subject to the provisions of Section&nbsp;7(c) of the Plan). </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 15.
<U>Section 409A.</U> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) It is intended that the provisions of this Award Agreement comply with Section&nbsp;409A, and all provisions of
this Award Agreement shall be construed and interpreted in a manner consistent with the requirements for avoiding taxes or penalties under Section&nbsp;409A. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Neither you nor any of your creditors or beneficiaries shall have the right to subject any deferred compensation (within the meaning of
Section&nbsp;409A) payable under this Award Agreement to any anticipation, alienation, sale, transfer, assignment, pledge, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
encumbrance, attachment or garnishment. Except as permitted under Section&nbsp;409A, any deferred compensation (within the meaning of Section&nbsp;409A) payable to you or for your benefit under
this Award Agreement may not be reduced by, or offset against, any amount owing by you to the Company or any of its Affiliates. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) If,
at the time of your separation from service (within the meaning of Section&nbsp;409A), (i)&nbsp;you shall be a specified employee (within the meaning of Section&nbsp;409A and using the identification methodology selected by the Company from time to
time) and (ii)&nbsp;the Company shall make a good faith determination that an amount payable hereunder constitutes deferred compensation (within the meaning of Section&nbsp;409A) the payment of which is required to be delayed pursuant to the
six-month delay rule set forth in Section&nbsp;409A in order to avoid taxes or penalties under Section&nbsp;409A, then the Company shall not pay such amount on the otherwise scheduled payment date but shall instead pay it, without interest (except
as otherwise provided in your Employment Agreement), on the first business day after such six-month period. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Notwithstanding any
provision of this Award Agreement to the contrary, in light of the uncertainty with respect to the proper application of Section&nbsp;409A, the Company reserves the right to make amendments to this Award Agreement as the Company deems necessary or
desirable to avoid the imposition of taxes or penalties under Section&nbsp;409A. In any case, you shall be solely responsible and liable for the satisfaction of all taxes and penalties that may be imposed on you or for your account in connection
with this Award Agreement (including any taxes and penalties under Section&nbsp;409A), and neither the Company nor any of its Affiliates shall have any obligation to indemnify or otherwise hold you harmless from any or all of such taxes or
penalties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 16. <U>Counterparts.</U> This Award Agreement may be signed in counterparts, each of which shall be an original, with
the same effect as if the signatures thereto and hereto were upon the same instrument. You and the Company hereby acknowledge and agree that signatures delivered by facsimile or electronic means (including by &#147;pdf&#148;) shall be deemed
effective for all purposes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 17. [<U>Section 280G</U>. Notwithstanding anything in this Award Agreement or your Employment
Agreement [(including without limitation Section&nbsp;5(g))] to the contrary and regardless of whether this Award Agreement has otherwise expired or terminated, in the event that any payments, distributions, benefits or entitlements of any type
payable to you (&#147;<U>CIC Benefits</U>&#148;) (i)&nbsp;constitute &#147;parachute payments&#148; within the meaning of Section&nbsp;280G of the Code, and (ii)&nbsp;but for this paragraph would be subject to the excise tax imposed by
Section&nbsp;4999 of the Code (the &#147;<U>Excise Tax</U>&#148;), then your CIC Benefits shall be reduced to such lesser amount (the &#147;<U>Reduced Amount</U>&#148;) that would result in no portion of such benefits being subject to the Excise
Tax; <U>provided</U> that such amounts shall not be so reduced if the Company determines, based on the advice of Golden Parachute Tax Solutions LLC, or such other nationally recognized certified public accounting firm as may be designated by the
Company (the &#147;<U>Accounting Firm</U>&#148;), that without such reduction you would be entitled to receive and retain, on a net after tax basis (including, without limitation, any excise taxes payable under Section&nbsp;4999 of the Code), an
amount that is greater than the amount, on a net after tax basis, that you would be entitled to retain upon receipt of the Reduced Amount. Unless the Company and you otherwise agree in writing, any determination required under this Section&nbsp;17
shall be made in writing in good faith </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
by the Accounting Firm. In the event of a reduction of benefits hereunder, benefits shall be reduced by first reducing or eliminating the portion of the CIC Benefits that are payable under this
Award Agreement and then by reducing or eliminating the portion of the CIC Benefits that are payable in cash and then by reducing or eliminating the non-cash portion of the CIC Benefits, in each case, in reverse order beginning with payments or
benefits which are to be paid the furthest in the future. For purposes of making the calculations required by this Section&nbsp;17, the Accounting Firm may make reasonable assumptions and approximations concerning applicable taxes and may rely on
reasonable, good faith interpretations concerning the application of the Code, and other applicable legal authority. The Company and you shall furnish to the Accounting Firm such information and documents as the Accounting Firm may reasonably
require in order to make a determination under this Section&nbsp;17, and the Company shall bear the cost of all fees the Accounting Firm charges in connection with any calculations contemplated by this Section&nbsp;17. In connection with making
determinations under this Section&nbsp;17, the Accounting Firm shall take into account the value of any reasonable compensation for services to be rendered by you before or after the Change of Control, including any non-competition provisions that
may apply to you and the Company shall cooperate in the valuation of any such services, including any non-competition provisions.] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 18. [ <U>Lock-Up</U>. Notwithstanding anything to the contrary in your Employment Agreement, the Plan or any Award Agreement under the
Plan, any Shares issued to you upon settlement or exercise, as applicable, of any RSUs or Options (whether before, on or after the date hereof), including without limitation the RSUs under this Award Agreement, shall be subject to a lock-up on
sales, offers, pledges, contracts to sell, grants of any option, right or warrant to purchase, or other transfers or dispositions, whether directly or indirectly, from the date hereof until September&nbsp;2, 2016 (or, if earlier, upon your death or
a Change of Control) and all laws, rules and regulations applicable to you; provided, however, if determined by the Board in its sole discretion, the provisions of this Section&nbsp;18 shall not apply to Shares withheld, sold or otherwise
transferred to the Company to cover the exercise price in connection with the exercise of any Options or to satisfy the applicable tax withholding in connection with the exercise or settlement, as applicable of any Options or RSUs.] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the parties have duly executed this Award Agreement as of the date first written above. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="3%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="70%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="7">XPO LOGISTICS, INC.,</TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">by&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="right">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD HEIGHT="16" COLSPAN="3"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">[NAME]</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><U>Exhibit A </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Performance Goal </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The Performance Goal shall be achieved if (i)&nbsp;the price of a Share, as reported on the New York Stock Exchange or such other exchange upon which the Shares trade, trades at or above $60 for twenty consecutive
trading days during the Performance Evaluation Period and (ii)&nbsp;Adjusted Earnings Per Share of at least $2.50 is achieved with respect to fiscal year 2017. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">&#147;Adjusted Earnings Per Share&#148; shall mean (i)&nbsp;net income available to common shareholders, including preferred interest holders, plus depreciation and amortization less capital expenditures divided by
(ii)&nbsp;diluted shares outstanding. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">&#147;<U>Performance Evaluation Period</U>&#148; shall mean the period commencing on the date of grant of the RSUs and ending on April&nbsp;2, 2018. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>d696124dex102.htm
<DESCRIPTION>EX-10.2
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.2</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Exhibit 10.2 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">RESTRICTED STOCK UNIT AWARD AGREEMENT UNDER THE XPO LOGISTICS, INC. AMENDED AND RESTATED 2011 OMNIBUS INCENTIVE COMPENSATION
PLAN, dated as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 201&nbsp;&nbsp;&nbsp;&nbsp;, between XPO Logistics, Inc., a Delaware corporation (the &#147;<U>Company</U>&#148;), and [name]. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">This Restricted Stock Unit Award Agreement (this &#147;<U>Award Agreement</U>&#148;) sets forth the terms and conditions of an award of
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] restricted stock units (this &#147;<U>Award</U>&#148;) that are subject to the terms and conditions specified herein (each
such restricted stock unit, an &#147;<U>RSU</U>&#148;) and that are granted to you under the XPO Logistics, Inc. Amended and Restated 2011 Omnibus Incentive Compensation Plan (the &#147;<U>Plan</U>&#148;). This Award constitutes an unfunded and
unsecured promise of the Company to deliver (or cause to be delivered) to you, subject to the terms of this Award Agreement, shares of the Company&#146;s Common Stock, $0.001 par value (&#147;<U>Share</U>&#148;), or cash, as set forth in
Section&nbsp;3 of this Award Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">THIS AWARD IS SUBJECT TO ALL TERMS AND CONDITIONS OF THE PLAN AND THIS AWARD AGREEMENT, INCLUDING
THE DISPUTE RESOLUTION PROVISIONS SET FORTH IN SECTION 10 OF THIS AWARD AGREEMENT. BY SIGNING YOUR NAME BELOW, YOU SHALL HAVE CONFIRMED YOUR ACCEPTANCE OF THE TERMS AND CONDITIONS OF THIS AWARD AGREEMENT. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 1. <U>The Plan.</U> This Award is made pursuant to the Plan, all the terms of which are hereby incorporated in this Award Agreement.
