HUB GROUP INC
EX-10.1, PURCHASE OPTION CONTRACT
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<DESCRIPTION>EX-10.1, PURCHASE OPTION CONTRACT
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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>PURCHASE OPTION AND
RIGHT OF FIRST REFUSAL AGREEMENT</B> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
PURCHASE OPTION AND RIGHT OF FIRST REFUSAL AGREEMENT, dated as of November 11, 2004 (the
&#147;Agreement&#148;), is by and among HUB GROUP DISTRIBUTION SERVICES, LLC, a Delaware
limited liability company (the &#147;Company&#148;), HUB GROUP, INC., a Delaware
corporation (&#147;Parent&#148;), and HGDS ACQUISTION LLC, a Delaware limited liability
company (&#147;Acquisition Co.&#148;), and in consideration of good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS,
the Company is an indirect wholly owned subsidiary of Parent; </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, William
J. McKenna, an individual (&#147;McKenna&#148;), is the sole owner of Acquisition Co. as
of the date hereof, and has agreed to serve as the President of the Company; and </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS,
the Company desires to grant Acquisition Co. certain rights with respect to the purchase
of all or substantially all of the assets of the Company (the &#147;Company Assets&#148;),
and Acquisition Co. desires to receive such rights. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW,
THEREFORE, in consideration of the mutual covenants and agreements set forth below, it is
hereby covenanted and agreed by the parties as follows: </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Option Period.</U> The rights granted by the Company to Acquisition Co. hereunder
          shall be in effect for a period (the &#147;Option Period&#148;) commencing on
          November 11, 2004, and shall expire and be of no further force or effect on the
          earlier to occur of (i) March 31, 2007, and (ii) the date on which
          McKenna&#146;s employment with the Company is terminated; provided, however,
          that if McKenna&#146;s employment with the Company is terminated for the reasons
          described in paragraphs 4(b)(i) (continuous failure to substantially perform
          duties), 4(b)(vi) (failure to comply with Compliance Guidelines), 4(b)(vii)
          (failure to reach agreement on Compliance Guidelines), 4(c) (Termination for
          Death or Disability), 4(f) (termination by Executive for Good Reason) or 4(d)
          (Termination by the Company for Reasons Other than Cause) of McKenna&#146;s
          employment agreement with the Company, then, (A) with respect to the Option, the
          Option Period shall continue for the 90-day period following McKenna&#146;s
          termination date and (B) with respect to the Right (as defined below), the
          Option Period shall continue for the 180-day period following McKenna&#146;s
          termination date. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Purchase Option.</U> </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          Parent and the Company hereby grant to Acquisition Co. the exclusive (except as
          set forth herein) option (the &#147;Option&#148;) to purchase the Company
          Assets, subject to and upon the following terms and conditions and in accordance
          with the terms and conditions of a mutually acceptable purchase agreement among
          Parent, the Company and Acquisition Co. (the &#147;Contract&#148;). The Option
          may be exercised by Acquisition Co. by delivering written notice to the Company
          at any time during the Option Period (the &#147;Exercise Notice&#148;)
          specifying that Acquisition Co. is exercising the Option pursuant to this
          Agreement. Acquisition Co., Parent and the Company shall use reasonable good
          faith efforts to close the transaction within a reasonable time after receipt of
          the Exercise Notice, but not later than sixty (60) days after notice is given.
          The closing shall be conducted in accordance with the terms of the Contract. If
          the closing does not occur during such sixty (60) day period, then the Option
          shall expire and be of no further force or effect. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          The consideration to be paid by Acquisition Co. for the Company Assets shall
          consist of (i) the assumption by Acquisition Co. of certain liabilities of the
          Company as set forth in the Contract and (ii) the payment by Acquisition Co. of
          a cash purchase price (the &#147;Agreed Purchase Price&#148;) in the amount of
          $11,300,000, less or plus (A) the amount (if any) by which the Working Capital
          (as defined below) of the Company as of the closing date is less (more) than
          $2,800,000, and (B) the amount (if any) by which the net amount of property,
          plant and equipment as of the closing date is less (more) than $1,500,000, in
          each case, calculated in a manner consistent with the Company&#146;s past
          practices. The Agreed Purchase Price shall be paid by wire transfer or delivery
          of other immediately available funds on the closing date specified in the
          Contract. For purposes of this Agreement, &#147;Working Capital&#148; shall mean
          the current assets of the Company less the current liabilities of the Company
          (excluding intercompany debt). </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          If Acquisition Co. fails to timely deliver the Exercise Notice in accordance
          with this Agreement, then (i) the Option shall, without further action of any
          party, automatically terminate and thereafter be null and void and of no further
          force or effect and (ii) neither party shall have any further rights or
          obligations hereunder or with respect to the Option. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Right of First Refusal.</U> </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          If, during the Option Period, (A) either the Company or Parent receives an offer
          from a third party to purchase the Company Assets (regardless of the price) and
          (B) Parent desires to accept such offer, then the Company or Parent (as
          applicable) shall deliver a copy of the letter of intent with respect to such
          proposed sale, or, if such letter of intent is not in existence or disclosure is
          not permitted, written notice of the proposed sale (the &#147;Notice of
          Offer&#148;) to Acquisition Co. within five (5) business days of the date that
          the Company received the offer. The Notice of Offer shall specify (i) the
          proposed purchaser; (ii) the proposed purchase price; (iii) the assets proposed
          to be purchased and the liabilities proposed to be assumed; and (iv) all other
          terms and conditions of such proposed sale (e.g. payments terms, holdback
          amounts, purchase price adjustments, proposed closing date, etc.). The Notice of
          Offer shall, subject to paragraph (d) below, constitute an offer</FONT></P>

