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      FFEX Form 8-K Latest Events May 2006
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                STATES </font></div>
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                AND EXCHANGE COMMISSION</font></div>
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                DC 20549</font></div>
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                8-K</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">CURRENT
                REPORT</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Pursuant
                to Section 13&#160;or 15(d) of the Securities Exchange Act of 1934</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman">Date
                of
                Report:</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(Date
                of
                earliest event reported)</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman">May
                12,
                2006</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman">FROZEN
                FOOD EXPRESS INDUSTRIES, INC.</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(Exact
                Name of Registrant as Specified&#160;in its Charter)</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
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                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Texas</strong></font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(State
                          or Other Jurisdiction of Incorporation)</font></div>
                      </td>
                      <td width="10%">
                        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<strong>1-10006</strong></div>
                        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">COMMISSION
                          FILE NUMBER </font></div>
                      </td>
                      <td valign="top" width="30%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>75-1301831
                          </strong></font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(IRS
                          Employer Identification No.)</font></div>
                      </td>
                    </tr>
                    <tr>
                      <td valign="top" width="30%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>1145
                          Empire Central Place</strong></font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Dallas,
                          Texas 75247-4309</strong></font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(Address
                          of Principal Executive Offices)</font></div>
                      </td>
                      <td width="10%">&#160;</td>
                      <td valign="top" width="30%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>(214)
                          630-8090</strong></font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(Registrant's
                          telephone number, including area
                          code)</font></div>
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                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Check
                          the appropriate box below if the Form 8-K filing is intended
                          to
                          simultaneously satisfy the filing obligation of the registrant
                          under any
                          of the following provisions:</font></div>
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                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Wingdings">r</font></div>
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                          communications pursuant to Rule 425 under the Securities
                          Act (17 CFR
                          230.425)</font></div>
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                          material pursuant to Rule 14a-12 under the Exchange Act
                          (17 CFR
                          240.14a-12)</font></div>
                      </td>
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                      <td align="left" valign="top" width="3%">
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                          communications pursuant to Rule 14d-2(b) under the Exchange
                          Act (17 CFR
                          240.14d-2(b))</font></div>
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                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Pre-commencement
                          communications pursuant to Rule 13e-4(c) under the Exchange
                          Act (17 CFR
                          240.13e-4(c))</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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                  <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman">Page
                    1
                    of&#160; 3</font></div>
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              <div>&#160;</div>
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                        <td align="left" valign="middle" width="14%" style="border-bottom: black thin solid;">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>&#160;ITEM
                            1.01.&#160;&#160;&#160;</strong></font></div>
                        </td>
                        <td align="left" valign="middle" width="81%" style="border-bottom: black double;">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Entry
                            into a Material Definitive Agreement</strong></font></div>
                        </td>
                      </tr>
                      <tr>
                        <td align="left" valign="middle" width="14%">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                        </td>
                        <td align="left" valign="middle" width="81%">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
                                  <div align="left">
                                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">In
                                        connection with the appointment of Mr. Thomas
                                        G. Yetter as Senior Vice
                                        President and Chief Financial Officer of
                                        the Company as described below in
                                        Item 5.02, Frozen Food Express Industries,
                                        Inc. (the &#8220;Company&#8221;) entered
                                        into a Change in Control Agreement (the "Yetter
                                        Agreement&#8221;) and the
                                        compensation arrangements with Mr. Yetter
                                        described below in Item 5.02
                                        effective May 17, 2006.&#160; The form of the Yetter Agreement is
                                        substantially similar to the form of Change
                                        in Control Agreement entered
                                        into with the other executive officers of
                                        the Company that is attached as
                                        Exhibit 10.1 to the Company&#8217;s Current Report on Form 8-K filed on June
                                        28,
                                        2000, and is incorporated herein by reference.&#160; </font></div>
                                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">In
                                        connection with the appointment of Mr. Stoney
                                        R. ("Russell") Stubbs to the
                                        position of Senior Vice President and Chief
                                        Operating Officer as described
                                        below in Item 5.02, the Company entered into
                                        a the compensation
                                        arrangements with Mr. Stubbs described on