In the event of any conflict between the terms of the Plan and the terms of this Award Agreement, the terms of the Plan shall govern. Except as explicitly set forth in this Award Agreement, in the event of any conflict between the terms of this
Award Agreement and the terms of any individual employment agreement between you and the Company or any of its Subsidiaries (an &#147;<U>Employment Agreement</U>&#148;), the terms of your Employment Agreement will govern. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2. <U>Definitions.</U> Capitalized terms used in this Award Agreement that are not defined in this Award Agreement have the meanings
as used or defined in the Plan. As used in this Award Agreement, the following terms have the meanings set forth below: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Business
Day</U>&#148; means a day that is not a Saturday, a Sunday or a day on which banking institutions are legally permitted to be closed in the City of New York. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Cause</U>&#148;, solely with respect to this Award, and notwithstanding anything in your Employment Agreement, if any, to the
contrary, means: (i)&nbsp;your dereliction of duties or gross negligence or failure to perform your duties or refusal to follow any lawful directive of the officer to whom you report; (ii)&nbsp;your abuse of or dependency on alcohol or drugs
(illicit or otherwise) that adversely affects your performance of duties for the Company; (iii)&nbsp;your commission of any fraud, embezzlement, theft or dishonesty, or any deliberate misappropriation of money or other assets of the Company;
(iv)&nbsp;your breach of any fiduciary duties to the Company; (v)&nbsp;any act, or failure to act, by you in bad faith to the detriment of the Company; (vi)&nbsp;your failure to cooperate in good faith with a governmental or internal investigation
of the Company or any of its directors, managers, officers or employees, if the Company requests your cooperation; (vii)&nbsp;your failure to follow Company policies, including the Company&#146;s code of
</P>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
conduct and/or ethics policy, as may be in effect from time to time, and (viii)&nbsp;your conviction of, or plea of nolo contendere to, a felony or any serious crime; provided that in cases where
cure is possible, you shall first be provided a 15-day cure period. Notwithstanding anything in your Employment Agreement, if any, to the contrary, solely with respect to the grant of this Award, the cessation of your employment shall not be deemed
to be for Cause unless and until there shall have been delivered to you a copy of a resolution duly adopted by the affirmative vote of not less than a majority of the Board (excluding you, if you are a member of the Board) after reasonable notice is
provided to you and you are given an opportunity, together with your counsel, to be heard before the Board), finding that, in the sole discretion of the Board, you are guilty of the conduct described in any of clause (i)&nbsp;through (viii)&nbsp;of
this definition. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Section 409A</U>&#148; means Section&nbsp;409A of the Internal Revenue Code of 1986, as amended, and the
regulations and other interpretive guidance promulgated thereunder, as in effect from time to time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Settlement Date</U>&#148;
means each date on which you become entitled to delivery of Shares or cash in settlement of the RSUs subject to this Award Agreement, as provided in Section&nbsp;3(a) or 3(b) of this Award Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3. <U>Vesting and Settlement.</U> (a)&nbsp;<U>Regularly Scheduled Settlement.</U> (i)&nbsp;On each Settlement Date set forth below,
you shall become entitled to delivery of Shares, cash or a combination thereof, as determined by the Company in its sole discretion, in settlement of the number of RSUs that corresponds to such Settlement Date, as specified in the chart below,
provided that you must be actively employed by the Company or any of its Subsidiaries on the relevant Settlement Date, except (A)&nbsp;as otherwise determined by the Committee in its sole discretion, (B)&nbsp;as set forth in this Section&nbsp;3 of
this Award Agreement or (C)&nbsp;as otherwise provided in your Employment Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) In the event that your employment with the
Company is terminated prior to the last Settlement Date under any of the circumstances described in your Employment Agreement, your entitlement to receive Shares or cash pursuant to this Award shall be governed by the relevant section of your
Employment Agreement. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="57%"></TD>
<TD VALIGN="bottom" WIDTH="15%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="15%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:86.50pt; font-size:8pt; font-family:Times New Roman">Scheduled Settlement Date</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Percentage&nbsp;Settled&nbsp;on<BR>Such Date</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Number&nbsp;of&nbsp;Restricted&nbsp;Stock<BR>Units Vesting on Such Date</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;, 201&nbsp;&nbsp;&nbsp;&nbsp;</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">]&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;,
201&nbsp;&nbsp;&nbsp;&nbsp;</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">]&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;,
201&nbsp;&nbsp;&nbsp;&nbsp; </B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">]&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;,
201&nbsp;&nbsp;&nbsp;&nbsp; </B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">]&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;,
201&nbsp;&nbsp;&nbsp;&nbsp; </B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">]&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Settlement of RSU Award.</U> On the Settlement Date, the Company shall deliver to you or
your legal representative either (i)&nbsp;one Share or (ii)&nbsp;a cash payment equal to the Fair Market Value determined as of the Settlement Date of one Share, in each case, for each RSU that has vested in accordance with the terms of this Award
Agreement; provided that, the Company shall have sole discretion to determine whether to settle such RSUs in Shares, cash or a combination thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Change of Control.</U> Notwithstanding any provisions of this Section&nbsp;3, in the event of a Change of Control, all outstanding RSUs
granted under this Agreement shall immediately vest in full. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4. <U>Forfeiture of RSUs.</U> If you breach any restrictive covenant
(which, for the avoidance of doubt, includes any non-compete, non-solicit, non-disparagement or confidentiality provisions) contained in any arrangements with the Company (including your Employment Agreement and the confidentiality covenant
contained in Section&nbsp;10(c) hereof) to which you are subject or engage in fraud or willful misconduct that contributes materially to any financial restatement or material loss to the Company or any of its Subsidiaries, your rights with respect
to such RSUs shall immediately terminate, and you shall be entitled to no further payments or benefits with respect thereto and, if the RSUs are vested and/or settled, the Company may require you to forfeit or remit to the Company any amount
payable, or the after-tax net amount paid or received by you, in respect of any RSUs; provided, however, that (i)&nbsp;the Company shall make such demand that you forfeit or remit any such amount no later than six months after learning of the
conduct described in this Section&nbsp;4 and (ii)&nbsp;in cases where cure is possible, you shall first be provided a 15-day cure period to cease, and to cure, such conduct. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 5. <U>No Rights as a Stockholder.</U> You shall not have any rights or privileges of a stockholder with respect to the RSUs subject to
this Award Agreement unless and until certificates representing Shares are actually issued and delivered to you or your legal representative in settlement of this Award. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6. <U>Non-Transferability of RSUs.</U> Unless otherwise provided by the Committee in its discretion, RSUs may not be sold, assigned,
alienated, transferred, pledged, attached or otherwise encumbered except as provided in Section&nbsp;9(a) of the Plan. Any purported sale, assignment, alienation, transfer, pledge, attachment or other encumbrance of RSUs in violation of the
provisions of this Section&nbsp;6 and Section&nbsp;9(a) of the Plan shall be void. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7. <U>Withholding, Consents and Legends.</U>
(a)&nbsp;<U>Withholding.</U> The delivery of Shares or cash pursuant to Section&nbsp;3(b) or 3(c) of this Award Agreement, as the case may be, is conditioned on satisfaction of any applicable withholding taxes in accordance with this
Section&nbsp;7(a) and Section&nbsp;9(d) of the Plan. No later than the date as of which an amount first becomes includible in your gross income for Federal, state, local or foreign income tax purposes with respect to any RSUs, you shall pay to the
Company, or make arrangements satisfactory to the Company regarding the payment of, any Federal, state, local and foreign taxes that are required by applicable laws and regulations to be withheld with respect to such amount. In the event that there
is withholding tax liability in connection with the settlement of the RSUs, you may satisfy, in whole or in part, any withholding tax liability by having the Company withhold from the number of Shares or cash you would be entitled to receive upon
settlement of the RSUs, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
an amount in cash or a number of Shares having a Fair Market Value (which shall either have the meaning set forth in the Plan or shall have such other meaning as determined by the Company in
accordance with applicable withholding requirements) equal to such withholding tax liability. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Consents.</U> Your rights in respect
of the RSUs are conditioned on the receipt to the full satisfaction of the Committee of any required consents that the Committee may determine to be necessary or advisable (including your consenting to the Company&#146;s supplying to any third-party
recordkeeper of the Plan such personal information as the Committee deems advisable to administer the Plan). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Legends.</U> The
Company may affix to certificates for Shares issued pursuant to this Award Agreement any legend that the Committee determines to be necessary or advisable (including to reflect any restrictions to which you may be subject under any applicable
securities laws). The Company may advise the transfer agent to place a stop order against any legended Shares. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 8. <U>Successors
and Assigns of the Company.</U> The terms and conditions of this Award Agreement shall be binding upon and shall inure to the benefit of the Company and its successors and assigns. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9. <U>Committee Discretion.</U> The Committee shall have full and plenary discretion with respect to any actions to be taken or
determinations to be made in connection with this Award Agreement, and its determinations shall be final, binding and conclusive. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION
10. <U>Dispute Resolution.</U> (a)&nbsp;<U>Jurisdiction and Venue.</U> Notwithstanding any provision in your Employment Agreement, you and the Company irrevocably submit to the exclusive jurisdiction of (i)&nbsp;the United States District Court for
the Southern District of New York and (ii)&nbsp;the courts of the State of New York for the purposes of any suit, action or other proceeding arising out of this Award Agreement or the Plan. You and the Company agree to commence any such action, suit
