COVENENT TRANSPORT, INC.
2006 OMNIBUS INCENTIVE PLAN
1. Grant of Option . This Award Notice serves to notify you that Covenant Transport, Inc., a Nevada
corporation (the “ Company ”), hereby grants to you, under the Company’s 2006 Omnibus Incentive Plan (the “
Plan ”), an option (the “ Option ”) to purchase, on the terms and conditions set forth in this Award Notice and the
Plan, up to the number of shares set forth above (the “ Option Shares ”) of the Company’s Class A Common
Stock, par value $0.01 per share (the “ Common Stock ”), at the price per Share set forth above. It is the
Company’s intention that the Option qualify as an incentive stock option, as defined in Section 422 of the Code
to the extent possible. To the extent the entire Option will not so qualify (for example because the value of the
portion of the Option first vesting in any year exceeds the dollar limitation for incentive stock options) then the
maximum portion of the Option (each year) shall be deemed an incentive stock option and the remainder shall be
deemed a non-qualified stock option. The Plan is incorporated herein by reference and made a part of this
Award Notice. A copy of the Plan is available from the Company’s Chief Financial Officer upon request. You
should review the terms of this Award Notice and the Plan carefully.
Term . Unless the Option is previously terminated pursuant to the terms of the Plan, the Option
will expire at the close of business on the expiration date set forth above (the “ Expiration Date ”).
Vesting . Subject to the terms and conditions set forth in this Award Notice and the Plan, the
Option will vest and become exercisable commencing on _______, in accordance with the following schedule:
TYPE OF AWARD:
Incentive Stock Option (See below and refer
to the Plan and your Section 10(a) prospectus
NUMBER OF SHARES:
EXERCISE PRICE PER SHARE: