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<SEC-DOCUMENT>0001104659-07-062794.txt : 20070815
<SEC-HEADER>0001104659-07-062794.hdr.sgml : 20070815
<ACCEPTANCE-DATETIME>20070815123259
ACCESSION NUMBER:		0001104659-07-062794
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20070813
ITEM INFORMATION:		Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20070815
DATE AS OF CHANGE:		20070815

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MARTEN TRANSPORT LTD
		CENTRAL INDEX KEY:			0000799167
		STANDARD INDUSTRIAL CLASSIFICATION:	TRUCKING (NO LOCAL) [4213]
		IRS NUMBER:				391140809
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-15010
		FILM NUMBER:		071058793

	BUSINESS ADDRESS:	
		STREET 1:		129 MARTEN ST
		CITY:			MONDOVI
		STATE:			WI
		ZIP:			54755
		BUSINESS PHONE:		7159264216

	MAIL ADDRESS:	
		STREET 1:		3400 PLAZA VII
		STREET 2:		45 SOUTH SEVENTH ST
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55402
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a07-21881_18k.htm
<DESCRIPTION>8-K
<TEXT>
<html>

<head>






</head>

<body lang="EN-US">

<div style="font-family:Times New Roman;">
 <div style="border:none;border-top:double windowtext 6.0pt;padding:0pt 0pt 0pt 0pt;"> <p style="border:none;margin:0pt 0pt .0001pt;padding:0pt;"><a name="scotch"></a><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p> </div>

<p style="font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font face="Times New Roman">&nbsp;</font></p>

<p align="center" style="font-size:10.0pt;margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;text-transform:uppercase;">UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION<br>
</font></b><b><font face="Times New Roman" style="font-weight:bold;">Washington, D.C.&nbsp;
20549</font></b></p>

<div style="line-height:9.0pt;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><hr size="1" width="160" noshade color="black" align="center" style="width:120.0pt;"></div>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;text-transform:uppercase;">FORM 8-K</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;text-transform:uppercase;">CURRENT REPORT</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></b></p>

<div align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><hr size="1" width="160" noshade color="black" align="center" style="width:120.0pt;"></div>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date
of Report (Date of earliest event reported):<br>
<b>August 13, 2007</b>&nbsp;</font></p>

<div align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><hr size="1" width="160" noshade color="black" align="center" style="width:120.0pt;"></div>

<p align="center" style="font-size:10.0pt;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;text-transform:uppercase;">MARTEN TRANSPORT, LTD.<br>
</font></b><font face="Times New Roman">(Exact name of registrant as specified in
its charter)</font></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="31%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:31.74%;">
  <p align="center" style="font-size:10.0pt;margin:0pt 0pt .0001pt;text-align:center;"><!-- SET mrlNoTableShading --><b>Delaware</b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.38%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:31.74%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">0-15010</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.38%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:31.74%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">39-1140809</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="31%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:31.74%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or other
  jurisdiction of<br>
  incorporation)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.38%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:31.74%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Commission File
  Number)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.38%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:31.74%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(I.R.S. Employer<br>
  Identification Number)</font></p>
  </td>
 </tr>
</table>

</div>

<p align="center" style="font-size:10.0pt;margin:0pt 0pt 12.0pt;text-align:center;text-indent:42.75pt;"><font face="Times New Roman">&nbsp;</font></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="font-size:10.0pt;margin:0pt 0pt .0001pt;text-align:center;"><!-- SET mrlNoTableShading --><b>129 Marten Street</b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.38%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Mondovi,
  Wisconsin</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.38%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">54755</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address of
  principal executive offices)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.38%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Zip Code)</font></p>
  </td>
 </tr>
</table>

</div>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="font-size:10.0pt;margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;text-transform:uppercase;">(715) 926-4216<br>
</font></b><font face="Times New Roman">(Registrant&#146;s telephone number, including
area code)</font></p>

<p align="center" style="font-size:10.0pt;margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Not applicable.<br>
</font></b><font face="Times New Roman">(Former name or former address, if
changed since last report)</font></p>

<p style="margin:0pt 0pt 12.0pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">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 (see General Instruction A.2. below):</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.28%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading --><font face="Wingdings">o</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:1.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.92%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Written communications pursuant to Rule 425 under
  the Securities Act (17 CFR 230.425)</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.28%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:1.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.92%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.28%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:1.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.92%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Soliciting material pursuant to Rule 14a-12 under
  the Exchange Act (17 CFR 240.14a-12)</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.28%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:1.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.92%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.28%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:1.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.92%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pre-commencement communications pursuant to Rule
  14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.28%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:1.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.92%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.28%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:1.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.92%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pre-commencement communications pursuant to Rule
  13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>
  </td>
 </tr>
</table>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


 <div style="border:none;border-bottom:double windowtext 6.0pt;padding:0pt 0pt 0pt 0pt;"> <p style="border:none;margin:0pt 0pt .0001pt;padding:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p> </div>
</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt 12.0pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Section 5 &#151; Corporate Governance and Management</font></b></p>

<p style="margin:0pt 0pt 12.0pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 5.02.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers</font></b></p>

<p style="margin:0pt 0pt 12.0pt;page-break-after:avoid;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Election of New Directors</font></i></b></p>

<p style="margin:0pt 0pt 12.0pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On August 13, 2007, the company&#146;s board of directors
elected Robert L. Demorest and G. Larry Owens as independent directors of the
company.&#160; Robert L. Demorest&#146;s and G.
Larry Owens&#146; initial terms will begin at the next scheduled meeting of the
board of directors, which is expected to be in December of 2007.&#160; As of the date of this filing, the company
has not determined which, if any, committees of the board of directors that Mr.
Demorest or Mr. Owens will join.</font></p>

<p style="margin:0pt 0pt 12.0pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Robert L. Demorest has served as the President, Chief
Executive Officer and Chairman of the Board of MOCON, Inc., a company that
designs, manufactures, markets and services products and provides consulting
services primarily in the measurement and analytical instrument and services
markets, since April 2000.&#160; Prior to that
time, Mr. Demorest had been President of MOCON Inc. for more than five
years.&#160;&#160; </font></p>

<p style="margin:0pt 0pt 12.0pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">G. Larry Owens has served as the Chief Executive
Officer, President and Secretary of Smithway Motor Xpress Corp., a truckload
carrier that provides nationwide transportation of diversified freight,
concentrating primarily on the flatbed segment of the truckload market, since
March 5, 2004, and has served as the Chairman of the Board of Smithway Motor
Xpress Corp. since April 2, 2004.&#160; Mr. Owens
had served prior to that time as the Executive Vice President and Chief
Financial Officer of Smithway Motor Xpress Corp. from January 1993 and Chief
Administrative Officer from August 2001. Mr. Owens also served as the Chief
Operating Officer of Smithway Motor Xpress Corp. from May 1998 to August 2001.
Prior to joining Smithway Motor Xpress Corp., Mr. Owens spent twenty-five years
in the banking industry, most recently from 1982 through 1992 as President of
Boatmen&#146;s Bancshares&#146; regional banks in Spencer and Fort Dodge, Iowa.</font></p>

