<SEC-DOCUMENT>0001193125-16-460107.txt : 20160211
<SEC-HEADER>0001193125-16-460107.hdr.sgml : 20160211
<ACCEPTANCE-DATETIME>20160211172500
ACCESSION NUMBER:		0001193125-16-460107
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		8
CONFORMED PERIOD OF REPORT:	20160207
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:		20160211
DATE AS OF CHANGE:		20160211

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:		161412868

	BUSINESS ADDRESS:	
		STREET 1:		5 GREENWICH OFFICE PARK
		CITY:			GREENWICH
		STATE:			CT
		ZIP:			06831
		BUSINESS PHONE:		(855) 976-4636

	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>d139871d8k.htm
<DESCRIPTION>8-K
<TEXT>
<HTML><HEAD>
<TITLE>8-K</TITLE>
</HEAD>
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 <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&nbsp;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): February&nbsp;7, 2016 </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">


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<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>(IRS 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="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Five Greenwich Office Park</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Greenwich, CT</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>06831</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"><B>(Address of principal executive offices)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(Zip Code)</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Registrant&#146;s telephone number, including area code: (855)&nbsp;976-4636 </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>
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<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 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 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 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 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>

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 <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">On February&nbsp;7, 2016, the Compensation Committee of the Board of Directors (the
&#147;Compensation Committee&#148;) of XPO Logistics, Inc. (the &#147;Company&#148;) approved a number of compensation related items described below that are designed to attract, motivate and retain the executives who lead the Company&#146;s
business, to reward them for achieving financial and strategic Company goals and to align their interests with the interests of its shareholders. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Amendment and Restatement of Employment Agreements with the Named Executive Officers </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Effective as of February&nbsp;9, 2016, the Company entered into an Employment Agreement (the &#147;Agreements&#148;) with each of the named executive officers
(the &#147;Named Executive Officers&#148;) in the Company&#146;s proxy statement filed with the Securities and Exchange Commission (the &#147;SEC&#148;) on April&nbsp;8, 2015 (the &#147;2015 Proxy Statement&#148;). The Agreements replace and
supersede prior employment agreements with the Named Executive Officers. The Company entered into the Agreements with the Named Executive Officers in order to (1)&nbsp;incentivize the Named Executive Officers in line with the Company&#146;s
corporate goals and shareholder experience, (2)&nbsp;provide financial incentives for the Named Executive Officers to increase shareholder value, and (3)&nbsp;increase the linkage of pay and performance. The principal terms of the Agreements are
described below. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Term</U>. Each of the Agreements provides for a four-year term, commencing on February&nbsp;9, 2016. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Salary and Annual Incentive Bonus</U>. The Agreements provide that the annual base salary for each of Messrs.&nbsp;Jacobs, Cooper, Hardig, Devens and Malat
will be $625,000, $537,500, $515,000, $500,000 and $500,000 and that the target bonus for each of the Named Executive Officers will be 100 percent of each Named Executive Officer&#146;s annual base salary. In addition, for 2015, the Agreement
provides that each of Messrs.&nbsp;Jacobs, Cooper, Hardig, Devens and Malat are to be paid an annual bonus of $2,375,000, $1,850,000, $1,650,000, $1,650,000 and $1,650,000, respectively. However, Messrs. Jacobs, Cooper, Hardig, Devens and Malat will
have to repay up to $1,400,000, $1,100,000, $1,000,000, $1,000,000 and $1,000,000, respectively, if their employment terminates under certain circumstances described in the Agreements within two years following the date on which the payment was
made, including upon voluntary resignation or termination by the Company. The compensation for executives set forth above is intended to directly link their actual contribution to the achievement of overall business strategic objectives and Company
performance. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Equity Incentive Awards</U>. The Agreements provide for cash-settled, performance-based restricted stock unit (&#147;PRSU&#148;) grants
under the XPO Logistics, Inc. Amended and Restated 2011 Omnibus Incentive Compensation Plan (the &#147;Plan&#148;) to each of the Named Executive Officers as described below, effective as of February&nbsp;9, 2016. In addition, the Agreements provide
that certain performance-based restricted stock units previously granted to the Named Executive Officers shall be amended to reduce the stock price target applicable to the awards from $60 to $32.50 but to increase the adjusted earnings per share
target from $2.50 to $2.75. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Termination Events</U>. Each of the Agreements provides that the Company may terminate the Named Executive
Officer&#146;s employment during the term with or without Cause (as defined in the Agreement) and each of the Named Executive Officers may terminate his employment on 30 days prior written notice to the Company. Other than in the event of the Named
Executive Officer&#146;s death, the severance payments described below are subject to and conditioned upon the Named Executive Officer&#146;s (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; font-size:10pt; font-family:Times New Roman">In the event that a Named Executive Officer dies during the term of the Agreement, or if the
Company terminates his employment without Cause, either prior to a Change of Control or more than two years following a Change of Control, the Named Executive Officer will be entitled to: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<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">Solely in the case of a termination by the Company without Cause, six months&#146; salary, which generally will be reduced by the amount the Named Executive Officer earns while the Named Executive Officer is receiving
the severance payments; 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">Solely in the case of a termination by the Company without Cause, medical and dental coverage for a period of 12 months from the date of termination, or, if earlier, until the Named Executive Officer secures other
employment. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If a Named Executive Officer&#146;s employment is terminated by the Company for Cause, by reason of his Disability or he
voluntarily resigns during the term of the Agreement (other than if such resignation is for Good Reason upon or during the two year period following a Change of Control), he will forfeit any unvested equity-based awards. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Change of Control</U>. In the event that, upon or within the two-year period following a Change of Control, a Named Executive Officer&#146;s 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">Two times the sum of the Named Executive Officer&#146;s annual base salary and target bonus; </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">A pro rata target bonus for the year of termination; 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 24 months from the date of termination. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In the event that any
benefits due or amounts payable to a Named Executive Officer in connection with a Change of Control constitute &#147;parachute payments&#148; within the meaning of Section&nbsp;280G of the Internal Revenue Code of 1986, as amended (the
&#147;Code&#148;), 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 Named Executive Officer on a net after-tax basis. The Named Executive Officers
are 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>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Clawbacks</U>. Under the Agreements, in the event the Company terminates any Named Executive Officer&#146;s
employment for Cause or if a Named Executive Officer violates the restrictive covenants in the 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 terminate or cancel any equity compensation that is unvested or vested and unexercised, require the Named Executive Officer to forfeit any amount payable, or the after-tax net amount paid or received by the Named
Executive Officer, in respect of any equity compensation the vesting of which was accelerated upon termination of the Named Executive Officer&#146;s employment for any reason and require the Named Executive Officer to forfeit or remit to the Company
any shares (or the equivalent value in cash) that were issued to the Named Executive Officer (or cash that was paid to the Named Executive Officer) upon vesting, settlement or exercise, as applicable, of any equity compensation. In addition, if a
Named Executive Officer 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 the Named Executive
Officer of any cash bonus (net of any taxes paid by Employee on such payments) previously paid to the Named Executive Officer, or cancel any earned but unpaid cash bonus or Annual Bonus or adjust the future compensation of the Named Executive
Officer 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. In addition, the Named Executive
Officer&#146;s annual bonus and equity compensation shall be subject to any other claw back or recoupment policy of the Company as may be in effect from time to time or any claw back or recoupment as may be required by applicable law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Restrictive Covenants</U>. Under the Agreements, each of the Named Executive Officers is generally subject to the following restrictive covenants: employee
and customer non-solicitation covenants during his employment and for a period of three years thereafter; confidentiality and mutual non-disparagement covenants during his employment and thereafter; and non-competition covenants during his
employment and for a period of two years thereafter, except that other than following a Change of Control, the Company will have the right to extend the non-compete for an additional year so long as the Company pays the Named Executive Officer his
base salary for the additional one-year period. </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 Agreements does not purport to be complete
and is qualified in its entirety by reference to the full text of the Agreements. A copy of the form of Agreement is attached to this report as Exhibit 10.1 and is incorporated herein by reference. Copies of Exhibit A to the Agreement for each of
Messrs. Jacobs, Cooper, Hardig, Devens and Malat are attached to this report as Exhibits 10.2, 10.3, 10.4, 10.5 and 10.6, 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>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
February&nbsp;9, 2016, pursuant to the terms of the Agreements, the Company made cash-settled PRSU grants under the Plan to each of the Named Executive Officers. 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 SEC on April&nbsp;27, 2012. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Each of the following Named Executive Officers was granted the following number of PRSUs: Mr.&nbsp;Jacobs &#150;
872,600; Mr.&nbsp;Cooper &#150; 196,335; Mr.&nbsp;Hardig &#150; 174,520; Mr.&nbsp;Devens &#150; 174,520; and Mr.&nbsp;Malat &#150; 174,520. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Twenty five
percent of the PRSUs (each, a &#147;Tranche&#148;) vest and are settled in cash on each of the first four anniversaries of the date of grant, subject to the Named Executive Officer&#146;s continued employment through the applicable anniversary and
upon achievement of the following performance goals for each applicable Tranche: for the Tranche scheduled to vest on the first, second, third and fourth anniversaries of the date of grant, the Company&#146;s Adjusted Cash Flow Per Share must be at
least $2.93 for fiscal 2016; $3.96 for fiscal 2017; $5.38 for fiscal 2018; and $6.39 for fiscal 2019, respectively. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Compensation Committee shall have
the authority to determine in its discretion to reduce the applicable annual performance goals based on changes in economic circumstances, the competitive market or other factors it identifies in its discretion. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As an additional condition to earning the PRSUs, the Compensation Committee has also determined that no award will be earned unless the Company&#146;s
Adjusted Cash Flow Per Share for 2016 is at least equal to the Company&#146;s Adjusted Cash Flow Per Share for 2015 for purposes of Section&nbsp;162(m) of the Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;Adjusted Cash Flow Per Share&#148; shall mean (i)&nbsp;Adjusted EBITDA (determined in accordance with the Company&#146;s monthly operating reports and
for external reporting purposes and adjusted for the impact of stock and phantom stock compensation) less any capital expenditures and interest divided by (ii)&nbsp;diluted shares outstanding. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Adjusted Cash Flow Per Share metric was selected consistent with the Company&#146;s philosophy to encourage appropriate business risk without
incentivizing behaviors that may have a material adverse effect on the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The vesting of the foregoing awards may, in certain circumstances, be
accelerated, including full acceleration upon a Change of Control (as defined in the grant agreement) or a grantee&#146;s death and prorated acceleration of the next Tranche scheduled to vest in the event of a termination without Cause. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition, pursuant to the agreements by which the foregoing equity grants were made, each grantee is prohibited from selling or transferring prior to the
earlier of the grantee&#146;s death, a Change of Control of the Company or September&nbsp;2, 2018 any shares of the Company&#146;s common stock acquired upon exercise or settlement of any equity grant received from the Company (whether on, prior to
or after the date of the foregoing equity grants), except that if determined by the Board of Directors of the Company, this provision does not apply to shares withheld or transferred to cover the exercise price of stock options or tax withholding on
awards. </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 PRSUs does not purport to be complete and is qualified in its entirety by reference to
the full text of the Performance-Based Restricted Stock Unit Award Agreement by which such grants were made, the form of which is attached to this report as Exhibit 10.7 and is incorporated herein by reference. </P>

