Document:

EX-10.2

 Exhibit 10.2 
 Execution Version 
 REGISTRATION RIGHTS AGREEMENT 

This Registration Rights Agreement (this “Agreement”) is made and entered into as of May 8, 2013, by and
between Enbridge Energy Partners, L.P., a Delaware limited partnership (the “Partnership”) and Enbridge Energy Company, Inc., a Delaware corporation (the “Purchaser”). The Partnership and the Purchaser
are referred to collectively herein as the “Parties.” 
 WHEREAS, this Agreement is made in connection
with the Closing of the issuance and sale of the Series 1 Preferred Units (as hereinafter defined) pursuant to the Series 1 Preferred Unit Purchase Agreement, dated as of the date hereof, by and between the Partnership and the Purchaser (the
“Purchase Agreement”); and 
 WHEREAS, the Partnership has agreed to provide the registration rights and
other rights set forth in this Agreement for the benefit of the Purchaser pursuant to the Purchase Agreement. 
 NOW THEREFORE,
IN CONSIDERATION of the mutual covenants and agreements set forth herein and for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by each party hereto, the parties hereby agree as follows: 

1. Definitions. As used in this Agreement, the following terms shall have the respective meanings set forth in this
Section 1: 
 “Affiliate” means, with respect to any Person, any other Person that directly or
indirectly through one or more intermediaries controls, is controlled by or is under common control with, the Person in question. As used in this definition, the term “control” means the possession, direct or indirect, of the power to
direct or cause the direction of the management and policies of a Person, whether through ownership of voting securities, by contract or otherwise. 
 “Agreement” has the meaning set forth in the preamble. 

“Automatic Shelf Registration Statement” means an “automatic shelf registration statement” as defined
under Rule 405. 
 “Business Day” means Monday through Friday of each week, except that a legal holiday
recognized as such by the government of the United States of America or the State of Texas shall not be regarded as a Business Day. 
 “Class A Common Units” has the meaning set forth in the Partnership Agreement. 
 “Class B Common Units” has the meaning set forth in the Partnership Agreement. 
 “Commission” means the Securities and Exchange Commission or any other federal agency then administering the Securities Act or Exchange Act. 

  
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 “Demand Eligible Holder” has the meaning set forth in
Section 2(a)(ii). 
 “Demand Notice” has the meaning set forth in Section 2(a)(i). 

“Demand Registration” has the meaning set forth in Section 2(a)(i). 

“Effective Date” means the time and date that a Registration Statement is first declared effective by the
Commission or otherwise becomes effective. 
 “Effectiveness Period” has the meaning set forth in
Section 2(a)(ii). 
 “Enbridge Management” means Enbridge Energy Management, L.L.C. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Holder” means any holder of Registrable Securities. 

“Incentive Distributions” has the meaning set forth in the Partnership Agreement. 

“Indemnified Persons” has the meaning set forth in Section 5. 

“Initiating Holder” has the meaning set forth in Section 2(a)(i). 

“Losses” has the meaning set forth in Section 5. 

“Parties” has the meaning set forth in the preamble. 

“Partnership” has the meaning set forth in the preamble. 

“Partnership Agreement” means the Fifth Amended and Restated Agreement of Limited Partnership of Enbridge Energy
Partners, L.P., dated as of May 8, 2013, as may be further amended from time to time. 
 “Partnership
Securities” has the meaning set forth in the Partnership Agreement. 
 “Person” has the
meaning set forth in the Partnership Agreement. 
 “Piggyback Eligible Holder” has the meaning set forth
in Section 2(b)(i). 
 “Piggyback Notice” has the meaning set forth in Section 2(b)(i).

 “Piggyback Registration” has the meaning set forth in Section 2(b)(i). 

“Piggyback Request” has the meaning set forth in Section 2(b)(i). 

“Proceeding” means any action, claim, suit, proceeding or investigation (including a preliminary investigation or
partial proceeding, such as a deposition) pending or known to the Partnership to be threatened. 

  
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 “Prospectus” means the prospectus included in a Registration
Statement (including a prospectus that includes any information previously omitted from a prospectus filed as part of an effective Registration Statement in reliance upon Rule 430A promulgated under the Securities Act), as amended or supplemented by
any prospectus supplement, with respect to the terms of the offering of any portion of the Registrable Securities covered by a Registration Statement, and all other amendments and supplements to the Prospectus, including post-effective amendments,
and all material incorporated by reference or deemed to be incorporated by reference in such Prospectus. 
 “Purchase
Agreement” has the meaning set forth in the preamble. 
 “Registrable Securities” means any
Class A Common Units issued upon conversion of any Series 1 Preferred Units that are held by the Purchaser or any transferee or assignee of the Purchaser pursuant to Section 7(e), all of which Class A Common Units are subject to the
rights provided herein until such rights terminate pursuant to the provisions of this Agreement; provided, however, that such Class A Common Units shall cease to be Registrable Securities when (i) a registration statement
registering such Class A Common Units under the Securities Act has been declared effective and such Class A Common Units have been sold or otherwise transferred by the Holder thereof pursuant to such effective registration statement, or
(ii) such Class A Common Units are sold pursuant to Rule 144 under circumstances in which any legend borne by such Class A Common Units relating to restrictions on transferability thereof, under the Securities Act or otherwise, is
removed by the Partnership. 
 “Registration Expenses” has the meaning set forth in Section 4.

 “Registration Statement” means a registration statement in the form required to register the resale
of the Registrable Securities under the Securities Act and other applicable law, and including any Prospectus, amendments and supplements to each such registration statement or Prospectus, including pre- and post-effective amendments, all exhibits
thereto, and all material incorporated by reference or deemed to be incorporated by reference in such registration statement. 

“Rule 144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be
amended from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 
 “Rule 405” means Rule 405 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter
adopted by the Commission having substantially the same effect as such Rule. 
 “Rule 415” means Rule
415 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 

“Rule 424” means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule may be
amended from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 

  
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 “Securities Act” means the Securities Act of 1933, as amended.

 “Selling Expenses” means all underwriting discounts, selling commissions and stock transfer taxes
applicable to the sale of Registrable Securities and fees and disbursements of counsel for any Holder. 
 “Series 1
Preferred Unit” has the meaning set forth in the Partnership Agreement. 
 “Shelf Registration
Statement” means a Registration Statement made pursuant to Rule 415 of the Securities Act. 
 “Stand-Off
Period” has the meaning set forth in Section 7(f). 
 “Suspension Period” has the
meaning set forth in Section 2(a)(iv). 
 “Trading Day” means a day during which trading in the
Class A Common Units on the Trading Market generally occurs. 
 “Trading Market” means the
principal national securities exchange on which Registrable Securities are listed. 
 “Transaction
Documents” means, collectively, this Agreement, the Partnership Agreement and any and all other agreements or instruments provided for in this Agreement to be executed and delivered by the Parties in connection with the transactions
contemplated hereby; provided, however, for the avoidance of doubt, the Transaction Documents shall not include the Purchase Agreement or the agreements or instruments provided therein to be executed and delivered by the parties thereto in
connection with the transactions contemplated thereby (other than this Agreement and the other Transaction Documents defined herein giving effect to this proviso). 
 “WKSI” means a “well known seasoned issuer” as defined under Rule 405. 
 Unless the context requires otherwise: (a) any pronoun used in this Agreement shall include the corresponding masculine, feminine or neuter forms; (b) references to Articles and Sections refer
to Articles and Sections of this Agreement; (c) the terms “include,” “includes,” “including” or words of like import shall be deemed to be followed by the words “without limitation”; (d) the terms
“hereof,” “herein” or “hereunder” refer to this Agreement as a whole and not to any particular provision of this Agreement; (e) unless the context otherwise requires, the term “or” is not exclusive and
shall have the inclusive meaning of “and/or”; (f) defined terms herein will apply equally to both the singular and plural forms and derivative forms of defined terms will have correlative meanings; (g) references to any law or
statute shall include all rules and regulations promulgated thereunder, and references to any law or statute shall be construed as including any legal and statutory provisions consolidating, amending, succeeding or replacing the applicable law or
statute; (h) references to any Person include such Person’s successors and permitted assigns; and (i) references to “days” are to calendar days unless otherwise indicated. 