<p style="margin:0pt 0pt 12.0pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the company&#146;s amended and restated
certificate of incorporation and bylaws, the company&#146;s board of directors has
the power to increase the authorized number of directors and fill vacancies on
the board arising from any such newly created directorship by the affirmative
vote of a majority of the directors serving at the time of the increase.&#160; On August 13, 2007, the company&#146;s board of
directors increased the size of the Board from five members to seven members
and elected Robert L. Demorest and G. Larry Owens as new directors.&#160; There is no arrangement or understanding
between Robert L. Demorest or G. Larry Owens and any other persons pursuant to
which Robert L. Demorest or G. Larry Owens were selected as a director of the company.&#160; Robert L. Demorest or G. Larry Owens do not
have any direct or indirect material interest in any existing or currently
proposed transaction to which the company is or may become a party.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As non-employee
directors, Robert L. Demorest and G. Larry Owens will each be paid an annual
board retainer of $20,000.&#160; The company
generally pays non-employee directors a fee of $1,000 for each board meeting
attended, $500 for each committee meeting attended, and reimburses them for
out-of-pocket expenses of attending meetings.&#160;
</font>In addition each
will be eligible to receive an automatic grant of an option to purchase 2,500
shares of common stock annually upon re-election to the board by the
stockholders, beginning with the 2008 annual meeting of stockholders.&nbsp;
These options will be issued at a per share exercise price equal to the fair
market value of one share of common stock on the grant date and expire ten
years from the grant date.</p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt 12.0pt;page-break-after:avoid;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Amended and Restated Change in
Control Severance Agreements</font></i></b></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On August 13, 2007, the
company&#146;s board of directors approved amended and restated change in control
severance agreements for Randolph L. Marten, Robert G. Smith, Timothy P. Nash,
Donald J. Hinson, and James J. Hinnendael, a form of which is attached hereto
as Exhibit 10.1.&#160; The amended and
restated change in control severance agreements make changes to the change in
control severance agreements previously entered into between the company and
these officers, in order to comply with final regulations published by the
Internal Revenue Service under an exception to Section 409A of the Internal
Revenue Code of 1986, as amended, and there were no changes to the economic
terms of the change in control severance agreements.&#160; The board of directors also approved a change
in control severance agreement that contains the same terms and conditions as
the form attached hereto as Exhibit 10.1 with John H. Turner, a newly appointed
executive officer. </font></p>

<p style="margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 9.01. Financial Statements
and Exhibits.</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160; <u>Financial Statements of Businesses
Acquired</u>. </font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:54.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Not Applicable.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160; <u>Pro Forma Financial Information</u>. </font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:54.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Not Applicable.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160; <u>Shell Company Transactions</u>.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:54.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Not Applicable.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160; <u>Exhibits</u>. </font></p>

<div align="center" style="font-family:Times New Roman;">

<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;">
 <tr style="page-break-inside:avoid;">
  <td width="88" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:66.1pt;">
  <p align="center" style="font-size:10.0pt;margin:0pt 0pt .0001pt;text-align:center;"><!-- SET mrlHTMLTableCenter --><!-- SET mrlNoTableShading --><b><font size="1" style="font-size:8.0pt;font-weight:bold;">Exhibit No.</font></b></p>
  </td>
  <td width="16" valign="top" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="491" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:368.55pt;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Description</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="88" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:66.1pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="491" valign="top" style="padding:0pt .7pt 0pt 0pt;width:368.55pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="88" valign="top" style="padding:0pt .7pt 0pt 0pt;width:66.1pt;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.1</font></p>
  </td>
  <td width="16" valign="top" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="491" valign="top" style="padding:0pt .7pt 0pt 0pt;width:368.55pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form of Amended and Restated Change in Control
  Severance Agreement (filed herewith).</font></p>
  </td>
 </tr>
</table>

</div>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">SIGNATURES<a name="Signatures_101655"></a></font></b></p>

<p style="margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">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 thereunto duly
authorized.</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr>
  <td width="54%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:54.82%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading --></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.18%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">MARTEN TRANSPORT, LTD.</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="54%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:54.82%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.18%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="54%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:54.82%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.18%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="54%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:54.82%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dated: August
  15, 2007</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.74%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By</font></p>
  </td>
  <td width="42%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:42.44%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;/s/ James J.
  Hinnendael</font></p>
  </td>
 </tr>
 <tr>
  <td width="54%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:54.82%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.74%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="42%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:42.44%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">James J.
  Hinnendael</font></p>
  </td>
 </tr>
 <tr>
  <td width="54%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:54.82%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.74%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="42%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:42.44%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Its: Chief
  Financial Officer</font></p>
  </td>
 </tr>
</table>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;text-transform:uppercase;">MARTEN TRANSPORT, LTD.</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;text-transform:uppercase;">FORM 8-K</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;text-transform:uppercase;">INDEX TO EXHIBITS</font></u></b></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="1" cellspacing="0" cellpadding="0" width="100%" style="border:none;border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="11%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:11.54%;">
  <p align="center" style="font-size:10.0pt;margin:0pt 0pt .0001pt;text-align:center;"><!-- SET mrlNoTableShading --><b><font size="1" style="font-size:8.0pt;font-weight:bold;">Exhibit No.</font></b></p>
  </td>
  <td width="2%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:2.74%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="85%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:85.72%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Description</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="11%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:11.54%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:2.74%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="85%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:85.72%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="11%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:11.54%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.1</font></p>
  </td>
  <td width="2%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:2.74%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="85%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:85.72%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form of Amended and Restated Change in Control
  Severance Agreement&nbsp; (filed herewith).</font></p>
  </td>
 </tr>
</table>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>
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<div>


<p align="right" style="margin:0pt 0pt 12.0pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 10.1</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt .0001pt;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">AMENDED
AND RESTATED</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">CHANGE IN CONTROL SEVERANCE AGREEMENT</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Change in Control
Severance Agreement (this &#147;<u>Agreement</u>&#148;), effective as of August &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2007, is between Marten Transport, Ltd., a Delaware corporation, located at 129
Marten Street, Mondovi, Wisconsin 54755 (the &#147;<u>Company</u>&#148;) and &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
an individual residing at &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>  </b>(the&nbsp;&#148;<u>Executive</u>&#148;).</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
Company and the Executive entered into a Change in Control Severance Agreement,
dated as of March 29, 2006 (the&nbsp;&#148;Original CIC Severance Agreement&#148;).</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
Company and the Executive desire to amend and restate the Original CIC
Severance Agreement to make changes that are necessary or desirable to reflect
the requirements of Section 409A of the Internal Revenue Code of 1986, as
amended (the &#147;<u>Code</u>&#148;) or an appropriate exception to the requirement of
Section 409A, as set forth herein.</p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">C.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Company and the Executive intend that the benefits
provided under this Agreement will comply, in form and operation, with the
requirements of Section 409A of the Code or an appropriate exception to the
requirements of Section 409A and this Agreement will be construed and
administered in a manner that is consistent with and give effect to such
intention.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">D.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Certain
capitalized terms that are used in this Agreement are defined in Exhibit A,
which is an integral part of this Agreement.</p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Accordingly, the Company and
Employee each intending to be legally bound, agree as follows:</font></p>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Term of Agreement</u>.&#160; This Agreement is effective immediately and
will continue in effect until terminated as provided herein.&#160; This Agreement will automatically terminate
upon termination of the Executive&#146;s employment with the Company, except for a
termination contemplated by Section 2, in which case this Agreement will remain
in effect until the date on which the Company&#146;s obligations to the Executive
arising under or in connection with this Agreement have been satisfied in
full.&#160; The Company terminates this
Agreement upon fifteen (15) months prior written notice to the Executive.&#160; Notwithstanding anything in the foregoing to
the contrary, if a Change in Control has occurred during the term of this
Agreement, this Agreement will continue in effect beyond the termination date
then in effect for a period of [CEO - 24 months; other officers - 12 months]
following the month during which the Change in Control occurs or, if later,
until the date on which the Company&#146;s obligations to the Executive arising
under or in connection with this Agreement have been satisfied in full.</font></h1>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Benefits upon a Change in
Control Termination</u>.&#160; The Executive
will become entitled to the benefits described in this Section 2 on account of
a Termination of Employment if and only if (i)&nbsp;the Company terminates the
Executive&#146;s employment for any reason other than the Executive&#146;s death or
Cause, or the Executive terminates the Executive&#146;s employment with the Company
for Good Reason, and (ii)&nbsp;the Termination of Employment occurs either
within the period beginning on the date of a Change in Control and ending on
the last day of the 24th month that begins after the month during which the
Change in Control occurs or prior to a Change in Control if the Executive&#146;s </font></h1>


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<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">termination
was either a condition of the Change in Control or was at the request or
insistence of a Person related to the Change in Control.</font></h1>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 38.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Cash Payment</u>.&#160;
Not more than 10 days following the Date of Termination, or, if later,
not more than 10 days following the date of the Change in Control, the Company
will make a lump-sum cash payment to the Executive in an amount equal to the
sum of (i)&nbsp;[CEO - two times; other officers - one times] the Executive&#146;s
Base Pay, plus (ii)&nbsp;[CEO - two times; other officers - one times] the
Executive&#146;s highest bonus in the three calendar years preceding the year in
which the Change in Control occurs.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 38.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Definitions</u>.&#160;
For purposes of this section, the Continuation Period is the period
beginning on the Executive&#146;s Date of Termination and ending on (i)&nbsp;the
last day of the [CEO &#151; 24th month; other officers &#151; 12th month] month that
begins after the Executive&#146;s Date of Termination or, if earlier, (ii)&nbsp;in
the case of the group health and dental plans referred to in Section 2(c), the
date after the Executive&#146;s Date of Termination on which the Executive first
becomes eligible to participate as an employee in a plan of another employer
providing group health and dental benefits to the Executive and the Executive&#146;s
eligible family members and dependents which plan does not contain any
exclusion or limitation with respect to any pre-existing condition of the
Executive or any eligible family member or dependent who would otherwise be
covered under the Company&#146;s plan but for this clause (ii) or (iii) in the case
of the other welfare benefits referred to in Section 2(d), the date after the
Executive&#146;s Date of Termination on which the Executive first becomes eligible
to participate as an employee in a plan of another employer providing
substantially similar welfare benefits to the Executive and the Executive&#146;s
eligible family members and dependents.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 38.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Group Health Plans</u>.&#160;
If the Executive elects continuation coverage, then, during the
Continuation Period, the Company shall be responsible for a portion of the
Executive&#146;s monthly cost of continuation coverage under the Company&#146;s group
medical and dental plan(s), which by their terms cover the Executive (and the
Executive&#146;s family members and dependents who were eligible to be covered at
any time during the 90-day period immediately prior to the date of the
Change in Control for the period after the Change in Control in which such
family members and dependents would otherwise continue to be covered under the
terms of the plan in effect immediately prior to the Change in Control). The
Executive&#146;s coverage will be deemed to include any Company contribution to a &#147;health
savings account&#148; (or similar arrangement) for the Executive. The portion of the
cost of continuation coverage for which the Company shall be responsible is the
portion in excess of that portion which the Executive would have been
responsible had the Executive&#146;s termination of employment not occurred. If the
level of the Executive&#146;s coverage changes during the Continuation Period, as,
for example, from single to family coverage or to no coverage, the amount for
which the Company is responsible will be determined as if the new coverage
level had been the level of coverage in effect immediately prior to the
Termination of Employment or Change in Control, as the case may be. During this
period, the Executive shall be responsible for the portion of the cost of
continuation coverage for which he would have been responsible had his
termination of employment not occurred.&#160;
The Company&#146;s obligation is contingent upon the Executive electing
continuation coverage in accordance with applicable state and/or federal law
and paying all or a portion of the cost of continuation coverage (as determined
in this Section 2(c)) in a timely manner in accordance with applicable state
and/or federal law.&#160; If the Executive&#146;s
applicable continuation coverage under the Medical Plan or Dental Plan is an
insured option, then the Executive shall pay only </font></h2>