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<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="10%" 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">(d) Exhibits. </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 STYLE="font-size:1pt">
<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 Employment Agreement, dated as of February 9, 2016</TD></TR>
<TR STYLE="font-size:1pt">
<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">Exhibit A to Employment Agreement, dated as of February 9, 2016, between the Company and Bradley S. Jacobs</TD></TR>
<TR STYLE="font-size:1pt">
<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">Exhibit A to Employment Agreement, dated as of February 9, 2016, between the Company and Troy A. Cooper</TD></TR>
<TR STYLE="font-size:1pt">
<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>10.4</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Exhibit A to Employment Agreement, dated as of February 9, 2016, between the Company and John J. Hardig</TD></TR>
<TR STYLE="font-size:1pt">
<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>10.5</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Exhibit A to Employment Agreement, dated as of February 9, 2016, between the Company and Gordon E. Devens</TD></TR>
<TR STYLE="font-size:1pt">
<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>10.6</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Exhibit A to Employment Agreement, dated as of February 9, 2016, between the Company and Scott B. Malat</TD></TR>
<TR STYLE="font-size:1pt">
<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>10.7</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Form of Performance-Based Restricted Stock Unit Award Agreement</TD></TR>
</TABLE>

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 <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>
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<TR>
<TD WIDTH="46%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="2%"></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">Dated February&nbsp;11, 2016</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3">XPO LOGISTICS, INC.</TD></TR>
<TR STYLE="font-size:1pt">
<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">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <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">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Gordon E. Devens</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Chief Legal Officer</TD></TR>
</TABLE>

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 <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 STYLE="font-size:1pt">
<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 Employment Agreement, dated as of February 9, 2016</TD></TR>
<TR STYLE="font-size:1pt">
<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">Exhibit A to Employment Agreement, dated as of February 9, 2016, between the Company and Bradley S. Jacobs</TD></TR>
<TR STYLE="font-size:1pt">
<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">Exhibit A to Employment Agreement, dated as of February 9, 2016, between the Company and Troy A. Cooper</TD></TR>
<TR STYLE="font-size:1pt">
<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>10.4</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Exhibit A to Employment Agreement, dated as of February 9, 2016, between the Company and John J. Hardig</TD></TR>
<TR STYLE="font-size:1pt">
<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>10.5</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Exhibit A to Employment Agreement, dated as of February 9, 2016, between the Company and Gordon E. Devens</TD></TR>
<TR STYLE="font-size:1pt">
<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>10.6</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Exhibit A to Employment Agreement, dated as of February 9, 2016, between the Company and Scott B. Malat</TD></TR>
<TR STYLE="font-size:1pt">
<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>10.7</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Form of Performance-Based Restricted Stock Unit Award Agreement</TD></TR>
</TABLE>
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>d139871dex101.htm
<DESCRIPTION>EX-10.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.1</TITLE>
</HEAD>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EMPLOYMENT AGREEMENT </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">This Employment Agreement (this &#147;<U>Agreement</U>&#148;), effective as of the date set forth on <U>Exhibit A</U> (the &#147;<U>Start
Date</U>&#148;), by and between XPO Logistics, Inc., a Delaware corporation (together with its successors and assigns, the &#147;<U>Company</U>&#148;), and the individual named on <U>Exhibit A</U> (&#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 Company desires to continue to employ Employee and Employee desires to accept such employment with the Company, subject to 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.</U> The term of Employee&#146;s employment hereunder
(the &#147;<U>Term</U>&#148;) shall begin on the Start Date and end on February&nbsp;9, 2020. Notwithstanding the foregoing, the Term may be earlier terminated by either party in accordance with the terms of Section&nbsp;5 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">2. <U>Employment Duties.</U> During the Term, Employee shall serve in the position set forth on <U>Exhibit A</U> (or such other positions as
may be assigned by the Reporting Person (as defined below), 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. Employee shall perform such duties as are customarily performed by an individual in Employee&#146;s
position at a public company and as assigned from time to time by the individual set forth on <U>Exhibit A</U> or his designee (the &#147;<U>Reporting Person</U>&#148;), and Employee shall report directly to the Reporting Person. 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;2(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">3. <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 per annum set forth on <U>Exhibit A</U> (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>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>2015 Annual Bonus.</U> Employee shall be paid an annual bonus with respect to 2015
promptly (but in no event later than five business days) following the Start Date in the amount set forth on <U>Exhibit A</U>. In addition, Employee shall be paid an additional portion of a bonus with respect to 2015 promptly (but in no event later
than five business days) following the Start Date in the amount set forth on <U>Exhibit A</U> (the &#147;<U>2015 Additional Bonus</U>&#148;), provided that, (i)&nbsp;in the event that Employee&#146;s employment is terminated by the Company for Cause
within two years following the date on which the Additional Bonus is paid, Employee will be obligated to repay to the Company immediately the entire amount of the 2015 Additional Bonus, (ii)&nbsp;in the event that the Employee&#146;s employment is
terminated by reason of Employee&#146;s Disability or resignation within two years following the date on which the Additional Bonus is paid, Employee will be required to repay to the Company immediately an amount equal to the product of (A)&nbsp;the
2015 Additional Bonus and (B)&nbsp;a fraction, the numerator of which is the number of days from the Date of Termination through the second anniversary of the date on which the Additional Bonus is paid and the denominator of which is 730,
(iii)&nbsp;in the event that the Employee&#146;s employment is terminated by reason of Employee&#146;s termination by the Company without Cause, Employee will be required to repay to the Company immediately an amount equal to the product of
(A)&nbsp;the 2015 Additional Bonus and (B)&nbsp;a fraction, the numerator of which is the number of days from the date that is six months following the Date of Termination through the second anniversary of the date on which the Additional Bonus is
paid and the denominator of which is 730 (it being understood that the repayment obligation under this clause shall in no event be less than zero). Notwithstanding the provisions of the immediately preceding sentence, the repayment obligation set
forth in the immediately preceding sentence shall cease immediately upon a Change of Control (as defined on <U>Annex A</U>) that occurs while Employee is employed by the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <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 2016 fiscal year with a target as set forth on <U>Exhibit A</U> (the &#147;<U>Target Bonus</U>&#148;), based upon Employee&#146;s achievement of
performance goals as determined by the Compensation Committee. 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 bonus or Annual Bonus (net of any
taxes paid by Employee on such payments) previously paid to Employee, or cancel any earned but unpaid cash bonus or 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. In addition, the Employee&#146;s Annual Bonus shall be subject to any other claw back or recoupment policy of the
Company as may be in effect from time to time or any claw back or recoupment as may be required by applicable law. </P>

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 <P STYLE="margin-top:0pt; 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 Reporting Person, 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:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">4. <U>Equity Awards.</U> On or as promptly as practicable following the Start Date, subject to approval by
the Compensation Committee, Employee shall receive long-term compensation awards on the terms and conditions set forth on <U>Exhibit B</U>. With respect to any Equity Compensation granted to Employee under the Prior Agreement (as defined on
<U>Exhibit A</U>), the Sections of the Prior Agreement set forth on <U>Exhibit A</U> shall survive in their entirety. In addition, any Performance Based Restricted Stock Units granted to Employee on March&nbsp;14, 2014 and February&nbsp;27, 2015
(the &#147;<U>PBRSUs</U>&#148;) shall be amended as follows: (i)&nbsp;Section&nbsp;3(d)(iii) of PBRSU Agreement shall be amended to read in its entirety, &#147;(iii) if your employment is terminated by the Company without Cause or you resign for
Good Reason prior to April&nbsp;2, 2018, subject to the achievement of the Performance Goal as determined in accordance with Section&nbsp;3(b), you will be vested in a total 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 March&nbsp;14, 2014 through the date of termination of your employment and the denominator of which is the number of days from March&nbsp;14, 2014
through April&nbsp;2, 2018.&#148; and (ii)&nbsp;Exhibit A of the RBRSU Agreement shall be amended to read in its entirety: </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>&#147;Exhibit A </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Performance Goal </U></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="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 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 $32.50 for twenty consecutive
trading days during the Performance Evaluation Period and (ii)&nbsp;Adjusted Earnings Per Share of at least $2.75 is achieved for 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="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt">&#147;<U>Adjusted Earnings Per Share</U>&#148; shall mean (i)&nbsp;net income available to common shareholders, including preferred interest holders
(adjusted for non-recurring items as applied to Adjusted EBITDA in monthly operating reports and external reporting and </P></TD></TR></TABLE>

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<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="font-family:Times New Roman; font-size:10pt">
the impact of stock and phantom stock compensation<B>)</B>, plus tax effected depreciation and amortization less tax effected capital expenditures divided by (ii)&nbsp;diluted shares outstanding.
</P></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">&#147;<U>Performance Evaluation Period</U>&#148; shall mean the period commencing on January&nbsp;1, 2016 and ending on April&nbsp;2, 2018.&#148; </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">5. <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 of this Agreement on the Expiration Date, unless otherwise agreed by the parties in writing, in which case employment hereunder 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;<U>Cause</U>&#148; shall mean Employee&#146;s (i)&nbsp;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, including, without limitation, by virtue of failing to provide at least 30 days&#146;
advanced written notice of resignation as required by Section&nbsp;5(f), or any agreement governing any of the long-term incentive compensation or equity compensation awards granted to Employee by the Company, its affiliates or any of their
respective predecessors (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; (vii)&nbsp;failure to follow the Company&#146;s code of conduct or ethics
policy; and (viii)&nbsp;conviction of, or plea of nolo contendere to, a felony or any serious crime; provided that, the Company will provide Employee with written notice describing the facts and circumstances that the Company believes constitutes
Cause and, 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 Reporting Person that Employee&#146;s employment could have been terminated by the Company for Cause pursuant to this Section&nbsp;5(c), Employee&#146;s employment shall, at the election of the Reporting Person at any time up to two
years after Employee&#146;s termination of employment but in no event more than six months after the Reporting Person learns of the facts or events that could give rise to the termination for Cause, be deemed to have been terminated for Cause
retroactively to the date the events giving rise to Cause occurred, provided that the Company&#146;s ability to deem an Employee&#146;s employment under this sentence to be terminated for Cause shall lapse upon a Change of Control. </P>

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 <P STYLE="margin-top:0pt; 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> Upon or during the two year period following a Change of Control), Employee
may terminate his employment hereunder for Good Reason in accordance with the terms of this Section&nbsp;5(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 Company materially diminishes Employee&#146;s title, duties, authorities, reporting relationship(s), responsibilities or position from any of those in effect
immediately preceding the Change of Control (including by virtue of Employee not having duties of a senior executive of a publicly-traded company) or as subsequently increased or enhanced; (iii)&nbsp;the Company reduces the Base Salary or Target
Bonus; (iv)&nbsp;the Company requires that Employee be based in a location that is more than 50 miles from the location of Employee&#146;s employment immediately prior to a Change of Control; or (v)&nbsp;Employee not reporting directly and
exclusively to the [board of directors of a publicly-traded company]<SUP STYLE="font-size:85%; vertical-align:top">1</SUP> [chief executive officer of a publicly-traded company]<SUP STYLE="font-size:85%; vertical-align:top">2</SUP>; <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 event, circumstance or conduct of the Company that constitutes
Good Reason, to cease, and to cure, any event, circumstance or conduct specified in such written notice, if curable; <U>provided</U> <U>further</U>, that such notice shall be provided to the Company within 45 days of the occurrence of the event,
circumstance or conduct constituting Good Reason. If, at the end of the Cure Period, the event, circumstance or conduct 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, circumstance or conduct.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) <U>Resignation.</U> Employee may 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 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="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&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"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">For Bradley S. Jacobs. </TD></TR></TABLE>
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<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">2</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">For all others. </TD></TR></TABLE>

