Document:

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                                                                   Exhibit 10.28

                                  May 24, 2002

Alfred I. DuPont Testamentary Trust
4600 Touchton Road, E.
Building 200, Suite 500
Jacksonville, Florida  32246

Ladies and Gentlemen:

         This letter sets forth the agreement between The St. Joe Company, a
Florida corporation (the "Company") and the Alfred I. DuPont Testamentary Trust
(the "Trust") with respect to the Company's purchase of certain shares of the
Company's Common Stock, no par value (the "Common Stock") owned by the Trust.

         The Company agrees to buy, and the Trust agrees to sell to the Company,
the number of shares of the Common Stock equal to (i) $75 million divided by
(ii) the per share price to the public of the Common Stock to be sold in the
secondary offering contemplated by the Company's Registration Statement on Form
S-1 to be filed with the Securities and Exchange Commission (the "Registration
Statement"). The purchase price per share shall equal the price per share to the
public in the offering contemplated by the Registration Statement and shall be
paid in immediately available funds to an account designated by the Trust. The
closing of the sale contemplated by this letter shall occur on the same day as,
and is subject to and conditioned upon, the closing of the offering contemplated
by the Registration Statement.

         Please indicate your agreement to the foregoing by executing and
returning the enclosed copy of this letter.

                                              THE ST. JOE COMPANY

                                              /s/ Robert M. Rhodes

                                              By:       Robert M. Rhodes
                                              Title:    Executive Vice President
                                                        General Counsel

Agreed to:

ALFRED I. DUPONT TESTAMENTARY TRUST

By:        /s/ W. L. Thornton
           _______________________________

Title:     Trustee
           _______________________________<PAGE>

                FOURTH AMENDMENT AND CONSENT TO CREDIT AGREEMENT
                ------------------------------------------------

                  FOURTH AMENDMENT AND CONSENT TO CREDIT AGREEMENT (this
"Amendment"), dated as of May 14, 2002, among PACER INTERNATIONAL, INC. (f/k/a
LAND TRANSPORT SERVICES, INC.), a Tennessee corporation (the "Borrower"), the
lending institutions party to the Credit Agreement referred to below (the
"Banks"), CREDIT SUISSE FIRST BOSTON, as Documentation Agent (in such capacity,
the "Documentation Agent"), MORGAN STANLEY SENIOR FUNDING, INC., as Syndication
Agent (in such capacity, the "Syndication Agent"), DEUTSCHE BANK TRUST COMPANY
AMERICAS (f/k/a BANKERS TRUST COMPANY), as Administrative Agent (in such
capacity, the "Administrative Agent" and, together with the Documentation Agent
and Syndication Agent, each, an "Agent" and, collectively, the "Agents"). Unless
otherwise indicated, all capitalized terms used herein and not otherwise defined
shall have the respective meanings provided such terms in the Credit Agreement
referred to below.

                              W I T N E S S E T H:
                              - - - - - - - - - -

                  WHEREAS, the Borrower, the Banks and the Agents are parties to
a Credit Agreement, dated as of May 28, 1999 (as amended, modified or
supplemented to, but not including, the date hereof, the "Credit Agreement");

                  WHEREAS, the Borrower has requested certain amendments and a
certain consent to the Credit Agreement, in each case as described below; and

                  WHEREAS, subject to the terms and conditions of this
Amendment, the parties hereto wish to amend the Credit Agreement, and the Banks
wish to grant a certain consent to Credit Agreement, in each case as herein
provided;

                  NOW, THEREFORE, it is agreed:

I.       Amendments and Consent to the Credit Agreement.
         ----------------------------------------------

                  1. Section 9.05 of the Credit Agreement is hereby amended by
(i) inserting the word "other" immediately prior to the second reference to the
word "Person" appearing in said Section and (ii) deleting clause (q) of said
Section in its entirety and inserting the following new clause (q) in lieu
thereof:

                  "(q) (i) the Borrower and any Subsidiary Guarantor may make
           cash equity contributions to any (other) Subsidiary Guarantor which
           is a direct Wholly-Owned Subsidiary of the Person making such
           contribution, (ii) any Subsidiary Guarantor may make non-cash equity
           contributions to any (other) Subsidiary Guarantor which is a direct
           Wholly-Owned Subsidiary of the Subsidiary Guarantor making such
           contribution,

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           so long as any security interest granted to the Collateral Agent for
           the benefit of the Secured Creditors pursuant to the Security
           Documents in any assets so contributed shall remain in full force and
           effect and perfected (to at least the same extent as in effect
           immediately prior to such contribution) and all actions required to
           maintain said perfected status have been taken and (iii) the Borrower
           may contribute to Pacer Logistics any Pacer Logistics Preferred Stock
           received by it in exchange for Borrower Common Stock in connection
           with any exchange of Pacer Logistics Preferred Stock for Borrower
           Common Stock permitted hereunder, so long as all shares of Pacer
           Logistics Preferred Stock so contributed are promptly cancelled upon
           receipt thereof by Pacer Logistics.".

                  2. Section 9.06 of the Credit Agreement is hereby amended by
(i) inserting the text "or other equityholders" immediately after the word
"stockholders" appearing in the preamble to said Section, (ii) deleting the text
"(other than dividends payable solely in common stock of the Borrower or any
such Subsidiary, as the case may be)" appearing in the preamble of said Section
and (iii) inserting the text ", except to the extent paid by such Person to its
shareholders with the common stock of such Person," immediately prior to the
text ""Dividends)" appearing in said Section.

                  3. Notwithstanding anything to the contrary contained in
Section 9 of the Credit Agreement, the Banks hereby consent to the entering
into, and the consummation of the exchange transactions contemplated by, (i)
that certain Stock Exchange Agreement and Plan of Reorganization, to be entered
into by the Borrower, Pacer Logistics, Donald C. Orris, Gerry Angeli, Robert L.
Cross, Gari I. Goldfein, Allen E. Steiner, John W. Hein and Richard P. Hyland,
in the form attached as Annex A hereto (with such modifications thereto as may
be acceptable to the Administrative Agent) and (ii) that certain Plan of
Reorganization, to be entered into by the Borrower and Coyote Acquisition LLC,
in the form attached as Annex B hereto (with such modifications thereto as may
be acceptable to the Administrative Agent).

II.      Miscellaneous Provisions.
         ------------------------

                  1. In order to induce the Banks to enter into this Amendment,
the Borrower hereby represents and warrants that (x) no Default or Event of
Default exists as of the Fourth Amendment Effective Date, both before and after
giving effect to this Amendment and (y) all of the representations and
warranties contained in the Credit Agreement or the other Credit Documents are
true and correct in all material respects on the Fourth Amendment Effective Date
both before and after giving effect to this Amendment, with the same effect as
though such representations and warranties had been made on and as of the Fourth
Amendment Effective Date (it being understood that any representation or
warranty made as of a specific date shall be true and correct in all material
respects as of such specific date).

                  2. This Amendment is limited as specified and shall not
constitute a modification, acceptance or waiver of any other provision of the
Credit Agreement or any other Credit Document.

                  3. This Amendment may be executed in any number of
counterparts and by the different parties hereto on separate counterparts, each
of which counterparts when executed

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and delivered shall be an original, but all of which shall together constitute
one and the same instrument. A complete set of counterparts shall be lodged with
the Borrower and the Administrative Agent.

                  4. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE
PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW
OF THE STATE OF NEW YORK.

                  5. This Amendment shall become effective on the date (the
"Fourth Amendment Effective Date") when the Borrower and the Banks constituting
the Required Banks shall have signed a counterpart hereof (whether the same or
different counterparts) and shall have delivered (including by way of facsimile
transmission) the same to White & Case LLP, 1155 Avenue of the Americas, New
York, NY 10036, Attention: Sarah Jackel (facsimile number 212-354-8113).

