Document:

waiverandamdmtagrmt.htm

     

     

    
      

      

    

     

    WAIVER
AND AMENDMENT AGREEMENT

    

    WAIVER AND
AMENDMENT
AGREEMENT, dated as of March 31, 2008 (this “Agreement”), among
LEAF III A SPE, LLC, a Delaware limited liability company (“Borrower”), LEAF
FINANCIAL CORPORATION, a Delaware corporation (“LEAF Financial”), as
servicer (in such capacity, together with its successors and assigns, the “Servicer”), LEAF
FUNDING, INC., a Delaware corporation (“LEAF Funding”), LEAF
EQUIPMENT LEASING INCOME FUND III, L.P., a Delaware limited partnership (“LEAF III”), the
Required Lenders and MERRILL LYNCH BANK USA, a Utah industrial bank (“MLBUSA”), as
administrative agent (together with its permitted successors in such capacity,
the “Administrative
Agent”).

     

    WITNESSETH:

     

    WHEREAS, capitalized terms
used herein shall have the meanings ascribed thereto in the Definitions and
Rules of Construction attached as Appendix A to the Purchase and Sale Agreement,
dated as of July 2, 2007, between LEAF Funding and LEAF III, as amended,
supplemented or otherwise modified as of the date hereof;

     

    WHEREAS, the Servicer,
Borrower and LEAF III have requested, and the Required Lenders have agreed to a
certain waiver as set forth below;

     

    WHEREAS, the parties hereto
intend to amend certain Transaction Documents on the terms and subject to the
satisfaction of the conditions set forth herein.

     

    NOW, THEREFORE, in
consideration of the premises and of the mutual covenants and agreements
contained herein, the parties hereto hereby agree as follows:

     

    SECTION
1. Waiver.  The
Required Lenders hereby grant a waiver of the requirement that LEAF III and
Borrower comply with subsection (n) of the definition of Servicer Default for
the fiscal quarter ending December 31, 2007, such waiver to be applicable solely
with respect to such fiscal quarter.

     

    SECTION
2. Amendment.

     

    (a) As of the
Effective Date, the Definitions and Rules of Construction attached to the
Purchase and Sale Agreement as Appendix A is hereby amended to add, replace and
otherwise revise (as the case may be) definitions in alphabetical order as
follows:

     

    (i) “Lenders”: the
following is added after the term “Assignment Agreement”: “, a Support
Agreement.”

     

    (ii) “LIBO Rate Lender”:
the following is added at the end of such definition: “and any Support
Institution which provides credit or liquidity support to a CP Rate Lender under
a Support Agreement.”

     

    (iii) “Scheduled Maturity
Date” means November 24, 2008.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    - 2
-

     

    (b) As of
April 22, 2008, the Definitions and Rules of Construction attached to the
Purchase and Sale Agreement as Appendix A shall be amended to add, replace and
otherwise revise (as the case may be) definitions in alphabetical order as
follows:

     

    (i) “Alternate Fee Rate”
means 3.00%, per annum.

     

    (ii) “Facility Fee Rate”
means 2.00%, per annum.

     

    (iii) “Funded Rate”: clause
(b) is deleted in its entirety and replaced with the following
language:  “the Alternate Fee Rate or the Facility Fee Rate, whichever
is then applicable.”

     

    (c) As of April 22, 2008, Section
2.05(a)(ii)(y) of the Loan Agreement shall be deleted in its entirety and
replaced with the following term:  “the Alternate Fee
Rate.”

     

    SECTION
3. Conditions Precedent to the
Effectiveness of this Agreement.  This Agreement shall become
effective as of the date hereof (the “Effective Date”)
provided that each of the following conditions precedent shall have been
satisfied, or waived by the Required Lenders, on or before such
date:

     

    (a) The
Required Lenders shall have received this Agreement, executed and delivered by a
duly Authorized Officer of each party hereto.

     

    (b) As of the
date hereof, the representations and warranties made herein by LEAF Funding,
LEAF Financial, LEAF III and Borrower shall be true and correct in all material
respects on and as of such date as if made on and as of such date (except to the
extent such representation or warranty expressly relates to an earlier date, in
which case such representation or warranty shall be true and correct in all
material respects as of such earlier date).

     

    (c) No
Potential Termination Event or Termination Event shall have occurred and be
continuing or shall occur as a result of this Agreement.

     

    SECTION
4. Representations and
Warranties.  To induce the Required Lenders to enter into this
Agreement, each of LEAF Funding, LEAF Financial, LEAF III and Borrower hereby
represent and warrant to the Required Lenders as follows:

     

    (a) Its
execution, delivery and performance of this Agreement have been duly and validly
authorized by all necessary action on the part of it.

     

    (b) No
Potential Termination Event or Termination Event has occurred and is continuing
or shall occur as a result of this Agreement.

     

    SECTION
5. Reference to and Effect on
the Transaction Documents.  As of the Effective Date, any
reference in any Transaction Document to the Definitions and Rules of
Construction attached to the Purchase and Sale Agreement as Appendix A or the
Loan Agreement shall be to such Definitions and Rules of Construction or Loan
Agreement, respectively, as amended hereby.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

      - 3 -

       

    

    SECTION
6. Counterparts.  This
Agreement may be executed by one or more of the parties to this Agreement on any
number of separate counterparts (including by facsimile transmission of
signature pages hereto), and all of said counterparts taken together shall be
deemed to constitute one and the same instrument.

     

    SECTION
7. Severability.  Any
provision of this Agreement which is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining
provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction.

     

    SECTION
8. GOVERNING LAW AND THE
RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND
CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW
YORK.

     

    

     

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    IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by
their respective officers thereunto duly authorized, as of the date first above
written.

     

    

     

    
      	
               
      

            	
              LEAF
      III A SPE, LLC, as Borrower

            

    

     

    
      	
               
      

            	
              By:

            	 _______________________

    

     

    
      	
               
      

            	
              Name:

            

    

     

    
      	
               
      

            	
              Title:

            

    

     

    

     

    
      	
               
      

            	
              LEAF
      FINANCIAL CORPORATION, as Servicer

            

    

     

    
      	
               
      

            	
              By:

            	 _______________________

    

     

    
      	
               
      

            	
              Name:

            

    

     

    
      	
               
      

            	
              Title:

            

    

     

    

     

    
      	
               
      

            	
              LEAF
      FUNDING, INC.

            

    

     

    
      	
               
      

            	
              By:

            	 _______________________

    

     

    
      	
               
      

            	
              Name:

            

    

     

    
      	
               
      

            	
              Title:

            

    

     

    

     

    
      	
               
      

            	
              LEAF
      EQUIPMENT LEASING INCOME FUND III,
L.P.

            

    

     

    
      	
               
      

            	
              By:
      LEAF Asset Management LLC, its General
Partner

            

    

     

    
      	
               
      

            	
              By:

            	 _______________________

    

     

    
      	
               
      

            	
              Name:

            

    

     

    
      	
               
      

            	
              Title:

            

    

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
               
      

            	
              ZANE
      FUNDING, LLC, as a CP Rate Lender and as Required
  Lender

            

    

     

    
      	
               
      

            	
              By:

            	 _______________________	 

    

     

    
      	
               
      

            	
              Name:

            

    

     

    
      	
               
      

            	
              Title:

            

    

     

    

     

    
      	
               
      

            	
              MERRILL
      LYNCH BANK USA, as the Administrative
Agent

            

    

     

    
      	
               
      

            	
              By:

            	 _______________________

    

     

    
      	
               
      

            	
              Name:

            

    

     

    
      	
               
      

            	
              Title:</head>

<body lang=EN-US link=blue vlink=purple>

<hr>
<p align="center">&nbsp;</p>
<p align="center"><b>NORFOLK SOUTHERN CORPORATION</b></p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center">(a Virginia corporation)</p>
</p>

&nbsp;<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center">5.750% Senior Notes due 2018</p>
</p>

&nbsp;<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center">PURCHASE AGREEMENT</p>
</p>

&nbsp;<p align="center">&nbsp;</p>
<p align="center">&nbsp;</p>
<p align="center">Dated April 1, 2008</p>
<p align="center">&nbsp;</p><hr>
</p>

<p align="center">

<b><br clear=all
style='page-break-before:always'>

NORFOLK SOUTHERN CORPORATION<br>
(a Virginia corporation)</b></p>
</p>

&nbsp;<p align="center"><b>$600,000,000<br>
5.750% Senior Notes due 2018</b></p>
</p>

&nbsp;<p align="center"><b>PURCHASE AGREEMENT</b></p>
</p>

&nbsp;<p align="right"><b>April 1, 2008</b></p>
</p>

<p class=SingleParaFlush>MERRILL LYNCH &amp; CO.<br>
Merrill Lynch, Pierce, Fenner &amp; Smith<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Incorporated<br>
Barclays Capital Inc.<br>
Deutsche Bank Securities Inc.</p>

<p class=AlternatePara>as Representatives of the several Initial Purchasers</p>

<p class=SingleParaFlush style='margin-bottom:0in;margin-bottom:.0001pt'>c/o&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Merrill
Lynch &amp; Co.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Merrill Lynch, Pierce, Fenner &amp; Smith</p>

<p class=SingleParaFlush style='margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Incorporated</p>

<p class=SingleParaFlush>4 World Financial Center<br>
  New York, New York 10080</p>

<p class=SingleParaFlush>Ladies and Gentlemen:</p>

<p class=SinglePara>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Norfolk Southern Corporation, a Virginia corporation (the
&quot;Company&quot;), confirms its agreement with Merrill Lynch &amp; Co., Merrill Lynch,
Pierce, Fenner &amp; Smith Incorporated (&quot;Merrill Lynch&quot;) and each of the other
Initial Purchasers named in Schedule A hereto (collectively, the &quot;Initial
Purchasers,&quot; which term shall also include any initial purchaser substituted as
hereinafter provided in Section 11 hereof), for whom Merrill Lynch, Barclays
Capital Inc. and Deutsche Bank Securities Inc. are acting as representatives
(in such capacity, the &quot;Representatives&quot;), with respect to the issue and sale
by the Company and the purchase by the Initial Purchasers, acting severally and
not jointly, of the respective principal amounts set forth in said Schedule A
of $600,000,000 aggregate principal amount of the Company's 5.750% Senior Notes
due 2018 (the &quot;Securities&quot;).&nbsp; The Securities are to be issued pursuant to an
indenture, dated as of April 4, 2008 (the &quot;Indenture&quot;), between the Company and
U.S. Bank Trust National Association, as trustee (the &quot;Trustee&quot;).</p>

<p class=SinglePara>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company understands that the Initial Purchasers propose
to make an offering of the Securities on the terms and in the manner set forth
herein and agrees that the Initial Purchasers may resell, subject to the
conditions set forth herein, all or a portion of the Securities to purchasers
(&quot;Subsequent Purchasers&quot;) at any time after this Agreement has been executed
and delivered.&nbsp; The Securities are to be offered and sold through the Initial
Purchasers without being registered under the Securities Act of 1933, as
amended (the &quot;1933 Act&quot;), in reliance upon exemptions therefrom.&nbsp; Pursuant to
the terms of the Securities and the Indenture, Subsequent Purchasers may only
resell or otherwise transfer such Securities if such Securities are hereafter
registered under the 1933 Act or if an exemption from the registration
requirements of the 1933 Act is available (including the exemption afforded by
Rule 144A (&quot;Rule 144A&quot;) or Regulation S (&quot;Regulation S&quot;) of the rules and
regulations promulgated under the 1933 Act by the Securities and Exchange
Commission (the &quot;Commission&quot;)).</p>

<p class=SinglePara>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company has prepared and delivered to each Initial
Purchaser copies of a preliminary offering memorandum, dated April 1, 2008 (the
&quot;Preliminary Offering Memorandum&quot;) and has prepared and will deliver to each
Initial Purchaser, on the date hereof or the next succeeding day, copies of a
final offering memorandum, dated April 1, 2008 (the &quot;Final Offering
Memorandum&quot;), each for use by such Initial Purchaser in connection with its
solicitation of purchases of, or offering of, the Securities.&nbsp; &quot;Offering
Memorandum&quot; means, with respect to any date or time referred to in this
Agreement, the most recent offering memorandum (whether the Preliminary
Offering Memorandum or the Final Offering Memorandum, or any amendment or
supplement to either such document), including exhibits thereto and any
documents incorporated therein by reference, which has been prepared and
delivered by the Company to the Initial Purchasers in connection with their
solicitation of purchases of, or offering of, the Securities.</p>

<p class=SinglePara>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All references in this Agreement to financial statements
and schedules and other information which is &quot;contained,&quot; &quot;included&quot; or
&quot;stated&quot; in the Offering Memorandum (or other references of like import) shall
be deemed to mean and include all such financial statements and schedules and
other information which are incorporated by reference in the Offering
Memorandum; and all references in this Agreement to amendments or supplements
to the Offering Memorandum shall be deemed to mean and include the filing of
any document under the Securities Exchange Act of 1934 (the &quot;1934 Act&quot;) which
is incorporated by reference in the Offering Memorandum.</p>

<p class=SinglePara>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The holders of the Securities will be entitled to the
benefits of the registration rights agreement to be dated as of the Closing
Time (the &quot;Registration Rights Agreement&quot;), among the Company and the
Initial Purchasers, pursuant to which the Company will agree to file, within
180 days following the Closing Time a registration statement with the
Commission registering the Exchange Notes (as defined in the Registration
Rights Agreement) under the 1933 Act.</p>

<p class=ShortOutlineStyle1 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SECTION
1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Representations and Warranties by the Company</u>.</p>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<i>&nbsp;Representations and Warranties</i>.&nbsp; The Company represents and
warrants to each Initial Purchaser as of the date hereof and as of Closing Time
referred to in Section 2(b) hereof, and agrees with each Initial Purchaser, as
follows:</p>

