Execution
	Version
	 
	AMENDMENT NO. 9 TO
	TRANSFER AND ADMINISTRATION AGREEMENT
	THIS AMENDMENT NO. 9 TO TRANSFER AND ADMINISTRATION
	AGREEMENT
	(this “
	Amendment
	”),
	dated as of October 18, 2012, is by and among
	Thoroughbred
	Funding
	,
	Inc
	.
	, a Virginia corporation (the “
	SPV
	”),
	Norfolk
	Southern Railway Company
	, a Virginia corporation, as
	originator (in such capacity, the “
	Originator
	”), and as servicer (in
	such capacity, the “
	Servicer
	”), the “Conduit Investors” party hereto,
	the “Committed Investors” party hereto, the “Managing Agents” party hereto,
	THE BANK  OF TOKYO-MITSUBISHI UFJ, LTD., NEW
	YORK BRANCH
	, as the Administrative Agent for the Investors,
	CRC FUNDING, LLC
	(“
	CRC Funding
	”),
	CAFCO, LLC
	(“
	CAFCO
	”),
	CHARTA, LLC
	(“
	CHARTA
	”),
	CIESCO, LLC
	(“
	CIESCO
	”
	and, together with CRC Funding, CAFCO and CHARTA, collectively the “
	Citi
	Conduits
	” and each a “
	Citi Conduit
	”) and
	CITIBANK, N.A.
	(“
	Citi
	”). 
	Capitalized
	terms used herein and not otherwise defined herein shall have the meaning given
	to such terms in the Transfer and Administration Agreement (defined below).
	 
	WHEREAS, the SPV, the Servicer, NSC, the Conduit
	Investors, the Committed Investors, the Managing Agents and the Administrative
	Agent are parties to that certain Transfer and Administration Agreement dated
	as of November 8, 2007 (as amended, supplemented or otherwise modified as of
	the date hereof, the “
	Transfer and Administration Agreement
	”); and
	WHEREAS, the parties to the Transfer and
	Administration Agreement have agreed to amend the Transfer and Administration
	Agreement on the terms and conditions set forth herein;
	NOW, THEREFORE, in consideration of the premises set
	forth above, the terms and conditions contained herein, and for other good and
	valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
	the parties hereto agree as follows:
	Section 1.
	                
	Amendment to the Transfer and Administration Agreement
	. 
	Effective as of the date first written above and subject to the execution of
	this Amendment by the parties hereto and the satisfaction of the conditions
	precedent set forth in
	Section 2
	below, the Transfer and Administration
	Agreement is hereby amended as follows:
	1.1.
	           
	The definition of “Alternate Rate” set forth in Section 1.1 of the
	Transfer and Administration Agreement is hereby amended and restated in its
	entirety to read as follows:
	“
	Alternate
	Rate
	” means (i) with respect to the Investor Group for which Bank of
	America, N.A. is the Managing Agent for each day during any Rate Period for any
	Portion of Investment, an interest rate per annum equal to the LIBO Rate for
	such day plus the Used Fee Rate (as defined in the Fee Letter);
	provided,
	that
	, notwithstanding the foregoing, on any day during any Rate Period that
	any Portion of Investment is funded or maintained by one or more Committed
	Investors in any other Investor Group, the “Alternate Rate” under this clause
	(i) shall be the interest rate per annum set forth in clause (ii) hereof, and
	(ii) with respect to any other Investor Group for any Rate Period for any
	Portion of Investment, an interest rate per annum equal to the LIBO Rate plus
	2.00%.
	1.2.
	           
	The definition of “Commitment Termination Date” set forth in Section 1.1
	of the Transfer and Administration Agreement is hereby amended and restated in
	its entirety to read as follows:
	“
	Commitment Termination Date
	” means
	October 17, 2013, or such later date to which the Commitment Termination Date
	may be extended by the Committed Investors (in their sole discretion).
	1.3.
	           
