Exhibit 10.1
Modifications of Compensation
Arrangements with Named Executive Officers
This exhibit summarizes the actions of the Compensation
Committee taken at a meeting concluded on November 28, 2005
modifying the compensation arrangements with the Company's Chief
Executive Officer and the Company's other four most highly
compensated officers (collectively, the "named executive
officers") (determined based on fiscal 2005) relating to base
salaries for the 2006 calendar year, bonuses under the Management
Incentive Compensation ("MIC Plan") for the 2005 fiscal year and
the MIC Plan performance objectives and potential bonuses for the
named executive officers. The Company will provide additional
information regarding the compensation paid to the named
executive officers for the 2005 fiscal year in the Company's
proxy statement for the next annual meeting of shareholders,
which is expected to be filed with the SEC in December 2005.
The following table sets forth, for each of the named
executive officers (i) their base salaries for calendar year
2006, (ii) the amount of the bonus earned under the MIC Plan for
fiscal 2005, (iii) the maximum bonus (expressed as a percentage
of base salary) which the named executive officer is eligible to
earn for fiscal 2006, and (iv) the general criteria on which the
individual goals and objectives for the named executive officer
are based.
2006 Maximum 2006 Basis for
Named Calendar MIC Award as Individual
Executive Year Base 2005 MIC a % of Base Goals and
Officer Salary Bonus Salary Objectives
------- ------ ----- ------ ----------
<s> <c> <c> <c> <c>
John E. Anderson $360,000 $330,577 100% Transportation
President and CEO Group Return on
Capital Employed;
Achievements of
Transportation
Safety Objectives;
Sarbanes-Oxley
Section 404
Compliance; and
Achievement of
Specified
Milestones and
Financial Targets
in Real Estate
Group
David H. deVilliers $278,510 $241,020 100% Achievement of
Vice President Specified
Milestones and
Financial Targets
in Real Estate
Group
Terry S. Phipps $135,000 $78,000 60% Return on Captial
President of Sunbelt Employed and
Transport, Inc. Achievement of
of Safety
Objectives
Robert E. Sandlin $180,350 $105,060 60% Return on Capital
President of Employed and
Florida Rock & Achievement of
Tank Lines, Inc. Safety Objectives
Ray M. Van Landingham $154,500 $90,000 60% Sarbanes-Oxley
Vice President Section 404
and CFO Compliance; and
Achievement of
Specified
Milestones and
Financial Targets
in Real Estate
Group; and
Transportation
Group Return on
Capital Employed
</table>