                                        Exhibit 99.2 to this Form 8-K
                                        effective May 17,
                                        2006.</font></div>
                                    </div>
                                  </div>
                                </div>
                              </div>
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                <div>
                  <table cellpadding="0" cellspacing="0" width="100%">

                      <tr>
                        <td align="left" valign="middle" width="14%" style="border-bottom: black thin solid;">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>&#160;ITEM
                            1.02.&#160;&#160;&#160;</strong></font></div>
                        </td>
                        <td align="left" valign="middle" width="81%" style="border-bottom: black double;">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Termination
                            of a Material Definitive Agreement</strong></font></div>
                        </td>
                      </tr>
                      <tr>
                        <td align="left" valign="middle" width="14%">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                        </td>
                        <td align="left" valign="middle" width="81%">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
                                  <div align="left">
                                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Please
                                        see Item 5.02
                                        below.</font></div>
                                    </div>
                                  </div>
                                </div>
                              </div>
                            </div>
                          </div>
                        </td>
                      </tr>

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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                  <table cellpadding="0" cellspacing="0" width="100%">

                      <tr>
                        <td align="left" valign="middle" width="14%" style="border-bottom: black thin solid;">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>&#160;ITEM
                            2.02.&#160;&#160;&#160;</strong></font></div>
                        </td>
                        <td align="left" valign="middle" width="81%" style="border-bottom: black double;">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Results
                            of Operations and Financial Condition</strong></font></div>
                        </td>
                      </tr>
                      <tr>
                        <td align="left" valign="middle" width="14%">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                        </td>
                        <td align="left" valign="middle" width="81%">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
                                  <div align="left">
                                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
                                        information in this Item 2.02 and the Exhibit
                                        99.3 attached hereto shall
                                        not be deemed "filed" for purposes of Section
                                        18 of the Securities
                                        Exchange Act of 1934, nor shall it be deemed
                                        incorporated by reference in
                                        only filing under the Securities Act of 1933,
                                        except as shall be expressly
                                        set forth by specific reference in such filing.</font></div>
                                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">On
                                        May 17, 2006, the Company issued a press
                                        release reporting
                                        expected sales and results for the quarter
                                        ended March 31, 2006. </div>
                                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">The
                                        press release is furnished as Exhibit 99.3
                                        to this Form
                                        8-K.</div>
                                    </div>
                                  </div>
                                </div>
                              </div>
                            </div>
                          </div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                  <table cellpadding="0" cellspacing="0" width="100%">

                      <tr>
                        <td align="left" valign="middle" width="14%" style="border-bottom: black thin solid;">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>ITEM
                            3.01.&#160;&#160;&#160;</strong></font></div>
                        </td>
                        <td align="left" valign="middle" width="81%" style="border-bottom: black double;">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Notice
                              of Delisting or Failure to Satisfy a Continued Listing
                              Rule or Standard;
                              Transfer of Listing</strong></font></div>
                          </div>
                        </td>
                      </tr>
                      <tr>
                        <td align="left" valign="middle" width="14%">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                        </td>
                        <td align="left" valign="middle" width="81%">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
                                  <div align="left">
                                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">On
                                          May 12, 2006, </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">the
                                          Company received a letter from the Nasdaq
                                          Listing Qualifications Staff
                                          indicating that the Company&#8217;s failure to timely file&#160;its Form 10-Q
                                          for the quarter ended March 31, 2006 could
                                          result in the delisting of the
                                          Company&#8217;s stock from The Nasdaq Stock Market. As
                                          previously announced, the
                                          Nasdaq Listing Qualifications Panel (the
&#8220;Panel&#8221;) granted the Company an
                                          extension until June 30, 2006 to file the
                                          Form 10-Q for the quarter ended
                                          March 31, 2006. This new notice does not
                                          alter or impact the previously
                                          granted extensions that the Panel had previously
                                          granted to the Company.
                                          By letter dated May 2, 2006, the Panel
                                          granted the Company&#8217;s request for
                                          continued listing on Nasdaq subject to
                                          certain conditions, including: (i)
                                          on or before June 16, 2006, the Company
                                          must file with the Securities and
                                          Exchange Commission (the &#8220;SEC&#8221;) the Form 10-K for the fiscal year ended
                                          December 31, 2005; and (ii) on or before
                                          June 30, 2006, the Company must
                                          file with the SEC the Form 10-Q for the
                                          quarter ended March 31, 2006.
