{"id":39044,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/employment-agreement-csx-corp-and-ronald-j-conway.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"employment-agreement-csx-corp-and-ronald-j-conway","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/employment-agreement-csx-corp-and-ronald-j-conway.html","title":{"rendered":"Employment Agreement &#8211; CSX Corp. and Ronald J. Conway"},"content":{"rendered":"<pre>\n\nJune 19, 1998\n\n\n\n                            PERSONAL AND CONFIDENTIAL\n\n\nMr. Donald D. Davis\nSenior Vice President-Employee Relations\nCSX Transportation\n500 Water Street\nJacksonville, FL 32202\n\nDear Don:\n\nThank you for the many courtesies  during my recent visit to CSX and your letter\nof June 11, 1998.\n\nI am most anxious to begin my employment with CSX and look forward to seeing you\non  Monday,  June  22,  1998,  to  begin  what  I am  confident  will  be a very\nchallenging and rewarding experience with CSX.\n\nThis letter  will  confirm my  understanding  of your oral offer and your letter\ndated June 11, 1998. I understand that effective June 22, 1998, I shall join CSX\nas Executive Vice President of Operations.  I understand  that CSX is committing\nto and will be compensating me on an annual basis for 1998,  1999, and 2000 with\na compensation  package totaling  $1,000,000 which includes base salary,  annual\nbonus, and annual performance share awards as detailed below.\n\n        ANNUAL BASE SALARY                  $300,000.00 paid yearly at the rate\n                                            of $25,000.00 per month\n\n        ANNUAL BONUS OPPORTUNITY            80% of annual earnings\n                                            ($240,000.00);   may   be  increased\n                                            by an  additional  25% if  CSX\n                                            exceeds  its  annual  financial\n                                            objectives.\n\n                                            If  deferred,  at my option,  in CSX\n                                            stock until  retirement\/termination,\n                                            a 25%  premium  will  be paid in the\n                                            form  of CSX  stock  on any  portion\n                                            deferred.\n\n\nDonald D. Davis\nJune 19, 1998\nPage 2\n\n\n\n        ANNUAL PERFORMANCE AND              8,000 to 10,000 Shares of CSX\n        SHARE AWARD                         stock to be awarded annually (actual\n                                            award will depend on  stock price at\n                                            time of award to produce annual\n                                            compensation of $1,000,000.00)\n\n        ANNUAL                              STOCK OPTION GRANT 20,000  Shares of\n                                            CSX  stock  options  to  be  awarded\n                                            annually.\n\nI also understand that other perquisites will include:\n\n        Executive  Automobile  Program  ($600.00 per month plus  insurance) Mayo\n        Clinic  Annual  Executive   Physical  Program  Country  Club  Membership\n        (initiation  fees and annual  dues at club of my choice)  Executive  Tax\n        Preparation  Program  through my  current  provider  CSX Hotel  Discount\n        Program (The Greenbrier and Grand Teton Lodge) Estate Planning  Services\n        through my current provider.\n\nIn  addition  to the above,  as an  employee  of CSX, I  understand  that I will\nreceive all other  employment  benefits  and be eligible to  participate  in all\nemployment  benefit  plans  ordinarily  and  customarily   provided  for  senior\nexecutives of CSX at a comparable level in the organization.\n\nFor purposes of my  participation  in the CSX Pension  Plan,  the three years of\npension  credit that I am entitled to receive  pursuant to my Conrail  Change of\nControl Agreement shall be credited to me.\n\nIf my employment is terminated by CSX at any time prior to January 1, 2001,  CSX\nshall provide me with  severance  pay and  continuation  of employment  benefits\nuntil  January  1,  2001 at the  same  level of total  annual  compensation  and\nemployment  benefits as I was receiving  immediately prior to the termination of\nmy employment.\n\n\nDonald D. Davis\nJune 19, 1998\nPage 3\n\n\nIf I have accurately summarized the employment terms being offered to me by CSX,\nplease sign a copy of this letter and return it to me.\n\nVery truly yours,\n\n\n\/s\/RONALD J. CONWAY\n-------------------\nRonald J. Conway\n\n\n\nUnderstood and Agreed\nby CSX Transportation\n\n\n\/s\/DONALD D. DAVIS\n------------------\nDonald D. Davis\nSenior Vice President-\nEmployee Relations\nCSX Transportation\n\n\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[7241],"corporate_contracts_industries":[9524],"corporate_contracts_types":[9539,9544],"class_list":["post-39044","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-csx-corp","corporate_contracts_industries-transportation__railroads","corporate_contracts_types-compensation","corporate_contracts_types-compensation__employment"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/39044","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=39044"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=39044"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=39044"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=39044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}