<blockquote>
	<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (i)&nbsp;&nbsp;&nbsp;&nbsp;
	<u>Disclosure Package and Final Offering Memorandum</u>.&nbsp; As of the
Applicable Time (as defined below), neither (x) the Offering Memorandum as of
the Applicable Time as supplemented by the final pricing term sheet, in the
form attached hereto as Schedule C (the &quot;Pricing Supplement&quot;), that has been
prepared and delivered by the Company to the Initial Purchasers in connection
with their solicitation of offers to purchase Securities all considered
together (collectively, the &quot;Disclosure Package&quot;), nor (y) any individual
Supplemental Offering Materials (as defined below), when considered together
with the Disclosure Package, included any untrue statement of a material fact
or omitted to state any material fact necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not
misleading.&nbsp; &quot;Applicable Time&quot; means 4:00 P.M. (Eastern time) on April 1, 2008
or such other time as agreed by the Company and the Representatives.</p>
	<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &quot;Supplemental Offering Materials&quot; means any &quot;written
communication&quot; (within the meaning of the 1933 Act Regulations (as defined
below)) prepared by or on behalf of the Company, or used or referred to by the
Company, that constitutes an offer to sell or a solicitation of an offer to buy
the Securities other than the Offering Memorandum or amendments or supplements
thereto (including the Pricing Supplement), including, without limitation, any
road show relating to the Securities that constitutes such a written
communication. </p> </p>
	<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of its issue date and as of the Closing Time, the Final
Offering Memorandum will not include an untrue statement of a material fact or
omit to state a material fact necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not
misleading.</p>
		<p class=SinglePara>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The representation and warranties in this subsection shall
not apply to statements in or omissions from the Disclosure Package or the
Final Offering Memorandum made in reliance upon and in conformity with written
information furnished to the Company by any Initial Purchaser through the
Representatives expressly for use therein. </p>
		<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
		<u>Incorporated Documents</u>.&nbsp; The Offering Memorandum as delivered
from time to time shall incorporate by reference the most recent Annual Report
of the Company on Form 10 K filed with the Commission and each Quarterly Report
of the Company on Form 10 Q and each Current Report of the Company on Form 8 K
filed with the Commission since the end of the fiscal year to which such Annual
Report relates.&nbsp; The documents incorporated or deemed to be incorporated by
reference in the Offering Memorandum at the time they were or hereafter are
filed with the Commission complied and will comply in all material respects
with the requirements of the 1934 Act and the rules and regulations of the
Commission thereunder (the &quot;1934 Act Regulations&quot;), and, when read together
with the other information in the Offering Memorandum, at the time the Offering
Memorandum was issued and at Closing Time, did not and will not include an
untrue statement of a material fact or omit to state a material fact required
to be stated therein or necessary to make the statements therein not
misleading.</p>
		<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
		<u>Independent Accountants</u>.&nbsp; KPMG LLP, who have certified the
financial statements of the Company and its subsidiaries and supporting
schedules included in the Disclosure Package and the Final Offering Memorandum,
are independent public accountants within the meaning of the 1933 Act and the
rules and regulations thereunder (the &quot;1933 Act Regulations&quot;).</p>
		<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
		<u>No Material Adverse Change in Business</u>.&nbsp; Since the respective
dates as of which information is given in the Disclosure Package and the Final
Offering Memorandum there has not been any material adverse change, or any
development involving a prospective material adverse change, in or affecting
the general affairs, management, financial position, shareholders' equity or
results of operations of the Company and its subsidiaries considered as one
enterprise otherwise than as set forth or contemplated in the Disclosure
Package and the Final Offering Memorandum.</p>
		<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
		<u>Good Standing of the Company</u>.&nbsp; The Company has been duly
organized and is validly existing as a corporation in good standing under the
laws of the Commonwealth of Virginia, with corporate power and authority to own
its properties and conduct its business as described in the Disclosure Package
and the Final Offering Memorandum; and the Company is duly qualified as a
foreign corporation to transact business and is in good standing under the laws
of each other jurisdiction in which the conduct of its business or the
ownership of its property requires such qualification, except where the failure
to be so qualified could not reasonably be expected to have a Material Adverse Effect
(as defined herein) on its ability to perform its obligations with respect to -
or the enforceability of - the Securities or its business or financial
condition.</p>
		<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
		<u>Capitalization</u>.&nbsp; The Company has an authorized capitalization as
set forth in the Offering Memorandum, and all of the issued shares of capital
stock of the Company have been duly and validly authorized and issued and are
fully paid and non-assessable, and all of the issued shares of capital stock of
Norfolk Southern Railway Company (&quot;NSR&quot;) owned by the Company have
been duly and validly authorized and issued and are fully paid and
non-assessable, and (except for directors' qualifying shares) are owned
directly or indirectly by the Company, free and clear of all liens,
encumbrances, equities or claims other than agreements relating to joint
venture companies.</p>
		<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
		<u>Authorization of the Securities</u>.&nbsp; The Securities have been duly
authorized and, at Closing Time, will have been duly executed by the Company
and, when authenticated, issued and delivered in the manner provided for in the
Indenture and delivered against payment of the purchase price therefor as
provided in this Agreement, will constitute valid and binding obligations of
the Company, enforceable against the Company in accordance with their terms,
except as the enforcement thereof may be limited by bankruptcy, insolvency
(including, without limitation, all laws relating to fraudulent transfers)
reorganization, moratorium or similar laws affecting enforcement of creditors'
rights generally and except as enforcement thereof is subject to general
principles of equity (regardless of whether enforcement is considered in a
proceeding in equity or at law), and will be in the form contemplated by, and
entitled to the benefits of, the Indenture.&nbsp; The Exchange Notes have been duly
authorized and, when executed and authenticated and issued and delivered by the
Company in exchange for the Securities pursuant to the Exchange Offer (as
defined in the Registration Rights Agreement, will constitute valid and
binding obligations of the Company, enforceable against the Company in
accordance with their terms, except as the enforcement thereof may be limited
by bankruptcy, insolvency (including, without limitation, all laws relating to
fraudulent transfers) reorganization, moratorium or similar laws affecting
enforcement of creditors' rights generally and except as enforcement thereof is
subject to general principles of equity (regardless of whether enforcement is
considered in a proceeding in equity or at law), and will be in the form
contemplated by, and entitled to the benefits of, the Indenture.</p>
		<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (viii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
		<u>Description of the Securities and the Indenture</u>.&nbsp; The Securities,
the Indenture and the Registration Rights Agreement will conform in all
material respects to the respective statements relating thereto contained in
the Disclosure Package and the Final Offering Memorandum and will be in
substantially the respective forms last delivered to the Initial Purchasers
prior to the date of this Agreement.&nbsp; The Exchange Notes will conform in all
material respects to the statement relating thereto contained in the Offering
Memorandum and the Registration Statement (as defined in the Registration
Rights Agreement) at the time it becomes effective.</p>
		<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ix)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
		<u>Absence of Defaults and Conflicts</u>.&nbsp; The issue and sale of the
Securities and the compliance by the Company with all of the provisions of the
Securities, the Indenture, this Agreement and the consummation of the
transactions herein contemplated will not conflict with or result in a breach
of the terms or provisions of, or constitute a default under, or result in the
creation or imposition of any lien, charge or encumbrance upon any of the
property or assets of the Company or NSR pursuant to the terms of any
indenture, mortgage, deed of trust, loan agreement or other agreement or
instrument to which the Company or NSR is a party or by which the Company or
NSR is bound or to which any of the property or assets of the Company or NSR is
subject, other than those conflicts, breaches or defaults that would not,
individually or in the aggregate, have a material adverse effect on the financial
condition, earnings, business affairs or business prospects of the Company and
its subsidiaries considered as one enterprise, whether or not arising in the
ordinary course of business (a &quot;Material Adverse Effect&quot;), nor will such
action result in any violation of the provisions of the Restated Articles of
Incorporation or Bylaws of the Company or any statute or any order, rule or
regulation of any court or governmental agency or body having jurisdiction over
the Company or NSR or any of their properties other than those violations that
would not have a Material Adverse Effect; and no consent, approval,
authorization, order, registration or qualification of or with any such court
or governmental agency or body is required for the issue and sale of the
Securities or the consummation by the Company of the transactions contemplated
by this Agreement, the Indenture or the Registration Rights Agreement other
than (i) registration under the 1933 Act of the Exchange Notes (including filings
with the Financial Industry Regulatory Authority (&quot;FINRA&quot;)) and (ii)
qualification of the Indenture under the Trust Indenture Act of 1939, as
amended (the &quot;Trust Indenture Act&quot;), in each case, upon consummation of the
Exchange Offer, and except such consents, approvals, authorizations,
registrations or qualifications as may be required under state securities or
Blue Sky laws or under the laws of foreign jurisdictions in connection with the
purchase and distribution of the Securities by the Initial Purchasers.</p>
		<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
		<u>Absence of Proceedings</u>.&nbsp; There are no legal or governmental
proceedings pending to which the Company or any of its subsidiaries is a party
or of which any property of the Company or any of its subsidiaries is the
subject which would be required to be described in the Offering Memorandum were
the Offering Memorandum a registration statement under the 1933 Act which is
not described in the Offering Memorandum or the Disclosure Package; the legal
or governmental proceedings not so described are proceedings incidental to the
kind of business conducted by the Company and its subsidiaries considered as
one enterprise which will not individually or in the aggregate have a Material
Adverse Effect; and there is no material contract or other material document of
a character which would be required to be described in the Offering Memorandum
were the Offering Memorandum a registration statement under the 1933 Act that
are not so described in the Offering Memorandum or the Disclosure Package.</p>
		<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (xi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
		<u>Rule 144A Eligibility</u>.&nbsp; The Securities are eligible for resale
pursuant to Rule 144A and will not be, at Closing Time, of the same class as
securities listed on a national securities exchange registered under Section 6
of the 1934 Act, or quoted in a U.S. automated interdealer quotation system.</p>
		<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (xii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
		<u>No General Solicitation</u>.&nbsp; None of the Company, its affilitates,
as such term is defined in Rule 501(b) under the 1933 Act
(&quot;Affiliates&quot;), or any person acting on its or any of their behalf
(other than the Initial Purchasers and their Affiliates, as to whom the Company
makes no representation) has engaged or will engage, in connection with the
offering of the offered Securities, in any form of general solicitation or
general advertising within the meaning of Rule 502(c) under the 1933 Act.</p>
		<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (xiii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
		<u>No Registration Required</u>.&nbsp; Subject to compliance by the Initial
Purchasers with the representations and warranties of the Initial Purchasers
and the procedures set forth in Section 6 hereof, it is not necessary in
connection with the offer, sale and delivery of the offered Securities to the
Initial Purchasers and to each Subsequent Purchaser in the manner contemplated
by this Agreement, the Offering Memorandum to register the Securities under the
1933 Act or to qualify the Indenture under the Trust Indenture Act.</p>
		<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (xiv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
		<u>No Directed Selling Efforts</u>. With respect to those offered
Securities sold in reliance on Regulation S, (A) none of the Company, its
Affiliates or any person acting on its or their behalf (other than the Initial
Purchasers and their Affiliates, as to whom the Company makes no
representation) has engaged or will engage in any directed selling efforts
within the meaning of Regulation S and (B) each of the Company and its
Affiliates and any person acting on its or their behalf (other than the Initial
Purchasers and their Affiliates, as to whom the Company makes no
representation) has complied and will comply with the offering restrictions
requirement of Regulation S.</p>
	</blockquote>
</blockquote>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Officer's Certificates</i>.&nbsp; Any certificate signed by any officer of
the Company or any of its subsidiaries delivered to the Representatives or to
counsel for the Initial Purchasers shall be deemed a representation and
warranty by the Company to each Initial Purchaser as to the matters covered
thereby.</p>

<p class=ShortOutlineStyle1 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
SECTION 2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Sale</u><u> and Delivery to Initial Purchasers; Closing</u>.&nbsp; </p>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Securities</i>.&nbsp; On the basis of the representations and warranties
herein contained and subject to the terms and conditions herein set forth, the
Company agrees to sell to each Initial Purchaser, severally and not jointly,
and each Initial Purchaser, severally and not jointly, agrees to purchase from
the Company, at the price set forth in Schedule B, the aggregate principal
amount of Securities set forth in Schedule A opposite the name of such Initial
Purchaser, plus any additional principal amount of Securities which such
Initial Purchaser may become obligated to purchase pursuant to the provisions
of Section 11 hereof.</p>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Payment</i>.&nbsp; Payment of the purchase price for, and delivery of
certificates for, the Securities shall be made at the office of Skadden, Arps,
Slate, Meagher &amp; Flom LLP, or at such other place as shall be agreed upon
by the Representatives and the Company, at 9:00 A.M. (Eastern time) on the
third business day after the date hereof (unless postponed in accordance with
the provisions of Section 11), or such other time not later than ten business
days after such date as shall be agreed upon by the Representatives and the
Company (such time and date of payment and delivery being herein called
&quot;Closing Time&quot;).</p>

<p class=SinglePara>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payment shall be made to the Company by wire transfer of
immediately available funds to a bank account designated by the Company,
against delivery to the Representatives for the respective accounts of the
Initial Purchasers of certificates for the Securities to be purchased by them.&nbsp;
It is understood that each Initial Purchaser has authorized the
Representatives, for its account, to accept delivery of, receipt for, and make
payment of the purchase price for, the Securities which it has agreed to
purchase.&nbsp; Merrill Lynch, individually and not as representative of the Initial
Purchasers, may (but shall not be obligated to) make payment of the purchase
price for the Securities to be purchased by any Initial Purchaser whose funds
have not been received by Closing Time, but such payment shall not relieve such
Initial Purchaser from its obligations hereunder.</p>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Denominations; Registration</i>.&nbsp; Certificates for the Securities
shall be in such denominations ($2,000 or integral multiples of $1,000 in
excess thereof) and registered in such names as the Representatives may request
in writing at least one full business day before Closing Time.&nbsp; The
certificates representing the Securities shall be made available for
examination and packaging by the Initial Purchasers in The City of New York not
later than 10:00 A.M. on the last business day prior to Closing Time.</p>

