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Document Preview Confirmation |
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Title: |
Confirmation |
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Date: |
2003 |
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Preview shows 7KB of 29KB total |
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$44 |
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ID: |
#355800 |
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[BANK1ONE LETTERHEAD]
CONFIRMATION
dated as of May 19, 2003
Bank One Deal # 46022/23
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
{Table}
{Caption}
Type of Transaction: Share Forward Transaction
{S} {C}
Trade Date: May 6, 2003
Effective Date: May 15, 2003
Calculation Agent: Bank One
Seller: Counterparty
Buyer: Bank One
Shares: Voting common stock of the Issuer (Exchange Symbol:
JBHT)
{/Table}
{PAGE}
{Table}
{S} {C}
Issuer: J. B. Hunt Transport Services, Inc.
Number of Shares: 28,882.9
Aggregate Number of Shares: 288,829
Forward Price: Determined pursuant to Settlement Terms as provided
below.
Lower Price: $31.30
Upper Price: $48.43
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 subsequent to May 15, 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);
{/Table}
2
{PAGE}
{Table}
{S} {C}
(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
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