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<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 36.0pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">that portion of the cost of
such continuation coverage for which he is responsible and the Company shall
pay the portion of the cost of such continuation coverage for which the
Employer is responsible. In all other cases, the Executive shall pay the full
amount of the cost of continuation coverage and the Company shall reimburse the
Executive for that portion of the cost of continuation for which the Company is
responsible.&#160; The Executive shall be
entitled to elect health care continuation coverage under the Company&#146;s group
health and/or dental plans for that portion of the Continuation Period that
extends beyond the end of the 18-month COBRA continuation period. If COBRA
continuation coverage is not available to the Executive during any portion of
the Continuation Period (other than by reason of his or her failure to elect
COBRA continuation coverage or to pay the required premiums for such coverage),
the Company will provide comparable medical benefits pursuant to an alternative
arrangement, such as an individual medical insurance contract, and such
alternative benefits will be treated as part of the Company&#146;s health and/or
dental plan.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 38.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Additional Welfare Benefits</u>.&#160; At the time the payment is made under
Section&nbsp;2(a), the Company will make a lump-sum cash payment to the
Executive equal to the aggregate amount of premiums the Company would have paid
during the Continuation Period on behalf of Executive for accidental death and
dismemberment, short and long-term disability, group life insurance and other
life insurance coverages, which by their terms covered the Executive (and the Executive&#146;s
family members and dependents who were eligible to be covered at any time
during the 90-day period immediately prior to the date of the Change in
Control for the period after the Change in Control in which such family members
and dependents would otherwise continue to be covered under the terms of the
plan in effect immediately prior to the Change in Control) under the same terms
and at the same cost to the Company had the Executive continued to be employed
by the Company.&#160; The amount of the premiums
will be based on the premiums in effect at the time of payment and any known,
scheduled increases in such premiums during the Continuation Period.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 38.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Tax Gross-up</u>.&#160;
To the extent the Executive incurs a tax liability (including Federal,
state and local taxes) in connection with a benefit provided pursuant to
Section 2(c) which the Executive would not have incurred had the Executive been
an active employee of the Company participating in the Company&#146;s group health
and dental plans, the Company will make a payment to the Executive in an amount
equal to such tax liability plus an additional amount sufficient to permit the
Executive to retain a net amount, after all taxes, equal to the initial tax
liability in connection with the benefit.&#160;
The payment pursuant to this Section 2(e) will be made within 10 days
after the Executive&#146;s remittal of a written request for payment accompanied by
a statement indicating the basis for and amount of the Executive&#146;s tax
liability, but in no event later than December 31 of the calendar year next
following the calendar year in which the related taxes are remitted to the
appropriate taxing authority.</font></h2>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Gross-Up Payments</u>.</font></h1>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 38.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; If the Executive becomes entitled to payments and benefits
following a Change in Control under Section 2, the Company will cause its
independent auditors (the&nbsp;&#148;Accounting Firm&#148;) promptly to review, at the
Company&#146;s sole expense, the applicability of Code Section 4999 to any payment
or distribution of any type by the Company to or for the Executive&#146;s benefit,
whether paid or payable or distributed or distributable pursuant to the terms
of this Agreement, any stock option agreement or </font></h2>


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<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 36.0pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">certificate or otherwise,
but determined without regard to any payments required under this Section 3
(the &#147;Payments&#148;).&#160; If the Accounting Firm
determines that the Total Payments result in an excise tax imposed on the
Executive by Code Section 4999 or any comparable state or local law (such
excise tax referred to as the &#147;Excise Tax&#148;), the Company will make an
additional cash payment (a &#147;Gross-Up Payment&#148;) to the Executive equal to an
amount such that after payment by the Executive of all the taxes imposed on the
Executive, including any Excise Tax, as a result of the Gross-Up Payment, the
Executive would retain an amount of the Gross-Up Payment equal to the Excise
Tax as a result of the Payments.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 38.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Subject to the provisions of Section 3(d), all
determinations required to be made under this Section 3, including whether and
when a Gross-Up Payment is required and the amount such Gross-Up Payment and
the assumptions to be used in arriving at such determination, must be made by
the Accounting Firm, which must provide detailed supporting calculations both
to the Company and the Executive within 15 business days of the receipt of notice
from the Executive that there has been a Payment, or such earlier time as is
requested by the Company.&#160; In the event
that the Accounting Firm is serving as accountant or auditor for the
individual, entity or group effecting the Change of Control, the Executive must
appoint another nationally recognized accounting firm to make the
determinations required hereunder (which accounting firm will then be referred
to as the &#147;Accounting Firm&#148; hereunder).&#160;
All fees and expenses of the Accounting Firm will be borne solely by the
Company.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 38.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; If no determination of the Excise Tax is made by the
Accounting Firm prior to the time the Executive is required to file a tax
return reflecting the Payments, the Executive will be entitled to receive from
the Company a Gross-Up Payment calculated on the basis of the Excise Tax the
Executive reported in such tax return.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 38.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; If any taxing authority determines that a greater Excise
Tax should be imposed upon the Payments than is determined by the Company&#146;s
independent auditors or reflected in the Executive&#146;s tax return pursuant to
this Section 3, the Executive will be entitled to receive from the Company the
full Gross-Up Payment calculated on the basis of the amount of Excise Tax
determined to be payable by such taxing authority.&#160; The Executive must notify the Company in
writing of any claim by the Internal Revenue Service or any other taxing
authority that, if successful, would require the payment by the Company of any
Gross-Up Payment.&#160; Such notification must
be given as soon as practicable but no later than 10 business days after the
Executive knows of such claim and must apprise the Company of the nature of
such claim and the date on which such claim is requested to be paid.&#160; The Executive must not pay such claim prior
to the expiration of the 30-day period following the date on which it gives
such notice to the Company (or such shorter period ending on the date that any
payment of taxes with respect to such claim is due).&#160; If the Company notifies the Executive in
writing prior to the expiration of such period that it desires to contest such
claim, the Executive must:</font></h2>

<h3 style="font-weight:normal;margin:0pt 0pt 12.0pt 74.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; give the Company any information reasonably requested by
the Company relating to such claim;</font></h3>

<h3 style="font-weight:normal;margin:0pt 0pt 12.0pt 74.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; take such action in connection with contesting such claim
as the Company will reasonably request in writing from time to time, including
accepting </font></h3>


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<h3 style="font-weight:normal;margin:0pt 0pt 12.0pt 72.0pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">legal representation with
respect to such claim by an attorney reasonably selected by the Company;</font></h3>

<h3 style="font-weight:normal;margin:0pt 0pt 12.0pt 74.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; cooperate with the Company in good faith in order to
effectively contest such claim; and</font></h3>

