{"id":40196,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/notice-of-non-qualified-stock-option-grant-csx-corp-and-john.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"notice-of-non-qualified-stock-option-grant-csx-corp-and-john","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/notice-of-non-qualified-stock-option-grant-csx-corp-and-john.html","title":{"rendered":"Notice of Non-Qualified Stock Option Grant &#8211; CSX Corp. and John W. Snow"},"content":{"rendered":"<pre>                          CSX OMNIBUS INCENTIVE PLAN\n                  Notice of Non-Qualified Stock Option Grant\n \nJohn W. Snow                            Grant Date:           July 16, 2001\n                                        Options Granted:      800,000\n                                        Option Price:         $38.775\n                                        Expiration Date:      July 16, 2011\n\n\nCSX Corporation (\"CSX\") has granted to you non-qualified stock options\n(\"Options\") to purchase CSX common stock.  Your grant has been made pursuant to\nCSX's Omnibus Incentive Plan (the \"Plan\"), which, together with the terms\ncontained in this Notice, sets forth terms and conditions of your grant and is\nincorporated herein by reference.  A copy of the Plan is available on the CSX\nintranet (http:\/\/csxnet) under \"Incentive Plans.\" You should review the terms of\n          -------------                                                         \nthis Notice and the Plan carefully.  The capitalized terms used in this Notice\nare defined in the Plan, except where it is indicated that such terms have the\nmeaning given in the Employment and Consulting Agreement dated as of July 11,\n2001 between you and CSX (the \"Service Agreement\").  Unless you notify the CSX\nCorporate Secretary in writing that you do not accept the Option, you will be\ndeemed to have agreed to the terms of this Notice and the terms of the Plan.\nCSX reserves the right to terminate, change or amend the Plan at any time.\nReceipt of this grant does not obligate CSX to make any additional grants to\nyou.\n\nVesting and Exercisability:\nThe Options may be exercised only when vested.  Subject to the terms of the Plan\nand the provisions below, all of the Options will become vested on the date of\n2004 Annual Meeting (as defined in the Service Agreement) and will expire on\nJuly 16, 2011.\n\nIn addition, the Options will become fully vested immediately upon a Change in\nControl.\n\nAny termination of your employment, other than a termination by CSX for Cause,\nwill be treated as a Retirement (including without limitation a termination\nbecause of your death or Disability), with the results that (i) the Options will\ncontinue to vest as set forth above (if they have not previously vested) and\n(ii) you (or your estate) will have until the expiration date to exercise any\nvested Options.\n\nIf there occurs an Early Termination by CSX for Cause, all your rights under the\nOptions that have not yet been exercised (whether or not they have previously\nvested) shall be null and void immediately with no further action by CSX.\n\nExercise:\nYou may exercise these Options, in whole or in part, to purchase a whole number\nof vested shares at any time by following the exercise procedures established by\nCSX.  All exercises must take place before the expiration date, or such earlier\ndates as established by this Notice or the Plan.  An exercise of Options\ngenerates federal and applicable state income and employment tax withholding\nobligations. The full purchase price of the shares being purchased through\nexercise of Options and the related withholding taxes for federal, state or\nlocal jurisdictions must be paid to CSX at the time of an exercise of Options.\nFor further information regarding procedures for exercising Options, you should\ncontact the CSX Corporate Secretary's Office at 804-782-1436 (RNX 422).\n\nRestrictions on Exercise:\nYour ability to exercise the Options is subject to any restrictions or\nrequirements imposed by law or by CSX upon its senior executives generally.\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-40196","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\/40196","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=40196"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=40196"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=40196"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=40196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}