                                          </font></div>
                                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">While
                                          the Company believes it can meet the deadlines
                                          set forth in the Nasdaq
                                          Panel&#8217;s decision, there can be no assurance that
                                          the Company will be able
                                          to do so or that the Panel will continue
                                          the Company&#8217;s listing on The
                                          Nasdaq Stock Market in the event the Company
                                          fails to meet the deadlines
                                          set forth in the Panel&#8217;s decision.</font></div>
                                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                                      </div>
                                    </div>
                                  </div>
                                </div>
                              </div>
                            </div>
                          </div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                <div>
                  <table cellpadding="0" cellspacing="0" width="100%">

                      <tr>
                        <td align="left" valign="middle" width="14%" style="border-bottom: black thin solid;">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>&#160;ITEM
                            5.02.&#160;&#160;&#160;</strong></font></div>
                        </td>
                        <td align="left" valign="middle" width="81%" style="border-bottom: black double;">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Departure
                            of Directors or Principal Officers; Election of Directors;
                            Appointment of
                            Principal Officers</strong></font></div>
                        </td>
                      </tr>
                      <tr>
                        <td align="left" valign="middle" width="14%">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                        </td>
                        <td align="left" valign="middle" width="81%">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
                                  <div align="left">
                                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Effective
                                        with his&#160;retirement from his employment as Executive
                                        Vice President
                                        and Chief Operating Officer of the Company
                                        as described at Item 5.02(b)
                                        below, Mr. Charles G. Robertson has also
                                        resigned from the Company's Board
                                        of Directors.</font></div>
                                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
                                        service of Mr. Robertson as Executive Vice
                                        President and Chief Operating
                                        Officer of the Company ended on May 16, 2006.
                                        The Company and Mr.
                                        Robertson had previously entered into a Change
                                        in Control Agreement (the
                                        &#8220;Robertson Agreement&#8221;). Upon his retirement from his position)
                                        pursuant to
                                        which Mr. Robertson was entitled to severance
                                        benefits in the event of a
                                        "change in control" (as defined in the Robertson
                                        Agreement) of the Company
                                        during the term of his employment. The terms
                                        of that agreement expired
                                        upon of Mr. Robertson&#8217;s retirement from his employment with the
                                        Company. A
                                        form of such agreement was filed with the
                                        SEC as exhibit 10.1 to the
                                        Company&#8217;s current report on Form 8-K, which was filed
                                        with the SEC on June
                                        28, 2000, and is incorporated herein by reference.</font></div>
                                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
                                        Company&#8217;s Board of Directors has&#160;appointed Mr.&#160;Yetter to the
                                        position of Senior Vice President and Chief
                                        Financial Officer, effective
                                        May 17, 2006, on which date Mr. Yetter was
                                        also elected to the Company&#8217;s
                                        Board of Directors.&#160; Mr. Yetter will&#160;serve as a Class II
                                        director of the Company, with a term that
                                        will expire at the Company&#8217;s
                                        2006 Annual Meeting of Shareholders. </font></div>
                                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Mr.
                                        Yetter, 53, has served as Interim Chief Financial
                                        Officer since February
                                        15, 2006, when the Company&#8217;s prior Chief Financial Officer resigned.
                                        He
                                        has been with the Company since 1986, and
                                        has served as Treasurer and Vice
                                        President of Finance for the Company and
                                        FFE Transportation Services, Inc.
                                        ("FFE"), respectively. Mr. Yetter is a graduate
                                        of the University of Iowa
                                        and is a Certified Public Accountant. </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">A
                                        summary of Mr. Yetter&#8217;s compensation arrangements reflecting his
                                        responsibilities as Senior Vice President
                                        and Chief Financial Officer is
                                        filed as Exhibit 99.1 hereto.</font></div>
                                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Under
                                        the terms of the Yetter Agreement and substantially
                                        identical agreements
                                        in place with the Company&#8217;s other two executive officers, if an executive
                                        officer (i) is terminated by the Company
                                        without cause during the six
                                        month period following a change in control
                                        ("Transition Period"), (ii)
                                        resigns for "good reason" (as defined in
                                        the agreements) during the
                                        Transition Period, or (iii) resigns for any
                                        reason during the ten day
                                        period following a change in control or during
                                        the thirty day period
                                        following the Transition Period, then the
                                        Company is required to provide
                                        the executive officer with certain payments
                                        and benefits. Such payments
                                        and benefits include (a) payment of accrued
                                        and unpaid base salary, car
                                        allowance, plus accrued and unpaid bonus,
                                        if any, for the prior fiscal
                                        year plus a pro-rated bonus (as defined in
                                        the agreements) for the year
                                        during which such executive officer's employment
                                        is terminated; (b)
                                        payment of a lump sum amount equal to the
                                        sum of 2.9 times the executive
                                        officer's annual pay (as defined in the agreements);
                                        (c) payment of the
                                        unvested account balance under the Company's
                                        401(k) Savings Plan and
                                        401(k) Wrap Plan; (d) continued participation,
                                        at the same premium rate
                                        charged when actively employed, in the Company's
                                        employee welfare plans,
                                        until the expiration of two years following
                                        the change in control or cash
                                        equivalent; (e) vesting of all stock options
                                        on change of control; and (f)
                                        "gross-up" payments, if applicable, in the
                                        amount necessary to satisfy any
                                        excise tax imposed on the executive officer
                                        by the Internal Revenue Code
                                        of 1986.</font></div>
                                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
                                        Company&#8217;s Board of Directors has&#160;also appointed Mr.&#160;Stoney R.
