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<SEC-DOCUMENT>0000950157-08-000353.txt : 20080509
<SEC-HEADER>0000950157-08-000353.hdr.sgml : 20080509
<ACCEPTANCE-DATETIME>20080509170056
ACCESSION NUMBER:		0000950157-08-000353
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20080506
ITEM INFORMATION:		Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20080509
DATE AS OF CHANGE:		20080509

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CSX CORP
		CENTRAL INDEX KEY:			0000277948
		STANDARD INDUSTRIAL CLASSIFICATION:	RAILROADS, LINE-HAUL OPERATING [4011]
		IRS NUMBER:				621051971
		STATE OF INCORPORATION:			VA
		FISCAL YEAR END:			1226

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08022
		FILM NUMBER:		08819438

	BUSINESS ADDRESS:	
		STREET 1:		500 WATER STREET
		STREET 2:		15TH FLOOR
		CITY:			JACKSONVILLE
		STATE:			FL
		ZIP:			32202
		BUSINESS PHONE:		9043593200

	MAIL ADDRESS:	
		STREET 1:		500 WATER STREET
		STREET 2:		15TH FLOOR
		CITY:			JACKSONVILLE
		STATE:			FL
		ZIP:			32202
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
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<FILENAME>form8k.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
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STATES</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECURITIES
AND EXCHANGE COMMISSION</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Washington,
D.C. 20549</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman">FORM
8-K</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CURRENT
REPORT</font></div>
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to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></div>
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Report (Date of earliest event reported): May 6, 2008</font></div>
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CORPORATION</font></div>
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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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</font></div>
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5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(e) On
May 6, 2008, the Compensation Committee of the Board of Directors of CSX
Corporation (&#8220;CSX&#8221;) approved and adopted the CSX 2008-2010 Long Term Incentive
Plan (the &#8220;Plan&#8221;).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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CSX Omnibus Incentive Plan (&#8220;COIP&#8221;), establishes certain performance goals and
award opportunities for&#160;eligible CSX employees. The Plan seeks to motivate
and reward certain CSX employees, in a manner aligned with shareholder value
creation, through the issuance of Performance Grants pursuant to which payouts
are made based on CSX&#8217;s attainment of&#160;preestablished Operating Ratio
targets for fiscal year 2010.&#160; The targets require significant Operating
Ratio improvement over the most recently completed fiscal year. CSX&#8217;s Operating
Ratio is defined as consolidated operating expenses divided by
operating&#160;revenue and is calculated excluding non-recurring items. The
Operating Ratio targets that determine payouts may&#160;also vary based on the
average cost of oil. Payouts&#160;under the Plan&#160;will be in the form of CSX
common stock and will be made, if at all, in early 2011.</font></div>
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executive officers are subject to discretionary downward adjustment by up to 30%
based&#160;upon accomplishment of certain company initiatives.</font></div>
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10.1.</font></div>
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9.01.&#160;&#160;Financial Statements and Exhibits.</font></div>
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part of this Report.</font></div>
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      </font></td>
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      2008-2010 Long Term Incentive Plan</font></div>
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          </tr>
      </table>
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</font></div>
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    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNATURES</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>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 thereunto duly
authorized.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div align="left">
      <table cellpadding="0" cellspacing="0" width="95%">
          <tr>
            <td valign="top" width="60%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" colspan="2" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CSX
      CORPORATION</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="60%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="36%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
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          <tr>
            <td align="left" valign="top" width="60%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Date:&#160;&#160;May
      9, 2008</font></div>
            </td>
            <td align="left" valign="top" width="4%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">By:</font></div>
            </td>
            <td valign="top" width="36%" style="BORDER-BOTTOM: black 0.5pt solid">&#160;<font size="2">&#160;/s/ CAROLYN T. SIZEMORE</font></td>
          </tr>
          <tr>
            <td valign="top" width="60%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            <td valign="top" width="36%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Carolyn
      T. Sizemore</font></td>
          </tr>
          <tr>
            <td valign="top" width="60%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="36%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Vice
      President and Controller</font></td>
          </tr>
          <tr>
            <td valign="top" width="60%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="36%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Principal