<p class=ShortOutlineStyle1 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
SECTION 3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Covenants of the Company</u>.&nbsp; The Company covenants with each
Initial Purchaser as follows:</p>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Offering Memorandum</i>.&nbsp; The Company, as promptly as possible, will
furnish to each Initial Purchaser, without charge, such number of copies of the
Offering Memorandum and any amendments and supplements thereto and documents
incorporated by reference therein as such Initial Purchaser may reasonably
request.</p>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Notice and Effect of Material Events</i>.&nbsp; The Company will immediately
notify each Initial Purchaser, and confirm such notice in writing, of (x) any
filing made by the Company of information relating to the offering of the
Securities with any securities exchange or any other regulatory body in the
United States or any other jurisdiction, and (y) prior to the completion of the
placement of the offered Securities by the Initial Purchasers as evidenced by a
notice in writing from the Initial Purchasers to the Company, any material
changes in or affecting the financial condition, earnings, business affairs or
business prospects of the Company and its subsidiaries considered as one
enterprise which (i) make any statement in the Disclosure Package, any Offering
Memorandum or any Supplemental Offering Material false or misleading or (ii)
are not disclosed in the Disclosure Package or the Offering Memorandum.&nbsp; In
such event or if during such time any event shall occur as a result of which it
is necessary, in the reasonable opinion of any of the Company, its counsel, the
Initial Purchasers or counsel for the Initial Purchasers, to amend or
supplement the Offering Memorandum in order that the Offering Memorandum not
include any untrue statement of a material fact or omit to state a material
fact necessary in order to make the statements therein not misleading in the
light of the circumstances then existing, the Company will forthwith amend or
supplement the Offering Memorandum by preparing and furnishing to each Initial
Purchaser an amendment or amendments of, or a supplement or supplements to, the
Offering Memorandum (in form and substance satisfactory in the reasonable
opinion of counsel for the Initial Purchasers) so that, as so amended or
supplemented, the Offering Memorandum will not include an untrue statement of a
material fact or omit to state a material fact necessary in order to make the
statements therein, in the light of the circumstances existing at the time it
is delivered to a Subsequent Purchaser, not misleading.</p>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Amendment and Supplements to the Offering Memorandum; Preparation of
Pricing Supplement; Supplemental Offering Materials</i>.&nbsp; The Company will
advise each Initial Purchaser promptly of any proposal to amend or supplement
the Offering Memorandum and will not effect such amendment or supplement
without the consent of the Initial Purchasers.&nbsp; Neither the consent of the
Initial Purchasers, nor the Initial Purchaser's delivery of any such amendment
or supplement, shall constitute a waiver of any of the conditions set forth in
Section 5 hereof.&nbsp; The Company will prepare the Pricing Supplement, in form and
substance satisfactory to the Representatives, and shall furnish prior to the
Applicable Time to each Initial Purchaser, without charge, as many copies of
the Pricing Supplement as such Initial Purchaser may reasonably request.&nbsp; The
Company represents and agrees that, unless it obtains the prior consent of the
Representatives, it has not made and will not make any offer relating to the
Securities by means of any Supplemental Offering Materials.</p>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Qualification of Securities for Offer and Sale</i>.&nbsp; The Company will
use its best efforts, in cooperation with the Initial Purchasers, to qualify
the offered Securities for offering and sale under the applicable securities
laws of such states and other jurisdictions as the Initial Purchasers may
designate and to maintain such qualifications in effect as long as required for
the sale of the Securities; provided, however, that the Company shall not be
obligated to file any general consent to service of process or to qualify as a
foreign corporation or as a dealer in securities in any jurisdiction in which
it is not so qualified or to subject itself to taxation in respect of doing
business in any jurisdiction in which it is not otherwise so subject.</p>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>DTC</i>.&nbsp; The Company will cooperate with the Initial Purchasers and
use its best efforts to permit the offered Securities to be eligible for
clearance and settlement through the facilities of DTC.</p>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Use of Proceeds</i>.&nbsp; The Company will use the net proceeds received
by it from the sale of the Securities in the manner specified in the Offering
Memorandum under &quot;Use of Proceeds&quot;.</p>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Reporting Requirements</i>.&nbsp; Until the offering of the Securities is
complete, the Company will file all documents required to be filed with the
Commission pursuant to the 1934 Act within the time periods required by the
1934 Act and the 1934 Act Regulations. </p>

<p class=ShortOutlineStyle1 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
SECTION 4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Payment of Expenses</u>.&nbsp; </p>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Expenses</i>.&nbsp; The Company will pay all expenses incident to the
performance of its obligations under this Agreement, including (i) the
preparation, printing, delivery to the Initial Purchasers and any filing of the
Disclosure Package or any Offering Memorandum (including financial statements
and any schedules or exhibits and any document incorporated therein by
reference) and of each amendment or supplement thereto or of any Supplemental
Offering Material, (ii) the preparation, printing and delivery to the Initial
Purchasers of this Agreement, any Agreement among Initial Purchasers, the
Indenture and such other documents as may be required in connection with the offering,
purchase, sale, issuance or delivery of the Securities, (iii) the preparation,
issuance and delivery of the certificates for the Securities to the Initial
Purchasers, including any transfer taxes, any stamp or other duties payable
upon the sale, issuance and delivery of the Securities to the Initial
Purchasers and any charges of DTC in connection therewith, (iv) the fees and
disbursements of the Company's counsel, accountants and other advisors, (v) the
qualification of the Securities under securities laws in accordance with the
provisions of Section 3(d) hereof, including filing fees and the reasonable
fees and disbursements of counsel for the Initial Purchasers in connection
therewith and in connection with the preparation of the Blue Sky Survey, any
supplement thereto, (vi) the fees and expenses of the Trustee, including the
fees and disbursements of counsel for the Trustee in connection with the
Indenture and the Securities, (vii) the costs and expenses of the Company
relating to investor presentations on any &quot;road show&quot; undertaken in connection
with the marketing of the Securities including, without limitation, expenses
associated with the production of road show slides and graphics, fees and
expenses of any consultants engaged in connection with the road show
presentations, travel and lodging expenses of the representatives and officers
of the Company and any such consultants, and the cost of aircraft and other
transportation chartered in connection with the road show and (viii) any fees
payable in connection with the rating of the Securities.</p>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Termination of Agreement</i>.&nbsp; If this Agreement is terminated by the
Representatives in accordance with the provisions of Section 5 or Section
10(a)(i) hereof, the Company shall reimburse the Initial Purchasers for all of
their out-of-pocket expenses, including the reasonable fees and disbursements
of counsel for the Initial Purchasers.</p>

<p class=ShortOutlineStyle1 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
SECTION 5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Conditions of Initial Purchasers' Obligations</u>.&nbsp; The
obligations of the several Initial Purchasers hereunder are subject to the accuracy
of the representations and warranties of the Company contained in Section 1
hereof or in certificates of any officer of the Company or any of its
subsidiaries delivered pursuant to the provisions hereof, to the performance by
the Company of its covenants and other obligations hereunder, and to the
following further conditions:</p>
<p class=ShortOutlineStyle1 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Opinion of Counsel for Company</i>.&nbsp; At Closing Time, the
Representatives shall have received the favorable opinion, dated as of Closing
Time, of William A. Galanko, Esq., Vice President - Law of the Company (or
another senior corporate counsel designated by the Company) in form and
substance satisfactory to counsel for the Initial Purchasers, together with
signed or reproduced copies of such letter for each of the other Initial Purchasers
to the effect set forth in Annex I hereto and to such further effect as counsel
to the Initial Purchasers may reasonably request.</p>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Opinion of Counsel for Initial Purchasers</i>.&nbsp; At Closing Time,
Skadden, Arps, Slate, Meagher &amp; Flom LLP, counsel for the Initial
Purchasers, shall have furnished to the Representatives such opinion or
opinions, dated as of Closing Time, with respect to the incorporation of the
Company, the validity of the Securities being delivered at such Closing Time,
the Offering Memorandum and such related matters as you may reasonably request,
and such counsel shall have received such papers and information as they may
reasonably request to enable them to pass upon such matters.</p>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Officers' Certificate</i>.&nbsp; The Company shall have furnished or
caused to be furnished to the Representatives at Closing Time a certificate or
certificates of officers of the Company satisfactory to the Representatives as
to the accuracy of the representations and warranties of the Company herein at
and as of such Closing Time, as to the performance by the Company of all of its
obligations hereunder to be performed at or prior to such Closing Time, as to
the matters set forth in subsection (h) of this Section and as to such other
matters as the Representatives may reasonably request.</p>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Accountants' Comfort Letter</i>.&nbsp; At the time of the execution of
this Agreement, the independent accountants of the Company, KPMG LLP, who have
certified the financial statements of the Company and its subsidiaries included
or incorporated by reference in the Offering Memorandum shall have furnished to
the Representatives a letter, dated the date hereof, to the effect set forth in
Annex II hereto and as to such other matters as the Representatives may
reasonably request and in form and substance satisfactory to the
Representatives.</p>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Bring-down Comfort Letter</i>.&nbsp; At Closing Time, the Representatives
shall have received from KPMG LLP a letter, dated as of Closing Time, to the
effect that they reaffirm the statements made in the letter furnished pursuant
to subsection (d) of this Section, except that the specified date referred to
shall be a date not more than three business days prior to Closing Time.</p>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Registration Rights Agreement</i>.&nbsp; The Company shall have duly
authorized, executed and delivered the Registration Rights Agreement in a form
and substance satisfactory to the Initial Purchasers and their counsel.</p>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>No Material Adverse Change in Business</i>. &nbsp;Since the date hereof or
since the date as of which information is given in the Offering Memorandum (exclusive
of any amendments or supplements thereto subsequent to the date of this
Agreement), there shall not have been any material adverse change, or any
development involving a prospective material adverse change, in or affecting
the financial position, shareholders' equity or results of operations of the Company
and its subsidiaries considered as one enterprise otherwise than as set forth
or contemplated in the Offering Memorandum and the Disclosure Package, the
effect of which is in the judgment of the Representatives so material and
adverse as to make it impracticable or inadvisable to proceed with the public
offering or the delivery of the Initial Purchasers' Securities on the terms and
in the manner contemplated by this Agreement and the Offering Memorandum.</p>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Maintenance of Rating</i>.&nbsp; Since the date of this Agreement, there
shall not have occurred a downgrading in the rating assigned to the Securities
or any of the Company's other debt securities or preferred stock, if any, by
any &quot;nationally recognized statistical rating agency,&quot; as that term is defined
by the Commission for purposes of Rule 436(g)(2) under the 1933 Act, and no
such securities rating agency shall have publicly announced that it has under
surveillance or review, with possible negative implications, its rating of any
of the Company's debt securities or preferred stock, if any.</p>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<i>Additional Documents</i>.&nbsp; At Closing Time, counsel for the Initial
Purchasers shall have been furnished with such documents and opinions as they
may reasonably require for the purpose of enabling them to pass upon the
issuance and sale of the Securities as herein contemplated, or in order to
evidence the accuracy of any of the representations or warranties, or the
fulfillment of any of the conditions, herein contained; and all proceedings
taken by the Company in connection with the issuance and sale of the Securities
as herein contemplated shall be reasonably satisfactory in form and substance
to the Representatives and counsel for the Initial Purchasers.</p>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Termination of Agreemen</i>t.&nbsp; If any condition specified in this
Section shall not have been fulfilled when and as required to be fulfilled,
this Agreement may be terminated by the Representatives by notice to the
Company at any time at or prior to Closing Time, and such termination shall be
without liability of any party to any other party except as provided in Section
4 and except that Sections 1, 7, 8 and 9 shall survive any such termination and
remain in full force and effect.</p>

<p class=ShortOutlineStyle1 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
SECTION 6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Subsequent Offers and Resales of the Securities</u>. &nbsp;</p>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Offer and Sale Procedures</i>.&nbsp; Each of the Initial Purchasers and
the Company hereby establish and agree to observe the following procedures in
connection with the offer and sale of the Securities:</p>

