On October 2, 2019, CSX Corporation (the “Company”) announced the appointments of Kevin Boone as Executive Vice President and Chief Financial Officer and Jamie Boychuk as Executive Vice President of Operations. Ed Harris, who previously led the Operations function, will continue as Executive Vice President with a combination of operating and general executive responsibilities.

Mr. Boone had been serving as the Company’s interim chief financial officer since May of this year. In connection with Mr. Boone’s permanent appointment as Chief Financial Officer, he will receive an annual base salary of $475,000, a target annual incentive opportunity equal to 90% of his annual base salary, and a 2019 target long-term incentive opportunity equal to $2,000,000 comprised of 60% performance share units and 40% stock options. Mr. Boone’s 2019 long-term incentive opportunity will be pro-rated consistent with the terms of the Company’s 2019-2021 Long Term Incentive Plan.

Mr. Boone, age 42, joined CSX in September 2017 as Vice President of Corporate Affairs and Chief Investor Relations Officer. Prior to his appointment as the Company’s interim chief financial officer, he served most recently as Vice President of Marketing and Strategy, and led a new marketing team focused on fundamental market research and data analysis to identify and advance high-priority growth strategies. Kevin has a deep background as a seasoned investment analyst with over 18 years of experience in finance, accounting, mergers and acquisitions, and transportation performance analysis. He has held various positions in organizations such as Janus Capital, Morgan Stanley, Merrill Lynch and Ernst & Young. Kevin holds a Master’s Degree in Business Administration from the University of North Carolina and a Bachelor’s degree in Accounting from the University of Florida.

In connection with Mr. Boychuk’s appointment as Executive Vice President of Operations, he will receive an annual base salary of $500,000, a target annual incentive opportunity equal to 90% of his annual base salary, and a 2019 target long-term incentive opportunity equal to $2,000,000 comprised of 60% performance share units and 40% stock options. Mr. Boychuk’s 2019 long-term incentive opportunity will be pro-rated consistent with the terms of the Company’s 2019-2021 Long Term Incentive Plan.

Mr. Boychuk, age 41 joined CSX in 2017, and has held the positions of assistant vice president of transportation support; vice president of scheduled railroading; and most recently, senior vice president of network operations, mechanical, engineering and intermodal operations. He came to CSX from the Canadian National Railway, where he served for 20 years in various operational roles of increasing responsibility.

There is no arrangement or understanding between Mr. Boone or Mr. Boychuk and any other person pursuant to which either of them was selected as an officer. There are no family relationships between Mr. Boone or Mr. Boychuk and any director or executive officer of the Company, and neither Mr. Boone nor Mr. Boychuk is a party to any transaction in which the Company is a participant.

In connection with his ongoing role with the Company, Mr. Harris and the Company have entered into an amendment to his existing employment agreement. The amendment extends the term of Mr. Harris' existing employment agreement through the end of 2020, and provides that for 2020, he will receive an annual base salary of $500,000, a target annual incentive opportunity equal to 90% of his annual base salary, and a 2020 target long-term incentive opportunity equal to $1,600,000. The foregoing summary description of the amendment to Mr. Harris' employment agreement is qualified in its entirety by reference to the full text thereof, which is included as Exhibit 10.1 hereto.