or proceeding either in the United States District Court for the Southern District of New York or, if such suit, action or other proceeding may not be brought in such court for jurisdictional reasons, in the courts of the State of New York. You and
the Company further agree that service of any process, summons, notice or document by U.S. registered mail to the other party&#146;s address set forth below shall be effective service of process for any action, suit or proceeding in New York with
respect to any matters to which you have submitted to jurisdiction in this Section&nbsp;10(a). You and the Company irrevocably and unconditionally waive any objection to the laying of venue of any action, suit or proceeding arising out of this Award
Agreement or the Plan in (A)&nbsp;the United States District Court for the Southern District of New York or (B)&nbsp;the courts of the State of New York, and hereby and thereby further irrevocably and unconditionally waive and agree not to plead or
claim in any such court that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)
<U>Waiver of Jury Trial.</U> You and the Company hereby waive, to the fullest extent permitted by applicable law, any right either of you may have to a trial by jury in respect to any litigation directly or indirectly arising out of, under or in
connection with this Award Agreement or the Plan. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Confidentiality.</U> You hereby agree to keep confidential the existence of, and any
information concerning, a dispute described in this Section&nbsp;10, except that you may disclose information concerning such dispute to the court that is considering such dispute or to your legal counsel (provided that such counsel agrees not to
disclose any such information other than as necessary to the prosecution or defense of the dispute). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11. <U>Notice.</U> All
notices, requests, demands and other communications required or permitted to be given under the terms of this Award Agreement shall be in writing and shall be deemed to have been duly given when delivered by hand or overnight courier or three
Business Days after they have been mailed by U.S. certified or registered mail, return receipt requested, postage prepaid, addressed to the other party as set forth below: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="30%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="68%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">If to the Company:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">XPO Logistics, Inc.</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Five Greenwich Office
Park</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Greenwich, CT 06831</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Attention: General
Counsel</P></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">If to you:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">To your address as most recently supplied to the Company and set forth in the Company&#146;s records</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The parties may change the address to which notices under this Award Agreement shall be sent by providing written notice to
the other in the manner specified above. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 12. <U>Governing Law.</U> This Award Agreement shall be deemed to be made in the State of
Delaware, and the validity, construction and effect of this Award Agreement in all respects shall be determined in accordance with the laws of the State of Delaware, without giving effect to the conflict of law principles thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 13. <U>Headings and Construction.</U> Headings are given to the Sections and subsections of this Award Agreement solely as a
convenience to facilitate reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of this Award Agreement or any provision thereof. Whenever the words &#147;include&#148;,
&#147;includes&#148; or &#147;including&#148; are used in this Award Agreement, they shall be deemed to be followed by the words &#147;but not limited to&#148;. The term &#147;or&#148; is not exclusive. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 14. <U>Amendment of this Award Agreement.</U> The Committee may waive any conditions or rights under, amend any terms of, or alter,
suspend, discontinue, cancel or terminate this Award Agreement prospectively or retroactively; <U>provided</U>, <U>however</U>, that, except as set forth in Section&nbsp;15(d) of this Award Agreement, any such waiver, amendment, alteration,
suspension, discontinuance, cancelation or termination that would materially and adversely impair your rights under this Award Agreement shall not to that extent be effective without your consent (it being understood, notwithstanding the foregoing
proviso, that this Award Agreement and the RSUs shall be subject to the provisions of Section&nbsp;7(c) of the Plan). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 15. <U>Section&nbsp;409A.</U> (a)&nbsp;It is intended that the provisions of this Award
Agreement comply with Section&nbsp;409A, and all provisions of this Award Agreement shall be construed and interpreted in a manner consistent with the requirements for avoiding taxes or penalties under Section&nbsp;409A. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Neither you nor any of your creditors or beneficiaries shall have the right to subject any deferred compensation (within the meaning of
Section&nbsp;409A) payable under this Award Agreement to any anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment or garnishment. Except as permitted under Section&nbsp;409A, any deferred compensation (within the
meaning of Section&nbsp;409A) payable to you or for your benefit under this Award Agreement may not be reduced by, or offset against, any amount owing by you to the Company or any of its Affiliates. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) If, at the time of your separation from service (within the meaning of Section&nbsp;409A), (i)&nbsp;you shall be a specified employee
(within the meaning of Section&nbsp;409A and using the identification methodology selected by the Company from time to time) and (ii)&nbsp;the Company shall make a good faith determination that an amount payable hereunder constitutes deferred
compensation (within the meaning of Section&nbsp;409A) the payment of which is required to be delayed pursuant to the six-month delay rule set forth in Section&nbsp;409A in order to avoid taxes or penalties under Section&nbsp;409A, then the Company
shall not pay such amount on the otherwise scheduled payment date but shall instead pay it, without interest (except as otherwise provided in your Employment Agreement), on the first business day after such six-month period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Notwithstanding any provision of this Award Agreement to the contrary, in light of the uncertainty with respect to the proper application
of Section&nbsp;409A, the Company reserves the right to make amendments to this Award Agreement as the Company deems necessary or desirable to avoid the imposition of taxes or penalties under Section&nbsp;409A. In any case, you shall be solely
responsible and liable for the satisfaction of all taxes and penalties that may be imposed on you or for your account in connection with this Award Agreement (including any taxes and penalties under Section&nbsp;409A), and neither the Company nor
any of its Affiliates shall have any obligation to indemnify or otherwise hold you harmless from any or all of such taxes or penalties. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 16. <U>Counterparts.</U> This Award Agreement may be signed in counterparts, each of which shall be an original, with the same effect
as if the signatures thereto and hereto were upon the same instrument. You and the Company hereby acknowledge and agree that signatures delivered by facsimile or electronic means (including by &#147;pdf&#148;) shall be deemed effective for all
purposes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 17. <U>[Lock-Up</U>. Notwithstanding anything to the contrary in your Employment Agreement, the Plan or any Award
Agreement under the Plan, any Shares issued to you upon settlement or exercise, as applicable, of any RSUs or Options (whether before, on or after the date hereof), including without limitation the RSUs under this Award Agreement, shall be subject
to a lock-up on sales, offers, pledges, contracts to sell, grants of any option, right or warrant to purchase, or other transfers or dispositions, whether directly or indirectly, from the date hereof until September&nbsp;2, 2016 (or, if earlier,
upon your death or a Change of Control) and all laws, rules and regulations applicable to you; provided, however, if determined by the Board </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
in its sole discretion, the provisions of this Section&nbsp;17 shall not apply to Shares withheld, sold or otherwise transferred to the Company to cover the exercise price in connection with the
exercise of any Options or to satisfy the applicable tax withholding in connection with the exercise or settlement, as applicable of any Options or RSUs.] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the parties have duly executed this Award Agreement as of the date first written above. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="3%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="70%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="7">XPO LOGISTICS, INC.,</TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">by&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD COLSPAN="3" VALIGN="top"></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD HEIGHT="16" COLSPAN="3"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">[NAME]</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="6"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="5"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>d696124dex103.htm
<DESCRIPTION>EX-10.3
<TEXT>
<HTML><HEAD>
<TITLE>Ex-10.3</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Exhibit 10.3 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>AMENDED AND RESTATED EMPLOYMENT AGREEMENT </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Amended and Restated Employment Agreement (this &#147;<U>Agreement</U>&#148;), effective as of March&nbsp;14, 2014, by
and between XPO Logistics, Inc., a Delaware corporation (together with its successors and assigns, the &#147;<U>Company</U>&#148;), and Gordon E. Devens (&#147;<U>Employee</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Executive and the Company are parties to that certain Employment Agreement, dated as of October&nbsp;31, 2011 (the
&#147;Employment Agreement&#148;); and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company and Executive wish to amend the terms of the Employment Agreement on the
terms and conditions set forth herein; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the premises and mutual covenants herein and for other good
and valuable consideration, Employee and the Company agree as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1. <U>Term and Duties</U>. (a)&nbsp;<U>Term</U>. The term of
Employee&#146;s employment hereunder (the &#147;<U>Term</U>&#148;) shall begin on November&nbsp;14, 2011 (the &#147;<U>Start Date</U>&#148;) and end on September&nbsp;2, 2016. Notwithstanding the foregoing, the Term may be earlier terminated by
either party in accordance with the terms of Section&nbsp;4 of this Agreement, and the Term shall automatically expire on the last day of the Term (the &#147;<U>Expiration Date</U>&#148;) without notice required by any party to the other. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Employment Duties</U>. Employee shall perform such duties as are customarily performed by a general counsel of a public company and as