<h3 style="font-weight:normal;margin:0pt 0pt 12.0pt 74.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; permit the Company to participate in any proceedings
relating to such claim; provided, however, that the Company will bear and pay
directly all costs and expenses (including additional interest and penalties)
incurred in connection with such contest and will indemnify and hold the
Executive harmless, on an after-tax basis, for any Excise Tax or income tax
(including interest and penalties with respect thereto) or expense imposed or
incurred as a result of such representation and payment of costs and
expenses.&#160; Without limitation on the
foregoing provisions of this Section 3(d), the Company will control all
proceedings taken in connection with such contest and, at its sole option, may
pursue or forego any and all administrative appeals, proceedings, hearings and
conferences with the taxing authority in respect of such claim and may, at its
sole option, either direct the Executive to pay the tax claimed and sue for a
refund or contest the claim in any permissible manner, and the Executive agrees
to prosecute such contest to a determination before any administrative
tribunal, in a court of initial jurisdiction and in one or more appellate
courts, as the Company will determine; provided further, however, that if the
Company directs the Executive to pay such claim and sue for a refund, the
Company will advance the amount of such payment to the Executive on an
interest-free basis and will indemnify and hold the Executive harmless, on an
after-tax basis, from any Excise Tax or income tax (including interest or
penalties with respect thereto) imposed with respect to such advance or with
respect to any imputed income with respect to such advance; and provided
further that any extension of the statute of limitations relating to payment of
taxes for the taxable year of the Executive with respect to which such
contested amount is claimed to be due is limited solely to such contested
amount.&#160; Furthermore, the Company&#146;s
control of the contest will be limited to issues with respect to which a
Gross-Up Payment would be payable hereunder and the Executive will be entitled
to settle or contest, as the case may be, any other issue raised by the
Internal Revenue Service or any other taxing authority.</font></h3>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 38.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; If, after the receipt by the Executive of an amount advanced
by the Company pursuant to Section 3(d), the Executive becomes entitled to
receive any refund with respect to such claim, the Executive must (subject to
the Company&#146;s complying with the requirements of Section 3(d)) promptly pay to
the Company the amount of such refund (together with any interest paid or
credited thereon after taxes applicable thereto).&#160; If, after the receipt by the Executive of an
amount advanced by the Company pursuant to Section 3(d), a determination is
made that the Executive will not be entitled to any refund with respect to such
claim and the Company does not notify the Executive in writing of its intent to
contest such denial of refund prior to the expiration of thirty days after such
determination, then such advance will be forgiven and will not be required to
be repaid and the amount of such advance will offset, to the extent thereof,
the amount of Gross-Up Payment required to be paid.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 38.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The payment(s) pursuant to this Section 3 will be made
within 10 days after the Executive&#146;s remittal of a written request for payment
accompanied by a statement indicating the basis for and the amount of the
Executive&#146;s actual tax liability. Reimbursement </font></h2>


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<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 36.0pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">of the Gross-Up Payment, and
any expenses incurred by the Executive under Section 3(d), will be made not
later than the end of the calendar year next following the calendar year in
which the Executive remits the related taxes to the appropriate taxing
authority (either directly or through tax withholdings), provided if an
additional Gross-Up Payment is payable following an audit or litigation and no
additional taxes are remitted by the Executive, reimbursement by the Company
shall be made by the end of the calendar year next following the calendar year
in which the audit is completed or there is a final nonappealable settlement or
other resolution of the litigation.&#160;
Notwithstanding any other provision of this Section 3, the Company may,
in its sole discretion, withhold and pay over to the Internal Revenue Service
or any other applicable taxing authority, for the benefit of the Executive, all
or any portion of the Gross-Up Payment and the Executive hereby consents to
such withholding.</font></h2>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Indemnification</u>.&#160; Following a Change in Control, the Company
will indemnify and advance expenses to the Executive for damages, costs and
expenses (including, without limitation, judgments, fines, penalties,
settlements and reasonable fees and expenses of the Executive&#146;s counsel)
incurred in connection with all matters, events and transactions relating to
the Executive&#146;s service to or status with the Company or any other corporation,
employee benefit plan or other Person for which the Executive served at the
request of the Company to the extent that the Company would have been required
to do so under applicable law, corporate articles, bylaws or agreements or
instruments of any nature with or covering the Executive, as in effect
immediately prior to the Change in Control and to any further extent as may be
determined or agreed upon following the Change in Control.</font></h1>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Miscellaneous</u>.</font></h1>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 38.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Binding Agreement</u>.&#160;
This Agreement inures to the benefit of, and is enforceable by, the
Executive, the Executive&#146;s personal and legal representatives, executors,
administrators, successors, heirs, distributees, devisees and legatees.&#160; If the Executive dies while any amount would
still be payable to the Executive under this Agreement if the Executive had
continued to live, all such amounts, unless otherwise provided in this
Agreement, will be paid in accordance with the terms of this Agreement to the
Executive&#146;s devisee, legatee or other designee or, if there be no such
designee, to the Executive&#146;s estate.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 38.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>No Mitigation</u>.&#160;
The Executive will not be required to mitigate the amount of any
benefits the Company becomes obligated to provide to the Executive in
connection with this Agreement by seeking other employment or otherwise.&#160; The benefits to be provided to the Executive
in connection with this Agreement may not be reduced, offset or subject to
recovery by the Company by any benefits the Executive may receive from other
employment or otherwise.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 38.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>No Setoff</u>.&#160;
The Company has no right to setoff benefits owed to the Executive under
this Agreement against amounts owed or claimed to be owed by the Executive to
the Company under this Agreement or otherwise.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 38.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Taxes</u>.&#160; All
benefits to be provided to the Executive in connection with this Agreement will
be subject to required withholding of federal, state and local income, excise
and employment-related taxes.&#160; The
Company&#146;s good faith determination with respect to its obligation to withhold
such taxes relieves it of any obligation that such amounts should have been
paid to the Executive.</font></h2>