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 <P STYLE="margin-top:0pt; 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;5(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;5(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;5(c) or 5(d) of this
Agreement; (iv)&nbsp;the 30<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> day following delivery of Employee&#146;s notice to the Company of his resignation in accordance with Section&nbsp;5(e) (or such earlier date as selected by the
Company); (v)&nbsp;the date specified in accordance with Section&nbsp;5(f) in the event of Employee&#146;s resignation for Good Reason upon or during the two years following a Change of Control; and (vi)&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;5(g) of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">6. <U>Termination Payments.</U> (a)&nbsp;<U>General.</U> Except as otherwise set forth in this Section&nbsp;6, 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;3 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;3(f) of this Agreement accrued or incurred through the Date of Termination (collectively items 6(a)(i) through 6(a)(iii) above, the &#147;<U>Accrued
Benefits</U>&#148;). The payments referred to in Sections 6(a)(i) and (ii)&nbsp;of this Agreement shall be paid within 30 days following the Date of Termination. The payments referred to in Section&nbsp;6(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. The payments and benefits to be provided to Employee under Sections 6(c) and 6(d) of this Agreement, if any, shall in all events be subject to the
satisfaction of the conditions of Section&nbsp;6(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, Resignation, Cause, or
Disability.</U> If Employee&#146;s employment is terminated pursuant to Section&nbsp;5(a), 5(c), 5(f) or 5(g) of this Agreement (excluding, for the avoidance of doubt, a resignation for Good Reason upon or within two years following a Change of
Control as described in Section&nbsp;6(d)), 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, Without Cause.</U> In the event of a termination by reason of Employee&#146;s death or in the event that, either prior to a
Change of Control or more than two years following a Change of Control, the Company terminates Employee&#146;s employment hereunder without Cause, Employee (or his estate) shall be entitled to: </P>
<P STYLE="margin-top:6pt; 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)
solely in the case of a termination by the Company without Cause, a cash payment (the &#147;<U>Severance Payment</U>&#148;) equal to six months&#146; Base Salary, as in effect on the Date </P>

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of Termination (payable as set forth in Section&nbsp;6(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 six 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;6(c)(ii) and (y)&nbsp;if Employee secures other employment, any medical or dental benefits provided under this Section&nbsp;6(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) vesting of equity based or other long term incentive compensation awards solely to the extent set forth in the applicable award
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, upon or within two years
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; </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>CIC Severance Payment</U>&#148;) equal to two times the sum of (A)&nbsp;the Base Salary and (B)&nbsp;the Target Bonus; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii) a cash payment equal to the product of (A)&nbsp;the Target Bonus and (B)&nbsp;a fraction, the numerator of which is the number of days
from January&nbsp;1 in the year in which the Date of Termination occurs through the Date of Termination and the denominator of which is 365; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iv) a cash payment equal to the amount of 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 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(v) medical and dental coverage for a period of 24 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&nbsp;6(c)
and 6(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 60 days after the
Date of Termination (or such greater period as required by law), a 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&nbsp;7 and 8 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,
</P>

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Employee has materially breached his obligations under Section&nbsp;7 or 8 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 6-month period, following the Date of Termination, consistent with the
Company&#146;s payroll practices, with the first installment to be paid within 65 days after the Date of Termination 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 65 days after the Date of Termination; <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 7 and 8 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, (x)&nbsp;terminate or cancel any Equity Compensation that are unvested
or vested and unexercised, (y)&nbsp;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 Equity Compensation the vesting of which was accelerated upon
termination of Employee&#146;s employment for any reason and (z)&nbsp;require Employee to forfeit or remit to the Company any shares (or the equivalent value in cash) that were issued to Employee (or cash that was paid to Employee) upon vesting,
settlement or exercise, as applicable, of any Equity Compensation; <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. In addition, the
Employee&#146;s Equity Compensation shall be subject to any other claw back or recoupment policy of the Company as may be in effect from time to time or any claw back or recoupment as may be required by applicable law </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) <U>Section&nbsp;280G.</U> In the event that any payments, distributions, benefits or entitlements of any type payable to Employee
(&#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 Employee&#146;s 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 </P>

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advice of a nationally recognized accounting firm selected by the Company prior to a Change of Control (the &#147;<U>Accountants</U>&#148;), that without such reduction Employee 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 Employee would be entitled to
retain upon receipt of the Reduced Amount. Unless the Company and Employee otherwise agree in writing, any determination required under this Section&nbsp;6(g) shall be made in writing in good faith by the Accountants. 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 in cash under Section&nbsp;6(d)(ii) and 6(d)(iii) and then by reducing or eliminating any amounts that are payable with
respect to long-term incentives including any equity-based or equity-related awards (whether payable in cash or in kind). For purposes of making the calculations required by this Section&nbsp;6(g), the Accountants 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 Employee shall furnish to the Accountants such
information and documents as the Accountants may reasonably require in order to make a determination under this Section&nbsp;6(g), and the Company shall bear the cost of all fees the Accountants charge in connection with any calculations
contemplated by this Section&nbsp;6(g). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">7. <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, employ 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, employment or engagement. &#147;<U>Restricted Period</U>&#148; means three years following termination of Employee&#146;s employment for any reason and, for the
avoidance of doubt, regardless of whether such termination is before, upon or after expiration of the Term. </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 and about which business relationship Employee was aware (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 those offered by the Company Entities from any 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">8. <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), whether or not that information rises to the level of a protectable trade secret, including, </P>

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without limitation: any information, observations and data concerning the business or affairs or operation of the Company Entities developed or learned 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 and
related customer information; 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 of the Company Entities; contracts and supplier lists and any information
relating to financial data, strategic business plans; information about any third parties with 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 or obtained by Employee in the course of his work for a Company Entity that contain or reflect any such information and, in each case, which is not known to the public generally other than as a result of
Employee&#146;s breach of this Agreement. 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. Nothing in this Agreement shall prohibit or restrict any person from (1)&nbsp;testifying
truthfully to the extent required by applicable law or legal process, (2)&nbsp;communicating with any governmental, administrative or regulatory agency or authority, including, but not limited to, the U.S. Securities and Exchange Commission, the
U.S. Consumer Financial Protection Bureau, the U.S. Department of Justice, the U.S. Equal Employment Opportunity Commission and the U.S. National Labor Relations Board, (3)&nbsp;disclosing information in confidence to an attorney for the purpose of
obtaining legal advice so long as such attorney agrees not to use or disclose such information, (4)&nbsp;disclosing information with the prior written consent of the Board so long as such consent specifically references this provision and/or
(5)&nbsp;disclosing information that is publicly known other than by reason of Employee&#146;s violation of this Section&nbsp;8(a). In the event Employee or his legal representative is requested or required to disclose any Confidential Information,
Employee shall provide the Company with prompt notice of such request or requirement so that the Company may seek an appropriate protective order (in which Employee will cooperate). If the Company fails to obtain a protective order or provides a
waiver hereunder, and Employee is, in the opinion of counsel, compelled to disclose Confidential Information, Employee may disclose only that portion of the Confidential Information that Employee&#146;s counsel advises is reasonably required by law
to disclose. </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, Employee agrees that, prior to the date on which the Company
publicly files this Agreement with the Securities and Exchange Commission, Employee shall not disclose the terms of this </P>

