Covenant Transport Unveils $10K Annual Equity Bonus for HAZMAT Team Owner Operators

April 26, 2012

Covenant Transport today announced a new Owner Operator HAZMAT Team Equity Bonus that will offer an extra $10,000 per year to assist HAZMAT team owner operators in replacing equipment.

“Our company has decided that owner operators shouldn’t be in it all alone when it comes to paying to replace their tractors,” says Covenant Transport’s John Arthur Daniel, vice president for capacity development. “The $80,000 truck expenditure from just a few years ago has suddenly turned into a $120,000 expenditure and that hits owner operators hard. So we want to step up and help them out when it’s time for them to replace their equipment.”

Daniel explains that all HAZMAT owner operator teams who run at least 35 loads per quarter will now be eligible for a $2,500 per quarter bonus payout on an ongoing basis. “This is not a one-time payout,” he said. “Those who qualify will continue to receive the bonus for as long as they drive for Covenant.” Lease Purchase drivers will be eligible for the bonus after their trucks are paid out.

“We’ve always been known for providing our company drivers with one of the newest fleets in the business. But we care about all our drivers. We want to

position owner operators to do just as well-to be able to purchase reliable, efficient and late-model equipment for their deliveries,” says Daniel. “This helps our contractors and it benefits us, too. By seeing that our HAZMAT owner operator teams stay in good, solid equipment, we’re helping them be the best they can be, avoid CSA violations, and continue to provide our customers with the best service in the industry. Our goal is for everyone on the Covenant team to be a long-term success.”

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