<SEC-DOCUMENT>0000950103-17-003673.txt : 20170711
<SEC-HEADER>0000950103-17-003673.hdr.sgml : 20170711
<ACCEPTANCE-DATETIME>20170420161221
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000950103-17-003673
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20170420

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:			1225

	FILING VALUES:
		FORM TYPE:		CORRESP

	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>CORRESP
<SEQUENCE>1
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<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">April 20, 2017</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B><U>VIA E-MAIL AND EDGAR</U></B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Mr. Nicholas P. Panos</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Division of Corporation Finance</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">United States Securities and Exchange
Commission</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">100 F Street, N.E.</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Washington, DC 20549</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-size: 10pt">Re:</FONT></TD><TD><FONT STYLE="font-size: 10pt">CSX Corporation<BR></FONT><P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Preliminary Proxy
Statement filed under EDGAR Tag PRE 14A</FONT></P>
<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Filed April 3,
2017 by CSX Corp.</FONT></P>
<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">File No. 001-08022</FONT></P>

</TD>
</TR></TABLE>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Dear Mr. Panos:</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">CSX
Corporation (&ldquo;CSX&rdquo; or the &ldquo;Company&rdquo;) is writing in response to the Staff&rsquo;s comment letter dated
April 12, 2017 with respect to the above-referenced filing. CSX believes this letter responds fully to the Staff&rsquo;s comments.
For the convenience of the Staff, each comment is set forth below, followed by the Company&rsquo;s response. This letter is being
filed electronically via the EDGAR system today concurrently with the filing of the Company&rsquo;s definitive proxy statement.</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B><U>Item 4: Advisory (Non-Binding)
Vote on the Frequency of Future Advisory Votes&hellip;.Page 81</U></B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-size: 10pt"><B>1. Disclose the current
frequency of shareholder advisory votes on executive compensation, or advise. See Item 24 of Schedule 14A.</B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B><U>CSX Response</U></B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-size: 10pt">In the section titled
&ldquo;Item 4: Advisory (Non-Binding) Vote on the Frequency of Future Advisory Votes on the Compensation of CSX&rsquo;s Named
Executive Officers&rdquo; in the definitive proxy statement, we added the following sentence to the end of the third paragraph
of such section:</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in"><FONT STYLE="font-size: 10pt">&ldquo;We currently
hold our advisory vote on executive compensation every year, as our Board had last recommended, and our shareholders had
approved in 2011.&rdquo;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B><U>Item 5: Advisory (Non-Binding)
Vote Concerning Reimbursement Arrangements&hellip;. Page 82</U></B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-size: 10pt"><B>2. Advise us, with
a view toward revised disclosure, what consideration has been given to the application of Item 10 of Schedule 14A to this proposal.
Refer to Instruction 1 of Item 10.</B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B><U>CSX Response</U></B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-size: 10pt">CSX considered
the application of Item 10 of Schedule 14A, however, as Item 5 involves an advisory non-binding vote of shareholders and CSX
is not required to submit the matter at issue under Item 5 to a shareholder vote, CSX concluded that Item 18 of Schedule
14A governs with respect to the disclosure required. Item 18 requires the registrant to state, among other things,
&ldquo;what action is intended to be taken by the registrant in the event of a negative vote on the matter by the
security holders.&rdquo; The Company&rsquo;s Board of Directors has had extensive discussions regarding the Reimbursement (as
defined in the definitive proxy statement), however, at this time, the Board has not determined what action it intends to take in the
event of a negative vote on the matter by the security holders. The Board will take into account the facts and circumstances
at the time, including the outcome of the shareholder vote on the matter.</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-size: 10pt">Accordingly, in the
section titled &ldquo;Item 5: Advisory (Non-Binding) Vote Concerning Reimbursement Arrangements Sought in Connection with Retention
of E. Hunter Harrison as CEO at CSX&rdquo; in the definitive proxy statement, we amended and restated the second to last paragraph
as follows:</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in; text-indent: 0in"><FONT STYLE="font-size: 10pt">&ldquo;The
Company&rsquo;s Board of Directors has had extensive discussions regarding the Reimbursement, however, at this time the Board
has not determined what action it intends to take or will take if the resolution does or does not receive majority support from
shareholders. The resolution is advisory, and after shareholders have voted the Board intends to act promptly and to take into
account the facts and circumstances at the time, including the outcome of the shareholder vote on the resolution, in the exercise
of its fiduciary duties with respect to whether to commit to the Reimbursement. Under the MR Agreement, the Company has agreed
that within 15 days following the Annual Meeting it will make a determination with respect to the Reimbursement.&rdquo;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B><U>Form of Proxy</U></B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-size: 10pt"><B>3. Please advise
us, with a view toward revised disclosure, how the participants fulfilled their disclosure obligations under Rule 14a-4(e). At
present, the form of proxy simply reads, in apparent response to Rule 14a-4(e), &ldquo;[i]f no direction is made&hellip;&rdquo;
Such disclosure, however, could be interpreted only as a qualification on the potential use of the discretionary authority available
under Rule 14a-4(b). In order to fulfill their disclosure obligations under Rule 14a-4(e), the participants should affirmatively
disclose in the form of proxy and/or the proxy statement that the shares represented by the proxies will be voted as instructed.</B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B><U>CSX Response</U></B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-size: 10pt">In the form of proxy
included in the definitive proxy statement, the following sentence was added at the beginning of the second paragraph:</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;The
proxy will be voted as directed.&rdquo;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">We acknowledge that the Company
and the participants are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments
or absence of action by the Staff.</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Please direct any questions or
comments to our counsel at Davis Polk &amp; Wardwell LLP, George R. Bason, Jr. and Marc O. Williams at 212-450-4340 and 212-450-6145,
respectively.</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Very truly
yours,</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><U>/s/ Ellen
M. Fitzsimmons</U></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Ellen M.
Fitzsimmons</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Executive
Vice President, Law and Public Affairs, General Counsel and Corporate Secretary</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">CSX Corporation&#9;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>



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