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           by the Company
          to sell the Company Assets to Acquisition Co. at (y) the proposed purchase
          price, if such price is less than the Agreed Purchase Price, or (z) the Agreed
          Purchase Price, if the proposed purchase price is more than the Agreed Purchase
          Price. In addition, if the Company or Parent receives an offer from a third
          party to purchase the Company Assets and Parent does not desire to accept such
          offer, the Company or Parent (as applicable) shall promptly notify Acquisition
          Co. of the receipt of such offer and provide it with information similar to the
          information included in the Notice of Offer; provided, however, that such
          notification shall not constitute the delivery of a Notice of Offer and
          Acquisition Co. shall not have the right to purchase the Company Assets pursuant
          to the terms of such an offer. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          Acquisition Co. shall have the right (the &#147;Right&#148;) for a period ending
          on the first day which is five (5) business days following Acquisition
          Co.&#145;s receipt of the Notice of Offer, to elect to purchase the Company
          Assets at the price set forth in Section 3(a) above, subject to the terms and
          conditions set forth in this Agreement and in accordance with the terms and
          conditions of the Contract. The Right shall be exercised by Acquisition Co., if
          at all, by delivering a letter of intent to the Company stating that it is
          electing to purchase the Company Assets pursuant to this Agreement and in
          accordance with the terms and conditions of the Contract (the &#147;Letter of
          Intent&#148;). In the event that Acquisition Co. delivers the Letter of Intent
          to the Company, the Company shall work exclusively with Acquisition Co. to
          consummate the sale of the Company Assets for the 60-day period following
          delivery. In the event that Acquisition Co. does not deliver the Letter of
          Intent during such five-day (5) period, it shall be deemed to have declined to
          purchase the Company Assets. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          If Acquisition Co. exercises the Option by delivering the Letter of Intent,
          Parent, the Company and Acquisition Co. shall use reasonable good faith efforts
          to close the transaction within a reasonable time after receipt of the Letter of
          Intent, but not later than sixty (60) days after notice is given. The closing
          shall be conducted in accordance with the terms of the Contract. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          If Acquisition Co. does not elect to purchase all of the Company Assets or if
          the closing does not occur within sixty (60) days after delivery of the Letter
          of Intent, then the Company (i) shall be under no obligation to sell the Company
          Assets and (ii) may sell the Company Assets to the proposed purchaser in the
          Notice of Offer (the &#147;Third Party Purchaser&#148;). In the event that the
          Company consummates a sale of the Company Assets to the Third Party Purchaser,
          the Company will promptly pay to Acquisition Co. 50% of the portion (if any) of
          the consideration actually received by the Company from such Third Party
          Purchaser that exceeds the Agreed Purchase Price. For purposes of clarification,
          any other third party offer will be subject to the Right of First Refusal set
          forth in this Section 3 during the Option Period. If such sale to the Third
          Party Purchaser is not consummated within (A) seventy five (75) days after
          delivery of the Notice of Offer to Acquisition Co., in the event that
          Acquisition Co. does not exercise its Right, or (B) one hundred and thirty five
          (135) days after delivery of the Letter of Intent to the Company, in the event
          that Acquisition Co. exercises its Right but fails to close within sixty (60)
          days, such sale will again become subject to the Right of First Refusal set
          forth in this Section 3. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Filings, Consents and Approvals.</U> Notwithstanding anything to the contrary
          herein, if, with respect to any purchase of Company Assets pursuant to this
          Agreement, any filings, consents or approvals by any governmental entities are
          required to consummate such transaction, the Company and Acquisition Co. shall
          cooperate to promptly make and prosecute such filings and obtain such consents
          and approvals, and the closing of any such transaction shall not be required to
          occur any earlier than the date which is five business days after all such
          filings and approvals have been made or obtained (or that any relevant waiting
          periods have expired). </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>No Shop.</U> Except as may be required by law, during the Option Period, neither
          Parent, nor the Company, nor any of their respective representatives shall
          solicit or initiate discussions or negotiations with any person other than
          Acquisition Co. relating to the possible acquisition of the Company (whether by
          way of merger or consolidation, purchase of capital stock, purchase or lease of
          assets or otherwise) or of any portion of the capital stock or assets (excluding
          sales of assets in the ordinary course of business) of the Company. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>No Representations and Warranties.</U> The Company makes no representations or
          warranties herein with respect to the Company Assets. </FONT></P>