  
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 2. Registration. 

(a) Demand Registration. 
 (i) Any Holder or group of Holders that holds Registrable Securities (the “Initiating Holder”) that it desires to sell shall have the option and right, exercisable by delivering a
written notice to the Partnership (a “Demand Notice”), to require the Partnership to, pursuant to the terms of and subject to the limitations contained in this Agreement, prepare and file with the Commission a Registration
Statement registering the offering and sale of the number and type of Registrable Securities on the terms and conditions specified in the Demand Notice in accordance with the intended timing and method or methods of distribution thereof specified in
the Demand Notice (the “Demand Registration”). The Partnership shall have the right to elect that any Demand Registration be made pursuant to a Shelf Registration Statement. 

(ii) Within two (2) Trading Days of the receipt of the Demand Notice, the Partnership shall give written notice of
such Demand Notice to all Holders eligible to participate in the Demand Registration pursuant to this Section 2(a) (the “Demand Eligible Holders”) and shall, subject to the limitations of this Section 2(a), file a
Registration Statement covering all of the Registrable Securities that the Demand Eligible Holders shall in writing request (such request to be given to the Partnership within three (3) Business Days of receipt of such notice of the Demand
Notice given by the Partnership pursuant to this Section 2(a)(ii)) to be included in such Demand Registration as promptly as practicable as directed by the Initiating Holder in accordance with the terms and conditions of the Demand Notice and
use all commercially reasonable efforts to cause such Registration Statement to become effective under the Securities Act and remain effective under the Securities Act for not less than six (6) months following the Effective Date or such
shorter period when all Registrable Securities covered by such Registration Statement have been sold (the “Effectiveness Period”); provided, however, that the Partnership shall not be required to effect the
registration of Registrable Securities pursuant to this Section 2(a) unless at least an aggregate of 2,500,000 Registrable Securities (as adjusted to reflect splits, combinations, dividends and recapitalizations) are offered or the Registrable
Securities are offered at an aggregate proposed offering price of not less than $50 million. 
 (iii)
Subject to the other limitations contained in this Agreement, the Partnership is not obligated hereunder to effect more than (A) one (1) Demand Registration on Form S-1 (or any equivalent or successor form under the Securities Act) in any
twelve (12) month period; provided, that notwithstanding anything in this Agreement to the contrary, the Partnership shall not be obligated to effect any Demand Registration on Form S-1 (or any equivalent or successor form under the
Securities Act) that is not requested by a Holder; and (B) two (2) Demand Registrations on Form S-3 (or any equivalent or successor form under the Securities Act) in any twelve (12) month period. 

(iv) Notwithstanding any other provision of this Section 2(a), the Partnership shall not be required to effect a
registration or file a Registration Statement pursuant to this Section 2(a): (A) during the period starting with the date sixty (60) days prior to a good faith estimate, with the approval of a simple majority of the Board of

  
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Directors of Enbridge Management, of the date of filing of, and ending on a date ninety (90) days after the effective date of, a Partnership-initiated registration; provided that the
Partnership is actively employing commercially reasonable efforts to cause such registration statement to become effective; (B) for a period of up to ninety (90) days after the date of a Demand Notice for registration pursuant to this
Section 2(a) if at the time of such request (1) the Partnership is engaged, or has fixed plans with the approval of a simple majority of the Board of Directors of Enbridge Management to engage, within ninety (90) days of the time of
such Demand Notice, in a firm commitment underwritten public offering of Class A Common Units in which the Holders of Registrable Securities include Registrable Securities pursuant to Section 2(b), or (2) the Partnership is currently
engaged in a self-tender or exchange offer and the filing of a Registration Statement would cause a violation of the Exchange Act; or (C) for a period of up to ninety (90) days, if (1) Enbridge Management determines that a
postponement is in the best interest of the Partnership and its Limited Partners generally due to a pending transaction or (2) Enbridge Management determines that a postponement is in the best interest of the Partnership due to an investigation
or other event (any such period, a “Suspension Period”); provided, however, that in no event shall the Partnership postpone or defer any Demand Registration pursuant to this Section 2(a)(iv) and/or
Section 7(f) for more than an aggregate of one hundred and eighty (180) days in any twelve (12) month period. 
 (v) Notwithstanding any other provision of this Section 2(a), if (A) the Demand Eligible Holders intend to distribute the Registrable Securities covered by a Demand Registration by means of an
underwriting and (B) the managing underwriter advises the Partnership that the inclusion of all of the Demand Eligible Holders’ Registrable Securities in the subject Registration Statement would have a material adverse effect on the timing
or success of the offering, then the Partnership shall so advise all Demand Eligible Holders of Registrable Securities that would otherwise be underwritten pursuant hereto, and the number of Registrable Securities that may be included in the
underwriting shall be allocated to the Demand Eligible Holders of such Registrable Securities on a pro rata basis based on the number of Registrable Securities held by all such Demand Eligible Holders (including the Initiating Holders). Any
Registrable Securities excluded or withdrawn from such underwriting shall be withdrawn from the registration. 

(vi) The Partnership may include in any such Demand Registration other Partnership Securities for sale for its own account
or for the account of any other Person; provided that if the managing underwriter for the offering determines that the number of Partnership Securities proposed to be offered in such offering would have a material adverse effect on the timing
or success of such offering, then the Registrable Securities to be sold by the Demand Eligible Holders shall be included in such registration before any Partnership Securities proposed to be sold for the account of the Partnership or any other
Person. 
 (vii) Subject to the limitations contained in this Agreement, the Partnership shall effect any Demand
Registration on Form S-3 (except if the Partnership is not then eligible to register for resale the Registrable Securities on Form S-3, in which case such Demand Registration shall be effected on another appropriate form for such

  
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purpose pursuant to the Securities Act) and if the Partnership becomes, and is at the time of its receipt of a Demand Notice, a WKSI, the Demand Registration for any offer and sale of Registrable
Securities through a firm commitment underwriting shall be effected pursuant to an Automatic Shelf Registration Statement, which shall be on Form S-3 or any equivalent or successor form under the Securities Act (if available to the Partnership);
provided, however, that if at any time a Registration Statement on Form S-3 is effective and a Holder provides written notice to the Partnership that it intends to effect an offering of all or part of the Registrable Securities
included on such Registration Statement, the Partnership will amend or supplement such Registration Statement as may be necessary in order to enable such offering to take place. 

