Document:

Amended and Restated 2004 Omnibus Incentive Plan, dated as of May 30, 2007

 Exhibit 10.1 
 As Supplemented, May 28, 2008 
 GENESEE & WYOMING INC. 
 AMENDED AND RESTATED 
 2004 OMNIBUS
INCENTIVE PLAN 
 Original Plan Effective May 12, 2004 
 Amended and Restated Plan Effective May 30, 2007 
 ARTICLE 1 
 PURPOSE AND TERM OF PLAN 
 Section 1.1 Purpose. The purpose of the Plan is to provide motivation to selected Employees, Directors and Consultants to put forth their efforts toward the continued growth, profitability, and success of the Company by
providing incentives to such Employees, Directors and Consultants through the ownership and performance of Common Stock. 
 Section 1.2 Term. The Plan was initially approved by the Board on April 2, 2004, and became effective on May 12, 2004, the date of the approval by G&W’s stockholders at the 2004 Annual Meeting of the
Stockholders. The Plan was amended by the Board on March 30, 2007 to increase the maximum number of shares of Common Stock available for grant of Awards under the Plan by 2,000,000, from 1,687,500 shares to 3,687,500 shares. This amendment will
become effective upon the date of the approval by G&W’s stockholders at the 2007 Annual Meeting of the Stockholders. If stockholder approval of the amendment is not obtained at the 2007 Annual Meeting of the Stockholders, the Plan as
initially approved in May 2004 will remain in full force and effect. 
 Section 1.3 Successor Plan. This Plan shall serve as the
successor to the Genesee & Wyoming Inc. 1996 Stock Option Plan, the Genesee & Wyoming Inc. Stock Option Plan for Outside Directors and the Genesee & Wyoming Deferred Stock Plan for Non-Employee Directors (the
“Predecessor Plans”), and no further awards shall be made under the Predecessor Plans from and after the effective date of this Plan. All outstanding awards under the Predecessor Plans immediately prior to the effective date of this Plan
are hereby incorporated into this Plan and shall accordingly be treated as outstanding awards under this Plan; provided, however, each such award shall continue to be governed solely by the terms and conditions of the instrument evidencing such
award and interpreted under the terms of the respective Predecessor Plan, and, except as otherwise expressly provided herein, no provision of this Plan shall affect or otherwise modify the rights or obligations of holders of such incorporated awards
with respect to their acquisition of shares of Common Stock, or otherwise modify the rights or the obligations of the holders of such awards. Any shares of Common Stock reserved for issuance under the Predecessor Plans in excess of the number of
shares as to which awards have been awarded thereunder, plus any such shares as to which awards granted under the Predecessor Plans may lapse, expire, terminate or be cancelled, shall be deemed available for issuance or reissuance under
Section 6.1 of the Plan. 

 ARTICLE 2 
 DEFINITIONS 
 In any necessary construction of a provision of this Plan, the masculine gender may
include the feminine, and the singular may include the plural, and vice versa. 
 Section 2.1 “Award” means any form of
stock option, stock appreciation right, Stock Award, Restricted Stock Unit, performance unit, Performance Award, or other incentive award granted under the Plan, whether singly, in combination, or in tandem, to a Participant by the Committee
pursuant to such terms, conditions, restrictions and/or limitations, if any, as the Committee may establish by the Award Notice or otherwise. 
 Section 2.2 “Award Notice” means the document establishing the terms, conditions, restrictions, and/or limitations of an Award in addition to those established by this Plan and by the Committee’s exercise of its
administrative powers. The Committee will establish the form of the document in the exercise of its sole and absolute discretion. 
 Section 2.3 “Board” means the Board of Directors of G&W. 
 Section 2.4 “CEO” means
the Chief Executive Officer of G&W. 
 Section 2.5 “Code” means the Internal Revenue Code of 1986, as amended from
time to time, including the regulations thereunder and any successor provisions and the regulations thereto. 
 Section 2.6
“Committee” means the Compensation Committee of the Board, or such other Board committee as may be designated by the Board to administer the Plan; provided that the Committee shall consist of two or more Directors, all of whom are
both a “Non-Employee Director” within the meaning of Rule 16b-3 under the Exchange Act and an “outside director” within the meaning of the definition of such term as contained in Proposed Treasury Regulation
Section 1.162-27(e)(3), or any successor definition adopted under Section 162(m) of the Code. 
 Section 2.7 “Common
Stock” means the Class A Common Stock, par value $.01 per share, of G&W. 
 Section 2.8 “Company”
means G&W and its Subsidiaries. 
 Section 2.9 “Consultants” means the consultants, advisors and independent
contractors retained by the Company. 
 Section 2.10 “Covered Employee” means an Employee who is a “covered
employee” within the meaning of Section 162(m) of the Code. 
  

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 Section 2.11 “Director” means a non-Employee member of the Board. 
 Section 2.12 “Effective Date” means the date an Award is determined to be effective by the Committee upon its grant of such Award,
which date shall be set forth in the applicable Award Notice. 
 Section 2.13 “Employee” means any person employed by
the Company on a full or part-time basis. 
 Section 2.14 “Exchange Act” means the Securities Exchange Act of 1934, as
amended from time to time, including the rules thereunder and any successor provisions and the rules thereto. 
 Section 2.15
“Fair Market Value” means the closing price of the Common Stock on the principal national securities exchange on which the Common Stock is then listed or admitted to trading, and the closing price shall be the last reported sale
price regular way on such date (or, if no sale takes place on such date, the last reported sale price regular way on the next preceding date on which such sale took place), as reported by such exchange. If the Common Stock is not then so listed or
admitted to trading on a national securities exchange, then Fair Market Value shall be the closing price (the last reported sale price regular way) of the Common Stock in the over-the-counter market as reported by the National Association of
Securities Dealers Automated Quotation System (“NASDAQ”), if the closing price of the Common Stock is then reported by NASDAQ. If the Common Stock closing price is not then reported by NASDAQ, then Fair Market Value shall be the mean
between the representative closing bid and closing asked prices of the Common Stock in the over-the-counter market as reported by NASDAQ. If the Common Stock bid and asked prices are not then reported by NASDAQ, then Fair Market Value shall be the
quote furnished by any member of the National Association of Securities Dealers, Inc. selected from time to time by G&W for that purpose. If no member of the National Association of Securities Dealers, Inc. then furnishes quotes with respect to
the Common Stock, then Fair Market Value shall be the value determined by the Committee in good faith. 
 Section 2.16
“G&W” means Genesee & Wyoming Inc. 
 Section 2.17 “Negative Discretion” means the
discretion authorized by the Plan to be applied by the Committee in determining the size of a Performance Award for a Performance Period if, in the Committee’s sole judgment, such application is appropriate. Negative Discretion may only be
used by the Committee to eliminate or reduce the size of a Performance Award. In no event shall any discretionary authority granted to the Committee by the Plan, including, but not limited to Negative Discretion, be used to: (a) grant
Performance Awards for a Performance Period if the Performance Goals for such Performance Period have not been attained under the applicable Performance Formula; or (b) increase a Performance Award above the maximum amount payable under
Section 6.3 of the Plan. 
  

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 Section 2.18 “Participant” means either an Employee, Director or Consultant to whom
an Award has been granted under the Plan. 
 Section 2.19 “Performance Awards” means the Stock Awards and performance
units granted pursuant to Article 7. Performance Awards are intended to qualify as “performance-based compensation” under Section 162(m) of the Code. 
 Section 2.20 “Performance Criteria” means the one or more criteria that the Committee shall select for purposes of establishing the Performance Goal(s) for a Performance Period. The
Performance Criteria that will be used to establish such Performance Goal(s) shall be limited to the following: (a) economic value added models; (b) operating ratio, (c) cost reduction (or limits on cost increases), (d) debt to
capitalization, (e) debt to equity, (f) earnings, (g) earnings before interest and taxes, (h) earnings before interest, taxes, depreciation and amortization, (i) earnings before interest, taxes, depreciation, amortization
and operating leases, (j) earnings per share, (k) net income, (l) operating income, (m) increase in total revenue, (n) net sales, (o) return on assets, (p) return on capital employed, (q) return on equity,
(r) return on stockholders’ equity, (s) gross margin, (t) net profit, (u) operating profits, (v) profits before tax, (w) ratio of operating earnings to capital spending, (x) free cash flow, (y) return on
assets, (z) equity or stockholders’ equity, (aa) Common Stock price per share, (ab) the number of reported injuries, derailments or other accidents, as defined and required by the Federal Railroad Administration (or such successor entity
thereto) in absolute numbers or in the ratio thereof to miles of track, employees, hours worked or other similar measurements, (ac) attainment of strategic or operational initiatives, or (ad) any combination of the foregoing, which, in each case,
may be applied on an absolute basis and/or be relative to one or more peer group companies or indices, or any combination thereof. 
 Section 2.21 “Performance Formula” means, for a Performance Period, the one or more objective formulas (expressed as a percentage or otherwise) applied against the relevant Performance Goal(s) to determine, with
regards to the Award of a particular Participant, whether all, some portion but less than all, or none of the Award has been earned for the Performance Period. 
 Section 2.22 “Performance Goals” means, for a Performance Period, the one or more goals established by the Committee for the Performance Period based upon the Performance Criteria. Any
Performance Goal shall be established in a manner such that a third party having knowledge of the relevant performance results could calculate the amount to be paid to the Participant. For any Performance Period, the Committee is authorized at
any time during the initial time period permitted by Section 162(m) of the Code, or at any time thereafter, in its sole and absolute discretion, to adjust or modify the calculation of a Performance Goal for such Performance Period in order to
prevent the dilution or enlargement of the rights of Participants (a) in the event of, or in anticipation of, any unusual or extraordinary corporate item, transaction, event or development; (b) in recognition of, or in anticipation of, any
other unusual or nonrecurring events affecting 