assigned from time to time by the Chief Executive Officer of the Company (the &#147;<U>CEO</U>&#148;), and Employee shall report directly to the CEO. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Title, Full Time Service and Other Activities</U>. During the Term, Employee shall serve as Senior Vice President, General Counsel of
the Company, and, excluding any periods of paid time-off or approved sick leave to which Employee is entitled, Employee shall devote his full working time, energy and attention to the performance of his duties and responsibilities hereunder and
shall faithfully and diligently endeavor to promote the business and best interests of the Company. During the Term, Employee may not, without the prior written consent of the CEO, directly or indirectly, operate, participate in the management,
operations or control of, or act as an employee, officer, consultant, partner, member, agent or representative of, any type of business or service other than as an employee and member of the Company. It shall not, however, be a violation of the
foregoing provisions of this Section&nbsp;1(c) for Employee to (i)&nbsp;serve as an officer or director or otherwise participate in non-profit, educational, social welfare, religious and civic organizations or (ii)&nbsp;manage his personal,
financial and legal affairs, in each case so long as any such activities do not unreasonably interfere with the performance of his duties and responsibilities to the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Location</U>. During the Term, Employee shall be based primarily at the Company&#146;s headquarters in Fairfield County, Connecticut,
with such travel as the performance of his duties to the Company may require. </P>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">2. <U>Compensation</U>. (a)&nbsp;<U>Base Salary</U>. During the Term, the Company shall pay
Employee, pursuant to the Company&#146;s normal and customary payroll procedures but not less frequently than monthly, a base salary at the rate of $300,000 per annum (the &#147;<U>Base Salary</U>&#148;). The Base Salary is subject to review
annually throughout the Term by the Compensation Committee (the &#147;<U>Compensation Committee</U>&#148;) of the Board of Directors of the Company (the &#147;<U>Board</U>&#148;) in its sole discretion. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Annual Bonus</U>. As additional compensation, Employee shall have the opportunity to earn a performance-based bonus (&#147;<U>Annual
Bonus</U>&#148;) for each year during the Term of Employee&#146;s employment commencing in the 2012 fiscal year targeted between 40% and 100% of the Base Salary based upon Employee&#146;s achievement of performance goals as determined by the
Compensation Committee. The performance goals applicable to the Annual Bonus shall be based on one or more of the performance criteria set forth in Section&nbsp;6(e)(iv) of the Company&#146;s 2011 Omnibus Incentive Compensation Plan (the
&#147;<U>2011 Plan Performance Criteria</U>&#148;). Notwithstanding anything to the contrary contained herein and without limiting any other rights and remedies of the Company (including as may be required by law), if Employee has engaged in fraud
or other willful misconduct that contributes materially to any financial restatements or material loss to the Company or any of its affiliates, the Company may require repayment by Employee of any cash Annual Bonus (net of any taxes paid by Employee
on such payments) previously paid to Employee, or cancel any earned but unpaid Annual Bonus or adjust the future compensation of Employee in order to recover the amount by which any compensation paid to Employee exceeded the lower amount that would
have been payable after giving effect to the restated financial results or the material loss. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Relocation and Housing
Assistance</U>. In order to assist Employee in relocating his household to Fairfield County, Connecticut, Employee shall receive (i)&nbsp;a cash payment equal to $100,000, which shall be payable in two equal installments of $50,000 each on the
three-month anniversary of the Start Date and the sixth-month anniversary of the Start Date, and (ii)&nbsp;a cash payment equal to $20,000, which shall be payable in five equal installments of $4,000 each on or as promptly as practicable following
the Start Date and on each of the first payroll dates during each of the next four months, provided that, in the cases of clauses (i)&nbsp;and (ii), Employee remains continuously employed by the Company on each payment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Benefits</U>. During the Term, Employee shall be eligible to participate in the benefit plans and programs of the Company that are
generally available to other members of the Company&#146;s senior executive team, subject to the terms and conditions of such plans and programs. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) <U>Paid-Time Off</U>. Employee shall be entitled to 13 days paid-time off, and any holidays that are generally afforded to the
Company&#146;s employees, in each case, per calendar year during the Term, prorated for the portion(s) of any partial calendar year during the Term. Employee may take paid-time off only with the consent of the CEO, which consent shall not be
withheld unreasonably. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) <U>Business Expenses</U>. The Company shall provide Employee a Company-owned wireless smartphone and
Company-owned laptop computer during the Term and shall pay or reimburse Employee for all reasonable and necessary business expenses incurred in the performance of his duties to the Company during the Term upon the presentation of appropriate
statements of such expenses. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">3. <U>Equity Awards</U>. (a)&nbsp;<U>Grant</U>. On or as promptly as practicable following the
Start Date, subject to approval by the Compensation Committee, Employee shall receive options (&#147;<U>Options</U>&#148;) to purchase 125,000 shares of Company common stock (&#147;<U>Shares</U>&#148;), with an exercise price equal to the closing
price per Share as reported by the NYSE Amex LLC on the date of grant, in each case, on the terms set forth below and on such other customary terms and conditions as the Company may require. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Vesting and Cancellation</U>. The Options shall initially be unvested and, subject to Employee&#146;s continued employment hereunder,
shall generally vest in equal annual installments of 20% each beginning on September&nbsp;2, 2012 and continuing for the next four anniversaries thereof (each such date, a &#147;<U>Vesting Date</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Treatment upon Termination of Employment</U>. All unvested Options referenced in this Section&nbsp;3 shall be forfeited upon the
termination of Employee&#146;s employment with the Company for any reason other than (i)&nbsp;a termination by the Company without Cause or a termination by Employee for Good Reason and (ii)&nbsp;a termination due to Employee&#146;s death or
Disability. In the event that Employee&#146;s employment with the Company is terminated by the Company without Cause or by Employee for Good Reason, subject to the terms and conditions of Section&nbsp;5(e) of this Agreement, a portion of any
unvested Options referenced in this Section&nbsp;3 outstanding as of the Date of Termination shall immediately vest as determined in accordance with the following sentence, and the balance of such Options referenced in this Section&nbsp;3 shall
immediately be forfeited upon the Date of Termination. For purposes of this Section&nbsp;3(c), the portion of Options that shall vest upon a termination pursuant to Section&nbsp;3(c)(i) of this Agreement shall be calculated by multiplying the number
of outstanding and unvested Options that would otherwise have vested on the next Vesting Date by a fraction, (x)&nbsp;the numerator of which shall be the number of days that have elapsed between the Vesting Date immediately preceding the Date of
Termination and the Date of Termination (or, if Employee&#146;s employment is terminated before the first Vesting Date, between September&nbsp;2, 2011 and the Date of Termination), and (y)&nbsp;the denominator of which shall be 365. In the event
that Employee&#146;s employment hereunder terminates due to his death or Disability, all unvested Options referenced in this Section&nbsp;3 shall automatically vest. No amounts shall be payable by the Company at any time with respect to any unvested
Options. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Change of Control</U>. Upon the occurrence of a Change of Control while Employee is still employed by the Company, all
outstanding Options shall automatically vest. If Employee&#146;s employment is terminated without Cause prior to a Change of Control and such termination of employment is in anticipation of the Change of Control and such Change of Control actually
occurs not later than six months following the Date of Termination, then for purposes of this Section&nbsp;3(d), the date immediately preceding the Date of Termination shall be treated as the date of the Change of Control, provided that for purposes
of determining the timing of payments with respect to the vesting of Options, the date of the actual Change of Control shall be deemed to be the Date of Termination. For the purposes of this Agreement, the term &#147;<U>Change of Control</U>&#148;
shall have the meaning ascribed to it in the Company&#146;s 2011 Omnibus Incentive Compensation Plan. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">4. <U>Termination</U>. Employee&#146;s employment hereunder shall be terminated upon the earliest
to occur of any one of the following events (in which case the Term shall terminate as of the applicable Date of Termination): </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)
<U>Expiration of Term</U>. Unless sooner terminated, Employee&#146;s employment hereunder shall terminate automatically in accordance with Section&nbsp;1(a) of this Agreement on the Expiration Date, unless otherwise agreed by the parties, in which
case employment will continue on an at-will basis or pursuant to the terms of any subsequent agreement between Employee and the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Death</U>. Employee&#146;s employment hereunder shall terminate upon his death. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Cause</U>. The Company may terminate Employee&#146;s employment hereunder for Cause by written notice at any time. For purposes of this
Agreement, the term &#147;Cause&#148; shall mean Employee&#146;s (i)&nbsp;dereliction of duties or his gross negligence or willful failure to perform his duties hereunder or willful refusal to follow any lawful directive of the CEO or the Board;
(ii)&nbsp;abuse of or dependency on alcohol or drugs (illicit or otherwise) that adversely affects Employee&#146;s performance of duties hereunder; (iii)&nbsp;commission of any fraud, embezzlement, theft or dishonesty, or any deliberate
misappropriation of money or other assets of the Company; (iv)&nbsp;breach of any term of this Agreement or any agreement governing any of the equity compensation referred to in Section&nbsp;3 of this Agreement (the &#147;<U>Equity
Compensation</U>&#148;), or breach of his fiduciary duties to the Company; (v)&nbsp;any willful act, or failure to act, in bad faith to the detriment of the Company; (vi)&nbsp;willful failure to cooperate in good faith with a governmental or
internal investigation of the Company or any of its directors, managers, officers or employees, if the Company requests his cooperation; and (vii)&nbsp;conviction of, or plea of nolo contendere to, a felony or any serious crime; provided that in
cases where cure is possible, Employee shall first be provided a 15-day cure period. If, subsequent to Employee&#146;s termination of employment hereunder for any reason other than by the Company for Cause, it is determined in good faith by the CEO