(viii) Without limiting Section 3, in connection with any Demand Registration pursuant to and in accordance with this
Section 2(a)(viii), the Partnership shall, (A) promptly prepare and file or cause to be prepared and filed (1) such additional forms, amendments, supplements, prospectuses, certificates, letters, opinions and other documents, as may
be necessary or advisable to register or qualify the securities subject to such Demand Registration, including under the securities laws of such states as the Demand Eligible Holders shall reasonably request; provided, however, that no
such qualification shall be required in any jurisdiction where, as a result thereof, the Partnership would become subject to general service of process or to taxation or qualification to do business in such jurisdiction solely as a result of
registration and (2) such forms, amendments, supplements, prospectuses, certificates, letters, opinions and other documents as may be necessary to apply for listing or to list the Registrable Securities subject to such Demand Registration on
the Trading Market and (B) do any and all other acts and things that may be necessary or appropriate or reasonably requested by the Demand Eligible Holders to enable such Holders to consummate a public sale of such Registrable Securities in
accordance with the intended timing and method or methods of distribution thereof. 
 (ix) In the event a Holder
transfers Registrable Securities included on a Registration Statement and such Registrable Securities remain Registrable Securities following such transfer, at the request of such Holder, the Partnership shall amend or supplement such Registration
Statement as may be necessary in order to enable such transferee to offer and sell such Registrable Securities pursuant to such Registration Statement. 
 (x) The Partnership shall use commercially reasonable efforts to remain eligible to use Form S-3, including by timely filing all reports with the Commission and meeting the other requirements of the
Exchange Act. 
 (b) Piggyback Registration. 

(i) If at any time the Partnership has not filed an Automatic Shelf Registration Statement in respect of Registrable
Securities and proposes to file a Registration Statement, other than pursuant to any Demand Registration, for an offering of Partnership Securities for cash (whether in connection with a public offering of Partnership Securities by the Partnership,
a public offering of Partnership Securities by 

  
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unitholders, or both, but excluding an offering relating solely to an employee benefit plan, an offering relating to a transaction on Form S-4 or an offering on any registration statement form
that does not permit secondary sales), the Partnership shall promptly notify all Holders eligible to participate in such offering (each a “Piggyback Eligible Holder”) of such proposal reasonably in advance of (and in any
event at least two (2) Trading Days before) the anticipated filing date (the “Piggyback Notice”). The Piggyback Notice shall offer the Piggyback Eligible Holders the opportunity to include for registration in such
Registration Statement the number of Registrable Securities as they may request (a “Piggyback Registration”). The Partnership shall use commercially reasonable efforts to include in each such Piggyback Registration such
Registrable Securities for which the Partnership has received written requests from Piggyback Eligible Holders within three (3) Business Days after mailing of the Piggyback Notice (“Piggyback Request”) for inclusion
therein. If a Piggyback Eligible Holder decides not to include all of its Registrable Securities in any Registration Statement thereafter filed by the Partnership, such Piggyback Eligible Holder shall nevertheless continue to have the right to
include any Registrable Securities in any subsequent registration statement or registration statements as may be filed by the Partnership with respect to offerings of Partnership Securities, all upon the terms and conditions set forth herein.

 (ii) If the Registration Statement under which the Partnership gives notice under Section 2(b)(i) is for
an underwritten offering, the Partnership shall so advise the Piggyback Eligible Holders of Registrable Securities. In such event, the right of any such Piggyback Eligible Holder to be included in a registration pursuant to this Section 2(b)
shall be conditioned upon such Piggyback Eligible Holder’s participation in such underwriting and the inclusion of such Piggyback Eligible Holder’s Registrable Securities in the underwriting to the extent provided herein. All Piggyback
Eligible Holders proposing to distribute their Registrable Securities through such underwriting shall enter into an underwriting agreement in customary form with the underwriter or underwriters selected for such underwriting by the Partnership. If
the managing underwriter or managing underwriters of such offering advise the Partnership and the Piggyback Eligible Holders in writing that in their reasonable opinion the inclusion of all of the Piggyback Eligible Holders’ Registrable
Securities in the subject Registration Statement would have a material adverse effect on the timing or success of the offering, the Partnership shall include in such offering only that number or amount, if any, of Registrable Securities held by the
Piggyback Eligible Holders that, in the reasonable opinion of the managing underwriter or managing underwriters, will not have a material adverse effect on the timing or success of the offering, with any reduction in the amount of Registrable
Securities to be registered applied pro-rata among all Piggyback Eligible Holders desiring to register Registrable Securities based on the number of Registrable Securities owned by each such Piggyback Eligible Holder of the class (or classes) for
which registration is being sought and, as to any other holders of Partnership Securities who may be seeking to register such Partnership Securities, with such reduction applied first, subject to the rights of any holder that has priority by virtue
of an any agreement approved in accordance with Section 2(f) below, to the amount of Partnership Securities sought to be registered by such other holders. If any Piggyback Eligible Holder disapproves of the terms of any such underwriting, such
Piggyback Eligible Holder may elect to withdraw therefrom by written notice to the Partnership and the managing 

  
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underwriter(s) delivered on or prior to the time of pricing of such offering. Any Registrable Securities withdrawn from such underwriting shall be excluded and withdrawn from the registration.
For any Piggyback Eligible Holder that is a partnership, limited liability company, corporation or other entity, the partners, members, stockholders, subsidiaries, parents and Affiliates of such Piggyback Eligible Holder, or the estates and family
members of any such partners/members and retired partners/members and any trusts for the benefit of any of the foregoing Persons, shall be deemed to be a single “Piggyback Eligible Holder,” and any pro rata reduction with respect to such
“Piggyback Eligible Holder” shall be based upon the aggregate amount of securities carrying registration rights owned by all entities and individuals included in such “Piggyback Eligible Holder,” as defined in this sentence.

 (iii) The Partnership shall have the right to terminate or withdraw any registration initiated by it under
this Section 2(b) prior to the Effective Date of such Registration Statement whether or not any Piggyback Eligible Holder has elected to include Registrable Securities in such Registration Statement. The registration expenses of such withdrawn
registration shall be borne by the Partnership in accordance with Section 4 hereof. 
 (c) All registration rights granted
under this Section 2 shall continue to be applicable with respect to any Holder for so long as may be required for each such Holder to sell all of the Registrable Securities held by such Holder (without any limitation on volume, timing,
recipients or intended method or methods of distribution, including through the use of an underwriter, that would not be applicable with a registration under the Securities Act). 