      Accounting Officer)</font></td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>
      <div>
        <hr style="COLOR: blue" align="left" noshade size="2" width="100%">
      </div><br></div>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex10-1.htm
<DESCRIPTION>2008 - 2010 LONG TERM INCENTIVE PLAN
<TEXT>
<html>
  <head>
    <title>ex10-1.htm</title>
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    <div>&#160;</div>
    <div style="TEXT-ALIGN: right"><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
10.1</font></div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">
    </div>
    <div>&#160;</div>
    <div align="center">
      <table bgcolor="white" cellpadding="20" cellspacing="0" width="100%">
          <tr>
            <td width="100%" style="BORDER-RIGHT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center">
              <div><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 14pt; FONT-FAMILY: times new roman">CSX
      2008&#8211;2010 Long Term Incentive Plan</font></font></div>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">&#160;</div>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">&#160;</div>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Effective Date and
      Term</font></font></div>
              <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
      CSX 2008&#8211;2010 Long Term Incentive Plan (the &#8220;2008&#8211;2010 LTIP&#8221; or the
      &#8220;Plan&#8221;), effective May 6, 2008 (the &#8220;Effective Date&#8221;), is the vehicle
      pursuant to which CSX Corporation (&#8220;CSX&#8221;) awards Performance Grants, as
      described in Section 8 of the CSX Omnibus Incentive Plan. The 2008&#8211;2010
      LTIP Cycle (the &#8220;2008&#8211;2010 Cycle&#8221; or &#8220;Cycle&#8221;) commences on the Effective
      Date and ends December 31, 2010.</font></div>
              <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Purpose and
      Objective</font></font></div>
              <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
      purpose of the 2008&#8211;2010 LTIP is to reward eligible employees for their
      contribution to the attainment of a lower Operating Ratio which is
      intended to result in CSX share price appreciation. Performance Grants are
      issued based on an employee&#8217;s job position, accountability, and the
      potential to impact CSX&#8217;s financial results.</font></div>
              <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
      Plan seeks to motivate and reward employees through the issuance of
      Performance Grants by which payouts (sometimes referred to as the
      &#8220;Performance Awards&#8221;) are made based on CSX&#8217;s 2010 Operating Ratio
      (&#8220;Operating Ratio&#8221;).&#160;&#160;&#160;Performance Awards will be in the
      form of CSX common stock.</font></div>
              <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Eligibility and
      Participation</font></font></div>
              <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Active
      employees of CSX or a participating affiliate (the Company or
      collectively, the &#8220;Companies&#8221;) in salary Band 06 and above as of the
      Effective Date shall participate in the 2008&#8211;2010 LTIP (&#8220;Participants&#8221;)
      and shall receive Performance Grants in accordance with the dollar value
      schedule approved by the Compensation Committee of CSX&#8217;s Board of
      Directors (the &#8220;Compensation Committee&#8221;). The CSX Compensation and
      Benefits Department calculates the Performance Grants granted to each
      salary band level (&#8220;Bands&#8221;). The Performance Grant schedule will be
      maintained in the office of the Plan Administrator.</font></div>
              <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Employees
      hired or promoted into Band 06 and above after the Effective Date and
      before the end of the 2008&#8211;2010 Cycle will receive a pro rata allocation
      of Performance Grants based on their participation (and status as full
      time or part-time).&#160;&#160;Participants who are moved to a higher or
      lower Band during the Cycle will receive a pro rata reallocation of
      Performance Grants pertaining to each applicable Band based upon the
      number of months of participation in each Band relative to the number of
      months in the Cycle.&#160;&#160;The same pro rata method will be used for
      employees who transfer between union and non-union employment. For
      purposes of the pro rata calculation, participation begins on the first
      day of the month following the date the Participant was hired, promoted,
      demoted, or transferred.&#160;&#160;Notwithstanding the preceding
      sentence, any Participant who is hired at or promoted to a salary level
      making such Participant a &#8220;covered employee&#8221; under Internal Revenue Code
      Section 162(m) must have had a period of service of at least 3 months to
      qualify for a Performance Grant at that level. In such cases, the pro rata
      calculation shall be made as of the date of hire or
promotion.</font></div>
              <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Plan
      Design</font></font><br></div>
              <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: times new roman">General</font></div>
              <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      Under the 2008&#8211;2010 LTIP, the Compensation Committee approves the value of
      incentive compensation granted to each Band.&#160;&#160;The number of
      Performance Grants</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right" align="left">&#160;</div>
            </td>
          </tr>
      </table>
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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        </div>
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      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: #0000ff" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
