What does the modified agreement ratified in August include?
A. In addition to a 5 percent incremental wage reduction, the agreement includes an 18-month cessation of union pension fund contributions, which will not require repayment at a later date. In exchange, our Teamsters employees will receive options for 20 percent of the outstanding shares of YRC Worldwide stock, pending shareholder approval. This will allow them to further share in future company performance through stock price appreciation.