(d) Any Demand Notice or Piggyback Request shall (i) specify the Registrable Securities intended to be offered and sold by the
Holder making the request, (ii) express such Holder’s present intent to offer such Registrable Securities for distribution, (iii) describe the nature or method of the proposed offer and sale of Registrable Securities and
(iv) contain the undertaking of such Holder to provide all such information and materials and take all action as may reasonably be required in order to permit the Partnership to comply with all applicable requirements in connection with the
registration of such Registrable Securities. 
 (e) No Holder shall have any right to obtain or seek an injunction restraining
or otherwise delaying any such registration as the result of any controversy that might arise with respect to the interpretation or implementation of this Section 2. 
 (f) The Partnership has not entered into and, unless agreed in writing by each Holder, on or after the date of this Agreement will not enter into, any agreement which (a) is inconsistent with the
rights granted to the Holders with respect to Registrable Securities in this Agreement or otherwise conflicts with the provisions hereof in any material respect or (b) other than as set forth in this Agreement, would allow any holder of
Partnership Securities to include Partnership Securities in any Registration Statement filed by the Partnership on a basis that is superior or more favorable in any material respect to the rights granted to the Holders hereunder. 

  
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 3. Registration Procedures. 

The procedures to be followed by the Partnership and each Holder selling Registrable Securities in a Registration Statement pursuant to
this Agreement, and the respective rights and obligations of the Partnership and such Holders, with respect to the preparation, filing and effectiveness of such Registration Statement, are as follows: 

(a) The Partnership will, at least three (3) Business Days prior to the anticipated filing of a Registration Statement or any related
Prospectus or any amendment or supplement thereto (other than amendments and supplements that do nothing more than name Holders and provide information with respect thereto), (i) unless available to the Holders through public filings with the
Commission, furnish to such Holders copies of all such documents proposed to be filed and (ii) use its reasonable efforts to address in each such document when so filed with the Commission such comments as such Holder reasonably shall propose
within two (2) Business Days of the delivery of such copies to the Holders. 
 (b) The Partnership will use commercially
reasonable efforts to as promptly as reasonably possible (i) prepare and file with the Commission such amendments, including post-effective amendments, and supplements to each Registration Statement and the Prospectus used in connection
therewith as may be necessary under applicable law to keep such Registration Statement continuously effective with respect to the disposition of all Registrable Securities covered thereby for its Effectiveness Period and, subject to the limitations
contained in this Agreement, prepare and file with the Commission such additional Registration Statements in order to register for resale under the Securities Act all of the Registrable Securities held by the Holders; (ii) cause the related
Prospectus to be amended or supplemented by any required prospectus supplement, and as so supplemented or amended to be filed pursuant to Rule 424; and (iii) respond to any comments received from the Commission with respect to each Registration
Statement or any amendment thereto and, as promptly as reasonably possible provide such Holders true and complete copies of all correspondence from and to the Commission relating to such Registration Statement that pertains to such Holders as
selling Holders but not any comments that would result in the disclosure to such Holders of material and non-public information concerning the Partnership. 
 (c) The Partnership will comply in all material respects with the provisions of the Securities Act and the Exchange Act with respect to each Registration Statement and the disposition of all Registrable
Securities covered by each Registration Statement. 
 (d) The Partnership will notify such Holders as promptly as reasonably
practicable: (i)(A) when a Prospectus or any prospectus supplement or post-effective amendment to a Registration Statement is proposed to be filed; (B) when the Commission notifies the Partnership whether there will be a
“review” of such Registration Statement and whenever the Commission comments in writing on such Registration Statement (in which case the Partnership shall provide true and complete copies thereof and all written responses
thereto to each of such Holders that pertain to such Holders as selling Holders, but not information which the Partnership believes would constitute material and non-public information); and (C) with respect to each Registration Statement or
any post-effective amendment thereto, when the same has been declared effective; (ii) of any request by the Commission or any other federal or state 

  
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governmental authority for amendments or supplements to a Registration Statement or Prospectus or for additional information that pertains to such Holders as sellers of Registrable Securities;
(iii) of the issuance by the Commission of any stop order suspending the effectiveness of a Registration Statement covering any or all of the Registrable Securities or the initiation of any Proceedings for that purpose; (iv) of the receipt
by the Partnership of any notification with respect to the suspension of the qualification or exemption from qualification of any of the Registrable Securities for sale in any jurisdiction, or the initiation or threatening of any Proceeding for such
purpose; and (v) of the occurrence of (but not the nature or details concerning) any event or passage of time that makes any statement made in such Registration Statement or Prospectus or any document incorporated or deemed to be incorporated
therein by reference untrue in any material respect or that requires any revisions to such Registration Statement, Prospectus or other documents so that, in the case of such Registration Statement or the Prospectus, as the case may be, it will not
contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading (provided,
however, that no notice by the Partnership shall be required pursuant to this clause (v) in the event that the Partnership either promptly files a prospectus supplement to update the Prospectus or a Form 8-K or other appropriate Exchange
Act report that is incorporated by reference into the Registration Statement, which in either case, contains the requisite information that results in such Registration Statement no longer containing any untrue statement of material fact or omitting
to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading). 
 (e) The Partnership will use commercially reasonable efforts to avoid the issuance of, or, if issued, obtain the withdrawal of (i) any order suspending the effectiveness of a Registration Statement,
or (ii) any suspension of the qualification (or exemption from qualification) of any of the Registrable Securities for sale in any jurisdiction, at the earliest practicable moment, or if any such order or suspension is made effective during any
Suspension Period, at the earliest practicable moment after the Suspension Period is over. 
 (f) During the Effectiveness
Period, the Partnership will furnish to each such Holder, without charge, at least one conformed copy of each Registration Statement and each amendment thereto and all exhibits to the extent requested by such Holder (including those incorporated by
reference) promptly after the filing of such documents with the Commission; provided, that the Partnership will not have any obligation to provide any document pursuant to this clause that is available on the Commission’s EDGAR system.

 (g) The Partnership will promptly deliver to each Holder, without charge, as many copies of each Prospectus or Prospectuses
(including each form of prospectus) and each amendment or supplement thereto as such Holder may reasonably request during the Effectiveness Period. The Partnership consents to the use of such Prospectus and each amendment or supplement thereto by
each of the selling Holders in connection with the offering and sale of the Registrable Securities covered by such Prospectus and any amendment or supplement thereto. 

  
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 (h) The Partnership will cooperate with such Holders to facilitate the timely preparation
and delivery of certificates representing Registrable Securities to be delivered to a transferee pursuant to a Registration Statement, which certificates shall be free of all restrictive legends indicating that the Registrable Securities are
unregistered or unqualified for resale under the Securities Act, Exchange Act or other applicable securities laws, and to enable such Registrable Securities to be in such denominations and registered in such names as any such Holder may request in
writing. In connection therewith, if required by the Partnership’s transfer agent, the Partnership will promptly, after the Effective Date of the Registration Statement, cause an opinion of counsel as to the effectiveness of the Registration
Statement to be delivered to and maintained with its transfer agent, together with any other authorizations, certificates and directions required by the transfer agent which authorize and direct the transfer agent to issue such Registrable
Securities without any such legend upon sale by the Holder of such Registrable Securities under the Registration Statement. 