that Employee&#146;s employment could have been terminated by the Company for Cause pursuant to this Section&nbsp;4(c), Employee&#146;s employment shall, at the election of the CEO at any time up to six months after learning of the events
constituting Cause, but in no event more than two years after the occurrence of such events, be deemed to have been terminated for Cause retroactively to the date the events giving rise to Cause occurred. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Without Cause</U>. The Company may terminate Employee&#146;s employment hereunder without Cause by written notice at any time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) <U>Good Reason</U>. Employee may terminate his employment hereunder for Good Reason in accordance with the terms of this
Section&nbsp;4(e). For purposes of this Agreement, &#147;<U>Good Reason</U>&#148; shall mean, without first obtaining Employee&#146;s written consent: (i)&nbsp;the Company materially breaches the terms of this Agreement; (ii)&nbsp;the assignment of
Employee to a position that is substantially inconsistent with Employee&#146;s professional skills and experience level as of the Start Date (including, for example, a change in Employee&#146;s status to a non-exempt employee for purposes of the
Fair Labor Standards Act); (iii)&nbsp;the Company reduces the Base Salary; or (iv)&nbsp;the Company requires that Employee report to someone other than the CEO; <U>provided</U> that, the Company shall first be provided a 30-day cure period (the
&#147;<U>Cure Period</U>&#148;), following receipt of written notice setting forth in reasonable detail the specific conduct of the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Company that constitutes Good Reason, to cease, and to cure, any conduct specified in such written notice; <U>provided</U> <U>further</U>, that such notice shall be provided to the Company within
45&nbsp;days of the occurrence of the conduct constituting Good Reason. If, at the end of the Cure Period, the circumstance that constitutes Good Reason has not been remedied, Employee will be entitled to terminate employment for Good Reason during
the 30-day period that follows the end of the Cure Period. If Employee does not terminate employment during such 30-day period, Employee will not be permitted to terminate employment for Good Reason as a result of such event. If the Company disputes
the existence of Good Reason, Employee shall have the burden of proof to establish that Good Reason does exist or that the circumstances that gave rise to Good Reason have not been cured. For the avoidance of doubt, a change in Employee&#146;s title
shall not constitute Good Reason for purposes of this Agreement, including, without limitation, pursuant to Section&nbsp;4(e)(i) or 4(e)(ii). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) <U>Voluntarily Resignation</U>. Employee may voluntarily terminate his employment hereunder at any time upon at least 30 days&#146;
advance written notice to the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) <U>Disability</U>. Employee&#146;s employment hereunder shall terminate in the event of
Employee&#146;s Disability. For purposes of this Agreement, &#147;<U>Disability</U>&#148; shall mean the inability of Employee, due to illness, accident or any other physical or mental incapacity, to perform Employee&#146;s duties for the Company
for an aggregate of 180 days within any period of 12&nbsp;consecutive months, which inability is determined to be total and permanent by a board-certified physician selected by the Company, and the determination of such physician shall be binding
upon Employee and the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) &#147;<U>Date of Termination</U>&#148; shall mean: (i)&nbsp;the scheduled expiration of the Term in
the event of termination of Employee&#146;s employment pursuant to Section&nbsp;4(a) of this Agreement; (ii)&nbsp;the date of Employee&#146;s death in the event of termination of Employee&#146;s employment pursuant to Section&nbsp;4(b) of this
Agreement; (iii)&nbsp;the date of the Company&#146;s delivery of a notice of termination to Employee or such later date as specified in such notice in the event of termination by the Company pursuant to Section&nbsp;4(c) or 4(d) of this Agreement;
(iv)&nbsp;the 30<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> date following delivery of Employee&#146;s notice to the Company of his resignation in accordance with Section&nbsp;4(e) or 4(f) of this Agreement (or such earlier date as
selected by the Company provided that the Company continues to pay or provide to Employee the compensation and benefits specified under Sections 2 and 3 of this Agreement through such 30<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> date)
and (v)&nbsp;the date of a determination of Employee&#146;s Disability in the event of a termination of Employee&#146;s employment pursuant to Section&nbsp;4(g) of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">5. <U>Termination Payments</U>. (a)&nbsp;<U>General</U>. Except as otherwise set forth in this Section&nbsp;5, following any termination of
Employee&#146;s employment hereunder, the obligations of the Company to pay or provide Employee with compensation and benefits under Section&nbsp;2 of this Agreement shall cease, and the Company shall have no further obligations to provide
compensation or benefits to Employee hereunder except for payment of (i)&nbsp;any unpaid Base Salary accrued through the Date of Termination; (ii)&nbsp;to the extent required by law, any unused vacation accrued through the Date of Termination, and
(iii)&nbsp;any unpaid or unreimbursed obligations and expenses under Section&nbsp;2(f) of this Agreement accrued or incurred through the Date of Termination (collectively items (a)(i) through (a)(iii) above, the &#147;<U>Accrued Benefits</U>&#148;).
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
The payments referred to in Sections 5(a)(i) and (ii)&nbsp;of this Agreement shall be paid within 30&nbsp;days following the Date of Termination. The payments referred to in
Section&nbsp;5(a)(iii) of this Agreement shall be paid at the times such amounts would otherwise be paid had Employee&#146;s services hereunder not terminated. Upon termination of Employee&#146;s employment for any reason, all unvested Options shall
be cancelled without payment therefor except as otherwise specifically provided in Section&nbsp;3(c) or 3(d) of this Agreement. The payments and benefits to be provided to Employee under Sections 5(c) and (d)&nbsp;of this Agreement, if any, shall in
all events be subject to the satisfaction of the conditions of Section&nbsp;5(e) of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Automatic Expiration of the
Term, Voluntary Resignation, or Cause</U>. If Employee&#146;s employment is terminated pursuant to Section&nbsp;4(a), 4(c) or 4(f) of this Agreement, the Company shall have no obligation to Employee other than with respect to the Accrued Benefits.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Death, Disability, Without Cause or for Good Reason</U>. In the event of a termination by reason of Employee&#146;s death or
Disability or in the event that, either prior to a Change of Control or more than one year following a Change of Control, the Company terminates Employee&#146;s employment hereunder without Cause or Employee resigns for Good Reason, Employee (or his
estate) shall be entitled to: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) the Accrued Benefits; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) a cash payment (the &#147;<U>Severance Payment</U>&#148;) equal to one year&#146;s Base Salary, as in effect on the Date of Termination
(payable as set forth in Section&nbsp;5(e) of this Agreement), plus any Annual Bonus that the Company has notified Employee in writing that Employee has earned prior to the Date of Termination but is unpaid as of the Date of Termination, and, except
in the case of a termination by reason of Employee&#146;s death, medical and dental coverage for a period of 12 months from the Date of Termination; provided that (x)&nbsp;any monies Employee earns from any other work, whether as an employee or as
an independent contractor, while Employee is receiving any Severance Payments shall reduce, on a dollar-for-dollar basis, the amount that the Company is obligated to pay Employee under this Section&nbsp;5(c)(ii) and (y)&nbsp;if Employee secures
other employment, any medical or dental benefits provided under this Section&nbsp;5(c)(ii) shall cease as of the commencement of such employment; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii) accelerated vesting of a portion of any outstanding Options to the extent set forth in Section&nbsp;3(c) of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Without Cause or for Good Reason Following a Change of Control</U>. In the event that, within one year following a Change of Control,
the Company terminates Employee&#146;s employment hereunder without Cause or Employee resigns for Good Reason, Employee shall be entitled to: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) the Accrued Benefits; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) (x)&nbsp;a cash payment (the &#147;<U>CIC Severance Payment</U>&#148;) equal to three times the sum of (a)&nbsp;the Base Salary, as in
effect on the Date of Termination (payable as set forth in Section&nbsp;5(e) of this Agreement), and (b)&nbsp;the target Annual Bonus, assuming for purposes of this Section&nbsp;5(d)(ii) that the target Annual Bonus is equal to 100% of the Base
Salary (payable as set </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
forth in Section&nbsp;5(e) of this Agreement), (y)&nbsp;any Annual Bonus that the Company has notified Employee in writing that Employee has earned prior to the Date of Termination but is unpaid
as of the Date of Termination, and (z)&nbsp;medical and dental coverage for a period of 36 months from the Date of Termination. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e)
<U>Conditions Precedent and Subsequent</U>. The payments and benefits provided under Sections 5(c) and 5(d) of this Agreement (other than the Accrued Benefits and other than in the event of termination by reason of Employee&#146;s death or
Disability) are subject to and conditioned upon (i)&nbsp;Employee having provided, within 30 days after the Date of Termination (or such greater period as required by law), an irrevocable waiver and general release agreement in a form satisfactory
to the Company that has become effective and irrevocable in accordance with its terms, and (ii)&nbsp;Employee&#146;s compliance with Sections 6 and 7 of this Agreement. Employee shall, upon request by the Company, be required to repay to the Company
(net of any taxes paid by Employee on such payments), and the Company shall have no further obligation to pay, the Severance Payment or CIC Severance Payment, as applicable, in the event Employee receives, within six months after the occurrence of
the breach, written notice from the Company that, in the reasonable judgment of the CEO, Employee has materially breached his obligations under Section&nbsp;6 or 7 of this Agreement; <U>provided</U>, <U>however</U>, that, in cases where cure is
possible, Employee shall first be provided a 15-day cure period to cease, and to cure, such conduct. The Severance Payment if any, payable hereunder shall be paid in substantially equal installments over the 12-month period, following the Date of
Termination, consistent with the Company&#146;s payroll practices, with the first installment to be paid within 15 days after the condition described in Section&nbsp;5(e)(i) of this Agreement has been satisfied and with any installments that would
otherwise have been paid prior to such date accumulated and paid in a lump sum on the first date on which payments are made in accordance with the terms of this sentence. The CIC Severance Payment, if any, payable hereunder shall be paid in one lump
sum within 15 days after the condition described in Section&nbsp;5(e)(i) of this Agreement has been satisfied; <U>provided</U>, <U>however</U>, that, unless the CIC Severance Payment relates to a transaction that satisfies the requirements of Treas.
