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CSXT, Locomotive Engineers Reach Tentative Agreement

8/7/2009 10:08:00 AM
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JACKSONVILLE, Fla., Aug. 7 /PRNewswire-FirstCall/ -- CSX Transportation Inc. and the Brotherhood of Locomotive Engineers and Trainmen have reached a tentative agreement on a five-year extension to a combined wage and performance bonus package.

In addition to wage increases, CSXT engineers will continue to be eligible for payments from a Performance Bonus Plan that links that portion of their compensation to company financial performance.

"This is an important evolution in the agreement that directly aligns the interests of our more than 5,000 locomotive engineers with company goals to meet the expectations of our customers and shareholders," said Lisa Mancini, senior vice president-human resources. "We applaud the vision of the BLET in reaching this extension to the agreement that rewards engineers when the company meets its financial and strategic goals."

The agreement extension is subject to ratification by BLET members, and includes competitive wage increases and higher bonus payout potential over a five-year period. The Performance Bonus Plan first went into effect for BLET members in 2007.

CSX Transportation Inc. is a principal operating company of CSX Corporation. CSX Corporation, based in Jacksonville, Fla., is one of the leading transportation companies, providing rail, intermodal and rail-to-truck transload services. The company's transportation network spans 21,000 miles with service to 23 eastern states and the District of Columbia, and connects to more than 70 ocean, river, and lake ports. More information about CSX Corporation and its subsidiaries is available at the company's web site, www.csx.com.

SOURCE CSX Transportation
CONTACT: Gary Sease of CSX Transportation
Web Site: http://www.csx.com