  

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the Company, or the financial statements of the Company, or in response to, or in anticipation of, changes in applicable laws, regulations, accounting
principles, or business conditions; and (c) in view of the Committee’s assessment of the business strategy of the Company, performance of comparable organizations, economic and business conditions, and any other circumstances deemed
relevant. 
 Section 2.23 “Performance Period” means the one or more periods of time, which may be of varying and
overlapping durations, as the Committee may select, over which the attainment of one or more Performance Goals will be measured for the purpose of determining a Participant’s right to and the payment of a Performance Award. 
 Section 2.24 “Plan” means this 2004 Omnibus Incentive Plan, as amended from time to time. 
 Section 2.25 “Restricted Stock Unit Award” means an Award granted pursuant to Article 11 in the form of a right to receive shares
of Common Stock on a future date. 
 Section 2.26 “Stock Award” means an award granted pursuant to Article 10 in the
form of shares of Common Stock, restricted shares of Common Stock, and/or units of Common Stock. 
 Section 2.27
“Subsidiary” means a corporation or other business entity in which G&W directly or indirectly has an ownership interest of 20 percent or more, except that with respect to incentive stock options, “Subsidiary” shall
mean “subsidiary corporation” as defined in Section 424(f) of the Code. 
 ARTICLE 3 
 ELIGIBILITY 
 Section 3.1 In
General. Subject to Section 3.2 and Article 4, all Employees, Directors and Consultants are eligible to participate in the Plan. The Committee may select, from time to time, Participants from those Employees, Directors and Consultants.

 Section 3.2 Incentive Stock Options. Only Employees shall be eligible to receive “incentive stock options” (within
the meaning of Section 422 of the Code). 
 ARTICLE 4 
 PLAN ADMINISTRATION 
 Section 4.1 Responsibility. The Committee shall have total and
exclusive responsibility to control, operate, manage and administer the Plan in accordance with its terms. 
  

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 Section 4.2 Authority of the Committee. The Committee shall have all the authority that may
be necessary or helpful to enable it to discharge its responsibilities with respect to the Plan. Without limiting the generality of the preceding sentence, the Committee shall have the exclusive right to: 
 (a) determine eligibility for participation in the Plan; 
 (b) select the Participants and determine the type of Awards to be made to Participants, the number of shares subject to Awards and the terms, conditions, restrictions and limitations of the Awards, including, but not
by way of limitation, restrictions on the transferability of Awards and conditions with respect to continued employment, performance criteria, confidentiality and non-competition; 
 (c) interpret the Plan; 
 (d) construe any
ambiguous provision, correct any default, supply any omission, and reconcile any inconsistency of the Plan; 
 (e) issue administrative
guidelines as an aid to administer the Plan and make changes in such guidelines as it from time to time deems proper; 
 (f) make regulations
for carrying out the Plan and make changes in such regulations as it from time to time deems proper; 
 (g) to the extent permitted under the
Plan, grant waivers of Plan terms, conditions, restrictions, and limitations; 
 (h) promulgate rules and regulations regarding treatment of
Awards of a Participant under the Plan in the event of such Participant’s death, Disability, Retirement, termination from the Company or breach of agreement by the Participant, or in the event of a change of control of G&W; 
 (i) accelerate the vesting, exercise, or payment of an Award or the Performance Period of an Award when such action or actions would be in the best
interest of the Company; 
 (j) establish such other types of Awards, besides those specifically enumerated in Article 5 hereof, which the
Committee determines are consistent with the Plan’s purpose; 
 (k) subject to Section 4.3, grant Awards in replacement of Awards
previously granted under this Plan or any other executive compensation plan of the Company; 
 (l) establish and administer the Performance
Goals and certify whether, and to what extent, they have been attained; 
 (m) determine the terms and provisions of any agreements entered
into hereunder; 
  

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 (n) take any and all other action it deems necessary or advisable for the proper operation or
administration of the Plan; and 
 (o) make all other determinations it deems necessary or advisable for the administration of the Plan,
including factual determinations. 
 The decisions of the Committee and its actions with respect to the Plan shall be final, binding and conclusive upon all
persons having or claiming to have any right or interest in or under the Plan. 
 Section 4.3 Option Repricing. Except for
adjustments pursuant to Section 6.2, the Committee shall not reprice any stock options and/or stock appreciation rights unless such action is approved by the G&W’s stockholders. For purposes of the Plan, the term “reprice”
shall mean the reduction, directly or indirectly, in the per-share exercise price of an outstanding stock option(s) and/or stock appreciation right(s) issued under the Plan by amendment, cancellation or substitution. 
 Section 4.4 Section 162(m) of the Code. With regards to Awards issued to Covered Employees that are intended to qualify as
“performance-based compensation” for purposes of Section 162(m) of the Code, the Plan shall, for all purposes, be interpreted and construed with respect to such Awards in the manner that would result in such interpretation or
construction satisfying the exemptions available under Section 162(m) of the Code. 
 Section 4.5 Action by the Committee.
Except as otherwise provided by Section 4.6, the Committee may act only by a majority of its members. Any determination of the Committee may be made, without a meeting, by a writing or writings signed by all of the members of the
Committee. 
 Section 4.6 Allocation and Delegation of Authority. The Committee may allocate all or any portion of its
responsibilities and powers under the Plan to any one or more of its members, the CEO or other senior members of management as the Committee deems appropriate and may delegate all or any part of its responsibilities and powers to any such person or
persons, provided that any such allocation or delegation be in writing; provided, however, that only the Committee, or other committee consisting of two or more Directors, all of whom are both a “Non-Employee Director” within the meaning
of Rule 16b-3 under the Exchange Act and an “outside director” within the meaning of the definition of such term as contained in Proposed Treasury Regulation Section 1.162-27(e)(3), or any successor definition adopted under
Section 162(m) of the Code, may select and grant Awards to Participants who are subject to Section 16 of the Exchange Act or are Covered Employees. The Committee may revoke any such allocation or delegation at any time for any reason
with or without prior notice. 
  