                                        (&#8220;Russell&#8221;) Stubbs, 42,&#160;to the position of Senior Vice President
                                        and
                                        Chief Operating Officer, effective May 17,
                                        2006,. </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">He
                                        replaces the retiring Charles G. Robertson,
                                        63, who was also an Executive
                                        Vice President and a Director of the Company.
                                        Previously, Mr. Stubbs
                                        served as Senior Vice President of the Company,
                                        and since 1999, as
                                        President of Lisa Motor Lines, Inc., a subsidiary
                                        based in Fort Worth,
                                        Texas. He joined the Company's primary operating
                                        subsidiary, FFE, in 1986
                                        as a management trainee upon his graduation
                                        from Texas A&amp;M University.
                                        Russell Stubbs is also a Director of the
                                        Company and is the son of Stoney
                                        M. Stubbs, Jr. For a description of transactions
                                        between Mr. Stubbs and
                                        certain related parties and the Company,
                                        reference is made to the
                                        Company's Current Report on Form 8-K dated
                                        November 16, 2005, which is
                                        incorporated herein by reference.&#160; A summary of Mr. Russell Stubbs's
                                        compensation arrangements appears as Exhibit
                                        99.2 to this Form
                                        8-K.</font></div>
                                    </div>
                                  </div>
                                </div>
                              </div>
                            </div>
                          </div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
                  <div id="FTR">
                    <div id="GLFTR" style="WIDTH: 100%" align="left">
                    </div>
                  </div>
                  <div id="PN" style="PAGE-BREAK-AFTER: always">
                    <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">Page
                      2 of
                      3</font></div>
                    <div style="WIDTH: 100%; TEXT-ALIGN: center">
                      <hr style="COLOR: black" noshade size="2">
                    </div>
                  </div>
                  <div id="HDR">
                    <div id="GLHDR" style="WIDTH: 100%" align="right">
                    </div>
                  </div>
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </div>
              <div>
                <table cellpadding="0" cellspacing="0" width="100%">

                    <tr>
                      <td align="left" valign="middle" width="14%" style="border-bottom: black thin solid;">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>ITEM
                          9.01.</strong></font></div>
                      </td>
                      <td align="left" valign="middle" width="81%" style="border-bottom: black double;">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>&#160;Financial
                          Statements and Exhibits</strong></font></div>
                      </td>
                    </tr>
                    <tr>
                      <td align="left" valign="middle" width="14%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(c)
                          EXHIBITS</font></div>
                      </td>
                      <td align="left" valign="middle" width="81%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                    </tr>
                    <tr>
                      <td align="left" valign="middle" width="14%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                      <td align="left" valign="middle" width="81%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
                          following exhibits are furnished pursuant to Item 9.01
                          of Form
                          8-K.&#160;</font></div>
                      </td>
                    </tr>
                    <tr>
                      <td align="left" valign="middle" width="14%" style="border-bottom: black thin solid;">
                        <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                      <td align="left" valign="middle" width="81%" style="border-bottom: black thin solid;">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
                      </td>
                    </tr>
                    <tr>
                      <td align="left" valign="top" width="14%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">10.1</div>
                      </td>
                      <td align="left" valign="middle" width="81%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Form
                                  of Change in Control Agreement (filed as&#160;exhibit 10.1
                                  to&#160;Registrant's Report on Form 8-K filed with the
                                  Commission on June
                                  28, 2000 and incorporated herein by reference)
                                  </font></div>
                              </div>
                            </div>
                          </div>
                        </div>
                      </td>
                    </tr>
                    <tr>
                      <td align="left" valign="top" width="14%">
                        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;99.1</div>
                      </td>
                      <td align="left" valign="middle" width="81%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Compensation
                          Arrangements for Thomas G. Yetter effective May 17, 2006
                          (filed
                          herewith)</font></div>
                      </td>
                    </tr>
                    <tr>
                      <td align="left" valign="top" width="14%">
                        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;99.2</div>
                      </td>
                      <td align="left" valign="middle" width="81%">Compensation
                        Arrangements for S.