	The definition of “CP Rate” set forth in Section 1.1 of the Transfer and
	Administration Agreement is hereby amended and restated in its entirety to read
	as follows:
	“
	CP Rate
	” means, for
	any Conduit Investor for any Rate Period for any Portion of Investment, the
	rate equivalent to the rate (or if more than one rate, the weighted average of
	the rates) of interest or discount accruing on all Commercial Paper issued by
	such Conduit Investor during such Rate Period
	plus
	if not
	included in the calculation of the foregoing rate or discount, any and all
	applicable issuing and paying agent fees and commissions of placement agents
	and commercial paper dealers in respect of such Commercial Paper and other
	costs associated with funding small or odd-lot amounts;
	provided
	,
	however
	,
	that if the rate (or rates) as agreed between any such agent or dealer and such
	Conduit Investor is a discount rate (or rates), the “CP Rate” for such Conduit
	Investor for such Rate Period shall be the rate (or if more than one rate, the
	weighted average of the rates) resulting from the related Managing Agent’s
	converting such discount rate (or rates) to an interest-bearing equivalent rate
	per annum. On the fifth Business Day of each calendar month, each Managing
	Agent shall calculate the CP Rate for the most recently ended Rate Period and
	shall notify the SPV and the Servicer of such CP Rate.
	1.4.
	           
	Clause (e) of the definition of “Eligible Receivable” appearing in
	Section 1.1 of the Transfer and Administration Agreement is hereby amended to
	insert the word “not” immediately before the words “a Drummond Receivable”.
	1.5.
	           
	The definition of “JPMorgan CP Rate” appearing in Section 1.1 of the
	Transfer and Administration Agreement is hereby deleted in its entirety.
	1.6.
	           
	Clause (d)(iii) of Section 2.1 of the Transfer and Administration
	Agreement is hereby amended to delete the word “or” appearing immediately
	before clause (B) and insert the word “and” in the place thereof.
	1.7.
	           
	The first sentence of Section 2.7 of the Transfer and Administration
	Agreement is hereby amended and restated in its entirety to read as follows:
	All amounts to be paid or deposited by the SPV or the Servicer
	hereunder shall be paid or deposited in accordance with the terms hereof no
	later than 11:00 a.m. (New York City time) on the day when due in immediately
	available funds; if such amounts are payable to the Administrative Agent or any
	Managing Agent (whether on behalf of any Investor or otherwise) such amounts
	shall be paid or deposited in the account indicated for the Administrative
	Agent or such Managing Agent, as applicable, under the heading “Payment
	Information” on
	Schedule
	11.3 hereto
	, until otherwise notified by the Administrative Agent
	or such Managing Agent, as applicable.
	1.8.
	           
	The portion of clause (a) of Section 9.2 of the Transfer and
	Administration Agreement appearing before clause (i) thereof is hereby amended
	and restated in its entirety to read as follows:
	(a)        If
	after the Closing Date, any Regulatory Requirement:
	1.9.
	           
	Clause (a)(ii) of Section 9.2 of the Transfer and Administration
	Agreement is hereby amended to insert the phrase “assessment, fee, insurance
	charge,” immediately before the words “special deposit or similar requirement”.
	1.10.
	       
	The paragraph immediately following clause (iii) of Section 9.2(a) of
	the Transfer and Administration Agreement is hereby amended to (1) insert the
	phrase “, or to require any payment calculated by reference to the amount of
	interest or loans held or interest received by,” immediately after the words
	“any sum received or receivable by” and (2) delete the words “as will”
	appearing immediately before the words “compensate such Indemnified Party” and
	insert the phrase “charged to such Indemnified Party or such amounts to
	otherwise” in the place thereof.
	1.11.
	       
	Clause (b) of Section 9.2 of the Transfer and Administration Agreement
	is hereby amended and restated in its entirety to read as follows:
	(b)        If any Indemnified
	Party shall have determined that after the date hereof, any Regulatory
	Requirement, has or would have the effect of reducing the rate of return on
	capital or assets of such Indemnified Party (or its parent) as a consequence of
	such Indemnified Party's obligations hereunder or with respect hereto to a
	level below that which such Indemnified Party (or its parent) could have
	achieved but for such Regulatory Requirement (taking into consideration its
	policies with respect to capital adequacy) by an amount deemed by such
	Indemnified Party to be material, then from time to time, within ten (10) days
	after demand by such Indemnified Party through the Administrative Agent, the
	SPV shall pay to the Administrative Agent, for the benefit of such Indemnified
	Party, such additional amount or amounts as will compensate such Indemnified
	Party (or its parent) for such reduction.
	1.12.
	       
