Attached files
Exhibit
10.3
SUMMARY
OF COMPENSATION ARRANGEMENTS WITH NAMED EXECUTIVE OFFICERS
On
October 28, 2009, the Executive Compensation Committee of J.B. Hunt Transport
Services, Inc. (the “Company”) approved the following base salaries for David
Mee, Craig Harper and Paul Bergant. Also, on October 28, 2009, the
Compensation Committee of the Company recommended and independent members of the
Board of Directors approved the following base salaries for Wayne Garrison and
Kirk Thompson. All base salaries were effective as of October 30,
2009. The Compensation Committee approved the following other
compensation amounts (effective January 1, 2010) as indicated:
|
Named Executive Officer
|
Base
Salary
|
Bonus
($)
|
All
Other
Compensation
($)
|
|||||||||
|
Wayne
Garrison
|
||||||||||||
|
Chairman
of the Board
|
$ | 530,000 | (1 | ) | (2 | ) | ||||||
|
Kirk
Thompson
|
||||||||||||
|
President
and CEO
|
$ | 695,000 | (1 | ) | (2 | ) | ||||||
|
David
Mee
|
||||||||||||
|
EVP,
Finance/Administration
and CFO
|
$ | 287,400 | (1 | ) | (2 | ) | ||||||
|
Craig
Harper
|
||||||||||||
|
EVP,
Operations and COO
|
$ | 360,000 | (1 | ) | (2 | ) | ||||||
|
Paul
Bergant
|
||||||||||||
|
EVP,
Marketing, CMO, President of JBI
|
$ | 345,000 | (1 | ) | (2 | ) | ||||||
|
(1)
|
The
Company has a performance-based bonus program that is related to the
Company’s earnings per share (EPS) for calendar year
2010. According to the 2010 EPS bonus plan, each of the
Company’s named executive officers may earn a bonus ranging from zero to
220% of his annual base salary. Based on the Company’s current
expectations for 2010 EPS, each named executive officer can be projected
to earn a bonus equal to between zero and 50% of his base
salary.
|
|
(2)
|
The
Company will reimburse each named executive officer up to $10,000 for
actual expenses incurred for legal, tax and estate plan preparation
services.
|