June 28, 2007Horizon Lines, Inc. • July 3rd, 2007 • Water transportation
In exchange for the termination of your employment agreement with the Company dated July 7, 2004 (the “Employment Agreement”) without the payment of any severance amount or any other amounts thereunder and in consideration of your agreements contained in this letter, Horizon Lines, Inc. (the “Company”) hereby grants to you 75,965 shares of common stock of the Company, par value $.01 per share (the “Company Stock”), as of June 28, 2007, subject to the terms set forth in this letter agreement and in the Horizon Lines, Inc. Amended and Restated Equity Incentive Plan (the “Plan”).