                        Russell Stubbs effective <font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">May
                        17, 2006 (filed herewith)</font></td>
                    </tr>
                    <tr>
                      <td align="left" valign="top" width="14%">
                        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;99.3</div>
                      </td>
                      <td align="left" valign="middle" width="81%">Press Release
                        dated May 17, 2006
                        from Frozen Food Express Industries, Inc. (filed
                        herewith)</td>
                    </tr>

                </table>
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SIGNATURES</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Pursuant
                to the requirements of the Securities Exchange Act of 1934, the registrant
                has
                duly caused this report to be signed on its behalf by the undersigned
                hereunto
                duly authorized.</font></div>
              <div>
                <table cellpadding="0" cellspacing="0" width="100%">

                    <tr>
                      <td align="left" valign="top" width="42%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                      <td align="left" colspan="3" valign="top" width="54%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>FROZEN
                          FOOD EXPRESS INDUSTRIES, INC.</strong></font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                    </tr>
                    <tr>
                      <td align="left" valign="top" width="42%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                      <td align="left" valign="top" width="5%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                      <td align="left" valign="middle" width="32%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                      <td align="left" valign="top" width="17%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                    </tr>
                    <tr>
                      <td align="left" valign="top" width="42%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                      <td align="left" valign="top" width="5%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                      <td align="left" valign="middle" width="32%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                      <td align="left" valign="top" width="17%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                    </tr>
                    <tr>
                      <td align="left" valign="top" width="42%" style="border-bottom: #ffffff solid;">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Dated:
                          May 18, 2006</font></div>
                      </td>
                      <td align="left" valign="top" width="5%" style="border-bottom: #ffffff solid;">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">By:</font></div>
                      </td>
                      <td align="left" valign="top" width="32%" style="border-bottom: black double;">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">/s/
                          Thomas G. Yetter</font></div>
                      </td>
                      <td align="left" valign="top" width="17%" style="border-bottom: #ffffff solid;">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                    </tr>
                    <tr>
                      <td align="left" valign="top" width="42%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                      <td align="left" valign="top" width="5%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                      <td align="left" valign="top" width="32%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Thomas
                          G. Yetter</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Senior
                            Vice President and </font></div>
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Chief
                            Financial Officer</font></div>
                          <div>
                          </div>
                        </div>
                      </td>
                      <td align="left" valign="top" width="17%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                    </tr>

                </table>
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div id="HDR">&#160;</div>
              <div>
                <table cellpadding="0" cellspacing="0" width="100%">

                    <tr>
                      <td align="left" valign="middle" width="14%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>EXHIBIT
                          INDEX</strong></font></div>
                      </td>
                      <td align="left" valign="middle" width="60%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                      <td width="10%">&#160;</td>
                    </tr>
                    <tr>
                      <td align="left" valign="middle" width="14%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                      <td align="left" valign="middle" width="60%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                      <td width="10%">&#160;</td>
                    </tr>
                    <tr>
                      <td align="left" valign="middle" width="14%" style="border-bottom: black thin solid;">
                        <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Exhibit
                          No.</font></div>
                      </td>
                      <td align="left" valign="middle" width="60%" style="border-bottom: black thin solid;">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Exhibit
                          Title&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
                      </td>
                      <td valign="middle" width="10%" style="border-bottom: #000000 thin solid;">
                        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;Page</div>
                      </td>
                    </tr>
                    <tr>
                      <td align="left" valign="top" width="14%">
                        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">10.1</div>
                      </td>
                      <td align="left" valign="middle" width="60%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Form
                          of Change in Control Agreement (filed as&#160;exhibit 10.1
                          to&#160;Registrant's Report on Form 8-K filed with the Commission
                          on June
                          28, 2000 and incorporated herein by reference) </font></div>
                      </td>
                      <td width="10%">&#160;</td>
                    </tr>
                    <tr>
                      <td align="left" valign="top" width="14%">
                        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">99.1</div>
                      </td>
                      <td align="left" valign="middle" width="60%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Compensation
                          Arrangements for Thomas G. Yetter effective May 17, 2006
                          (filed
                          herewith)</font></div>
                      </td>
                      <td width="10%">
                        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;4</div>
                      </td>
                    </tr>
                    <tr>
                      <td align="left" valign="top" width="14%">
                        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">99.2</div>
                      </td>
                      <td align="left" valign="middle" width="60%">Compensation
                        Arrangements for S.