	Section 9.2 of the Transfer and Administration Agreement is hereby
	amended to add the following new paragraph immediately following clause (c)
	thereof:
	As used herein, “Regulatory
	Requirement” shall mean (i) the adoption after the Closing Date of any
	applicable Law (including any Law regarding capital adequacy or liquidity
	coverage) or any change therein after the Closing Date or (ii) any change after
	the Closing Date in the interpretation or administration of any applicable Law
	or compliance with any request or directive (whether or not having the force of
	law) of any Official Body charged with the interpretation or administration
	thereof, or compliance with any request or directive (whether or not having the
	force of law) of any such Official Body;
	provided
	, that for purposes of
	this definition (x) the United States bank regulatory rule titled
	Risk-Based
	Capital Guidelines; Capital Adequacy Guidelines; Capital Maintenance;
	Regulatory Capital; Impact of Modification to Generally Accepted Accounting
	Principles; Consolidation of Asset-Backed Commercial Paper Programs; and Other
	Related Issues
	adopted on December 15, 2009, (y) the Dodd-Frank Wall Street
	Reform and Consumer Protection Program Act and all requests, rules, guidelines
	or directives thereunder, issued in connection therewith or in implementation
	thereof, and (z) all requests, rules, guidelines and directives promulgated by
	the Bank for International Settlements, the Basel Committee on Banking
	Supervision (or any successor or similar authority) or the United States or
	foreign regulatory authorities, shall in each case be deemed to be a
	“Regulatory Requirement”, regardless of the date enacted, adopted, issued or
	implemented.
	1.13.
	       
	Clause (a) of Section 9.4 of the Transfer and Administration Agreement
	is hereby amended and restated in its entirety to read as follows:
	(a)
	               
	The SPV agrees, upon receipt of a written invoice, to pay or cause to be
	paid, and to save the Investors and the Agents harmless against liability for
	the payment of, all reasonable out-of-pocket expenses (including attorneys’,
	accountants’ and other third parties’ fees and expenses, any filing fees and
	expenses incurred by officers or employees of any Investor and/or the Agents
	and rating agency fees) or intangible, documentary or recording taxes incurred
	by or on behalf of any Investor or the Agents (i) in connection with the
	preparation, negotiation, execution and delivery of this Agreement, the other
	Transaction Documents and any documents or instruments delivered pursuant
	hereto and thereto and the transactions contemplated hereby or thereby
	(including the perfection or protection of the Asset Interest) and (ii) from
	time to time (A) relating to any amendments, waivers or consents under this
	Agreement and the other Transaction Documents, (B) arising in connection with
	any Investor’s or the Agents’ enforcement or preservation of rights (including
	the perfection and protection of the Asset Interest under this Agreement), or
	(C) arising in connection with any audit, dispute, disagreement, litigation or
	preparation for litigation involving this Agreement or any of the other
	Transaction Documents (all of such amounts, collectively, “
	Transaction
	Costs
	”).
	1.14.
	       
	Section 11.2 of the Transfer and Administration Agreement is hereby
	amended to add the following as new clause (d) thereof:
	(d)        Each
	Conduit Investor (or its Managing Agent on its behalf) shall, to the extent
	required, under a Liquidity Agreement or otherwise, provide written notice of
	any amendment, modification or waiver in respect of this Agreement to Moody’s,
	S&P or any other rating agency engaged to rate the commercial paper of such
	Conduit Investor.
	1.15.
	       
	Each instance of the phrase “either Managing Agent” appearing in the
	Transfer and Administration Agreement is hereby replaced with the phrase “any
	Managing Agent”.
	1.16.
	       
	Schedule II of the Transfer and Administration Agreement is hereby
	amended and restated in its entirety as set forth on
	Schedule I
	hereto.
	1.17.
	       
	Schedule IV of the Transfer and Administration Agreement is hereby
	amended and restated in its entirety as set forth on
	Schedule II
	hereto.
	1.18.
	       
	Schedule 11.3 of the Transfer and Administration Agreement is hereby
	amended and restated in its entirety as set forth on
	Schedule III
	hereto.
	Section 2.
	                