<blockquote>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
	<u>Offers and Sales</u>.&nbsp; Offers and sales of the Securities shall be
made to such persons and in such manner as is contemplated by the Offering
Memorandum.&nbsp; Each Initial Purchaser severally agrees that it will not offer,
sell or deliver any of the Securities in any jurisdiction outside the United
States except under circumstances that will result in compliance with the
applicable laws thereof, and that it will take at its own expense whatever
action is required to permit its purchase and resale of the Securities in such
jurisdictions.<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
		<u>No General Solicitation</u>.&nbsp; No general solicitation or general
advertising (within the meaning of Rule 502(c) under the 1933 Act) will be used
in the United States in connection with the offering or sale of the Securities.</p>
	<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
		<u>Purchases by Non-Bank Fiduciaries</u>.&nbsp; In the case of a non-bank
Subsequent Purchaser of a Security acting as a fiduciary for one or more third
parties, each third party shall, in the judgment of the applicable Initial
Purchaser, be an Institutional Accredited Investor or a &quot;qualified
institutional buyer&quot; within the meaning of Rule 144A under the 1933 Act (a
&quot;Qualified Institutional Buyer&quot;) or a non-U.S. person outside the United
States.</p>
	<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
		<u>Subsequent Purchaser Notification</u>.&nbsp; Each Initial Purchaser will
take reasonable steps to inform, and cause each of its U.S. Affiliates to take
reasonable steps to inform, persons acquiring Securities from such Initial
Purchaser or affiliate, as the case may be, in the United States that the
Securities (A) have not been and will not be registered under the 1933 Act, (B)
are being sold to them without registration under the 1933 Act in reliance on
Rule 144A or in accordance with another exemption from registration under the
1933 Act, as the case may be, and (C) may not be offered, sold or otherwise
transferred except (1) to the Company, (2) outside the United States in
accordance with Regulation S, or (3) inside the United States in accordance
with (x) Rule 144A to a person whom the seller reasonably believes is a
Qualified Institutional Buyer that is purchasing such Securities for its own
account or for the account of a Qualified Institutional Buyer to whom notice is
given that the offer, sale or transfer is being made in reliance on Rule 144A
or (y) pursuant to another available exemption from registration under the 1933
Act.</p>
	<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
		<u>Minimum Principal Amount</u>.&nbsp; No sale of the Securities to any
	one Subsequent Purchaser will be for less than U.S. $2,000 principal amount
	and no Security will be issued in a smaller principal amount.&nbsp; If a
	Subsequent Purchaser is a non-bank fiduciary acting on behalf of others, each person for
whom it is acting must purchase at least U.S. $2,000 principal amount of the
Securities.</p>
</blockquote>
</blockquote>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Covenants of the Company</i>.&nbsp;
The Company covenants with each Initial Purchaser as follows:</p>
		<blockquote>
			<p class=>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
			<u>Integration</u>.&nbsp; The Company agrees that it will not and will
		cause its Affiliates not to, directly or indirectly, solicit any offer
		to buy, sell or make any offer or sale of, or otherwise negotiate in
		respect of, securities of the Company of any class if, as a result of
		the doctrine of &quot;integration&quot; referred to in Rule 502 under the 1933
		Act, such offer or sale would render invalid (for the purpose of (i) the
		sale of the offered Securities byrs ent Purchasers or (iii) the resale
		of the offered Securities by such Subsequent Purchasers to others) the
		exemption from the registration requirements of the 1933 Act provided by
		Section 4(2) thereof or by Rule 144A or by Regulation S thereunder or
		otherwise.</p>
			<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
			<u>Rule 144A Information</u>.&nbsp; The Company agrees that, in order to
		render the offered Securities eligible for resale pursuant to Rule 144A,
		while any of the offered Securities remain outstanding, it will make
		available, upon request, to any holder of offered Securities or
		prospective purchasers of Securities the information specified in Rule
		144A(d)(4), unless the Company furnishes information to the Commission
		pursuant to Section 13 or 15(d) of the 1934 Act.</p>
			<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
			<u>Restriction on Repurchases</u>.&nbsp; Until the expiration of six
		months after the original issuance of the offered Securities, the
		Company will not, and will cause its Affiliates not to, resell any
		offered Securities which are &quot;restricted securities&quot; (as such term is
		defined under Rule 144(a)(3) under the 1933 Act), whether as beneficial
		owner or otherwise (except as agent acting as a securities broker on
		behalf of and for the account of customers in the ordinary course of
		business in unsolicited broker's transactions).</p>
</blockquote>
</blockquote>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Qualified Institutional Buyer</i>.&nbsp; Each Initial Purchaser severally
and not jointly represents and warrants to, and agrees with, the Company that
it is a Qualified Institutional Buyer and an &quot;accredited investor&quot; within the
meaning of Rule 501(a) under the 1933 Act (an &quot;Accredited Investor&quot;).</p>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Resale Pursuant to Rule 903 of Regulation S or Rule 144A</i>. &nbsp;Each
Initial Purchaser understands that the offered Securities have not been and
will not be registered under the 1933 Act and may not be offered or sold within
the United States or to, or for the account or benefit of, U.S. persons except
in accordance with Regulation S or pursuant to an exemption from the
registration requirements of the 1933 Act.&nbsp; Each Initial Purchaser severally
represents and agrees, that, except as permitted by Section 6(a) above, it has
offered and sold Securities and will offer and sell Securities (i) as part of
their distribution at any time and (ii) otherwise until forty days after the
later of the date upon which the offering of the Securities commences and
Closing Time, only in accordance with Rule 903 of Regulation S, Rule 144A or
another applicable exemption from the registration requirements of the 1933
Act.&nbsp; Accordingly, neither the Initial Purchasers, their affiliates nor any
persons acting on their behalf have engaged or will engage in any directed
selling efforts with respect to Securities sold hereunder pursuant to
Regulation S, and the Initial Purchasers, their affiliates and any person
acting on their behalf have complied and will comply with the offering
restriction requirements of Regulation S.&nbsp; Each Initial Purchaser severally
agrees that, at or prior to confirmation of a sale of offered Securities
pursuant to Regulation S it will have sent to each distributor, dealer or
person receiving a selling concession, fee or other remuneration that purchases
offered Securities from it or through it during the restricted period a
confirmation or notice to substantially the following effect:</p>

<blockquote>
	<blockquote>
		<p class=Quote style='margin-right:110.5pt'>&nbsp;&quot;The Securities covered hereby have
not been registered under the United States Securities Act of 1933 (the
&quot;Securities Act&quot;) and may not be offered or sold within the United States or to
or for the account or benefit of U.S. persons (i) as part of their distribution
at any time and (ii) otherwise until forty days after the later of the date
upon which the offering of the Securities commenced and the date of closing,
except in either case in accordance with Regulation S or Rule 144A under the
Securities Act.&nbsp; Terms used above have the meaning given to them by Regulation
S.&quot; </p>
	</blockquote>
</blockquote>

<p class=SinglePara>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terms used in the above paragraph have the meanings given
to them by Regulation S.</p>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Each Initial Purchaser severally represents and agrees that:</p>

		<blockquote>
			<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; except to the extent permitted under U.S. Treas. Reg. &sect; 1.163
5(c)(2)(i)(D) (the &quot;D Rules&quot;), (x) it has not offered or sold, and during the
restricted period will not offer or sell, offered Securities in bearer form to
a person who is within the United States or its possessions or to a United
States person, and (y) such Initial Purchaser has not delivered and will not
deliver within the United States or its possessions definitive offered
Securities in bearer form that are sold during the restricted period;</p>
			<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; it has, and throughout the restricted period will have, in effect
procedures reasonably designed to ensure that its employees or agents who are
directly engaged in selling offered Securities in bearer form are aware that
such offered Securities may not be offered or sold during the restricted period
to a person who is within the United States or its possessions or to a United
States person, except as permitted by the D Rules;</p>
			<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; if such Initial Purchaser is a United States person, it represents that
it is acquiring the offered Securities in bearer form for purposes of resale in
connection with their original issuance and, if such Initial Purchaser retains offered
Securities in bearer form for its own account, it will only do so in accordance
with the requirements of U.S. Treas. Reg.&nbsp; &sect; 1.163 5(c)(2)(i)(D)(6); and</p>
	<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; with respect to each affiliate (if any) that acquires from such Initial
Purchaser offered Securities in bearer form for the purposes of offering or
selling such offered Securities during the restricted period, such Initial
Purchaser either (A) hereby represents and agrees on behalf of such affiliate
(if any) to the effect set forth in sub-paragraphs (i), (ii) and (iii) of this
paragraph or (B) agrees that it will obtain from such affiliate (if any) for
the benefit of the Company the representations and agreements contained in
sub-paragraphs (i), (ii) and (iii) of this paragraph.</p>
</blockquote>
</blockquote>

<p class=ShortOutlineStyle1 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
SECTION 7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Indemnification</u>.&nbsp; </p>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Indemnification of Initial Purchasers</i>.&nbsp; The Company agrees to
indemnify and hold harmless each Initial Purchaser, its Affiliates, its selling
agents and each person, if any, who controls any Initial Purchaser within the
meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act as follows:</p>

		<blockquote>
			<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; against any and all loss, liability, claim, damage and expense
whatsoever, as incurred, arising out of any untrue statement or alleged untrue
statement of a material fact contained in any Offering Memorandum, the Disclosure
Package, or any Supplemental Offering Materials, or the omission or alleged
omission therefrom of a material fact necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not
misleading;</p>
	<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; against any and all loss, liability, claim, damage and expense
whatsoever, as incurred, to the extent of the aggregate amount paid in
settlement of any litigation, or any investigation or proceeding by any
governmental agency or body, commenced or threatened, or of any claim
whatsoever based upon any such untrue statement or omission, or any such
alleged untrue statement or omission; provided that (subject to Section 7(d)
below) any such settlement is effected with the written consent of the Company;
and</p>
</blockquote>
<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
against any and all expense whatsoever, as incurred (including the fees
and disbursements of counsel chosen by the Representatives), reasonably
incurred in investigating, preparing or defending against any litigation, or
any investigation or proceeding by any governmental agency or body, commenced
or threatened, or any claim whatsoever based upon any such untrue statement or
omission, or any such alleged untrue statement or omission, to the extent that
any such expense is not paid under (i) or (ii) above;</p>
</blockquote>

<p class=SinglePara>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; provided, however, that this indemnity agreement shall not
apply to any loss, liability, claim, damage or expense to the extent arising
out of any such untrue statement or omission or any such alleged untrue
statement or omission made in reliance upon and in conformity with written
information furnished to the Company by any Initial Purchaser through Merrill
Lynch expressly for use in any Offering Memorandum, the Disclosure Package or
in any Supplemental Offering Materials.</p>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Indemnification of Company, Directors and Officers</i>.&nbsp; Each Initial
Purchaser severally agrees to indemnify and hold harmless the Company, its
directors, each of its officers who signed the Offering Memorandum, and each
person, if any, who controls the Company within the meaning of Section 15 of the
1933 Act or Section 20 of the 1934 Act against any and all loss, liability,
claim, damage and expense described in the indemnity contained in subsection
(a) of this Section, as incurred, but only with respect to untrue statements or
omissions, or alleged untrue statements or omissions, made in any Offering Memorandum,
the Disclosure Package or any Supplemental Offering Materials in reliance upon
and in conformity with written information furnished to the Company by such
Initial Purchaser through Merrill Lynch expressly for use therein.</p>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Actions against Parties; Notification</i>.&nbsp; Each indemnified party
shall give notice as promptly as reasonably practicable to each indemnifying
party of any action commenced against it in respect of which indemnity may be
sought hereunder, but failure to so notify an indemnifying party shall not
relieve such indemnifying party from any liability hereunder to the extent it
is not materially prejudiced as a result thereof and in any event shall not
relieve it from any liability which it may have otherwise than on account of
this indemnity agreement.&nbsp; In the event of any such claim, action or
proceeding, if the indemnified party shall notify the indemnifying party of the
commencement thereof, the indemnifying party shall assume the defense thereof,
with counsel reasonably satisfactory to such indemnified party, and shall pay
the fees and expenses of such counsel; provided, however, (i) if the
indemnifying party fails to assume such defense in a timely manner or (ii) if
there exists or may exist a conflict of interest that would make it
inappropriate in the reasonable judgment of such indemnified party for the same
counsel to represent both the indemnified party and the indemnifying party,
then such indemnified party shall be entitled to retain its own counsel at the
reasonable expense of the indemnifying party.&nbsp; In respect of any claim, action
or proceeding the defense of which shall have been assumed by the indemnifying
party, in accordance with the foregoing, each indemnified party shall have the
right to participate in such litigation and to retain its own counsel at its
own expense.&nbsp; In no event shall the indemnifying parties be liable for fees and
expenses of more than one counsel (in addition to any local counsel) separate
from their own counsel for all indemnified parties in connection with any one
action or separate but similar or related actions in the same jurisdiction
arising out of the same general allegations or circumstances.&nbsp; No indemnifying
party shall, without the prior written consent of the indemnified parties,
settle or compromise or consent to the entry of any judgment with respect to
any litigation, or any investigation or proceeding by any governmental agency
or body, commenced or threatened, or any claim whatsoever in respect of which
indemnification or contribution could be sought under this Section or Section 8
hereof (whether or not the indemnified parties are actual or potential parties
thereto), unless such settlement, compromise or consent (i) includes an unconditional
release of each indemnified party from all liability arising out of such
litigation, investigation, proceeding or claim and (ii) does not include a
statement as to or an admission of fault, culpability or a failure to act by or
on behalf of any indemnified party.</p>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Settlement without Consent if Failure to Reimburse</i>.&nbsp; If at any
time an indemnified party shall have requested an indemnifying party to
reimburse the indemnified party for fees and expenses of counsel, such
indemnifying party agrees that it shall be liable for any settlement of the
nature contemplated by Section 7(a)(ii) effected without its written consent if
(i) such settlement is entered into more than 45 days after receipt by such
indemnifying party of the aforesaid request, (ii) such indemnifying party shall
have received notice of the terms of such settlement at least 30 days prior to
such settlement being entered into and (iii) such indemnifying party shall not
have reimbursed such indemnified party in accordance with such request prior to
the date of such settlement.</p>

<p class=ShortOutlineStyle1 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
SECTION 8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Contribution</u>.&nbsp; If the indemnification provided for in
Section 7 hereof is for any reason unavailable to or insufficient to hold
harmless an indemnified party in respect of any losses, liabilities, claims,
damages or expenses referred to therein, then each indemnifying party shall
contribute to the aggregate amount of such losses, liabilities, claims, damages
and expenses incurred by such indemnified party, as incurred, (i) in such
proportion as is appropriate to reflect the relative benefits received by the
Company on the one hand and the Initial Purchasers on the other hand from the
offering of the Securities pursuant to this Agreement or (ii) if the allocation
provided by clause (i) is not permitted by applicable law, in such proportion
as is appropriate to reflect not only the relative benefits referred to in
clause (i) above but also the relative fault of the Company on the one hand and
of the Initial Purchasers on the other hand in connection with the statements
or omissions which resulted in such losses, liabilities, claims, damages or
expenses, as well as any other relevant equitable considerations.</p>

<p class=SinglePara>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The relative benefits received by the Company on the one
hand and the Initial Purchasers on the other hand in connection with the
offering of the Securities pursuant to this Agreement shall be deemed to be in
the same respective proportions as the total net proceeds from the offering of
the Securities pursuant to this Agreement (before deducting expenses) received
by the Company and the total underwriting discount received by the Initial
Purchasers, bear to the aggregate initial offering price of the Securities.</p>

<p class=SinglePara>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The relative fault of the Company on the one hand and the
Initial Purchasers on the other hand shall be determined by reference to, among
other things, whether any such untrue or alleged untrue statement of a material
fact or omission or alleged omission to state a material fact relates to
information supplied by the Company or by the Initial Purchasers and the parties'
relative intent, knowledge, access to information and opportunity to correct or
prevent such statement or omission.</p>

<p class=SinglePara>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company and the Initial Purchasers agree that it would
not be just and equitable if contribution pursuant to this Section were determined
by pro rata allocation (even if the Initial Purchasers were treated as one
entity for such purpose) or by any other method of allocation which does not
take account of the equitable considerations referred to above in this
Section.&nbsp; The aggregate amount of losses, liabilities, claims, damages and
expenses incurred by an indemnified party and referred to above in this Section
shall be deemed to include any legal or other expenses reasonably incurred by
such indemnified party in investigating, preparing or defending against any
litigation, or any investigation or proceeding by any governmental agency or
body, commenced or threatened, or any claim whatsoever based upon any such
untrue or alleged untrue statement or omission or alleged omission.</p>

<p class=SinglePara>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notwithstanding the provisions of this Section, no Initial
Purchaser shall be required to contribute any amount in excess of the amount by
which the total price at which the Securities purchased and sold by it
hereunder exceeds the amount of any damages which such Initial Purchaser has
otherwise been required to pay by reason of such untrue or alleged untrue
statement or omission or alleged omission.</p>