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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 agrees that he will not, during the Term and during the Non-Compete Period, within the Restricted Area,
directly or indirectly (whether or not for compensation) 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. Nor shall the Employee, during the Term and during the Non-Compete Period, within the Restricted Area, otherwise compete with, or perform services relating
to the business of, any of the Company Entities for any business other than a Company Entity, in any business in which the Company Entities participate, or businesses they are actively considering, at the time of termination of Employee&#146;s
employment or during the one year prior to such termination (the &#147;<U>Business</U>&#148;). 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 transportation or logistics services, including
asset-based, asset-light or non-asset, supply chain services, including only by way of illustration, freight brokerage or freight transportation, freight management, freight forwarding, expediting, internet load boards, last-mile delivery logistics,
contract logistics or intermodal providers, or firms such as CH Robinson, Expeditors International of Washington, Inc., Echo Global Logistics Inc., Total Quality Logistics, TransCore, DHL, FedEx Corporation, United Parcel Service, Inc., J.B. Hunt
Transport Services, Inc., K&uuml;hne + Nagel International AG, syncreon, Neovia Logistics 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. For the avoidance of doubt, it shall be a violation of this Section&nbsp;8(b) for Employee to provide any services whatsoever to any private equity firm, hedge fund or
similar firm or fund that invests in a company engaged in any Competitive Business or any investment bank or similar firm that advises companies engaged in any Competitive Business in the Restricted Area during the Term or the Restricted Period.
&#147;<U>Restricted Area</U>&#148; means Canada, Mexico, France, United Kingdom, Netherlands, Spain, Italy, and any State of the United States and any other country in which the Company or any Company Entity does business or any other country in
which any Company client is located during the Term or the Restricted Period. &#147;<U>Non-Compete Period</U>&#148; shall mean, subject to Section&nbsp;8(c) below, two years following termination of Employee&#146;s employment for any reason and, for
the avoidance of doubt, regardless of whether such termination is before, upon or after expiration of the Term. </P>

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 <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> The Company shall have the right to extend the Non-Compete
Period for up to an additional 12-month period (the &#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, it will notify Employee in writing of such
fact not later than the 90th day prior to the expiration of the Non-Compete Period. 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 the Extended Non-Compete Period, Employee shall be bound by the restrictions set forth in Section&nbsp;8(b) in the same manner applicable during the Non-Compete Period, and the Company agrees to pay Employee subject to
Section&nbsp;6(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, 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;8(c). Payments made by the Company under this
Section&nbsp;8(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. Notwithstanding any provision of this Agreement to the contrary, the right of the
Company to extend the Non-Compete Period hereunder and any related payment of Base Salary for the Extended Non-Compete Period hereunder shall lapse upon a Change of Control. </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 their respective
officers, directors, members, partners or employees (collectively, the &#147;<U>Company Parties</U>&#148;), and to cooperate with the Company upon </P>

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reasonable 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">9. <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;7, 8(b) or 8(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">10. <U>Injunctive Relief.</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 the Company would likely suffer significant harm to its protectable confidential information and business goodwill from Employee&#146;s breach of
any of the covenants set forth in Sections 7 and 8. 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&nbsp;7 and 8 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
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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 7 and 8 of this Agreement or to seek any other relief to which it may be entitled. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">11. <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:12pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">If to the Company, to each of: </P>
<P STYLE="margin-top:12pt; 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:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Attention: Chief Legal Officer </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">with a copy to: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Jeremy L.
Goldstein&nbsp;&amp; Associates, LLC </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">119 Old Church Road </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Greenwich, CT 06830 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Attention:
Jeremy L. Goldstein, Esq. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">If to Employee: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">During 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 other. </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 including without limitation the Prior Agreement.
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>

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 <P STYLE="margin-top:0pt; 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 11(l)(iv) and 11(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:12pt; 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>Clawbacks</U>.
Employee hereby acknowledges and agrees that, notwithstanding any provision of this Agreement to the contrary, Employee will be subject to any legally mandated policy relating to the recovery of compensation, solely to the extent that the Company is
required to implement such policy pursuant to applicable law, whether pursuant to the Sarbanes-Oxley Act of 2002, the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 or otherwise. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) <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 S. Jacobs other than with respect to the Company; (y)&nbsp;restrict or
prohibit the Company, Bradley 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 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
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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 7 and 8 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 Section&nbsp;7 or 8 of this Agreement.
Employee further acknowledges that although Employee&#146;s compliance with the covenants contained in Sections 7 and 8 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">(g) <U>Survival.</U> Employee&#146;s obligations
under Sections 7 and 8 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 6, 7, 8, 9, 10 and 11 of this Agreement shall survive the Term and termination of Employee&#146;s employment. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h)
<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;11(h) shall be void. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) <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, non-reviewable, non-appealable determination that any provision
of Section&nbsp;7 or 8 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 </P>

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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">(j) <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">(k) <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">(l) <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 Delaware 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 State of Delaware 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:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii) Except the extent that the Company seeks
injunctive relief pursuant to Section&nbsp;10 of this Agreement, 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;11(l)(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 State of Delaware; <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;11(l) 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;11(l)(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;11(l)(iv)&nbsp;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
</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
THIS AGREEMENT OR THE BREACH THEROF, 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">(m)
<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 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. To the
extent required in order to avoid accelerated taxation and/or tax penalties under Section&nbsp;409A, Employee shall not be considered to have terminated employment with the Company for purposes of this Agreement and no payment shall be due to
Employee under this Agreement until Employee would be considered to have incurred a &#147;separation from service&#148; from the Company within the meaning of Section&nbsp;409A. </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='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; 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">(n)
<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">(o) <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">(p) <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:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(q) <U>Lock-Up</U>. Notwithstanding anything to the contrary in this Agreement, or any plan
or award agreement under which any Equity Compensation has been or is granted to Employee, any shares of the Company&#146;s common stock issued to Employee upon settlement or exercise, as applicable, of any Equity Compensation (whether before, on or
after the date hereof) 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, 2018 (or, if earlier, upon Employee&#146;s death or a Change of Control); provided, however, if determined by the Board in its sole discretion, the provisions of this Section&nbsp;11(q) 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 stock options or to satisfy the applicable tax withholding in connection with the exercise or settlement, as applicable, of any Equity
Compensation. </P>

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 <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" WIDTH="1%"></TD>
<TD WIDTH="90%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">XPO LOGISTICS, INC.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&nbsp;&nbsp;&nbsp;&nbsp;by</TD>
<TD VALIGN="bottom">&nbsp;</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">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">[Name: Gordon Devens</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Title: Chief Legal
Officer]<SUP STYLE="font-size:85%; vertical-align:top">3</SUP></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">[Name: Bradley S. Jacobs</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Title: &nbsp;&nbsp;Chief Executive Officer]<SUP STYLE="font-size:85%; vertical-align:top">4</SUP></TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="center">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center">EXECUTIVE</TD></TR>
</TABLE></DIV> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&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"><SUP STYLE="font-size:85%; vertical-align:top">3</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">For Bradley S. Jacobs. </TD></TR></TABLE>
<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"><SUP STYLE="font-size:85%; vertical-align:top">4</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">For all others. </TD></TR></TABLE>