                        Russell Stubbs effective <font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">May
                        17, 2006 (filed herewith)</font></td>
                      <td width="10%">
                        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;5</div>
                      </td>
                    </tr>
                    <tr>
                      <td align="left" valign="top" width="14%">
                        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">99.3</div>
                      </td>
                      <td align="left" valign="middle" width="60%">Press Release
                        dated May 17, 2006
                        from Frozen Food Express Industries, Inc.(filed herewith)</td>
                      <td width="10%">
                        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;6</div>
                      </td>
                    </tr>

                </table>
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br>&#160;</div>
              <div align="center">
                <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%">

                    <tr bgcolor="white">
                      <td width="100%">
                        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman">Page&#160;3&#160;
                          of&#160; 3</font></div>
                      </td>
                    </tr>
                    <tr bgcolor="white">
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                        <hr style="COLOR: black" align="left" noshade size="2" width="100%">
                      </td>
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{"company-data": {"conformed-name": "FROZEN FOOD EXPRESS INDUSTRIES INC", "cik": "0000039273", "assigned-sic": "4213", "irs-number": "751301831", "state-of-incorporation": "TX", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-10006", "film-number": "06852455"}, "business-address": {"street1": "1145 EMPIRE CENTRAL PLACE", "city": "DALLAS", "state": "TX", "zip": "75247", "phone": "2146308090"}}
FFEX Form 8-K Latest Events May 2006
UNITED
                STATES
SECURITIES
                AND EXCHANGE COMMISSION
WASHINGTON,
                DC 20549
FORM
                8-K
CURRENT
                REPORT
Pursuant
                to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
                of
                Report:
(Date
                of
                earliest event reported)
May
                12,
                2006
FROZEN
                FOOD EXPRESS INDUSTRIES, INC.
(Exact
                Name of Registrant as Specified in its Charter)
Texas
(State
                          or Other Jurisdiction of Incorporation)
1-10006
COMMISSION
                          FILE NUMBER
75-1301831
(IRS
                          Employer Identification No.)
1145
                          Empire Central Place
Dallas,
                          Texas 75247-4309
(Address
                          of Principal Executive Offices)
(214)
                          630-8090
(Registrant's
                          telephone number, including area
                          code)
Check
                          the appropriate box below if the Form 8-K filing is intended
                          to
                          simultaneously satisfy the filing obligation of the registrant
                          under any
                          of the following provisions:
r
Written
                          communications pursuant to Rule 425 under the Securities
                          Act (17 CFR
                          230.425)
r
Soliciting
                          material pursuant to Rule 14a-12 under the Exchange Act
                          (17 CFR
                          240.14a-12)
r
Pre-commencement
                          communications pursuant to Rule 14d-2(b) under the Exchange
                          Act (17 CFR
                          240.14d-2(b))
r
Pre-commencement
                          communications pursuant to Rule 13e-4(c) under the Exchange
                          Act (17 CFR
                          240.13e-4(c))
Page
                    1
                    of  3
ITEM
                            1.01.
Entry
                            into a Material Definitive Agreement
In
                                        connection with the appointment of Mr. Thomas
                                        G. Yetter as Senior Vice
                                        President and Chief Financial Officer of
                                        the Company as described below in
                                        Item 5.02, Frozen Food Express Industries,
                                        Inc. (the "Company") entered
                                        into a Change in Control Agreement (the "Yetter
                                        Agreement") and the
                                        compensation arrangements with Mr. Yetter
                                        described below in Item 5.02
                                        effective May 17, 2006.  The form of the Yetter Agreement is
                                        substantially similar to the form of Change
                                        in Control Agreement entered
                                        into with the other executive officers of
                                        the Company that is attached as
                                        Exhibit 10.1 to the Company's Current Report on Form 8-K filed on June
                                        28,
                                        2000, and is incorporated herein by reference.
In
                                        connection with the appointment of Mr. Stoney
                                        R. ("Russell") Stubbs to the
                                        position of Senior Vice President and Chief
                                        Operating Officer as described
                                        below in Item 5.02, the Company entered into
                                        a the compensation
                                        arrangements with Mr. Stubbs described on
                                        Exhibit 99.2 to this Form 8-K
                                        effective May 17,
                                        2006.
ITEM
                            1.02.
Termination
                            of a Material Definitive Agreement
Please
                                        see Item 5.02
                                        below.
ITEM
                            2.02.
Results
                            of Operations and Financial Condition
The
                                        information in this Item 2.02 and the Exhibit
                                        99.3 attached hereto shall
                                        not be deemed "filed" for purposes of Section
                                        18 of the Securities
                                        Exchange Act of 1934, nor shall it be deemed
                                        incorporated by reference in
                                        only filing under the Securities Act of 1933,
                                        except as shall be expressly
                                        set forth by specific reference in such filing.
On
                                        May 17, 2006, the Company issued a press
                                        release reporting
                                        expected sales and results for the quarter
                                        ended March 31, 2006.