<p class=SinglePara>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No person guilty of fraudulent misrepresentation (within
the meaning of Section 11(f) of the 1933 Act) shall be entitled to contribution
from any person who was not guilty of such fraudulent misrepresentation.</p>

<p class=SinglePara>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For purposes of this Section, each person, if any, who
controls an Initial Purchaser within the meaning of Section 15 of the 1933 Act
or Section 20 of the 1934 Act and each Initial Purchaser's Affiliates and
selling agents shall have the same rights to contribution as such Initial
Purchaser, and each person, if any, who controls the Company within the meaning
of Section 15 of the 1933 Act or Section 20 of the 1934 Act shall have the same
rights to contribution as the Company.&nbsp; The Initial Purchasers' respective
obligations to contribute pursuant to this Section are several in proportion to
the principal amount of Securities set forth opposite their respective names in
Schedule A hereto and not joint.</p>

<p class=ShortOutlineStyle1 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
SECTION 9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Representations, Warranties and Agreements to Survive</u>.&nbsp;
All representations, warranties and agreements contained in this Agreement or
in certificates of officers of the Company or any of its subsidiaries submitted
pursuant hereto shall remain operative and in full force and effect, regardless
of (i) any investigation made by or on behalf of any Initial Purchaser or its
Affiliates or selling agents, any person controlling any Initial Purchaser, its
officers or directors or any person controlling the Company and (ii) delivery
of and payment for the Securities.</p>

<p class=ShortOutlineStyle1 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
SECTION 10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Termination
of Agreement.</u></p>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Termination; General</i>.&nbsp; The Representatives may terminate this
Agreement, by notice to the Company, at any time at or prior to Closing Time
(i) if there has been, since the time of execution of this Agreement or since
the date as of which information is given in the Preliminary Offering
Memorandum, the Disclosure Package or the Final Offering Memorandum (exclusive
of any amendments or supplements thereto subsequent to the date of this
Agreement), any Material Adverse Effect, or (ii) if there has occurred any
material adverse change in the financial markets in the United States or the
international financial markets, any outbreak of hostilities or escalation
thereof or other calamity or crisis or any change or development involving a
prospective change in national or international political, financial or
economic conditions, in each case the effect of which is such as to make it, in
the judgment of the Representatives, impracticable or inadvisable to market the
Securities or to enforce contracts for the sale of the Securities, or (iii) if
trading in any securities of the Company has been suspended or materially
limited by the Commission or the New York Stock Exchange, or if trading
generally on the American Stock Exchange or the New York Stock Exchange or in
the NASDAQ System has been suspended or materially limited, or minimum or
maximum prices for trading have been fixed, or maximum ranges for prices have
been required, by any of said exchanges or by such system or by order of the
Commission, FINRA or any other governmental authority, or (iv) a material
disruption has occurred in commercial banking or securities settlement or
clearance services in the United States, or (v) if a banking moratorium has
been declared by either Federal or New York or Virginia authorities.</p>

<p class=ShortOutlineStyle2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Liabilities</i>.&nbsp; If this Agreement is terminated pursuant to this
Section, such termination shall be without liability of any party to any other
party except as provided in Section 4 hereof, and provided further that
Sections 1, 7, 8 and 9 shall survive such termination and remain in full force
and effect.</p>

<p class=ShortOutlineStyle1 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
SECTION 11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Default
by One or More of the Initial Purchasers</u>.&nbsp; If one or more of the Initial
Purchasers shall fail at Closing Time to purchase the Securities which it or
they are obligated to purchase under this Agreement (the &quot;Defaulted
Securities&quot;), the Representatives shall have the right, within 24 hours
thereafter, to make arrangements for one or more of the non-defaulting Initial
Purchasers, or any other initial purchasers, to purchase all, but not less than
all, of the Defaulted Securities in such amounts as may be agreed upon and upon
the terms herein set forth; if, however, the Representatives shall not have
completed such arrangements within such 24-hour period, then:</p>

<blockquote>
	<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; if the number of Defaulted Securities does not exceed 10% of the
aggregate principal amount of the Securities to be purchased hereunder, each of
the non-defaulting Initial Purchasers shall be obligated, severally and not
jointly, to purchase the full amount thereof in the proportions that their
respective underwriting obligations hereunder bear to the underwriting
obligations of all non-defaulting Initial Purchasers, or</p>
	<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; if the number of Defaulted Securities exceeds 10% of the aggregate
principal amount of the Securities to be purchased hereunder, this Agreement
shall terminate without liability on the part of any non-defaulting Initial
Purchaser.</p>
</blockquote>

<p class=SinglePara>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No action taken pursuant to this Section shall relieve any
defaulting Initial Purchaser from liability in respect of its default.</p>

<p class=SinglePara>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In the event of any such default which does not result in a
termination of this Agreement, either the Representatives or the Company shall
have the right to postpone Closing Time for a period not exceeding seven days
in order to effect any required changes in the Offering Memorandum or in any
other documents or arrangements.&nbsp; As used herein, the term &quot;Initial Purchaser&quot;
includes any person substituted for an Initial Purchaser under this Section.</p>

<p class=ShortOutlineStyle1 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
SECTION 12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Tax
Disclosure</u>.&nbsp; Notwithstanding any other provision of this Agreement,
immediately upon commencement of discussions with respect to the transactions
contemplated hereby, the Company (and each employee, representative or other agent
of the Company) may disclose to any and all persons, without limitation of any
kind, the tax treatment and tax structure of the transactions contemplated by
this Agreement and all materials of any kind (including opinions or other tax
analyses) that are provided to the Company relating to such tax treatment and
tax structure.&nbsp; For purposes of the foregoing, the term &quot;tax treatment&quot; is the
purported or claimed federal income tax treatment of the transactions
contemplated hereby, and the term &quot;tax structure&quot; includes any fact that may be
relevant to understanding the purported or claimed federal income tax treatment
of the transactions contemplated hereby.</p>

<p class=ShortOutlineStyle1 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
SECTION 13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Notices</u>.&nbsp;
All notices and other communications hereunder shall be in writing and shall be
deemed to have been duly given if mailed or transmitted by any standard form of
telecommunication.&nbsp; Notices to the Initial Purchasers shall be directed to the
Representatives at 4 World Financial Center, New York, New York 10080,
attention of Legal Department, notices to the Company shall be directed to it
at Three Commercial Place, Norfolk, Virginia 23510, attention of Vice President
and Treasurer.</p>

<p class=ShortOutlineStyle1 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
SECTION 14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>No
Advisory or Fiduciary Relationship</u>.&nbsp; The Company acknowledges and agrees
that (a) the purchase and sale of the Securities pursuant to this Agreement,
including the determination of the offering price of the Securities and any
related discounts and commissions, is an arm's-length commercial transaction
between the Company, on the one hand, and the several Initial Purchasers, on
the other hand, (b) in connection with the offering contemplated hereby and the
process leading to such transaction each Initial Purchaser is and has been
acting solely as a principal and is not the agent or fiduciary of the Company,
or its stockholders, creditors, employees or any other party, (c) no Initial
Purchaser has assumed or will assume an advisory or fiduciary responsibility in
favor of the Company with respect to the offering contemplated hereby or the
process leading thereto (irrespective of whether such Initial Purchaser has
advised or is currently advising the Company on other matters) and no Initial
Purchaser has any obligation to the Company with respect to the offering
contemplated hereby except the obligations expressly set forth in this
Agreement, (d) the Initial Purchasers and their respective Affiliates may be
engaged in a broad range of transactions that involve interests that differ
from those of each of the Company, and (e) the Initial Purchasers have not
provided any legal, accounting, regulatory or tax advice with respect to the
offering contemplated hereby and the Company has consulted its own legal,
accounting, regulatory and tax advisors to the extent it deemed appropriate. </p>

<p class=ShortOutlineStyle1 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
SECTION 15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Integration</u>.&nbsp;
This Agreement supersedes all prior agreements and understandings (whether
written or oral) between the Company and the Initial Purchasers, or any of
them, with respect to the subject matter hereof. </p>

<p class=ShortOutlineStyle1 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
SECTION 16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Parties</u>.&nbsp;
This Agreement shall inure to the benefit of and be binding upon the Initial
Purchasers and the Company and their respective successors.&nbsp; Nothing expressed
or mentioned in this Agreement is intended or shall be construed to give any
person, firm or corporation, other than the Initial Purchasers and the Company
and their respective successors and the controlling persons and officers and
directors referred to in Sections 7 and 8 and their heirs and legal
representatives, any legal or equitable right, remedy or claim under or in
respect of this Agreement or any provision herein contained.&nbsp; This Agreement
and all conditions and provisions hereof are intended to be for the sole and
exclusive benefit of the Initial Purchasers and the Company and their
respective successors, and said controlling persons and officers and directors
and their heirs and legal representatives, and for the benefit of no other
person, firm or corporation.&nbsp; No purchaser of Securities from any Initial
Purchaser shall be deemed to be a successor by reason merely of such purchase.</p>

<p class=ShortOutlineStyle1 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
SECTION 17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>GOVERNING
LAW</u>.&nbsp; THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF NEW YORK.&nbsp; </p>

<p class=ShortOutlineStyle1 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
SECTION 18.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>TIME</u>.&nbsp;
TIME SHALL BE OF THE ESSENCE OF THIS AGREEMENT.&nbsp; EXCEPT AS OTHERWISE SET FORTH
HEREIN, SPECIFIED TIMES OF DAY REFER TO NEW YORK CITY TIME.</p>

<p class=ShortOutlineStyle1 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
SECTION 19.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Counterparts</u>.&nbsp;
This Agreement may be executed in any number of counterparts, each of which
shall be deemed to be an original, but all such counterparts shall together
constitute one and the same Agreement.</p>

<p class=ShortOutlineStyle1 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
SECTION 20.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Effect
of Headings</u>.&nbsp; The Section headings herein are for convenience only and shall
not affect the construction hereof.</p>

<br clear=all
style='page-break-before:always'>

<p class=SinglePara>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If the foregoing is in accordance with your understanding
of our agreement, please sign and return to the Company a counterpart hereof,
whereupon this instrument, along with all counterparts, will become a binding agreement
between the Initial Purchasers and the Company in accordance with its terms.</p>

<p class=SignatureBlock align="center">Very truly yours,</p>
<p class=SignatureBlock align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NORFOLK SOUTHERN CORPORATION</p>

<p class=SignatureBlock align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
By: <u>&nbsp;&nbsp; /s/ William J. Romig&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name: William J. Romig<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Title: Vice President and Treasurer</p>

<p class=SingleParaFlush>CONFIRMED AND ACCEPTED,<br>
&nbsp; as of the date first above written:</p>

<p class=MsoNormal style='margin-right:7.5pt;line-height:12.0pt; margin-top:0; margin-bottom:0'>MERRILL LYNCH,
PIERCE, FENNER &amp; SMITH</p>

<p class=MsoNormal style='margin-right:7.5pt;line-height:12.0pt; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
INCORPORATED</p>
<p class=MsoNormal style='margin-right:7.5pt;line-height:12.0pt; margin-top:0; margin-bottom:0'>&nbsp;</p>

<p class=MsoNormal style='margin-right:7.5pt;line-height:12.0pt; margin-top:0; margin-bottom:0'>By: <u>&nbsp;&nbsp;/s/
Shawn Cepeda&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></p>

<p class=MsoNormal style='margin-right:7.5pt;line-height:12.0pt; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name:
Shawn Cepeda</p>

<p class=MsoNormal style='margin-right:7.5pt;line-height:12.0pt; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Title:
Managing Director</p>
<p class=MsoNormal style='margin-right:7.5pt;line-height:12.0pt; margin-top:0; margin-bottom:0'>&nbsp;</p>

<p class=MsoNormal style='margin-right:7.5pt;line-height:12.0pt'>BARCLAYS
CAPITAL INC.</p>
<p class=MsoNormal style='margin-right:7.5pt;line-height:12.0pt; margin-top:0; margin-bottom:0'>By: <u>&nbsp;&nbsp;/s/
Pamela Kendall&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></p>

<p class=MsoNormal style='margin-right:7.5pt;line-height:12.0pt; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name:
Pamela Kendall</p>

<p class=MsoNormal style='margin-right:7.5pt;line-height:12.0pt; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Title:
Director</p>
<p class=MsoNormal style='margin-right:7.5pt;line-height:12.0pt; margin-top:0; margin-bottom:0'>&nbsp;</p>

<p class=MsoNormal style='margin-right:7.5pt;line-height:12.0pt'>DEUTSCHE BANK
SECURITIES INC.</p>

<p class=MsoNormal style='margin-right:7.5pt;line-height:12.0pt; margin-top:0; margin-bottom:0'>By: <u>&nbsp;&nbsp;/s/
Scott Flieger&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></p>

<p class=MsoNormal style='margin-right:7.5pt;line-height:12.0pt; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name:
Scott Flieger</p>

<p class=MsoNormal style='margin-right:7.5pt;line-height:12.0pt; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Title:
Managing Director</p>
<p class=MsoNormal style='margin-right:7.5pt;line-height:12.0pt; margin-top:0; margin-bottom:0'>&nbsp;</p>

<p class=MsoNormal style='margin-right:7.5pt;line-height:12.0pt; margin-top:0; margin-bottom:0'>By: <u>&nbsp;&nbsp;/s/
Ryan Montgomery&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></p>

<p class=MsoNormal style='margin-right:7.5pt;line-height:12.0pt; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name:
Ryan Montgomery</p>

<p class=MsoNormal style='margin-right:7.5pt;line-height:12.0pt; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Title:
Director</p>
<p class=MsoNormal style='margin-right:7.5pt;line-height:12.0pt; margin-top:0; margin-bottom:0'>&nbsp;</p>

<p class=SinglePara>For themselves and as Representatives of the other Initial
Purchasers named in Schedule A hereto.</p>