    </div>
    <div>&#160;</div>
    <div align="center">
      <table bgcolor="white" cellpadding="20" cellspacing="0" width="100%">
          <tr>
            <td width="100%" style="BORDER-RIGHT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-BOTTOM: black 1px solid">
              <div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      granted to each Band is calculated by the Compensation and Benefits
      Department using the New York Stock Exchange closing price of CSX stock on
      May 6, 2008.</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              </div>
              <div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: times new roman">Operating
      Ratio</font></div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operating
      Ratio is the single performance measure.&#160;&#160;CSX Executive Team
      (&#8220;E-Team&#8217;) Participants, however, are subject, as discussed further below,
      to certain additional measures which may result in the reduction of
      Performance Awards despite achievement of a preestablished Operating Ratio
      goal.&#160;&#160;Operating Ratio is defined as consolidated CSX
      Corporation operating expenses divided by operating revenue. Operating
      Ratio is calculated excluding nonrecurring items disclosed in the
      financial statements.&#160;&#160;Using this measure to determine payout
      levels reinforces the correlation between an improving Operating Ratio and
      an increasing stock price.&#160;&#160;Efforts to improve the Operating
      Ratio aligns CSX&#8217;s business objectives in a way that allows individuals to
      equate personal actions to desired performance outcomes.&#160;&#160;Each
      Plan Participant should be motivated to grow revenue, reduce expense,
      improve service, increase productivity, improve safety, and increase asset
      utilization and rationalization.</font></div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As
      the price of oil has a significant impact on the Operating Ratio but not
      necessarily Operating Income because of CSX&#8217;s ability to pass a portion of
      the cost of oil on to customers, the Operating Ratio targets vary based on
      the average cost of oil per barrel outside the &#8220;collar&#8221; for
      2010.&#160;&#160;The chart in Exhibit A reflects the Operating Ratio
      targets and related Performance Awards at various WTI/Barrel prices of oil
      and provides a payout example.</font></div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Performance
      Awards</font></font></div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As
      shown in the Performance Measure Table in Exhibit A<font style="DISPLAY: inline; FONT-STYLE: italic">,</font> Performance Awards
      are paid out as a percentage of a Participant&#8217;s Performance Grant units
      based upon the applicable CSX 2010 Operating Ratio discussed
      above.&#160;&#160;All Performance Awards will be paid in CSX
      stock.</font></div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: times new roman">Terms
      of Performance Award</font></div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Performance
      Awards will be paid only to Participants who are actively employed by the
      Companies on the date of payout for the 2008&#8211;2010 LTIP. Except as provided
      below, all other Participants whose employment terminates prior to the
      payout date shall forfeit any and all Performance Grants and thus receive
      no Performance Award. All Performance Awards will be payable no later than
      the March 15 following the end of the Cycle.</font></div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">A
      Participant whose employment terminates due to death, disability, or
      retirement, shall be eligible to receive a pro rata Award under the LTIP
      if the Participant would have received a Performance Award had there been
      no death, disability, or retirement. Retirement shall mean (i) the
      attainment of age 55 and 10 years of Company service, or (ii) the
      attainment of age 65. Disability shall mean long-term disability as
      defined in the CSX Corporation Salary Continuance and Long-Term Disability
      Plan.&#160;&#160;In the case of death, such Performance Awards shall be
      made to the Participant&#8217;s estate, or as otherwise directed by
      law.&#160;&#160;&#160;If a Participant is due to receive a pro rata
      Performance Award under this paragraph but prior to payment engages in any
      prohibited conduct involving moral turpitude discussed further below, or
      violates the conditions stated in (i) through (v) of the Claw Back
      Provision contained herein, all Performance Grants shall be
      forfeited.</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Participants
      whose hours are reduced so that they are no longer full time active
      employees during the 2008&#8211;2010 Cycle, as a result of a phased retirement
      or similar</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right" align="left"><font size="2" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2</font></div>
              </div>
            </td>
          </tr>
      </table>
    </div>
    <div>&#160;</div>
    <div>&#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">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: #0000ff" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
    </div>
    <div>&#160;</div>
    <div align="center">
      <table bgcolor="white" cellpadding="20" cellspacing="0" width="100%">
          <tr>
            <td align="left" width="7%" style="BORDER-RIGHT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid">
              <div style="MARGIN: 0in 0in 0pt 0.5in; TEXT-ALIGN: justify" align="left"><font style="FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: times new roman">program
      at the request of or with the consent of CSX, shall be entitled to a pro
      rata Performance Award to the date of such change and a pro rata reduced