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<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ANNEX A </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;<U>Change of Control</U>&#148; means: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(i) during any
period, individuals who were directors of the Company on the first day of such period (the &#147;<U>Incumbent Directors</U>&#148;) cease for any reason to constitute a majority of the Board; <U>provided</U>, <U>however</U>, that any individual
becoming a director subsequent to the first day of such period whose election, or nomination by the Board for election by the Company&#146;s stockholders, was approved by a vote of at least a majority of the Incumbent Directors shall be considered
as though such individual were an Incumbent Director, but excluding for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of
directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board (including without limitation any settlement thereof); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(ii) the consummation of (A)&nbsp;a merger, consolidation, statutory share exchange or similar form of corporate transaction involving the Company (each of
the events referred to in this clause (A)&nbsp;being hereinafter referred to as a &#147;<U>Reorganization</U>&#148;) or (B)&nbsp;the sale or other disposition of all or substantially all of the assets of the Company to an entity that is not an
Affiliate (a &#147;<U>Sale</U>&#148;), in each case, if such Reorganization or Sale requires the approval of the Company&#146;s stockholders under the law of the Company&#146;s jurisdiction of organization (whether such approval is required for such
Reorganization or Sale or for the issuance of securities of the Company in such Reorganization or Sale), unless, immediately following such Reorganization or Sale, (1)&nbsp;individuals and entities who were the &#147;beneficial owners&#148; (as such
term is defined in Rule 13d-3 under the Exchange Act (or a successor rule thereto)) of the securities eligible to vote for the election of the Board (&#147;<U>Company Voting Securities</U>&#148;) outstanding immediately prior to the consummation of
such Reorganization or Sale continue to beneficially own, directly or indirectly, more than 50% of the combined voting power of the then outstanding voting securities of the corporation or other entity resulting from such Reorganization or Sale
(including a corporation that, as a result of such transaction, owns the Company or all or substantially all of the Company&#146;s assets either directly or through one or more subsidiaries) (the &#147;<U>Continuing Company</U>&#148;) in
substantially the same proportion as the voting power of such Company Voting Securities among the holders thereof immediately prior to the Reorganization or Sale (excluding, for such purposes, any outstanding voting securities of the Continuing
Company that such beneficial owners hold immediately following the consummation of the Reorganization or Sale as a result of their ownership prior to such consummation of voting securities of any corporation or other entity involved in or forming
part of such Reorganization or Sale other than the Company), (2)&nbsp;no &#147;person&#148; (as such term is used in Section&nbsp;13(d) of the Exchange Act) (each, a &#147;<U>Person</U>&#148;) (excluding (x)&nbsp;any employee benefit plan (or
related trust) sponsored or maintained by the Continuing Company or any corporation controlled by the Continuing Company and (y)&nbsp;any one or more Specified Stockholders) beneficially owns, directly or indirectly, 30% or more of the combined
voting power of the then outstanding voting securities of the Continuing Company and (3)&nbsp;at least 50% of the members of the board of directors of the Continuing Company (or equivalent body) were Incumbent Directors at the time of the execution
of the definitive agreement providing for such Reorganization or Sale or, in the absence of such an agreement, at the time at which approval of the Board was obtained for such Reorganization or Sale; </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(iii) the stockholders of the Company approve a plan of complete liquidation or dissolution of the Company unless
such liquidation or dissolution is part of a transaction or series of transactions described in paragraph (ii)&nbsp;above that does not otherwise constitute a Change of Control; or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(iv) any Person, corporation or other entity or &#147;group&#148; (as used in Section&nbsp;14(d)(2) of the Exchange Act) (other than (A)&nbsp;the Company,
(B)&nbsp;any trustee or other fiduciary holding securities under an employee benefit plan of the Company or an Affiliate, (C)&nbsp;any company owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as
their ownership of the voting power of the Company Voting Securities or (D)&nbsp;any one or more Specified Stockholders, including any group in which a Specified Stockholder is a member) becomes the beneficial owner, directly or indirectly, of
securities of the Company representing 30% or more of the combined voting power of the Company Voting Securities; <U>provided</U>, <U>however</U>, that for purposes of this subparagraph (iv), the following acquisitions shall not constitute a Change
of Control: (w)&nbsp;any acquisition directly from the Company, (x)&nbsp;any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or an Affiliate, (y)&nbsp;any acquisition by an underwriter temporarily
holding such Company Voting Securities pursuant to an offering of such securities or any acquisition by a pledgee of Company Voting Securities holding such securities as collateral or temporarily holding such securities upon foreclosure of the
underlying obligation or (z)&nbsp;any acquisition pursuant to a Reorganization or Sale that does not constitute a Change of Control for purposes of subparagraph (ii)&nbsp;above of this definition. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Any capitalized terms used but not defined in this definition shall have the meaning set forth in the Company&#146;s Amended and Restated 2011 Omnibus
Incentive Compensation Plan. </P>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>d139871dex102.htm
<DESCRIPTION>EX-10.2
<TEXT>
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<TITLE>EX-10.2</TITLE>
</HEAD>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT A </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">BRADLEY S. JACOBS </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 WIDTH="22%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="76%"></TD></TR>