	Conditions Precedent
	.  This Amendment shall become effective as
	of the date hereof (the “
	Effective Date
	”) upon:
	2.1.
	           
	the receipt by the Administrative Agent of this Amendment and the Fee
	Letter, dated as of the Effective Date (the “
	Fee Letter
	”), duly executed
	by the parties hereto and thereto;
	2.2.
	           
	the receipt (i) Chariot by of the amounts to be paid to Chariot by
	Victory and CRC Funding pursuant to the last sentence of Section 3.1 and (ii)
	by BofA of the amount to be paid by Victory to BofA pursuant to the last
	sentence of Section 3.1, in each case, by wire transfer of immediately
	available funds to the account specified by the applicable payee;
	2.3.
	           
	the receipt by JPM, for its own account and for the account of Chariot,
	of an amount equal to $84,808.78, constituting all accrued Yield, fees and
	other Aggregate Unpaids owing to JPM, as Managing Agent and Committed Investor,
	and Chariot, as Conduit Investor, as of the date hereof (collectively, the “
	Outstanding
	JPM Amounts
	”), by wire transfer of immediately available funds to the
	account specified by JPM to the SPV;
	provided
	, that JPM and the SPV
	shall perform a reconciliation within thirty (30) days of the date hereof, and
	if the Outstanding JPM Amounts do not equal $84,808.78, then either (i) the SPV
	shall pay to JPM any amount by which the Outstanding JPM Amounts exceed
	$84,808.78 or (ii) JPM shall pay to the SPV any amount by which the Outstanding
	JPM Amounts are less than $84,808.78;
	2.4.
	           
	the receipt by each Managing Agent of the upfront fee required to be
	paid pursuant to the Fee Letter to such Managing Agent by wire transfer of
	immediately available funds to the account specified in the Fee Letter for such
	Managing Agent; and
	2.5.
	           
	the receipt by the Administrative Agent and each Managing Agent,
	including Citi, of each of the other items listed on
	Schedule IV
	hereto,
	each in form and substance satisfactory to the Administrative Agent and each
	Managing Agent.
	Section 3.
	                
	Assignment and Assumption
	.
	3.1.
	           
	Effective as of the Effective Date, in each case, without recourse and
	without representation and warranty, (x) each of Chariot Funding LLC (“
	Chariot
	”)
	and Bank of America, N.A. (“
	BofA
	”) hereby sells and assigns to Victory Receivables
	Corporation (“
	Victory
	”), and Victory hereby purchases and assumes from
	each of Chariot and BofA, a 6.6667% portion of all of Chariot’s and BofA’s
	respective rights and obligations under the Transfer and Administration
	Agreement and the other Transaction Documents (except, in the case of BofA, for
	any of its obligations as Committed Investor, including, without limitation,
	its Commitment), and (y) Chariot hereby sells and assigns to CRC Funding, and
	CRC Funding hereby purchases and assumes from Chariot, a 93.3333% portion of
	all of Chariot’s rights and obligations under the Transfer and Administration
	Agreement and the other Transaction Documents.  In consideration of the
	foregoing sales and assignments, (i) Victory shall make a payment of (A) $2,380,952.29
	to Chariot and (B) $2,380,952.29 to BofA and (ii) CRC Funding shall make a
	payment of $33,333,333.42 to Chariot, each such payment to be made in
	immediately available funds to the account of the applicable payee as such
	payee shall direct.
	3.2.
	           
	Effective as of the Effective Date, in each case, without recourse and
	without representation and warranty, (x) each of JPMorgan Chase Bank, N.A. (“
	JPM
	”),
	in its capacity as a Committed Investor, and BofA, in its capacity as a
	Committed Investor, hereby sells and assigns to BTMU, in its capacity as a
	Committed Investor, and BTMU, in its capacity as a Committed Investor, hereby
	purchases and assumes from each of JPM and BofA, a 6.6667% portion of all of
	JPM’s and BofA’s respective rights and obligations under the Transfer and
	Administration Agreement and the other Transaction Documents, in its capacity
	as Committed Investor (except, in the case of BofA, for its rights assigned to
	Victory pursuant to Section 3.1 hereof), and (y) JPM, in its capacity as a
	Committed Investor, hereby sells and assigns to Citi, in its capacity as a
	Committed Investor, and Citi, in its capacity as a Committed Investor, hereby
	purchases and assumes from JPM, in its capacity as Committed Investor, a
	93.3333% portion of all of JPM’s rights and obligations under the Transfer and
	Administration Agreement and the other Transaction Documents, in its capacity
	as a Committed Investor.  After giving effect to the foregoing sales and
	assignments, the Commitments of the Committed Investors will be as set forth on
	Schedule III
	of the Transfer and Administration Agreement as amended
	hereby.
	3.3.
	           