      Performance Award for the remaining portion of such 2008&#8211;2010 Cycle they
      work based on their reduced hours.</font></div>
              <div align="left">&#160;</div>
              <div style="MARGIN: 0in 0in 0pt 0.5in; TEXT-ALIGN: justify" align="left"><font style="FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: times new roman">A
      Participant who commits an act involving<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: times new roman">
      </font>moral turpitude that adversely affects the reputation or business
      of the Companies shall forfeit any Performance Grant.&#160; Examples of
      acts of moral turpitude include dishonesty or fraud involving the
      Companies, their employees, vendors or customers and violations of CSX&#8217;s
      Code of Ethics.</font></div>
              <div align="left">&#160;</div>
              <div style="MARGIN: 0in 0in 0pt; tab-stops: 9.0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: black; FONT-STYLE: italic; FONT-FAMILY: times new roman">Taxation
      of Performance Awards</font></div>
              <div align="left">&#160;</div>
              <div style="MARGIN: 0in 0in 0pt 0.5in; TEXT-ALIGN: justify; tab-stops: 9.0pt" align="left"><font style="FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: times new roman">Performance
      Awards will be paid in shares of CSX common stock.&#160; The value
      received by the Participant is taxable income, so CSX is required to
      withhold income taxes at the prescribed rates for both supplemental income
      and employment taxes at the time the Performance Awards are paid.&#160;
      Thus, CSX will withhold the minimum number of shares (in whole shares)
      equal in value to such required amount.&#160; No additional voluntary
      withholding amount is permitted.&#160; The following is an example of the
      withholding calculation:</font></div>
              <div align="left">&#160;</div>
              <div style="MARGIN: 0in 0in 0pt 0.5in; tab-stops: 9.0pt" align="left"><font style="FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: times new roman">Example:</font></div>
              <div align="left">&#160;</div>
              <div style="MARGIN: 0in 0in 0pt 1in; TEXT-INDENT: -0.25in; tab-stops: 9.0pt list 1.0in; mso-list: l0 level1 lfo1" align="left"><font style="FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: times new roman">&#9679;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      Assume the Performance Award earned is 300 shares.</font></div>
              <div style="MARGIN: 0in 0in 0pt 1in; TEXT-INDENT: -0.25in; tab-stops: 9.0pt list 1.0in; mso-list: l0 level1 lfo1" align="left"><font style="FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: times new roman">&#9679;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      Assume the stock price at payout is $60.00.</font></div>
              <div style="MARGIN: 0in 0in 0pt 1in; TEXT-INDENT: -0.25in; tab-stops: 9.0pt list 1.0in; mso-list: l0 level1 lfo1" align="left"><font style="FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: times new roman">&#9679;&#160;&#160;
      &#160;&#160;&#160;&#160; </font>Assume the aggregate income tax
      withholding rate and payroll tax is
32%.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div align="center">
      <table bgcolor="white" cellpadding="3" cellspacing="0" width="100%">
          <tr>
            <td align="left" width="9%" style="BORDER-LEFT: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            <td align="left" width="20%" style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Gross Performance
      Award</font></td>
            <td align="left" width="18%" style="BORDER-RIGHT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-BOTTOM: black 1px solid">
              <div style="TEXT-ALIGN: center" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">300
      shares</font></div>
            </td>
            <td align="left" width="20%" style="BORDER-RIGHT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-BOTTOM: black 1px solid">
              <div style="TEXT-ALIGN: center" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$18,000&#160;</font></div>
            </td>
            <td width="33%" style="BORDER-RIGHT: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
          </tr>
          <tr>
            <td align="left" width="9%" style="BORDER-LEFT: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            <td align="left" width="20%" style="BORDER-LEFT: black 1px solid; BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Stock
      Withholding</font></td>
            <td align="left" width="18%" style="BORDER-RIGHT: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-BOTTOM: black 1px solid">
              <div style="TEXT-ALIGN: center" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">96
      shares</font></div>
            </td>
            <td align="left" width="20%" style="BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid">
              <div style="TEXT-ALIGN: center" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$5,760</font></div>
            </td>
            <td width="33%" style="BORDER-RIGHT: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
          </tr>
          <tr>
            <td align="left" width="9%" style="BORDER-LEFT: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            <td align="left" width="20%" style="BORDER-LEFT: black 1px solid; BORDER-BOTTOM: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Performance
      Award</font></td>
            <td align="left" width="18%" style="BORDER-RIGHT: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-BOTTOM: black 1px solid">
              <div style="TEXT-ALIGN: center" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">204
      shares</font></div>
            </td>
            <td align="left" width="20%" style="BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid">
              <div style="TEXT-ALIGN: center" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;$12,240</font></div>
            </td>