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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Acquisition Co.</U> Acquisition Co. represents and warrants that, as of the date
          hereof, McKenna &#147;controls&#148; (as defined below) Acquisition Co. In the
          event of a &#147;change of control&#148; (as defined below) of Acquisition Co.,
          or of any of its permitted successors and assigns pursuant to Section 8 below,
          this Agreement shall immediately terminate and the rights granted hereunder,
          including, without limitation, the Option and the Right, shall be void and of no
          further force and effect. For purposes of this Agreement, (i) the term
          &#147;control&#148; or &#147;controlled by&#148; means the beneficial ownership,
          directly or indirectly, of more than 50% of the equity interests of such entity,
          measured by voting power rather than number of shares, and (ii) the term
          &#147;change of control&#148; with respect to McKenna, Acquisition Co. and any
          of its permitted successors or assigns means the consummation of any transaction
          (including without limitation, any merger or consolidation) the result of which
          is that any person other than McKenna becomes the beneficial owner, directly or
          indirectly, of more than 50% of the equity interests of such entity, measured by
          voting power rather than number of shares. </FONT></P>





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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Option Not Assignable.</U> This Agreement and any interest in and to the same
          (including, without limitation, the Option and the Right) may not be assigned by
          Acquisition Co. in whole or in part without the prior written consent of the
          Company (which consent shall be at the Company&#146;s sole and absolute
          discretion). Notwithstanding the foregoing, after prior written notice to the
          Company, Acquisition Co. may assign its rights hereunder to another entity
          &#147;controlled by&#148; (as defined above) McKenna; provided that the change
          of control provisions in
Section 7 above shall be applicable to such assignee
          for the duration of the Option Period. This Agreement, and the rights granted
          hereunder, shall survive a change of control of Parent or the departure from
          Parent of Mark Yeager and David Yeager. </FONT></P>