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<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 38.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Notices</u>.&#160; For
the purposes of this Agreement, notices and all other communications provided
for in, or required under, this Agreement must be in writing and will be deemed
to have been duly given when personally delivered or when mailed by United
States registered or certified mail, return receipt requested, postage prepaid
and addressed to each party&#146;s respective address set forth on the first page of
this Agreement (provided that all notices to the Company must be directed to
the attention of the President), or to such other address as either party may
have furnished to the other in writing in accordance with these provisions,
except that notice of change of address will be effective only upon receipt.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 38.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Disputes</u>.&#160; If
the Executive so elects, any dispute, controversy or claim arising under or in
connection with this Agreement will be settled exclusively by binding
arbitration administered by the American Arbitration Association in
Minneapolis, Minnesota in accordance with the Commercial Arbitration Rules of
the American Arbitration Association then in effect; provided that the
Executive may seek specific performance of the Executive&#146;s right to receive
benefits until the Date of Termination during the pendency of any dispute or
controversy arising under or in connection with this Agreement.&#160; Judgment may be entered on the arbitrator&#146;s
award in any court having jurisdiction.&#160;
If any dispute, controversy or claim for damages arising under or in
connection with this Agreement is settled by arbitration, the Company will pay,
or if elected by the Executive, reimburse, all fees, costs and expenses
incurred by the Executive related to such arbitration unless the arbitrators
decide that the Executive&#146;s claim was frivolous or advanced by the Executive in
bad faith.&#160; If the Executive does not
elect arbitration, the Executive may pursue all available legal remedies. &#160;The Company will pay, or if elected by the
Executive, reimburse the Executive for, all fees, costs and expenses incurred
by the Executive in connection with any actual, threatened or contemplated
litigation relating to this Agreement to which the Executive is or reasonably
expects to become a party, whether or not initiated by the Executive, if the
Executive is successful in recovering any benefit under this Agreement as a
result of such action.&#160; The Company will
not assert in any dispute or controversy with the Executive arising under or in
connection with this Agreement the Executive&#146;s failure to exhaust
administrative remedies.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 38.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Effect of Plan Benefits on Other Severance Plans</u>.&#160; In the event the Executive receives any
payment under the terms of this Agreement, the Executive will not be eligible
to receive benefits under any other severance pay plan sponsored or maintained
by the Company.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 38.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Related Agreements and Other Arrangements</u>.&#160; This Agreement, including Exhibit A attached
hereto and incorporated as an integral part of this Agreement, constitutes the
entire agreement of the parties with respect to the subject matter hereof, and
no agreements or representations, oral or otherwise, express or implied, with
respect to the subject matter to this Agreement have been made by any party
which are not expressly set forth in this Agreement.&#160; This Agreement supersedes and replaces the
Original CIC Severance Agreement in its entirety.&#160; To the extent that any provision of any Other
Arrangement limits, qualifies or is inconsistent with any provision of this
Agreement, then for purposes of this Agreement, while such Other Arrangement
remains in force, the provision of this Agreement will control and such
provision of such Other Arrangement will be deemed to have been superseded, and
to be of no force or effect, as if such Other Arrangement had been formally
amended to the extent necessary to accomplish such purpose.&#160; Nothing in this Agreement prevents or limits
the Executive&#146;s continuing or future </font></h2>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 36.0pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">participation in any Other
Arrangement for which the Executive may qualify, and nothing in this Agreement
limits or otherwise affects the rights the Executive may have under any Other
Arrangement.&#160; Amounts that are vested
benefits or which the Executive is otherwise entitled to receive under any
Other Arrangement at or subsequent to the Date of Termination will be payable
in accordance with such Other Arrangement.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 38.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>No Employment or Service Contract</u>.&#160; Nothing in this Agreement is intended to
provide the Executive with any right to continue in the employ of the Company
for any period of specific duration or interfere with or otherwise restrict in
any way the Executive&#146;s rights or the rights of the Company.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 38.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(j)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Payment; Assignment</u>.&#160; Benefits payable under this Agreement will be
paid only from the general assets of the Company.&#160; No person has any right to or interest in any
specific assets of the Company by reason of this Agreement.&#160; To the extent benefits under this Agreement
are not paid when due to any individual, he or she is a general unsecured
creditor of the Company with respect to any amounts due.&#160; Benefits payable pursuant to this Agreement
and the right to receive future benefits may not be anticipated, alienated,
sold, transferred, assigned, pledged, encumbered or subject to any charge.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 38.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(k)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Late Payments</u>.&#160;
Benefits not paid under this Agreement when due will accrue interest at
the rate of 10% per year or the maximum rate permitted under applicable law.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 38.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(l)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Survival</u>.&#160;
The respective obligations of, and benefits afforded to, the Company and
the Executive which by their express terms or clear intent survive termination
of the Executive&#146;s employment with the Company or termination of this
Agreement, as the case may be, will survive termination of the Executive&#146;s
employment with the Company or termination of this Agreement, as the case may
be, and will remain in full force and effect according to their terms.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 38.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(m)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Amendments; Waivers</u>.&#160;
No provision of this Agreement may be modified, waived or discharged
unless such modification, waiver or discharge is agreed to in a writing signed
by the Executive and a duly authorized officer of the Parent Corporation.&#160; No waiver by any party to this Agreement at
any time of any breach by another party to this Agreement of, or of compliance
with any condition or provision of this Agreement to be performed by such party
will be deemed a waiver of similar or dissimilar provisions or conditions at
the same or at any prior or subsequent time.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 38.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(n)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Governing Law</u>.&#160;
This Agreement and the legal relations among the parties as to all
matters, including, without limitation, matters of validity, interpretation,
construction, performance and remedies, will be governed by and construed
exclusively in accordance with the internal laws of the State of Wisconsin
(without regard to the conflict of laws principles of any jurisdiction).</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 38.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(o)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Further Assurances</u>.&#160;
The parties to this Agreement agree to perform, or cause to be
performed, such further acts and deeds and to execute and deliver or cause to
be executed and delivered, such additional or supplemental documents or
instruments as may be reasonably required by the other party to carry into
effect the intent and purpose of this Agreement.</font></h2>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 38.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(p)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Interpretation</u>.&#160;
The invalidity or unenforceability of all or any part of any provision
of this Agreement will not affect the validity or enforceability of the
remainder of such provision or of any other provision of this Agreement, which
will remain in full force and effect.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 38.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(q)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Counterparts</u>.&#160;
This Agreement may be executed in several counterparts, each of which
will be deemed to be an original, but all of which together will constitute one
and the same instrument.</font></h2>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">IN WITNESS WHEREOF, the
Company and the Executive have executed this Agreement as of the date first
above written.</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="35%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:35.72%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading --><b>MARTEN TRANSPORT, LTD.</b></p>
  </td>