<p align="center">

<br clear=all
style='page-break-before:always'>

SCHEDULE A</p>
</p>

<div align=center>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0
 style='border-collapse:collapse'>
 <tr>
  <td width=484 valign=top style='width:362.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <div style='border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in'>
  <p class=MsoNormal align=center style='text-align:center;border:none;
  padding:0in'><b>&nbsp;</b></p>
  <p class=MsoNormal align=center style='text-align:center;border:none;
  padding:0in'><b>Name of Initial Purchaser</b></p>
  </div>
  </td>
  <td width=147 valign=top style='width:110.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <div style='border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in'>
  <p class=MsoNormal align=center style='text-align:center;border:none;
  padding:0in'><b>Principal Amount of Securities</b></p>
  </div>
  </td>
 </tr>
 <tr>
  <td width=484 valign=top style='width:362.9pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
  <td width=147 valign=top style='width:110.5pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
 </tr>
 <tr>
  <td width=484 valign=top style='width:362.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal style='margin-left:63.0pt;text-indent:-63.0pt'>Merrill
  Lynch, Pierce, Fenner &amp; Smith<br>
  Incorporated .......................................................................... </p>
  </td>
  <td width=147 valign=top style='width:110.5pt;padding:0in 5.4pt 0in 5.4pt'>

  <p class=MsoNormal align=right style='text-align:right'>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 170,000,000</p>
  </td>
 </tr>
 <tr>
  <td width=484 valign=top style='width:362.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>Barclays Capital Inc...................................................................................... </p>
  </td>
  <td width=147 valign=top style='width:110.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=right style='text-align:right'>170,000,000</p>
  </td>
 </tr>
 <tr>
  <td width=484 valign=top style='width:362.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>Deutsche Bank Securities Inc........................................................................ </p>
  </td>
  <td width=147 valign=top style='width:110.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=right style='text-align:right'>170,000,000</p>
  </td>
 </tr>
 <tr>
  <td width=484 valign=top style='width:362.9pt;padding:0in 5.4pt 0in 5.4pt'>
  Mitsubishi UFJ Securities International plc</td>
  <td width=147 valign=top style='width:110.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p align="right">30,000,000</td>
 </tr>
 <tr>
  <td width=484 valign=top style='width:362.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>PNC Capital Markets LLC.......................................................................... </p>
  </td>
  <td width=147 valign=top style='width:110.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=right style='text-align:right'>30,000,000</p>
  </td>
 </tr>
 <tr>
  <td width=484 valign=top style='width:362.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>SunTrust Robinson Humphrey, Inc. .............................................................. </p>
  </td>
  <td width=147 valign=top style='width:110.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <div style='border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in'>
  <p class=MsoNormal align=right style='text-align:right;border:none;
  padding:0in'>30,000,000</p>
  </div>
  </td>
 </tr>
 <tr>
  <td width=484 valign=top style='width:362.9pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
  <td width=147 valign=top style='width:110.5pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
 </tr>
 <tr>
  <td width=484 valign=top style='width:362.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>Total............................................................................................................ </p>
  </td>
  <td width=147 valign=top style='width:110.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align="right">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 600,000,000</p>
  </td>
 </tr>
</table>

</div>

<br clear=all
style='page-break-before:always'>

<p class=MsoNormal align=center style='text-align:center'>SCHEDULE B<br>
<br>
  NORFOLK SOUTHERN CORPORATION</p>

<p class=MsoNormal align=center style='text-align:center'>$600,000,000</p>

<p class=MsoNormal align=center style='text-align:center'>5.750% Senior Notes
due 2018</p>

<p class=BodyFirstLine5>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The initial public offering price of the
Securities shall be 99.723% of the principal amount thereof, plus accrued
interest, if any, from the date of issuance.</p>

<p class=BodyFirstLine5>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The purchase price to be paid by the Initial
Purchasers for the Securities shall be 99.073% of the principal amount thereof.</p>

<br clear=all
style='page-break-before:always'>

<p class=Heading align="center">SCHEDULE C<br>
<br>
Pricing Supplement</p>

<br clear=all
style='page-break-before:always'>

<p class=CenText align="center"><b>Pricing Term Sheet</b></p>

<p class=CenText align="center">April 1, 2008</p>

<table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0
 style='width:668px;margin-left:50.pt;border-collapse:collapse;border:
 medium none; '>
 <tr>
  <td width=210 valign=top style='width:157.5pt;border:solid silver 1.0pt;
  padding:0in 0in 0in 0in'>
  <p class=MsoBlockText style='margin-top:0in;margin-right:22.5pt;margin-bottom:
  0in;margin-left:6.
  ..0pt;margin-bottom:.0001pt'>&nbsp; Insurer:</p>
  </td>
  <td valign=top style='border-right:1.0pt solid silver; border-top:1.0pt solid silver; border-bottom:1.0pt solid silver; width:456px;border-left:medium none;padding:0in; '>
  <p class=MsoBlockText style='margin-top:0in;margin-right:1.0in;margin-bottom:
  0in;margin-left:10.5pt;margin-bottom:.0001pt'>Norfolk Southern Corporation</p>
  </td>
 </tr>
 <tr>
  <td width=210 valign=top style='width:157.5pt;border:solid silver 1.0pt;
  border-top:none;padding:0in 0in 0in 0in'>
  <p class=MsoBlockText style='margin-top:0in;margin-right:22.5pt;margin-bottom:
  0in;margin-left:6.0pt;margin-bottom:.0001pt'>Format:</p>
  </td>
  <td valign=top style='width:456px;border-top:medium none;border-left:
  medium none;border-bottom:1.0pt solid silver;border-right:1.0pt solid silver;
  padding:0in; '>
  <p class=MsoBlockText style='margin-top:0in;margin-right:1.0in;margin-bottom:
  0in;margin-left:10.5pt;margin-bottom:.0001pt'>Rule
  144A with Registration Rights</p>
  </td>
 </tr>
 <tr>
  <td width=210 valign=top style='width:157.5pt;border:solid silver 1.0pt;
  border-top:none;padding:0in 0in 0in 0in'>
  <p class=MsoBlockText style='margin-top:0in;margin-right:22.5pt;margin-bottom:
  0in;margin-left:6.0pt;margin-bottom:.0001pt'>Rating:</p>
  </td>
  <td valign=top style='width:456px;border-top:medium none;border-left:
  medium none;border-bottom:1.0pt solid silver;border-right:1.0pt solid silver;
  padding:0in; '>
  <p class=MsoBlockText style='margin-top:0in;margin-right:1.0in;margin-bottom:
  0in;margin-left:10.5pt;margin-bottom:.0001pt'>Baa1 (stable) / BBB+ (stable) /
  BBB+ (stable)</p>
  </td>
 </tr>
 <tr>
  <td width=210 valign=top style='width:157.5pt;border:solid silver 1.0pt;
  border-top:none;padding:0in 0in 0in 0in'>
  <p class=MsoBlockText style='margin-top:0in;margin-right:22.5pt;margin-bottom:
  0in;margin-left:6.0pt;margin-bottom:.0001pt'>Ranking:</p>
  </td>
  <td valign=top style='width:456px;border-top:medium none;border-left:
  medium none;border-bottom:1.0pt solid silver;border-right:1.0pt solid silver;
  padding:0in; '>
  <p class=MsoBlockText style='margin-top:0in;margin-right:1.0in;margin-bottom:
  0in;margin-left:10.5pt;margin-bottom:.0001pt'>Senior</p>
  </td>
 </tr>
 <tr>
  <td width=210 valign=top style='width:157.5pt;border:solid silver 1.0pt;
  border-top:none;padding:0in 0in 0in 0in'>
  <p class=MsoBlockText style='margin-top:0in;margin-right:22.5pt;margin-bottom:
  0in;margin-left:6.0pt;margin-bottom:.0001pt'>Denominations:</p>
  </td>
  <td valign=top style='width:456px;border-top:medium none;border-left:
  medium none;border-bottom:1.0pt solid silver;border-right:1.0pt solid silver;
  padding:0in; '>
  <p class=MsoBlockText style='margin-top:0in;margin-right:1.0in;margin-bottom:
  0in;margin-left:10.5pt;margin-bottom:.0001pt'>U.S.
  $2,000 and integral multiples of U.S. $1,000 in excess thereof</p>
  </td>
 </tr>
 <tr>
  <td width=210 valign=top style='width:157.5pt;border:solid silver 1.0pt;
  border-top:none;padding:0in 0in 0in 0in'>
  <p class=MsoBlockText style='margin-top:0in;margin-right:22.5pt;margin-bottom:
  0in;margin-left:6.0pt;margin-bottom:.0001pt'>Trade
  Date:</p>
  </td>
  <td valign=top style='width:456px;border-top:medium none;border-left:
  medium none;border-bottom:1.0pt solid silver;border-right:1.0pt solid silver;
  padding:0in; '>
  <p class=MsoBlockText style='margin-top:0in;margin-right:1.0in;margin-bottom:
  0in;margin-left:10.5pt;margin-bottom:.0001pt'>April 1, 2008</p>
  </td>
 </tr>
 <tr>
  <td width=210 valign=top style='width:157.5pt;border:solid silver 1.0pt;
  border-top:none;padding:0in 0in 0in 0in'>
  <p class=MsoBlockText style='margin-top:0in;margin-right:22.5pt;margin-bottom:
  0in;margin-left:6.0pt;margin-bottom:.0001pt'>Settlement
  Date:</p>
  </td>
  <td valign=top style='width:456px;border-top:medium none;border-left:
  medium none;border-bottom:1.0pt solid silver;border-right:1.0pt solid silver;
  padding:0in; '>
  <p class=MsoBlockText style='margin-top:0in;margin-right:1.0in;margin-bottom:
  0in;margin-left:10.5pt;margin-bottom:.0001pt'>April 4, 2008
  (T+ 3)</p>
  </td>
 </tr>
 <tr>
  <td width=210 valign=top style='width:157.5pt;border:solid silver 1.0pt;
  border-top:none;padding:0in 0in 0in 0in'>
  <p class=MsoBlockText align=left style='margin-top:0in;margin-right:22.5pt;
  margin-bottom:0in;margin-left:6.0pt;margin-bottom:.0001pt;text-align:left'>Joint Lead Managers:</p>
  </td>
  <td valign=top style='width:456px;border-top:medium none;border-left:
  medium none;border-bottom:1.0pt solid silver;border-right:1.0pt solid silver;
  padding:0in; '>
  <p class=MsoBlockText style='margin-top:0in;margin-right:1.0in;margin-bottom:
  0in;margin-left:10.5pt;margin-bottom:.0001pt'>Barclays
  Capital Inc.</p>
  <p class=MsoBlockText style='margin-top:0in;margin-right:1.0in;margin-bottom:
  0in;margin-left:10.5pt;margin-bottom:.0001pt'>Deutsche Bank
  Securities Inc.</p>
  <p class=MsoBlockText style='margin-top:0in;margin-right:1.0in;margin-bottom:
  0in;margin-left:10.5pt;margin-bottom:.0001pt'>Merrill Lynch,
  Pierce, Fenner &amp; Smith </p>
  <p class=MsoBlockText style='margin-top:0in;margin-right:1.0in;margin-bottom:
  0in;margin-left:10.5pt;margin-bottom:.0001pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  Incorporated</p>
  </td>
 </tr>
 <tr>
  <td width=210 valign=top style='width:157.5pt;border:solid silver 1.0pt;
  border-top:none;padding:0in 0in 0in 0in'>
  <p class=MsoBlockText style='margin-top:0in;margin-right:22.5pt;margin-bottom:
  0in;margin-left:6.0pt;margin-bottom:.0001pt'>Co-Managers:</p>
  </td>
  <td valign=top style='width:456px;border-top:medium none;border-left:
  medium none;border-bottom:1.0pt solid silver;border-right:1.0pt solid silver;
  padding:0in; '>
  <p class=MsoBlockText style='margin-top:0in;margin-right:1.0in;margin-bottom:
  0in;margin-left:10.5pt;margin-bottom:.0001pt'>Mitsubishi UFJ
  Securities International plc </p>
  <p class=MsoBlockText style='margin-top:0in;margin-right:1.0in;margin-bottom:
  0in;margin-left:10.5pt;margin-bottom:.0001pt'>PNC Capital
  Markets LLC</p>
  <p class=MsoBlockText style='margin-top:0in;margin-right:1.0in;margin-bottom:
  0in;margin-left:10.5pt;margin-bottom:.0001pt'>SunTrust
  Robinson Humphrey, Inc.</p>
  </td>
 </tr>
 <tr>
  <td width=210 valign=top style='width:157.5pt;border:solid silver 1.0pt;
  border-top:none;padding:0in 0in 0in 0in'>

  </td>
  <td valign=top style='width:456px;border-top:medium none;border-left:
  medium none;border-bottom:1.0pt solid silver;border-right:1.0pt solid silver;
  padding:0in; '>

  </td>
 </tr>
 <tr>
  <td width=210 valign=top style='width:157.5pt;border:solid silver 1.0pt;
  border-top:none;padding:0in 0in 0in 0in'>
  <p class=MsoBlockText style='margin-top:0in;margin-right:22.5pt;margin-bottom:
  0in;margin-left:6.0pt;margin-bottom:.0001pt'>2018
  Notes:</p>
  </td>
  <td valign=top style='width:456px;border-top:medium none;border-left:
  medium none;border-bottom:1.0pt solid silver;border-right:1.0pt solid silver;
  padding:0in; '>