(i) Upon the occurrence of any event contemplated by Section 3(d)(v), as promptly as reasonably possible, the Partnership will
prepare a supplement or amendment, including a post-effective amendment, if required by applicable law, to the affected Registration Statement or a supplement to the related Prospectus or any document incorporated or deemed to be incorporated
therein by reference, and file any other required document so that, as thereafter delivered, no Registration Statement nor any Prospectus will contain an untrue statement of a material fact or omit to state a material fact required to be stated
therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. 
 (j) Such Holders may distribute the Registrable Securities by means of an underwritten offering; provided that (i) such Holders provide written notice to the Partnership of their intention to
distribute Registrable Securities by means of an underwritten offering, (ii) the right of any Holder to include such Holder’s Registrable Securities in such registration shall be conditioned upon such Holder’s participation in such
underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting to the extent provided herein, (iii) the managing underwriter or managing underwriters thereof shall be designated by the Initiating Holder in the
case of a Demand Registration (provided, however, that such designated managing underwriter or managing underwriters shall be reasonably acceptable to the Partnership) or by the Partnership in the case of a registration initiated by
the Partnership, (iv) each Holder participating in such underwritten offering agrees to enter into an underwriting agreement in customary form and sell such Holder’s Registrable Securities on the basis provided in any underwriting
arrangements approved by the Persons entitled to select the managing underwriter or managing underwriters hereunder and (v) each Holder participating in such underwritten offering completes and executes all questionnaires, powers of attorney,
indemnities, underwriting agreements and other documents reasonably required under the terms of such underwriting arrangements. The Partnership hereby agrees with each Holder that, in connection with any underwritten offering in accordance with the
terms hereof, it will negotiate in good faith and execute all indemnities, underwriting agreements and other documents reasonably required under the terms of such underwriting arrangements, including using all commercially reasonable efforts to
procure customary legal opinions and auditor “comfort” letters. 

  
 12 

 (k) In the event such Holders seek to complete an underwritten offering, for a reasonable
period prior to the filing of any Registration Statement and throughout the Effectiveness Period, the Partnership will make available upon reasonable notice at the Partnership’s principal place of business or such other reasonable place for
inspection by the managing underwriter or managing underwriters selected in accordance with Section 3(j) such financial and other information and books and records of the Partnership, and cause the officers, employees, counsel and independent
certified public accountants of the Partnership to respond to such inquiries, as shall be reasonably necessary (and in the case of counsel, not violate an attorney-client privilege in such counsel’s reasonable belief) to conduct a reasonable
investigation within the meaning of Section 11 of the Securities Act. 
 (l) In connection with any registration of
Registrable Securities pursuant to this Agreement, the Partnership will take all commercially reasonable actions as are necessary or advisable in order to expedite or facilitate the disposition of Registrable Securities by such Holders, including
using commercially reasonable efforts to cause appropriate officers and employees to be available, on a customary basis and upon reasonable notice, to meet with prospective investors in presentations, meetings and road shows. 

4. Registration Expenses. All Registration Expenses incident to the Parties’ performance of or compliance with their
respective obligations under this Agreement or otherwise in connection with any Demand Registration or Piggyback Registration (excluding any Selling Expenses) shall be borne by the Partnership, whether or not any Registrable Securities are sold
pursuant to a Registration Statement. “Registration Expenses” shall include, without limitation, (i) all registration and filing fees (including fees and expenses (A) with respect to filings required to be made with
the Trading Market and (B) in compliance with applicable state securities or “Blue Sky” laws), (ii) printing expenses (including expenses of printing certificates for Partnership Securities and of printing prospectuses if the
printing of prospectuses is reasonably requested by a Holder of Registrable Securities included in the Registration Statement), (iii) messenger, telephone and delivery expenses, (iv) fees and disbursements of counsel, auditors and
accountants for the Partnership, (v) Securities Act liability insurance, if the Partnership so desires such insurance and (vi) fees and expenses of all other Persons retained by the Partnership in connection with the consummation of the
transactions contemplated by this Agreement. In addition, the Partnership shall be responsible for all of its expenses incurred in connection with the consummation of the transactions contemplated by this Agreement (including expenses payable to
third parties and including all salaries and expenses of their officers and employees performing legal or accounting duties), the expense of any annual audit and the fees and expenses incurred in connection with the listing of the Registrable
Securities on the Trading Market. 
 5. Indemnification. If requested by a Holder, the Partnership shall indemnify
and hold harmless each underwriter, if any, engaged in connection with any registration referred to in Section 2 and provide representations, covenants, opinions and other assurances to any underwriter in form and substance reasonably
satisfactory to such underwriter and the Partnership. Further, in addition to and not in limitation of the Partnership’s obligations under Section 6.7 of the Partnership Agreement, the Partnership shall indemnify and hold harmless each
Holder, its Affiliates and each of their respective officers and directors and any Person who controls any such Holder (within the meaning of the Securities Act) and any agent thereof (collectively, “Indemnified Persons”), to
the fullest extent permitted by applicable law, from and against any and all losses, claims, damages, liabilities, joint or several, costs (including reasonable costs of preparation and reasonable attorneys’ fees) and expenses, judgments,
fines, 

  
 13 

 
penalties, interest, settlements or other amounts arising from any and all claims, demands, actions, suits or proceedings, whether civil, criminal, administrative or investigative, in which any
Indemnified Person may be involved, or is threatened to be involved, as a party or otherwise, under the Securities Act or otherwise (collectively, “Losses”), as incurred, arising out of or relating to any untrue or alleged
untrue statement of a material fact contained in any Registration Statement under which any Registrable Securities were registered, in any preliminary prospectus (if used prior to the Effective Date of such Registration Statement), or in any summary
or final prospectus or free writing prospectus or in any amendment or supplement thereto (if used during the period the Partnership is required to keep the Registration Statement current), or arising out of, based upon or resulting from the omission
or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements made therein, in the light of the circumstances in which they were made, not misleading; provided, however, that the
Partnership shall not be liable to any Indemnified Person to the extent that any such claim arises out of, is based upon or results from an untrue or alleged untrue statement or omission or alleged omission made in such Registration Statement, such
preliminary, summary or final prospectus or free writing prospectus or such amendment or supplement, in reliance upon and in conformity with written information furnished to the Partnership by or on behalf of such Indemnified Person specifically for
use in the preparation thereof. The Partnership shall notify the Holders promptly of the institution, threat or assertion of any Proceeding of which the Partnership is aware in connection with the transactions contemplated by this Agreement.
Notwithstanding anything to the contrary herein, this Section 5 shall survive any termination or expiration of this Agreement indefinitely. 
 6. Facilitation of Sales Pursuant to Rule 144. To the extent it shall be required to do so under the Exchange Act, the Partnership shall timely file the reports required to be filed by it
under the Exchange Act or the Securities Act (including the reports under Sections 13 and 15(d) of the Exchange Act referred to in subparagraph (c)(1) of Rule 144), and shall take such further action as any Holder may reasonably request, all to the
extent required from time to time to enable the Holders to sell Registrable Securities without registration under the Securities Act within the limitations of the exemption provided by Rule 144. Upon the request of any Holder in connection with
that Holder’s sale pursuant to Rule 144, the Partnership shall deliver to such Holder a written statement as to whether it has complied with such requirements. 
 7. Miscellaneous. 
 (a) Remedies. In the event of a breach by
the Partnership of any of its obligations under this Agreement, each Holder, in addition to being entitled to exercise all rights granted by law and under this Agreement, including recovery of damages, will be entitled to specific performance of its
rights under this Agreement. The Partnership agrees that monetary damages would not provide adequate compensation for any losses incurred by reason of a breach by it of any of the provisions of this Agreement and further agrees that, in the event of
any action for specific performance in respect of such breach, it shall waive the defense that a remedy at law would be adequate. 