	Each of Chariot, JPM and BofA (i) represents and warrants that it is the
	legal and beneficial owner of the interest being assigned by it hereunder and
	that such interest is free and clear of any Adverse Claim; (ii) makes no
	representation or warranty and assumes no responsibility with respect to any
	statements, warranties or representations made in or in connection with the
	Agreement, any other Transaction Document or any other instrument or document
	furnished pursuant thereto or the execution, legality, validity,
	enforceability, genuineness, sufficiency or value of the Agreement or the
	Receivables, any other Transaction Document or any other instrument or document
	furnished pursuant thereto; and (iii) makes no representation or warranty and
	assumes no responsibility with respect to the financial condition of any of the
	SPV, the Servicer, NSC or the Originator or the performance or observance by
	any of the SPV, the Servicer, NSC or the Originator of any of its obligations
	under the Agreement, any other Transaction Document, or any instrument or
	document furnished pursuant thereto.
	3.4.
	           
	Each of the Citi Conduits and Citi (i) confirms that it has received a
	copy of the Agreement and the First Tier Agreement together with copies of the
	financial statements referred to in Section 6.1(a) of the Agreement, to the
	extent delivered through the date hereof, and such other documents and
	information as it has deemed appropriate to make its own credit analysis and
	decision to enter into this Amendment; (ii) agrees that it will, independently
	and without reliance upon the Administrative Agent, any of its Affiliates, any
	other Committed Investor or Conduit Investor, or any Managing Agent and based
	on such documents and information as it shall deem appropriate at the time,
	continue to make its own credit decisions in taking or not taking action under
	the Agreement and any other Transaction Document; (iii) (A) appoints and
	authorizes the Administrative Agent to take such action as agent on its behalf
	and to exercise such powers and discretion under the Agreement and the other
	Transaction Documents as are delegated to the Administrative Agent by the terms
	thereof, together with such powers and discretion as are reasonably incidental
	thereto and (B) appoints and authorizes Citi to act as Managing Agent for the
	related Investor Group and to take such action as agent on its behalf and to
	exercise such powers and discretion under the Agreement and the other
	Transaction Documents as are delegated to a Managing Agent by the terms
	thereof, together with such powers and discretion as are reasonably incidental
	thereto; and (iv) agrees that it will perform in accordance with their terms
	all of the obligations which by the terms of the Agreement are required to be
	performed by it as a Conduit Investor or Committed Investor, as applicable.
	3.5.
	           
	Effective as of the Effective Date, (i) each of CRC Funding, LLC, CAFCO,
	LLC, CHARTA, LLC and CIESCO, LLC shall be a party to the Agreement and, to the
	extent provided in this Section 3, have the rights and obligations of a Conduit
	Investor thereunder, (ii) Citi shall be a party to the Agreement and, to the
	extent provided in this Section 3, have the rights and obligations of a
	Committed Investor thereunder, (iii) there shall be a new Investor Group
	consisting of CRC Funding, LLC, CAFCO, LLC, CHARTA, LLC and CIESCO, LLC as the
	Conduit Investors, Citi as the Committed Investor and Citi as Managing Agent,
	(iv) Chariot, JPM and BofA shall, to the extent of the foregoing assignments,
	relinquish their respective rights and be released from their respective
	obligations under the Agreement, and (v) Chariot, as Conduit Investor, and JPM,
	as Committed Investor and as Managing Agent shall cease to be party to the
	Agreement and shall have no further rights or obligations thereunder;
	provided
	that the provisions of Article IX and Sections 11.11 and 11.12 of the Transfer
	and Administration Agreement shall continue in effect for their benefit in
	respect of any actions taken or omitted to be taken by any of them as “Conduit
	Investor”, “Committed Investor” or “Managing Agent”, as applicable, under the
	Transfer and Administration Agreement and the other Transaction Documents prior
	to the Effective Date. 
	3.6.
	           
	From and after the Effective Date, the Administrative Agent shall make
	all payments under the Agreement in respect of the interest assigned hereby
	(including, without limitation, all payments in respect of such interest in Net
	Investment, Yield and fees) to the applicable assignees. The assignors and
	assignees shall make all appropriate adjustments in payments under the
	Agreement for periods prior to the Effective Date directly between themselves.
	Section 4.
	                
	Representations and Warranties
	.
	4.1.
	           
