ITEM 1.01 - ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

On November 29, 2012, Arkansas Best Corporation (Nasdaq: ABFS) ("the Company") amended its Letter of Credit Agreement ("the Agreement"), dated December 8, 2009, as amended by renewal letters dated December 6, 2010 and November 15, 2011, with PNC Bank, National Association ("the Bank"). A copy of the amendment, which extends the expiration date of the Agreement from December 7, 2012 to December 7, 2013, will be filed as an exhibit to the Company's 2012 Report on Form 10-K.

The Agreement provides for a $35.0 million committed revolving letter of credit under which the Company may request and the Bank will issue standby letters of credit. The Company issues letters of credit primarily in support of workers' compensation and third-party casualty claims liabilities in various states in which the Company is self-insured. The Company pays quarterly fees to the Bank, based on the amount of letters of credit outstanding. The Agreement contains no financial ratios or financial covenants which the Company is required to maintain. The Agreement requires cash or short-term investments to be pledged as collateral for outstanding letters of credit.

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