(b) As previously announced, Mr. Rodney L. Bell retired from his position as Senior Vice President and Chief Financial Officer of Forward Air Corporation (the “Corporation”), effective March 17, 2017. In connection with his retirement, on March 24, 2017, the Corporation and Mr. Bell entered into a Retirement and Release Agreement (the “Agreement”) that specifies the terms of his retirement from the Corporation and the benefits he is eligible to receive. Subject to his compliance with the post-separation covenants set forth in the Agreement, Mr. Bell will receive (i) a lump sum severance payment of $367,110, (ii) a pro-rata annual incentive for the 2017 fiscal year in the amount of $68,830, payable in a lump sum, (iii) a healthcare assistance payment in the amount of $16,300 and (iv) outplacement services not to exceed $20,000 in value, which benefits are consistent with the benefits provided by the Corporation’s Executive Severance and Change in Control Plan. In addition, under the Agreement, Mr. Bell provided a general release and waiver of claims against the Corporation and is subject to certain restrictive covenants, including confidentiality, non-competition, non-solicitation and non-disparagement.

About FORWARD AIR CORPORATION (NASDAQ:FWRD)

Forward Air Corporation offers services, which are classified into three segments: Forward Air, Forward Air Solutions (FASI) and Total Quality (TQI). The Company, through its three segments, offers a range of logistic and other services, including expedited full truckload (TLX), pick-up and delivery (Forward Air Complete), pool distribution, temperature-controlled truckload, warehousing, customs brokerage and shipment consolidation and handling. The Forward Air segment provides time-definite transportation and related logistics services to the North American deferred air freight market. The FASI segment provides pool distribution services through a network of terminals and service locations in over 30 cities throughout the Mid-Atlantic, Southeast, Midwest and Southwest continental United States. The TQI segment provides security and temperature-controlled logistics services, primarily truckload services, to the pharmaceutical and other life science industries.

FORWARD AIR CORPORATION (NASDAQ:FWRD) Recent Trading Information

FORWARD AIR CORPORATION (NASDAQ:FWRD) closed its last trading session down -0.37 at 46.74 with 92,972 shares trading hands.