  
 14 

 (b) Discontinued Disposition. Each Holder agrees by its acquisition of Registrable
Securities that, upon receipt of a notice from the Partnership of the occurrence of any event of the kind described in clauses (ii) through (v) of Section 3(d), such Holder will forthwith discontinue disposition of such Registrable
Securities under the Registration Statement until such Holder’s receipt of the copies of the supplemental Prospectus or amended Registration Statement or until it is advised in writing by the Partnership that the use of the applicable
Prospectus may be resumed, and, in either case, has received copies of any additional or supplemental filings that are incorporated or deemed to be incorporated by reference in such Prospectus or Registration Statement. The Partnership may
provide appropriate stop orders to enforce the provisions of this Section 7(b). 
 (c) Amendments and Waivers. No
provision of this Agreement may be waived or amended except in a written instrument signed by the Parties. The Partnership shall provide prior notice to all Holders of any proposed waiver or amendment. No waiver of any default with respect to any
provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission
of any Party to exercise any right hereunder in any manner impair the exercise of any such right. 
 (d) Notices. Any and
all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall be deemed given and effective on the earliest of (i) the date of transmission, if such notice or communication is
delivered via facsimile or electronic mail as specified in this Section 7(d) prior to 5:00 p.m. (Central Standard Time) on a Business Day, (ii) the Business Day after the date of transmission, if such notice or communication is delivered
via facsimile or electronic mail as specified in this Agreement later than 5:00 p.m. (Central Standard Time) on any date and earlier than 11:59 p.m. (Central Standard Time) on such date, (iii) the Business Day following the date of mailing, if
sent by nationally recognized overnight courier service or (iv) upon actual receipt by the Party to whom such notice is required to be given. The address for such notices and communications shall be as follows: 

 

			
	 If to the Partnership
	  	Enbridge Energy Partners, L.P.
		  	1100 Louisiana Street, Suite 3300
		  	Houston, Texas 77002
		  	 Attention: Vice President – US Law and
 Deputy General Counsel

		  	Facsimile: (713) 821-2000
		
	 With a copy to:
	  	Bracewell & Giuliani LLP
		  	711 Louisiana Street
		  	Suite 2300, Pennzoil Place – South Tower
		  	Houston, Texas 77002
		  	Attention: William S. Anderson
		  	Facsimile: (713) 437-5370
		
	 If to the Purchaser:
	  	Enbridge Energy Company, Inc.
		  	1100 Louisiana Street, Suite 3300
		  	Houston, Texas 77002
		  	 Attention: Vice President – US Law and
 Deputy General Counsel

		  	Facsimile: (713) 821-2000

  
 15 

			
	 With a copy to:
	  	Latham & Watkins LLP
		  	811 Main Street, Suite 3700
		  	Houston, Texas
		  	Attention:   William N. Finnegan IV
		  	 Brett E. Braden

		  	Facsimile: (713) 546-5401
		
	 If to any other Person who is then the registered Holder:
	  	To the address of such Holder as it appears in the applicable register for the Registrable Securities

 or such other address as may be designated in writing hereafter, in the same manner, by such Person. 

(e) Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their heirs,
executors, administrators, successors, legal representatives and permitted assigns. Except as provided in this Section 7(e), this Agreement, and any rights or obligations hereunder, may not be assigned without the prior written consent of the
Partnership and the Holders. Notwithstanding anything in the foregoing to the contrary, the registration rights of a Holder pursuant to this Agreement with respect to all or any portion of its Registrable Securities may be assigned without such
consent (but only with all related obligations) with respect to such Registrable Securities (and any Registrable Securities issued as a dividend or other distribution with respect to, in exchange for or in replacement of such Registrable Securities)
by such Holder to a transferee of such Registrable Securities; provided (i) the Partnership is, within a commercially reasonable time after such transfer, furnished with written notice of the name and address of such transferee or
assignee and the Registrable Securities with respect to which such registration rights are being assigned and (ii) such transferee or assignee agrees in writing to be bound by and subject to the terms set forth in this Agreement. The
Partnership may not assign its respective rights or obligations hereunder without the prior written consent of each of Holder. 

(f) “Market Stand-Off” Agreement. In connection with any underwritten offering of Partnership Securities, each Holder
holding five percent (5%) or more of the Partnership’s voting securities (each a “5% Holder”) hereby agrees that such Holder shall not sell, transfer, make any short sale of, grant any option for the purchase of, or
enter into any hedging or similar transaction with the same economic effect as a sale of, any Partnership Securities held by such Holder (other than those included in such offering) for a period specified by the representative of the underwriters of
Partnership Securities not to exceed ninety (90) days following the closing date of the offering of Partnership Securities (the “Stand-Off Period”); provided that all officers and directors of Enbridge Management
and holders of at least five percent (5%) of the Partnership’s voting securities enter into similar agreements and only if such Persons remain subject thereto (and are not released from such agreement) for such Stand-Off Period. Each 5%
Holder agrees to execute and deliver such other agreements as may be 

  
 16 

 
reasonably requested by the Partnership or the underwriter which are consistent with the foregoing or which are necessary to give further effect thereto. In addition, if requested by the
Partnership or the representative of the underwriters of Partnership Securities, each Holder shall provide, within three (3) Business Days of such request, such information as may be required by the Partnership or such representative in
connection with the completion of any public offering of the Partnership Securities pursuant to a Registration Statement. The obligations described in this Section 7(f) shall not apply to a registration relating solely to employee benefit plans
on Form S-1 or Form S-8 or similar forms that may be promulgated in the future, or a registration relating solely to a transaction on Form S-4 or similar forms that may be promulgated in the future. The Partnership may impose stop-transfer
instructions with respect to Class A Common Units (or other securities) subject to the foregoing restriction until the end of the Stand-Off Period. 
 (g) Execution and Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall
constitute one and the same Agreement. In the event that any signature is delivered by facsimile or electronic mail transmission, such signature shall create a valid binding obligation of the Party executing (or on whose behalf such signature is
executed) the same with the same force and effect as if such signature delivered by facsimile or electronic mail transmission were the original thereof. 
 (h) Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware without regard to the principles of conflicts of law. 

(i) Submission to Jurisdiction. Each of the Parties irrevocably and unconditionally submits, for itself and its property, to the
exclusive jurisdiction of the Court of Chancery of the State of Delaware, and any appellate court from and thereof, in any action or proceeding arising out of or relating to this Agreement, or for the recognition or enforcement of any judgment, and
each of the Parties irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in such Delaware court or, to the fullest extent permitted by applicable law, in such federal court.
The Parties agree that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. 

(j) Waiver of Venue. The Parties irrevocably and unconditionally waive, to the fullest extent permitted by applicable law,
(i) any objection that it may now or hereafter have to the laying of venue of any action or proceeding arising out of or relating to this Agreement in any court referred to in Section 7(i) and (ii) the defense of an inconvenient forum
to the maintenance of such action or proceeding in any such court. 
 (k) Cumulative Remedies. The remedies provided
herein are cumulative and not exclusive of any remedies provided by law. 