            <td width="33%" style="BORDER-RIGHT: black 1px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
          </tr>
      </table>
    </div>
    <div align="center">
      <table bgcolor="white" cellpadding="20" cellspacing="0" width="100%">
          <tr>
            <td align="left" width="7%" style="BORDER-RIGHT: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-BOTTOM: black 1px solid">
              <div style="MARGIN: 0in 0in 0pt 0.5in; tab-stops: 9.0pt" align="left"><font style="FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: times new roman">Participants
      in the CSX Executive Deferred Compensation Plan may defer receipt of
      Performance Awards.</font></div>
              <div align="left">&#160;</div>
              <div style="MARGIN: 0in 0in 0pt 0.5in" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: times new roman">No
      Performance Award is considered earned under the Plan until the
      Compensation Committee approves the payout.</font></div>
              <div align="left">&#160;</div>
              <div align="left"><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">Plan
      Administration</font></div>
              <div align="left">&#160;</div>
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify" align="left"><font style="FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: times new roman">The
      Senior Vice President - Human Resources and Labor Relations of CSX shall
      be the Plan Administrator and shall interpret and construe the provisions
      of the Plan subject to the terms of the CSX Omnibus Incentive Plan and the
      Compensation Committee&#8217;s authority and responsibility under the CSX
      Omnibus Incentive Plan and Internal Revenue Code Section
      162(m).</font></div>
              <div align="left">&#160;</div>
              <div style="MARGIN: 0in 0in 0pt" align="left"><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">Plan
      Amendments and Termination</font></div>
              <div align="left">&#160;</div>
              <div align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Consistent
      with Internal Revenue Code Section 162(m),<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>the Compensation
      Committee reserves the right to terminate, adjust, amend, or suspend the
      Plan at any time and at its sole discretion.</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3</font></div>
              </div>
            </td>
          </tr>
      </table>
    </div>
    <div>&#160;</div>
    <div>
    </div>
    <div>&#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">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: #0000ff" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div align="left">
          <table cellpadding="20" cellspacing="0" width="100%">
              <tr>
                <td align="left" valign="top" width="100%" style="BORDER-RIGHT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Claw Back
      Provision</font></font></div>
                  <div style="DISPLAY: block; TEXT-INDENT: 0pt" align="left"><br></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
      Claw Back Provision discussed herein applies only to Participants in Band
      10 and above (including retirees from Band 10 and above).</font></div>
                  <div style="DISPLAY: block; TEXT-INDENT: 0pt" align="left"><br></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">If
      such Participant receives a Performance Award, the following terms and
      conditions shall apply for the subsequent two-year period from the payout
      (whether or not such Participant continues to be employed by the
      Company).</font></div>
                  <div style="DISPLAY: block; TEXT-INDENT: 0pt" align="left"><br></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Such
      Participants, shall</font></div>
                </td>
              </tr>
          </table>
        </div>
        <div align="left">
          <table cellpadding="0" cellspacing="0" width="100%">
              <tr>
                <td valign="top" width="5%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="4%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(i)</font></div>
                </td>
                <td valign="top" width="89%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">not,
      without written Company consent, work for a Class I railroad in a capacity
      similar to the function performed over the 5 years prior to termination;
      or for a customer or supplier for whom the Participant has had direct work
      responsibility in the prior 12 months in a capacity similar to the
      functions performed over the&#160;5 years prior to
      termination;</font></div>
                </td>
                <td valign="top" width="2%" style="BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr>
              <tr>
                <td valign="top" width="5%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="4%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(ii)</font></div>
                </td>
                <td valign="top" width="89%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">not,
      without written Company consent, solicit employees to work for a
      competitor in a capacity similar to such solicited employee&#8217;s
      capacity;</font></div>
                </td>
                <td valign="top" width="2%" style="BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr>
              <tr>
                <td valign="top" width="5%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="4%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(iii)</font></div>
                </td>
                <td valign="top" width="89%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">not,
      without written Company consent, solicit the Companies&#8217; customers on
      behalf of a competitor;</font></div>
                </td>
                <td valign="top" width="2%" style="BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr>
              <tr>
