What is the primary purpose of the Consulting Agreement?

The primary purpose is to retain the expertise of Mr. John P. Rathbone in key business areas like strategic acquisitions, capital raising, and business strategy planning following his retirement.

What is the duration and cost of Mr. Rathbone's consulting services?

The initial term of the agreement is one year, with a renewal option for another year by mutual agreement. The fee for the initial one-year term is $550,000.

Are there any restrictions on Mr. Rathbone's activities after his consulting role?

Yes, Mr. Rathbone has agreed not to compete with Norfolk Southern or solicit its employees or customers for a period of three years following the consulting agreement.

NSC 8-K: Material Agreements

Summary

Norfolk Southern Corporation (NSC) has filed an amendment to its 8-K report, detailing a material definitive agreement entered into on September 20, 2013. The company has secured a one-year consulting agreement with Mr. John P. Rathbone, commencing upon his retirement. This agreement is designed to leverage Mr. Rathbone's expertise in critical areas such as strategic acquisitions and dispositions, capital raising, major financings, and business strategy planning.

Key Highlights

1Entry into a Material Definitive Agreement with John P. Rathbone.
2Consulting services to focus on strategic acquisitions, dispositions, capital raising, and business strategy.
3Agreement term is one year, with a potential for a one-year renewal.
4Mr. Rathbone agrees to a three-year non-competition and non-solicitation clause.
5Consulting fee for the initial one-year term is $550,000.
6The Consulting Agreement is filed as Exhibit 10.1.

NORFOLK SOUTHERN CORP 8-K/A Report, Material Agreement (Sep 24, 2013)

Summary

Key Highlights

Frequently Asked Questions