Reg. &#167; 1.409A-3(i)(5), any portion of the CIC Severance Payment that constitutes deferred compensation within the meaning of Section&nbsp;409A of the Internal Revenue Code of 1986, as amended (&#147;<U>Section 409A</U>&#148;), will be paid at
the earliest date that is permitted in accordance with the schedule that is applicable to the Severance Payment. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) <U>Forfeiture of
Equity Compensation Awards</U>. Notwithstanding anything to the contrary herein and without limiting any rights and remedies available to the Company under the terms of this Agreement or otherwise at law or in equity (including as may be required by
law or pursuant to policies of the Company as may be in effect from time to time), in the event the Company terminates Employee&#146;s employment for Cause or if Employee violates the restrictive covenants set forth in Sections 6 and 7 of this
Agreement or engages in fraud or willful misconduct that contributes materially to any financial restatement or material loss to the Company or any of its affiliates, the Company may, (i)&nbsp;in the case of a termination for Cause, at any time up
to six months after such termination, or (ii)&nbsp;in the case of a violation of the restrictive covenants or engaging in fraud or willful misconduct, at any time up to six months after learning of such conduct, but in no event more than two years
after Employee engages in such conduct, terminate or cancel any equity compensation awards granted to Employee by the Company, including any vested amounts thereof, and require Employee to forfeit or remit to the Company any amount payable, or the
after-tax net amount paid or received by Employee, in respect of any such equity compensation awards; <U>provided</U>, <U>however</U>, that, in cases where cure is possible, Employee shall first be provided a 15-day cure period to cease, and to
cure, such conduct. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">6. <U>Non-Solicitation</U>. (a)&nbsp;During the Term and during the Restricted Period, Employee
hereby agrees not to, directly or indirectly, solicit or hire or assist any other person or entity in soliciting or hiring any employee of the Company, or any of its affiliates (the &#147;<U>Company Entities</U>&#148;), to perform services for any
entity (other than a Company Entity) or attempt to induce any such employee to leave the service of a Company Entity, or solicit, hire or engage on behalf of himself or any other person, any employee of a Company Entity, or anyone who was employed
by a Company Entity, during the twelve-month period preceding such hiring or engagement. &#147;<U>Restricted Period</U>&#148; means three years following termination of Employee&#146;s employment for any reason. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) During the Term and during the Restricted Period, Employee hereby agrees not to, directly or indirectly, solicit, encourage, advise or
influence any individuals, partnerships, corporations, professional associations or other business organizations that have a business relationship with any Company Entity during the Term or for the three years thereafter (the &#147;<U>Company&#146;s
Clients</U>&#148;) or to discontinue or reduce the extent of the relationship between the Company Entities and the Company&#146;s Clients or to obtain or seek products or services the same as or similar to the Company Entities from any other source
not affiliated with the Company Entities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">7. <U>Confidentiality; Non-Compete; Non-Disclosure; Non-Disparagement; Cooperation</U>.
(a)&nbsp;<U>Confidentiality</U>. (i)&nbsp;Employee hereby agrees that, during the Term and thereafter, he will hold in strict confidence any Confidential Information related to any of the Company Entities. For purposes of this Agreement,
&#147;<U>Confidential Information</U>&#148; shall mean all confidential or proprietary information of any of the Company Entities (in whatever form), including, without limitation: any information, observations and data concerning the business or
affairs or operation of the Company Entities developed by Employee during the Term or which any Company Entity or any of their respective members, directors, officers, managers, partners, employees, agents, advisors, attorneys, accountants,
consultants, investment bankers, investment advisors or financing sources at any time furnishes or has furnished to Employee in connection with the business of any of the Company Entities; the Company&#146;s (and any of its respective
affiliates&#146;) investment methodologies or models, investment advisory contracts, fees and fee schedules or investment performance (&#147;<U>Track Records</U>&#148;); technical information or reports; brand names, trademarks, formulas; trade
secrets; unwritten knowledge and &#147;know-how&#148;; operating instructions; training manuals; customer lists; customer buying records and habits; product sales records and documents, and product development, marketing and sales strategies; market
surveys; marketing plans; profitability analyses; product cost; long-range plans; information relating to pricing, competitive strategies and new product development; information relating to any forms of compensation or other personnel-related
information; contracts and supplier lists and any information relating to financial data, strategic business plans; information about any other third parties in respect of which any Company Entity has a business relationship or owes a duty of
confidentiality; and all notes, analyses, compilations, forecasts, studies or other documents prepared by Employee that contain or reflect any such information and which is not known to the public generally other than as a result of Employee&#146;s
breach of this Agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Without limiting the foregoing, Employee acknowledges and agrees that the Track Records shall not be the work of any one individual (including Employee) and are the exclusive property of the
Company and its affiliates, as applicable, and agrees that he shall in no event claim the Track Records as his own following termination of his employment with the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) Except as expressly set forth otherwise in this Agreement (including, without limitation, pursuant to Section&nbsp;8 of this Agreement),
Employee agrees that he shall not disclose the terms of this Agreement except to his immediate family and his financial and legal advisors, or as may be required by law or ordered by a court. Employee further agrees that any disclosure to his
financial and legal advisors will only be made after such advisors acknowledge and agree to maintain the confidentiality of this Agreement and its terms. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii) Employee further agrees that he will not improperly use or disclose any confidential information or trade secrets, if any, of any former
employers of Employee or any other person to whom Employee has an obligation of confidentiality, and will not bring onto the premises of the Company or its affiliates any unpublished documents or any property belonging to any such former employer or
other person to whom Employee has an obligation of confidentiality unless consented to in writing by the former employer or such other person. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Non-Competition</U>. Employee and the Company agree that Employee will occupy a high-level and unique position of trust and confidence
with the Company Entities and will have access to their Confidential Information, and that they would likely suffer significant harm from Employee&#146;s competing with them during the Term and for some period of time thereafter. Accordingly,
Employee agrees that he will not, during the Term and during the Non-Compete Period, directly or indirectly become employed by, engage in business with, serve as an agent or consultant to, become an employee, partner, member, principal, stockholder
or other owner (other than a holder of less than 1% of the outstanding voting shares of any publicly held company) of, any Competitive Business, or otherwise perform services relating to the business of any of the Company Entities, or businesses
they are actively considering, at the time of the termination or during the one year prior to termination (the &#147;<U>Business</U>&#148;) for any Competitive Business (whether or not for compensation). For purposes of this Agreement,
&#147;<U>Competitive Business</U>&#148; shall mean any individual, employeeship, corporation, limited liability company, partnership, unincorporated organization, trust, joint venture or other entity (i)&nbsp;that engages in or may engage in
acquisition related or mergers and acquisition activities related to the transportation or third-party logistics industry, including, without limitation, researching, analyzing and evaluating companies for possible investment in or acquisition of,
for itself or clients, (ii)&nbsp;that engages in or may engage in the Business, including, without limitation, any providers of third-party logistics services, including, without limitation, freight brokerage, freight forwarding, expediting,
internet load boards or intermodal providers, or firms such as CH Robinson, Expeditors International of Washington, Inc., Echo Global Logistics Inc., Roadrunner Transportation Systems, TransCore, Internet Truckstop LLC, and Hub Group Inc., or
(iii)&nbsp;that otherwise competes with the Company Entities anywhere in which the Company Entities engage in or intend to engage in the Business or where any of the Company Entities&#146; customers are located; <U>provided</U>, <U>however</U>,
that, for purposes of clause (i)&nbsp;of this definition, the transportation industry shall not include the automotive retail industry. &#147;<U>Non-Compete Period</U>&#148; means (x)&nbsp;one year following termination of Employee&#146;s employment
by the Company without Cause or by Employee for Good Reason and (y)&nbsp;three years following termination of Employee&#146;s employment for any reason not covered by clause (x)&nbsp;of this definition. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Extended Non-Competition</U>. In the event that Employee&#146;s employment with the
Company is terminated by the Company without Cause or by Employee for Good Reason, the Company shall have the right to extend the Non-Compete Period for up to two additional <FONT STYLE="white-space:nowrap">12-month</FONT> periods (each, an
&#147;<U>Extended Non-Compete Period</U>&#148;) beyond the completion of the Non-Compete Period. If the Company elects to extend the Non-Compete Period or the Extended Non-Compete Period, it will notify Employee in writing of such fact not later
than the 90th day prior to the expiration of the Non-Compete Period or the then-current Extended Non-Compete Period, as applicable. By signing this Agreement, Employee agrees to accept and abide by the Company&#146;s election. If the Company elects
to extend the Non-Compete Period, Employee agrees that, during any Extended Non-Compete Period, Employee shall be bound by the restrictions set forth in Section&nbsp;7(b) in the same manner applicable during the Non-Compete Period, and the Company
agrees to pay Employee subject to Section&nbsp;5(e) of this Agreement during each month of the Extended Non-Compete Period, in an amount equal to his monthly Base Salary as in effect on the Date of Termination. Payment for any partial month will be
prorated. Payment of Employee&#146;s Base Salary during the Extended Non-Compete Period will be made pursuant to the Company&#146;s normal and customary payroll procedures. If the Company elects to extend the Non-Compete Period or the Extended
Non-Compete Period, any monies Employee earns from any other work during such periods, whether as an employee or as an independent contractor, will reduce, dollar for dollar, the amount that the Company is obligated to pay Employee under this
Section&nbsp;7(c). Payments made by the Company under this Section&nbsp;7(c) are made solely for the extension of the non-compete covenant and do not render Employee either an employee of, or a consultant to, the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Competitive Opportunity</U>. If, at any time during the Term, Employee (i)&nbsp;acquires knowledge of a potential investment,