                <td valign="top" width="5%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="4%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(iv)</font></div>
                </td>
                <td valign="top" width="89%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">not,
      without written Company consent, act in a manner adversarial or in any way
      contrary to the best interests of the Company; (for example, testifying as
      an expert witness or becoming associated with a union or law firm that
      takes positions adverse to the Companies);</font></div>
                </td>
                <td valign="top" width="2%" style="BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr>
              <tr>
                <td valign="top" width="5%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="4%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(v)</font></div>
                </td>
                <td valign="top" width="89%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">provide
      the Company with information or documentation showing compliance with
      conditions (i), (ii), (iii), and (iv) stated above, if requested by the
      Plan Administrator.</font></div>
                </td>
                <td valign="top" width="2%" style="BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr>
          </table>
        </div>
        <div align="left">
          <table cellpadding="20" cellspacing="0" width="100%">
              <tr>
                <td align="left" valign="top" width="5%" style="BORDER-RIGHT: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-BOTTOM: black 1px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">If
      a Participant breaches any of the conditions set forth above in this Claw
      Back Provision, the Participant shall repay to the Company an amount equal
      to value of the Performance Award.&#160;&#160;The value of the Performance
      Award is measured by the amount reported on Form W-2 for tax
      purposes.&#160;&#160;Any amount due hereunder shall be paid by the
      Participant within thirty (30) days of notice by the Company to the
      Participant that the Participant has breached a condition stated
      above.</font></div>
                  <div style="DISPLAY: block; TEXT-INDENT: 0pt" align="left"><br></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">In
      the event of Company accounting irregularities discovered within 2 years
      after receipt of Performance Awards, which requires the Company to
      materially restate its financial statements, the Participant shall repay
      all amounts in excess of the proper Award as determined under the restated
      financial statements.</font></div>
                  <div style="DISPLAY: block; TEXT-INDENT: 0pt" align="left"><br></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">By
      accepting a Performance Award, the Participant authorizes the Company to
      withhold, to the extent permitted by law, the amount it may otherwise owe
      to the Participant in any other capacity whatsoever. In cases where all or
      part of the Performance Award is deferred under the CSX Executive Deferred
      Compensation Plan, breach of these conditions shall result in an immediate
      forfeiture of the portion deferred&#8212;including any earnings thereon from the
      date of deferral.</font></div>
                  <div style="DISPLAY: block; TEXT-INDENT: 0pt" align="left"><br></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
      Claw Back provision shall not survive any change in control event as
      defined in the CSX Omnibus Incentive Plan ocurring during the
      Cycle.</font></div>
                  <div style="DISPLAY: block; TEXT-INDENT: 0pt" align="left"><br></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Consideration for
      Noncompete Agreement</font></font></div>
                  <div style="DISPLAY: block; TEXT-INDENT: 0pt" align="left"><br></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">In
      consideration for eligibility under this 2008&#8211;2010 LTIP, Employees in Band
      10 and above,&#160;&#160;must enter into a noncompete agreement, if not
      already in effect, as prescribed and agreed to by
      CSX.&#160;&#160;Eligibility in the 2008&#8211;2010 LTIP for Employees in Band 10
      and above is conditioned upon the existence of such noncompete
      agreement.</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4</font></div>
                </td>
              </tr>
          </table>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; 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">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: #0000ff" 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; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div align="center">
          <table bgcolor="white" cellpadding="20" cellspacing="0" width="100%">
              <tr>
                <td width="100%" style="BORDER-RIGHT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-BOTTOM: black 1px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">Miscellaneous</font></font></div>
                  <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: times new roman">The
      adoption of the 2008&#8211;2010 LTIP does not imply any commitment to continue
      the Plan or any other long term incentive compensation plan for any
      succeeding year or period. Neither the Plan, nor any Performance Grant or
      Performance Award made under the Plan shall create any employment contract
      or relationship between the Companies and any Participant.</font></div>
                  <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
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                        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exhibit
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                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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    <div>&#160;</div>
    <div>&#160;</div>
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