Roadway Express announces innovative incentive stock plan for union employees

Business Wire, March 29, 1996

AKRON, Ohio--(BUSINESS WIRE)--March 29, 1996--Roadway Express, Inc. today announced that it worked with the International Brotherhood of Teamsters to implement an unprecedented stock incentive plan covering the motor carrier's 18,000 Teamster members. Through incentive-based distributions of Roadway Express stock, the Roadway Express Union Stock Plan will reward bargaining unit employees who contribute to a safe, reliably-staffed and injury-free work environment. No concessions are being sought by the Company.

Based on its 1996 performance, as measured by operating profit margin, the Company will contribute shares of Roadway Express stock to a trust fund. Eligible participants who remain accident-free, injury-free and have less than five unexcused absences during the calendar year will receive individual distributions of stock from that fund. All full-time, regular, Roadway Express bargaining-unit employees on active status as of April 1, 1996 are eligible to participate in the plan.

Michael W. Wickham, President and CEO of Roadway Express explained, "This plan will reward employees who contribute to the reliability of our product. The amount of Roadway Express stock awarded to each employee is contingent on our Company's profitability and the individual worker's performance. The plan was crafted with the help of Teamster union negotiators who recognize the value of Roadway and the Union working to achieve mutually defined and mutually beneficial goals."

Founded in 1930, Roadway Express is one of the nation's leading less-than-truckload (LTL) motor carriers, providing service in 2-day and beyond, national, regional and international markets. Headquartered in Akron, Ohio, this $2.29 billion, debt-free corporation is committed to offering the industry's most reliable, responsive and efficient transportation services between all 50 states, Canada and Mexico, plus export services to 65 countries on five continents.

CONTACT: Roadway Express, Inc., Akron

John Hyre, 330/258-6080