  </td>
 </tr>
 <tr>
  <td width=210 valign=top style='width:157.5pt;border:solid silver 1.0pt;
  border-top:none;padding:0in 0in 0in 0in'>
  <p class=MsoBlockText style='margin-top:0in;margin-right:22.5pt;margin-bottom:
  0in;margin-left:6.0pt;margin-bottom:.0001pt'>Principal
  Amount:</p>
  </td>
  <td valign=top style='width:456px;border-top:medium none;border-left:
  medium none;border-bottom:1.0pt solid silver;border-right:1.0pt solid silver;
  padding:0in; '>
  <p class=MsoBlockText style='margin-top:0in;margin-right:1.0in;margin-bottom:
  0in;margin-left:10.5pt;margin-bottom:.0001pt'>U.S.$600,000,000</p>
  </td>
 </tr>
 <tr>
  <td width=210 valign=top style='width:157.5pt;border:solid silver 1.0pt;
  border-top:none;padding:0in 0in 0in 0in'>
  <p class=MsoBlockText style='margin-top:0in;margin-right:22.5pt;margin-bottom:
  0in;margin-left:6.0pt;margin-bottom:.0001pt'>Maturity
  Date:</p>
  </td>
  <td valign=top style='width:456px;border-top:medium none;border-left:
  medium none;border-bottom:1.0pt solid silver;border-right:1.0pt solid silver;
  padding:0in; '>
  <p class=MsoBlockText style='margin-top:0in;margin-right:1.0in;margin-bottom:
  0in;margin-left:10.5pt;margin-bottom:.0001pt'>April
  1, 2018</p>
  </td>
 </tr>
 <tr>
  <td width=210 valign=top style='width:157.5pt;border:solid silver 1.0pt;
  border-top:none;padding:0in 0in 0in 0in'>
  <p class=MsoBlockText style='margin-top:0in;margin-right:22.5pt;margin-bottom:
  0in;margin-left:6.0pt;margin-bottom:.0001pt'>Public
  Offering Price:</p>
  </td>
  <td valign=top style='width:456px;border-top:medium none;border-left:
  medium none;border-bottom:1.0pt solid silver;border-right:1.0pt solid silver;
  padding:0in; '>
  <p class=MsoBlockText style='margin-top:0in;margin-right:1.0in;margin-bottom:
  0in;margin-left:10.5pt;margin-bottom:.0001pt'>99.723
  %</p>
  </td>
 </tr>
 <tr>
  <td width=210 valign=top style='width:157.5pt;border:solid silver 1.0pt;
  border-top:none;padding:0in 0in 0in 0in'>
  <p class=MsoBlockText align=left style='margin-top:0in;margin-right:22.5pt;
  margin-bottom:0in;margin-left:6.0pt;margin-bottom:.0001pt;text-align:left'>Yield to Maturity:</p>
  </td>
  <td valign=top style='width:456px;border-top:medium none;border-left:
  medium none;border-bottom:1.0pt solid silver;border-right:1.0pt solid silver;
  padding:0in; '>
  <p class=MsoBlockText style='margin-top:0in;margin-right:1.0in;margin-bottom:
  0in;margin-left:10.5pt;margin-bottom:.0001pt'>5.787%</p>
  </td>
 </tr>
 <tr>
  <td width=210 valign=top style='width:157.5pt;border:solid silver 1.0pt;
  border-top:none;padding:0in 0in 0in 0in'>
  <p class=MsoBlockText style='margin-top:0in;margin-right:22.5pt;margin-bottom:
  0in;margin-left:6.0pt;margin-bottom:.0001pt'>Spread:</p>
  </td>
  <td valign=top style='width:456px;border-top:medium none;border-left:
  medium none;border-bottom:1.0pt solid silver;border-right:1.0pt solid silver;
  padding:0in; '>
  <p class=MsoBlockText style='margin-top:0in;margin-right:1.0in;margin-bottom:
  0in;margin-left:10.5pt;margin-bottom:.0001pt'>+225
  basis points</p>
  </td>
 </tr>
 <tr>
  <td width=210 valign=top style='width:157.5pt;border:solid silver 1.0pt;
  border-top:none;padding:0in 0in 0in 0in'>
  <p class=MsoBlockText style='margin-top:0in;margin-right:22.5pt;margin-bottom:
  0in;margin-left:6.0pt;margin-bottom:.0001pt'>Benchmark
  Treasury:</p>
  </td>
  <td valign=top style='width:456px;border-top:medium none;border-left:
  medium none;border-bottom:1.0pt solid silver;border-right:1.0pt solid silver;
  padding:0in; '>
  <p class=MsoBlockText style='margin-top:0in;margin-right:1.0in;margin-bottom:
  0in;margin-left:10.5pt;margin-bottom:.0001pt'>T
  3.5% due February 2018</p>
  </td>
 </tr>
 <tr>
  <td width=210 valign=top style='width:157.5pt;border:solid silver 1.0pt;
  border-top:none;padding:0in 0in 0in 0in'>
  <p class=MsoBlockText style='margin-top:0in;margin-right:22.5pt;margin-bottom:
  0in;margin-left:6.0pt;margin-bottom:.0001pt'>Treasury
  Yield/Price:</p>
  </td>
  <td valign=top style='width:456px;border-top:medium none;border-left:
  medium none;border-bottom:1.0pt solid silver;border-right:1.0pt solid silver;
  padding:0in; '>
  <p class=MsoBlockText style='margin-top:0in;margin-right:1.0in;margin-bottom:
  0in;margin-left:10.5pt;margin-bottom:.0001pt'>3.537%
  / 99-22&nbsp; </p>
  </td>
 </tr>
 <tr>
  <td width=210 valign=top style='width:157.5pt;border:solid silver 1.0pt;
  border-top:none;padding:0in 0in 0in 0in'>
  <p class=MsoBlockText style='margin-top:0in;margin-right:22.5pt;margin-bottom:
  0in;margin-left:6.0pt;margin-bottom:.0001pt'>Coupon:</p>
  </td>
  <td valign=top style='width:456px;border-top:medium none;border-left:
  medium none;border-bottom:1.0pt solid silver;border-right:1.0pt solid silver;
  padding:0in; '>
  <p class=MsoBlockText style='margin-top:0in;margin-right:1.0in;margin-bottom:
  0in;margin-left:10.5pt;margin-bottom:.0001pt'>5.750%</p>
  </td>
 </tr>
 <tr>
  <td width=210 valign=top style='width:157.5pt;border:solid silver 1.0pt;
  border-top:none;padding:0in 0in 0in 0in'>
  <p class=MsoBlockText style='margin-top:0in;margin-right:22.5pt;margin-bottom:
  0in;margin-left:6.0pt;margin-bottom:.0001pt'>Interest
  Payment Dates:</p>
  </td>
  <td valign=top style='width:456px;border-top:medium none;border-left:
  medium none;border-bottom:1.0pt solid silver;border-right:1.0pt solid silver;
  padding:0in; '>
  <p class=MsoBlockText style='margin-top:0in;margin-right:1.0in;margin-bottom:
  0in;margin-left:10.5pt;margin-bottom:.0001pt'>April
  1 and October 1 commencing October 1, 2008&nbsp;&nbsp;&nbsp; </p>
  </td>
 </tr>
 <tr>
  <td width=210 valign=top style='width:157.5pt;border:solid silver 1.0pt;
  border-top:none;padding:0in 0in 0in 0in'>
  <p class=MsoBlockText style='margin-top:0in;margin-right:22.5pt;margin-bottom:
  0in;margin-left:6.0pt;margin-bottom:.0001pt'>Redemption
  Provisions:</p>
  </td>
  <td valign=top style='width:456px;border-top:medium none;border-left:
  medium none;border-bottom:1.0pt solid silver;border-right:1.0pt solid silver;
  padding:0in; '>

  </td>
 </tr>
 <tr>
  <td width=210 valign=top style='width:157.5pt;border:solid silver 1.0pt;
  border-top:none;padding:0in 0in 0in 0in'>
  <p class=MsoBlockText style='margin-top:0in;margin-right:22.5pt;margin-bottom:
  0in;margin-left:6.0pt;margin-bottom:.0001pt;text-indent:30.0pt'>Make Whole Call:</p>
  </td>
  <td valign=top style='width:456px;border-top:medium none;border-left:
  medium none;border-bottom:1.0pt solid silver;border-right:1.0pt solid silver;
  padding:0in; '>
  <p class=MsoBlockText style='margin-top:0in;margin-right:1.0in;margin-bottom:
  0in;margin-left:10.5pt;margin-bottom:.0001pt'>Any
  time at the greater of 100% or the make-whole amount at a discount rate equal
  to Treasury Rate +35 basis points</p>
  </td>
 </tr>
 <tr>
  <td width=210 valign=top style='width:157.5pt;border:solid silver 1.0pt;
  border-top:none;padding:0in 0in 0in 0in'>
  <p class=MsoBlockText style='margin-top:0in;margin-right:22.5pt;margin-bottom:
  0in;margin-left:6.0pt;margin-bottom:.0001pt;text-indent:30.0pt'>Change of Control:</p>
  </td>
  <td valign=top style='width:456px;border-top:medium none;border-left:
  medium none;border-bottom:1.0pt solid silver;border-right:1.0pt solid silver;
  padding:0in; '>
  <p class=MsoNormal style='margin-left:10.5pt;text-autospace:none'>Upon the occurrence of a Change of Control Repurchase
  Event, we will be required to make an offer to purchase the Notes at a price
  equal to 101% of their principal amount plus accrued and unpaid interest to
  the date of repurchase.</p>
  </td>
 </tr>
 <tr>
  <td width=210 valign=top style='width:157.5pt;border:solid silver 1.0pt;
  border-top:none;padding:0in 0in 0in 0in'>
  <p class=MsoBlockText style='margin-top:0in;margin-right:22.5pt;margin-bottom:
  0in;margin-left:6.0pt;margin-bottom:.0001pt'><a name="_DV_C56">144A CUSIP#/ISIN#:</a></p>
  </td>
  <td valign=top style='width:456px;border-top:medium none;border-left:
  medium none;border-bottom:1.0pt solid silver;border-right:1.0pt solid silver;
  padding:0in; '>
  <p class=MsoBlockText style='margin-top:0in;margin-right:1.0in;margin-bottom:
  0in;margin-left:10.5pt;margin-bottom:.0001pt'>655844
  AY4 /&nbsp; US655844AY43</p>
  </td>
 </tr>
 <tr>
  <td width=210 valign=top style='width:157.5pt;border:solid silver 1.0pt;
  border-top:none;padding:0in 0in 0in 0in'>
  <p class=MsoBlockText style='margin-top:0in;margin-right:22.5pt;margin-bottom:
  0in;margin-left:6.0pt;margin-bottom:.0001pt'>Reg S
  CUSIP#/ISIN#:</p>
  </td>
  <td valign=top style='width:456px;border-top:medium none;border-left:
  medium none;border-bottom:1.0pt solid silver;border-right:1.0pt solid silver;
  padding:0in; '>
  <p class=MsoBlockText style='margin-top:0in;margin-right:1.0in;margin-bottom:
  0in;margin-left:10.5pt;margin-bottom:.0001pt'>U65584
  AA9 / USU65584AA99</p>
  </td>
 </tr>
 <tr>
  <td colspan=2 valign=top style='border-left:1.0pt solid silver; border-right:1.0pt solid silver; border-bottom:1.0pt solid silver; width:666px;border-top:medium none;padding:0in; '>

  <p class=MsoBlockText style='margin-top:0in;margin-right:.25in;margin-bottom:
  6.0pt;margin-left:.25in'><b>This communication
  is intended for the sole use of the person to whom it is provided by us.</b></p>
  <p class=MsoBlockText style='margin-top:0in;margin-right:.25in;margin-bottom:
  6.0pt;margin-left:.25in'><b>Norfolk</b><b> Southern Corporation has prepared a preliminary
  offering memorandum, dated&nbsp;April 1, 2008 (the &quot;Preliminary Offering Memorandum&quot;), to which this communication relates.&nbsp; Before you
  invest, you should read the Preliminary Offering Memorandum for more
  information concerning Norfolk Southern Corporation and the Notes.&nbsp; Terms not
  otherwise defined herein shall have the meanings ascribed to them in the
  Preliminary Offering Memorandum.</b></p>
  <p class=MsoBlockText style='margin-top:0in;margin-right:.25in;margin-bottom:
  6.0pt;margin-left:.25in'><b>The Notes have not
  been registered under the U.S. Securities Act of 1933, as amended (the
  &quot;Securities Act&quot;).&nbsp; The Notes may not be offered or sold within the
  United States or to U.S. persons, except to qualified institutional buyers in
  reliance on the exemption from registration provided by Rule 144A under the
  Securities Act (&quot;Rule 144A&quot;) and to certain persons in transactions
  outside the United States in reliance on Regulation S under the Securities
  Act (&quot;Regulation S&quot;).&nbsp; Prospective purchasers are hereby notified
  that the seller of the Notes may be relying on the exemption from the
  provisions of Section 5 of the Securities Act provided by Rule 144A.</b></p>
  </td>
 </tr>
</table>

<br clear=all
style='page-break-before:always'>

<p class=HeadingRightTitle align="right"><b>Annex I</b></p>

<p class=HeadingCenter align="center">FORM OF OPINION OF COMPANY'S COUNSEL<br>
TO BE DELIVERED PURSUANT TO<br>
SECTION 5(a)</p>