investment opportunity or business venture which may be an appropriate investment by the Company, or in which the Company could otherwise have an interest or expectancy (a &#147;<U>Competitive Opportunity</U>&#148;), or (ii)&nbsp;otherwise is then
exploiting any Competitive Opportunity, Employee shall promptly bring such Competitive Opportunity to the Company. In such event, Employee shall not have the right to hold any such Competitive Opportunity for his (and his agents&#146;,
employees&#146; or affiliates&#146;) own account and benefit or to recommend, assign or otherwise transfer or deal in such Competitive Opportunity with persons other than the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) <U>Return of Company Property</U>. All documents, data, recordings, or other property, including, without limitation, smartphones,
computers and other business equipment, whether tangible or intangible, including all information stored in electronic form, obtained or prepared by or for Employee and utilized by Employee in the course of his employment with the Company shall
remain the exclusive property of the Company and Employee shall return all copies of such property upon any termination of his employment and as otherwise requested by the Company during the Term. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) <U>Non-Disparagement</U>. Employee hereby agrees not to defame or disparage any of the Company Entities or any of its officers, directors,
members, partners or employees (collectively, the &#147;<U>Company Parties</U>&#148;), and to cooperate with the Company upon reasonable </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
request, in refuting any defamatory or disparaging remarks by any third party made in respect of any of the Company Parties. Employee shall not, directly or indirectly, make (or cause to be made)
any comment or statement, oral or written, including, without limitation, in the media or to the press or to any individual or entity, that could reasonably be expected to adversely affect the reputation of any of the Company Parties or the conduct
of its, his or their business. The Company shall request that its directors and executive officers not defame or disparage Employee; <U>provided</U>, <U>however</U>, that the failure of any director, executive officer or employee of the Company to
comply with such request shall in no way constitute a breach or violation of the Company&#146;s obligations hereunder or otherwise subject the Company to any liability. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) <U>Cooperation</U>. During the Term and thereafter (including, without limitation, following the Date of Termination), Employee shall,
upon reasonable notice and without the necessity of any Company Entity obtaining a subpoena or court order, provide Employee&#146;s reasonable cooperation in connection with any suit, action or proceeding (or any appeal from any suit, action or
proceeding), and any investigation and/or defense of any claims asserted against any Company Entity that relates to events occurring during Employee&#146;s employment with any Company Entity as to which Employee may have relevant information
(including furnishing relevant information and materials to the relevant Company Entity or its designee and/or providing testimony at depositions and at trial), provided that the Company shall reimburse Employee for expenses reasonably incurred in
connection with any such cooperation occurring after the termination of Employee&#146;s employment and provided that any such cooperation occurring after the Date of Termination shall be scheduled to the extent reasonably practicable so as not to
unreasonably interfere with Employee&#146;s business or personal affairs. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">8. <U>Notification of Subsequent Employer</U>. Employee hereby
agrees that, prior to accepting employment with any other person during any period during which Employee remains subject to any of the covenants set forth in Section&nbsp;6, 7(b) or 7(c) of this Agreement, Employee shall provide such prospective
employer with written notice of such provisions of this Agreement, with a copy of such notice delivered simultaneously to the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">9.
<U>Injunctive Relief</U>. Employee acknowledges that it is impossible to measure in money the damages that will accrue to the Company Parties in the event that Employee breaches any of the restrictive covenants provided in Sections 6 and 7 of this
Agreement. In the event that Employee breaches any such restrictive covenant, the Company Parties shall be entitled to an injunction restraining Employee from violating such restrictive covenant (without posting any bond). If any of the Company
Parties shall institute any action or proceeding to enforce any such restrictive covenant, Employee hereby waives the claim or defense that such Company Party has an adequate remedy at law and agrees not to assert in any such action or proceeding
the claim or defense that there is an adequate remedy at law. The foregoing shall not prejudice the Company&#146;s right to require Employee to account for and pay over to the Company, and Employee hereby agrees to account for and pay over, the
compensation, profits, monies, accruals or other benefits derived or received by Employee as a result of any transaction constituting a breach of any of the restrictive covenants provided in Sections 6 and 7 of this Agreement or to seek any other
relief to which it may be entitled. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">10. <U>Miscellaneous</U>. (a)&nbsp;<U>Notices</U>. Any notice or other communication required or
permitted under this Agreement shall be effective only if it is in writing and shall be deemed to be given when delivered personally, or four days after it is mailed by registered or certified mail, postage prepaid, return receipt requested or one
day after it is sent by overnight courier service via UPS or FedEx and, in each case, addressed as follows (or if it is sent through any other method agreed upon by the parties): </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">If to the Company: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">XPO
Logistics, Inc. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Five Greenwich Office Park </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Greenwich, CT 06831 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Attention:
Chief Executive Officer </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">If to Employee: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">During the Term, to his principal office at the Company, and after the Term, to his principal residence as listed in the records of the Company
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">or to such other address as any party may designate by notice to the others. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Entire Agreement</U>. This Agreement shall constitute the entire agreement and understanding among the parties hereto with respect to
Employee&#146;s employment hereunder and supersedes and is in full substitution for any and all prior understandings or agreements (whether written or oral) with respect to Employee&#146;s employment. The Company does not make and has not made, and
Employee does not rely and has not relied on any statement, omission, representation or warranty, written or oral, of any kind or nature whatsoever, regarding the Company or the Equity Compensation, including, without limitation, its or their
present, future, prospective or potential value, worth, prospects, performance, soundness, profit or loss potential, or any other matter or thing whatsoever relating to whether Employee should purchase or accept any Equity Compensation and/or the
consideration therefor. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Amendment; No Waiver</U>. Except as expressly set forth otherwise in this Agreement (including, without
limitation, pursuant to Sections 10(l)(iv) and 10(m) of this Agreement), this Agreement may be amended only by an instrument in writing signed by the parties, and the application of any provision hereof may be waived only by an instrument in writing
that specifically identifies the provision whose application is being waived and that is signed by the party against whom or which enforcement of such waiver is sought. The failure of any party at any time to insist upon strict adherence to any
provision hereof shall in no way affect the full right to insist upon strict adherence at any time thereafter, nor shall the waiver by any party of a breach of any provision hereof be taken or held to be a waiver of any succeeding breach of such
provision or a waiver of the provision itself or a waiver of any other provision of this Agreement. No failure or delay by either party in exercising any right or power hereunder will operate as a waiver thereof, nor will any single or partial
exercise of any such right or power, or any abandonment of any steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. Termination of this Agreement shall not relieve any
party of liability for any breach of this Agreement occurring prior to such termination. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>


 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>No Construction Against Drafter</U>. The parties acknowledge and agree that each party has
reviewed and negotiated the terms and provisions of this Agreement and has had the opportunity to contribute to its revision. Accordingly, any rule of construction to the effect that ambiguities are resolved against the drafting party shall not be
employed in the interpretation of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) <U>Employee Representations and Acknowledgements</U>. Employee represents, warrants
and covenants that as of the date hereof: (i)&nbsp;he has the full right, authority and capacity to enter into this Agreement, (ii)&nbsp;he is ready, willing and able to perform his obligations hereunder and, to his knowledge, no reason exists that
would prevent him from performing his obligations hereunder, (iii)&nbsp;he is not bound by any agreement that conflicts with or prevents or restricts the full performance of his duties and obligations to the Company hereunder during or after the
Term and (iv)&nbsp;the execution and delivery of this Agreement shall not result in any breach or violation of, or a default under, any existing obligation, commitment or agreement to which Employee is subject. Employee acknowledges and agrees that
nothing in this Agreement shall (x)&nbsp;entitle Employee to any compensation or other interest in respect of any activity of Jacobs Private Equity, LLC, a Delaware limited liability company (&#147;<U>JPE</U>&#148;) or Bradley&nbsp;S. Jacobs other
than with respect to the Company; (y)&nbsp;restrict or prohibit the Company, Bradley&nbsp;S. Jacobs or any of his affiliates from having business interests and engaging in business activities in addition to those relating to the Company; or
(z)&nbsp;restrict the investments which the Company, Bradley&nbsp;S. Jacobs or JPE or any of his or its affiliates may make, regardless of whether such investment opportunity or investment may be deemed to be a Competitive Opportunity. Employee
acknowledges that he has carefully read this Agreement and has given careful consideration to the restraints imposed upon Employee by this Agreement, and is in full accord as to the necessity of such restraints for the reasonable and proper
protection of the Confidential Information, business strategies, employee and customer relationships and goodwill of the Company Entities now existing or to be developed in the future. Employee expressly acknowledges and agrees that each and every
restraint imposed by this Agreement is reasonable with respect to subject matter, industry scope, time period and geographic area. Employee agrees to comply with each of the covenants contained in Sections 6 and 7 of this Agreement in accordance
with their terms, and Employee shall not, and hereby agrees to waive and release any right or claim to, challenge the reasonableness, validity or enforceability of any of the covenants contained in Sections 6 and 7 of this Agreement. Employee
further acknowledges that although Employee&#146;s compliance with the covenants contained in Sections 6 and 7 of this Agreement may prevent Employee from earning a livelihood in a business similar to the business of the Company Entities,