  <td width="24%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:24.88%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="34%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:34.7%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">EXECUTIVE</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.68%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="35%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:35.72%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="24%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:24.88%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="34%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:34.7%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.68%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="35%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:35.72%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="24%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:24.88%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="34%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:34.7%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.68%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="31%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:31.76%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="24%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:24.88%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="34%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:34.7%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.68%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:31.76%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Randolph L.
  Marten <br>
  President and Chief Executive Officer</font></p>
  </td>
  <td width="24%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:24.88%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="34%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:34.7%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[Name of Executive]</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.68%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9</font></p>
</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p align="right" style="margin:0pt 0pt 12.0pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit A</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">DEFINITIONS</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For
purposes of the Agreement, the following terms will have the meaning set forth
below in this Exhibit A unless the context clearly requires otherwise.&#160; Terms defined elsewhere in the Agreement will
have the same meaning throughout the Agreement.</font></p>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;<u>Affiliate</u>&#148; means any person
with whom the Company would be considered a single employer under Sections
414(b) and 414(c) of the Code, namely (i) any corporation at least eighty
percent (80%) of whose outstanding securities ordinarily having the right to
vote at elections of directors is owned directly or indirectly by the Parent
Corporation or (ii) any other form of business entity in which the Parent
Corporation, directly or indirectly, owns eighty percent (80%) or more of the
controlling interests in such entity. Solely for purposes of determining
whether a Termination of Employment has occurred, the term Affiliate will be
determined by applying Code section 1563(a)((1), (2) and (3) for purposes of
determining a controlled group of corporations under Code section 414(b) and in
applying Treas. Reg. Section 1.414(c)-2 for purposes of determining trades or
businesses that are under common control for purposes of Code section 414(c),
the phrase &#147;at least 50 percent&#148; will be used instead of &#147;at least 80 percent&#148;
each place it appears.</font></h1>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;<u>Base Pay</u>&#148; means the
Executive&#146;s annual base salary from the Company at the rate in effect
immediately prior to a Change in Control or at the time Notice of Termination
is given, whichever is greater.&#160; Base Pay
includes only regular cash salary and is determined before any reduction for
deferrals pursuant to any nonqualified deferred compensation plan or
arrangement, qualified cash or deferred arrangement or cafeteria plan.</font></h1>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;<u>Benefit Plan</u>&#148; means any</font></h1>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 40.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; employee benefit plan as defined in Section 3(3) of ERISA;</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 40.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; cafeteria plan described in Code Section 125;</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 40.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; plan, policy or practice providing for paid vacation, other
paid time off or short-or long-term profit sharing, bonus or incentive payments
or perquisites; or</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 40.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; stock option, stock purchase, restricted stock, phantom
stock, stock appreciation right or other equity-based compensation plan with
respect to the securities of any Affiliate that is sponsored, maintained or
contributed to by the Company for the benefit of employees (and/or their
families and dependents) generally or the Executive in particular (and/or the
Executive&#146;s family and dependents).</font></h2>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;<u>Board</u>&#148; means the board of
directors of the Parent Corporation duly qualified and acting at the time in
question.&#160; On and after the date of a
Change in Control, any duty of the Board in connection with this Agreement is
nondelegable and any attempt by the Board to delegate any such duty is
ineffective.</font></h1>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;<u>Cause</u>&#148; means:</font></h1>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 40.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the Executive&#146;s gross misconduct that is materially and
demonstrably injurious to the Company;</font></h2>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-1</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 40.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the Executive&#146;s willful and continued failure to perform
substantially the Executive&#146;s duties with the Company (other than any such
failure (1) resulting from the Executive&#146;s incapacity due to bodily injury or
physical or mental illness or (2) relating to changes in the Executive&#146;s duties
after a Change in Control that constitute Good Reason) after a demand for
substantial performance is delivered to the Executive by the chair of the Board
which specifically identifies the manner in which the Executive has not
substantially performed the Executive&#146;s duties and provides for a reasonable
period of time within which the Executive may take corrective actions; or</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 40.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the Executive&#146;s conviction (including a plea of nolo
contendere) of willfully engaging in illegal conduct constituting a felony or
gross misdemeanor under federal or state law which is materially and
demonstrably injurious to the Company or which impairs the Executive&#146;s ability
to perform substantially the Executive&#146;s duties for the Company.</font></h2>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">An
act or failure to act will be considered &#147;gross or willful&#148; for this purpose
only if done, or omitted to be done, by the Executive in bad faith and without
reasonable belief that it was in, or not opposed to, the best interests of the
Company.&#160; Any act, or failure to act,
based upon authority given pursuant to a resolution duly adopted by the Board
(or a committee thereof) or based upon the advice of counsel for the Company
will be conclusively presumed to be done, or omitted to be done, by the
Executive in good faith and in the best interests of the Company.&#160; It is also expressly understood that the
Executive&#146;s attention to matters not directly related to the business of the
Company will not provide a basis for termination for Cause so long as the Board
did not expressly disapprove in writing of the Executive&#146;s engagement in such
activities either before or within a reasonable period of time after the Board
knew or could reasonably have known that the Executive engaged in those
activities.&#160; Notwithstanding the
foregoing, the Executive may not be terminated for Cause unless and until there
has been delivered to the Executive a copy of a resolution duly adopted by the
affirmative vote of not less than a majority of the entire membership of the
Board at a meeting of the Board called and held for the purpose (after
reasonable notice to the Executive and an opportunity for the Executive,
together with the Executive&#146;s counsel, to be heard before the Board), finding
that in the good faith opinion of the Board the Executive were guilty of the
conduct set forth above in clauses (a), (b) or (c) of this definition and
specifying the particulars thereof in detail.</font></p>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;<u>Change in Control</u>&#148; means
the occurrence of any of the following on or after March 29, 2006:</font></h1>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 40.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the sale, lease, exchange or other transfer, directly or
indirectly, of substantially all of the assets of the Company (in one
transaction or in a series of related transactions) to a person or entity that
is not controlled by the Company; or</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 40.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the approval of stockholders of the Company of any plan or
proposal for the liquidation or dissolution of the Company; or</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 40.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; a merger or consolidation to which the Company is a party
if the stockholders of the Company immediately prior to the effective date of
such merger or consolidation have &#147;beneficial ownership&#148; (as defined in Rule
13d-3 under the Exchange Act), immediately following the effective date of such
merger or consolidation, of securities of the surviving corporation
representing less than 50% of the combined voting power of the surviving
corporation&#146;s then outstanding securities ordinarily having the right to vote
at elections of directors; or</font></h2>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-2</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 40.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; any person, other than (i) the Company, (ii) any trustee or
other fiduciary holding securities under any employee benefit plan of the
Company, (iii) Randolph L. Marten or any of his affiliates, or (iv) Christine
K. Marten or any of her affiliates, becomes after the effective date of the
Plan the &#147;beneficial owner&#148; (as defined in Rule 13d-3 under the Exchange Act),
directly or indirectly, of 50% or more of the combined voting power of the
Company&#146;s outstanding securities ordinarily having the right to vote at
elections of directors.</font></h2>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;<u>Code</u>&#148; means the Internal
Revenue Code of 1986, as amended.&#160; Any
reference to a specific provision of the Code includes a reference to such
provision as it may be amended from time to time and to any successor
provision.</font></h1>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;<u>Company</u>&#148; means the Parent