The
                                        press release is furnished as Exhibit 99.3
                                        to this Form
                                        8-K.
ITEM
                            3.01.
Notice
                              of Delisting or Failure to Satisfy a Continued Listing
                              Rule or Standard;
                              Transfer of Listing
On
                                          May 12, 2006,
the
                                          Company received a letter from the Nasdaq
                                          Listing Qualifications Staff
                                          indicating that the Company's failure to timely file its Form 10-Q
                                          for the quarter ended March 31, 2006 could
                                          result in the delisting of the
                                          Company's stock from The Nasdaq Stock Market. As
                                          previously announced, the
                                          Nasdaq Listing Qualifications Panel (the
"Panel") granted the Company an
                                          extension until June 30, 2006 to file the
                                          Form 10-Q for the quarter ended
                                          March 31, 2006. This new notice does not
                                          alter or impact the previously
                                          granted extensions that the Panel had previously
                                          granted to the Company.
                                          By letter dated May 2, 2006, the Panel
                                          granted the Company's request for
                                          continued listing on Nasdaq subject to
                                          certain conditions, including: (i)
                                          on or before June 16, 2006, the Company
                                          must file with the Securities and
                                          Exchange Commission (the "SEC") the Form 10-K for the fiscal year ended
                                          December 31, 2005; and (ii) on or before
                                          June 30, 2006, the Company must
                                          file with the SEC the Form 10-Q for the
                                          quarter ended March 31, 2006.
While
                                          the Company believes it can meet the deadlines
                                          set forth in the Nasdaq
                                          Panel's decision, there can be no assurance that
                                          the Company will be able
                                          to do so or that the Panel will continue
                                          the Company's listing on The
                                          Nasdaq Stock Market in the event the Company
                                          fails to meet the deadlines
                                          set forth in the Panel's decision.
ITEM
                            5.02.
Departure
                            of Directors or Principal Officers; Election of Directors;
                            Appointment of
                            Principal Officers
Effective
                                        with his retirement from his employment as Executive
                                        Vice President
                                        and Chief Operating Officer of the Company
                                        as described at Item 5.02(b)
                                        below, Mr. Charles G. Robertson has also
                                        resigned from the Company's Board
                                        of Directors.
The
                                        service of Mr. Robertson as Executive Vice
                                        President and Chief Operating
                                        Officer of the Company ended on May 16, 2006.
                                        The Company and Mr.
                                        Robertson had previously entered into a Change
                                        in Control Agreement (the
                                        "Robertson Agreement"). Upon his retirement from his position)
                                        pursuant to
                                        which Mr. Robertson was entitled to severance
                                        benefits in the event of a
                                        "change in control" (as defined in the Robertson
                                        Agreement) of the Company
                                        during the term of his employment. The terms
                                        of that agreement expired
                                        upon of Mr. Robertson's retirement from his employment with the
                                        Company. A
                                        form of such agreement was filed with the
                                        SEC as exhibit 10.1 to the
                                        Company's current report on Form 8-K, which was filed
                                        with the SEC on June
                                        28, 2000, and is incorporated herein by reference.
The
                                        Company's Board of Directors has appointed Mr. Yetter to the
                                        position of Senior Vice President and Chief
                                        Financial Officer, effective
                                        May 17, 2006, on which date Mr. Yetter was
                                        also elected to the Company's
                                        Board of Directors.  Mr. Yetter will serve as a Class II
                                        director of the Company, with a term that
                                        will expire at the Company's
                                        2006 Annual Meeting of Shareholders.
Mr.
                                        Yetter, 53, has served as Interim Chief Financial
                                        Officer since February
                                        15, 2006, when the Company's prior Chief Financial Officer resigned.
                                        He
                                        has been with the Company since 1986, and
                                        has served as Treasurer and Vice
                                        President of Finance for the Company and
                                        FFE Transportation Services, Inc.
                                        ("FFE"), respectively. Mr. Yetter is a graduate
                                        of the University of Iowa
                                        and is a Certified Public Accountant.
A
                                        summary of Mr. Yetter's compensation arrangements reflecting his
                                        responsibilities as Senior Vice President
                                        and Chief Financial Officer is
                                        filed as Exhibit 99.1 hereto.