Employee&#146;s experience and capabilities are such that Employee has other opportunities to earn a livelihood and adequate means of support for Employee and Employee&#146;s dependents. Employee acknowledges that the Company has advised him that it
is in his best interest to consult with an attorney prior to executing this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) <U>Survival</U>. Employee&#146;s obligations
under Sections 6 and 7 of this Agreement shall remain in full force and effect for the entire period provided therein notwithstanding any termination of employment or other expiration of the Term or termination of this Agreement. The terms and
conditions of Sections 5, 6, 7, 8 and 9 of this Agreement shall survive the Term and termination of Employee&#146;s employment. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>


 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) <U>Assignment</U>. This Agreement is binding on and is for the benefit of the parties hereto
and their respective successors, assigns, heirs, executors, administrators and other legal representatives. This Agreement is personal to Employee; and neither this Agreement nor any right or obligation hereunder may be assigned by Employee without
the prior written consent of the Company (or except by will or the laws of descent and distribution), and any purported assignment in violation of this Section&nbsp;10(g) shall be void. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) <U>Severability</U>. If any provision of this Agreement or the application thereof is held invalid, the invalidity shall not affect other
provisions or applications of this Agreement which can be given effect without the invalid provisions or applications and to this end the provisions of this Agreement are declared to be severable. If any term or provision of this Agreement is
invalid, illegal or incapable of being enforced by any applicable law or public policy, all other conditions and provisions of this Agreement shall nonetheless remain in full force and effect so long as the economic and legal substance of the
transactions contemplated by this Agreement is not affected in any manner materially adverse; <U>provided</U>, <U>however</U>, that in the event of a final, nonreviewable, non-appealable determination that any provision of Section&nbsp;6 or 7 of
this Agreement (whether in whole or in part) is void or constitutes an unreasonable restriction against Employee, such provision shall not be rendered void but shall be deemed to be modified to the minimum extent necessary to make such provision
enforceable for the longest duration and the greatest scope as may constitute a reasonable restriction under the circumstances. Subject to the foregoing, upon such determination that any term or other provision is invalid, illegal or incapable of
being enforced, the parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated hereby be
consummated as originally contemplated to the fullest extent possible. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) <U>Tax Withholding</U>. The Company may withhold from any
amounts payable to Employee hereunder all federal, state, city, foreign or other taxes that the Company may reasonably determine are required to be withheld pursuant to any applicable law or regulation (it being understood that Employee shall be
responsible for payment of all taxes in respect of the payments and benefits provided herein). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) <U>Cooperation Regarding Equity
Compensation</U>. Employee expressly agrees that he shall execute such other documents as reasonably requested by the Company to effect the terms of this Agreement and the issuance of the Equity Compensation as contemplated hereunder in compliance
with applicable law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(k) <U>Governing Law; Arbitration; Consent to Jurisdiction; Waiver of Jury Trial</U>. (i)&nbsp;This Agreement shall
be governed by and construed in accordance with its express terms, and otherwise in accordance with the laws of the State of New York without reference to its principles of conflicts of law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) Any claim initiated by Employee arising out of or relating to this Agreement, or the breach thereof, or Employee&#146;s employment, or
the termination thereof, shall be resolved by binding arbitration before a single arbitrator in the City, County and State of New York administered by the American Arbitration Association in accordance with its Commercial Arbitration Rules, and
judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction thereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>


 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii) Any claim initiated by the Company arising out of or relating to this Agreement, or the
breach thereof, or Employee&#146;s employment, or the termination thereof, shall, at the election of the Company be resolved in accordance with Section&nbsp;10(k)(ii) or (iv)&nbsp;of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iv) Employee hereby irrevocably submits to the jurisdiction of any state or federal court located in the City, County and State of New York;
<U>provided</U>, <U>however</U>, that nothing herein shall preclude the Company from bringing any suit, action or proceeding in any other court for the purposes of enforcing the provisions of this Section&nbsp;10(k) or enforcing any judgment or
award obtained by the Company. Employee waives, to the fullest extent permitted by applicable law, any objection which he now or hereafter has to personal jurisdiction or to the laying of venue of any such suit, action or proceeding brought in an
applicable court described in this Section&nbsp;10(k)(iv), and agrees that he shall not attempt to deny or defeat such personal jurisdiction by motion or other request for leave from any court. Employee agrees that, to the fullest extent permitted
by applicable law, a final and non-appealable judgment in any suit, action or proceeding brought in any applicable court described in this Section&nbsp;10(k)(iv) shall be conclusive and binding upon Employee and may be enforced in any other
jurisdiction. EMPLOYEE EXPRESSLY AND KNOWINGLY WAIVES ANY RIGHT TO A JURY TRIAL IN THE EVENT THAT ANY ACTION ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE BREACH THEREOF, OR EMPLOYEE&#146;S EMPLOYMENT, OR THE TERMINATION THEREOF, IS LITIGATED
OR HEARD IN ANY COURT. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(v) The prevailing party shall be entitled to recover all legal fees and costs (including reasonable
attorney&#146;s fees and the fees of experts) from the losing party in connection with any claim arising under this Agreement or Employee&#146;s employment hereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(l) <U>Section&nbsp;409A</U>. (i)&nbsp;It is intended that the provisions of this Agreement comply with Section&nbsp;409A, and all provisions
of this Agreement shall be construed and interpreted in a manner consistent with the requirements for avoiding taxes or penalties under Section&nbsp;409A. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) Neither Employee nor any of his creditors or beneficiaries shall have the right to subject any deferred compensation (within the meaning
of Section&nbsp;409A) payable under this Agreement or under any other plan, policy, arrangement or agreement of or with the Company or any of its affiliates (this Agreement and such other plans, policies, arrangements and agreements, the
&#147;<U>Company Plans</U>&#148;) to any anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment or garnishment. Except as permitted under Section&nbsp;409A, any deferred compensation (within the meaning of
Section&nbsp;409A) payable to Employee or for Employee&#146;s benefit under any Company Plan may not be reduced by, or offset against, any amount owing by Employee to the Company or any of its affiliates. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii) If, at the time of Employee&#146;s separation from service (within the meaning of Section&nbsp;409A), (i)&nbsp;Employee shall be a
specified employee (within the meaning of Section&nbsp;409A and using the identification methodology selected by the Company from time to time) and (ii)&nbsp;the Company shall make a good faith determination that an amount payable under a
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>


 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Company Plan constitutes deferred compensation (within the meaning of Section&nbsp;409A) the payment of which is required to be delayed pursuant to the six-month delay rule set forth in
Section&nbsp;409A in order to avoid taxes or penalties under Section&nbsp;409A, then the Company (or its affiliate, as applicable) shall not pay such amount on the otherwise scheduled payment date but shall instead accumulate such amount and pay it
on the first business day after such six-month period. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iv) Notwithstanding any provision of this Agreement or any Company Plan to the
contrary, in light of the uncertainty with respect to the proper application of Section&nbsp;409A, the Company reserves the right to make amendments to any Company Plan as the Company deems necessary or desirable to avoid the imposition of taxes or
penalties under Section&nbsp;409A. In any case, Employee is solely responsible and liable for the satisfaction of all taxes and penalties that may be imposed on Employee or for Employee&#146;s account in connection with any Company Plan (including
any taxes and penalties under Section&nbsp;409A), and neither the Company nor any affiliate shall have any obligation to indemnify or otherwise hold Employee harmless from any or all of such taxes or penalties. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(v) For purposes of Section&nbsp;409A, each payment hereunder will be deemed to be a separate payment as permitted under Treasury Regulation
Section&nbsp;1.409A-2(b)(2)(iii). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(vi) Except as specifically permitted by Section&nbsp;409A, any benefits and reimbursements provided to
Employee under this Agreement during any calendar year shall not affect any benefits and reimbursements to be provided to Employee under this Agreement in any other calendar year, and the right to such benefits and reimbursements cannot be
liquidated or exchanged for any other benefit. Furthermore, reimbursement payments shall be made to Employee as soon as practicable following the date that the applicable expense is incurred, but in no event later than the last day of the calendar
year following the calendar year in which the underlying expense is incurred. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(m) <U>Section&nbsp;105(h)</U>. Notwithstanding any
provision of this Agreement to the contrary, to the extent necessary to satisfy Section&nbsp;105(h) of the Code, the Company will be permitted to alter the manner in which medical benefits are provided to Employee following termination of
Employee&#146;s employment, provided that the after-tax cost to Employee of such benefits shall not be greater than the cost applicable to similarly situated executives of the Company who have not terminated employment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(n) <U>Counterparts</U>. This Agreement may be executed in several counterparts, each of which shall be deemed an original, but all of which
shall constitute one and the same instrument. Signatures delivered by facsimile or electronic means (including by &#147;pdf&#148;) shall be deemed effective for all purposes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(o) <U>Headings</U>. The headings in this Agreement are inserted for convenience of reference only and shall not be a part of or control or
affect the meaning of any provision hereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>


 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first written
above. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="67%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="7">XPO LOGISTICS, INC.</TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">by&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">Bradley S. Jacobs</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">Chief Executive Officer</TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3" ALIGN="center">GORDON E. DEVENS</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