                  6. From and after the Fourth Amendment Effective Date, all
references in the Credit Agreement and each of the other Credit Documents to the
Credit Agreement shall be deemed to be references to the Credit Agreement as
modified hereby.

                                      * * *

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                  IN WITNESS WHEREOF, the parties hereto have caused their duly
authorized officers to execute and deliver this Amendment as of the date first
above written.

                                       PACER INTERNATIONAL, INC. (f/k/a Land
                                        Transport Services, Inc.)

                                       By: /S/ Lawrence C. Yarberry
                                          -----------------------------------
                                            Name: Lawrence C. Yarberry
                                            Title: E.V.P. & C.F.D.

                                       DEUTSCHE BANK TRUST COMPANY AMERICAS
                                        (f/k/a Bankers Trust Company),
                                        Individually and as Administrative Agent

                                       By:  /S/ Marguerite Sutton
                                          -----------------------------------
                                            Name: Marguerite Sutton
                                            Title: Vice President

                                       MORGAN STANLEY SENIOR FUNDING, INC.,
                                        Individually and as
                                        Syndication Agent

                                       By:   /S/ Charles C. O'brien
                                          -----------------------------------
                                            Name: Charles C. O'brien
                                            Title: Vice President

                                       CREDIT SUISSE FIRST BOSTON,
                                        Individually and as
                                        Documentation Agent

                                       By:
                                          -----------------------------------
                                            Name:
                                            Title:

                                       By:
                                          -----------------------------------
                                            Name
                                            Title:

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                                        FLEET NATIONAL BANK

                                        By:   /S/ William Latham
                                           ------------------------------------
                                             Name: William Latham
                                             Title: Director

                                        BANK UNITED

                                        By:
                                           ------------------------------------
                                             Name:
                                             Title:

                                        LASALLE BANK NATIONAL ASSOCIATION

                                        By:   /S/ Robert W. Hart
                                           ------------------------------------
                                             Name: Robert W. Hart
                                             Title: First Vice President

                                        By:   /S/
                                           ------------------------------------
                                             Name:
                                             Title: Director

                                        BANK ONE, NA (f/k/a The First National
                                         Bank of Chicago)

                                        By:   /S/ Christopher Cavaiani
                                           ------------------------------------
                                            Name: Christopher Cavaiani
                                            Title: Director

                                        CREDIT LYONNAIS NEW YORK BRANCH

                                        By:   /S/ Michael Regan
                                           ------------------------------------
                                             Name: Michael Regan
                                             Title: Vice President

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                                        WACHOVIA BANK NATIONAL ASSOCIATION

                                        By: /s/ Alex A. Diffey Jr.
                                           ------------------------------------
                                             Name: Alex A. Diffey Jr.
                                             Title:Senior Vice President

                                        HELLER FINANCIAL

                                        By: /s/ Karl Kieffer
                                           ------------------------------------
                                             Name: Karl Kieffer
                                             Title:Duly Authorized Signatory

                                        THE MITSUBISHI TRUST AND BANKING
                                         CORPORATION

                                        By:
                                           ------------------------------------
                                             Name:
                                             Title:

                                        THE PRUDENTIAL INSURANCE COMPANY OF
                                         AMERICA

                                        By: /s/ B. Ross Smead
                                           ------------------------------------
                                             Name: B. Ross Smead
                                             Title:Vice President

                                        TRANSAMERICA BUSINESS CAPITAL
                                         CORPORATION

                                        By: /s/ Stephen Goetschius
                                           ------------------------------------
                                             Name: Stephen Goetschius
                                             Title:Senior Vice President

                                        UNION BANK OF CALIFORNIA, N.A.

                                        By: /s/ J. William Bloone
                                           ------------------------------------
                                             Name: J. William Bloone
                                             Title: Vice President

<PAGE>

                                        MIZUHO CORPORATE BANK, LTD.

                                        By: /s/ Masahito Fukuda
                                           ------------------------------------
                                             Name: Masahito Fukuda
                                             Title:Senior Vice President

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