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Title: |
Confirmation |
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Date: |
2003 |
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Preview shows 5KB of 25KB total |
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$38 |
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ID: |
#355797 |
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(BANK ONE LETTERHEAD)
CONFIRMATION
dated as of June 5, 2003
Bank One Deal #46308/09
J.B. HUNT, LLC
611 West Bowen Boulevard
Fayetteville, AR 72703
Telephone: (479) 444-0700
Facsimile: (479) 444-7570
Ladies and Gentlemen:
We are pleased to confirm the terms of the transaction described below
between J.B. HUNT, LLC ("Counterparty") and BANK ONE, NA (CHICAGO) ("Bank One").
The definitions and provisions contained in the 1996 ISDA Equity
Definitions and the 2000 ISDA Definitions, as published by the International
Swaps and Derivatives Association, Inc., are incorporated into this
Confirmation. Inconsistencies between the definitions and this Confirmation
shall be resolved in the following order: (1) this Confirmation, (2) 1996 ISDA
Equity Definitions, and (3) 2000 ISDA Definitions.
This Confirmation supplements, forms a part of, and is subject to, the
ISDA Master Agreement dated as of January 14, 2002, as amended and supplemented
from time to time (the "Agreement"), between you and us. All provisions
contained in the Agreement govern this Confirmation except as expressly
modified below.
A. GENERAL TERMS
Type of Transaction: Share Forward Transaction
Trade Date: May 28, 2003
Effective Date: May 30, 2003
Calculation Agent: Bank One
Seller: Counterparty
Buyer: Bank One
Shares: Voting common stock of the Issuer
(Exchange Symbol: JBHT)
{PAGE}
Issuer: J.B. Hunt Transport Services, Inc.
Number of Shares: 34,300
Aggregate Number of Shares: 343,000
Forward Price: Determined pursuant to Settlement Terms as
provided below.
Lower Price: $32.01
Upper Price: $48.14
Exchange: The Nasdaq Stock Market Inc.
Valuation:
Valuation Time: The close of trading on the Exchange on the
Valuation Date.
Valuation Date: Each of the ten (10) consecutive Exchange Business
Days commencing on May 30, 2008.
Settlement Terms:
Cash Settlement: Applicable, unless Counterparty elects Physical
Settlement as provided below.
Settlement Currency: U.S. Dollars
Settlement Price: With respect to each Valuation Date, the price
equal to the closing sale price of a Share on the
Exchange on the Valuation Date. If no closing sale
price is reported, then the Calculation Agent
shall determine the market value, and may use, but
not be limited to, the average of the inside bid
and asked price per Share quoted by the Exchange
at the Valuation Time on the Valuation Date
without regard to extended trading hours.
Settlement Date: Three (3) Exchange Business Days after the
relevant Valuation Date.
Cash Settlement Amount: An amount, as calculated by the Calculation Agent
for each Valuation Date, as follows:
(a) If the Settlement Price is less than the Lower
Price, an amount equal to the product of the
Number of Shares multiplied by (Lower Price -
Settlement Price);
2
{PAGE}
(b) If the Settlement Price is greater than
the Upper Price, an amount equal to the
product of the Number of Shares multiplied by
(Settlement Price - Upper Price);
(c) If the Settlement Price is greater than
the Lower Price but less than the Upper
Price, then the Cash Settlement Amount will
be zero.
Cash Settlement Amount Payer: If the Settlement Price is less than the
Lower Price, then Buyer will pay Seller the
Cash Settlement Amount on the Settlement
Date. If the Settlement Price is greater than
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