<blockquote>
	<blockquote>
		<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company has been duly incorporated and is validly existing as a
corporation in good standing under the laws of the Commonwealth of Virginia,
with corporate power and authority to own its properties and conduct its
business as described in the Offering Memorandum and the Company has been duly
qualified as a foreign corporation for the transaction of business and is in
good standing under the laws of each other jurisdiction in which the conduct of
its business or the ownership of its property requires such qualification,
except where the failure to so qualify or to be in good standing would not
result in a Material Adverse Effect.</p>
		<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To the best of such counsel's knowledge there are no legal or
governmental proceedings pending to which the Company or any of its
subsidiaries is a party or of which any property of the Company or any of its
subsidiaries is the subject which would be required to be described in the
Offering Memorandum were the Offering Memorandum a registration statement under
the 1933 Act which is not so described in the Offering Memorandum or the
General Disclosure Package; to the best of such counsel's knowledge, no such
proceedings are threatened or contemplated by governmental authorities or
threatened by others;</p>
		<p style="margin-top: 0; margin-bottom: 0">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; This Agreement with respect to the Securities has been duly authorized,
executed and delivered by the Company.</p>
		<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The issuance and sale of the Securities have been duly authorized by the
Company; the Initial Purchasers' Securities have been duly executed, issued and
delivered by the Company and when authenticated in accordance with the terms of
the Indenture and paid for by the Initial Purchasers in accordance with the
terms of this Agreement, will be valid and binding obligations of the Company
enforceable in accordance with their terms and entitled to the benefits of the
Indenture, except (a) to the extent that enforcement thereof may be limited by
(i) bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer or
other similar laws now or hereafter in effect relating to creditors' rights
generally and (ii) general principles of equity (regardless of whether enforceability
is considered in a proceeding at law or in equity) and (b) that such counsel
expresses no opinion as to Section 6.12 of the Indenture.</p>
		<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The issuance and sale of the Exchange Notes, which are to be offering in
exchange for the Securities in an Exchange Offer (as defined in the
Registration Rights Agreement) have been duly authorized by the Company, and,
when executed, issued and delivered by the Company in exchange for the
Securities in accordance with the terms of the Exchange Offer and authenticated
in accordance with the terms of the Indenture, the Exchange Notes will be valid
and binding obligations of the Company enforceable in accordance with their
terms and entitled to the benefits of the Indenture, except (a) to the extent
that enforcement thereof may be limited by (i) bankruptcy, insolvency,
reorganization, moratorium, fraudulent transfer or other similar laws now or
hereafter in effect relating to creditors' rights generally and (ii) general
principles of equity (regardless of whether enforceability is considered in a
proceeding at law or in equity) and (b) that I express no opinion as to Section
6.12 of the Indenture.</p>
		<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Assuming (i) the due performance by the Company of the covenants and
agreements set forth in Sections 3 and 6 of the Purchase Agreement and the due
performance by you of the covenants and agreements set forth in Section 6 of the
Purchase Agreement, and (ii) your compliance with the offering and transfer
procedures and restrictions described in the Offering Memorandum, it is not
necessary in connection with the offer, sale and delivery of the Securities to
the Initial Purchasers and to each Subsequent Purchaser in the manner
contemplated by the Purchase Agreement and the Offering Memorandum to register
the Securities under the 1933 Act or to qualify the Indenture under the Trust
Indenture Act.</p>
		<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Indenture applicable to the Securities has been duly authorized,
executed and delivered by the Company and (assuming the due authorization,
execution and delivery thereof by the Trustee) is a valid and binding agreement
of the Company, enforceable against the Company in accordance with its terms,
except (a) to the extent that enforcement thereof may be limited by (i)
bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer or
other similar laws now or hereafter in effect relating to creditors' rights
generally and (ii) general principles of equity (regardless of whether
enforceability is considered in a proceeding at law or in equity) and (b) that
such counsel expresses no opinion as to Section 6.12 of the Indenture.</p>
		<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (viii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The issuance and sale of the Securities and the compliance by the
Company with all of the provisions of the Securities, the Indenture, this
Agreement with respect to the Securities and the consummation of the transactions
herein contemplated will not conflict with or result in a breach of any of the
terms or provisions of, or constitute a default under, or result in the
creation or imposition of any lien, charge or encumbrance upon any of the
property or assets of the Company or NSR pursuant to the terms of, any
indenture, mortgage, deed of trust, loan agreement or other agreement or
instrument known to such counsel to which the Company or NSR is a party or by
which the Company or NSR is bound or to which any of the property or assets of
the Company or NSR is subject, other than those conflicts, breaches or defaults
that would not have a Material Adverse Effect, nor will such actions result in
any violation of the provisions of the Restated Articles of Incorporation or
Bylaws of the Company or any statute or any order, rule or regulation known to
such counsel of any court or governmental agency or body having jurisdiction
over the Company or NSR or any of their properties, other than those violations
that would not have a Material Adverse Effect, except that counsel expresses no
opinion with respect to the State securities or Blue Sky laws or the laws of
any foreign jurisdiction or with respect to the rights to indemnity and
contribution under the Purchase Agreement.</p>
		<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ix)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No consent, approval, authorization, order, registration or
qualification of or with any such court or governmental agency or body is
required for the issue and sale of the Securities or the consummation by the
Company of the transactions contemplated by or for the due execution, delivery
or performance of this Agreement, the Indenture or the Registration Rights
Agreement, the Securities, the Exchange Notes and any other agreement or
instrument contemplated herein and in the Offering Memorandum, other than (i)
registration under the 1933 Act of the Exchange Notes (including filings with
FINRA), upon consummation of the Exchange Offer, (ii) qualification of the
Indenture under the Trustee Indenture Act, upon consummation of the Exchange
Offer and (iii) registration or qualification under state securities or Blue
Sky laws in connection with the offer and sale of the Securities and Exchange
Notes.</p>
		<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The statements set forth in the Offering Memorandum under the caption
&quot;Description of Securities&quot; (or comparable caption), insofar as they
purport to summarize certain provisions of the laws and documents referred to
therein, fairly summarize such provisions in all material respects.</p>
		<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (xi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The documents incorporated by reference in the Offering Memorandum as
amended or supplemented, when they were filed with the Commission appeared on
their face to be appropriately responsive in all material respects to the
requirements of the 1934 Act and the rules and regulations thereunder, except
that such counsel expresses no opinion as to the financial statements, related
schedules and other financial data, and such counsel does not assume any responsibility
for the accuracy, completeness or fairness of the statements contained in the
documents incorporated by reference in the Offering Memorandum as amended or
supplemented.</p>
	</blockquote>
	<p class=SinglePara>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In addition, such counsel shall state that, although he is
not passing upon and does not assume any responsibility for the accuracy,
completeness or fairness of the statements contained in the Offering
Memorandum, no facts have come to such counsel's attention that have led him to
believe that the Offering Memorandum or any amendment or supplement thereto at
the time the Offering Memorandum was issued, at the time any such amended or
supplemented Offering Memorandum was issued or at the Closing Time, contained
or contains an untrue statement of a material fact or omitted or omits to state
a material fact necessary in order to make the statements therein, in light of
the circumstances under which they were made, not misleading; or that the
Disclosure Package, as of the Applicable Time, contained any untrue statement
of a material fact or omitted to state any material fact necessary in order to
make the statements therein, in the light of circumstances under which they were
made, not misleading, except that such counsel expresses no opinion or belief
with respect to the financial statements, schedules, other financial data. With
respect to statements contained in the Disclosure Package, any statement
contained in any of the constituent documents shall be deemed to be modified or
superseded to the extent that any information contained in subsequent
constituent documents modifies or replaces such statement.</p>
	<p class=SinglePara>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In rendering the opinion required under this Annex I,
counsel to the Company need not express any opinion concerning the laws of any
jurisdiction other than those of the Commonwealth of Virginia and the United
States of America, provided that such counsel states that he is aware of no
difference between the laws of the Commonwealth of Virginia and the laws of the
State of New York which would cause him to believe that his opinion would be
inapplicable if it were furnished in connection with the laws of the State of
New York.&nbsp; In addition, in rendering the opinion required under this Annex I,
such counsel may rely as to matters of fact, to the extent such counsel deems
it proper, on certificates of responsible officials of the Company and public
officials. </p>
</blockquote>

<br clear=all
style='page-break-before:always'>

<p class=HeadingRightTitle align="right"><b>ANNEX II</b></p>

<blockquote>
	<blockquote>
		<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; They are independent certified public accountants with respect to the
Company and its subsidiaries within the meaning of the 1933 Act and the
applicable published rules and regulations thereunder;</p>
		<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In their opinion, the financial statements and any supplementary
financial information and schedules audited (and, if applicable, financial
forecasts and/or pro forma financial information examined) by them and included
or incorporated by reference in the Offering Memorandum comply as to form in
all material respects with the applicable accounting requirements of the 1933 Act
or the 1934 Act, as applicable, and the related published rules and regulations thereunder; and, if applicable, they have made a review in accordance with
standards established by the American Institute of Certified Public Accountants
of the consolidated interim financial statements of the Company for the periods
specified in such letter;</p>
		<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; They have made a review in accordance with standards established by the
American Institute of Certified Public Accountants of the unaudited condensed
consolidated statements of income, consolidated balance sheets and consolidated
statements of cash flows included in the Offering Memorandum and/or included in
the Company's quarterly report or reports filed on Form 10-Q incorporated by
reference into the Offering Memorandum; and on the basis of specified
procedures including inquiries of officials of the Company who have
responsibility for financial and accounting matters regarding whether the
unaudited condensed consolidated financial statements referred to in paragraph
(vi)(A)(i) below comply as to form in all material respects with the applicable
accounting requirements of the 1933 Act and the 1934 Act and the related
published rules and regulations, nothing came to their attention that caused
them to believe that the unaudited condensed consolidated financial statements
do not comply as to form in all material respects with the applicable
accounting requirements of the 1933 Act and the 1934 Act and the related
published rules and regulations;</p>
		<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The unaudited selected financial information with respect to the
consolidated results of operations and financial position of the Company for
the five most recent fiscal years included or incorporated by reference in the
Offering Memorandum and included or incorporated by reference in Item 6 of the
Company's Annual Report on Form 10-K for the most recent fiscal year agrees
with the corresponding amounts (after restatement where applicable) in the
audited consolidated financial statements for five such fiscal years which were
included or incorporated by reference in the Company's Annual Reports on Form
10-K for such fiscal years;</p>
		<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; They have compared the information in or incorporated by reference in
the Offering Memorandum under selected captions with the disclosure
requirements of Regulation S-K and on the basis of limited procedures specified
in such letter nothing came to their attention as a result of the foregoing
procedures that caused them to believe that this information does not conform
in all material respects with the disclosure requirements of Items 301, 302 and
503(d), respectively, of Regulation S-K;</p>
		<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On the basis of limited procedures, not constituting an examination in
accordance with generally accepted auditing standards, consisting of a reading
of the unaudited financial statements and other information referred to below,
a reading of the latest available interim financial statements of the Company
and its subsidiaries, inspection of the minute books of the Company and its
subsidiaries since the date of the latest audited financial statements included
or incorporated by reference in the Offering Memorandum, inquiries of officials
of the Company and its subsidiaries responsible for financial and accounting
matters and such other inquiries and procedures as may be specified in such
letter, nothing came to their attention that caused them to believe that:</p>
	</blockquote>
	<p class=ShortOutlineStyle5 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (A)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
	(i) &nbsp;the unaudited condensed consolidated statements of income,
consolidated balance sheets and consolidated statements of cash flows included
in the Offering Memorandum and/or included or incorporated by reference in the
Company's Quarterly Reports on Form 10-Q incorporated by reference in the
Offering Memorandum do not comply as to form in all material respects with the
applicable accounting requirements of the 1934 Act and the related published
rules and regulations, or (ii) any material modifications should be made to the
unaudited condensed consolidated statements of income, consolidated balance
sheets and consolidated statements of cash flows included in the Offering
Memorandum or included in the Company's Quarterly Reports on Form 10-Q
incorporated by reference in the Offering Memorandum for them to be in
conformity with generally accepted accounting principles;</p>
	<p class=ShortOutlineStyle5 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (B)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
any other unaudited income statement data and balance sheet items
included in the Offering Memorandum do not agree with the corresponding items
in the unaudited consolidated financial statements from which such data and
items were derived, and any such unaudited data and items were not determined
on a basis substantially consistent with the basis for the corresponding
amounts in the audited consolidated financial statements included or
incorporated by reference in the Company's Annual Report on Form 10-K for the
most recent fiscal year; </p>
	<p class=ShortOutlineStyle5 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (C)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the unaudited financial statements which were not included in the
Offering Memorandum but from which were derived the unaudited condensed
financial statements referred to in clause (A) and any unaudited income
statement data and balance sheet items included in the Offering Memorandum and
referred to in Clause (B) were not determined on a basis substantially
consistent with the basis for the audited financial statements included or
incorporated by reference in the Company's Annual Report on Form 10-K for the
most recent fiscal year;</p>
	<p class=ShortOutlineStyle5 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (D)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
any unaudited pro forma consolidated condensed financial statements
included or incorporated by reference in the Offering Memorandum do not comply
as to form in all material respects with the applicable accounting requirements
of the 1933 Act and the published rules and regulations thereunder or the pro
forma adjustments, if any, have not been properly applied to the historical
amounts in the compilation of those statements;</p>
	<p class=ShortOutlineStyle5 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (E)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
as of a specified date not more than five days prior to the date of such
letter, there have been any changes in the consolidated capital stock (other
than issuances of capital stock upon exercise of options and stock appreciation
rights, upon earn-outs of performance shares and upon conversions of
convertible securities, in each case which were outstanding on the date of the
latest balance sheet included or incorporated by reference in the Offering
Memorandum) or any increase in the consolidated long-term debt of the Company
and its subsidiaries, or any decreases in consolidated net current assets or
stockholders' equity or other items specified by the Representatives, or any
increases in any items specified by the Representatives, in each case as
compared with amounts shown in the latest balance sheet included or
incorporated by reference in the Offering Memorandum, except in each case for
changes, increases or decreases which the Offering Memorandum discloses have
occurred or may occur or which are described in such letter; and</p>
	<p class=ShortOutlineStyle5 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (F)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
for the period from the date of the latest financial statements included
or incorporated by reference in the Offering Memorandum to the specified date
referred to in Clause (E) there were any decreases in consolidated net sales,
gross profit, earnings from operations, earnings from continuing operations or
the total or per share amounts of consolidated net income or other items
specified by the Representatives, or any increases in any items specified by
the Representatives, in each case as compared with the comparable period of the
preceding year and with any other period of corresponding length specified by
the Representatives, except in each case for increases or decreases which the
Offering Memorandum discloses have occurred or may occur or which are described
in such letter; and</p>
	<blockquote>
		<p class=ShortOutlineStyle3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In addition to the audit referred to in their reports included or
incorporated by reference in the Offering Memorandum and the limited
procedures, inspection of minute books, inquiries and other procedures referred
to in paragraphs (iii) and (vi) above, they have carried out certain specified
procedures, not constituting an audit in accordance with generally accepted
auditing standards, with respect to certain amounts, percentages and financial
information specified by the Representatives which are derived from the general
accounting records of the Company and its subsidiaries, which appear in the
Offering Memorandum (excluding documents incorporated by reference), specified
by the Representatives or in documents incorporated by reference in the
Offering Memorandum specified by the Representatives, and have compared certain
of such amounts, percentages and financial information with the accounting
records of the Company and its subsidiaries and have found them to be in
agreement.</p>
	</blockquote>
	<p class=SinglePara>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All references in this Annex II to the Offering Memorandum
shall be deemed to refer to the Offering Memorandum (including the documents
incorporated by reference therein) as defined in the Agreement as of the date
of the letter delivered on the date of the Agreement for purposes of such
letter and to the Offering Memorandum as amended or supplemented (including the
documents incorporated by reference therein) in relation to the applicable
Securities for purposes of the letter delivered at the Closing Time for such
Securities.</p>
</blockquote>

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