Under
                                        the terms of the Yetter Agreement and substantially
                                        identical agreements
                                        in place with the Company's other two executive officers, if an executive
                                        officer (i) is terminated by the Company
                                        without cause during the six
                                        month period following a change in control
                                        ("Transition Period"), (ii)
                                        resigns for "good reason" (as defined in
                                        the agreements) during the
                                        Transition Period, or (iii) resigns for any
                                        reason during the ten day
                                        period following a change in control or during
                                        the thirty day period
                                        following the Transition Period, then the
                                        Company is required to provide
                                        the executive officer with certain payments
                                        and benefits. Such payments
                                        and benefits include (a) payment of accrued
                                        and unpaid base salary, car
                                        allowance, plus accrued and unpaid bonus,
                                        if any, for the prior fiscal
                                        year plus a pro-rated bonus (as defined in
                                        the agreements) for the year
                                        during which such executive officer's employment
                                        is terminated; (b)
                                        payment of a lump sum amount equal to the
                                        sum of 2.9 times the executive
                                        officer's annual pay (as defined in the agreements);
                                        (c) payment of the
                                        unvested account balance under the Company's
                                        401(k) Savings Plan and
                                        401(k) Wrap Plan; (d) continued participation,
                                        at the same premium rate
                                        charged when actively employed, in the Company's
                                        employee welfare plans,
                                        until the expiration of two years following
                                        the change in control or cash
                                        equivalent; (e) vesting of all stock options
                                        on change of control; and (f)
                                        "gross-up" payments, if applicable, in the
                                        amount necessary to satisfy any
                                        excise tax imposed on the executive officer
                                        by the Internal Revenue Code
                                        of 1986.
The
                                        Company's Board of Directors has also appointed Mr. Stoney R.
                                        ("Russell") Stubbs, 42, to the position of Senior Vice President
                                        and
                                        Chief Operating Officer, effective May 17,
                                        2006,.
He
                                        replaces the retiring Charles G. Robertson,
                                        63, who was also an Executive
                                        Vice President and a Director of the Company.
                                        Previously, Mr. Stubbs
                                        served as Senior Vice President of the Company,
                                        and since 1999, as
                                        President of Lisa Motor Lines, Inc., a subsidiary
                                        based in Fort Worth,
                                        Texas. He joined the Company's primary operating
                                        subsidiary, FFE, in 1986
                                        as a management trainee upon his graduation
                                        from Texas A&M University.
                                        Russell Stubbs is also a Director of the
                                        Company and is the son of Stoney
                                        M. Stubbs, Jr. For a description of transactions
                                        between Mr. Stubbs and
                                        certain related parties and the Company,
                                        reference is made to the
                                        Company's Current Report on Form 8-K dated
                                        November 16, 2005, which is
                                        incorporated herein by reference.  A summary of Mr. Russell Stubbs's
                                        compensation arrangements appears as Exhibit
                                        99.2 to this Form
                                        8-K.
Page
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ITEM
                          9.01.
Financial
                          Statements and Exhibits
(c)
                          EXHIBITS
The
                          following exhibits are furnished pursuant to Item 9.01
                          of Form
                          8-K.
10.1
Form
                                  of Change in Control Agreement (filed as exhibit 10.1
                                  to Registrant's Report on Form 8-K filed with the
                                  Commission on June
                                  28, 2000 and incorporated herein by reference)
99.1
Compensation
                          Arrangements for Thomas G. Yetter effective May 17, 2006
                          (filed
                          herewith)
99.2
Compensation
                        Arrangements for S.
                        Russell Stubbs effective
May
                        17, 2006 (filed herewith)
99.3
Press Release
                        dated May 17, 2006
                        from Frozen Food Express Industries, Inc. (filed
                        herewith)
SIGNATURES
Pursuant
                to the requirements of the Securities Exchange Act of 1934, the registrant
                has
                duly caused this report to be signed on its behalf by the undersigned
                hereunto
                duly authorized.
FROZEN
                          FOOD EXPRESS INDUSTRIES, INC.
Dated:
                          May 18, 2006
By:
/s/
                          Thomas G. Yetter
Thomas
                          G. Yetter
Senior
                            Vice President and
Chief
                            Financial Officer
EXHIBIT
                          INDEX
Exhibit
                          No.
Exhibit
                          Title
Page
10.1
Form
                          of Change in Control Agreement (filed as exhibit 10.1
                          to Registrant's Report on Form 8-K filed with the Commission
                          on June
                          28, 2000 and incorporated herein by reference)
99.1
Compensation
                          Arrangements for Thomas G. Yetter effective May 17, 2006
                          (filed
                          herewith)
4
99.2
Compensation
                        Arrangements for S.
                        Russell Stubbs effective
May
                        17, 2006 (filed herewith)
5
99.3
Press Release
                        dated May 17, 2006
                        from Frozen Food Express Industries, Inc.(filed herewith)
6
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