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 ARTICLE 5 
 FORM OF AWARDS 
 Section 5.1 In General. Awards may, at the Committee’s sole
discretion, be paid in the form of Performance Awards pursuant to Article 7, stock options pursuant to Article 8, stock appreciation rights pursuant to Article 9, Stock Awards pursuant to Article 10, Restricted Stock Unit Awards pursuant to Article
11, performance units pursuant to Article 12, any form established by the Committee pursuant to Section 4.2(j), or a combination thereof. Each Award shall be subject to the terms, conditions, restrictions and limitations of the Plan and
the Award Notice for such Award. Awards under a particular Article of the Plan need not be uniform and Awards under two or more Articles may be combined into a single Award Notice. Any combination of Awards may be granted at one time and
on more than one occasion to the same Participant. 
 Section 5.2 Foreign Jurisdictions. 
 (a) Special Terms. In order to facilitate the making of any Award to Participants who are employed or retained by the Company
outside the United States as Employees, Directors or Consultants (or who are foreign nationals temporarily within the United States), the Committee may provide for such modifications and additional terms and conditions (“Special Terms”) in
Awards as the Committee may consider necessary or appropriate to accommodate differences in local law, policy or custom or to facilitate administration of the Plan. The Special Terms may provide that the grant of an Award is subject to
(1) applicable governmental or regulatory approval or other compliance with local legal requirements and/or (2) the execution by the Participant of a written instrument in the form specified by the Committee, and that in the event such
conditions are not satisfied, the grant shall be void. The Special Terms may also provide that an Award shall become exercisable or redeemable, as the case may be, if an Employee’s employment or Director or Consultant’s relationship
with the Company ends as a result of workforce reduction, realignment or similar measure and the Committee may designate a person or persons to make such determination for a location. The Committee may adopt or approve sub-plans, appendices or
supplements to, or amendments, restatements, or alternative versions of, the Plan as it may consider necessary or appropriate for purposes of implementing any Special Terms, without thereby affecting the terms of the Plan as in effect for any other
purpose; provided, however, no such sub-plans, appendices or supplements to, or amendments, restatements, or alternative versions of, the Plan shall: (a) increase the limitations contained in Section 6.3; (b) increase the number of
available shares under Section 6.1; or (c) cause the Plan to cease to satisfy any conditions of Rule 16b-3 under the Exchange Act. 
 (b) Currency Effects. Unless otherwise specifically determined by the Committee, all Awards and payments pursuant to such Awards shall be determined in U.S. currency. The Committee shall determine, in
its discretion, whether and to the extent any payments made pursuant to an Award shall be made in local currency, as opposed to U.S. dollars. In the event payments are made in local currency, the Committee may determine, in its discretion and
without liability to any Participant, the method and rate of converting the payment into local currency. 
  

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 ARTICLE 6 
 SHARES SUBJECT TO PLAN 
 Section 6.1 Available Shares. The maximum number of shares
of Common Stock which shall be available for grant of Awards under the Plan (including incentive stock options) during its term shall not exceed 3,687,500 (plus any shares of Common Stock which are or become available under Section 1.3, which
shares shall also be available for grant of Awards under the Plan); provided, however, that no more than 843,750 shares of such maximum number of shares of Common Stock may be used for Awards other than stock options or stock appreciation
rights. Such amount shall be subject to adjustment as provided in Section 6.2. Any shares of Common Stock related to Awards which terminate by expiration, forfeiture, cancellation or otherwise without the issuance of such shares, are
settled in cash in lieu of Common Stock, or are exchanged with the Committee’s permission for Awards not involving Common Stock, shall be available again for grant under the Plan. Moreover, if the exercise price of any Award granted under
the Plan or the tax withholding requirements with respect to any Award granted under the Plan are satisfied by tendering shares of Common Stock to G&W (by either actual delivery or by attestation), only the number of shares of Common Stock
issued net of the shares of Common Stock tendered will be deemed delivered for purposes of determining the maximum number of shares of Common Stock available for delivery under the Plan. The shares of Common Stock available for issuance under
the Plan may be authorized and unissued shares or treasury shares, including shares purchased in open market or private transactions. For the purpose of computing the total number of shares of Common Stock granted under the Plan, where one or more
types of Awards, both of which are payable in shares of Common Stock, are granted in tandem with each other, such that the exercise of one type of Award with respect to a number of shares cancels an equal number of shares of the other, the number of
shares granted under both Awards shall be deemed to be equivalent to the number of shares under one of the Awards. 
 Section 6.2
Adjustment Upon Certain Events. In the event that there is, with respect to G&W, a stock dividend or split, reorganization, recapitalization, merger, consolidation, spin-off, combination, combination or transaction or exchange of Common
Stock or other corporate exchange, or any distribution to stockholders of Common Stock or other property or securities (other than regular cash dividends) or any transaction similar to the foregoing or other transaction that results in a change to
G&W’s capital structure, then the Committee shall make substitutions and/or adjustments to the maximum number of shares available for issuance under the Plan, the maximum Award payable under Section 6.3, the number of shares to be
issued pursuant outstanding Awards, the option prices, exercise prices or purchase prices of outstanding Awards and/or any other affected terms of an Award or the Plan as the Committee, in its sole discretion and without liability to any person,
deems equitable or appropriate. Unless the Committee determines otherwise, in no event shall the Award of any Participant that is intended to qualify as “performance-based compensation” for purposes of Section 162(m) of the Code be
adjusted pursuant to this Section 6.2 to the extent such adjustment would cause such Award to fail to qualify as “performance-based compensation” under Section 162(m) of the Code. 
  

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 Section 6.3 Maximum Award Payable. Subject to Section 6.2, and notwithstanding any
provision contained in the Plan to the contrary, the maximum Award payable (or granted, if applicable) to any one Participant under the Plan for a calendar year is 1,012,500 shares of Common Stock or, in the event the Award is paid in cash,
$2,000,000. 
 ARTICLE 7 
 PERFORMANCE AWARDS 
 Section 7.1 Purpose. For purposes of Performance Awards issued to Employees, Directors and
Consultants which are intended to qualify as “performance-based compensation” for purposes of Section 162(m) of the Code, the provisions of this Article 7 shall apply in addition to and, where necessary, in lieu of the provisions of
Article 10, Article 11 and Article 12. The purpose of this Article is to provide the Committee the ability to qualify the Stock Awards authorized under Article 10, the Restricted Stock Unit Awards authorized under Article 11 and the performance
units under Article 12 as “performance-based compensation” under Section 162(m) of the Code. The provisions of this Article 7 shall control over any contrary provision contained in Article 10, Article 11 or Article 12.

 Section 7.2 Eligibility. For each Performance Period, the Committee will, in its sole discretion, designate within the initial
period allowed under Section 162(m) of the Code, which Employees, Directors and Consultants will be Participants for such period. However, designation of an Employee, Director or Consultant as a Participant for a Performance Period shall
not in any manner entitle the Participant to receive an Award for the period. The determination as to whether or not such Participant becomes entitled to an Award for such Performance Period shall be decided solely in accordance with the
provisions of this Article 7. Moreover, designation of an Employee, Director or Consultant as a Participant for a particular Performance Period shall not require designation of such Employee, Director or Consultant as a Participant in any
subsequent Performance Period and designation of one Employee, Director or Consultant as a Participant shall not require designation of any other Employee, Director or Consultant as a Participant in such period or in any other period. 
 Section 7.3 Discretion of Committee with Respect to Performance Awards. The Committee shall have the authority to determine which Covered
Employees or other Employees, Directors or Consultants shall be Participants of a Performance Award. With regards to a particular Performance Period, the Committee shall have full discretion to select the length of such Performance Period, the
type(s) of Performance Awards to be issued, the Performance Criteria that will be used to establish the Performance Goal(s), the kind(s) and/or level(s) of the Performance Goal(s), whether the Performance Goal(s) is(are) to apply to the Company or
any one or more subunits thereof and the Performance 

  

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Formula. For each Performance Period, with regards to the Performance Awards to be issued for such period, the Committee will, within the initial period
allowed under Section 162(m) of the Code, exercise its discretion with respect to each of the matters enumerated in the immediately preceding sentence of this Section 7.3 and record the same in writing. 
 Section 7.4 Payment of Performance Awards. 
 (a) Condition to Receipt of Performance Award. Unless otherwise provided in the relevant Award Notice, a Participant must be employed by the Company on the last day of a Performance Period to be eligible
for a Performance Award for such Performance Period. 
 (b) Limitation. A Participant shall be eligible to receive
a Performance Award for a Performance Period only to the extent that: (1) the Performance Goals for such period are achieved; and (2) and the Performance Formula as applied against such Performance Goals determines that all or some portion
of such Participant’s Performance Award has been earned for the Performance Period. 
 (c)
Certification. Following the completion of a Performance Period, the Committee shall meet to review and certify in writing whether, and to what extent, the Performance Goals for the Performance Period have been achieved and, if so, to also
calculate and certify in writing the amount of the Performance Awards earned for the period based upon the Performance Formula. The Committee shall then determine the actual size of each Participant’s Performance Award for the Performance
Period and, in so doing, shall apply Negative Discretion, if and when it deems appropriate. 
 (d) Negative
Discretion. In determining the actual size of an individual Performance Award for a Performance Period, the Committee may reduce or eliminate the amount of the Performance Award earned under the Performance Formula for the Performance
Period through the use of Negative Discretion, if in its sole judgment, such reduction or elimination is appropriate. 
 (e) Timing of Award Payments. The Awards granted for a Performance Period shall be paid to Participants as soon as administratively practicable following completion of the certifications required by Section 7.4(c).

  

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 ARTICLE 8 
 STOCK OPTIONS 
 Section 8.1 In General. Awards may be granted in the form of stock
options. These stock options may be incentive stock options within the meaning of Section 422 of the Code or non-qualified stock options (i.e., stock options which are not incentive stock options), or a combination of both. All Awards
under the Plan issued to Covered Employees in the form of non-qualified stock options shall qualify as “performance-based compensation” under Section 162(m) of the Code. 
 Section 8.2 Terms and Conditions of Stock Options. An option shall be exercisable in accordance with such terms and conditions and at such
times and during such periods as may be determined by the Committee. The price at which Common Stock may be purchased upon exercise of a stock option shall be not less than 100 percent of the Fair Market Value of the Common Stock, as determined
by the Committee, on the Effective Date of the option’s grant. In addition, the term of a stock option may not exceed ten years. 
 Section 8.3 Restrictions Relating to Incentive Stock Options. Stock options issued in the form of incentive stock options shall, in addition to being subject to the terms and conditions of Section 8.2, comply with
Section 422 of the Code. Accordingly, the aggregate Fair Market Value (determined at the time the option was granted) of the Common Stock with respect to which incentive stock options are exercisable for the first time by a Participant
during any calendar year (under this Plan or any other plan of the Company) shall not exceed $100,000 (or such other limit as may be required by Section 422 of the Code). 
 Section 8.4 Exercise. Upon exercise, the option price of a stock option may be paid in cash, or, to the extent permitted by the Committee, by
tendering, by either actual delivery of shares or by attestation, shares of Common Stock, a combination of the foregoing, or such other consideration as the Committee may deem appropriate. The Committee shall establish appropriate methods for
accepting Common Stock, whether restricted or unrestricted, and may impose such conditions as it deems appropriate on the use of such Common Stock to exercise a stock option. Stock options awarded under the Plan may also be exercised by way of
a broker-assisted stock option exercise program, if any, provided such program is available at the time of the option’s exercise. Notwithstanding the foregoing or the provision of any Award Notice, a Participant may not pay the exercise price
of a stock option using shares of Common Stock if, in the opinion of counsel to the Company, (i) the Participant is, or within the six months preceding such exercise was, subject to reporting under Section 16(a) of the Exchange Act and
(ii) there is a substantial likelihood that the use of such form of payment or the timing of such form of payment would subject the Participant to a substantial risk of liability under Section 16 of the Exchange Act, or (iii) there is
a substantial likelihood that the use of such form of payment would result in accounting treatment to the Company under generally accepted accounting principles that the Committee reasonably determines is adverse to the Company. 
  

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 ARTICLE 9 
 STOCK APPRECIATION RIGHTS 
 Section 9.1 In General. Awards may be granted in the form of
stock appreciation rights (“SARs”). SARs entitle the Participant to receive a payment equal to the appreciation in a stated number of shares of Common Stock from the exercise price to the Fair Market Value of the Common Stock on the date
of exercise. The “exercise price” for a particular SAR shall be defined in the Award Notice for that SAR. An SAR may be granted in tandem with all or a portion of a related stock option under the Plan (“Tandem SARs”), or may
be granted separately (“Freestanding SARs”). A Tandem SAR may be granted either at the time of the grant of the related stock option or at any time thereafter during the term of the stock option. All Awards under the Plan issued to Covered
Employees in the form of a SAR shall qualify as “performance-based compensation” under Section 162(m) of the Code. 
 Section 9.2 Terms and Conditions of Tandem SARs. A Tandem SAR shall be exercisable to the extent, and only to the extent, that the related stock option is exercisable, and the “exercise price” of such a SAR (the base
from which the value of the SAR is measured at its exercise) shall be the option price under the related stock option. However, at no time shall a Tandem SAR be issued if the option price of its related stock option is less than the Fair Market
Value of the Common Stock, as determined by the Committee, on the Effective Date of the Tandem SAR’s grant. If a related stock option is exercised as to some or all of the shares covered by the Award, the related Tandem SAR, if any, shall
be canceled automatically to the extent of the number of shares covered by the stock option exercise. Upon exercise of a Tandem SAR as to some or all of the shares covered by the Award, the related stock option shall be canceled automatically
to the extent of the number of shares covered by such exercise. Moreover, all Tandem SARs shall expire not later than ten years from the Effective Date of the SAR’s grant. 
 Section 9.3 Terms and Conditions of Freestanding SARs. Freestanding SARs shall be exercisable or automatically mature in accordance with such
terms and conditions and at such times and during such periods as may be determined by the Committee. The exercise price of a Freestanding SAR shall be not less than 100 percent of the Fair Market Value of the Common Stock on the Effective Date
of the Freestanding SAR’s grant. Moreover, all Freestanding SARs shall expire not later than ten years from the Effective Date of the Freestanding SAR’s grant. 
 Section 9.4 Deemed Exercise. The Committee may provide that a SAR shall be deemed to be exercised at the close of business on the scheduled expiration date of such SAR if at such time the SAR by its terms
remains exercisable and, if so exercised, would result in a payment to the holder of such SAR. 
 Section 9.5 Payment. Unless
otherwise provided in an Award Notice, an SAR may be paid in cash, Common Stock or any combination thereof, as determined by the Committee, in its sole and absolute discretion, at the time that the SAR is exercised. 
  

 13 

 ARTICLE 10 
 STOCK AWARDS 
 Section 10.1 Grants. Awards may be granted in the form of Stock
Awards. Stock Awards shall be awarded in such numbers and at such times during the term of the Plan as the Committee shall determine. 
 Section 10.2 Performance Criteria. For Stock Awards conditioned, restricted and/or limited based on performance criteria, the length of the performance period, the performance objectives to be achieved during the performance
period, and the measure of whether and to what degree such objectives have been attained shall be conclusively determined by the Committee in the exercise of its absolute discretion. Performance objectives may be revised by the Committee, at
such times as it deems appropriate during the performance period, in order to take into consideration any unforeseen events or changes in circumstances. 
 Section 10.3 Rights as Stockholders. During the period in which any restricted shares of Common Stock are subject to any restrictions, the Committee may, in its sole discretion, deny a Participant to whom
such restricted shares have been awarded all or any of the rights of a stockholder with respect to such shares, including, but not by way of limitation, limiting the right to vote such shares or the right to receive dividends on such shares.

 Section 10.4 Evidence of Award. Any Stock Award granted under the Plan may be evidenced in such manner as the Committee deems
appropriate, including, without limitation, book-entry registration or issuance of a stock certificate or certificates, with such restrictive legends and/or stop transfer instructions as the Committee deems appropriate. 
 ARTICLE 11 
 RESTRICTED STOCK UNIT
AWARDS 
 Section 11.1 Grants. Awards may be granted in the form of Restricted Stock Unit Awards. Restricted Stock Unit
Awards shall be awarded in such numbers and at such times during the term of the Plan as the Committee shall determine. 
 Section 11.2 Rights as Stockholders. Until the shares of Common Stock to be received upon the vesting of such Restricted Stock Unit Award are actually received by a Participant, the Participant shall have no rights as a
stockholder with respect to such shares. 
 Section 11.3 Evidence of Award. A Restricted Stock Unit Award granted under the Plan
may be recorded on the books and records of G&W in such manner as the Committee deems appropriate. 
  

 14 

 ARTICLE 12 
 PERFORMANCE UNITS 
 Section 12.1 Grants. Awards may be granted in the form of performance
units. Performance units, as that term is used in this Plan, shall refer to units valued by reference to designated criteria established by the Committee, other than Common Stock. 
 Section 12.2 Performance Criteria. Performance units shall be contingent on the attainment during a performance period of certain performance
objectives. The length of the performance period, the performance objectives to be achieved during the performance period, and the measure of whether and to what degree such objectives have been attained shall be conclusively determined by the
Committee in the exercise of its absolute discretion. Performance objectives may be revised by the Committee, at such times as it deems appropriate during the performance period, in order to take into consideration any unforeseen events or
changes in circumstances. 
 ARTICLE 13 
 PAYMENT OF AWARDS 
 Section 13.1 Payment. Absent a Plan or Award Notice provision to the
contrary, payment of Awards may, at the discretion of the Committee, be made in cash, Common Stock, a combination of cash and Common Stock, or any other form of property as the Committee shall determine. In addition, payment of Awards may
include such terms, conditions, restrictions and/or limitations, if any, as the Committee deems appropriate, including, in the case of Awards paid in the form of Common Stock, restrictions on transfer and forfeiture provisions; provided, however,
such terms, conditions, restrictions and/or limitations are not inconsistent with the Plan. 
 Section 13.2 Withholding Taxes.
The Company shall be entitled to deduct from any payment under the Plan, regardless of the form of such payment, the amount of all applicable income and employment taxes required by law to be withheld with respect to such payment or may require the
Participant to pay to it such tax prior to and as a condition of the making of such payment. In accordance with any applicable administrative guidelines it establishes, the Committee may allow a Participant to pay the amount of taxes required by law
to be withheld from an Award by withholding from any payment of Common Stock due as a result of such Award, or by permitting the Participant to deliver to G&W, shares of Common Stock having a Fair Market Value equal to the minimum amount of such
required withholding taxes. Notwithstanding the foregoing or the provision of any Award Notice, a Participant may not pay the amount of taxes required by law to be withheld using shares of Common Stock if, in the opinion of counsel to the
Company, (i) the Participant is, or within the six months preceding such exercise was, subject to reporting under Section 16(a) of the Exchange Act and (ii) there is a substantial likelihood that the use of such form of payment or the
timing of such form of payment would subject the Participant to a substantial risk of liability under Section 16 of the Exchange Act, or (iii) there is a substantial likelihood that the use of such form of payment would result in adverse
accounting treatment to the Company under generally accepted accounting principles. 
  

 15 

 ARTICLE 14 
 DIVIDEND AND DIVIDEND EQUIVALENTS 
 If an Award is granted in the form of a Stock Award or stock
option, or in the form of any other stock-based grant, the Committee may choose, at the time of the grant of the Award or any time thereafter up to the time of the Award’s payment, to include as part of such Award an entitlement to receive
dividends or dividend equivalents, subject to such terms, conditions, restrictions and/or limitations, if any, as the Committee may establish. Dividends and dividend equivalents shall be paid in such form and manner (i.e., lump sum or
installments), and at such time(s) as the Committee shall determine. All dividends or dividend equivalents which are not paid currently may, at the Committee’s discretion, accrue interest, be reinvested into additional shares of Common
Stock or, in the case of dividends or dividend equivalents credited in connection with Stock Awards, be credited as additional Stock Awards and paid to the Participant if and when, and to the extent that, payment is made pursuant to such Award.

 ARTICLE 15 
 DEFERRAL
OF AWARDS 
 At the discretion of the Committee, payment of any Award; salary or bonus compensation; or Company board compensation;
dividend or dividend equivalent, or any portion thereof, may be deferred by a Participant until such time as the Committee may establish. All such deferrals shall be accomplished by the delivery of a written, irrevocable election by the
Participant prior to the time established by the Committee for such purpose, on a form provided by the Company. Further, all deferrals shall be made in accordance with administrative guidelines established by the Committee to ensure that such
deferrals comply with all applicable requirements of the Code. Deferred payments shall be paid in a lump sum or installments, as determined by the Committee. Deferred Awards may also be credited with interest, at such rates to be
determined by the Committee, or invested by the Company, and, with respect to those deferred Awards denominated in the form of Common Stock, credited with dividends or dividend equivalents. 
 ARTICLE 16 
 MISCELLANEOUS 
 Section 16.1 Nonassignability. Except as otherwise provided in an Award Notice, no Awards or any other payment under the Plan shall be
subject in any manner to alienation, anticipation, sale, transfer (except by will or the laws of descent and distribution), assignment or pledge, nor shall any Award be payable to or exercisable by anyone other than the Participant to whom it was
granted. 
  

 16 

 Section 16.2 Regulatory Approvals and Listings. Notwithstanding anything contained in this
Plan to the contrary, G&W shall have no obligation to issue or deliver certificates of Common Stock evidencing Stock Awards or any other Award resulting in the payment of Common Stock prior to (i) the obtaining of any approval from any
governmental agency which G&W shall, in its sole discretion, determine to be necessary or advisable, (ii) the admission of such shares to listing on the stock exchange on which the Common Stock may be listed, and (iii) the completion
of any registration or other qualification of said shares under any state or federal law or ruling of any governmental body which G&W shall, in its sole discretion, determine to be necessary or advisable. 
 Section 16.3 No Right to Continued Employment or Grants. Participation in the Plan shall not give any Participant the right to remain in the
employ or other service of the Company. The Company reserves the right to terminate the employment or other service of a Participant at any time. Further, the adoption of this Plan shall not be deemed to give any Employee, Director or any
other individual any right to be selected as a Participant or to be granted an Award. In addition, no Employee, Director or any other individual having been selected for an Award, shall have at any time the right to receive any additional
Awards. 
 Section 16.4 Amendment/Termination. The Committee may suspend or terminate the Plan at any time for any reason with or
without prior notice. In addition, the Committee may, from time to time for any reason and with or without prior notice, amend the Plan in any manner, but may not without stockholder approval adopt any amendment which would require the vote of
the stockholders of G&W if such approval is necessary or deemed advisable with respect to tax, securities, or other applicable laws or regulations, including, but not limited to, the listing requirements of the stock exchanges on which the
securities of G&W are listed. Notwithstanding the foregoing, without the consent of a Participant (except as otherwise provided in Section 6.2), no amendment may materially and adversely affect any of the rights of such Participant under
any Award theretofore granted to such Participant under the Plan. 
 Section 16.5 Governing Law. The Plan shall be governed by
and construed in accordance with the laws of the State of New York, except as superseded by applicable federal law, without giving effect to its conflicts of law provisions. 
 Section 16.6 No Right, Title, or Interest in Company Assets. No Participant shall have any rights as a stockholder as a result of
participation in the Plan until the date of issuance of a stock certificate in his or her name, and, in the case of restricted shares of Common Stock, such rights are granted to the Participant under the Plan. To the extent any person acquires
a right to receive payments from the Company under the Plan, such rights shall be no greater than the rights of an unsecured creditor of the Company and the Participant shall not have any rights in or against any specific assets of the
Company. All of the Awards granted under the Plan shall be unfunded. 
  

 17 

 Section 16.7 No Guarantee of Tax Consequences. No person connected with the Plan in any
capacity, including, but not limited to, the Company and its directors, officers, agents and employees, makes any representation, commitment, or guarantee that any tax treatment, including, but not limited to, federal, state and local income, estate
and gift tax treatment, will be applicable with respect to the tax treatment of any Award, any amounts deferred under the Plan, or paid to or for the benefit of a Participant under the Plan, or that such tax treatment will apply to or be available
to a Participant on account of participation in the Plan. 
 * * * * * 
  

 18Form of Option Award Notice under Amended & Restated 2004 Omnibus Incentive Plan

 Exhibit 10.2 
 GENESEE & WYOMING INC. 
 AMENDED AND RESTATED 2004 OMNIBUS INCENTIVE PLAN 

FORM OF OPTION AWARD NOTICE 
  

			
	 Grantee:
	  	[Name]
	 Type of Award:
	  	[Type]
	 Number of Shares:
	  	[Number]
	 Exercise Price Per Share:
	  	[Price]
	 Date of Grant:
	  	[Date]
	 Expiration Date:
	  	[Date]

 1. Grant of Option. This Award Notice serves to notify you that the Compensation Committee
(the “Committee”) of the Board of Directors of Genesee & Wyoming Inc. (“G&W”) hereby grants to you, under G&W’s Amended and Restated 2004 Omnibus Incentive Plan (the “Plan”), an [Type] stock option
(the “Option”) to purchase, on the terms and conditions set forth in this Award Notice and the Plan, up to the number of shares of G&W’s Class A Common Stock, par value $.01 per share (the “Common Stock”) at the
price per share set forth above. The Plan is incorporated herein by reference and made a part of this Award Notice. A copy of the Plan is available on G&W’s Intranet under Corporate Policies then Human Resources or from G&W’s Human
Resources Department upon request. You should review the terms of this Award Notice and the Plan carefully. The capitalized terms used in this Award Notice that are not defined herein have the meanings as defined in the Plan. 
 2. Term. Unless the Option is previously terminated pursuant to the terms of the Plan, the Option will expire at the close of business on the
Expiration Date. 
 3. Vesting. Subject to the terms set forth in this Award Notice and the Plan, the Option will vest and
become exercisable as follows:  
  

	 	(i)	the Option shall first become exercisable with respect to [Number] Shares on [Date]; 

  

	 	(ii)	the Option shall first become exercisable with respect to an additional [Number] Shares on [Date]; 

  

	 	(iii)	the Option shall first become exercisable with respect to an additional [Number] Shares on [Date]; and 

	4.	Exercise. 

 (a) Method of Exercise. To the
extent exercisable under Section 3, the Option may be exercised in whole or in part, provided that the Option may not be exercised for less than one share of Common Stock in any single transaction. The Option shall be exercised by your giving
written notice of such exercise to G&W specifying the number of shares of Common Stock that you elect to purchase and the Exercise Price to be paid. Upon determining that compliance with this Award Notice has occurred, including compliance with
such reasonable requirements as G&W may impose pursuant to the Plan or Section 12 of this Award Notice and payment of the Exercise Price, G&W shall issue to you a certificate for the shares of Common Stock purchased on the earliest
practicable date (as determined by G&W) thereafter. 
 (b) Payment of Exercise Price. To the extent permissible under the Plan, the
Exercise Price may be paid using any one or any combination of the following methods: 
 (i) in cash or by check, with such
payment accompanying your written exercise notice; 
 [(ii) by delivery of shares of Common Stock already owned by you, with
such shares of Common Stock valued at their Fair Market Value on the date of the Option exercise;] [NOTE: not applicable in Australia or the Netherlands; insert “(ii) RESERVED” if not applicable] 
 (iii) subject to any and all limitations imposed by the Committee from time to time (which may not be uniform), a “cashless
exercise,” whereby you would irrevocably instruct a broker or dealer to sell shares of Common Stock on your behalf and deliver cash sale proceeds to G&W in payment of the Exercise Price and direct G&W to deliver shares of Common Stock
to be issued upon such exercise of this Option directly to such broker or dealer; or 
 (iv) any other method approved or
accepted by the Committee in its sole discretion, subject to any and all limitations imposed by the Committee from time to time (which may not be uniform). 
 [(c) Withholdings. The exercise of the Option is conditioned upon your making arrangements satisfactory to G&W for the payment to G&W of the amount of all taxes required by any governmental authority to
be withheld and paid over by G&W to the governmental authority on account of the exercise. The payment of such withholding taxes to G&W may be made by one or any combination of the following methods: (i) in cash or by check,
(ii) by G&W withholding such taxes from any other compensation owed to you by G&W or any Subsidiary, (iii) pursuant to a cashless exercise program as contemplated in Section 4(b)(iii) above or (iv) any other method
approved or accepted by the Committee in its sole discretion, subject, in the case of Section 4(c)(iii) and this Section 4(c)(iv), to any and all limitations imposed by the Committee from time to time (which may not be uniform) as
contemplated in Section 4(b)(iii) and Section 4(b)(iv) above.] [NOTE: this version of 4(c) is applicable in U.S. and Canada only] 
  

 2 

 [(c) Responsibility for Taxes. Regardless of any action G&W or your employer
(the “Employer”) takes with respect to any or all income tax, social insurance, payroll tax, payment on account or other tax-related withholding (“Tax-Related Items”), you acknowledge that the ultimate liability for all
Tax-Related Items legally due by you is and remains your responsibility and that G&W and/or the Employer (1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the
Option grant, including the grant, vesting or exercise of the Option, the subsequent sale of shares of Common Stock acquired pursuant to such exercise and the receipt of any dividends; and (2) do not commit to structure the terms of the grant
or any aspect of the Option to reduce or eliminate your liability for Tax-Related Items. 
 Prior to exercise of the Option, you shall pay or
make adequate arrangements satisfactory to G&W and/or the Employer to satisfy all withholding and payment on account obligations of G&W and/or the Employer. In this regard, you authorize G&W and/or the Employer to withhold all applicable
Tax-Related Items legally payable by you from your wages or other cash compensation paid to you by G&W and/or the Employer or from proceeds of the sale of shares of Common Stock. Alternatively, or in addition, if permissible under local law,
G&W may (1) sell or arrange for the sale of shares of Common Stock that you acquire to meet the withholding obligation for Tax-Related Items, and/or (2) withhold in shares of Common Stock, provided that G&W only withholds the
amount of shares of Common Stock necessary to satisfy the minimum withholding amount. Finally, you shall pay to G&W or the Employer any amount of Tax-Related Items that G&W or the Employer may be required to withhold as a result of your
participation in the Plan or your purchase of shares of Common Stock that cannot be satisfied by the means previously described. G&W may refuse to honor the exercise and refuse to deliver the shares of Common Stock if you fail to comply with
your obligations in connection with the Tax-Related Items as described in this section. 
 The payment of such withholding taxes to
G&W may also be made pursuant to any method approved or accepted by the Committee in its sole discretion, subject to any and all limitations imposed by the Committee from time to time (which may not be uniform) as contemplated in
Section 4(b)(iii) and 4(b)(iv).] [NOTE: this version of 4(c) is applicable in Australia and the Netherlands only] 
 5. Effect
of Death. In the event of your death prior to the complete exercise of the Option, the remaining portion of the Option may be exercised in whole or in part, subject to all of the conditions on exercise imposed by the Plan and this Award Notice,
within one year after the date of your death, but only: (i) by the beneficiary designated on your beneficiary designation form filed with G&W, or in the absence of same, by your estate or by or on behalf of the person or persons to whom the
Option passes under your will or the laws of descent and distribution, (ii) to the extent that the Option was vested and exercisable on the date of your death, and (iii) prior to the close of business on the Expiration Date of the Option.

  

 3 

 6. Effect of Disability. In the event of your “Disability” prior to the complete
exercise of the Option, the remaining portion of the Option may be exercised in whole or in part, subject to all of the conditions on exercise imposed by the Plan and this Award Notice, within one year after the date of your Disability, but only:
(i) to the extent that the Option was vested and exercisable on the date of your Disability, and (ii) prior to the close of business on the Expiration Date of the Option. The term “Disability” means you are permanently and
totally disabled within the meaning of Section 22(e)(3) of the Code. 
 7. Effect of Other Termination. 
 (a) With “Cause.” Upon your termination by G&W for Cause prior to the complete exercise of the Option, the remaining
portion of the Option, whether or not then exercisable, shall be forfeited as of the date of such termination and no longer exercisable on or after such date of termination. 
 (b) Without “Cause.” Upon your termination for a reason other than death, Disability or Cause prior to the complete
exercise of the Option, the remaining portion of the Option may be exercised in whole or in part, subject to all of the conditions on exercise imposed by the Plan and this Award Notice, within three months after the date of such termination, but
only: (i) to the extent that the Option was vested and exercisable on the date such termination, and (ii) prior to the Expiration Date of the Option. 
 (c) The term “Cause” means (i) your willful and continued failure to substantially perform your duties with G&W or a
Subsidiary after written warnings identifying the lack of substantial performance are delivered to you to specifically identify the manner in which G&W or a Subsidiary believes that you have not substantially performed your duties,
(ii) your willful engaging in illegal conduct which is materially and demonstrably injurious to G&W or any Subsidiary, (iii) your commission of a felony, (iv) your material breach of a fiduciary duty owed by you to G&W or any
Subsidiary, (v) your intentional unauthorized disclosure to any person of confidential information or trade secrets of a material nature relating to the business of G&W or any Subsidiary, or (vi) your engaging in any conduct that
G&W’s or a Subsidiary’s written rules, regulations or policies specify as constituting grounds for discharge. 
 [(d) in the event of termination of your employment (whether or not in breach of local labor laws), your right to receive an Option and vest in an Option under the Plan, if any, will terminate effective as of the date that you are no longer
actively employed and will not be extended by any notice period mandated under local law (e.g., active employment would not include a period of “garden leave” or similar period pursuant to local law); furthermore, in the event of
termination of employment (whether or not in breach of local labor laws), your right to exercise the Option after termination of employment, if any, will be measured by the date of termination of your active 

  

 4 

 
employment and will not be extended by any notice period mandated under local law; the Committee shall have the exclusive discretion to determine when you
are no longer actively employed for purposes of your Option grant.] [NOTE: this provision is applicable in Australia and the Netherlands only] 
 8. Notice of Disposition of Shares. You hereby agree that you shall promptly notify G&W of the disposition of any of the shares of Common Stock acquired upon exercise of the Option, including a disposition
by sale, exchange, gift or transfer of legal title, if such disposition occurs within two years from the Date of Grant or within one year from the date that you exercise the Option and acquire such shares of Common Stock. 
 9. Nonassignability. The Option may not be alienated, transferred, assigned or pledged (except by will or the laws of descent and distribution).
Except as otherwise provided by Section 5 of this Award Notice, the Option is only exercisable by you during your lifetime. 
 10.
Limitation of Rights. You will not have any rights as a stockholder with respect to the shares of Common Stock covered by the Option until you become the holder of record of such shares by exercising the Option. Neither the Plan, the granting
of the Option nor this Award Notice gives you any right to remain in the employment of G&W or any Subsidiary. 
 11. Rights of G&W
and Subsidiaries. This Award Notice does not affect the right of G&W or any Subsidiary to take any corporate action whatsoever, including without limitation its right to recapitalize, reorganize or make other changes in its capital structure
or business, merge or consolidate, issue bonds, notes, shares of Common Stock or other securities, including preferred stock, or options therefor, dissolve or liquidate, or sell or transfer any part of its assets or business. 
 12. Restrictions on Issuance of Shares. If at any time G&W determines that the listing, registration or qualification of the shares covered by
the Option upon any securities exchange or under any federal, state or local law, or the approval of any governmental agency, is necessary or advisable as a condition to the exercise of the Option, the Option may not be exercised in whole or in part
unless and until such listing, registration, qualification or approval shall have been effected or obtained free of any conditions not acceptable to G&W. 
 13. Plan Controls. The Option is subject to all of the provisions of the Plan, which is hereby incorporated by reference, and is further subject to all the interpretations, amendments, rules and regulations
that may from time to time be promulgated and adopted by the Committee pursuant to the Plan. In the event of any conflict among the provisions of the Plan and this Award Notice, the provisions of the Plan will be controlling and determinative.