<TR STYLE="font-size:1pt">
<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> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Start Date:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">February&nbsp;9, 2016</TD></TR>
<TR STYLE="font-size:1pt">
<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> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Employee:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Bradley S. Jacobs</TD></TR>
<TR STYLE="font-size:1pt">
<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> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Position:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Chief Executive Officer of the Company and Chairman and a member of the Board of Directors of the Company</TD></TR>
<TR STYLE="font-size:1pt">
<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> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Reporting Person:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Board of Directors of the Company</TD></TR>
<TR STYLE="font-size:1pt">
<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> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Base Salary:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">$625,000</TD></TR>
<TR STYLE="font-size:1pt">
<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> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2015 Bonus:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">$925,000</TD></TR>
<TR STYLE="font-size:1pt">
<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> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2015 Additional Bonus:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">$1,400,000</TD></TR>
<TR STYLE="font-size:1pt">
<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> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Target Bonus:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">100% of Base Salary</TD></TR>
<TR STYLE="font-size:1pt">
<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> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Prior Agreement:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Employment Agreement dated as of November 21, 2011 and effective as of September 2, 2011, by and between the Company and Employee</TD></TR>
<TR STYLE="font-size:1pt">
<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> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sections of Prior Agreement<BR>that survive with respect to<BR>Equity Compensation<BR>granted under the Prior</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Agreement:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Section 3(c) and Section 3(d)</TD></TR>
</TABLE>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>d139871dex103.htm
<DESCRIPTION>EX-10.3
<TEXT>
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<TITLE>EX-10.3</TITLE>
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 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.3 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT A </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">TROY A. COOPER </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 WIDTH="22%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="76%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Start Date:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">February&nbsp;9, 2016</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Employee:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Troy A. Cooper</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Position:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Chief Operating Officer of the Company</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Reporting&nbsp;Person:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Chief Executive Officer of the Company</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Base&nbsp;Salary:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$537,500</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">2015 Bonus:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$750,000</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">2015&nbsp;Additional&nbsp;Bonus:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$1,100,000</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Target Bonus:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">100% of Base Salary</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Prior&nbsp;Agreement:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Employment Agreement effective as of March 14, 2014, by and between the Company and Employee</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Sections&nbsp;of&nbsp;Prior&nbsp;Agreement that survive with respect to Equity Compensation<BR>granted under the Prior Agreement:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Section 3(c)</TD></TR>
</TABLE>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>d139871dex104.htm
<DESCRIPTION>EX-10.4
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.4</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.4 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT A </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">JOHN J. HARDIG </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 WIDTH="22%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="76%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Start Date:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">February&nbsp;9, 2016</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Employee:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">John J. Hardig</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Position:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Chief Financial Officer of the Company</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Reporting&nbsp;Person:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Chief Executive Officer of the Company</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Base Salary:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$515,000</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">2015 Bonus:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$650,000</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">2015 Additional Bonus:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$1,000,000</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Target Bonus:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">100% of Base Salary</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Prior Agreement:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Employment Agreement effective as of February 3, 2012, by and between the Company and Employee</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Sections of Prior Agreement<BR>that survive with respect to<BR>Equity Compensation<BR>granted under the Prior<BR>Agreement:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Section 3(c) and Section 3(d)</TD></TR>
</TABLE>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>6
<FILENAME>d139871dex105.htm
<DESCRIPTION>EX-10.5
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.5</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.5 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT A </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">GORDON E. DEVENS </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 WIDTH="22%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="76%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Start Date:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">February&nbsp;9, 2016</TD></TR>
<TR STYLE="font-size:1pt">
<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>Employee:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Gordon E. Devens</TD></TR>
<TR STYLE="font-size:1pt">
<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>Position:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Chief Legal Officer of the Company</TD></TR>
<TR STYLE="font-size:1pt">
<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>Reporting Person:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Chief Executive Officer of the Company</TD></TR>
<TR STYLE="font-size:1pt">
<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>Base Salary:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">$500,000</TD></TR>
<TR STYLE="font-size:1pt">
<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>2015 Bonus:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">$650,000</TD></TR>
<TR STYLE="font-size:1pt">
<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>2015 Additional Bonus:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">$1,000,000</TD></TR>
<TR STYLE="font-size:1pt">
<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>Target Bonus:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">100% of Base Salary</TD></TR>
<TR STYLE="font-size:1pt">
<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>Prior Agreement:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Employment Agreement effective as of March 14, 2014, by and between the Company and Employee</TD></TR>
<TR STYLE="font-size:1pt">
<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>Sections of Prior Agreement<BR>that survive with respect to<BR>Equity Compensation<BR>granted under the Prior<BR>Agreement:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Section 3(c) and Section 3(d)</TD></TR>
</TABLE>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.6
<SEQUENCE>7
<FILENAME>d139871dex106.htm
<DESCRIPTION>EX-10.6
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.6</TITLE>
</HEAD>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.6 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT A </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SCOTT B. MALAT </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 WIDTH="22%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="76%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Start Date:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">February&nbsp;9, 2016</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Employee:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Scott B. Malat</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Position:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Chief Strategy Officer of the Company</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Reporting Person:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Chief Executive Officer of the Company</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Base Salary:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$500,000</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">2015 Bonus:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$650,000</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">2015 Additional Bonus:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$1,000,000</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Target Bonus:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">100% of Base Salary</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Prior Agreement:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Employment Agreement effective as of September 20, 2011, by and between the Company and Employee</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Sections of Prior Agreement<BR>that survive with respect to<BR>Equity Compensation<BR>granted under the Prior<BR>Agreement:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Section 3(c) and Section 3(d)</TD></TR>
</TABLE>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.7
<SEQUENCE>8
<FILENAME>d139871dex107.htm
<DESCRIPTION>EX-10.7
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.7</TITLE>
</HEAD>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.7 </B></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 February&nbsp;9, 2016 (the &#147;<U>Grant Date</U>&#148;) between XPO LOGISTICS, INC., a Delaware corporation (the &#147;<U>Company</U>&#148;), and the individual set forth on <U>Exhibit A</U>. </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
an award of performance-based restricted stock units with respect to a number of shares of the Company&#146;s Common Stock, $0.001 par value (&#147;<U>Share</U>&#148;) set forth on <U>Exhibit A</U> (this &#147;<U>Award</U>&#148;), that is 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, an amount in 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,
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:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Cause</U>&#148; means your (i)&nbsp;gross negligence or willful failure to perform your duties hereunder or willful refusal to follow
any lawful directive of the Chief Executive Officer of the Company or the Board of Directors of the Company; (ii)&nbsp;abuse of or dependency on alcohol or drugs (illicit or otherwise) that adversely affects your 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 any Employment Agreement to which you may be party or any agreement
governing long-term incentive compensation or equity compensation to which you may be </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
party or breach of your fiduciary duties to the Company; (v)&nbsp;failure to provide the Company with at least 30 days&#146; advanced written notice of your intention to resign; (vi)&nbsp;any
willful act, or failure to act, in bad faith to the detriment of the Company; (vii)&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 your cooperation; (viii)&nbsp;failure to follow the Company&#146;s code of conduct or ethics policy; and (ix)&nbsp;conviction of, or plea of nolo contendere to, a felony or any serious crime; provided that, the
Company will provide you with written notice describing the facts and circumstances that the Company believes constitutes Cause and, in cases where cure is possible, you shall first be provided a 15-day cure period. If, subsequent to your
termination of employment for any reason other than by the Company for Cause, it is determined in good faith by the Chief Executive Officer of the Company that your employment could have been terminated by the Company for Cause, your employment
shall, at the election of the Chief Executive Officer of the Company at any time up to two years after your termination of employment but in no event more than six months after the Chief Executive Officer of the Company learns of the facts or events
that could give rise to the termination for Cause, be deemed to have been terminated for Cause retroactively to the date the events giving rise to Cause occurred. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Change of Control</U>&#148; means: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) during any period, individuals who were directors of the Company on the first day of such period (the &#147;<U>Incumbent
Directors</U>&#148;) cease for any reason to constitute a majority of the Board; <U>provided</U>, <U>however</U>, that any individual becoming a director subsequent to the first day of such period whose election, or nomination by the Board for
election by the Company&#146;s stockholders, was approved by a vote of at least a majority of the Incumbent Directors shall be considered as though such individual were an Incumbent Director, but excluding for this purpose, any such individual whose
initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than
the Board (including without limitation any settlement thereof); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the consummation of (A)&nbsp;a merger,
consolidation, statutory share exchange or similar form of corporate transaction involving the Company (each of the events referred to in this clause (A)&nbsp;being hereinafter referred to as a &#147;<U>Reorganization</U>&#148;) or (B)&nbsp;the sale
or other disposition of all or substantially all of the assets of the Company to an entity that is not an Affiliate (a &#147;<U>Sale</U>&#148;), in each case, if such Reorganization or Sale requires the approval of the Company&#146;s stockholders
under the law of the Company&#146;s jurisdiction of organization (whether such approval is required for such Reorganization or Sale or for the issuance of securities of the Company in such Reorganization or Sale), unless, immediately following such
Reorganization or Sale, (1)&nbsp;individuals and entities who were the &#147;beneficial owners&#148; (as such term is defined in Rule 13d-3 under the Exchange Act (or a successor rule thereto)) of the securities eligible to vote for the election of
the Board (&#147;<U>Company Voting Securities</U>&#148;) outstanding immediately prior to 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">2 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
consummation of such Reorganization or Sale continue to beneficially own, directly or indirectly, more than 50% of the combined voting power of the then outstanding voting securities of the
corporation or other entity resulting from such Reorganization or Sale (including a corporation that, as a result of such transaction, owns the Company or all or substantially all of the Company&#146;s assets either directly or through one or more
subsidiaries) (the &#147;<U>Continuing Company</U>&#148;) in substantially the same proportion as the voting power of such Company Voting Securities among the holders thereof immediately prior to the Reorganization or Sale (excluding, for such
purposes, any outstanding voting securities of the Continuing Company that such beneficial owners hold immediately following the consummation of the Reorganization or Sale as a result of their ownership prior to such consummation of voting
securities of any corporation or other entity involved in or forming part of such Reorganization or Sale other than the Company), (2)&nbsp;no &#147;person&#148; (as such term is used in Section&nbsp;13(d) of the Exchange Act) (each, a
&#147;<U>Person</U>&#148;) (excluding (x)&nbsp;any employee benefit plan (or related trust) sponsored or maintained by the Continuing Company or any corporation controlled by the Continuing Company and (y)&nbsp;any one or more Specified
Stockholders) beneficially owns, directly or indirectly, 30% or more of the combined voting power of the then outstanding voting securities of the Continuing Company and (3)&nbsp;at least 50% of the members of the board of directors of the
Continuing Company (or equivalent body) were Incumbent Directors at the time of the execution of the definitive agreement providing for such Reorganization or Sale or, in the absence of such an agreement, at the time at which approval of the Board
was obtained for such Reorganization or Sale; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) the stockholders of the Company approve a plan of complete liquidation
or dissolution of the Company unless such liquidation or dissolution is part of a transaction or series of transactions described in paragraph (ii)&nbsp;above that does not otherwise constitute a Change of Control; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) any Person, corporation or other entity or &#147;group&#148; (as used in Section&nbsp;14(d)(2) of the Exchange Act) (other
than (A)&nbsp;the Company, (B)&nbsp;any trustee or other fiduciary holding securities under an employee benefit plan of the Company or an Affiliate, (C)&nbsp;any company owned, directly or indirectly, by the stockholders of the Company in
substantially the same proportions as their ownership of the voting power of the Company Voting Securities or (D)&nbsp;any one or more Specified Stockholders, including any group in which a Specified Stockholder is a member) becomes the beneficial
owner, directly or indirectly, of securities of the Company representing 30% or more of the combined voting power of the Company Voting Securities; <U>provided</U>, <U>however</U>, that for purposes of this subparagraph (iv), the following
acquisitions shall not constitute a Change of Control: (w)&nbsp;any acquisition directly from the Company, (x)&nbsp;any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or an Affiliate, (y)&nbsp;any
acquisition by an underwriter temporarily holding such Company Voting Securities pursuant to an offering of such securities or any acquisition by a pledgee of Company Voting Securities holding such securities as
</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>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
collateral or temporarily holding such securities upon foreclosure of the underlying obligation or (z)&nbsp;any acquisition pursuant to a Reorganization or Sale that does not constitute a Change
of Control for purposes of subparagraph (ii)&nbsp;above of this definition. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; 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:4%; 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:4%; 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 generally determines whether the RSUs subject to this Award Agreement shall be earned. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Section 162(m) Goal</U>&#148; means
the goal identified as the Section&nbsp;162(m) goal and set forth on <U>Exhibit A</U> attached hereto, the achievement of which generally determines whether the RSUs subject to this Award Agreement shall be eligible to be earned. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; 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:4%; 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 date of your termination of employment due to death; (ii)&nbsp;a Change of Control, or (iii)&nbsp;with respect to each tranche of RSUs, the applicable anniversary of the first four anniversaries of the Grant Date; provided that, in the
event that the Settlement Date occurs by reason of this clause (iii), in no event shall the Settlement Date be later than March&nbsp;15 of the year following the year for which the Performance Goal was measured. </P>
<P STYLE="margin-top:18pt; 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 each
applicable anniversary of the Grant Date, the achievement of the Section&nbsp;162(m) Goal and the applicable Performance Goal, you shall vest in the RSUs subject to this Award Agreement twenty five percent (25%)&nbsp;on each of the first four
anniversaries of the Grant Date. Each 25 percent of the RSUs for which the service requirement under this Section&nbsp;3(a) would be satisfied upon each applicable anniversary of the Grant Date shall be considered a &#147;tranche&#148; of RSUs for
purposes of 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>Section&nbsp;162(m) Goal</U>. Except as otherwise provided in this Award Agreement, no amount
shall be earned and payable with respect to any tranche of the RSUs, unless the Committee has certified that the Section&nbsp;162(m) Goal has been achieved. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Performance-Based Vesting</U>. Except as otherwise provided in this Award Agreement, no amount shall be earned and payable with respect
to a particular tranche of the RSUs unless the Committee has certified that the Performance Goal applicable to such tranche has been achieved. </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>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Termination of Employment</U>. Notwithstanding anything to the contrary in this Award
Agreement or the Plan to the contrary: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) if your employment terminates by reason of your death, all outstanding RSUs
shall be deemed earned, regardless of the achievement of the Performance Goal and the Section&nbsp;162(m) Goal, and shall vest in full immediately; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;if your employment is terminated by the Company for Cause or by reason of your Disability or you resign for any
reason, all unvested RSUs shall be immediately forfeited; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) if your employment terminates for any reason not
described in clauses (i)&nbsp;or (ii), you shall (A)&nbsp;subject to the achievement of the Performance Goal as determined in accordance with Section&nbsp;3(c) for the tranche of RSUs scheduled and eligible to vest immediately following the
termination of employment and the Section&nbsp;162(m) Goal as determined in accordance with Section&nbsp;3(b), vest in a number of RSUs, solely with respect to the tranche of RSUs scheduled and eligible to vest on the anniversary of the Grant Date
immediately following the date of termination, equal to the product of (x)&nbsp;the number of such RSUs scheduled and eligible to vest on the next anniversary of the Grant Date and (y)&nbsp;a fraction, the numerator of which is the number of days
from the anniversary of the Grant Date immediately preceding the date of termination (or, if such termination is after the Grant Date but prior to the first anniversary of the Grant Date, the Grant Date) through the date of termination of your
employment and the denominator of which is 365 and (B)&nbsp;the remainder of the RSUs shall be forfeited. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">By way of
illustration, if your employment is terminated by the Company without Cause on the date that is 18 months after the Grant Date, you shall, subject to the achievement of the Performance Goal as determined in accordance with Section&nbsp;3(c) for the
tranche scheduled and eligible to vest on the second anniversary of the Grant Date and the Section&nbsp;162(m) Goal as determined in accordance with Section&nbsp;3(b), vest in one-half (1/2)&nbsp;of the RSUs that were scheduled and eligible to vest
on the second anniversary of the Grant Date and the remainder of the RSUs shall be forfeited. </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 a Change
of Control that occurs during your employment, all RSUs shall be deemed earned, regardless of the achievement of the Performance Goal and the Section&nbsp;162(m) Goal, and shall vest in full immediately. </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 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 been deemed earned and vested in accordance with the terms of this Award 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">5 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 4. <U>Forfeiture of RSUs.</U> If (a)&nbsp;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 (b)&nbsp;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
the 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. </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 cash pursuant to Section&nbsp;3 of this Award Agreement 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 cash you would be entitled to receive upon settlement of the RSUs, an amount in cash 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">6 </P>


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 <P STYLE="margin-top:0pt; 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, 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">7 </P>


<p Style='page-break-before:always'>
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 <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="22%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="38%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="38%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">If to the Company, to each:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</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:0pt; font-size:10pt; font-family:Times New Roman">Attention: Chief Executive
Officer</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Attention: Chief Legal Officer</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></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">with copies to:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Jeremy L. Goldstein &amp; Associates, LLC</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">119 Old Church Road</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Greenwich, CT 06830</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Attention: Jeremy L. Goldstein, Esq.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></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">If to you:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">To your address as most recently supplied to the Company and set forth in the Company&#146;s records</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></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: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='page-break-before:always'>
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 <P STYLE="margin-top:0pt; 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. 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">(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&nbsp;280G</U>. Notwithstanding anything in this Award Agreement to the contrary and regardless of
whether this Award Agreement has otherwise expired or terminated, unless otherwise provided in your Employment Agreement, 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
</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>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
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 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, 2018 (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: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>


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 <P STYLE="margin-top:0pt; 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">
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<TD VALIGN="top" COLSPAN="5">XPO LOGISTICS, INC.</TD></TR>
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<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">by</TD>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</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">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Name: Gordon Devens</TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Title: Chief Legal Officer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
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<TD VALIGN="top" COLSPAN="5">EXECUTIVE</TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</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">&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">11 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Exhibit A </U></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>
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<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="76%"></TD></TR>


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<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> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Grantee:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<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> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Number of Shares Subject to RSU:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<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> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;162(m) Goal:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-2.00em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Section 162(m) Goal shall be achieved if the Adjusted Cash Flow Per Share for
fiscal year 2016 shall be no less than the Adjusted Cash Flow Per Share for fiscal year 2015.</P></TD></TR>
<TR STYLE="font-size:1pt">
<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> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Performance Goal:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; text-indent:-2.00em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Performance Goal shall be achieved if the
Company meets the following Adjusted Cash Flow Per Share goals with respect to the applicable fiscal year unless the Committee shall determine in its discretion to reduce the applicable Performance Goals based on changes in economic circumstances,
the competitive market or other factors it identifies in its discretion:</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; text-indent:-2.00em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2016: $2.93</P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; text-indent:-2.00em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2017: $3.96</P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; text-indent:-2.00em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2018: $5.38</P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; text-indent:-2.00em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2019 $6.39</P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2.00em; text-indent:-2.00em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Adjusted Cash Flow Per Share</U>&#148; shall mean (i)
Adjusted EBITDA (determined in accordance with the Company&#146;s monthly operating reports and for external reporting purposes and adjusted for the impact of stock and phantom stock compensation) less any capital expenditures and net interest
divided by (ii) diluted shares outstanding.</P></TD></TR>
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