	Each of the SPV and the Originator hereby represents and warrants that:
	(a)
	               
	This Amendment, the Transfer and Administration Agreement, as amended
	hereby, and the First Tier Agreement, constitute legal, valid and binding
	obligations of such parties and are enforceable against such parties in
	accordance with their terms.
	(b)
	              
	Upon the effectiveness of this Amendment and after giving effect hereto,
	the covenants, representations and warranties of each such party, respectively,
	set forth in Articles IV and VI of the Transfer and Administration Agreement,
	as applicable, and as amended hereby, are true and correct in all material
	respects as of the date hereof.
	(c)
	               
	The SPV hereby represents and warrants that, upon the effectiveness of
	this Amendment, no event or circumstance has occurred and is continuing which
	constitutes a Termination Event or a Potential Termination Event.
	Section 5.
	                
	Reference to and Effect on the Transfer and Administration Agreement
	.
	5.1.
	           
	Upon the effectiveness of this Amendment, on and after the date hereof,
	each reference in the Transfer and Administration Agreement to “this
	Agreement,” “hereunder,” “hereof,” “herein” or words of like import shall mean
	and be a reference to the Transfer and Administration Agreement and its
	amendments, as amended hereby.
	5.2.
	           
	The Transfer and Administration Agreement, as amended hereby, and all
	other amendments, documents, instruments and agreements executed and/or
	delivered in connection therewith, shall remain in full force and effect, and
	are hereby ratified and confirmed.
	5.3.
	           
	Except as expressly provided herein, the execution, delivery and
	effectiveness of this Amendment shall not operate as a waiver of any right,
	power or remedy of the Conduit Investors, the Committed Investors, the Managing
	Agents or the Administrative Agent, nor constitute a waiver of any provision of
	the Transfer and Administration Agreement, any Transaction Document or any
	other documents, instruments and agreements executed and/or delivered in
	connection therewith.
	Section 6.
	                
	CHOICE OF LAW
	.      THIS AMENDMENT SHALL BE GOVERNED BY AND
	CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (WITHOUT
	REFERENCE TO THE CONFLICTS OF LAW PRINCIPLES THEREOF OTHER THAN SECTION 5-1401
	OF THE NEW YORK GENERAL OBLIGATIONS LAW).
	Section 7.
	                
	Execution of Counterparts
	.  This Amendment may be executed in any
	number of counterparts and by different parties hereto in separate
	counterparts, each of which when so executed shall be deemed to be an original
	and all of which taken together shall constitute one and the same agreement. 
	Delivery by facsimile of an executed signature page of this Amendment shall be
	effective as delivery of an executed counterpart hereof.
	Section 8.
	                
	Headings
	.  Section headings in this Amendment are included herein
	for convenience of reference only and shall not constitute a part of this
	Amendment for any other purpose.
	 [Signature pages follow.]
 
	In Witness
	Whereof
	,
	the parties hereto have executed and delivered this
	Amendment as of the date first written above.
	 
	THOROUGHBRED FUNDING, INC.
	,
	as SPV
	 
	 
	By:  
	/s/ Marta R. Stewart
	Name:  Marta R. Stewart
	Title:    Chairman and President
	 
	NORFOLK SOUTHERN RAILWAY COMPANY
	,
	as Originator and as Servicer
	 
	 
	By:  
	/s/ Marta R. Stewart
	Name:  Marta R. Stewart
	Title:    Vice President and Treasurer
	 
	NORFOLK SOUTHERN CORPORATION
	 
	 
	By:  
	/s/ Marta R. Stewart
	Name:  Marta R. Stewart
	Title:    Vice President and
	Treasurer
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	Signature Page to Amendment No. 9 to
	Transfer and Administration Agreement
	 
	JPMORGAN CHASE BANK, N.A.
	,
	as a Managing Agent and a
	Committed Investor
	 
	 
	By: 
	/s/ Corina Mills
	                       
	Name:  Corina Mills
	Title:    Executive Director
	 
	 
	CHARIOT FUNDING LLC
	,
	as a Conduit Investor
	 
	By:       JPMorgan Chase Bank, N.A.,
	            its Attorney-in-Fact
	 
	 
	By:  
	/s/ Corina Mills
	                     
	Name:  Corina Mills
	Title:    Executive Director
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	Signature Page to Amendment No. 9 to
	Transfer and Administration Agreement
	BANK OF AMERICA, NATIONAL ASSOCIATION
	,
	as a Managing Agent and a
	Committed Investor
	 
	 
	By: 
	/s/ Christopher Haynes
	               
	Name:  Christopher Haynes
	Title:    Vice President
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	Signature Page to Amendment No. 9 to
	Transfer and Administration Agreement
	Victory Receivables Corporation
	,
	as
	a Conduit Investor
	 
