Determination of 2013 Base Salaries and Executive Incentive Plan for Named Executive Officers
Effective February 20, 2013, the compensation committee of our board of directors approved the 2013 base salaries and 2013 executive incentive plan for our named executive officers, Mark A. DiBlasi, Peter R. Armbruster, Scott L. Dobak, and Brian J. van Helden. The 2013 base salary increases will be effective as of February 17, 2013. The compensation committee determined that our 2013 executive incentive plan for our named executive officers will be based on a company-wide EBIT (earnings before interest and taxes) goal that is consistent with our board-approved 2013 budget. In addition, a portion of the 2013 executive incentive plan for Messrs. Dobak and van Helden will be based on a business unit EBIT goal that is consistent with our board-approved 2013 budget. Actual cash bonus payouts for 2013 performance will be determined by our compensation committee and paid in early 2014, and may be above or below target bonus levels.
The table below lists the 2013 base salaries and cash bonus levels for each of our named executive officers.

                               2013                      Annual Incentive Bonus Levels as % of Base Salary
                               Base              80%                  90%                 100%                 150%
Name                          Salary        of Target (1)          of Target            of Target          of Target (2)
Mark A. DiBlasi           $    465,000             20 %                 40 %                 60 %                135 %
Peter R. Armbruster       $    285,000             15 %                 33 %                 50 %                100 %
Scott L. Dobak (3)        $    385,000             15 %                 33 %                 50 %                100 %
Brian J. van Helden (4)   $    300,000             15 %                 33 %                 50 %                100 %

(1) Represents the percentage of 2013 base salary that the executive is eligible to receive if we achieve 80% of the EBIT target established by our compensation committee. Bonuses will not be earned if EBIT is less than 80% of target.

(2) Represents maximum potential bonus payout.

(3) 20% of Mr. Dobak's cash bonus potential will be based on the EBIT of our less-than-truckload and transportation management solutions business units.

(4) 20% of Mr. van Helden's cash bonus potential will be based on the EBIT of our truckload and logistics business unit.

Grants of Restricted Stock Units
Effective February 20, 2013, the compensation committee of our board of directors approved the grant to our named executive officers of time-vest restricted stock units (RSUs) based on relevant compensation survey data and discussions with our third-party compensation consultant, Compensia, Inc. Our named executive officers were granted a specified dollar value of RSUs, with the specific number of RSUs calculated using the 20-day trailing average closing sales price for our common stock as of the grant date. Messrs. DiBlasi, Armbruster, Dobak, and van Helden received $375,000, $220,000, $250,000, and $220,000 of time-vest RSUs, respectively. Based upon the 20-day trailing average closing sales price for our common stock as of the grant date of $20.55, Messrs. DiBlasi, Armbruster, Dobak, and van Helden received 18,246, 10,704, 12,164, and 10,704 RSUs, respectively. On February 20, 2013, the closing sales price of our common stock was $23.26.
Each RSU is equal in value to one share of our common stock, and the RSUs vest 25% on each of March 1, 2014, 2015, 2016, and 2017. Recipients of RSU awards generally must remain employed by us on a continuous basis through the end of the relevant vesting period in order to receive any amount of the RSUs covered by that award, except that recipients may be entitled to accelerated delivery of a portion of unvested RSUs in the case of the recipient's death or disability, or upon a change in control.
The foregoing is a summary only and does not purport to be a complete description of all of the terms contained in the form of Restricted Stock Unit Agreement, and is subject to and qualified in its entirety by reference to the form of Restricted Stock Unit Agreement attached as Exhibit 10.20 to our Current Report on Form 8-K filed with the Securities and Exchange Commission on March 7, 2011 and incorporated by reference into this Item 5.02.

Effective February 20, 2013, the compensation committee of our board of directors approved grants of RSUs to our independent directors. The RSU grants are part of our previously disclosed plan to make equity-based awards to our independent directors in order to adjust director compensation levels to those customary for boards of directors for similarly situated companies. Effective February 20, 2013, we granted $50,000 of RSUs to each of our independent directors. Based upon the 20-day trailing average closing sales price for our common stock as of the grant date of $20.55, each of our independent directors received 2,433 RSUs. On February 20, 2013, the closing sales price of our common stock was $23.26.
Each RSU is equal in value to one share of our common stock, and the RSUs vest 25% on each of March 1, 2014, 2015, 2016, and 2017. Each director receiving RSU awards generally must remain a member of our board of directors through the end of the relevant vesting period in order to receive any amount of the RSUs covered by that award, except that recipients may be entitled to accelerated delivery of a portion of unvested RSUs in the case of the recipient's death or disability, or upon a change in control.
The foregoing is a summary only and does not purport to be a complete description of all of the terms contained in the form of Restricted Stock Unit Agreement, and is subject to and qualified in its entirety by reference to the form of Restricted Stock Unit Agreement attached as Exhibit 10.20 to our Current Report on Form 8-K filed with the Securities and Exchange Commission on March 7, 2011 and incorporated by reference into this Item 5.02.