  
 17 

 (l) Severability. If any term, provision, covenant or restriction of this Agreement
is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected,
impaired or invalidated, and the Parties shall use their reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It
is hereby stipulated and declared to be the intention of the Parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or
unenforceable. 
 (m) Entire Agreement. This Agreement, together with each of the other Transaction Documents, constitutes
the entire agreement among the Parties with respect to the subject matter hereof and supersede all prior contracts or agreements with respect to the subject matter hereof and supersede any and all prior or contemporaneous discussions, agreements and
understandings, whether oral or written that may have been made or entered into by or among any of the Parties or any of their respective affiliates relating to the transactions contemplated hereby. 

(n) Headings; Section References. The headings in this Agreement are for convenience of reference only and shall not limit or
otherwise affect the meaning hereof. Unless otherwise stated, references to Sections, Schedules and Exhibits are to the Sections, Schedules and Exhibits of this Agreement. 
 [THIS SPACE LEFT BLANK INTENTIONALLY] 

  
 18 

 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first written
above. 
  

			
	ENBRIDGE ENERGY PARTNERS, L.P.
		
	By:	 	ENBRIDGE ENERGY MANAGEMENT, L.L.C.,
		 	as delegate of authority of Enbridge Energy Company, Inc., its general partner
		
	By:	 	 /s/ Terrance L. McGill

	Name:	 	Terrance L. McGill
	Title:	 	Senior Vice President
	
	ENBRIDGE ENERGY COMPANY, INC.
		
	By:	 	 /s/ Terrance L. McGill

	Name:	 	Terrance L. McGill
	Title:	 	President

 Signature Page to Registration Rights AgreementCSX 2913-2015 Long-Term Incentive Plan

 Exhibit 10.1 
 CSX Long Term Incentive Plan 
 2013-2015 Cycle 

Purpose and Objective 
 The CSX
Long Term Incentive Plan (“LTIP” or “the “Plan”) is the vehicle under which CSX Corporation (“CSX” or “Company”) issues Performance Grants, as described in the CSX Stock and Incentive Award Plan, referred
to herein as Performance Units. The Performance Units are issued pursuant to, and are subject to the terms and conditions of, the CSX Stock and Incentive Award Plan. Under the LTIP, a Performance Unit represents the right to receive a share of CSX
common stock. The purpose of the LTIP is to reward eligible employees for their contribution to the attainment of improved operating performance and asset utilization which is intended to result in increased total shareholder return. As described
below in the Plan Design section, grants of Performance Units are approved by the Compensation Committee of CSX’s Board of Directors (the “Committee”). 
 The Company seeks to motivate and reward employees through the issuance of Performance Units. Performance Units are settled upon the Company’s achievement of predetermined levels of
(i) operating ratio and (ii) return on assets during the Performance Period (as defined below). The payments are referred to as Performance Awards at the time of payment, and are payable in the form of CSX common stock. 

Effective Date and Performance Period 
 The 2013-2015 LTIP Cycle (the “2013-2015 Cycle” or “Cycle”) commences May 7, 2013 (“the Effective Date”) and ends December 25, 2015. The Performance Period, the
time during which Company performance is measured, commences March 30, 2013 and ends December 25, 2015. 
 Eligibility and
Participation 
 Active employees of CSX or a participating subsidiary (the “Company” or collectively, the
“Companies”) in salary Band 06 and above as of the Effective Date (“Participants”) shall participate in the Plan for the 2013-2015 LTIP Cycle and shall receive a number of Performance Units determined by reference to a dollar
denominated long-term incentive compensation award approved by the Committee. The Performance Unit schedule is maintained by the Plan Administrator. 
 Employees hired or promoted into Band 06 and above after the Effective Date and before the end of the 2013-2015 Cycle will receive a pro rata allocation of Performance Units based on their participation
(and status as full time or part-time). Participants who are moved to a higher or lower Band during the Cycle will receive an adjustment to the Performance Units pertaining to each applicable Band based upon the number of months of participation in
each Band relative to the number of months in the Cycle. The same pro rata adjustment will be used for employees who transfer between union and non-union employment. For purposes of the pro-rata calculation, participation will be deemed to begin on
the first day of the month following the date the Participant was hired or the change in salary band effected. 
 Pro-rata adjustment for
“covered individuals”: Notwithstanding the preceding sentence, any Participant who is hired at or promoted to a salary level making such Participant a “covered employee” under Internal Revenue Code Section 162(m) —
generally the top 5 highest paid employees — must have a period of service of 3 months before qualifying for Performance Units at that level. Consequently, if a Participant is promoted or hired and becomes a “covered employee” within
the last three months of the Cycle, no pro-rata adjustment of Performance Units shall apply. Participation shall begin on the first day of the month following the completion of the 3-month waiting period. 

 Plan Design 
 Under CSX’s long-term incentive compensation program design, the Committee approves the annual competitive dollar value of long-term incentive compensation for Participants primarily based upon
Band1. For the 2013-2015 Cycle, the value of Performance
Units comprise 75% of the value of long-term incentive compensation, and the value of restricted stock units comprise the other 25%. Restricted Stock Units are provided in a separate grant. 
 The number of Performance Units an employee receives is calculated by dividing 75% of the dollar value of the long-term incentive compensation mentioned above by the average closing price of CSX common
stock during the most recent three months preceding the Effective Date. For the 2013-2015 Cycle, the average stock price equaled $23.42, representing the months of February, March and April 2013. This price is used solely to determine the number of
Performance Units granted to each Participant at the commencement of the Cycle. 
 Performance Measures 

The Plan uses a combination of (i) operating ratio (“OR”) and (ii) return on assets (“ROA”) as the performance measures,
excluding non-recurring items as disclosed in the Company financial statements. The measures are applied independently and weighted equally. Thus, if both target OR and target ROA are achieved, each measure would pay at 50% for a total
payout of 100% of the grant value. If the maximum OR and maximum ROA are achieved then each measure would generate a 100% payout for a total payout at 200%. 

 

	 	1.	Operating Ratio: OR is defined as CSX Corporation operating expenses divided by operating revenue. Performance achievement for the Cycle is based on cumulative
operating expenses and operating revenue for the Performance Period. 

 As the price of fuel has a significant
impact on OR, fuel-adjusted OR targets will apply to the OR performance measure if the average highway diesel fuel (“HDF”) price per gallon for the Performance Period falls outside of a pre-determined range (“fuel collar”).
Charts in Exhibit A reflect the OR targets and related payout percentages at various HDF prices. 
  

	 	2.	Return on Assets: ROA is defined as tax-adjusted operating income divided by net properties. 

 

							
	Return on Assets	  	=	  	 Tax-Adjusted Operating Income
	  	
	  	  	Net Properties	  	

 Tax Adjusted Operating Income is determined by applying a 38% tax rate to operating income.
This calculation is based on an annualized average during the Performance Period. Net properties is equal to gross properties less accumulated depreciation. This calculation is based on the quarterly average during the Performance Period.

 The terms operating income, properties, and accumulated depreciation shall be defined and measured as set forth in the
Company’s financial statements at the end of the Cycle. A chart in Exhibit A reflects the ROA targets and related payout percentages. 