Corporation, any Successor and any Affiliate.</font></h1>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;<u>Date of Termination</u>&#148;
following a Change in Control (or prior to a Change in Control if the Executive&#146;s
termination was either a condition of the Change in Control or was at the
request or insistence of any Person related to the Change in Control) means:</font></h1>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 40.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; if the Executive&#146;s employment is to be terminated by the
Executive, the date specified in the Notice of Termination which in no event
may be a date more than 15 days after the date on which Notice of Termination
is given unless the Company agrees in writing to a later date;</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 40.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; if the Executive&#146;s employment is to be terminated by the
Company for Cause, the date specified in the Notice of Termination;</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 40.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; if the Executive&#146;s employment is terminated by reason of
the Executive&#146;s death, the date of the Executive&#146;s death; or</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 40.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; if the Executive&#146;s employment is to be terminated by the
Company for any reason other than Cause or the Executive&#146;s death, the date
specified in the Notice of Termination, which in no event may be a date earlier
than 15 days after the date on which a Notice of Termination is given, unless
the Executive expressly agrees in writing to an earlier date.</font></h2>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In
the case of termination by the Company of the Executive&#146;s employment for Cause,
if the Executive has not previously expressly agreed in writing to the
termination, then within the 30-day period after the Executive&#146;s receipt of the
Notice of Termination, the Executive may notify the Company that a dispute
exists concerning the termination, in which event the Date of Termination will
be the date set either by mutual written agreement of the parties or by the
judge or arbitrators in a proceeding as provided in Section 5(g) of the
Agreement.&#160; During the pendency of any
such dispute, the Executive will continue to make the Executive available to
provide services to the Company and the Company will continue to pay the
Executive the Executive&#146;s full compensation and benefits in effect immediately
prior to the date on which the Notice of Termination is given (without regard to
any changes to such compensation or benefits that constitute Good Reason) and
until the dispute is resolved in accordance with Section 5(g) of the
Agreement.&#160; The Executive will be
entitled to retain the full amount of any such compensation and benefits without
regard to the resolution of the dispute unless the judge or arbitrators
decide(s) that the Executive&#146;s claim of a dispute was frivolous or advanced by
the Executive in bad faith. Notwithstanding the foregoing, the </font></p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-3</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Executive&#146;s
Date of Termination must be consistent with the date of the Executive&#146;s
Termination of Employment.</font></p>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;<u>ERISA</u>&#148; means the Employee
Retirement Income Security Act of 1974, as amended.&#160; Any reference to a specific provision of
ERISA includes a reference to such provision as it may be amended from time to
time and to any successor provision.</font></h1>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;<u>Exchange Act</u>&#148; means the
Securities Exchange Act of 1934, as amended.&#160;
Any reference to a specific provision of the Exchange Act or to any rule
or regulation thereunder includes a reference to such provision as it may be
amended from time to time and to any successor provision.</font></h1>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;<u>Good Reason</u>&#148; means:</font></h1>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 40.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; a material diminution in the Executive&#146;s authority, duties
or responsibilities as an executive of the Company as in effect immediately prior
to the Change in Control (other than, if applicable, any such change directly
attributable to the fact that the Parent Corporation is no longer publicly
owned);</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 40.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; a material diminution in the Executive&#146;s base compensation;</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 40.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; a material diminution in the authority, duties, or
responsibilities of the supervisor to whom the Executive reports as in effect
immediately prior to the Change in Control, including any requirement that the
Executive report to a corporate officer or employee instead of reporting
directly to the Board if the Executive reported directly to the Board
immediately prior to the Change in Control;</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 40.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; a material diminution in the budget over which the Executive
retains authority;</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 40.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; a material change in the geographic location at which the
Company requires the Executive to be based as compared to the location where
the Executive was based immediately prior to the Change in Control; or</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 40.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; any other action or inaction by the Company that
constitutes a material breach of any employment agreement between the Company
and the Executive.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt 40.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; An act or omission will not constitute a &#147;good reason&#148;
unless the Executive gives written notice to the Company of the existence of
such act or omission within 90 days of its initial existence and the Company
fails to cure the act or omission within 30 days after the notification.</font></h2>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;<u>Notice of Termination</u>&#148; means
a written notice given on or after the date of a Change in Control (unless the
Executive&#146;s termination before the date of the Change in Control was either a
condition of the Change in Control or was at the request or insistence of any
Person related to the Change in Control in which case the written notice may be
given before the date of the Change in Control) which indicates the specific
termination provision in the Agreement pursuant to which the notice is
given.&#160; Any purported termination by the
Company or by the Executive on or after the date of a Change in Control (or
before the date of a Change in Control if the Executive&#146;s termination was either
a condition of the Change in Control or was at the request or insistence of any
Person related to the Change in Control) must be communicated by written Notice
of Termination to be effective;</font></h1>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-4</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">provided,
that the Executive&#146;s failure to provide Notice of Termination will not limit
any of the Executive&#146;s rights under the Agreement except to the extent the
Company demonstrates that it suffered material actual damages by reason of such
failure.</font></h1>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;<u>Other Arrangement</u>&#148; is any
Benefit Plan or other plan, policy or practice of the Company or any other
agreement between the Executive and the Company, other than this Agreement.</font></h1>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;<u>Parent Corporation</u>&#148; means
Marten Transport, Ltd. and any Successor.</font></h1>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;<u>Person</u>&#148; means any individual,
corporation partnership, group, association or other person,&#148; as such term is
used in Section 13(d) or Section 14(d) of the Exchange Act, other than the
Parent Corporation, any Affiliate or any benefit plan(s) sponsored by the
Parent Corporation or an Affiliate.</font></h1>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;<u>Successor</u>&#148; means any Person
that succeeds to, or has the practical ability to control (either immediately
or solely with the passage of time), the Parent Corporation&#146;s business
directly, by merger, consolidation or other form of business combination, or
indirectly, by purchase of the Parent Corporation&#146;s outstanding securities
ordinarily having the right to vote at the election of directors or all or
substantially all of its assets or otherwise.</font></h1>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;<u>Termination of Employment</u>&#148;
means a termination of Executive&#146;s employment relationship (both as an employee
and independent contractor) with the Company and all Affiliates or such other
change in the Executive&#146;s employment relationship with the Company and all
Affiliates that would be considered a &#147;separation from service&#148; under Section
409A of the Code.&#160; The Executive&#146;s
employment relationship will be treated as remaining intact while the Executive
is on a military leave, a sick leave or other bona fide leave of absence
(pursuant to which there is a reasonable expectation that the Executive will
return to perform services for the Company or an Affiliate) but only if the
period of such leave does not exceed six (6) months, or if longer, so long as
the Executive retains a right to reemployment by the Company or an Affiliate
under applicable statute or by contract, provided, however, where the Executive&#146;s
leave is due to any medically determinable physical or mental impairment that
can be expected to result in death or can be expected to last for a continuous
period of not less than six (6) months and such impairment causes the Executive
to be unable to perform the duties of his or her position of employment or any
substantially similar position of employment, a twenty-nine (29) month period
of absence may be substituted for such six (6) month period of absence.&#160; In all cases, the Executive&#146;s Termination of
Employment must constitute a &#147;separation from service&#148; under Section 409A of
the Code and any &#147;separation from service&#148; under Section 409A of the Code shall
be treated as a Termination of Employment.</font></h1>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-5</font></p>
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