the goodyear tire & rubber company arkansas best corporation and treadco, inc

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THE GOODYEAR TIRE & RUBBER COMPANYARKANSAS BEST CORPORATIONANDTREADCO, INC.

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EXECUTION COPY

JOINT VENTURE AGREEMENT

DATED AS OF SEPTEMBER 13, 2000

BY AND AMONG

THE GOODYEAR TIRE & RUBBER COMPANY,

ARKANSAS BEST CORPORATION

AND

TREADCO, INC.

2

TABLE OF CONTENTS

Page No. -------- ARTICLE I DEFINITIONS........................................................................... 4

ARTICLE II ORGANIZATION OF WINGFOOT..............................................................12 2.1 Organization of Wingfoot..............................................................12 2.2 Closing Balance Sheets................................................................12 2.3 Adjustment to Membership Interests....................................................13 2.4 Closing...............................................................................13 2.5 Corporate Offices.....................................................................13

ARTICLE III TERMS OF THE TRANSACTION..............................................................14 3.1 Treadco's Contribution of Assets and Liabilities......................................14 3.2 Goodyear's Contribution of Assets and Liabilities.....................................16 3.3 Real Property Fees and Expenses.......................................................17

ARTICLE IV BUY AND SELL OPTIONS..................................................................18 4.1 Sell and Purchase Options.............................................................18

ARTICLE V REPRESENTATIONS AND WARRANTIES OF ABC AND TREADCO.....................................20 5.1 Organization..........................................................................20 5.2 Authority; Execution and Enforceability...............................................20 5.3 No Violation or Breach................................................................20 5.4 Brokers and Finders...................................................................21 5.5 Financial Statements..................................................................21 5.6 Contributed Assets....................................................................21 5.7 Consents; Filings.....................................................................22 5.8 Actions and Proceedings...............................................................22 5.9 Taxes and Tax Returns.................................................................22 5.10 Real Property.........................................................................23 5.11 Intellectual Property.................................................................25 5.12 Software..............................................................................25 5.13 Compliance with Legal Requirements....................................................25 5.14 Material Contracts....................................................................26 5.15 Insurance.............................................................................26 5.16 Guarantees............................................................................27 5.17 Notes and Accounts Receivable.........................................................27 5.18 Inventory.............................................................................27 5.19 Undisclosed Liabilities...............................................................27 5.20 Conduct of Business...................................................................27 5.21 Labor Matters.........................................................................28 5.22 Books and Records.....................................................................29 5.23 Projections and Forecasts.............................................................29 5.24 Exclusivity of Representations........................................................29

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ARTICLE VI REPRESENTATIONS AND WARRANTIES OF GOODYEAR............................................30 6.1 Organization..........................................................................30 6.2 Authority; Execution and Enforceability...............................................30 6.3 No Violation or Breach................................................................30 6.4 Brokers and Finders...................................................................30 6.5 Contributed Assets....................................................................31 6.6 Consents; Filings.....................................................................31 6.7 Actions and Proceedings...............................................................31 6.8 Taxes and Tax Returns.................................................................31 6.9 Real Property.........................................................................32 6.10 Intellectual Property.................................................................34 6.11 Software..............................................................................35 6.12 Compliance with Legal Requirements....................................................35 6.13 Material Contracts....................................................................35 6.14 Guarantees............................................................................36 6.15 Notes and Accounts Receivable.........................................................36 6.16 Inventory.............................................................................36 6.17 Undisclosed Liabilities...............................................................36 6.18 Conduct of Business...................................................................36 6.20 Labor Matters.........................................................................37 6.21 Books and Records.....................................................................38 6.22 Projections and Forecasts.............................................................38 6.23 Tax Status of Wingfoot................................................................38 6.24 Exclusivity of Representations........................................................38

ARTICLE VII COVENANTS.............................................................................39 7.1 Covenants of Treadco and ABC..........................................................39 7.2 Covenants of Goodyear.................................................................40 7.3 Covenants of the Parties..............................................................41 7.4 Real Property.........................................................................43 7.5 Nonassignable Contracts and Rights....................................................43

ARTICLE VIII DELIVERIES AT CLOSING.................................................................44 8.1 Deliveries by Goodyear................................................................44 8.2 Deliveries by Treadco.................................................................45

ARTICLE IX CONDITIONS TO CLOSING.................................................................47 9.1 Conditions to Closing.................................................................47

ARTICLE X ENVIRONMENTAL MATTERS.................................................................47 10.1 Environmental, Health and Safety Matters..............................................47 10.2 Environmental Liabilities.............................................................49

ARTICLE XI SPECIAL CLAIMS........................................................................49 11.1 Warranty Services.....................................................................49

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11.2 Treadco Workers Compensation, Property and Personal Injury Claims.....................49 11.3 Goodyear Workers Compensation, Property and Personal Injury Claims....................50

ARTICLE XII INDEMNIFICATION.......................................................................50 12.1 Survival of Indemnification...........................................................50 12.2 Indemnification by Goodyear...........................................................50 12.3 Indemnification by Treadco............................................................50 12.4 Exceptions and

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