	 
	By: 
	/s/ David V. DeAngelis
	            
	Name:  David V. DeAngelis
	Title:    Vice President
	 
	 
	THE
	BANK OF TOKYO-MITSUBISHI UFJ, LTD.,
	NEW
	YORK BRANCH
	,
	as
	Administrative Agent and a Managing Agent
	 
	 
	By: 
	/s/ Christopher Pohl
	               
	Name:  Christopher Pohl
	Title:    Managing Director
	 
	 
	THE
	BANK OF TOKYO-MITSUBISHI UFJ, LTD.,
	NEW
	YORK BRANCH
	,
	as
	a Committed Investor
	 
	 
	By:
	/s/ Charles Stewart
	                
	Name:  Charles Stewart
	Title:    Director
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	Signature Page to Amendment No. 9 to
	Transfer and Administration Agreement
	 
	 
 
	CRC
	FUNDING, LLC
	, as a Conduit Investor
	 
	By: 
	Citibank, N.A.,
	       
	its attorney-in-fact
	 
	By:
	/s/
	Steffen Lunde
	                    
	Name:  Steffen
	Lunde
	Title:    Vice
	President 
	 
	 
	CAFCO,
	LLC
	, as a Conduit Investor
	 
	By: 
	Citibank, N.A.,
	       
	its attorney-in-fact
	 
	By:
	/s/
	Steffen Lunde
	                    
	Name:  Steffen
	Lunde
	Title:    Vice
	President
	 
	 
	CHARTA,
	LLC
	, as a Conduit Investor
	 
	By: 
	Citibank, N.A.,
	    
	   its attorney-in-fact
	 
	By:
	/s/
	Steffen Lunde
	                    
	Name:  Steffen
	Lunde
	Title:    Vice
	President
	 
	 
	CIESCO,
	LLC
	, as a Conduit Investor
	 
	By: 
	Citibank, N.A.,
	       
	its attorney-in-fact
	 
	By:
	/s/
	Steffen Lunde
	                    
	Name:  Steffen
	Lunde
	Title:  
	Vice President
	 
	 
	CITIBANK,
	N.A.
	,
	as
	a Managing Agent and a Committed Investor
	 
	 
	By:
	/s/ Steffen Lunde
	                 
	Name:  Steffen Lunde 
	Title:    Vice
	President
	 
	 
	 
	 
	Signature Page to Amendment No. 9 to
	Transfer and Administration Agreement
 
	Schedule I to Amendment No. 9 to
	Transfer and Administration Agreement
	 
	 
	SCHEDULE II
	Investor Groups
	 
	BTMU Investor Group
	 
	Conduit Investor:  Victory
	Receivables Corporation
	Committed Investor:  The Bank
	of Tokyo-Mitsubishi UFJ, Ltd., New York Branch
	Commitment of The Bank of
	Tokyo-Mitsubishi UFJ, Ltd., New York Branch:  $116,666,667
	Managing Agent:  The Bank of
	Tokyo-Mitsubishi UFJ, Ltd., New York Branch
	 
	 
	Bank of America
	Investor Group
	 
	Conduit Investor:  N/A
	Committed Investor:  Bank of
	America, N.A.
	Commitment of Bank of
	America, N.A.:  $116,666,667
	Managing Agent:  Bank of
	America, N.A.
	 
	 
	Citi Investor Group
	 
	Conduit Investors:  CRC
	Funding, LLC, CAFCO, LLC, CHARTA, LLC and CIESCO, LLC
	Committed Investor: 
	Citibank, N.A.
	Commitment of Citibank,
	N.A.:  $116,666,666
	Managing Agent: Citibank,
	N.A.
	 
 
	Schedule II to Amendment No. 9 to
	Transfer and Administration Agreement
	 
	 
	Schedule IV
	Special Concentration
	Limits
	 
| 
	Obligor Name
 | 
	Concentration Limit
 | 
| 
	J.B. Hunt Transport Service, Inc.
 | 
	6.00%
 | 
| 
	Duke Energy Corporation
 | 
	5.00%
 | 
| 
	Archer Daniels Midland Company
 | 
	5.00%
 | 
	 
	 
	 
	 
	 
 
	Schedule III to Amendment No. 9 to
	Transfer and Administration Agreement
	 
	SCHEDULE 11.3
	Address
	and Payment Information
| 
	 
 |  | 
| 
	If to Bank of America:
 
	 
 
	214 North Tryon Street
 
	NC1-027-15-04
 
	Charlotte,  NC  28202
 
	Attn:  Securitization
	Finance Group
 
	Fax:  (980) 387-2828
 
	Tel:  (980) 388-9464
 
	 
 
	Payment Information:
 
	Bank of America, N.A.
 