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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Notices.</U> Notices provided for in this Agreement shall be in writing and shall be
          deemed to have been duly received when delivered in person or sent by facsimile
          transmission, on the first business day after it is sent by air express courier
          service or on the second business day following deposit in the United States
          registered or certified mail, return receipt requested, postage prepaid and
          addressed as follows: </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in
the case of the Company: </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hub
Group Distribution Services, LLC<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c/o Hub Group, Inc.<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3050 Highland Parkway, Suite 100<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Downers Grove, Illinois 60515-5543<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fax: (630) 964-6475<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Attn:</FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in
the case of Acquisition Co.: </FONT></P>
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
WIlliam J. McKenna<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329 Albion Avenue<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Woodside, CA 94062<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Fax: (650) 618-1952</FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>or such other address as either party
may have furnished to the other in writing in accordance herewith, except that a notice of
change of address shall be effective only upon actual receipt. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Benefit.</U> Subject to the limitations on assignment, this Agreement shall be
          binding upon and inure to the benefit of the Company, Parent and Acquisition Co.
          and their respective heirs, executors, administrators, successors and permitted
          assigns. This Agreement is not intended to give or confer any benefits, rights,
          privileges, claims, actions or remedies to any person or entity as a third party
          beneficiary. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>No Merger.</U> The terms and provisions of this Agreement shall survive the entry,
          and shall not merge or be deemed to merge, into the Contract. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Conflicts.</U> In the event of a conflict between the terms of this Agreement and
          the terms of the Contract, the terms of this Agreement shall govern and control. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Entire Agreement.</U> This Agreement (including the Contract) constitutes the sole
          and entire agreement between Acquisition Co. and the Company respecting the
          Option, the Right, the Company Assets and the transaction described herein, and
          supersedes all prior agreements, representations, drafts, negotiations and
          communications, written or oral, of any kind. Neither this Agreement nor any
          provision hereof or of the Contract may be modified, supplemented, extended,
          amended, waived, discharged or terminated orally, but only by a written
          instrument signed by the parties against which enforcement is sought. </FONT></P>




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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Waiver of Breach.</U> The waiver by either the Company or Acquisition Co. of a
          breach of any provision of this Agreement shall not operate as or be deemed a
          waiver of any subsequent breach by either the Company or Acquisition Co.. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Severability.</U> It is mutually agreed and understood by the parties that should
          any of the agreements and covenants contained herein be determined by any court
          of competent jurisdiction to be invalid by virtue of being vague or
          unreasonable, then the parties hereto consent that this Agreement shall be
          amended retroactive to the date of its execution to include the terms and
          conditions said court deems to be reasonable and in conformity with the original
          intent of the parties and the parties hereto consent that under such
          circumstances, said court shall have the power and authority to determine what
          is reasonable and in conformity with the original intent of the parties to the
          extent that said covenants and/or agreements are enforceable. </FONT></P>


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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Applicable Law.</U> This Agreement shall be construed in accordance with the laws of
          the State of Illinois. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Amendment.</U> This Agreement may be amended or cancelled by mutual Agreement of the
          parties in writing without the consent of any other person. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Counterparts.</U> This Agreement may be executed in any number of counterparts, each
          of which when so executed and delivered shall be an original, but all such
          counterparts shall together constitute one and the same instrument. Each
          counterpart may consist of a copy hereof containing multiple signature pages,
          each signed by one party hereto, but together signed by both of the parties
          hereto. </FONT></P>




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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN
WITNESS WHEREOF, the parties hereto have executed this Purchase Option and Right of First
Refusal Agreement as of the date first above written. </FONT></P>

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     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>HUB GROUP DISTRIBUTION SERVICES, LLC</B></FONT></TD></TR>
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     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD></TR>

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     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>By:/s/ David P. Yeager</U></FONT></TD></TR>

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     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Name:  David P. Yeager</FONT></TD></TR>
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     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Title:&nbsp;&nbsp;&nbsp;Vice Chairman and</FONT></TD></TR>
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     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Executive Officer</FONT></TD></TR>
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     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>HUB GROUP, INC. </B></FONT></TD></TR>
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     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD></TR>

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     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>By:/s/ David P. Yeager</U></FONT></TD></TR>

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     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Name:  David P. Yeager</FONT></TD></TR>
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     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Title:&nbsp;&nbsp;&nbsp;Vice Chairman and</FONT></TD></TR>
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     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Executive Officer</FONT></TD></TR>
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     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
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     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>HGDS ACQUISITION LLC</B></FONT></TD></TR>
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     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD></TR>

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     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>By: /s/ William J. McKenna</U></FONT></TD></TR>

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     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Name:&nbsp;&nbsp;William J. McKenna</FONT></TD></TR>
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     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Title:&nbsp;&nbsp;&nbsp;&nbsp;Sole Member</FONT></TD></TR>

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