What was this all about?
ITEM 1.02 — TERMINATION OF A MATERIAL DEFINITIVE AGREEMENT
On May 31, 2012, a subsidiary of Arkansas Best Corporation (Nasdaq: ABFS) (the “Company”) notified SunTrust Robinson Humphrey, Inc.,
as Agent (the “Agent”), of the Company’s intention to terminate the $75.0 million Receivables Loan Agreement dated as of December 30,
2009 (as amended, supplemented or otherwise modified from time to time) among ABF Freight Funding LLC, the Borrower, ABF Freight
System, Inc., as initial Servicer, SunTrust Bank and the Agent (“the Agreement”). The Company will pay no penalties to terminate the
Agreement prior to the Agreement’s February 18, 2013 maturity date. There were no borrowings made during the term of the Agreement and
no outstanding borrowings under the Agreement on the date the Company delivered the notice of termination to the Agent. The effective date
of the termination of the Agreement will be June 15, 2012, at which time the Company expects to have in place a replacement facility with
substantially comparable terms.