 

	1 	The Committee, at its sole discretion, may grant to a Participant a different long term compensation dollar value than to other Participants within the same Band.

  
 2 

 OR and ROA have been selected as performance measures because of their high correlation to shareholder
returns. Efforts to improve these measures align CSX’s business objectives in a way that allows individuals to equate personal actions to desired performance outcomes. Each Plan Participant should be motivated to grow revenue, reduce expense,
improve service, increase productivity, improve safety, and increase asset utilization. 
 Performance Awards 

As shown in the Performance Measure and Payout Percentage Table in Exhibit B, Performance Awards are paid as a percentage of a Participant’s
Performance Units based upon the applicable measures discussed above. All Performance Awards will be paid in CSX common stock. 
 A Participant
who commits an act involving moral turpitude that adversely affects the reputation or business of the Companies shall forfeit any Performance Units. Examples of acts of moral turpitude include, but are not limited to, dishonesty or fraud involving
CSX or any affiliated company, their employees, vendors, or customers or a violation of the CSX Code of Ethics. 
 Participants subject to the
Claw Back Provision contained herein, who violate the conditions (i) through (v) of the Claw Back Provision below, shall forfeit any Performance Units. 
 No Performance Award is earned under the Plan until the Compensation Committee approves the payout percentage based upon the level of achievement of the performance measures for the Cycle. 

Impact of Change in Employment Status 
 Performance Awards will be paid only to Participants who are actively employed by the Companies at the end of the applicable three-year performance cycle. Except as provided below, all other Participants
whose employment terminates prior to the end of the Cycle shall forfeit any and all Performance Units and thus receive no Performance Award. All Performance Awards will be payable no later than March 15 following the end of the Cycle.

 A Participant whose employment terminates due to death, disability, or retirement shall be eligible to receive a pro-rata
Performance Award under the LTIP based on the Performance Award the Participant would have received had there been no death, disability or retirement. The pro-rata Performance Award will be determined based upon the number of months of participation
relative to the number of months in the Cycle. Retirement shall mean (i) the attainment of age 55 and 10 years of Company service, or (ii) the attainment of age 65. Disability shall mean long-term disability as defined in the CSX
Corporation Long-Term Disability Plan. In the case of death, such Performance Awards shall be paid to the Participant’s estate, or as otherwise required by law. 
 Participants whose hours are reduced so that they are no longer full time active employees during the 2013-2015 LTIP Cycle, as a result of a phased retirement or similar program at the request of or with
the consent of CSX, shall be entitled to a pro-rata Performance Award to the date of such change, and a pro-rata reduced Performance Award for the remaining portion of such 2013-2015 Cycle worked based on the reduced hours. 

Taxation of Performance Awards 
 Performance Awards will be paid in shares of CSX common stock. The value received by the Participant is taxable income; therefore CSX is required to withhold income taxes at the prescribed rates for both
supplemental income and employment taxes in accordance with applicable tax laws. CSX will withhold the minimum number of shares (in whole shares) equal in value to such required amount. No additional voluntary withholding amount is permitted.
Participants in the CSX Executive Deferred Compensation Plan may defer receipt of Performance Awards in accordance with the terms of that plan. 

  
 3 

 Plan Administration 
 The CSX Senior Vice President and Chief Administrative Officer shall be the Plan Administrator and shall interpret and construe the provisions of the Plan subject to the terms of the CSX Stock and
Incentive Award Plan and the Compensation Committee’s authority and responsibility thereunder. 
 Plan Amendments and Termination

 The Compensation Committee reserves the right to terminate, adjust, amend or suspend the Plan at any time at its sole discretion.

 Claw Back Provision 

The Claw Back Provision discussed herein applies only to Participants in Band 10 and above. 
 If such Participant receives a Performance Award, the following terms and conditions shall apply for the subsequent two-year period from the payout of the Performance Award (whether or not such
Participant continues to be employed by the Company). 
 Noncompetition: Such Participant shall not 

 

	 	(i)	without written Company consent, work for a Class I railroad in a capacity similar to the function performed over the 5 years prior to termination; or for a customer or
supplier for whom the Participant has had direct work responsibility in the prior 12 months in a capacity similar to the functions performed over the 5 years prior to termination; 

 

	 	(ii)	without written Company consent, solicit employees to work for a competitor in a capacity similar to such solicited employee’s capacity; 

 

	 	(iii)	without written Company consent, solicit the Companies’ customers on behalf of a competitor; 

 

	 	(iv)	without written Company consent, act in a manner adversarial or in any way contrary to the best interests of the Company; (for example, testifying as an expert witness
or becoming associated with a union or law firm that takes positions adverse to the Companies); 

  

	 	(v)	fail to provide the Company with information or documentation showing compliance with conditions (i), (ii), (iii) and (iv) stated above, if requested by the
Plan Administrator. 

 If a Participant breaches any of the conditions set forth above in this Claw Back Provision,
the Participant shall repay to the Company an amount equal to the value of the Performance Award. The value of the Performance Award is measured by the amount reported on Form W-2 for tax purposes. Any amount due hereunder shall be paid by the
Participant within thirty (30) days of notice by the Company to the Participant that the Participant has breached a condition stated above. 
 The Claw Back provision for noncompetition shall not survive any change in control event as defined in the CSX Stock Incentive Award Plan. 

Company Financial Irregularities: In the event of Company accounting irregularities discovered within two years after receipt of
payment in connection with a Performance Award, which requires the Company to restate its financial statements due to material noncompliance with any financial reporting requirements under applicable securities laws, the Participant shall repay all
amounts in excess of the Performance Award the Participant should have received as determined under the restated financial statements. 

  
 4 

 In cases where all or part of the Performance Award is deferred under the CSX Executive Deferred
Compensation Plan, breach of these conditions shall result in an immediate forfeiture of the portion deferred, in the amount needed to equal the applicable clawback amount, including any earnings thereon from the date of deferral. 

Consideration for Noncompete Agreement 
 In consideration for eligibility under this 2013-2015 LTIP Cycle, Employees in Band 10 and above must enter into a noncompete agreement, if not already in effect, as prescribed and agreed to by CSX.
Eligibility in the 2013-2015 LTIP Cycle for Employees in Band 10 and above is conditioned upon the existence of such noncompete agreement. 

Miscellaneous 
 By accepting a
Performance Award, the Participant authorizes the Company to withhold, to the extent permitted by law, any amount the Participant may otherwise owe to the Company in any other capacity whatsoever. 

The adoption of the 2013-2015 Cycle of the LTIP does not imply any commitment to continue the Plan or any other long-term incentive compensation plan or
program for any succeeding year or period. Neither the Plan, nor any Performance Unit, or Performance Award made under the Plan shall create any employment contract or relationship between the Companies and any Participant. 

Notwithstanding anything herein to the contrary, Performance Units issued to “covered employees” under Section 162(m) of the Internal
Revenue Code shall be treated in a manner intended to comply with Section 162(m) of the Internal Revenue Code. 
 Committee
Discretion 
 The Compensation Committee may apply its discretion in order to reduce payouts to Executive Team members based on the
Company’s relative Total Shareholder Return in accordance with Exhibit C. No upward discretion may be applied to LTIP payouts. 

  
 5

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