 14. Amendment. Except as otherwise provided by the Plan, G&W may only alter, amend or terminate the Option with your consent.

  

 5 

 15. Governing Law. This Option grant and Award Notice shall be governed by and construed in
accordance with the laws of the State of New York, except as superseded by applicable federal law, without giving effect to its conflicts of law provisions. 
 16. Notices. All notices and other communications to G&W required or permitted under this Award Notice shall be written, and shall be either delivered personally or sent by registered or certified
first-class mail, postage prepaid and return receipt requested, by telex or telecopier, or electronically, addressed to G&W’s office at 1200-C Scottsville Road, Suite 200, Rochester, New York 14624, Attention: Equity Plan Administrator.
Each such notice and other communication delivered personally shall be deemed to have been given when delivered. Each such notice and other communication delivered by mail shall be deemed to have been given when it is deposited in the United States
mail in the manner specified herein, and each such notice and other communication delivered by telex, telecopier or electronically shall be deemed to have been given when it is so transmitted and the appropriate answerback is received. 

17. Language. If you have received this Award Notice or any other document related to the Plan in a language other than English and if the
translated version bears a meaning that is different from that of the English version, the English version will control, to the extent permitted by law. 
 18. Data Privacy. You hereby explicitly and unambiguously consent to the collection, use and transfer, in electronic or other form, of your personal data as described in this document by and among,
as applicable, the Employer, and G&W and its Subsidiaries and affiliates for the exclusive purpose of implementing, administering and managing your participation in the Plan, to the extent permitted by law. 
 You understand that G&W and the Employer may hold certain personal information about you, including, but not limited to, your name, home address and
telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any shares of stock or directorships held in G&W, details of all options or any other entitlement to shares of stock
awarded, canceled, exercised, vested, unvested or outstanding in your favor, for the purpose of implementing, administering and managing the Plan (“Data”). You understand that Data may be transferred to any third parties assisting in
the implementation, administration and management of the Plan, that these recipients may be located in your country or elsewhere, and that the recipient’s country may have different data privacy laws and protections than your country. You
understand that you may request a list with the names and addresses of any potential recipients of the Data by contacting your local human resources representative. You authorize the recipients to receive, possess, use, retain and transfer the
Data, in electronic or other form, for the sole purpose of implementing, administering and managing your participation in the Plan, including any requisite transfer of such Data as may be required to a broker or other third party with whom you may
elect to deposit any shares of stock acquired upon exercise of the Option, to the extent permitted by law. You understand that Data will be held only as long as is necessary to implement, administer and manage your participation in the Plan.
You 

  

 6 

 
understand that you may, at any time, view Data, request additional information about the storage and processing of Data, require any necessary amendments to
Data or refuse or withdraw the consents herein, in any case without cost, by contacting in writing your local human resources representative. You understand, however, that refusing or withdrawing your consent may affect your ability to participate
in the Plan. For more information on the consequences of your refusal to consent or withdrawal of consent, you understand that you may contact your local human resources representative. 
 19. Electronic Delivery. G&W may, in its sole discretion, decide to deliver any documents related to the Option granted under the Plan (or
related to future options that may be granted under the Plan) by electronic means or to request your consent to participate in the Plan by electronic means. You hereby consent to receive such documents by electronic delivery and, if requested,
hereby agree to participate in the Plan through an on-line or electronic system established and maintained by G&W or another third party designated by G&W. 
 20. Severability. The provisions of this Award Notice are severable and if any one or more provisions are determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions shall
nevertheless be binding and enforceable. 
 [xx. Nature of Grant. In accepting the grant, you acknowledge that: 
 (a) the Plan is established voluntarily by G&W, it is discretionary in nature and it may be modified, amended, suspended or terminated by G&W at
any time, unless otherwise provided in the Plan and this Award Notice; 
 (b) the grant of the Option is voluntary and occasional and does
not create any contractual or other right to receive future grants of options, or benefits in lieu of options, even if options have been granted repeatedly in the past; 
 (c) all decisions with respect to future option grants, if any, will be at the sole discretion of G&W; 
 (d) your participation in the Plan shall not create a right to further employment with the Employer and shall not interfere with the ability of the Employer to terminate your employment relationship at any time with or without cause;

 (e) you are voluntarily participating in the Plan; 
 (f) the Option is an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to G&W or the Employer, and which is outside the scope of your employment contract, if
any; 
 (g) the Option is not part of normal or expected compensation or salary for any purposes, including, but not limited to, calculating
any severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments and in no event should be considered as compensation for, or relating in any way to, past
services for G&W or the Employer; 
  

 7 

 (h) in the event that you are not an employee of G&W, the Option grant will not be interpreted to
form an employment contract or relationship with G&W; and furthermore, the Option grant will not be interpreted to form an employment contract with the Employer or any Subsidiary or affiliate of G&W; 
 (i) the future value of the underlying shares of Common Stock is unknown and cannot be predicted with certainty; 
 (j) if the underlying shares of Common Stock do not increase in value, the Option will have no value; 
 (k) if you exercise your Option and obtain shares of Common Stock, the value of those shares of Common Stock acquired upon exercise may increase or
decrease in value, even below the exercise price; and 
 (l) in consideration of the grant of the Option, no claim or entitlement to
compensation or damages shall arise from termination of the Option or diminution in value of the Option or shares of Common Stock purchased through exercise of the Option resulting from termination of your employment by G&W or the Employer (for
any reason whatsoever and whether or not in breach of local labor laws) and you irrevocably release G&W and the Employer from any such claim that may arise; if, notwithstanding the foregoing, any such claim is found by a court of competent
jurisdiction to have arisen, then, by signing this Award Notice, you shall be deemed irrevocably to have waived your entitlement to pursue such claim.] [NOTE: this section is only applicable in Australia and the Netherlands] 
 [xy. Effect of Breach of Certain Covenants. 
 (a) In General. If you engage in the conduct described in subsection (c) of this Section [xy], then, unless the Committee determines otherwise: (i) you immediately forfeit, effective as of the date
you engage in such conduct, the unexercised portion of the Option; and (ii) you must pay to G&W the amount of any gain realized or payment received as a result of the exercise of the Option within the six-month period immediately preceding
the date you engage in such conduct. 
 (b) Set-Off. By accepting the Option, you consent to a deduction from any
amounts G&W or any Subsidiary owes you from time to time (including, but not limited to, amounts owed to you as wages or other compensation, fringe benefits, or vacation pay), to the extent of the amount that you owe G&W under subsection
(a) of this Section [xy]. G&W may elect to make any set-off in whole or in part. If G&W does not recover by means of a set-off the full amount that you owe G&W, you shall immediately pay the unpaid balance to G&W. 
  