	ABA:  026-009-593
 
	Account Name: Bilateral
	Clearing Acct.
 
	Ref: Thoroughbred Funding, Inc.
 
	Account Number: 004426457864
 
	 
 
	 
 
	If to Victory Receivables
	Corporation:
 
	 
 
	c/o
	The Bank of Tokyo-Mitsubishi UFJ, Ltd.,
 
	New
	York Branch
 
	1251
	Avenue of the Americas
 
	New
	York, New York 10020
 
	Attention:
	Securitization Group
 
	Fax:
	(212) 782-6448
 
	Tel: (212) 782-4911
 |  | 
| 
 
	 
 
	If to The Bank of
	Tokyo-Mitsubishi UFJ, Ltd.,
 
	New York Branch:
 
	 
 
	1251
	Avenue of the Americas
 
	New
	York, New York 10020
 
	Attention:
	Securitization Group
 
	Fax:
	(212) 782-6448
 
	Tel: (212) 782-4911
 
	 
 
	Payment Information:
 
	The Bank of Tokyo-Mitsubishi
	UFJ, Ltd.
 
	Account Title: VRC
 
	ABA: 026-009-632
 
	Account Number: 310-051-428
 
	Ref: Thoroughbred Funding
	Inc.
 
	 
 
	 
 |  | 
| 
	If to Citibank, N.A.:
 
	 
 
	390 Greenwich Street, 1st Floor
 
	New York, New York 10013
 
	Attn: Junette Earl
 
	Fax: (646) 843-3661
 
	Tel: (212) 723-3704
 |  | 
| 
	 
 
	Payment Information:
 
	Citibank NA
 
	ABA:  021000089
 
	Account Name CRC LLC REDEMPTION
	A/C
 
	Account Number: 40517805
 
	 
 |  | 
| 
	If to CRC Funding, LLC, CAFCO,
	LLC, CHARTA, LLC or CIESCO, LLC:
 
	 
 
	c/o Citibank, N.A.
 
	750 Washington Street
 
	Stamford, CT 06901
 
	Attn: Bob Kohl
 
	Fax: (914) 274-9038
 
	Tel: (203) 975-6383
 |  | 
| 
	 
 |  | 
| 
	If to the SPV:
 
	 
 |  | 
| 
	Thoroughbred Funding, Inc
 |  | 
| 
	Three Commercial Place
 |  | 
| 
	Norfolk, VA 23510
 |  | 
| 
	Telephone:
 | 
	(757) 629-2780
 |  | 
| 
	Facsimile:
 | 
	(757) 629-2361
 |  | 
| 
	 
 |  | 
| 
	Payment Information:
 |  | 
| 
	Wells Fargo Bank, National
	Association
 |  | 
| 
	ABA: 121000248
 |  | 
| 
	Account Number: 2000035260855
 |  | 
| 
	Ref:  Thoroughbred Funding Inc
	Norfolk, VA
 |  | 
| 
	 
 |  | 
| 
	If to the Originator, NSC or
	the Servicer:
 |  | 
| 
	 
 |  | 
| 
	Norfolk Southern Railway
	Company
 |  | 
| 
	Norfolk Southern Corporation
 |  | 
| 
	Three Commercial Place
 |  | 
| 
	Norfolk, VA 23510
 |  | 
| 
	Telephone:
 | 
	(757) 629-2780
 |  | 
| 
	Facsimile:
 | 
	(757) 629-2361
 
	 
 |  | 
| 
	 
 |  | 
| 
	If
	to the Administrative Agent:
 |  | 
| 
	 
 
	1251 Avenue of the Americas
 
	New York, New York 10020
 
	Attention: Securitization Group
 
	Fax: (212) 782-6448
 
	Tel:
	(212) 782-4911
 |  | 
| 
	 
 |  | 
| 
	Payment Information:
 
	The Bank of Tokyo-Mitsubishi
	UFJ, Ltd.
 
	Account Title: VRC
 
	ABA: 026-009-632
 
	Account Number: 310-051-428
 
	Ref: Thoroughbred Funding
	Inc.
 
	 
 | 
| 
	 
 | 
 
	Schedule IV to Amendment No. 9 to
	Transfer and Administration Agreement
	 
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