Document:

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                                                                   Exhibit 10.12

                           CHANGE OF CONTROL AGREEMENT

          This Agreement is entered into between Wisconsin Central
Transportation Corporation, a Delaware corporation (the "Company"), and Robert
H. Wheeler ("Executive"), as of the 25th day of January, 2001.

                                    RECITALS

WHEREAS, Executive has been serving as Chairman of the Board of Directors of the
Company and has served as a director of the Company, as well as a director of
subsidiaries that are directly or indirectly wholly owned by the Company
("Subsidiaries").

WHEREAS, the Company is in the process of negotiating a possible merger of the
Company with a wholly-owned subsidiary of Canadian National Railway Company
("Merger").

WHEREAS, the Company desires to have Executive continue his service with the
Company during the negotiation process through the date of consummation of the
Merger or any earlier date on which a Change in Control (defined below) occurs
("Closing Date").

WHEREAS, the Company does not currently propose to have Executive remain as an
officer or director of the company resulting from the proposed merger or any
earlier Change in Control.

WHEREAS,  for purposes of this  Agreement the Term "Change in Control" means the
occurrence of one of the  following  events either before the Merger is approved
by the  stockholders of the Company or after the Merger  agreement is terminated
in accordance with its terms:

          (iv) The acquisition by an entity, person or group (including all
               affiliates or associates of such entity, person or group, but
               excluding any person who on the date of this Agreement was the
               beneficial owner of capital stock of the Company entitled to
               exercise 30% or more of the Voting Power (as defined below)) of
               beneficial ownership, as that term is defined in Rule 13d-3 under
               the Securities Exchange Act of 1934, of capital stock of the
               Company, if after such acquisition such entity, person or group
               is entitled to exercise more than 30% of the outstanding voting
               power of all capital stock of the Company entitled to vote in
               elections of directors ("Voting Power");

          (v)  The effective time of (1) a merger or consolidation of the
               Company with one or more other corporations as a result of which
               the holders of the outstanding Voting Power of the Company
               immediately prior to such merger or consolidation (other than the
               surviving or resulting corporation or any affiliate or associate
               thereof) hold less than 50% of the Voting Power of the surviving
               or resulting corporation, or (2) a transfer of 30% of the Voting
               Power, or a substantial portion of the property (at least 50% of

                               Ex. 10.12 - Page 1

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               book value), of the Company other than to an entity of which the
               Company owns at least 50% of the Voting Power; or

          (vi) During any 24-month period, individuals who at the beginning of
               such period constituted the Board of Directors of the Company
               (together with any new directors whose election by the Board of
               Directors or nomination for election by the Company's
               stockholders was approved by a vote of at least a majority of the
               directors who either were directors at the beginning of such
               period or whose election or nomination for election was
               previously so approved) cease for any reason to constitute a
               majority of the Company's Board of Directors.

Notwithstanding the foregoing, a Change in Control shall not be deemed to take
place by virtue of any transaction in which Executive is a participant in a
group effecting an acquisition of the Company if, after such acquisition,
Executive holds an equity interest in the entity that has acquired the Company.

                                    AGREEMENT

Now, therefore, for good and valuable consideration, the receipt of which is
hereby acknowledged by both parties, the Company and Executive agree as follows:

I.   CONTINGENT RIGHTS AND OBLIGATIONS

If the Executive has not resigned prior to the Closing Date, the following
rights and obligations shall exist:

     3.   RESIGNATION. Executive shall resign from all positions with the
          Company and its Subsidiaries effective the Closing Date.

     4.   PAYMENT. In consideration of the agreements and subject to Executive's
          performance of the undertakings set forth in this Agreement, the
          Company, in full and final settlement of all of Executive's stated and
          unstated claims, including any claim for severance or otherwise but
          excluding any claims relating to deferred compensation, stock options
          or phantom stock, agrees to make the following payments to Executive:

          (d)  The Company shall pay Executive the amount of earned and
               previously unpaid compensation for the period ending on the
               Closing Date in accordance with its customary practice.

          (e)  On the Closing Date, the Company shall make a $600,000 cash
               payment to Executive.

          (f)  If federal excise taxes are applicable to the payment described
               in paragraph 2(b), on the Closing Date the Company shall make an
               additional payment to Executive equal to the amount required for
               Executive to have received and retained $600,000 after

                               Ex. 10.12 - Page 2

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               payment of (i) the federal excise taxes applicable to all
               payments under this paragraph 2 (including the payments under
               this paragraph 2(c)) and (ii) the federal and state income taxes
               applicable to any additional payment made pursuant to this
               paragraph 2(c), but before payment of the federal and state
               income taxes applicable to the $600,000 payment.

11.  EXPENSE REIMBURSEMENT. The Company will reimburse Executive for business
expenses he incurred on its behalf prior to the Closing Date, subject to
compliance with the Company's existing expense reimbursement policies; provided
that any such request for reimbursement shall be made prior to the date 30 days
following the Closing Date.

12.  RESERVED.

13.  RESERVED.

14.   RESERVED.

15.  NON-COMPETITION. For the period beginning on the Closing Date and ending on
the first anniversary of the Closing Date, Executive agrees that he will not
(other than on behalf of one of the Class 1 railroads in the United States or
Canada and except as provided below) directly or indirectly engage in, assist,
perform services for, establish, or have any equity interest (other than
ownership of 1% or less of the outstanding stock of any corporation listed on
the New York or American Stock Exchanges or included in the NASDAQ National
Market System) in, whether as an employee, officer, director, agent, security
holder, creditor, consultant or otherwise, any entity or person which conducts
rail operations in the State of Wisconsin, the Upper Peninsula of Michigan, the
Chicago Switching District, the Minneapolis-St. Paul Switching District, the
Province of Ontario, the United Kingdom, New Zealand, Australia or Jordan;
provided, however, Executive is not prohibited from performing legal services,
directly or indirectly, for any such person or entity which conducts such rail
operations. Of the cash payments made pursuant to this Agreement, $300,000
($100,000 per year) is allocated as payment in consideration of Executive's
agreement not to compete as set forth in this paragraph.

16.  CONFIDENTIALITY. Executive agrees that he will not, without the prior
written consent of the Company, directly or indirectly disclose to any
individual, corporation or other entity (other than the Company, its
Subsidiaries or Affiliates or their respective officers, directors or employees
entitled to such information) or use for his own or such another's benefit, any
information, whether or not reduced to written or other tangible form, which (a)
is not generally known to the public or in the industry; (b) has been treated by
the Company or any of its Subsidiaries or Affiliates as confidential or
proprietary; and (c) is of competitive advantage to the Company or any of its
Subsidiaries or Affiliates (such information being referred to in this paragraph
as "Confidential Information"). Confidential Information which becomes generally
known to the public without violation of this Agreement shall cease to be
subject to the restrictions of this paragraph.

17.  COVENANTS GENERALLY. The parties agree and acknowledge that the duration,
scope and geographic areas applicable to the covenants set forth in paragraphs 7
and 8 of this Agreement are fair, reasonable and necessary and that adequate
compensation has been received by Executive for these obligations. If, however,
for any reason any court determines that the restrictions in this

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Agreement are not reasonable, that the consideration to Executive therefor is
inadequate or that Executive has been prevented from earning a livelihood, such
restrictions shall be deemed without further action by the parties to be
interpreted, modified or rewritten to include as much of the duration, scope and
geographic area of such restrictions as are valid and enforceable.

18.  NON-DISPARAGEMENT.

          c.   Executive agrees that he shall not make any disparaging
               statements about the Company, its Subsidiaries or Affiliates
               (including any successor thereto) or the directors, officers or
               employees of any of them; provided that the provisions of this
               clause shall not apply to truthful testimony as a witness,
               compliance with other legal obligations, or truthful assertion of
               or defense against any claim of breach of this Agreement, or to
               his truthful statements or disclosures to officers or directors
               of the Company, and shall not require Executive to make false
               statements or disclosures; and provided further that, at any
               period after nine months following the Closing Date, he may, in
               good faith, make fair and truthful comment about the Company, its
               Subsidiaries or Affiliates or the directors, officers or
               employees or any of them with respect to events arising or
               circumstances existing after the Closing Date.

          d.   The Company agrees that neither the directors nor the officers of
               the Company or its Subsidiaries nor any spokesperson for any of
               them shall make any disparaging statements about Executive;
               provided that the provisions of this clause shall not apply to
               truthful testimony as a witness, compliance with other legal
               obligations, truthful assertion of or defense against any claim
               of breach of this Agreement or truthful statements or disclosures
               to Executive, and shall not require false statements or
               disclosures to be made; and provided further that the Company
               may, in good faith, make fair and truthful comment in response to
               any statements that may be made by Executive pursuant (or
               purportedly pursuant) to the last proviso of paragraph 10(a) of
               this Agreement.

23.  RELEASE. Except for a claim based upon a breach of this Agreement or a
claim based on the claims specifically excluded in paragraph 2 of this
Agreement, effective as of the Closing Date Executive shall release the
Released Parties (as defined below) from any and all claims, suits, demands,
actions or causes of action of any kind or nature whatsoever, whether the
underlying facts are known or unknown, which Executive has or now claims, or
might have or claim, pertaining to or arising out of Executive's employment
by the Company or his separation therefrom or under any local, state or
federal common law, statute, regulation or ordinance, including without
limitation those claims dealing with employment discrimination, including
without limitation, Title VII of the Civil Rights Act of 1964, as amended, 42
U.S.C. Section 2000e ET SEQ., 42 U.S.C. Section 1981, Americans with
Disabilities Act, the Illinois Human Rights Act or claims for breach of
contract, for misrepresentation, for defamation, for wrongful discharge under
the common law of any state, for infliction of emotional distress or for any
other tort under the common law of any state. This release shall run to the
Company and each of its Subsidiaries and Affiliates, and all predecessors,
successors and assigns thereof and each of their members, trustees,
shareholders, partners, principals, members, directors, officers, trustees,
employees, agents and attorneys, past or present, and all predecessors,
successors, heirs and assigns thereof (collectively, "Released Parties").
This release shall also

                               Ex. 10.12 - Page 4

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be binding upon Executive and his heirs and assigns. In exchange for this
general release and waiver hereunder, as of the Closing Date Executive shall
acknowledge that he has received separate consideration beyond that which he is
otherwise entitled to under the Company's policy or applicable law.

24.  COVENANT NOT TO SUE. To the maximum extent permitted by law, Executive
covenants not to sue or to institute or cause to be instituted any action in any
federal, state or local agency or court against the Released Parties regarding
the matters covered by the release contained in paragraph 11 above (except to
enforce the terms of this Agreement). If Executive breaches the terms of the
release and covenant not to sue, then the Released Parties shall be entitled to
recover their costs, including reasonable attorneys' fees incurred in defending
such action.

25.  SPECIFIC ENFORCEMENT. Executive agrees that any breach by him of paragraphs
7 through 11 of this Agreement will cause the Company great injury which will be
difficult, if not impossible, to measure and that such injury will be immediate
and irreparable for which the Company will have no adequate remedy at law.
Consequently, Executive agrees that any material breach by Executive of the
foregoing paragraphs 7 through 11 of this Agreement shall entitle the Company to
injunctive relief, and shall entitle the Company to cancel its obligations under
this Agreement, provided that if a material breach occurs, the Company shall
notify Executive of such breach and Executive may, if possible, attempt to cure
such material breach. Executive agrees that, in the event of a breach by
Executive of the foregoing provisions of this Agreement the Company would be
more harmed by the denial of an injunction or other equitable relief than
Executive would be harmed by the issuance of an injunction or other equitable
relief and that the public interest would be furthered by the issuance of an
injunction or other equitable relief to prevent further or additional breach of
the foregoing provisions of this Agreement.

26.  THIRD PARTY LEGAL PROCEEDINGS. Executive agrees to cooperate, at reasonable
times and on reasonable notice, with the Company in the truthful and honest
prosecution or defense of any claim in which the Released Parties may have an
interest (subject to reasonable limitations concerning time and place), which
may include without limitation making himself available to participate in any
proceeding involving any of the Released Parties, allowing himself to be
interviewed by representatives of the Company, appearing for depositions and
testimony without requiring a subpoena, and producing and providing any
documents or names of other persons with relevant information.

27.  NO MITIGATION. Executive shall have no obligation to seek or accept
employment, and any compensation earned or provided to Executive from any person
or entity other than the Company and its Subsidiaries for the performance of
such employment or other services shall not reduce or otherwise affect the
amount due to Executive from the Company in accordance with this Agreement, so
long as such employment or service does not violate Executive's obligations
under paragraphs 7 and 8 of this Agreement.

28.  INDEMNIFICATION; INSURANCE. Executive shall continue to be eligible for
indemnification from the Company with respect to acts or omissions on or prior
to the Closing Date pursuant to the indemnification provisions of the Company's
charter and/or bylaws to the same extent as other current or former directors
and officers of the Company. Executive shall be entitled to

                               Ex. 10.12 - Page 5

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coverage with respect to acts or omissions on or prior to the Closing Date under
the directors and officers liability insurance coverage maintained by the
Company (at the Closing Date and as may be in effect from time to time
thereafter) to the same extent as other current or former officers and directors
of the Company.

29.  COMPANY PROPERTY. After the Closing Date, Executive shall return any
material personal property to the Company or its Subsidiary or Affiliate, as the
case may be, except that Executive may retain the two Company fax machines that
he has been using.

II.  MISCELLANEOUS.

30.  INTEREST. If any payment to be made under this Agreement by the Company is
not paid within 30 days after it has become due, the Company will pay interest
on such unpaid amount at the Company's then cost of borrowings.

31.  MODIFICATION. No modification of this Agreement shall be valid unless
signed by the party against whom such modification is sought to be enforced.

32.  LEGAL COUNSEL. Executive acknowledges that he has carefully read and fully
understands the terms and provisions of this Agreement and all of his rights and
obligations thereunder, has had an opportunity to be represented by legal
counsel of his choosing prior to executing this Agreement which contains a
general release and waiver and that his execution of this Agreement is
voluntary.

33.  NO ADMISSION. Executive agrees that neither this Agreement nor performance
hereunder constitutes an admission by the Company of any violation of any
federal, state or local law, regulation, common law, of any breach of any
contract or any other wrongdoing of any type.

34.  NOTICES. Notices and all other communications provided for in this
Agreement shall be in writing and shall be delivered personally or sent by
registered or certified mail, return receipt requested, postage prepaid, or sent
by facsimile or prepaid overnight courier to the parties at the addresses set
forth below (or such other addresses as shall be specified by the parties by
like notice). Such notices, demands, claims and other communications shall be
deemed given:

a.   in the case of delivery by overnight service with guaranteed next day
delivery, the next day or the day designated for delivery;

b.   in the case of certified or registered U.S. mail, five days after deposit
in the U.S. mail; or

c.   in the case of facsimile, the date upon which the transmitting party
received confirmation of receipt by facsimile, telephone or otherwise;

                               Ex. 10.12 - Page 6

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     provided, however, that in no event shall any such communications be deemed
     to be given later than the date they are actually received. Communications
     that are to be delivered by the U.S. mail or by overnight service are to be
     delivered to the addresses set forth below:

     If to the Company:

          Wisconsin Central Transportation Corporation
          One O'Hare Centre, Suite 9000
          6250 North River Road
          Rosemont, Illinois  60018
          Phone:            847-318-4602
          Facsimile:        847-318-4628

     If to Executive:

          Robert H. Wheeler
          1328 East Gartner Road
          Naperville, Illinois  60540
          Phone:            630-416-1230
          Facsimile:        630-416-1273

     Each party, by written notice furnished to the other party, may modify the
     applicable delivery address, except that notice of change of address shall
     be effective only upon receipt.

27.  ENTIRE AGREEMENT. This instrument constitutes the entire agreement between
the parties.

28.  SEVERABILITY. If any provision, section, subsection or other portion of
this Agreement shall be determined by any court of competent jurisdiction to be
invalid, illegal or unenforceable in whole or in part, and such determination
shall become final, such provision or portion shall be deemed to be severed or
limited, but only to the extent required to render the remaining provisions and
portions of this Agreement enforceable. This Agreement as thus amended shall be
enforced so as to give effect of the intention of the parties insofar as that is
possible. In addition, the parties hereby expressly empower a court of competent
jurisdiction to modify any term or provision of this Agreement to the extent
necessary to comply with existing law and to enforce this Agreement as modified.

29.  GOVERNING LAW. This Agreement shall be construed in accordance with the
laws of the State of Illinois.

30.  COUNTERPARTS. This Agreement may be signed in multiple counterparts, each
of which shall be deemed to be an original for all purposes.

                               Ex. 10.12 - Page 7

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IN WITNESS WHEREOF, the parties have executed this Agreement on the date first
above written.

                                       WISCONSIN CENTRAL
                                        TRANSPORTATION CORPORATION

                                       By: /s/ Ronald G. Russ
                                          --------------------------------------
                                       Printed Name: Ronald G. Russ
                                       Its: Executive Vice President and Chief
                                            Financial Officer

                                       EXECUTIVE

                                       /s/ Robert H. WHeeler
                                       -----------------------------------------
                                       Name: Robert H. Wheeler

                               Ex. 10.12 - Page 8<PAGE>

                                                                   Exhibit 10.13

                          EMPLOYMENT SECURITY AGREEMENT

          This Employment Security Agreement (the "Agreement") is entered into
as of this 9th day of November, 2000 [SEE SCHEDULE A - ITEM I] (the "Agreement
Date"), by and between Wisconsin Central Transportation Corporation, a Delaware
corporation ("Employer"), and Marty J. Mickey [SEE SCHEDULE A - ITEM II]
("Executive").

                              W I T N E S S E T H:

          Whereas, Executive is currently employed by Employer as its Assistant
Vice President, Treasurer & Assistant Secretary [SEE SCHEDULE A - ITEM III].

          Whereas, Executive and Employer desire to enter into the Agreement in
order to provide security to Executive with respect to his employment;

          Now, therefore, in consideration of the mutual covenants and promises
contained herein, and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties agree as follows:

          1.   DEFINITIONS. For purposes of the Agreement:

          (a)  "Affiliate" or "Associate" shall have the meaning set forth in
Rule 12b-2 under the Securities Exchange Act of 1934.

          (b)  "Base Salary" shall mean the average of Executive's annual base
salary at the rates in effect during the 24 months prior to an event that
constitutes a termination of employment under circumstances set forth in
subsection 2(a); provided that such average rate shall in no event be less than
the highest annual rate in effect for Executive at any time during the 12-month
period preceding the applicable Change in Control.

          (c)  "Beneficiary" shall mean the person or entity designated by
Executive, by written instrument delivered to Employer, to receive the benefits
payable under the Agreement in the event of his death. If Executive fails to
designate a Beneficiary, or if no Beneficiary survives Executive, such death
benefits shall be paid:

               (i)   to his surviving spouse;

               (ii)  if there is no surviving spouse, to his living descendants
PER STIRPES; or

               (iii) if there is neither a surviving spouse nor descendants, to
his duly appointed and qualified executor or personal representative.

                               Ex. 10.13 - Page 1

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          (d)  "Bonus" shall mean the average of the actual bonuses earned by
Executive for each of the 2 full fiscal years of Employer preceding an event
that constitutes a termination of employment under circumstances set forth in
subsection 2(a); provided that such average bonus shall in no event be less than
the highest actual bonus earned by Executive for any full fiscal year of
Employer ending during the 12-month period prior to the applicable Change in
Control, or if no such full fiscal year occurs, the actual bonus earned for any
partial fiscal year ending during such period divided by a fraction, the
numerator of which is the number of full calendar months in such partial year
and the denominator of which is twelve.

          (e)  A "Change in Control" shall be deemed to take place on the
occurrence of any of the following events on or after the Agreement Date:

               (i)   The acquisition by an entity, person or group (including
          all Affiliates or Associates of such entity, person or group, but
          excluding any person who on the Agreement Date was the beneficial
          owner of capital stock of Employer entitled to exercise 30% or more of
          the Voting Power (as defined below)) of beneficial ownership, as that
          term is defined in Rule 13d-3 under the Securities Exchange Act of
          1934, of capital stock of Employer, if after such acquisition such
          entity, person or group is entitled to exercise more than 30% of the
          outstanding voting power of all capital stock of Employer entitled to
          vote in elections of directors ("Voting Power");

               (ii)  The effective time of (1) a merger or consolidation of
          Employer with one or more other corporations as a result of which the
          holders of the outstanding Voting Power of Employer immediately prior
          to such merger or consolidation (other than the surviving or resulting
          corporation or any Affiliate or Associate thereof) hold less than 50%
          of the Voting Power of the surviving or resulting corporation, or (2)
          a transfer of 30% of the Voting Power, or a Substantial Portion of the
          Property, of Employer other than to an entity of which Employer owns
          at least 50% of the Voting Power; or

               (iii) During any 24-month period, individuals who at the
          beginning of such period constituted the Board of Directors of
          Employer (together with any new directors whose election by the Board
          of Directors or nomination for election by Employer's stockholders was
          approved by a vote of at least a majority of the directors who either
          were directors at the beginning of such period or whose election or
          nomination for election was previously so approved) cease for any
          reason to constitute a majority of Employer's Board of Directors.

Notwithstanding the foregoing, a Change in Control shall not be deemed to take
place by virtue of any transaction in which Executive is a participant in a
group effecting an acquisition of Employer if, after such acquisition, Executive
holds an equity interest in the entity that has acquired Employer.

          (f)  "Good Cause" shall be deemed to exist if, and only if:

                               Ex. 10.13 - Page 2

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               (i)   Executive engages in acts or omissions constituting
          dishonesty, intentional breach of fiduciary obligation, intentional
          wrongdoing, or malfeasance, in each case that results in substantial
          harm to the business or property of Employer or any Affiliate or
          Associate; or

               (ii)  Executive is convicted of a criminal violation involving
          fraud or dishonesty.

          (g)  "Good Reason" shall exist if:

               (i)   There is a significant reduction in the nature or the scope
          of Executive's authority, or a significant adverse change in his
          overall working environment;

               (ii)  Executive is assigned duties materially inconsistent with
          his present duties, responsibilities and status;

               (iii) There is a significant reduction in Executive's monthly
          rate of base salary or bonus;

               (iv) Employer or an Affiliate or Associate changes by 50 miles
          or more the principal location in which Executive is required to
          perform services;

               (v)  There is a significant increase in the level of travel for
          business purposes required of Executive by Employer or an Affiliate
          or Associate; or

               (vi) Executive in good faith determines that as the result of
          a Change in Control he is unable to carry out his duties and
          responsibilities for Employer or an Affiliate or Associate in a
          manner consistent with the practices, standards or values of Employer
          or an Affiliate or Associate immediately prior to the Change in
          Control.

          (h)  "Incentive Plan" shall mean any incentive, bonus, deferred
compensation or similar plan or arrangement currently or hereafter made
available by Employer or an Affiliate or Associate in which Executive is
eligible to participate.

          (i)  "Retirement Plan" shall mean any qualified or supplemental
employee pension benefit plan, as defined in Section 3(2) of the Employee
Retirement Income Security Act of 1974, as amended ("ERISA"), currently or
hereinafter made available by Employer or an Affiliate or Associate in which
Executive is eligible to participate.

          (j)  "Severance Period" shall mean the period beginning on the date
Executive's employment with Employer and all Affiliates and Associates
terminates under circumstances described in subsection 2(a) and ending on the
date 24 months thereafter.

                               Ex. 10.13 - Page 3

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          (k)  "Substantial Portion of the Property of Employer" shall mean 50%
of the aggregate book value of the assets of Employer, its Affiliates and
Associates as set forth on the most recent balance sheet of Employer, prepared
on a consolidated basis, audited by its regularly engaged, independent,
certified public accountants.

          (l)  "Term" shall mean the period beginning on the date hereof and
terminating on the date 24 months after the date hereof, provided that for each
day from and after the date hereof the Term will automatically be extended for
an additional day, unless either Employer or Executive has given written notice
to the other party of its or his election to cease such automatic extension, in
which case the Term shall be the 24-month period beginning on the date such
notice is received by such other party.

          (m)  "Welfare Plan" shall mean any health plan, dental plan,
disability plan, survivor income plan or life insurance plan, as defined in
Section 3(1) of ERISA, currently or hereafter made available by Employer or an
Affiliate or Associate in which Executive is eligible to participate.

          2.   BENEFITS UPON TERMINATION OF EMPLOYMENT. (a) The following
provisions will apply if a Change in Control occurs during the Term, and if at
any time during the 24 months after such Change in Control occurs (whether
during or after the expiration of the Term), (i) the employment of Executive
with Employer and, if applicable, all Affiliates and Associates is terminated by
Employer or such Affiliates and Associates for any reason other than Good Cause,
or (ii) Executive terminates his employment with Employer and, if applicable,
all Affiliates and Associates for Good Reason:

               (1)  Employer shall pay Executive or his Beneficiary an amount
          equal to all base salary, bonus and reimbursement for fringe benefits
          due to Executive and unpaid at the date of termination.

               (2)  Employer shall pay Executive or his Beneficiary an amount
          equal to the sum of (A) his Base Salary plus (B) his Bonus, all
          multiplied by two. Such amount shall be paid to Executive or his
          Beneficiary in a lump sum within 30 days after his date of termination
          of employment.

               (3)  Employer shall pay Executive or his Beneficiary an amount
          equal to the pro rata portion of Executive's target annual incentive
          bonus compensation, under the applicable Incentive Plan, for the
          fiscal year of Employer in which the date of termination of employment
          occurs that is applicable to the period commencing on the first day of
          such fiscal year and ending on the date of termination. Such amount
          shall be paid to Executive or his Beneficiary in a lump sum within 30
          days after his date of termination of employment.

          (4)  Executive or his Beneficiary, or any other person entitled to
          receive benefits with respect to Executive under any Incentive Plan,
          Retirement Plan, Welfare Plan, or any other plan or program maintained
          by Employer or an Affiliate or Associate in which Executive
          participates on the date of termination of

                               Ex. 10.13 - Page 4

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          employment, shall receive any and all benefits accrued under such Plan
          or other plan or program, to the date of termination of employment,
          the amount, form and time of payment of such benefits to be determined
          by the terms of such Incentive Plan, Retirement Plan, Welfare Plan or
          other plan or program. Payment shall be made at a date selected by
          Executive, if permitted under any such Plan or other plan or program,
          or if no such election is permitted, at the earliest date permitted
          under any such Plan or other plan or program.

               (5)  If upon the date of termination of Executive's employment,
          Executive holds any options with respect to stock of Employer, all
          such options will immediately become exercisable upon such date and
          will be exercisable for 365 days thereafter. Any restrictions on stock
          of Employer owned by Executive on the date of termination of his
          employment will lapse on such date. To the extent such acceleration or
          extension of exercise of such options, or such lapse of restrictions,
          is not permissible under the terms of any plan pursuant to which the
          options or restricted stock were granted, Employer will pay to
          Executive or his Beneficiary (A) an amount equal to the excess, if
          any, of the aggregate fair market value of all stock of Employer
          subject to such options, determined on the date of termination of
          employment, over the aggregate exercise price of such options, and
          Executive or his Beneficiary will surrender all such options
          unexercised, and (B) the aggregate fair market value on the date of
          termination of employment of all such restricted stock and Executive
          or his Beneficiary shall transfer such stock to Employer. Payments
          pursuant to the preceding sentence will be paid in cash to Executive
          or his Beneficiary in a lump sum within 30 days after his date of
          termination of employment.

               (6)  During the Severance Period, Executive and his spouse, and
          other dependents, will continue to be covered by all Welfare Plans in
          which he and his spouse, and other dependents, were participating
          immediately prior to the date of his termination of employment as if
          he continued to be an employee of Employer or an Affiliate or
          Associate and Employer will continue to pay the costs of coverage of
          Executive and his spouse, and other dependents, under such Welfare
          Plans on the same basis as is applicable to active employees covered
          thereunder; provided that, if participation in any one or more of such
          Welfare Plans is not possible under the terms thereof, Employer will
          provide substantially identical benefits. Coverage under any such
          Welfare Plan will cease if and when Executive obtains employment with
          another employer during the Severance Period, and becomes eligible for
          coverage under any substantially similar Welfare Plan provided by his
          new employer.

               Executive's right to continuation of coverage under the Welfare
          Plans providing health and medical insurance coverage, pursuant to
          Section 4980B of the Internal Revenue Code of 1986, as amended (the
          "Code") (or any successor section), and Sections 601-609 of ERISA (or
          any successor sections) shall commence on the date of termination of
          employment pursuant to subsection 2(a).

                               Ex. 10.13 - Page 5

<PAGE>

               (7)  During the Severance Period, Executive shall not be entitled
          to reimbursement for fringe benefits, including without limitation,
          dues and expenses related to club memberships, automobile expenses,
          expenses for professional services and other similar perquisites.

          (b)  If the employment of Executive with Employer and all Affiliates
and Associates is terminated by Employer, such Affiliate or Associate, or
Executive other than under circumstances set forth in subsection 2(a),
Executive's compensation shall be paid through the date of his termination, and
Employer shall have no further obligation to Executive or any other person under
the Agreement. Such termination shall have no effect upon Executive's other
rights, including but not limited to rights under any Incentive Plan, Retirement
Plan, Welfare Plan, or other employee plan or program.

          (c)  Notwithstanding anything herein to the contrary, in the event
Employer or any Associate or Affiliate shall terminate the employment of
Executive for Good Cause hereunder, Employer or such Associate or Affiliate
shall give Executive at least thirty (30) days prior written notice specifying
in detail the reason or reasons for Executive's termination. Notwithstanding
anything herein to the contrary, in the event Executive shall terminate
employment with Employer or any Associate or Affiliate for Good Reason
hereunder, Executive shall give Employer or such Associate or Affiliate at least
thirty (30) days prior written notice specifying in detail the reason or reasons
for Executive's termination.

          3.   LIMITATION ON PAYMENTS. In the event that Executive would, except
for this Section 3, be subject to a tax pursuant to Section 4999 of the Internal
Revenue Code of 1986, as amended (the "Code"), or any successor provision that
may be in effect, as a result of "parachute payments" (as that term is defined
in Section 280G(b)(2)(A) of the Code) made pursuant to the Agreement, or a
deduction would not be allowed to Employer for all or any part of such payments,
by reason of Section 280G(a) of the Code, or any successor provision that may be
in effect, unless Executive gives prior written notice specifying a different
order to Employer to effectuate the limitations required herein, Employer shall
reduce, eliminate, or postpone such payments in such amounts, and in such order
as it shall determine, as are required to reduce the aggregate "present value"
(as that term is defined in Section 280G(d)(4) of the Code) of such payments to
one dollar less than an amount equal to three times Executive's "base amount,"
(as that term is defined in Sections 280G(b)(3)(A) and 280G(d)(1) and (2) of the
Code) to the end that Executive is not subject to tax pursuant to such Section
4999 and no deduction is disallowed by reason of such Section 280G(a).

          4.   SETOFF. No payments or benefits payable to or with respect to
Executive pursuant to the Agreement shall be reduced by any amount Executive or
his spouse or Beneficiary may earn or receive from employment with another
employer or from any other source, except as expressly provided in subsection
2(a)(5).

                               Ex. 10.13 - Page 6

<PAGE>

          5.   DEATH. If Executive's employment with Employer and all Affiliates
and Associates terminates under circumstances described in Section 2, other than
death, then upon Executive's subsequent death, all unpaid amounts payable to
Executive under subsections 2(a)(1), (2), (3) or (4) or 2(b), if any, shall be
paid to his Beneficiary, and if subsection 2(a) applies, his spouse and other
dependents shall continue to be covered under all applicable Welfare Plans
during the remainder of the Severance Period, if any, pursuant to subsection
2(a)(5).

          6.   NO SOLICITATION OF REPRESENTATIVES AND EMPLOYEES. During the
Severance Period, without Employer's prior written consent, Executive shall not
solicit to employ or solicit to engage as a consultant any person who is then an
employee of Employer or any Affiliate or Associate (for this purpose, Tranz Rail
Holdings Limited, English Welsh & Scottish Railway Holdings Limited and
Australian Transport Network Limited, and their respective subsidiaries).

          7.   CONFIDENTIALITY. Executive agrees that he will not, without the
prior written consent of Employer, during the period after the date of the
Agreement, directly or indirectly disclose to any individual, corporation or
other entity (other than Employer or its Affiliates or Associates, or their
respective officers, directors or employees entitled to such information) or use
for his own or such another's benefit, any information, whether or not reduced
to written or other tangible form, which (a) is not generally known to the
public or in the industry; (b) has been treated by Employer or any of its
Affiliates or Associates as confidential or proprietary; and (c) is of
competitive advantage to Employer or any of its Affiliates or Associates (such
information being referred to in this section as "Confidential Information").
Confidential Information which becomes generally known to the public without
violation of the Agreement shall cease to be subject to the restrictions of this
paragraph. This section shall not be applicable if and to the extent Executive
is required to testify in a legislative, judicial or regulatory proceeding
pursuant to an order of Congress, any state or local legislature, a judge, or an
administrative law judge, or is otherwise required by law to disclose such
Confidential Information, or to the extent Executive provides information on
Employer's behalf either to rating agencies, investment bankers, creditors or
other similar third parties, or to accountants, counsel or agents or
representatives of Employer.

          8.   NON-COMPETITION. During the Severance Period, Executive agrees
that he will not (other than on behalf of one of the Class 1 railroads in the
United States or Canada) directly or indirectly engage in, assist, perform
services for, establish, or have any equity interest (other than ownership of 1%
or less of the outstanding stock of any corporation listed on the New York or
American Stock Exchanges or included in the NASDAQ National Market System) in,
whether as an employee, officer, director, agent, security holder, creditor,
consultant or otherwise, any entity or person which conducts rail operations in
the State of Wisconsin, the Upper Peninsula of Michigan, the Chicago Switching
District, the Minneapolis-St. Paul Switching District, the Province of Ontario,
the United Kingdom, New Zealand, Australia, or Jordan.

                               Ex. 10.13 - Page 7

<PAGE>

          9.   FORFEITURE. If Executive shall at any time violate any obligation
of his under Sections 6, 7 or 8 in a manner that results in material damage to
Employer, any Affiliate or Associate, or its business, he shall immediately
forfeit his right to any benefits not yet paid or due to be paid or provided
under the Agreement, and Employer shall thereafter have no further obligation
hereunder to Executive or his spouse, Beneficiary or any other person.

          10.  SPECIFIC ENFORCEMENT. Executive agrees that any material breach
by him of Sections 6 through 8 of the Agreement will cause Employer great injury
which will be difficult, if not impossible, to measure, and that such injury
will be immediate and irreparable for which Employer will have no adequate
remedy at law. Consequently, Executive agrees that any material breach by
Executive of the foregoing Sections 6 through 8 of the Agreement shall entitle
Employer to injunctive relief, and, as set forth in Section 9, shall entitle
Employer to cancel its obligations, pursuant to Section 9, under the Agreement,
provided that if a material breach occurs, Employer shall notify Executive of
such breach and Executive may, if possible, attempt to cure such material
breach. Executive agrees that, in the event of a material breach by Executive of
the foregoing provisions of the Agreement, Employer would be more harmed by the
denial of an injunction or other equitable relief than Executive would be harmed
by the issuance of an injunction or other equitable relief, and that the public
interest would be furthered by the issuance of an injunction or other equitable
relief to prevent further or additional breach of the foregoing provisions of
the Agreement.

          11.  EXECUTIVE ASSIGNMENT. No interest of Executive or his Beneficiary
under the Agreement, or any right to receive any payment or distribution
hereunder, shall be subject in any manner to sale, transfer, assignment, pledge,
attachment, garnishment, or other alienation or encumbrance of any kind, nor may
such interest or right to receive a payment or distribution be taken,
voluntarily or involuntarily, for the satisfaction of the obligations or debts
of, or other claims against, Executive or his Beneficiary, including claims for
alimony, support, separate maintenance, and claims in bankruptcy proceedings.

          12.  BENEFITS UNFUNDED. Except as otherwise provided in Sections 13
and 15, all rights under the Agreement of Executive and his Beneficiary, shall
at all times be entirely unfunded, and no provision shall at any time be made
with respect to segregating any assets of Employer for payment of any amounts
due hereunder. Neither Executive nor his Beneficiary shall have any interest in
or rights against any specific assets of Employer, and Executive and his
Beneficiary shall have only the rights of a general unsecured creditor of
Employer.

          13.  EMPLOYMENT WITH AFFILIATES AND ASSOCIATES. For purposes of the
Agreement, Base Salary and Bonuses shall include remuneration received by
Executive from Employer and all Affiliates and Associates.

          14.  WAIVER. No waiver by any party at any time of any breach by the
other party of, or compliance with, any condition or provision of the Agreement
to be

                               Ex. 10.13 - Page 8

<PAGE>

performed by such other party shall be deemed a waiver of any other provisions
or conditions at the same time or at any prior or subsequent time.

          15.  LITIGATION EXPENSES. Employer shall pay 100% of Executive's
reasonable attorneys' fees and legal expenses, up to a maximum of $100,000, in
connection with any judicial proceeding to enforce the Agreement, or to construe
or determine the validity of the Agreement or otherwise in connection therewith.
Notwithstanding the preceding sentence, payments shall be made under this
section only insofar as Executive prevails in such litigation or such litigation
is resolved through settlement. The Board of Directors of Employer shall, in its
discretion, have the right at any time and from time to time to cause Employer
to fund all or any portion of the estimated amount of its obligations under this
section in such manner as it deems appropriate, including without limitation,
contributions to a trust agreement with an independent trustee as described in
Section 13, a bank letter of credit or an indemnity agreement with an
independent third party.

          16.  RELEASE. Notwithstanding any other provision of the Agreement,
payment of any benefit under the Agreement to Executive is conditioned upon the
prior execution by Executive of a release, in a form reasonably satisfactory to
Employer, whereby Executive fully releases Employer, all of its Affiliates or
Associates, and all of their respective officers, employees, directors and
agents, from any and all rights and claims that Executive, or his spouse or
Beneficiary, may at any time have with respect to his employment with Employer
and its Affiliates and Associates, including his benefit under this Agreement,
other than those benefits to which he is entitled under the Agreement after the
execution of such release. No payment shall be made to Executive until such
fully executed release has been delivered by Executive to Employer.

          17.  APPLICABLE LAW. The Agreement shall be construed and interpreted
pursuant to the laws of Illinois.

          18.  ENTIRE AGREEMENT. The Agreement contains the entire Agreement
between Employer and Executive and supersedes any and all previous agreements,
written or oral, between the parties relating to the subject matter hereof. No
amendment or modification of the terms of the Agreement shall be binding upon
the parties hereto unless reduced to writing and signed by Employer and
Executive.

          19.  NO EMPLOYMENT CONTRACT. Nothing contained in the Agreement shall
be construed to be an employment contract between Executive and Employer.

          20.  COUNTERPARTS. The Agreement may be executed in counterparts, each
of which shall be deemed an original.

          21.  SEVERABILITY. In the event any provision of the Agreement is held
illegal or invalid, the remaining provisions of the Agreement shall not be
affected thereby.

                               Ex. 10.13 - Page 9

<PAGE>

          22.  SUCCESSORS. The Agreement shall be binding upon and inure to the
benefit of the parties hereto and their respective heirs, representatives and
successors.

          23.  NOTICE. Notices required under the Agreement shall be in writing
and sent by registered mail, return receipt requested, to the following
addresses or to such other address as the party being notified may have
previously furnished to the other party by written notice:

               If to Employer:   Wisconsin Central Transportation Corporation
                                 One O'Hare Centre, Suite 9000
                                 6250 North River Road
                                 Rosemont, Illinois  60018
                                 Attention: Thomas F. Power
                                 Phone:     847-318-4602
                                 Facsimile: 847-318-4628

               With a copy to:   Schiff Hardin & Waite
                                 6600 Sears Tower
                                 233 S. Wacker Drive
                                 Chicago, Illinois 60606
                                 Attention: Frederick L. Hartmann
                                 Phone:     312-258-5656
                                 Facsimile: 312-258-5700

                          and    McLachlan, Rissman & Doll
                                 676 N. Michigan Avenue, Suite 2800
                                 Chicago, Illinois  60611
                                 Attention: Thomas W. Rissman / John H. Doll
                                 Phone:     312-266-2444
                                 Facsimile: 312-266-3330

               If to Executive:
                                  --------------------------------
                                  --------------------------------
                                  --------------------------------
                                  --------------------------------
                                  Phone:
                                        --------------------------

                              Ex. 10.13 - Page 10

<PAGE>

                                        IN WITNESS WHEREOF, Executive has
                                   hereunto set his hand, and Employer has
                                   caused these presents to be executed in its
                                   name on its behalf, all as of the day and
                                   year first above written.

                                         WISCONSIN CENTRAL TRANSPORTATION
                                           CORPORATION

                                         By: /s/ Thomas F. Power, Jr.
                                            -----------------------------

                                         Title: CEO

                                         /s/ Marty J. Mickey
                                         --------------------------------
                                         Marty J. Mickey, Executive

                              Ex. 10.13 - Page 11

<PAGE>

                                                     Schedule A to Exhibit 10.13

               ITEMS FROM PARALLEL EMPLOYMENT SECURITY AGREEMENTS

<TABLE>
<CAPTION>

Item I                             Item II                    Item III
------                             -------                    --------
<S>                                <C>                        <C>
8th day of November 2000           John L. Bradshaw           Vice-President - Corporate Development

4th day of November 2000           Deborah M. Coady           Vice-President - Human Resources and Claims

4th day of November 2000           James E. Fisk              Executive Vice-President - Corporate Development

4th day of November 2000           Janet H. Gilbert           Vice-President - General Counsel, North American
                                                              Operations

4th day of November 2000           Randy H. Henke             Chief Engineer, Structures

4th day of November 2000           Walter C. Kelly            Vice-President and Chief Accounting Officer; Chief
                                                              Financial Officer, North American Operations

4th day of November 2000           Glenn J. Kerbs             Vice-President - Engineering, North American
                                                              Operations

4th day of November 2000           J. Reilly McCarren         President and Chief Executive Officer, North America

4th day of November 2000           Robert F. Nadrowski        Vice-President - Mechanical, North American
                                                              Operations

3rd day of November 2000           Ronald G. Russ             Executive Vice President and Chief Financial Officer

4th day of November 2000           William R. Schauer         Vice-President - Marketing, North American
                                                              Operations

4th day of November 2000           J. Edward Terbell          Vice-President and General Manager, North American
                                                              Operations

4th day of November 2000           Richard P. White           Vice-President - Corporate Development
</TABLE>

                          Sch. A to Ex. 10.13 - Page 1

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