Exhibit 10.11
  
   
    
    Your employment will continue through May 24, 2008. From the date hereof through May
9, 2008, you will continue to be compensated at your regular rate of earnings, in
accordance with the terms of the employment agreement between you and ACL, dated as of May
9, 2005, as amended effective August 1, 2006 (the Employment Agreement). On May 9, 2008,
the Employment Agreement will terminate in accordance with its terms and will not be
renewed. From May 9, 2008 to May 24, 2008, you will be compensated at a rate of $500
per day (Monday through Friday only). Following the close of business on May 24, 2008, your
employment with ACL as well as any of its affiliates or subsidiaries will be concluded
unless mutually agreed in writing by the parties hereto.Effective immediately, you will no longer have an office at the ACL corporate headquarters.
You will continue to report directly to the Chief Executive Officer of ACL and will perform
only those duties, including performing studies and analyses, as specifically directed by
the Chief Executive Officer.You acknowledge that the events surrounding your entering into this letter agreement do not
constitute a termination without cause or a termination by you for good reason as
defined in the Employment Agreement and that you will not be entitled to any of the benefits
described in Section 5.2 of the Employment Agreement (other than payment for accrued but
unpaid base salary (which shall in no event include any bonuses) and vacation).You further acknowledge that the events surrounding your entering into this letter agreement
do not constitute a termination without cause or a termination by you for good reason
under any of your equity award agreements or any company policies and that you will not be
entitled to accelerated vesting of any outstanding equity awards or payment of severance
under any ACL severance policy.




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
    
    Following the termination of your employment on May 24, 2008, any of your unvested
equity awards will immediately terminate. You will be entitled to exercise any of your then
vested stock options for the periods set forth in the applicable stock option award
agreement. For the avoidance of doubt, following your termination of employment on May 24,
2008 you will be vested in the options set forth on Exhibit A hereto and you will vest on
May 24, 2008 in 37,380 shares of restricted stock granted to you on May 24, 2005. Following
the termination of your employment on May 24, 2008, you will have no right to exercise any
stock options other than those set forth on Exhibit A.
    
    Your continued receipt of base salary through May 24, 2008 is contingent on your
executing, and not revoking, the form of release attached hereto as Exhibit B within 30
days of April 7, 2008. If you do not sign the form of release or you revoke it prior to the
end of the revocation period, your employment will terminate on May 9, 2008, by mutual
agreement and any of your unvested equity awards will immediately terminate.




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Exhibit A
 Options which will have vested by May 24, 2008
 Grant Date
    
    Vested Options
    
    Exercise Price5/24/05
    

75,1361
    
    $2.252/1/06
    
    6,8142
    
    $16.8152/12/07
    

3,5543
    
    $36.05
 
 1
    
    Represents number of outstanding options of the original 112,144 grant. (37,008 were
exercised on August 3, 2006.)2
    
    Represents the number of options of the original 20,444 grant that will have vested by
May 24, 2008 and that will remain outstanding. (6,186 options from such grant vested and have previously
been exercised.)3
    
    Represents the number of options of the original 10,662 grant that will have
vested by May 24, 2008 and that will remain outstanding.




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Exhibit B
Release and Waiver of Claims
 RELEASE AND WAIVER OF EMPLOYMENT AND
TERMINATION OF EMPLOYMENT CLAIMS
 Jerry R. Linzey American Commercial Lines Inc,
 RECITALS
    NOW, THEREFORE,
 1.
    
    Conclusion of Employment




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2.
    
    Payments to Employee
       3.
    
    Complete Release




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4.
    
    Release of Age Discrimination Claims; Encouragement to Consult with Attorney; Period
for Review.
 Release of Age Discrimination Claims
 Additional Consideration




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Encouragement to Consult with Attorney
 Period for Review
 5.
    
    No Future Lawsuits
  6.
    
    Non-Admission of Liability.
  7.
    
    Non-Release of Future Claims
  8.
    
    Repayment of Benefits Based on Subsequent Assertion of Claim; Indemnification
for Costs Incurred by The Company; No Limitation on Covenant Not To Sue




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Repayment
of Benefits Based on Subsequent Assertion of Claim
 Indemnification
for Costs Incurred by the Company
 No
Limitation on Covenant Not to Sue
 9.
    
    Subsequent Reemployment with The Company or Any Affiliated Company
  10.
    
    Governing Law
  11.
    
    Severability and Consequences of Invalid Terms




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provided however
 12.
    
    Entire Agreement
  PLEASE READ THIS AGREEMENT CAREFULLY. IT CONTAINS A RELEASE OF KNOWN AND UNKNOWN CLAIMS.
 BY SIGNING BELOW, I ACKNOWLEDGE THAT I HAVE READ THIS RELEASE; THAT I UNDERSTAND IT; AND
THAT I AM ENTERING INTO IT VOLUNTARILY AND OF MY OWN FREE WILL, WITHOUT ANY UNDUE DURESS,
INTIMIDATION OR COERCION.
 IN WITNESS WHEREOF,
 EMPLOYEE-s- Jerry LinzeySignatureJerry LinzeyPrinted NameDated: 4/7/08
 WITNESS:(ILLEGIBLE)
 Checks and subsequent correspondence should be sent to:Jerry
Linzey[Address
on file with the Company]