 8 

 (c) Conduct. You hereby agree that you will not, without the written consent of
G&W, either during your employment by or service to G&W or any Subsidiary or thereafter, disclose to anyone or make use of any confidential information which you acquired during your employment or service relating to any of the business of
G&W or any Subsidiary, except as such disclosure or use may be required in connection with your work as an employee or consultant of G&W or any Subsidiary. During your employment by or service to G&W or any Subsidiary, and for a period
of six months after the termination of such employment or service, you will not, either as principal, agent, consultant, employee, stockholder or otherwise, engage in any work or other activity in direct competition with G&W or any Subsidiary.
(For purposes of this Section [xy], you shall not be deemed a stockholder of any company subject to the periodic and other reporting requirements of the Exchange Act, if your record and beneficial ownership of any such company amount to not more
than five percent of the outstanding capital stock of any such company.) The non-competition covenant of this Section xy applies separately in the United States and in other countries. Your breach of the covenant of this subsection (c) shall
result in the consequences described in this Section [xy].] [NOTE: this section is only applicable to some Grantees, including Executive Officers] 
 [xz. Effect of Change in Control. 
 (a) Upon the occurrence of a “Change in
Control” of G&W, the unvested portion of the Award shall immediately vest as of the date of the occurrence of such event. 
 (b) The term “Change in Control” shall be deemed to have occurred when: 
 (i) Any “person” as
defined in Section 3(a)(9) of the Exchange Act, and as used in Section 13(d) and 14(d) thereof, including a “group” as defined in Section 13(d) of the Exchange Act (but excluding G&W and any Subsidiary and any employee
benefit plan sponsored or maintained by G&W or any Subsidiary (including any trustee of such plan acting as trustee)), directly or indirectly, becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), of
securities of G&W representing 35% or more of the combined voting power of G&W’s then outstanding securities (other than indirectly as a result of G&W’s redemption of its securities); provided, however, that in no
event shall a Change in Control be deemed to have occurred under this Section [xz](b)(i) so long as (x) the combined voting power of shares beneficially owned by (A) G&W’s executive officers (as defined in Rule 16a-1(f) under the
Exchange Act) then in office (the “Executive Officer Shares”), (B) Mortimer B. Fuller and/or Sue Fuller and their lineal descendents (the “Founder Shares”), and (C) the shares beneficially owned by any other members of
a “group” that includes the Founder Shares and/or a majority of the Executive Officer shares, exceeds 35% of the combined voting power of G&W’s current outstanding securities and remains the person or group with beneficial
ownership of the largest percentage of combined voting power of G&W’s outstanding securities and (ii) G&W remains subject to the reporting requirements of the Exchange Act; or 
  

 9 

 (ii) The consummation of any merger or other business combination of G&W, a sale of
51% or more of G&W’s assets, liquidation or dissolution of G&W or a combination of the foregoing transactions (the “Transactions”) other than a Transaction immediately following which either (x) the shareholders of
G&W and any trustee or fiduciary of any G&W employee benefit plan immediately prior to the Transaction own at least 51% of the voting power, directly or indirectly, of (A) the surviving corporation in any such merger or other business
combination; (B) the purchaser of or successor to G&W’s assets; (C) both the surviving corporation and the purchaser in the event of any combination of Transactions; or (D) the parent company owning 100% of such surviving
corporation, purchaser or both the surviving corporation and the purchaser, as the case may be ((A), (B), (C) or (D), as applicable, the “Surviving Entity”) or (y) the Incumbent Directors, as defined below, shall continue to
serve as a majority of the board of directors of the Surviving Entity without an agreement or understanding that such Incumbent Directors will later surrender such majority; or 
 (iii) Within any twelve-month period, the persons who were directors immediately before the beginning of such period (the “Incumbent
Directors”) shall cease (for any reason other than death) to constitute at least a majority of the Board or the board of directors of any successor to G&W, including any Surviving Entity. For this purpose, any director who was not a
director at the beginning of such period shall be deemed to be an Incumbent Director if such director was elected to the Board by, or on the recommendation of, or with the approval of, at least two-thirds of the directors who then qualified as
Incumbent Directors (so long as such director was not nominated by a person who commenced or threatened to commence an election contest or proxy solicitation by or on behalf of a person (other than the Board) or who has entered into an agreement to
effect a Change in Control or expressed an intention to cause such a Change in Control).] [NOTE: this section is only applicable to some Grantees, including Executive Officers] 
  

 10 

 ACKNOWLEDGEMENT 
 The undersigned acknowledges receipt of, and understands and agrees to be bound by, this Award Notice and the Plan. The undersigned further acknowledges that this Award Notice and the Plan set forth the entire
understanding between him and G&W regarding the [Type] stock options granted by this Award Notice and that this Award Notice and the Plan supersede all prior oral and written agreements on that subject. 
 Dated: ________________________ 
  

	
	  
	[Name]
	
	Genesee & Wyoming Inc. By:
	
	  
	          Matthew C. Brush
	Chief Human Resource Officer

  

 11 

 [NOTE: only applicable in the Netherlands] 
 ADDENDUM TO NON-QUALIFIED OPTIONS AWARD NOTICE 
 THE PARTIES 
  

	(1)	GENESEE & WYOMING INC, a company incorporated under the laws of the State of Delaware, the United States, duly represented by Matthew C. Brush, hereafter referred to
as G&W 

  

	And	

  

	(2)	[Name], residing at [Address], hereafter referred to as the Beneficiary 

 The parties referred to under (1) and (2) above are hereafter together referred to as the Parties. 
 WHEREAS 
  

	(A)	The Beneficiary is managing director of Rotterdam Rail Feeding B.V. (“RRF”) and RRF and Beneficiary has entered into an employment contract with RRF on [Date];

  

	(B)	G&W has acquired the entire share capital of RRF on [Date]; 

  

	(C)	G&W and the Beneficiary have agreed on an option grant as described in the letter dated [Date]; 

  

	(D)	In connection with the letter referred to under (C) above, the Parties enter into an Award Notice (the “Award Notice”); and 

  

	(E)	For the purpose of compliance of the Award Notice with the provisions of Dutch law (if applicable), the terms and conditions of this Addendum shall apply in deviation of, or in
addition to certain terms and conditions of the Award Notice. 

 HAVE AGREED ON THE FOLLOWING 
  

	1.	DEFINITIONS 

 Except as provided otherwise in this
Addendum, the definitions of the Award Notice shall apply to this Addendum. 
  

	2.	DISABILITY 

 Clause 7 of the Award Notice shall, in
addition to the meaning provided in that Clause, also apply in the circumstance that the Beneficiary is permanently ill and that, as a result thereof, the employment contract between the Beneficiary and RRF is terminated, in compliance with Dutch
law. 
  

 12 

	3.	NON COMPETITION 

 Clause [xy](c) of the Award Notice
provides for a non-competition covenant to which the Beneficiary shall be bound for a period of six months following the termination of the Beneficiary’s employment contract with RRF. In deviation of Clause [xy](c) of the Award Notice, the
non-competition covenant is limited solely to the territory of Europe. [NOTE: this section 3 is only applicable to some Grantees; insert “3. RESERVED” if not applicable] 
  

	4.	DATA PRIVACY 

  

	4.1	In deviation of Clause 18 of the Award Notice, the following shall apply. The Parties acknowledge that all personal data which are necessary for the performance of the contract
provided in the Award Notice shall be collected, used and/or transferred to G&W. The personal data shall be processed for the exclusive purpose of implementing, administering and managing the Beneficiary’s participation in the Plan.
Furthermore, Parties acknowledge that RRF shall be the controller in the meaning of the Dutch Data Protection Act. To the extent necessary, the Beneficiary explicitly agrees with the processing of his personal data as referred to in this Clause 4 of
the Addendum, and specifically with the transfer of the Beneficiary’s personal data to G&W in the United States. 

  

	4.2	The personal data to be processed shall include: the Beneficiary’s name, home address, e-mail address, salary, job title, any shares of stock or directorships held in G&W,
details of all options or any other entitlement to shares of stock awarded, cancelled, exercised, vested, unvested or outstanding in favour of the Beneficiary, necessary for the performance of the Award Notice. Upon the vesting of the options,
additional information may be required regarding bank or brokerage account(s) held by the Beneficiary. In case of death of the Beneficiary, the personal data mentioned in this Clause 4.2 shall also be required from the Beneficiary’s inheritors.

  

	5.	AWARD NOTICE 

 Unless described otherwise in this
Addendum, the terms and conditions of the Award Notice shall be fully valid and binding between the Parties. 
  

	6.	GOVERNING LAW 

  

	6.1	This Addendum shall be governed by the laws of the Netherlands. 

  

	6.2	The competent court of Rotterdam has exclusive jurisdiction to settle any dispute arising out of or in connection with this Addendum. 

  

 13 

 SIGNATORIES 
 Thus
agreed upon and executed in duplicate in ________________________ on ________________. 
  

	
	  
	[Name]
	
	Genesee & Wyoming Inc. By:
	
	  
	          Matthew C. Brush
	Chief Human Resource Officer

  

 14

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